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$179,900

For Sale - Active
15140 Riverbend Blvd Apt 508, North Fort Myers, FL 33917
2 Beds
2 Baths
1,079 Square Feet
0.00 Acres Lot
Built in 1988
For Sale - Active
Units n/a
Checked: 16 hours ago
Updated: Jul 16, 2025 at 06:55AM

Investment Summary


Monthly Cash Flow
$96
Cap Rate
6.8%
Cash-on-Cash Return
2.8%
Debt Coverage Ratio
1.10
Internal Rate of Return (5 years)
6.7%

Property Description


0.00 Acres Lot
Built in 1988
For Sale - Active
Units n/a

This charming, second-story, waterfront condo in North Fort Myers is located in the Indian Creek Golf Villas I section of Riverbend. Perfect for boating enthusiasts, Riverbend features a community boat dock that is on a first come, first served basis, and leads out to the Caloosahatchee River through a peaceful, winding canal. Relax and watch the boats go by from the screened and enclosed lanai. Tastefully updated and being offered furnished, this 2 bedroom, 2 bathroom condo is the perfect seasonal retreat or full-time residence. The vaulted ceiling accentuates the warm and inviting living room and dining room combination, while the kitchen features updates that include granite countertops, stainless steel appliances and a tray ceiling. Additional features include a new roof, newly updated dock, and assigned covered carport parking space. Riverbend is conveniently located near US 41 and the Historic River District of downtown Fort Myers, providing easy access to shopping, dining and entertainment. Don't miss out on this fantastic condo - see it today!

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Location


Property Details


Parking

  • Description: Assigned, Covered, OneSpace, DetachedCarport
  • Details: Assigned, Covered, Detached Carport
  • 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 Stories: 2

Exterior Features

  • Roof Material: Shingle

HOA

  • Has HOA: Yes
  • HOA Fee: $425/annually

Land Information

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

Lot Information

  • Parcel ID: 3143251700000.5080
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Other, Two Story, Low Rise
  • Year Built: 1988

Tax Information

  • Annual Tax: $2,270

Utilities

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

Location

  • County: Lee

Listing Details


Listed by:
Damon Vetere
Coldwell Banker Realty
(239) 851-5600

Source:
Florida Gulf Coast Multiple Listing Service
MLS#: 225035826
Florida Gulf Coast Multiple Listing Service

Investment Summary


Monthly Cash Flow
$96
Cap Rate
6.8%
Cash-on-Cash Return
2.8%
Debt Coverage Ratio
1.10
Internal Rate of Return (5 years)
6.7%

Purchase Details

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Purchase price:
$179,900
Amount financed:
-$143,920
Down payment:
$35,980
Closing costs:
$5,397
Rehab costs:
$0
Initial cash invested:
$41,377
Square feet:
1,079
Cost per square foot:
$167
Monthly rent per square foot:
$1.67

Financing Details

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Loan amount:
$143,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$922
Property tax:
$189
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,237

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (11%)
11%-$189-$2,271
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (2%)
2%-$35-$420
Total operating expenses: (37%)
37%-$674-$8,091

Cash Flow


Monthly Yearly
Net operating income:
$1,018 $12,216
Mortgage payments:
-$922 -$11,064
Cash flow:
$96 $1,152