389 S Lake Dr APT 2HPalm 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 Palm Beach at 389 S Lake Dr APT 2H, Palm Beach, FL, 33480 priced at $1,800,000 converts $7,916/mo rent into after a $8,810/mo obligation. Total monthly income equals $7,916/mo. Return on cash invested prints 12.08% in year one, and rental yield reads 5.28% against a $1,800,000 entry. Equity gained on principal adds $11,615/yr, while 5% annual appreciation compiles into $497,307 by year five. Five-year ROI reaches 61.36% and total cumulative return in cash sums $357,827. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $7,916/mo property income covering a $8,810/mo payment, not borrower’s personal income.
Condo
Built in 1967
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: Suzanne M Smith • Brown Harris Stevens of Palm Beach 5225
Mls Name: Palm Beach BOR
Mls ID: #25-1942