23 Royal Palm Way APT 16Boca RatonFL33432
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Boca Raton at 23 Royal Palm Way APT 16, Boca Raton, FL, 33432 priced at $989,000 converts $7,208/mo rent into after a $4,841/mo obligation. Total monthly income equals $7,208/mo. Return on cash invested prints 19.86% in year one, and rental yield reads 8.75% against a $989,000 entry. Equity gained on principal adds $6,382/yr, while 5% annual appreciation compiles into $273,242 by year five. Five-year ROI reaches 104.05% and total cumulative return in cash sums $338,550. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $7,208/mo property income covering a $4,841/mo payment, not borrower’s personal income.
Condo
Built in 2001
N/A lot
$N/A/sqft
$700 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33432, Boca Raton, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,928 (100%) |
| Owner Occupied HU | 7,342 (43.4%) |
| Renter Occupied HU | 5,700 (33.7%) |
| Vacant Housing Units | 3,886 (23.0%) |
| Median Home Value | $941,593 |
| Average Home Value | $1,118,234 |
Housing Distribution
Address Breakdown
Residential
13,710
Single Family
4,102
Multi-Family
9,608
Businesses
1,907
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Listed by: Andrew Klein • Elite Premier Properties, Inc
Mls Name: MIAMI
Mls Provider:
Mls ID: #A11364035
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.