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$309,900

For Sale - Active
1161 Hillsboro Mile Apt 202, Hillsboro Beach, FL 33062
2 Beds
2.0 Baths
1,050 Square Feet
0.00 Acres Lot
Built in 1965
For Sale - Active
Units n/a
Checked: 15 hours ago
Updated: Apr 23, 2025 at 07:46PM

Investment Summary


Monthly Cash Flow
-$1,246
Cap Rate
1.3%
Cash-on-Cash Return
-21.0%
Debt Coverage Ratio
0.21
Internal Rate of Return (5 years)
-16.3%

Property Description


0.00 Acres Lot
Built in 1965
For Sale - Active
Units n/a

BEAUTIFUL OCEAN FRONT CONDO. OPEN FLOOR PLAN WITH 2 WALK-IN CLOSETS BRIGHT KITCHEN WITH A WINDOW, OCEAN VIEW FROM THE BALCONY, BEAUTIFUL POOL AND CLUBHOUSE. OVERLOOKING THE SAND AND THE OCEAN.

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Location


Property Details


Parking

  • Description: Underground, Guest, OneSpace
  • Details: Guest
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 6

HOA

  • Has HOA: Yes
  • HOA Fee: $1,088/monthly
  • Additional HOA Fee: $1,088

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 484308CJ0040
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1965

Tax Information

  • Annual Tax: $4,374

Utilities

  • Heating: Central
  • Cooling: Central Air, Ceiling Fan(s)

Location

  • County: Broward

Listing Details


Listed by:
Noria Andrade Pinto
United Realty Group Inc
(954) 557-2284

Source:
BeachesMLS
MLS#: F10491978
BeachesMLS

Investment Summary


Monthly Cash Flow
-$1,246
Cap Rate
1.3%
Cash-on-Cash Return
-21.0%
Debt Coverage Ratio
0.21
Internal Rate of Return (5 years)
-16.3%

Purchase Details

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Purchase price:
$309,900
Amount financed:
-$247,920
Down payment:
$61,980
Closing costs:
$9,297
Rehab costs:
$0
Initial cash invested:
$71,277
Square feet:
1,050
Cost per square foot:
$295
Monthly rent per square foot:
$2.48

Financing Details

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Loan amount:
$247,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principle & interest:
$1,587
Property tax:
$365
Insurance:
$182
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,134

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,600 $31,200
Vacancy loss: (6%)
6% -$156 -$1,872
Operating income:
$2,444 $29,328

Operating Expenses


% Rent Monthly Yearly
Property taxes: (14%)
14%-$365-$4,374
Insurance: (7%)
7%-$182-$2,184
Property management: (8%)
8%-$208-$2,496
Repairs & maintenance: (5%)
5%-$130-$1,560
Capital expenditures: (5%)
5%-$130-$1,560
HOA fees: (42%)
42%-$1,088-$13,056
Total operating expenses: (81%)
81%-$2,103-$25,230

Cash Flow


Monthly Yearly
Net operating income:
$341 $4,092
Mortgage payments:
-$1,587 -$19,044
Cash flow:
$1,246 $14,952