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$320,000

Under Contract
1402 SE 1st Ter, Cape Coral, FL 33990
3 Beds
2 Baths
1,826 Square Feet
0.23 Acres Lot
Built in 1993
Under Contract
Units n/a
Checked: 13 hours ago
Updated: Jul 30, 2025 at 04:22AM

Investment Summary


Monthly Cash Flow
-$424
Cap Rate
4.6%
Cash-on-Cash Return
-6.9%
Debt Coverage Ratio
0.74
Internal Rate of Return (5 years)
-2.7%

Property Description


0.23 Acres Lot
Built in 1993
Under Contract
Units n/a

Immaculate Move-In Ready Home in One of Cape Coral’s Premier Neighborhoods! Nestled on a quiet, well-maintained street in one of the most desirable areas of Cape Coral, this beautifully maintained 3-bedroom, 2-bathroom home offers the perfect blend of comfort, style, and Florida living. With exceptional curb appeal and a thoughtfully designed split-bedroom floor plan, this home is truly move-in ready. Step inside to a spacious, light-filled interior that flows effortlessly from room to room. The open-concept living and dining area connects seamlessly to the kitchen, creating an ideal space for entertaining or relaxing. Each of the three generously sized bedrooms is positioned to maximize privacy, making the layout perfect for families, guests, or a home office. The bathrooms are tastefully finished and in excellent condition, offering both functionality and charm. The covered lanai provides a peaceful outdoor retreat, ideal for morning coffee, evening cocktails, or weekend gatherings. The home also features a 2-car garage with plenty of storage, a dedicated laundry area, and beautifully maintained landscaping that enhances the home’s inviting exterior. Recent upgrades add incredible value and peace of mind. The roof was replaced just two years ago, the water heater is approximately one year old, and all appliances were updated in 2020. The home was painted two years ago and comes with a transferable seven-year warranty. The garage door opener has also been recently replaced. Best of all, all city ASSESSMENTS ARE PAID IN FULL and the property is NOT LOCATED IN A FLOOD ZONE —an added layer of security for the new owner. Ideally located just minutes from shopping, dining, parks, schools, and the vibrant Cape Coral entertainment scene, this home offers the perfect combination of peaceful living and urban convenience. Whether you’re searching for a full-time residence, seasonal getaway, or investment opportunity, this home is a rare find and won’t last long. Don’t miss your chance to own a slice of paradise in Southwest Florida.

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Location


Property Details


Parking

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

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Rooms: 0
  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: IRR/Cathedral
  • Roof Material: Shingle

Land Information

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

Lot Information

  • Parcel ID: 184424C201463.0100
  • Lot Size: 10019 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch, Single Family
  • Year Built: 1993

Tax Information

  • Annual Tax: $5,296

Utilities

  • Heating: Central, Electric
  • Cooling: Ceiling Fan(s)

Location

  • County: Lee

Listing Details


Listed by:
Mike Darda
Compass Florida LLC
(239) 256-3733

Source:
Naples Area Board of REALTORS
MLS#: 225024692
Naples Area Board of REALTORS

Investment Summary


Monthly Cash Flow
-$424
Cap Rate
4.6%
Cash-on-Cash Return
-6.9%
Debt Coverage Ratio
0.74
Internal Rate of Return (5 years)
-2.7%

Purchase Details

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Purchase price:
$320,000
Amount financed:
-$256,000
Down payment:
$64,000
Closing costs:
$9,600
Rehab costs:
$0
Initial cash invested:
$73,600
Square feet:
1,826
Cost per square foot:
$175
Monthly rent per square foot:
$1.31

Financing Details

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Loan amount:
$256,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,639
Property tax:
$441
Insurance:
$168
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,248

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: (18%)
18%-$441-$5,296
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: (43%)
43%-$1,041-$12,496

Cash Flow


Monthly Yearly
Net operating income:
$1,215 $14,580
Mortgage payments:
-$1,639 -$19,668
Cash flow:
$424 $5,088