Investing in real estate can be a lucrative opportunity, and this property presents a compelling case for potential investors. With a roomy 4-bedroom, 2.5-bath mobile home situated on 6 secluded acres, it offers both privacy and convenience, being just minutes from town. The financial metrics are promising, showcasing a cash on cash return of 7.7% and a cap rate of 8.3%, which are attractive figures for any investor. However, it's essential to consider the potential downsides, such as the ongoing maintenance costs and the nature of mobile home investments, which can sometimes be less stable than traditional properties. Overall, this property has the potential to be a solid investment, but careful consideration of both its advantages and disadvantages is crucial.
Property Detail Name | Property Detail Value |
---|---|
Address | 9941 80th Ter, Live Oak, FL 32064 |
Property Type | Manufactured |
Price | $276,900 |
Price Change | -$19,000 |
Tax Assessed Value | $154,520 |
Non Owner Occupied? | Yes |
Pre Foreclosure Auction | No |
Bedrooms | 4.0 |
Bathrooms | 3.0 |
Living Area | 2,776.0 |
Lot Area | 6.0 |
Lot Area Unit | ACRES |
Year Built | 1999 |
In conclusion, this property offers a unique blend of advantages and challenges for potential investors. The strong cash flow and attractive cap rate suggest a promising return on investment, while the absence of HOA fees adds to its financial appeal. However, the nature of mobile home investments can introduce risks, particularly regarding stability and resale value. Investors should carefully assess their risk tolerance and consider the long-term implications of owning a mobile home in a secluded area. Ultimately, this property could be a worthwhile addition to a diversified real estate portfolio, provided that due diligence is conducted.
Financial Metric Name | Financial Metric Value |
---|---|
Cash on Cash Return | 7.7% |
Monthly Rent | $1,990 |
Net Operating Income | $1,907 |
Cap Rate | 8.3% |
Monthly Cash Flow | $354 |
Gross Rent Multiplier | 11.6 |
Debt Service Coverage Ratio | 1.4 |
Principal and Interest | $1,371 |
Tax | $182 |
HOA Fees | $0 |
Insurance | $83 |
Total Payment | $1,636 |