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$2,300,000

For Sale - Active
700 Ocean Royale Way Apt 401, Juno Beach, FL 33408
3 Beds
4.0 Baths
2,936 Square Feet
0.00 Acres Lot
Built in 2000
For Sale - Active
Units n/a
Checked: 2 hours ago
Updated: Apr 23, 2025 at 05:35PM

Investment Summary


Monthly Cash Flow
-$8,974
Cap Rate
1.6%
Cash-on-Cash Return
-20.4%
Debt Coverage Ratio
0.25
Internal Rate of Return (5 years)
-15.7%

Property Description


0.00 Acres Lot
Built in 2000
For Sale - Active
Units n/a

Located in the highly sought after secure concierge building of ocean royale in Juno Beach. This end unit is rarely available offering one of the largest floor plans in the subdivision. The home offers more then 3600 total square feet of space a wrap around balcony offering incredible ocean views. Impeccably maintained polished travertine flooring in main living area & coastal wood tiling in all the bedrooms No carpeting. All new appliances with quartz countertops and contemporary backslash. All New Hurricane Impact Sliders throughout.

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Location


Property Details


Parking

  • Description: Assigned, Garage
  • Details: Assigned, Garage
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Partial): 1
  • # of Baths (Total): 4.0

Interior Features

  • # of Stories: 13

Exterior Features

  • Roof Material: Concrete
  • Pool: Yes
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $2,950/monthly

Land Information

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

Lot Information

  • Parcel ID: 28434121220020401
  • Lot Size: 180 sqft

Property Information

  • Property Type: Condominium
  • Style: HighRise, Mediterranean
  • Year Built: 2000

Tax Information

  • Annual Tax: $20,923

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air, Ceiling Fan(s)

Location

  • County: Palm Beach

Listing Details


Listed by:
David Paul Schlockman
Epic Properties of the Palm Be
(561) 214-1733

Source:
BeachesMLS
MLS#: R11075314
BeachesMLS

Investment Summary


Monthly Cash Flow
-$8,974
Cap Rate
1.6%
Cash-on-Cash Return
-20.4%
Debt Coverage Ratio
0.25
Internal Rate of Return (5 years)
-15.7%

Purchase Details

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Purchase price:
$2,300,000
Amount financed:
-$1,840,000
Down payment:
$460,000
Closing costs:
$69,000
Rehab costs:
$0
Initial cash invested:
$529,000
Square feet:
2,936
Cost per square foot:
$783
Monthly rent per square foot:
$3.81

Financing Details

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Loan amount:
$1,840,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$12,008
Property tax:
$1,744
Insurance:
$784
Private mortgage insurance (PMI):
$0
Monthly payment:
$14,536

Operating Income

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% Rent Monthly Yearly
Gross rent:
$11,200 $134,400
Vacancy loss: (6%)
6% -$672 -$8,064
Operating income:
$10,528 $126,336

Operating Expenses


% Rent Monthly Yearly
Property taxes: (16%)
16%-$1,744-$20,923
Insurance: (7%)
7%-$784-$9,408
Property management: (8%)
8%-$896-$10,752
Repairs & maintenance: (5%)
5%-$560-$6,720
Capital expenditures: (5%)
5%-$560-$6,720
HOA fees: (26%)
26%-$2,950-$35,400
Total operating expenses: (67%)
67%-$7,494-$89,923

Cash Flow


Monthly Yearly
Net operating income:
$3,034 $36,408
Mortgage payments:
-$12,008 -$144,096
Cash flow:
$8,974 $107,688