5775 Fernley Drive 88, West Palm Beach, FL 33415 — MLS photo

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5775 Fernley Drive 88, West Palm Beach, FL 33415

Active · Residential

$199,900

5775 Fernley Drive 88, West Palm Beach, FL 33415

Beds
2
Baths
2
Living area
1,072 sq ft
$ / sq ft
$186/sq ft
Year built
1979
Lot size
—
HOA fee
$543 Monthly
Annual tax
$3,477

About this property

Welcome to this spacious 2-bedroom, 2-bath corner condo located in a desirable 55+ community, offering comfort, convenience, and plenty of natural light. The large open living room features expansive windows that fill the space with sunshine, creating a bright and inviting atmosphere. As a corner unit, the home enjoys additional privacy and airflow. Step outside to a large covered back patio, perfect for relaxing or entertaining, along with a generous laundry/utility closet that provides valuable extra storage space. Residents enjoy a variety of community amenities, including a sparkling pool, clubhouse, tennis courts, and shuffleboard, creating an active and social lifestyle. The monthly association dues include water, roof maintenance, and building insurance, offering added peace of mind and value. While the unit could benefit from updating, it presents a fantastic opportunity to customize and add your personal touch, making it ideal for buyers looking to create their perfect home in a welcoming 55+ community.

Interior & exterior features

Appliances

  • Refrigerator
  • Washer

Cooling

  • Central Air

Heating

  • Central

Interior features

  • Split Bedrooms
  • Tub Shower
  • Walk In Closets

Pool

  • None
  • Association
  • Community

Flooring

  • Carpet
  • Vinyl

construction

  • Block

association_amenities

  • Clubhouse
  • Pool
  • Shuffleboard Court
  • Tennis Courts

association_fee_includes

  • Common Area Maintenance
  • Cable Tv
  • Insurance
  • Sewer
  • Water

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

$334

Cap rate
7.7%
Net yield
7.7%
Cash-on-cash return
7.2%
Gross yield
14.9%
Mortgage payment
$948/mo
Down payment
$49,975
Loan amount
$149,925
Annual NOI
$15,381

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