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$424,900

For Sale - Active
2622 SW 35th Ln, Cape Coral, FL 33914
3 Beds
2 Baths
1,616 Square Feet
0.00 Acres Lot
Built in 2007
For Sale - Active
Units n/a
Checked: 13 hours ago
Updated: May 24, 2025 at 03:04AM

Investment Summary


Monthly Cash Flow
-$939
Cap Rate
3.6%
Cash-on-Cash Return
-11.5%
Debt Coverage Ratio
0.58
Internal Rate of Return (5 years)
-7.2%

Property Description


0.00 Acres Lot
Built in 2007
For Sale - Active
Units n/a

This spacious residence offers three bedrooms, a den, a loft, and a two-car garage. The elegant upstairs master suite features a grand double-door entry, a covered balcony, a large walk-in closet, and a luxurious bathroom with a separate shower and garden tub. The kitchen boasts 42" cabinets, a pantry, and granite countertops, with a breakfast bar and bay window perfect for casual meals or entertaining. Outside, enjoy your private oasis with a screened-in lanai, sparkling pool, spa, and lush greenery, all fenced for added privacy. Conveniently located near shopping, excellent schools, and a quick commute to Fort Myers, this home offers easy access to the best of Southwest Florida.

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Location


Property Details


Parking

  • Description: Driveway
  • Details: Attached, Driveway, 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: 2

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: 054523C204932.0130
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Detached, TwoStory
  • Year Built: 2007

Tax Information

  • Annual Tax: $5,352

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air, Ceiling Fan(s)

Location

  • County: Lee

Listing Details


Listed by:
Erin Harrel
Keller Williams Realty Fort My
(239) 470-1395

Source:
MIAMI REALTORS MLS
MLS#: A11774498
MIAMI REALTORS MLS

Investment Summary


Monthly Cash Flow
-$939
Cap Rate
3.6%
Cash-on-Cash Return
-11.5%
Debt Coverage Ratio
0.58
Internal Rate of Return (5 years)
-7.2%

Purchase Details

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Purchase price:
$424,900
Amount financed:
-$339,920
Down payment:
$84,980
Closing costs:
$12,747
Rehab costs:
$0
Initial cash invested:
$97,727
Square feet:
1,616
Cost per square foot:
$263
Monthly rent per square foot:
$1.55

Financing Details

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Loan amount:
$339,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$2,218
Property tax:
$446
Insurance:
$175
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,839

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: (18%)
18%-$446-$5,352
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: (43%)
43%-$1,071-$12,852

Cash Flow


Monthly Yearly
Net operating income:
$1,279 $15,348
Mortgage payments:
-$2,218 -$26,616
Cash flow:
$939 $11,268