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$339,000

For Sale - Active
12109 Palm Cove St, Fort Myers, FL 33913
3 Beds
3 Baths
1,829 Square Feet
0.00 Acres Lot
Built in 2016
For Sale - Active
Units n/a
Checked: 6 hours ago
Updated: Jun 12, 2025 at 03:02AM

Investment Summary


Monthly Cash Flow
-$632
Cap Rate
3.9%
Cash-on-Cash Return
-9.7%
Debt Coverage Ratio
0.64
Internal Rate of Return (5 years)
-5.4%

Property Description


0.00 Acres Lot
Built in 2016
For Sale - Active
Units n/a

New carpet and paint! Low taxes and lowest HOA fees. Best location in Southwest Florida. This versatile townhome in fabulous Gateway Country Club area on a golf course lot with privacy views, five minutes from RSW International Airport and minutes from dining, shopping, beaches, Twins and Red Sox ballparks. In the prestigious Hammock Cove community, this townhome features a generous 1,829 square feet of living space, two-bedroom, 2.5-bath and a two-car garage. The elegant all-tile first floor leads to a generous kitchen with granite countertops, a dining area, newer appliances and plenty of cabinet space. The convenience of a second-floor laundry room enhances daily living. Upstairs, the oversized primary bedroom provides ample space for your furnishings, a large walk-in closet, and an ensuite bath with double sinks and a walk-in shower. The guest bedrooms are equally spacious and filled with natural light. Community pool in close distance is a plus.

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Location


Property Details


Parking

  • Description: Attached, Garage, DetachedCarport, GarageDoorOpener
  • Details: Attached, Garage, Detached Carport, Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Stories: 2

Exterior Features

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

HOA

  • Has HOA: Yes
  • HOA Fee: $998/quarterly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Townhouse

Lot Information

  • Parcel ID: 184526L140000.0560
  • Lot Size: 0 sqft

Property Information

  • Property Type: Townhouse
  • Style: Coach Carriage, Two Story
  • Year Built: 2016

Tax Information

  • Annual Tax: $3,443

Utilities

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

Location

  • County: Lee

Listing Details


Listed by:
Pamela Stevenson
Premier Sotheby's Int'l Realty
(810) 599-7210

Source:
Florida Gulf Coast Multiple Listing Service
MLS#: 225041054
Florida Gulf Coast Multiple Listing Service

Investment Summary


Monthly Cash Flow
-$632
Cap Rate
3.9%
Cash-on-Cash Return
-9.7%
Debt Coverage Ratio
0.64
Internal Rate of Return (5 years)
-5.4%

Purchase Details

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Purchase price:
$339,000
Amount financed:
-$271,200
Down payment:
$67,800
Closing costs:
$10,170
Rehab costs:
$0
Initial cash invested:
$77,970
Square feet:
1,829
Cost per square foot:
$185
Monthly rent per square foot:
$1.37

Financing Details

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Loan amount:
$271,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,737
Property tax:
$287
Insurance:
$175
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,199

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,500 $30,000
Vacancy loss: (6%)
6% -$150 -$1,800
Operating income:
$2,350 $28,200

Operating Expenses


% Rent Monthly Yearly
Property taxes: (11%)
11%-$287-$3,443
Insurance: (7%)
7%-$175-$2,100
Property management: (8%)
8%-$200-$2,400
Repairs & maintenance: (5%)
5%-$125-$1,500
Capital expenditures: (5%)
5%-$125-$1,500
HOA fees: (13%)
13%-$333-$3,996
Total operating expenses: (50%)
50%-$1,245-$14,939

Cash Flow


Monthly Yearly
Net operating income:
$1,105 $13,260
Mortgage payments:
-$1,737 -$20,844
Cash flow:
$632 $7,584