Cape Coral investment home with tenant in place

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Cape Coral investment home with tenant paying $850 per month

Good location – home near intersection of Chiquita Blvd N and Diplomat Pkwy W.

Quick easy access to Shopping, Restaurants and entertainment. Minutes by car to
Schools and the new Lee County library in North Cape Coral.

Utilities are Private Well and Septic System.

SIMILAR / ASSET SOLD AT PEAK:       $260,000 -$280,000 (2005)

YEAR BUILT:                                           2005

SIZE-SQFT UNDER AIR:                           1841–  Total building Sqft= $2,591

Lot-Size                                                        10,000 Sq Ft,   80 foot frontage, 125 foot deep

BEDS:              3                                          BATHS:                 2

PARKING:                                                 Attached two car garage.

PURCHASEPRICE:                                  $95,000

PRICE PER SQFT UNDER AIR:               $51.60

REPLACEMENT COST:                            $214,203

TAX (YEAR):                                             $1,702.09 (2010)

INSURANCE:                                            $814.00 (2011)

MANAGEMENT FEE:                              $714.00  (7% of net rent/ year)

TOTAL ANNUAL EXPENSES:                  $3,230.09

RENT (MONTHY):                                    $850

ESTIMATED ANNUAL RENT:             $10,200

ESTIMATED ANNUAL NET INCOME:    $6969.91

ESTIMATED NET  YIELD CAP RATE:        7.3%

*This is based off of current market conditions and seller does not guarantee specific returns.*