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2
Bedrooms
3
Bathrooms
1,030 sqft
Interior
1987
Year built
$490 / mo
HOA
Condominium
Type
About this home
Rare bi-level, two-bedroom/2.5 bathroom, corner unit penthouse condo! Built in 1987. Association carries reserves. Milestone inspections completed. No assessments. 2023 ROOF! Only 4 of this model exist in Royal Palms, and this is the larger 1030 sq ft end unit! The entry is on the 4th floor with an open living/dining area and a half bath. Downstairs are two bedrooms, each with a full bath and walk-in closet. This unit has an end-of-hall location for great privacy and is less than 20 steps to the side staircase, leading you near the complex entrance and your TWO ASSIGNED parking spots. Additional parking spots can be leased. Ample visitor parking is near the pool/spa area. Located 0.4 miles from Palmetto Hospital and situated alongside Palmetto Expressway for easy commutes. Near shopping malls, schools, Miami Dade College, restaurants, and medical offices. Zoned for excellent schools. Pet friendly. $250 fee for pets (dogs, cats, birds.) Maintenance includes water. Clear hurricane protection panels attached to the windows. Reserve contributions equal about 12.5% of the annual budget. A SIRS (reserve study) has been completed. The budget is funding the reserve plan identified by the engineer.
Features
- Interior Hall
- Elevator
- Other
- Other View
Leasing
- Minimum lease
- 365 days
- Leases permitted per year
- 1
- No Daily Rentals
Leasing terms as stated in the MLS listing, not verified by us. The association’s governing documents control what is actually permitted and can change — confirm before you buy.
Run the numbers
We fill in the price and the building's HOA dues. That leaves tax, insurance and maintenance — they depend on your exemptions, your insurer and the unit, so we don't guess them. Rent starts from what comparable units are asking nearby. Vacancy and the loan terms below start at common defaults; change them.
Median asking rent for 2-bed rentals across Miami-Dade, from 200 active listings; the middle half ask $2,350–$4,801.That is what landlords ask, not what units let for — edit it if you know better.
Our default, not a market figure
From the listing
Depends on assessed value & exemptions
Varies widely by building
Repairs, turnover, management
Cap rate
Cash-on-cash
Monthly cash flow
Net operating income
Enter property tax, insurance, maintenance to see the returns. A cap rate calculated without every cost overstates the deal — often by half — so we don't show a partial one.
Illustration only — not a loan offer, quote, or investment advice. We are not a lender and neither offer nor arrange financing. The loan fields start at 20% down over 30 years at 6.5% (rates as of July 2026); that is a nominal rate for illustration, not an APR, and your actual terms will differ. Cap rate is unlevered; cash-on-cash counts the down payment as invested capital and excludes closing costs.
Listing data from the MIAMI Association of REALTORS® (MIAMIRE) IDX program. Information deemed reliable but not guaranteed. Demo data shown for layout purposes.