Real Estate

Pros & Cons of 3951 NE 175th Street Rd, Citra, FL 32113

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.

What are the Pros of 3951 NE 175th Street Rd, Citra, FL 32113?

  • Strong cash flow with a monthly rent of $2,054
  • Attractive cap rate of 7.4%, indicating good return potential
  • No HOA fees, allowing for greater flexibility and customization
  • Spacious living area with modern amenities, appealing to potential tenants
  • Large lot size providing privacy and outdoor space, enhancing property value

What are the Cons of 3951 NE 175th Street Rd, Citra, FL 32113?

  • Higher maintenance costs associated with a larger property
  • Potential challenges in tenant management due to the size of the home
  • Market fluctuations that could impact rental demand

What are potential Red Flags or Risks with 3951 NE 175th Street Rd, Citra, FL 32113?

  • Possible issues with property depreciation in a fluctuating market
  • Risk of vacancies affecting cash flow
  • Environmental factors that could impact the property value

Property Details for 3951 NE 175th Street Rd, Citra, FL 32113

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

Weighing the Investment Potential

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 Summary for 3951 NE 175th Street Rd, Citra, FL 32113

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