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$600,000

For Sale - Active
1208 Edington Pl Apt E204, Marco Island, FL 34145
2 Beds
2 Baths
1,000 Square Feet
0.00 Acres Lot
Built in 1973
For Sale - Active
Units n/a
Checked: 5 hours ago
Updated: Aug 30, 2025 at 10:22AM

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$592
Cap Rate
5.0%
Cash-on-Cash Return
-5.1%
Debt Coverage Ratio
0.81
Internal Rate of Return (5 years)
-1.0%

Property Description


0.00 Acres Lot
Built in 1973
For Sale - Active
Units n/a

Turn-key and exquisitely furnished, this completely remodeled waterfront condo offers a rare opportunity to own in Old Marco where fishing is excellent, one of Marco Island's most charming neighborhoods. Walk right up a flight of steps or take the elevator to the end unit on the second floor of a gated community, it showcases panoramic western water views, nightly sunsets, and abundant wildlife. Included in the sale is a deeded Boat Slip #3, for vessels up to 30 feet—with direct Gulf access, and no bridges. This is truly a boater's dream and a rare blend of coastal luxury and lifestyle convenience. The residence was tastefully updated and beautifully maintained, featuring wood-look tile flooring throughout, impact-rated windows and doors, solid wood interior doors, and an electric storm shutter on the lanai. The open style kitchen offers granite countertops, custom cabinetry, and newer stainless appliances, while both bathrooms have been reimagined with timeless finishes and elegant touches. From the bedroom and living areas, step onto the private lanai to take in glowing sunsets and tranquil water vistas. A fantastic investment or personal retreat, this residence offers great income potential and the perfect setting for seasonal enjoyment. Community amenities include elevator access, a heated pool, game tables, fishing pier, private boat launch, clubhouse, library, BBQ and picnic areas, bike storage, and a car wash station. With the boat slip included and nothing left to do, this is one of the island's most exceptional waterfront values.

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Location


Property Details


Parking

  • Details: Common
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

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

Interior Features

  • # of Rooms: 2
  • # of Stories: 1

Exterior Features

  • Roof Material: Built-Up, Flat
  • Pool: Yes
  • Pool Community: Yes

Land Information

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

Lot Information

  • Parcel ID: 80622560003
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Contemporary, Mid Rise
  • Year Built: 1973

Tax Information

  • Annual Tax: $4,179

Utilities

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

Location

  • County: Collier

Listing Details


Listed by:
Patrick Wilkins
Re/Max Alliance Group
(239) 290-8593

Source:
Florida Gulf Coast Multiple Listing Service
MLS#: 225063338
Florida Gulf Coast Multiple Listing Service

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
-$592
Cap Rate
5.0%
Cash-on-Cash Return
-5.1%
Debt Coverage Ratio
0.81
Internal Rate of Return (5 years)
-1.0%

Purchase Details

Find an Agent

Purchase price:
$600,000
Amount financed:
-$480,000
Down payment:
$120,000
Closing costs:
$18,000
Rehab costs:
$0
Initial cash invested:
$138,000
Square feet:
1,000
Cost per square foot:
$600
Monthly rent per square foot:
$4.10

Financing Details

Find a Lender

Loan amount:
$480,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$3,073
Property tax:
$348
Insurance:
$287
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,708

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$4,100 $49,200
Vacancy loss: (6%)
6% -$246 -$2,952
Operating income:
$3,854 $46,248

Operating Expenses


% Rent Monthly Yearly
Property taxes: (8%)
8%-$348-$4,180
Insurance: (7%)
7%-$287-$3,444
Property management: (8%)
8%-$328-$3,936
Repairs & maintenance: (5%)
5%-$205-$2,460
Capital expenditures: (5%)
5%-$205-$2,460
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (33%)
33%-$1,373-$16,480

Cash Flow


Monthly Yearly
Net operating income:
$2,481 $29,772
Mortgage payments:
-$3,073 -$36,876
Cash flow:
-$592 -$7,104