Split-Plan Residential Income
For Sale
Under Contract
$365,000
1702 Silverleaf Oak Court, Palm Beach Gardens, FL 33410
Residential, Palm Beach Gardens, FL
Property Size1,152 SF
Lot Size0.05 Acres
Price / SF$316.84
Days on Market102
Property Features for 1702 Silverleaf Oak Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM (city)
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Parking
2
Parking features
Guest, Assigned
Window features
Skylight(s)
Patio and Porch features
Patio
Pets allowed
Number Limit, Yes, Size Limit, Breed Restrictions
Interior features
Bedroom Layout - Split, Built-in Features, Cathedral Ceiling(s), High Ceilings, Pantry, Storage, Vaulted Ceiling(s)
Exterior features
Barbecue
Appliances
Electric Water Heater, Range, Dishwasher, Disposal, Dryer, Electric Range, Microwave, Refrigerator, Washer, Water Heater
Subdivision
OAKS-SUNTERRACE
Lot features
Corner Lot, Cul-De-Sac, Sidewalks
Elementary school
Allamanda
Middle school
Howell L. Watkins
High school
Palm Beach Gardens
Standard status
Active Under Contract
APN
52434207290000172
Size
1,152 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
OAKS-SUNTERRACE PL 1 LT 17-B
Tax Annual Amount
4827
Expense value
150
Expense
Application Fee
Expense freq.
One Time
HOA Fee
$467 Monthly
Legal Description
OAKS-SUNTERRACE PL 1 LT 17-B
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Ceiling Fan(s), Electric, Central Air
Water source
Public
Amenities
community pool
spa
sidewalks
screened lanai
storage closet
Building Details
Year built
1991
Floors in Building
1
Flooring type
Tile
Building materials
CBS, Stucco
Roof type
Tile
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Illustrated Properties LLC (Co
(561) 626-7000
Listed By:
Alexander Fink · License #3392032
(561) 444-7256
Added: May 20
Changed: Aug 27
Last Checked: Aug 29 at 9:06PM
MLS# B26030875
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,152-square-foot residential income property in Palm Beach Gardens was built in 1991 and offers a split bedroom arrangement with two bedrooms and two bathrooms, including two potential primary suites. Interior improvements include porcelain tile flooring throughout, fresh paint, updated counters, a breakfast bar, tile backsplash, stainless steel appliances, newer blinds, and refreshed lighting, fans, and door hardware. The home also features vaulted and high ceilings, pantry storage, central air, and electric heating. A 23' x 23' screened lanai includes a covered area and storage closet.
The property is located at 1702 Silverleaf Oak Court and carries RM zoning from the city. Community amenities include a pool, spa, sidewalks, lawn care, roof maintenance, and basic cable through the applicable fee structure. Assigned parking spaces #222 and #224 are included, with guest parking also available. Leasing is prohibited during the first year, followed by a 120-day minimum lease term and one lease per year.
The property is located at 1702 Silverleaf Oak Court and carries RM zoning from the city. Community amenities include a pool, spa, sidewalks, lawn care, roof maintenance, and basic cable through the applicable fee structure. Assigned parking spaces #222 and #224 are included, with guest parking also available. Leasing is prohibited during the first year, followed by a 120-day minimum lease term and one lease per year.
Key Highlights
- 1,152 SF residential income property on a 0.05‑acre lot
- Two‑bedroom, two‑bath layout with split bedroom design and two potential primary suites
- 23' x 23' screened lanai with covered area and storage closet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,717
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$354,340
$354.3K
Cap Rate 7%
$253,100
$253.1K
Cap Rate 9%
$196,856
$196.9K
Market Conditions
NOI Build-Up for 1,152 SF
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.
Gross rent
$33.7K $29.28/SF
− Vacancy
−$1.5K −$1.32/SF
EGI
$32.2K $27.96/SF
− OpEx
−$14.5K −$12.58/SF
NOI
$17.7K $15.38/SF
Area
Palm Beach County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$354,340
Cap Rate 7%
$253,100
Cap Rate 9%
$196,856
Alternative Uses
Best Use
Apartment 5plus
$253.1K
$221.5K – $295.3K
NOI $17,717 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$811.3K
$709.9K – $946.5K
NOI $56,791 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,506
Businesses Nearby
Explore this area
Business Placement
Demographics for 33410, FL
35,946
Population
17,830
Households
2
Avg Household Size
47
Median Age
47%
College-Educated
95%
High-School Grad
11.4 sq mi
ZIP Area
3,153
Density / Sq Mi
$96,059
Median Household Income
$47,169
Median Earnings
$2,193
Median Rent
$469,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated interiors, two primary suites, and a screened lanai support comfortable residential use in a managed community setting.
Where is this residential income property located?
The property is located at 1702 Silverleaf Oak Court Palm Beach Gardens, FL.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 1,152 SF residential income property on a 0.05‑acre lot; Two‑bedroom, two‑bath layout with split bedroom design and two potential primary suites; 23' x 23' screened lanai with covered area and storage closet
