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$147,000

Beds
2
Baths
2.0
sq ft
1,100

7220 Lake Circle Dr Unit 203, Margate, FL 33063

7220 Lake Circle Dr Unit 203

Margate, FL 33063

  • Coming soon
Welcome to this serene lakeside condo in the charming 55+ community of Palm Lakes. Conveniently located near the elevator, this 2-bedroom, 2-bathroom unit offers an abundance of features, including two beautifully renovated bathrooms, in-unit washer and dryer, 2022 AC, and an additional storage locker. The screened balcony provides a peaceful view of the tranquil lake and lush landscaping, perfect for relaxation.Palm Lakes offers a resort-style clubhouse with a variety of amenities, including a billiards room, auditorium, gym, tennis court, hotel-style pool, hot tub, and a barbecue area--all with no membership dues or buy-ins.This community requires a 650+ credit score and a combined annual income of $40,000. It is also pet-friendly, allowing two pets under 20 pounds each.

Details

Property type

Condominium

Est. home value

$173,974

Lot size

Unknown

Price per sq ft

$134

Year built

1980

Annual property taxes

$3,533

Monthly HOA fee

$764

Price History

06/17/2021
Beaches

Beaches #R10703239

Sold
$105,000

Schools & Community

Elementary school: 

Morrow

Middle school: 

Silver Lakes

High school: 

Coconut Crk High

Community features: 

Pool, Tennis Court(s)

Senior community center: 

Yes

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

$48,477
Asking price
$147,000
Closing costs (~8% of asking)
-$11,760
Est. remaining loan balance
-$86,763
Cash to seller
$48,477

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

Seller’s Loan History

Lender

Wells Fargo Bank Na

Loan start date

June 2021

Original loan amount

$94,500

Est. remaining balance

$86,763

Interest rate

2.98%

Loan type

New Conventional, 30 year

Seller

Janette Lewis and Lawrence Lewis

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?

Status: Coming Soon

Tomo last checked: 04/03/2025 at 12:05 PM

Listing updated: 04/03/2025 at 1:41 AM

Listed by: Christopher Bohn, The Keyes Company Phone #: (561) 750-1000

MLS: Beaches #R11077403

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