Investing in real estate can be a rewarding venture, and this property presents a unique opportunity in the vibrant St. Augustine Shores community. With its recent renovations and solid construction, it offers both comfort and affordability, making it an attractive option for potential investors. However, while the property boasts a strong cap rate and a wealth of community amenities, it also comes with challenges such as a negative cash flow and a cash-on-cash return that may raise concerns for some investors. Balancing these factors is crucial for making an informed decision.
| Property Detail Name | Property Detail Value |
|---|---|
| Address | 247 Shores Blvd, Saint Augustine, FL 32086 |
| Property Type | Single Family |
| Price | $315,000 |
| Price Change | -$5,000 |
| Tax Assessed Value | $258,438 |
| Non Owner Occupied? | Yes |
| Pre Foreclosure Auction | No |
| Bedrooms | 3.0 |
| Bathrooms | 2.0 |
| Living Area | 1,388.0 |
| Lot Area | 7840.8 |
| Lot Area Unit | SQFT |
| Year Built | 1975 |
In conclusion, this property presents a mixed bag of financial opportunities and challenges for potential investors. On the positive side, the strong cap rate and recent renovations enhance its attractiveness, while the community amenities and prime location promise a steady demand for rentals. However, the negative cash flow and low cash-on-cash return raise valid concerns that must be addressed. Investors should carefully consider their financial strategy and risk tolerance before proceeding, as the balance between potential rewards and inherent risks will ultimately dictate the success of this investment.
| Financial Metric Name | Financial Metric Value |
|---|---|
| Cash on Cash Return | -0.7% |
| Monthly Rent | $1,860 |
| Net Operating Income | $1,732 |
| Cap Rate | 6.6% |
| Monthly Cash Flow | -$38 |
| Gross Rent Multiplier | 14.1 |
| Debt Service Coverage Ratio | 1.1 |
| Principal and Interest | $1,589 |
| Tax | $181 |
| HOA Fees | $33 |
| Insurance | $95 |
| Total Payment | $1,898 |