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$399,000

For Sale - Active
2911 SE 22nd Ave, Cape Coral, FL 33904
3 Beds
2 Baths
2,402 Square Feet
0.00 Acres Lot
Built in 1988
For Sale - Active
Units n/a
Checked: 9 hours ago
Updated: Jul 16, 2025 at 08:07AM

Investment Summary


Monthly Cash Flow
-$346
Cap Rate
5.1%
Cash-on-Cash Return
-4.5%
Debt Coverage Ratio
0.83
Internal Rate of Return (5 years)
-0.4%

Property Description


0.00 Acres Lot
Built in 1988
For Sale - Active
Units n/a

Surrounded on 3 sides by waterfront homes (Caloosahatchie River to the East , Lido canal to the North and Tennyson Canal to the west). Best neighborhood in SE Cape. Only the 2nd Owner of this well maintained home.Totally updated with new tile flooring and granite counters and new kitchen and baths with room for family, friends and wonderfully appointed for entertaining. Huge master suite with jetted tub, dual sinks, walk in shower, walk in closet and enclosed atrium. Formal living and dining room, huge gourmet kitchen with grand island and breakfast nook, bar and family room, 2 guest bedrooms with walk-in closets and access to the guest/pool bath. The Florida room is large with lots of natural light and currently used as an informal dining and gathering room. Screened lanai with bar and heated saltwater pool with lots of patio room for fun in the sun. Huge inside laundry room with storage and sink. Roof was replaced 10/2021, plumbing repiped, dual A/C units were both replaced Jan. 2023 with extra attic insulation.New skylight tubes installed/Jan.'23. New Pool Pump (5/2024). New Pool salt water system and timer(8/2024 .Walking/bike paths on Cornwallis to river, easy access to Ft. Myers, Beaches, shopping and dining. Voluntary Neighborhood Association $20 per year. HOME HAS NEVER FLOODED, NO DAMAGE FROM HURRICANE IAN OR MILTON OR ANY OTHER STORMS. THE WORKMANSHIP IN THIS HOME LIKE MANY OF THE OLDER HOMES/BUILT TO STAND THE TESTS OF TIME !!!!

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Location


Property Details


Parking

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

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: 324424C301170.0080
  • Lot Size: 0 sqft

Property Information

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

Tax Information

  • Annual Tax: $5,287

Utilities

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

Location

  • County: Lee

Listing Details


Listed by:
Ann Vaughn
Century 21 Selling Paradise
(239) 671-9271

Source:
Florida Gulf Coast Multiple Listing Service
MLS#: 223052133
Florida Gulf Coast Multiple Listing Service

Investment Summary


Monthly Cash Flow
-$346
Cap Rate
5.1%
Cash-on-Cash Return
-4.5%
Debt Coverage Ratio
0.83
Internal Rate of Return (5 years)
-0.4%

Purchase Details

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Purchase price:
$399,000
Amount financed:
-$319,200
Down payment:
$79,800
Closing costs:
$11,970
Rehab costs:
$0
Initial cash invested:
$91,770
Square feet:
2,402
Cost per square foot:
$166
Monthly rent per square foot:
$1.29

Financing Details

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Loan amount:
$319,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$2,044
Property tax:
$441
Insurance:
$217
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,702

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,100 $37,200
Vacancy loss: (6%)
6% -$186 -$2,232
Operating income:
$2,914 $34,968

Operating Expenses


% Rent Monthly Yearly
Property taxes: (14%)
14%-$441-$5,287
Insurance: (7%)
7%-$217-$2,604
Property management: (8%)
8%-$248-$2,976
Repairs & maintenance: (5%)
5%-$155-$1,860
Capital expenditures: (5%)
5%-$155-$1,860
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (39%)
39%-$1,216-$14,587

Cash Flow


Monthly Yearly
Net operating income:
$1,698 $20,376
Mortgage payments:
-$2,044 -$24,528
Cash flow:
$346 $4,152