17827 122nd Dr N, Jupiter, FL 33478

Here’s a detailed analysis of the property at 17827 122nd Dr N, Jupiter, FL 33478, focusing on its refinancing potential:

Property Snapshot:

• Address: 17827 122nd Dr N, Jupiter, FL 33478
• Property Type: Single Family Home
• Estimated Value: Your input: $787,900. Zillow’s Zestimate is around $791,500. Redfin’s estimate for the specific property is also close at $803,300. This consistency is good. The median sale price in Jupiter (33478 zip code) is around $890,000, suggesting this property is well within the typical range for the area. A professional appraisal is essential to confirm the precise current market value for lending purposes.
• Size: 2,218 sqft, 4 beds, 2 baths. Public records confirm these details.
• Built: 1994 (This is a newer home by Florida standards compared to some other properties, which is a positive for insurance, but still consider it “older” for some policy considerations).
• Last Sold: Public records (Redfin, Zillow) indicate the property last sold on July 29, 2016, for $375,000. Prior to that, it sold for $420,000 in May 2005 and $189,000 in October 2001. This indicates significant equity appreciation for the current owner.
• Lot Size: 1.25 acres. This is a very large lot for a single-family home in Florida, offering ample space and privacy. The backyard is fully fenced with a chain-link fence.
• Features: Concrete Block Stucco construction. Asphalt roof. It has a private, screened inground pool. Described as having vaulted ceilings, arched windows/doorways, an indoor laundry room with outdoor access, and complete storm protection (shutters). It has extra parking for RV/boat and room to build a garage (it currently does not have an attached garage, based on some descriptions, though some sources mention a 2+ car parking). Verify garage situation for lending.
• HOA Fees: This is conflicting. Your input doesn’t mention HOA. Redfin for this specific address states “HOA/POA/COA: 0.00” and that “Governing Body: No Governing Body”. However, Zillow states “Has HOA: Yes” and “HOA fee: $246 monthly” for this exact address. It is CRITICAL to verify if there is an active HOA and what the actual monthly fee is by contacting the Jupiter Farms community association (if one exists) or reviewing the property’s deed and covenants. This could be a significant recurring cost.

Key Financials & Considerations for Refinancing:

• Substantial Equity: Based on the 2016 purchase price of $375,000 and the current estimated value of nearly $800,000, the homeowner has very substantial equity. This makes it a strong candidate for refinancing, including a cash-out refinance if desired.
• Property Taxes: Public records (Redfin, Zillow) show $5,827 paid in taxes in 2024 (approx. $485.58/month). This is a considerable fixed cost, and it has been steadily increasing. Palm Beach County’s average effective property tax rate is 0.91%. This figure is realistic for a property of this value in Jupiter.
• Homeowner’s Insurance: CRITICAL CONSIDERATION. For a 1994-built home of this size (2,218 sqft) with a private, screened pool in Jupiter, Florida, insurance costs will be significant.
  • TGS Insurance estimates the typical annual cost of home insurance in Jupiter for their customers at $4,692 (approx. $391/month), with homes older than 25 years averaging $5,425 ($452/month). Since 1994 is 31 years old, this higher range is more applicable.
  • MoneyGeek states Florida’s average is $7,554 annually ($630/month) for $250K dwelling coverage, but for an older home (though 1994 is newer than 1960s or 1970s), rates can be higher, especially with a pool and higher dwelling coverage needed for a $787K home.
  • While 1994 is not as old as 1950s or 1960s homes, a 4-point inspection (HVAC, electrical, plumbing, roof) will likely still be required for a refinance by lenders and for insurance. The age of the roof (composition shingles) is a key factor; if it’s nearing 20-25 years old, premiums could be much higher, or replacement may be required to secure coverage.
  • Documentation of “Complete Storm Protection” (shutters) is a significant positive and should lead to substantial wind mitigation credits, which are crucial in Florida. Ensure this documentation is available.
  • It is absolutely imperative to obtain multiple, realistic, current quotes from various insurance providers specializing in Florida, specifically for a 1994-built home with a pool and documented wind mitigation. The actual monthly premium could easily be $400-$700+ per month, given the value and pool. Zillow’s estimate of $277/month appears low for Florida today, even for a 1994 home.
• Refinance Rates: As of Tuesday, July 22, 2025, current Florida 30-year fixed refinance APRs are averaging around 6.75% to 6.95%. Your specific rate will depend on your credit score, loan-to-value (LTV) ratio, and the lender.
• Closing Costs: Expect to pay between 2% and 5% of the total loan amount in closing costs for a refinance in Florida. For a $600,000 loan, this could be $12,000 to $30,000.

Market Context (Jupiter, FL 33478):

• Market Status: The 33478 zip code is currently considered a seller’s market by Movoto, indicating more buyers than available homes. However, Redfin calls it “not very competitive” with homes selling for 4% below list price and taking 75 days to sell. Zillow states typical home values in Jupiter (overall) are down 3.9% over the past year. This mixed signal suggests a market that has cooled from its peak but still has demand.
• Local Trends: Jupiter Farms is a desirable area known for larger lots and privacy. A well-maintained 4-bed, 2-bath home over 2,200 sqft with a pool on 1.25 acres is a strong asset in this market.

Recommendations for Refinancing:

1. Define Your Goal: Clearly articulate the primary purpose of refinancing:
   • Lowering Interest Rate/Payment: If your current rate is higher.
   • Cash-Out Refinance: To access equity for home improvements, debt consolidation, or other investments. With substantial equity, this is a strong possibility. Given the age, consider using funds for any necessary roof replacement or other system updates that could improve insurability and long-term home value.
   • Changing Loan Term: Shortening (e.g., from 30 to 15 years) or lengthening the loan.
2. Verify HOA Status and Fees: This is critical given the conflicting information. Obtain official documentation regarding any HOA and its monthly fees.
3. Obtain Multiple Realistic Homeowner’s Insurance Quotes IMMEDIATELY: This is the most crucial step. Contact several independent insurance agents specializing in Florida property insurance. Provide them with detailed information about the home’s build year (1994), the exact age of the roof, the presence of a private, screened pool, and specifically mention “Complete Storm Protection” and be ready to provide documentation for wind mitigation credits.
4. Plan for a 4-Point Inspection: Be prepared for this inspection, which will evaluate the roof, electrical, plumbing, and HVAC systems.
5. Get a Professional Appraisal: This will provide an unbiased and accurate current market value, which lenders will require for the refinance.
6. Review Your Credit Score: A strong credit score (typically 740+) will qualify you for the best interest rates and terms.
7. Shop Around for Lenders: Compare interest rates, APRs (which include fees), and closing costs from several different mortgage lenders (banks, credit unions, mortgage brokers).
8. Gather Necessary Documentation: Be prepared to provide financial documents such as pay stubs, W-2s, tax returns, bank statements, and current mortgage statements.

This property presents a strong refinancing opportunity due to its significant equity and desirable features in a good location. The primary variable for monthly payment affordability will be the actual cost of homeowner’s insurance and, if applicable, the HOA fees.