Investing in real estate can be a lucrative venture, and this property in Citra offers a unique opportunity for potential investors. With a spacious 2019 double-wide mobile home set on over 3 acres of serene land, it presents a comfortable living experience with ample space for customization. The financial metrics indicate a solid cash flow and a favorable cap rate, making it an attractive option. However, investors should also consider the potential challenges, such as the ongoing maintenance of a larger property and the need for effective tenant management. Balancing these pros and cons is essential for making an informed investment decision.
Property Detail Name | Property Detail Value |
---|---|
Address | 3951 NE 175th Street Rd, Citra, FL 32113 |
Property Type | Manufactured |
Price | $315,999 |
Price Change | -$9,000 |
Tax Assessed Value | $258,862 |
Non Owner Occupied? | Yes |
Pre Foreclosure Auction | No |
Bedrooms | 4.0 |
Bathrooms | 2.0 |
Living Area | 2,320.0 |
Lot Area | 3.01 |
Lot Area Unit | ACRES |
Year Built | 2017 |
In conclusion, this property presents a compelling investment opportunity with its strong cash flow and attractive cap rate. The absence of HOA fees and the spacious layout are significant advantages that can enhance tenant appeal and overall property value. However, investors must remain vigilant about the potential risks, including maintenance costs and market fluctuations that could affect rental demand. By carefully analyzing these financial factors and considering the unique characteristics of the property, investors can make a well-informed decision. If you're looking for a promising real estate investment, this property could be the right fit for you. Don't miss out on the chance to explore this opportunity further!
Financial Metric Name | Financial Metric Value |
---|---|
Cash on Cash Return | 3.6% |
Monthly Rent | $2,054 |
Net Operating Income | $1,959 |
Cap Rate | 7.4% |
Monthly Cash Flow | $187 |
Gross Rent Multiplier | 12.8 |
Debt Service Coverage Ratio | 1.2 |
Principal and Interest | $1,593 |
Tax | $179 |
HOA Fees | $0 |
Insurance | $95 |
Total Payment | $1,867 |