5550 N Ocean Drive 22b, Singer Island, FL 33404 — MLS photo

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5550 N Ocean Drive 22b, Singer Island, FL 33404

Active · Condominium

$1,210,000

5550 N Ocean Drive 22b, Singer Island, FL 33404

Beds
2
Baths
2
Living area
1,435 sq ft
$ / sq ft
$843/sq ft
Year built
1975
Lot size
—
HOA fee
$1,695 Monthly
Annual tax
$10,044

About this property

Nov 2026 FLA Property Tax Reduction Vote . 2024 GUTTED-CUSTOM REMODEL ''ALL'' NEW. NO BUILDING COSTS ALL-NEW UPGRADES 2025-2015. Yes Small Pets.''Sky Beach'' 22nd Fl of 23. Rare In-Condo Washer-Dryer. Furnished Move-In Ready. WOW Exclusive ''B'' line, panoramic 270 degree OCEANFRONT Sunrise+Sunset View 365 Days! "B" model South Sun Side 365 Days! "C" and "A" model North Side little Sun 365 days - Shadey. Sound-of-Ocean! Corner unit ''Privacy'', (4) per floor,1435 sq ft under air+270 sq ft-60 ft long wrap around terrace=1705 total sq ft. Exclusive WOW underlighted Island Kitchen Counter. Exclusive Custom In-Condo Storage Closet, Exclusive Ensuite 2nd Bathroom/Bedroom. At WATER GLADES, ON SINGER ISLAND, ON-THE-SAND 1200 ft Beach! Steps to Beach-Walking Heaven! 1.6 mile pristine Mc Arthur Beach State Par. Mthly HOA Maint of $1695, no increases, includes Comcast Cable + Internet. JUNE 3 2026 FLORIDA HISTORIC REDUCE-ELIMINATE OWNER-OCCUPIED PROPERTY TAX. Will reduce this condo annual Property Tax from appx $19,225 to $15,175, eventually to $5,500. Capped yearly this amount. Total amount reduced $4,050-21% decrease. Florida Governor DeSantis passed June 3 2026, for Nov 2026 ballot, if passed by 60% of voters. Florida lawmakers passed a major win for economic freedom. Amount of home's value exempt from property taxes would increase next two years. Residents who establish primary Florida residency on or before Dec. 31, 2026, would be eligible immediately. Those who buy-move move to Florida after that deadline, to wait (4) years before qualifying full $250,000 exemption. On Jan. 1, 2027, Homestead Exemption increase from existing $50,000 to $150,000. In 2028, increases to $250,000. Progressing to $500,000. The financial landscape for Florida condominium buyers changed significantly this week as the Federal Housing Finance Agency (FHFA) officially eliminated the "Limited Review" process. August 2026 Florida Condo Buyers Loan 25% Minimum Dowpayment Eliminated. Led by Congressman Byron Donalds (R-FL) and Federal Housing Finance Agency (FHFA) Director Bill Pulte, effectively ends a 2008 policy that forced Floridians to pay a higher down payment than any other state. The lending process required Florida borrowers to provide a 25% down payment. This restriction was in stark contrast to the rest of the nation, where buyers could secure Conventional Financing with down payments of 3% to 5%. NEW TAX BENEFITS: 1) Nov 5 2024, Amendment 5: Annual inflation adjustment to the additional Homestead Exemption (the second $25,000 exemption that applies to assessed values between $50,000 and $75,000) The adjustment is tied to the Consumer Price Index (CPI) and will increase when the CPI increases. 2) Palm Beach County Property Tax not increasing 2025. 3) Federal Income Tax, July 1 2025 Big Beautiful Bill, State And Local Tax Deduction increased to $40,000 from $10,000. This property, Pproperty Tax as HomeStead Primary Residence is est. $10,500, As Second Home $14,500. CONDO-2024 GUTTED-CUSTOM REMODEL -EXCLUSIVE ITEMS: -EVERYTHING IS NEW, see below and photos. -EXCLSIVE "B" line, Exclusive, panoramic 270 degree OCEANFRONT SUNRISE + SUNSETS 365 Days! "B" line, no strong ocean wind November-March. Dazzling City Lights at night. Full Moon rises off ocean 3 nights per month. Tower 200 "A" model does not get Sunset, "C" model does not get Sunrise or Sunset in shade 365 days, "D" does not get Sunrise. "A", "C", "D" line get strong ocean wind November-March. -(1) Covered Parking, extra parking available. -1435 sq ft under air+270 sq ft-60 ft long wrap around terrace=1705 total sq ft. -Condo in Tower 200, Smalls Pets are allowed.Tower 100 and 300 pets not permitted. -EXCLSIVE ON-THE-SAND, Surrounding towns have to walk across street/cars traffic to beach. -Privacy-Corner Condo. (4) condos per floor-all corner units. -SPACIOUS 33 x 55 porcelain tile. -EXCLUSIVE Custom Kitchen Island Counter, Rare UNDERLIGHTED "SeaFoam Light Green-White Onyx". -EXCLUSIVE RARE CUSTOM IN-CONDO WASHER/DRYER, Samsung (vented). Washer-Dryer also on-Floor laundry room. -Remodel includes 2023 ALL NEW BUILDING WATR PIPES, see photo. -New Hurricane Impact Windows-Sliding Doors 12/2021 -EXCLUSIVE CUSTOM IN-CONDO STORAGE ROOM + Extra Hall Closet only "B" and "A" model have.. -EXCLUSIVE CUSTOM 2 ENSUITE BATHROOMS-all others have 1. -City Permit Approved: New Electric Wires, Breaker Panel, Lights, Outlets. Bath and Kitchen plumbing.. New AC unit, New Water Heater. -New Samsung Kitchen Fridge/Freezer, Induction Cook top, Oven, Convection+Microwave, Dishwasher. -Kitchen faucet GE water purification system. -Custom Frosted glass Pocket Doors, space efficiency. -Custom Spacious Master Bedroom Closet Built-In Shelfs-Shoes-Clothes. -Double Vanity Marble/Coastal Master Bath. -New Entrance Doors with Digital-Touch Lock. -(1) King Bed, (2) Queen Beds; Serta Classic Elite Pillowtop Mattresses (2/2024). WATER GLADES NO COSTS-BUILDING "ALL" NEW UPGRADES 2025-2015: Very financially stable community. Monthly Home Owner Maintenance $1,695, no increases, includes Comcast Cable and Internet. . Rare 12/24 Florida Condo Structure Integrity Milestone Certificate. Home Owner's Association Reserve Funds are Fully Funded. Roof Chiller/Boiler/Controller(6/2025),Roofs (3/2024), Exterior Concrete routine replacement/patching and painted (2023), New Elevators (5/2023), Hallways Remodel (2022), New Fire System (7/2021), New Sea Wall (2019), New Cable/Internet (2018), Lobby Remodel (2018), New $3M Ocean Club House (2015). WATER GLADES COMMUNITY DETAILS: -Exceptionally Managed. President Water Glade Owner's Association is Singer Island on City Council, former Town Manager Long Beach, NY, PHD Engineer. And other owner's with significant property, financial, and legal expertise. -On property Management Office/Staff, Maintenance Staff. -Located on Northern-most, Quiet, End of Singer Island. (5-10) minutes to SuperMarket, stores, restaurants, Gardens Mall. North County Government Center, Golfing. -(15) minutes to downtown West Palm Beach and Palm Beach Airport. -(3) Condo Towers on 11 Ocean Front acres, and Exclusive wide-bay of Lake Worth Lagoon on Port of Palm Beach/Inlet to Ocean. -Exclusively shares the south very little public used-property line with the 1.6 mile gold medal award-winning McArthur Beach State Park. Owners enjoy the extra Beach State Park Walking and Lounging Space. The park cannot be developed. -24 hour Guarded Gated, Security. -Secure access to buildings, beach, and amenities. -$2.5M 2015 Ocean-Front Beach Clubhouse. -(2) Pools -(6) grills -(4) Ocean Front Tennis/Pickel Ball Courts. -Shuffleboard. -Putting green. -Fitness center in each (3) Condo Buildings. -Drive-Thru Car Spray/Rinse. SINGER ISLAND DETAILS: -Singer Island is located in North Palm Beach County. On the Palm Beach Inlet/Port of Palm Beach. The next Island from Palm Beach Island. -2028 City New State of Art Water Plant/System. -New Singer Island Fire Station begins Fall 2025. -2022 All-New Concrete Power Poles and New Power Lines. -2019 New "Ocean Walk" Mall shops and restaurants. -SailFish Marina & Restaurant South end of Island. -2014 Singer Island Newest Upgraded Island Town in Florida. -Florida Power & Light 2014 New Natural Gas Power Plant 10 minutes Port of Palm Beach. -Florida Power & Light 2022 New State HQ 10 minutes.

