Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Copied
Photo
Photo
Photo
Photo
Photo
See all photos

$349,900

For Sale - Active
1900 Virginia Ave Apt 902, Fort Myers, FL 33901
3 Beds
2 Baths
1,715 Square Feet
0.00 Acres Lot
Built in 1986
For Sale - Active
Units n/a
Checked: 14 hours ago
Updated: May 22, 2025 at 04:06PM

Investment Summary


Monthly Cash Flow
-$2,109
Cap Rate
-0.9%
Cash-on-Cash Return
-31.4%
Debt Coverage Ratio
-0.14
Internal Rate of Return (5 years)
-26.3%

Property Description


0.00 Acres Lot
Built in 1986
For Sale - Active
Units n/a

Welcome to your 9th-floor slice of paradise with expansive, unobstructed views of the Caloosahatchee River in the highly sought-after Pointe Royale community of Downtown Fort Myers. This spacious 3-bedroom, 2-bathroom condo offers over 1,715 square feet of comfortable living space. Wake up to breathtaking sunrises and wind down with gorgeous sunsets from your huge, screened-in lanai—perfect for entertaining or relaxing. The large eat-in kitchen features sleek stainless steel appliances, modern cabinetry, and stylish countertops. The oversized primary bedroom boasts sliding doors to the lanai, filling the space with natural light and river breezes. Enjoy plenty of storage with abundant closet space, a full-size laundry room with a utility sink, and an additional storage unit just outside your door. For added peace of mind and comfort, the condo features a new roof and a new A/C system with a 10 year warranty. These are valuable upgrades that ensure efficiency and reliability for years to come. The unit includes one covered parking garage spot with extra open parking available for guests. Pointe Royale offers professional on-site management, 24/7 guard-gated security, and a host of resort-style amenities. Residents enjoy a river-side pool and clubhouse, fitness center, tennis and pickleball courts, and a vibrant community calendar. Take a short walk or trolley ride to the heart of Downtown Fort Myers for restaurants, events, and entertainment. Conveniently located near Publix, Lee Memorial Hospital, SWFL International Airport, and major roads. Discover the perfect blend of security, serenity, and accessibility in this exceptional riverfront condo!

Build Your Team


Quickly find investor-friendly professionals who can help you succeed in real estate investing at any stage of the investing journey.

Agents

Match with investor-friendly agents who can help you find, analyze, and close your next deal

Find an Agent

Lenders

Get the best funding…find investor-friendly lenders who specialize in your deal strategy

Find a Lender

Property Managers

Transition to passive investing. Find a trusted property management partnership that lasts.

Find a Property Manager

Tax Pros & Accountants

Taxes and financial reporting made easy—find experts to create tax savings strategies, file taxes, and more

Find a Tax Pro

Location


Property Details


Parking

  • Description: Assigned, Common, Covered, Detached, Garage, Paved, OneSpace
  • Details: Assigned, Common, Covered, Detached, Garage, Paved
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Stories: 15

Exterior Features

  • Roof Material: Shingle
  • 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: 234424P202900.0902
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Traditional, High Rise
  • Year Built: 1986

Tax Information

  • Annual Tax: $5,872

Utilities

  • Heating: Central, Electric
  • Cooling: Central Air, Electric

Location

  • County: Lee

Listing Details


Listed by:
Patrick Anson
Royal Shell Real Estate, Inc.
(315) 857-3498

Source:
Florida Gulf Coast Multiple Listing Service
MLS#: 225035393
Florida Gulf Coast Multiple Listing Service

Investment Summary


Monthly Cash Flow
-$2,109
Cap Rate
-0.9%
Cash-on-Cash Return
-31.4%
Debt Coverage Ratio
-0.14
Internal Rate of Return (5 years)
-26.3%

Purchase Details

Find an Agent

Purchase price:
$349,900
Amount financed:
-$279,920
Down payment:
$69,980
Closing costs:
$10,497
Rehab costs:
$0
Initial cash invested:
$80,477
Square feet:
1,715
Cost per square foot:
$204
Monthly rent per square foot:
$1.52

Financing Details

Find a Lender

Loan amount:
$279,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.890%
Principal & interest:
$1,842
Property tax:
$489
Insurance:
$182
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,513

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$2,600 $31,200
Vacancy loss: (6%)
6% -$156 -$1,872
Operating income:
$2,444 $29,328

Operating Expenses


% Rent Monthly Yearly
Property taxes: (19%)
19%-$489-$5,872
Insurance: (7%)
7%-$182-$2,184
Property management: (8%)
8%-$208-$2,496
Repairs & maintenance: (5%)
5%-$130-$1,560
Capital expenditures: (5%)
5%-$130-$1,560
HOA fees: (60%)
60%-$1,572-$18,864
Total operating expenses: (104%)
104%-$2,711-$32,536

Cash Flow


Monthly Yearly
Net operating income:
-$267 -$3,204
Mortgage payments:
-$1,842 -$22,104
Cash flow:
$2,109 $25,308