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$364,900

For Sale - Active
1093 Wabash Rd SE, Palm Bay, FL 32909
4 Beds
2 Baths
1,918 Square Feet
0.25 Acres Lot
Built in 2022
For Sale - Active
1 Units
Checked: 8 hours ago
Updated: Jul 04, 2025 at 03:07AM

Investment Summary


Monthly Cash Flow
-$613
Cap Rate
4.1%
Cash-on-Cash Return
-8.8%
Debt Coverage Ratio
0.67
Internal Rate of Return (5 years)
-4.5%

Property Description


0.25 Acres Lot
Built in 2022
For Sale - Active
1 Units

Why wait to build when you can move right in to this new build?! This concrete block 4 bed/ 2 bath home sits on an oversized corner lot surrounded by bamboo trees. Just shy of 2,000 sq ft, this home features an open floor plan and split bedrooms mixing comfort and privacy. Two car garage with a long driveway for additional parking. Additional features include: Updated security system, new gutters, new flooring in bedrooms, brand new water filtration system for entire house, S/S appliances, all new landscaping. No HOA and great location! Bring your RV/boat!

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Location


Property Details


Parking

  • Description: Attached
  • Details: Attached, Driveway, Garage
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

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

Interior Features

  • # of Rooms: 7
  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: Gable or Hip
  • Roof Material: Composition, Shingle

HOA

  • Association: PORT MALABAR UNIT 16

Land Information

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

Lot Information

  • Parcel ID: 293717GP00741.00009.00
  • Lot Size: 10890 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 2022

Tax Information

  • Annual Tax: $4,799

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air, Ceiling Fan(s), Electric

Location

  • County: Brevard

Listing Details


Listed by:
E.L. Billero
Billero & Billero - Beach Offc
(772) 633-3201

Source:
BeachesMLS
MLS#: R11098292
BeachesMLS

Investment Summary


Monthly Cash Flow
-$613
Cap Rate
4.1%
Cash-on-Cash Return
-8.8%
Debt Coverage Ratio
0.67
Internal Rate of Return (5 years)
-4.5%

Purchase Details

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Purchase price:
$364,900
Amount financed:
-$291,920
Down payment:
$72,980
Closing costs:
$10,947
Rehab costs:
$0
Initial cash invested:
$83,927
Square feet:
1,918
Cost per square foot:
$190
Monthly rent per square foot:
$1.25

Financing Details

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Loan amount:
$291,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,869
Property tax:
$400
Insurance:
$168
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,437

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,400 $28,800
Vacancy loss: (6%)
6% -$144 -$1,728
Operating income:
$2,256 $27,072

Operating Expenses


% Rent Monthly Yearly
Property taxes: (17%)
17%-$400-$4,799
Insurance: (7%)
7%-$168-$2,016
Property management: (8%)
8%-$192-$2,304
Repairs & maintenance: (5%)
5%-$120-$1,440
Capital expenditures: (5%)
5%-$120-$1,440
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (42%)
42%-$1,000-$11,999

Cash Flow


Monthly Yearly
Net operating income:
$1,256 $15,072
Mortgage payments:
-$1,869 -$22,428
Cash flow:
$613 $7,356