Cape Coral New Construction

[Tim Stuart]

Hello BP Community!!

I am wondering if there's anyone out there that has experience with the New Construction Duplex model in SW Florida. I have been analyzing properties in that market and it seems appealing. Any thoughts?? 

The base models are offered at $300,000 and require earnest money to secure the lot of your choice, with the 20% down payment due upon closing once construction is complete. The models are 3 bed, 2 bath with a 1.5 car garage and rent for approximately $1300/unit. Property tax and insurance total around $525/month which includes the cost to maintain the septic system. Net cash flow is approximately $575 assuming a 9% property management fee. I feel the play here is the potential for appreciation over the next 3-7 years.

Thanks for your time spend reading my post!

[Carl Hebert]

@Tim Stuart - Not sure what towns you are looking at, but you may also want to check if the city is planning on bringing sewer into the area as this will be a future costs for you also. Cape Coral is been expanding it's sewer system for a while now. 

Also you will want to walk through a completed home that the company has built to see the quality of work and materials being used. Not all new construction is good construction.

@Stetson Miller has some very valid points also on location for future appreciation.

Carl