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$670,000

For Sale - Active
2022 Four Mile Cove Pkwy, Cape Coral, FL 33990
3 Beds
2 Baths
2,047 Square Feet
0.00 Acres Lot
Built in 1987
For Sale - Active
Units n/a
Checked: 13 hours ago
Updated: Jul 25, 2025 at 06:33AM

Investment Summary


Monthly Cash Flow
-$1,407
Cap Rate
3.6%
Cash-on-Cash Return
-11.0%
Debt Coverage Ratio
0.59
Internal Rate of Return (5 years)
-6.6%

Property Description


0.00 Acres Lot
Built in 1987
For Sale - Active
Units n/a

MILLION DOLLAR VIEWS ON LARGE QUICK GULF ACCESS LAKE. This stunning Southern exposure Cape Coral pool home offers exactly that, a prime waterfront location in a peaceful and quiet neighborhood, where pride of ownership is evident at every turn. With over 2,000 sqft of living space, this meticulously maintained property features 3 bedrooms, 2 bathrooms, and a 2-car garage, making it ideal for families or anyone dreaming of waterfront living. Recent upgrades including new AC (2020), and a new roof (2022) ensure peace of mind, while hurricane shutters throughout offer added protection. The heart of the home boasts a beautifully appointed kitchen with granite countertops, pull out drawers in all the kitchen cabinets, a wine bar, and a butler's pantry complete with a refrigerator. The split bedroom design offers privacy, with the main bedroom featuring sliders that lead directly to the lanai and pool area. French doors, tile throughout, a wood-burning fireplace, and walk-in closets in every room add to the home's charm. Step outside to a pool area designed for relaxation and entertainment, complete with an outdoor shower, extended lanai, and lush landscaping. The large water is making this property perfect for fishing, boating and enjoying the view from your pool deck. Located in a coveted Cape Coral corridor, this home offers easy access to kayaking and nature trails at Four Mile Cove Ecological Park, the open waters of the Caloosahatchee River, and a variety of shopping and dining options. With a private boat dock ready for your vessel, this property presents the perfect opportunity to embrace the waterfront lifestyle and create your own personal oasis.

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Location


Property Details


Parking

  • Description: Garage
  • Details: Attached, Garage
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # 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: 294424C205399.0250
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch, One Story
  • Year Built: 1987

Tax Information

  • Annual Tax: $4,685

Utilities

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

Location

  • County: Lee

Listing Details


Listed by:
Janice Pearson
Century 21 Sunbelt Realty
(239) 888-2589

Source:
Florida Gulf Coast Multiple Listing Service
MLS#: 225055851
Florida Gulf Coast Multiple Listing Service

Investment Summary


Monthly Cash Flow
-$1,407
Cap Rate
3.6%
Cash-on-Cash Return
-11.0%
Debt Coverage Ratio
0.59
Internal Rate of Return (5 years)
-6.6%

Purchase Details

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Purchase price:
$670,000
Amount financed:
-$536,000
Down payment:
$134,000
Closing costs:
$20,100
Rehab costs:
$0
Initial cash invested:
$154,100
Square feet:
2,047
Cost per square foot:
$327
Monthly rent per square foot:
$1.71

Financing Details

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Loan amount:
$536,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$3,432
Property tax:
$390
Insurance:
$245
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,067

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,500 $42,000
Vacancy loss: (6%)
6% -$210 -$2,520
Operating income:
$3,290 $39,480

Operating Expenses


% Rent Monthly Yearly
Property taxes: (11%)
11%-$390-$4,685
Insurance: (7%)
7%-$245-$2,940
Property management: (8%)
8%-$280-$3,360
Repairs & maintenance: (5%)
5%-$175-$2,100
Capital expenditures: (5%)
5%-$175-$2,100
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (36%)
36%-$1,265-$15,185

Cash Flow


Monthly Yearly
Net operating income:
$2,025 $24,300
Mortgage payments:
-$3,432 -$41,184
Cash flow:
$1,407 $16,884