651 Okeechobee Boulevard #506West Palm BeachFL33401
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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
Investment property for sale in West Palm Beach at 651 Okeechobee Boulevard #506, West Palm Beach, FL, 33401 offers a 10.54% rental yield on a $325,000 purchase with $2,854/mo rent. Total monthly income registers $2,854/mo, and a $1,591/mo payment leaves $697/mo available for distribution. Annual cash flow reaches $8,364/yr on $107,738 to close, and return on cash invested stands at 27.67% in year one. Equity gained on principal adds $2,097/yr while 5% annual appreciation supports $89,792 over five years. Portfolio math shows five-year ROI at 145.04% and total cumulative return in cash at $156,265. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,854/mo property income against a $1,591/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 2001
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 33401, West Palm Beach, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,533 (100%) |
| Owner Occupied HU | 5,581 (25.9%) |
| Renter Occupied HU | 11,921 (55.4%) |
| Vacant Housing Units | 4,031 (18.7%) |
| Median Home Value | $635,286 |
| Average Home Value | $769,580 |
Housing Distribution
Address Breakdown
Residential
17,747
Single Family
6,570
Multi-Family
11,177
Businesses
2,352
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Listed by: Seth Koretzky • Compass Florida LLC
Mls Name: BeachesMLS
Mls ID: #RX-11122038