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Charming Spanish Mission-style multi‑family triplex positioned near the beaches and Intracoastal Waterway, and just minutes from Downtown Northwood with its vibrant shops and restaurants. Downtown West Palm Beach is approximately a 15‑minute drive, with additional shopping and dining nearby, including Tanger Outlets. This well‑located property is ideal for investors seeking stable rental income or for a residential buyer looking to offset living expenses through income‑producing units. The layout offers exceptional flexibility—live in the spacious main house while renting the two additional units, or lease all units for maximum return. There is no HOA, enhancing long‑term investment value. The main residence features 3 bedrooms and 1 bath, while the separate rear building includes a 1 bedroom, 1 bath unit and a studio. Separate electric meters add convenience and efficiency for both owners and tenants. With strong rental demand and a desirable coastal location, this property presents an outstanding opportunity for both portfolio growth and lifestyle plus income living.
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William Raveis Real Estate
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RVP, Mortgage Banker
William Raveis Mortgage, LLC
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Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $544,000 | $544,000 | $544,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.625% | 6.625% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.133% | 6.739% | 5.952% |
| Monthly Tax Payment | $668 | $668 | $668 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,132 | $3,483 | $4,517 |
| Total Monthly Payment | $3,892 | $4,243 | $5,277 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.