NOT LISTED FOR SALE

614 NE 4th St Delray Beach, FL 33483

Downtown Delray Beach Neighborhood

Estimated Value: $958,000 - $1,374,410

2 Beds
2 Baths
1,800 Sq Ft
$661/Sq Ft Est. Value

Last Sold April 02, 2018

Last sale price $390,000 $217 Per Sq Ft

Est. 205% increase in value since last sale

Current estimated payment $7,910/month

122 Days on Market

Highlights

  • Garden View
  • Patio
  • Tile Flooring

About This Home

As of April 2018

This investment asset has been under the same ownership for over 20 years. The current tenants have been in place for 17 years and 10 years respectively. Both tenants are on Month to month leases at rents of $900 a month in a market where these 2 bedroom and 1 bath units could secure $1,800 a month easily. This investment property represents an incredible opportunity to secure a multifamily property in the highly sough after downtown core of Delray Beach. Located just four blocks north of Atlantic Avenue and in close proximity to Publix, Walgreens, and other retail, restaurants and attractions. This property will provide an investor instant upside in raising the rents to market with even greater upside in the future based on the market growth and some minor renovations while pushing rents

Last Agent to Sell the Property

Todd Wilson

Atlantic One Realty Group LLC License #699852 Listed on: 11/01/2017

Co-Listed By

Amanda Pastuszak

Atlantic One Realty Group LLC License #3337914

Last Buyer's Agent

Todd Wilson

Atlantic One Realty Group LLC License #699852 Listed on: 11/01/2017

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,559

Year Built

  • Built in 1963

Lot Details

  • 7,453

Home Design

  • Duplex
  • Shingle Roof
  • Composition Roof

Interior Spaces

  • 1,800 Sq Ft Home
  • 1-Story Property
  • Tile Flooring
  • Garden Views

Additional Features

  • Patio
  • 7,453 Sq Ft Lot

Listing and Financial Details

  • Assessor Parcel Number 12434616051130011

Community Details

Overview

  • 2 Units
  • Highland Park Delray Subdivision

Building Details

  • Operating Expense $14,759
  • Net Operating Income $6,841

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,559

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Prop. Type: Residential Income
  • Property Sub Type: Duplex
  • Property Sub Type Additional: Duplex
  • Directions: E Atlantic Ave left onto NE 6th Ave, right onto NE 4th St and then proceed to property on your right.
  • Year Built: 1963
  • Unit Levels: One
  • Building Stories: 1
  • Year Built Details: Resale
  • Special Features: None
  • Stories: 1

Interior Features

  • Flooring: Tile
  • Living Area: 1800.0

Exterior Features

  • Exterior Features: Patio
  • View: Garden
  • Lot Features: < 1/4 Acre
  • Pool Features: None
  • Waterfront: No
  • Construction Type: Block
  • Patio And Porch Features: Patio
  • Property Condition: Resale
  • Roof: Composition, Shingle

Utilities

  • Cooling: Other
  • Heating: Other
  • Sewer: Public Sewer
  • Utilities: Sewer Available, Water Available
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Association Fee Frequency: Monthly

Lot Info

  • Parcel #: 12434616051130011
  • Lot Size Sq Ft: 7453.0
  • Zoning Description: RM(cit
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Tenant Pays: Exterior Electric, Water

Multi Family

  • Property Net Operating Income: 6841.0
  • Number Of Units Total: 2
  • Annual Operating Expense: 14759.0

Tax Info

  • Tax Year: 2016
  • Tax Annual Amount: 8559.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 1, 2017
Closed on
Mar 29, 2018
Sold by
Mcgloin Richard A
Bought by
Color Door Investments Llc
Seller's Agent
Todd Wilson
Atlantic One Realty Group LLC
Buyer's Agent
Todd Wilson
Atlantic One Realty Group LLC
List Price
$525,000
Sold Price
$390,000
Premium/Discount to List
-$135,000
-25.71%
Current Estimated Value
$1,189,803

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$799,803
Avg. Annual Appreciation
17.06%
Original Mortgage
$272,300
Interest Rate
3.75%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Dec 31, 1996
Sold by
Reeves Jean W
Bought by
Mcgloin Richard A

Purchase Details

Closed on
Oct 18, 1995
Sold by
Gloria G Lamb Tr
Bought by
Reeves Lr Jean W and Mcgloin Richard A
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Color Door Investments Llc $389,000 Attorney
Mcgloin Richard A $100 --
Reeves Lr Jean W $86,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Color Door Investments Llc $265,000
Closed Color Door Investments Llc $272,300
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/02/2018 04/02/18 Sold $390,000 -25.7% $217 / Sq Ft
03/03/2018 03/03/18 Pending -- -- --
11/01/2017 11/01/17 For Sale $525,000 -- $292 / Sq Ft
Source: BeachesMLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $16,757 $811,569 -- --
2023 $15,254 $737,790 $707,355 $185,671
2022 $14,178 $670,718 $0 $0
2021 $12,554 $609,744 $484,000 $125,744
2020 $11,813 $568,068 $440,000 $128,068
2019 $11,747 $558,331 $440,000 $118,331
2018 $9,475 $482,717 $384,773 $97,944
2017 $9,156 $490,109 $373,566 $116,543
2016 $8,559 $368,210 $0 $0
2015 $7,866 $334,736 $0 $0
2014 $7,386 $304,305 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • T

    Seller's Agent in 2018

    Todd Wilson

    Atlantic One Realty Group LLC

    3 in this area

    39 Total Sales

    Section Image

  • A

    Seller Co-Listing Agent in 2018

    Amanda Pastuszak

    Atlantic One Realty Group LLC

    (203) 667-9771

    2 in this area

    34 Total Sales

    Section Image
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Map

Source: BeachesMLS

MLS Number: R10378391

BeachesMLS

APN: 12-43-46-16-05-113-0011

Florida Palm Beach County Delray Beach 33483 Downtown Delray Beach

614 NE 4th St, Delray Beach, FL

This home is located at 614 NE 4th St, Delray Beach, FL 33483 since 01 November 2017 and is currently estimated at $1,189,803, approximately $661 per square foot. This property was built in 1963. 614 NE 4th St is a home located in Palm Beach County with nearby schools including Plumosa School of the Arts, Carver Middle School, and Atlantic High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

BeachesMLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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