2-Bedroom Residential
1320 NW 29TH Avenue C, Delray Beach, FL 33445
For Sale
$289,000
The 55+ community setting and updated kitchen and bathrooms shape this renovated home for age-restricted residential living.
Property Size1,589 SF
Price / SF$181.88
Days on Market79
Property Features for 1320 NW 29TH Avenue C
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Parking per Unit
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
William Raveis Real Estate
Listed By:
Todd Weiss · License FL #3436624
(728) 500-7077
Source:
Luxeiq
Added: Aug 24
Changed: Nov 3
Last Checked: Nov 9 at 9:10AM
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 William Raveis Real Estate
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Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bath villa in the 55+ Rainberry Bay community was renovated with new flooring, interior doors and trim, and a kitchen featuring a marble backsplash and stainless steel appliances. Popcorn ceilings were removed, and both bathrooms were updated. The home was built in 1984 and includes two parking spaces. Its roof was replaced in 2017; roof repairs and replacement are covered by the HOA.
Key Highlights
- 2 bedrooms and 2 bathrooms
- Located in the 55+ Rainberry Bay community
- Renovated kitchen with marble backsplash and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,281
Cap Rate
8.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$485,620
$485.6K
Cap Rate 7%
$346,871
$346.9K
Cap Rate 9%
$269,789
$269.8K
Market Conditions
NOI Build-Up for 1,589 SF
Gross rent
$46.7K $29.40/SF
− Vacancy
−$2.6K −$1.62/SF
EGI
$44.1K $27.78/SF
− OpEx
−$19.9K −$12.50/SF
NOI
$24.3K $15.28/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$485,620
Cap Rate 7%
$346,871
Cap Rate 9%
$269,789
Alternative Uses
Best Use
Apartment 5plus
$346.9K
$303.5K – $404.7K
NOI $24,281 @ 7.0% cap · market cap 8.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$979.2K – $1.31M
NOI $78,334 @ 7.0% cap · market cap 27.11%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
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Business Placement
Demographics for 33445, FL
32,265
Population
17,584
Households
1.8
Avg Household Size
51
Median Age
39%
College-Educated
90%
High-School Grad
8.1 sq mi
ZIP Area
3,983
Density / Sq Mi
$70,748
Median Household Income
$41,169
Median Earnings
$1,991
Median Rent
$282,500
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Delray Beach, FL
Properties on Market for Residential income properties in Delray Beach
Frequently Asked Questions
What type of property is this?
Residential income property - The 55+ community setting and updated kitchen and bathrooms shape this renovated home for age-restricted residential living.
Where is this residential income property located?
The property is located at 1320 NW 29TH Avenue C Delray Beach, FL.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 2 bedrooms and 2 bathrooms; Located in the 55+ Rainberry Bay community; Renovated kitchen with marble backsplash and stainless steel appliances
