Investing in real estate can be a rewarding venture, and this property offers a unique blend of comfort and potential financial benefits. With a spacious 3-bedroom, 2-bathroom layout on nearly 5 acres, it presents an inviting atmosphere for both personal enjoyment and rental opportunities. The property boasts a solid cash flow with a monthly rent of $2,052 and a cap rate of 7.1%, making it an attractive option for investors. However, potential buyers should also consider the cash on cash return of 1.7%, which may not meet the expectations of all investors. Overall, this property stands out for its charm and investment potential, but it is essential to weigh both the positives and negatives before making a decision.
Property Detail Name | Property Detail Value |
---|---|
Address | 140 PEAR Street, Welaka, FL 32193 |
Property Type | Manufactured |
Price | $329,900 |
Price Change | $0 |
Tax Assessed Value | $165,360 |
Non Owner Occupied? | Yes |
Pre Foreclosure Auction | No |
Bedrooms | 3.0 |
Bathrooms | 2.0 |
Living Area | 2,094.0 |
Lot Area | 4.9 |
Lot Area Unit | ACRES |
Year Built | 2003 |
In conclusion, this property presents a compelling opportunity for real estate investors, particularly those seeking a charming home with rental potential. The strong cap rate and solid monthly rent indicate a favorable income stream, while the move-in ready condition minimizes initial costs. However, the modest cash flow and low cash on cash return may deter some investors looking for higher yields. It's crucial to consider the local market dynamics and potential risks before making a commitment. Overall, this property could be a valuable addition to an investment portfolio, but thorough due diligence is essential to ensure it aligns with your financial goals.
Financial Metric Name | Financial Metric Value |
---|---|
Cash on Cash Return | 1.7% |
Monthly Rent | $2,052 |
Net Operating Income | $1,953 |
Cap Rate | 7.1% |
Monthly Cash Flow | $93 |
Gross Rent Multiplier | 13.4 |
Debt Service Coverage Ratio | 1.2 |
Principal and Interest | $1,665 |
Tax | $195 |
HOA Fees | $0 |
Insurance | $99 |
Total Payment | $1,959 |