3589 S Ocean Boulevard #506South Palm BeachFL33480
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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 South Palm Beach at 3589 S Ocean Boulevard #506, South Palm Beach, FL, 33480 generates $2,717/mo in rent and, after a $1,953/mo payment, leaves $69/mo in cash flow. Total monthly income is $2,717/mo, and annual cash flow is $829/yr on $132,269 invested. Return on cash invested sits at 20.54% in year one, and rental yield is 8.17% on a $399,000 entry. Equity gained on principal adds $2,575/yr, while 5% annual appreciation builds toward $110,236 over five years. Five-year ROI reaches 106.82% and total cumulative return in cash sums $141,290. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,717/mo property income rather than buyer’s personal income.
Condo
Built in 1974
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33480, Palm Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,178 (100%) |
| Owner Occupied HU | 5,203 (46.5%) |
| Renter Occupied HU | 952 ( 8.5%) |
| Vacant Housing Units | 5,023 (44.9%) |
| Median Home Value | $1,330,313 |
| Average Home Value | $1,415,885 |
Housing Distribution
Address Breakdown
Residential
9,067
Single Family
2,595
Multi-Family
6,472
Businesses
1,475
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Listed by: Lenore M Galasso • Apogee Team Realty, LLC
Mls Name: BeachesMLS
Mls ID: #RX-11142922