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$379,999

For Sale - Active
1082 Ridgeway Dr, North Fort Myers, FL 33903
3 Beds
2 Baths
1,404 Square Feet
0.00 Acres Lot
Built in 2007
For Sale - Active
Units n/a
Checked: 13 hours ago
Updated: Jul 16, 2025 at 06:40AM

Investment Summary


Monthly Cash Flow
-$726
Cap Rate
3.9%
Cash-on-Cash Return
-10.0%
Debt Coverage Ratio
0.63
Internal Rate of Return (5 years)
-5.7%

Property Description


0.00 Acres Lot
Built in 2007
For Sale - Active
Units n/a

Welcome to your new home in North Fort Myers, just seconds from Cape Coral! This well-maintained 2007-built home boasts 1,404 sq ft of comfortable living space, featuring three spacious bedrooms with tile and laminate flooring. You'll appreciate the convenience of two full bathrooms and a generous two-car garage. For those with an RV or food truck, there's an ideal parking space on the side of the home, complete with a 220 amp connection for easy access to power. There's ample room for your boat or work truck, ensuring all your vehicles have a home. Rest easy knowing that the roof was recently replaced in 2023, offering peace of mind for years to come. Escape the heat under two charming pergolas in the backyard, surrounded by various fruit trees, providing both shade and tranquility. This home is not in a flood zone. Don't miss the opportunity to make this wonderful property your own!

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Location


Property Details


Parking

  • Description: Attached, Driveway, Garage, Paved, GarageDoorOpener
  • Details: Attached, Driveway, Garage, Paved, Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: Hip
  • Roof Material: Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 0944240400000.3020
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch, One Story
  • Year Built: 2007

Tax Information

  • Annual Tax: $3,567

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air, Electric

Location

  • County: Lee

Listing Details


Listed by:
Heather Sowder
Palm Paradise Realty Group
(239) 257-9632

Source:
Florida Gulf Coast Multiple Listing Service
MLS#: 224083971
Florida Gulf Coast Multiple Listing Service

Investment Summary


Monthly Cash Flow
-$726
Cap Rate
3.9%
Cash-on-Cash Return
-10.0%
Debt Coverage Ratio
0.63
Internal Rate of Return (5 years)
-5.7%

Purchase Details

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Purchase price:
$379,999
Amount financed:
-$303,999
Down payment:
$76,000
Closing costs:
$11,400
Rehab costs:
$0
Initial cash invested:
$87,400
Square feet:
1,404
Cost per square foot:
$271
Monthly rent per square foot:
$1.57

Financing Details

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Loan amount:
$303,999
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,947
Property tax:
$297
Insurance:
$154
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,398

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,200 $26,400
Vacancy loss: (6%)
6% -$132 -$1,584
Operating income:
$2,068 $24,816

Operating Expenses


% Rent Monthly Yearly
Property taxes: (14%)
14%-$297-$3,568
Insurance: (7%)
7%-$154-$1,848
Property management: (8%)
8%-$176-$2,112
Repairs & maintenance: (5%)
5%-$110-$1,320
Capital expenditures: (5%)
5%-$110-$1,320
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (39%)
39%-$847-$10,168

Cash Flow


Monthly Yearly
Net operating income:
$1,221 $14,652
Mortgage payments:
-$1,947 -$23,364
Cash flow:
$726 $8,712