Investing in real estate can be a rewarding venture, and this unique property offers both charm and potential. With two homes on 18.6 acres, it presents an opportunity for a tranquil lifestyle or a lucrative investment. The newly remodeled mobile home and the enchanting two-story house provide versatility for either permanent residence or vacation rentals. However, potential investors should be aware of the current negative cash flow and the cash on cash return that is in the red. Balancing these factors is crucial for making an informed decision.
| Property Detail Name | Property Detail Value |
|---|---|
| Address | 18653 137th Cres SE, White Springs, FL 32096 |
| Property Type | Single Family |
| Price | $549,000 |
| Price Change | $284,000 |
| Tax Assessed Value | $100,201 |
| Non Owner Occupied? | Yes |
| Pre Foreclosure Auction | No |
| Bedrooms | 5.0 |
| Bathrooms | 4.0 |
| Living Area | 0.0 |
| Lot Area | 18.6 |
| Lot Area Unit | ACRES |
| Year Built | 0 |
In conclusion, this property presents a mixed bag of financial opportunities and challenges for potential investors. On the positive side, the dual homes and expansive land offer significant rental potential, especially in a desirable location near outdoor attractions. However, the current negative cash flow and low cash on cash return raise concerns about immediate profitability. Investors must carefully consider their financial strategy and long-term goals before proceeding. With the right management and market conditions, this property could transform into a valuable asset, but it requires a thorough analysis and a willingness to navigate its financial complexities.
| Financial Metric Name | Financial Metric Value |
|---|---|
| Cash on Cash Return | -8.3% |
| Monthly Rent | $2,481 |
| Net Operating Income | $2,316 |
| Cap Rate | 5.1% |
| Monthly Cash Flow | -$762 |
| Gross Rent Multiplier | 18.4 |
| Debt Service Coverage Ratio | 0.8 |
| Principal and Interest | $2,767 |
| Tax | $311 |
| HOA Fees | $0 |
| Insurance | $165 |
| Total Payment | $3,243 |