Condominium in Palm Gardens
717 MICHIGAN COURT 2 Saint Cloud, FL 34769
For Sale
$164,500
Pending
Charming 2-bedroom condo with resort-style amenities in Palm Gardens.
Property Size784 SF
Lot Size0.04 Acres
Days on Market516
Property Features for 717 MICHIGAN COURT 2
General Information
- Standard status
- Pending
- Size
- 784 SF
- Lot size
- 0.04 Acres
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 1972
Listing Agency:
REMAX PREMIER PROPERTIES
(407) 968-7511
Listed By:
Paola Almonte · License #3287290
(407) 968-7511
Source:
Exitrealty
Added: Feb 23, 2025
Changed: Jul 6
Last Checked: Jul 23 at 5:42AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REMAX PREMIER PROPERTIES
Investment Insights
Based on property information with market context.
Located in the Palm Gardens Community, this condominium offers a blend of convenience and comfort. This 2-bedroom, 1-bath unit is situated on the 1st floor. The property is vacant and move-in ready. Palm Gardens provides resort-style amenities, including large and small pools, a basketball court, a clubhouse, and an indoor laundromat. Restaurants and shopping plazas are located nearby. The property is located in proximity to Cocoa Beach and the Space Coast. The association takes care of the grounds. The property size is 784 square feet.
Key Highlights
- Resort‑style amenities including large and small pools, basketball court, and clubhouse.
- Prime location close to restaurants, shopping, Cocoa Beach, and the Space Coast.
- Convenient indoor laundromat eliminates the need for in‑unit laundry.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.7k | $23.88 |
| − Vacancy | −$1.2k | −$1.55 |
| EGI | $17.5k | $22.33 |
| − OpEx | −$7.9k | −$10.05 |
| NOI | $9.6k | $12.28 |
784 SF · lease $23.88/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$137.5K
$120.4K – $160.5K
NOI $9,628 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$242.4K
$212.1K – $282.8K
NOI $16,970 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Residential income properties
FAQs
What type of property is this?
Residential income property - Charming 2-bedroom condo with resort-style amenities in Palm Gardens.
Where is this residential income property located?
The property is located at 717 MICHIGAN COURT 2 Saint Cloud, FL.
What is the asking price?
The asking price for this property is $164,500.
What are key features of this property?
This property features: Resort‑style amenities including large and small pools, basketball court, and clubhouse.; Prime location close to restaurants, shopping, Cocoa Beach, and the Space Coast.; Convenient indoor laundromat eliminates the need for in‑unit laundry.
