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$215,000

For Sale - Active
2711 1st St Apt 304, Fort Myers, FL 33916
2 Beds
2 Baths
1,285 Square Feet
0.00 Acres Lot
Built in 1981
For Sale - Active
Units n/a
Checked: 8 hours ago
Updated: Jun 21, 2025 at 03:05AM

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$35
Cap Rate
6.5%
Cash-on-Cash Return
0.8%
Debt Coverage Ratio
1.03
Internal Rate of Return (5 years)
4.8%

Property Description


0.00 Acres Lot
Built in 1981
For Sale - Active
Units n/a

**CLOSE TO DOWNTOWN PLUS STUNNING RIVERFRONT VIEWS?? PLUS YOUR OWN DOCK WITH THE OPTION TO ADD A BOAT LIFT!THIS IS YOUR IDEAL WINTER RETREAT** Welcome to your dream riverfront retreat in the heart of Downtown Fort Myers! This stunning corner unit offers million-dollar views and a gated community providing secure access to both the parking lot and lobby. As you step inside this move-in ready, fully furnished 2-bedroom, 2-bathroom condo, you’ll be captivated by the open floor plan and breathtaking waterfront scenery. Recently painted and upgraded with new fixtures, HVAC, washer and dryer, impact windows, and hurricane protection on the lanai, this home is truly turnkey. Agents please read confidential comments. One of the most rare and valuable features of this condo is your own brand-new deeded dock, with the option to install a lift—an opportunity that is hard to come by! Additional updates include a new hot water heater (2021), giving you peace of mind. Fiber optic internet is on the way, and the community has recently updated its elevator and fire alarm system. For added convenience, this condo includes a large storage unit, a covered carport, and an additional parking space. Residents can enjoy the indoor saltwater pool, perfect for year-round relaxation. The location is unbeatable—you can walk to downtown Fort Myers to experience its vibrant dining, shopping, and entertainment, or hop on the trolley for easy access. Every detail has been taken care of, making this the perfect hassle-free waterfront home. Don’t miss out on this rare opportunity to enjoy luxury living with the best of riverfront and downtown convenience. Schedule your private showing today!

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Location


Property Details


Parking

  • Description: Assigned, Covered, Paved, TwoSpaces, DetachedCarport
  • Details: Assigned, Covered, Paved, Detached Carport
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

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

Interior Features

  • # of Stories: 5

Exterior Features

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

Land Information

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

Lot Information

  • Parcel ID: 134424P200300.3040
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Mid Rise
  • Year Built: 1981

Tax Information

  • Annual Tax: $4,288

Utilities

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

Location

  • County: Lee

Listing Details


Listed by:
Alexis Hansen
Keller Williams Realty Fort Myers and the Islands
(863) 673-6027

Source:
Florida Gulf Coast Multiple Listing Service
MLS#: 225012415
Florida Gulf Coast Multiple Listing Service

Investment Summary


Potential Missing Expenses

We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$35
Cap Rate
6.5%
Cash-on-Cash Return
0.8%
Debt Coverage Ratio
1.03
Internal Rate of Return (5 years)
4.8%

Purchase Details

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Purchase price:
$215,000
Amount financed:
-$172,000
Down payment:
$43,000
Closing costs:
$6,450
Rehab costs:
$0
Initial cash invested:
$49,450
Square feet:
1,285
Cost per square foot:
$167
Monthly rent per square foot:
$1.71

Financing Details

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Loan amount:
$172,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$1,126
Property tax:
$357
Insurance:
$154
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,637

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,200 $26,400
Vacancy loss: (6%)
6% -$132 -$1,584
Operating income:
$2,068 $24,816

Operating Expenses


% Rent Monthly Yearly
Property taxes: (16%)
16%-$357-$4,289
Insurance: (7%)
7%-$154-$1,848
Property management: (8%)
8%-$176-$2,112
Repairs & maintenance: (5%)
5%-$110-$1,320
Capital expenditures: (5%)
5%-$110-$1,320
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (41%)
41%-$907-$10,889

Cash Flow


Monthly Yearly
Net operating income:
$1,161 $13,932
Mortgage payments:
-$1,126 -$13,512
Cash flow:
$35 $420