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$550,000

Under Contract
1900 Virginia Ave Apt 1301, Fort Myers, FL 33901
3 Beds
2 Baths
2,025 Square Feet
0.22 Acres Lot
Built in 1986
Under Contract
Units n/a
Checked: 16 hours ago
Updated: Jun 20, 2025 at 03:18AM

Investment Summary


Monthly Cash Flow
-$2,814
Cap Rate
0.1%
Cash-on-Cash Return
-26.7%
Debt Coverage Ratio
0.02
Internal Rate of Return (5 years)
-21.7%

Property Description


0.22 Acres Lot
Built in 1986
Under Contract
Units n/a

Welcome to paradise! This stunning high-rise condo has been newly updated with luxurious, high-end finishes throughout, designed for those who seek high-class living and refuse to settle for anything less. Additional updates include impact resistant sliders, electric shutters, smart systems, water filtration system, brand new AC and newer water heater and high-end kitchen appliances. Sold furnished! Bring your suitcases and start soaking in the breathtaking endless river view sunsets. It's never a dull day when every glance out your balcony reveals a living painting of shimmering water, boats gliding by and sunsets that light up the sky in colors you didn't know existed. Take a leisurely stroll downtown for dinner, cocktails, music, shopping and more amazing river views. This condo truly sets a new standard for elevated living.

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Location


Property Details


Parking

  • Description: Assigned, Detached, Underground, Garage, OneSpace
  • Details: Covered, Deeded, Paved, Detached
  • Garage Spaces: 1
  • Spaces Total: 1

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Rooms: 0
  • # of Stories: 16

Exterior Features

  • Roof Material: Built-Up
  • Pool: Yes
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • Additional HOA Fee: $4,717/quarterly

Land Information

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

Lot Information

  • Parcel ID: 234424P202900.1301
  • Lot Size: 9496 sqft

Property Information

  • Property Type: Condominium
  • Style: High Rise (8+)
  • Year Built: 1986

Tax Information

  • Annual Tax: $4,466

Utilities

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

Location

  • County: Lee

Listing Details


Listed by:
Amy Admire
Coldwell Banker Realty
(239) 600-4423

Source:
Naples Area Board of REALTORS
MLS#: 225034585
Naples Area Board of REALTORS

Investment Summary


Monthly Cash Flow
-$2,814
Cap Rate
0.1%
Cash-on-Cash Return
-26.7%
Debt Coverage Ratio
0.02
Internal Rate of Return (5 years)
-21.7%

Purchase Details

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Purchase price:
$550,000
Amount financed:
-$440,000
Down payment:
$110,000
Closing costs:
$16,500
Rehab costs:
$0
Initial cash invested:
$126,500
Square feet:
2,025
Cost per square foot:
$272
Monthly rent per square foot:
$1.43

Financing Details

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Loan amount:
$440,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$2,871
Property tax:
$372
Insurance:
$203
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,446

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,900 $34,800
Vacancy loss: (6%)
6% -$174 -$2,088
Operating income:
$2,726 $32,712

Operating Expenses


% Rent Monthly Yearly
Property taxes: (13%)
13%-$372-$4,466
Insurance: (7%)
7%-$203-$2,436
Property management: (8%)
8%-$232-$2,784
Repairs & maintenance: (5%)
5%-$145-$1,740
Capital expenditures: (5%)
5%-$145-$1,740
HOA fees: (54%)
54%-$1,572-$18,864
Total operating expenses: (92%)
92%-$2,669-$32,030

Cash Flow


Monthly Yearly
Net operating income:
$57 $684
Mortgage payments:
-$2,871 -$34,452
Cash flow:
$2,814 $33,768