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$219,900

Sold
17745 Grande Bayou Ct, Fort Myers, FL 33908
2 Beds
2 Baths
1,222 Square Feet
0.00 Acres Lot
Built in 1984
Sold
Units n/a
Checked: 44 minutes ago
Updated: Jun 28, 2025 at 02:47AM

Investment Summary


Monthly Cash Flow
-$451
Cap Rate
3.8%
Cash-on-Cash Return
-10.7%
Debt Coverage Ratio
0.61
Internal Rate of Return (5 years)
-6.4%

Property Description


0.00 Acres Lot
Built in 1984
Sold
Units n/a

Are you looking for a great investment opportunity? This property is located in a highly sought after area with a great location. This villa features 2 bedroom, 2 bathrooms, and a 1 car garage. It is located on a cul-de-sac within walking distance to the club house. Island Park Village is conveniently located in South Fort Myers close to shopping, SW Florida Beaches, hospitals, restaurants, entertainment, and more. Some of the community amenities include a pool, jacuzzi, tennis court, and a shuffle board. This unit was affected by hurricane Ian. The HOA carries flood insurance on all the units. The sellers will assign the remainder of the HOA insurance benefits" to the new buyer. The villa offers a new AC unit, a new water heater, a new electrical panel, new updated bathrooms, new flooring, new inside paint, and new trim through out. The kitchen will get new bottom cabinets and countertops by early July. The HOA insurance is also scheduled to give a credit for new appliances and a potential new roof. This unit is located in section II with no age restrictions. Call today and don't let this great investment opportunity get away! Agents see confidential comments.

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Location


Property Details


Parking

  • Description: Open
  • Details: Attached, Garage
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

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

Interior Features

  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Wood
  • Roof Type: Gable
  • Roof Material: Shingle

HOA

  • Has HOA: Yes
  • Additional HOA Fee: $605/monthly

Land Information

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

Lot Information

  • Parcel ID: 1246240700000.0360
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Other, Duplex
  • Year Built: 1984

Tax Information

  • Annual Tax: $937

Utilities

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

Location

  • County: Lee

Listing Details


Listed by:
Fabiana Pence
Keller Williams Realty Fort Myers and the Islands
(239) 357-6739

Source:
Florida Gulf Coast Multiple Listing Service
MLS#: 223045694
Florida Gulf Coast Multiple Listing Service

Investment Summary


Monthly Cash Flow
-$451
Cap Rate
3.8%
Cash-on-Cash Return
-10.7%
Debt Coverage Ratio
0.61
Internal Rate of Return (5 years)
-6.4%

Purchase Details

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Purchase price:
$219,900
Amount financed:
-$175,920
Down payment:
$43,980
Closing costs:
$6,597
Rehab costs:
$0
Initial cash invested:
$50,577
Square feet:
1,222
Cost per square foot:
$180
Monthly rent per square foot:
$1.64

Financing Details

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Loan amount:
$175,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$1,148
Property tax:
$78
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,366

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (4%)
4%-$78-$937
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (30%)
30%-$605-$7,260
Total operating expenses: (59%)
59%-$1,183-$14,197

Cash Flow


Monthly Yearly
Net operating income:
$697 $8,364
Mortgage payments:
-$1,148 -$13,776
Cash flow:
$451 $5,412