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$425,000

Under Contract
2007 Viscaya Pkwy, Cape Coral, FL 33990
3 Beds
2 Baths
2,258 Square Feet
0.23 Acres Lot
Built in 1988
Under Contract
Units n/a
Checked: 9 hours ago
Updated: May 29, 2025 at 03:04AM

Investment Summary


Monthly Cash Flow
-$790
Cap Rate
3.9%
Cash-on-Cash Return
-9.7%
Debt Coverage Ratio
0.64
Internal Rate of Return (5 years)
-5.4%

Property Description


0.23 Acres Lot
Built in 1988
Under Contract
Units n/a

This home was originally built as a model home and is located in flood zone X, which means no flood insurance for you. Utilizing poured concrete exterior walls and hurricane shutters, this home is a Florida fortress. All assessments are in and paid! The current owner added value with a $145,000+ remodel, bringing it into the modern era. Recent updates include interior lighting, paint, fireplace design, new roof (2024), bathrooms, floors, gutters, kitchen, irrigations, pool resurfacing (check out the glowing stones by the bench!), and a huge WALK-IN Pantry. Cape Coral Hospital is just a three-minute drive. It is also located just a few minutes from grocery stores, shopping centers, movie theaters, and downtown Fort Myers, and a short drive to beaches. Take advantage of a $5,000 contribution towards your closing costs, rate buy-downs, or any other expenses allowed by your lender.

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Location


Property Details


Parking

  • Description: Attached, Driveway, Garage, Paved, TwoSpaces, GarageDoorOpener
  • Details: Garage Door Opener, Paved, Attached
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Rooms: 0
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Type: IRR/Cathedral
  • Roof Material: Shingle
  • Pool: Yes

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 204424C101290.0230
  • Lot Size: 10019 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch, Single Family
  • Year Built: 1988

Tax Information

  • Annual Tax: $4,050

Utilities

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

Location

  • County: Lee

Listing Details


Listed by:
Timothy Wilson
Keller Williams Realty Fort Myers and the Islands
(719) 352-9140

Source:
Naples Area Board of REALTORS
MLS#: 225039096
Naples Area Board of REALTORS

Investment Summary


Monthly Cash Flow
-$790
Cap Rate
3.9%
Cash-on-Cash Return
-9.7%
Debt Coverage Ratio
0.64
Internal Rate of Return (5 years)
-5.4%

Purchase Details

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Purchase price:
$425,000
Amount financed:
-$340,000
Down payment:
$85,000
Closing costs:
$12,750
Rehab costs:
$0
Initial cash invested:
$97,750
Square feet:
2,258
Cost per square foot:
$188
Monthly rent per square foot:
$1.11

Financing Details

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Loan amount:
$340,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$2,177
Property tax:
$338
Insurance:
$175
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,690

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,500 $30,000
Vacancy loss: (6%)
6% -$150 -$1,800
Operating income:
$2,350 $28,200

Operating Expenses


% Rent Monthly Yearly
Property taxes: (14%)
14%-$338-$4,051
Insurance: (7%)
7%-$175-$2,100
Property management: (8%)
8%-$200-$2,400
Repairs & maintenance: (5%)
5%-$125-$1,500
Capital expenditures: (5%)
5%-$125-$1,500
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (39%)
39%-$963-$11,551

Cash Flow


Monthly Yearly
Net operating income:
$1,387 $16,644
Mortgage payments:
-$2,177 -$26,124
Cash flow:
$790 $9,480