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$269,900

For Sale - Active
15420 Bellamar Cir Apt 3113, Fort Myers, FL 33908
3 Beds
2 Baths
1,043 Square Feet
0.00 Acres Lot
Built in 2004
For Sale - Active
Units n/a
Checked: 21 hours ago
Updated: Jun 02, 2025 at 03:13AM

Investment Summary


Monthly Cash Flow
-$625
Cap Rate
3.4%
Cash-on-Cash Return
-12.1%
Debt Coverage Ratio
0.55
Internal Rate of Return (5 years)
-7.7%

Property Description


0.00 Acres Lot
Built in 2004
For Sale - Active
Units n/a

This is the condo all the other condos in Beachwalk and Bellamar will be judged by! First floor condo with 3 good sized bedrooms, 2 bathrooms, great room design and lake front patio. Every day enjoy the stunning western view over the large lake with fountain. Tile floors (no carpet), upgraded stainless steel appliances, inside stackable washer/dryer and freshly painted walls in cheerful, tasteful, tropical colors. Screen lanai shaded by gorgeous cypress trees. And a short 2 minute walk to the community pool and clubhouse! This fully gated community has easily withstood hurricanes and floods because of it's unusual high elevation, superior constructions and brand new METAL roof that looks like tile. Unbeatible location just minutes from Fort Myers Beach and Sanibel Island. Target Superstore and Publix anchored shopping center just across the street! Lakes library and Healthpark hospital 5 minutes away. This also makes a RARE income producing property with 12 rentals allowed per year!! (30 day minimum) Easy to view and a 10 day closing is possible. (Don't forget to click the "VIRTUAL TOUR URL" link to see the short video of the stunning backyard view). The view alone is worth the asking price!! Don't delay...come enjoy your slice of paradise today.

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Location


Property Details


Parking

  • Description: Assigned, Guest, OneSpace
  • Details: Assigned, Guest
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Stories: 2

Exterior Features

  • Roof Material: Metal
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $465/monthly

Land Information

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

Lot Information

  • Parcel ID: 3145245400031.3113
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Other, Low Rise
  • Year Built: 2004

Tax Information

  • Annual Tax: $1,050

Utilities

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

Location

  • County: Lee

Listing Details


Listed by:
Gerard Marino
Cornerstone Coastal Properties
(239) 851-8883

Source:
Florida Gulf Coast Multiple Listing Service
MLS#: 225015698
Florida Gulf Coast Multiple Listing Service

Investment Summary


Monthly Cash Flow
-$625
Cap Rate
3.4%
Cash-on-Cash Return
-12.1%
Debt Coverage Ratio
0.55
Internal Rate of Return (5 years)
-7.7%

Purchase Details

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Purchase price:
$269,900
Amount financed:
-$215,920
Down payment:
$53,980
Closing costs:
$8,097
Rehab costs:
$0
Initial cash invested:
$62,077
Square feet:
1,043
Cost per square foot:
$259
Monthly rent per square foot:
$1.82

Financing Details

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Loan amount:
$215,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,383
Property tax:
$88
Insurance:
$133
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,604

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,900 $22,800
Vacancy loss: (6%)
6% -$114 -$1,368
Operating income:
$1,786 $21,432

Operating Expenses


% Rent Monthly Yearly
Property taxes: (5%)
5%-$88-$1,050
Insurance: (7%)
7%-$133-$1,596
Property management: (8%)
8%-$152-$1,824
Repairs & maintenance: (5%)
5%-$95-$1,140
Capital expenditures: (5%)
5%-$95-$1,140
HOA fees: (24%)
24%-$465-$5,580
Total operating expenses: (54%)
54%-$1,028-$12,330

Cash Flow


Monthly Yearly
Net operating income:
$758 $9,096
Mortgage payments:
-$1,383 -$16,596
Cash flow:
$625 $7,500