Investing in real estate can be a rewarding venture, and this charming 3-bedroom, 2-bath home in Flagler Estates presents a compelling opportunity. With a generous 1.14-acre lot and a recently renovated interior, the property boasts a bright, open floor plan and modern amenities that appeal to potential renters. Financially, it offers a solid cash on cash return of 6.8% and a cap rate of 8.0%, making it an attractive option for investors. However, it's essential to consider the potential challenges, such as the ongoing maintenance of a larger property and the need for effective tenant management. Overall, this property strikes a balance between comfort and investment potential, making it worth a closer look.
Property Detail Name | Property Detail Value |
---|---|
Address | 10310 Crotty Ave, Hastings, FL 32145 |
Property Type | Manufactured |
Price | $200,000 |
Price Change | -$10,000 |
Tax Assessed Value | $112,988 |
Non Owner Occupied? | Yes |
Pre Foreclosure Auction | No |
Bedrooms | 3.0 |
Bathrooms | 2.0 |
Living Area | 960.0 |
Lot Area | 1.14 |
Lot Area Unit | ACRES |
Year Built | 1996 |
In conclusion, this property offers a unique blend of comfort and investment potential that could appeal to both new and seasoned investors. The strong cash flow and cap rate suggest a solid return on investment, while the absence of HOA fees adds to its financial attractiveness. However, investors should remain cautious of the potential risks associated with property maintenance and market fluctuations. Balancing these positive and negative factors will be crucial in determining whether this property aligns with your investment strategy. If you're looking for a property that combines space, charm, and financial opportunity, this could be the right fit for you.
Financial Metric Name | Financial Metric Value |
---|---|
Cash on Cash Return | 6.8% |
Monthly Rent | $1,399 |
Net Operating Income | $1,339 |
Cap Rate | 8.0% |
Monthly Cash Flow | $225 |
Gross Rent Multiplier | 11.9 |
Debt Service Coverage Ratio | 1.3 |
Principal and Interest | $999 |
Tax | $115 |
HOA Fees | $0 |
Insurance | $60 |
Total Payment | $1,174 |