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$675,000

Beds
4
Baths
2.0
sq ft
1,548

1021 N Palmway, Lake Worth Beach, FL 33460

1021 N Palmway

Lake Worth Beach, FL 33460

  • 44 days on market
PROPERTY HIGHLIGHTSThis property can be purchased as single residence and not part of the portfolio mentioned below. This exceptional property is part of a portfolio in Lake Worth, Florida, comprises eight (8) strategically located buildings, offering a total of twenty-eight (28) units. Each property features unique architectural styles and modern amenities, ensuring a diverse and appealing selection for tenants. The portfolio includes a mix of unit sizes and configurations, catering to various tenant needs and maximizing rental potential. With a solid average cap rate of 8.26%, these properties promise a robust return on investment. Situated in a vibrant and growing community, this portfolio presents a rare opportunity to acquire income-generating assets in a highly desirable area.

Details

Property type

Single Family Residence

Est. home value

$585,802

Lot size

6,752 sq ft

Price per sq ft

$437

Year built

1930

Annual property taxes

$10,151

Price History

08/27/2024
Beaches

Beaches #R11010262

Price change
$675,000
+21.1%
08/06/2024
Beaches

Beaches #R11009162

Removed
$557,411
08/06/2024
Beaches

Beaches #R11010262

Listed
$557,411

Schools & Community

Neighborhood: 

Parrot Cove

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$243,777
Asking price
$675,000
Closing costs (~8% of asking)
-$54,000
Est. remaining loan balance
-$377,223
Cash to seller
$243,777

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Total Mortgage Services Llc

Loan start date

December 2021

Original loan amount

$400,500

Est. remaining balance

$377,223

Interest rate

3.09%

Loan type

New Conventional, 30 year

Seller

Mitchele J Skrove and Nicole A Skrove

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 09/18/2024 at 10:25 PM

Listing updated: 08/27/2024 at 5:13 PM

Listed by: David Joseph, The Keyes Company Phone #: (561) 405-4960

MLS: Beaches #R11010262

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