Investing in real estate can be a lucrative opportunity, and this property presents a compelling case for potential investors. Located in a prime area of St Augustine, the home boasts a solid concrete block construction and modern finishes, making it an attractive option for renters. With a monthly rent of $2,031 and a cap rate of 7.1%, the financial metrics suggest a promising return on investment. However, investors should also consider the cash on cash return of 2.0% and the relatively low monthly cash flow of $108, which may impact overall profitability. Balancing these factors is crucial for making an informed decision.
| Property Detail Name | Property Detail Value |
|---|---|
| Address | 113 KING ARTHUR Court, St Augustine, FL 32086 |
| Property Type | Single Family |
| Price | $319,900 |
| Price Change | -$10,000 |
| Tax Assessed Value | $267,783 |
| Non Owner Occupied? | Yes |
| Pre Foreclosure Auction | No |
| Bedrooms | 3.0 |
| Bathrooms | 2.0 |
| Living Area | 1,477.0 |
| Lot Area | 6098.4 |
| Lot Area Unit | SQFT |
| Year Built | 2007 |
In conclusion, this property offers a mix of attractive financial metrics and potential drawbacks that investors must carefully consider. The strong cap rate and appealing rental income suggest a solid investment opportunity, particularly for those looking to enter the St Augustine market. However, the low cash on cash return and minimal monthly cash flow could pose challenges for investors seeking immediate financial benefits. It's essential to evaluate your investment strategy and risk tolerance before proceeding. Schedule your showing today to explore this promising opportunity further!
| Financial Metric Name | Financial Metric Value |
|---|---|
| Cash on Cash Return | 2.0% |
| Monthly Rent | $2,031 |
| Net Operating Income | $1,906 |
| Cap Rate | 7.1% |
| Monthly Cash Flow | $108 |
| Gross Rent Multiplier | 13.1 |
| Debt Service Coverage Ratio | 1.2 |
| Principal and Interest | $1,614 |
| Tax | $184 |
| HOA Fees | $29 |
| Insurance | $96 |
| Total Payment | $1,923 |