Filed

Filed: permit applied for; the city hasn’t issued it yet

Custom

Custom: a company owns the lot, but nothing on record says it’s being built to sell.

507 Lake Dr

Totterdale, Delray BeachBuilt by JM Properties of W Palm Beach~2,986 sf under air

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Aerial from 2026, before work began. The pink line is the surveyed parcel boundary.

Where it stands

Last city record Jun 26, 2026

Permit

Foundation

Vertical

Finish

Done

Estimated completionDec 2027 – Oct 2028Counted from today, since the permit isn’t issued yet, with the middle half of build times for homes off the water. An estimate, not the builder’s commitment.

The numbers

From deeds, the permit and the parcel roll

Likely to sell for$3.9–5.45MOur estimate from the lot’s price and what new homes nearby sold for. Not an appraisal or the builder’s price. How we estimate it

Lot purchase: $1.2M Nov 2025
Lot size: 9,374 sf 0.22 acres
Declared permit value: $450K as declared; real cost runs well higher
Home size: ~2,986 sf under air from the permit’s plans
Plan: Not in the permit
Flood zone: X
Waterfront: No
Ownership: Company-owned lot likely a custom home

Against the market

Delray Beach · since 2021

Build time, months from permit

0 mo30 mo60 mo

8.3 months since the permit application. A typical home off the water in Delray Beach takes 19; the middle half take 13.6–23.3.

Lot price vs. new-build lots in Totterdale

$0$1.63M$3.25M

This lot cost $1.2M. The median new-build lot in Totterdale went for $1.15M (9 lots).

This home
Middle half, Delray Beach off the water
352 homes off the water in Delray Beach permitted 2021–2023, from the permit application to the certificate-of-occupancy packet.
Median

How we calculate this

Construction log

2 city records

Jun 26, 2026Demolition permitDemolition Permit · Respond and Resubmit
Mar 1, 2026New-home permit filedResidential New Construction Permit · In review

Permit BLDR-011455-2026 on Delray Beach eServices: “new single family home”

Early access · not on the market

Interested in this home?

This looks like an owner’s own home, so it may never be listed. A licensed agent can still ask JM Properties of W Palm Beach about it, and flag similar homes before they reach the market.