Property location

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5550 N Ocean Drive 22b, Singer Island, FL 33404

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Facts & features

Interior

Bedrooms
2
Bathrooms
2
Living area
1,435 sq ft
Flooring
Marble
Appliances
Built In Oven, Dryer, Dishwasher, Electric Range, Electric Water Heater, Ice Maker, Microwave, Refrigerator, Self Cleaning Oven, Washer
Cooling
Central Air, Electric
Heating
Central
Interior features
Breakfast Bar, Breakfast Area, Closet Cabinetry, Entrance Foyer, Eat In Kitchen, Family Dining Room, Kitchen Island, Main Living Area Entry Level, Split Bedrooms, Walk In Closets, Elevator, Pantry
Furnished
Furnished

Exterior & Structure

Property type
Condominium
Year built
1975
Stories
23
Lot size
0 sq ft
Architectural style
High Rise, One Story
Construction
Block
Exterior features
Balcony, Porch, Tennis Courts
Pool
None, Association, Community
Spa
Community
Waterfront
Intracoastal Access, Ocean Access, Seawall
View
Intercoastal, Ocean, Pool, Tennis Court

Parking

Garage spaces
2
Covered spaces
2
Parking features
Covered, Garage, Two Or More Spaces

HOA, Community & Financials

Association fee
$1,695 Monthly
Fee inclusions
Association Management, Common Area Maintenance, Cable Tv, Insurance, Parking, Pest Control, Sewer, Security, Trash, Water
Amenities
Clubhouse, Fitness Center, Management, Pool, Guard, Spa Hot Tub, Tennis Courts, Elevators
Security
Fire Alarm, Gated With Guard, Security Lights, Fire Sprinkler System, Smoke Detectors
Pets allowed
No
Annual tax
$10,044
Subdivision
WATER GLADES CONDO
County
Palm Beach
Days on market
434
MLS listing ID
R11115281
Listing status
Active

Investment intelligence

Yield & ROI calculator

Pre-filled from this listing's price, HOA and tax record. Adjust anything to see returns update instantly.

Estimated monthly cash flow

-$3,654

Cap rate
2.1%
Net yield
2.1%
Cash-on-cash return
-12.9%
Gross yield
5.9%
Mortgage payment
$5,736/mo
Down payment
$302,500
Loan amount
$907,500
Annual NOI
$24,985

Estimates only — includes 5% maintenance reserve and ~3% closing costs in cash invested. Verify taxes, HOA and insurance before making an offer.