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$235,000

Sold
1102 SE 39th Ter Apt 103, Cape Coral, FL 33904
2 Beds
3 Baths
1,422 Square Feet
0.00 Acres Lot
Built in 1982
Sold
Units n/a
Checked: 13 hours ago
Updated: Oct 03, 2025 at 10:26AM

Investment Summary


Monthly Cash Flow
-$747
Cap Rate
2.3%
Cash-on-Cash Return
-16.6%
Debt Coverage Ratio
0.38
Internal Rate of Return (5 years)
-12.0%

Property Description


0.00 Acres Lot
Built in 1982
Sold
Units n/a

Welcome to your slice of paradise! This beautifully-decorated waterfront townhouse features two master suites, a half bathroom downstairs and an attached garage — a rare perk in this area. The entire complex is freshly painted with a brand new metal roof and gutters installed in 2024. This unit also features electric roll-down aluminum hurricane shutters for peace of mind. Tucked away in a quiet neighborhood off Country Club Blvd., this prime location is convenient to both the Veterans Bridge and Cape Coral Bridge and, by boat, it's only a 15-minute ride to the river! Add your own boat slip and lift — with HOA approval — or just enjoy fishing off the community dock. Catch sunrise and sunset from your south-facing lanais both upstairs and downstairs. Enjoy entertaining family and friends in your open kitchen and spacious living area. This is an ideal spot for a full-time residence or a seasonal retreat!

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Location


Property Details


Parking

  • Description: Attached, Garage
  • Details: Assigned, Attached, Garage, Guest, Garage Door Opener
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 2

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: IRR/Cathedral
  • Roof Material: Metal
  • Pool: Yes
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • Additional HOA Fee: $2,187/quarterly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 064524C402700.1030
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Coach Carriage, Two Story, Low Rise
  • Year Built: 1982

Tax Information

  • Annual Tax: $3,978

Utilities

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

Location

  • County: Lee

Listing Details


Listed by:
Annie Richards
RE/MAX Nautical Realty
(717) 514-9420

Source:
Florida Gulf Coast Multiple Listing Service
MLS#: 2025006072
Florida Gulf Coast Multiple Listing Service

Investment Summary


Monthly Cash Flow
-$747
Cap Rate
2.3%
Cash-on-Cash Return
-16.6%
Debt Coverage Ratio
0.38
Internal Rate of Return (5 years)
-12.0%

Purchase Details

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Purchase price:
$235,000
Amount financed:
-$188,000
Down payment:
$47,000
Closing costs:
$7,050
Rehab costs:
$0
Initial cash invested:
$54,050
Square feet:
1,422
Cost per square foot:
$165
Monthly rent per square foot:
$1.55

Financing Details

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Loan amount:
$188,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,204
Property tax:
$332
Insurance:
$154
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,690

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: (15%)
15%-$332-$3,979
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: (33%)
33%-$729-$8,748
Total operating expenses: (73%)
73%-$1,611-$19,327

Cash Flow


Monthly Yearly
Net operating income:
$457 $5,484
Mortgage payments:
-$1,204 -$14,448
Cash flow:
-$747 -$8,964