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$242,400

For Sale - Active
411 Lucaya Loop Unit 4205, Davenport, FL 33897
3 Beds
2 Baths
1,227 Square Feet
0.01 Acres Lot
Built in 2003
For Sale - Active
Units n/a
Checked: 16 hours ago
Updated: Jul 18, 2025 at 06:36AM

Investment Summary


Monthly Cash Flow
-$601
Cap Rate
3.2%
Cash-on-Cash Return
-12.9%
Debt Coverage Ratio
0.52
Internal Rate of Return (5 years)
-8.5%

Property Description


0.01 Acres Lot
Built in 2003
For Sale - Active
Units n/a

Welcome to 411 Lucaya Loop, a resort-style living 3-bedroom, 2-bathroom condo, recently updated and located on a second floor, within the desirable Bahama Bay Resort, in Davenport. Perfect as a vacation home, or investment property, or short term rental, this condo sleeps 6 and offers comfort, style, and convenience. Being recently updated within the last 3 years and with a gross rent of $39,000 per year, an occupancy rate of 63% and a nightly rate of $169 this is an investor’s dream. Step inside and be welcomed by a bright corridor that leads you into the heart of the home. On the right, you'll find two well-appointed bedrooms, each featuring spacious closets, and a full bathroom conveniently located in the hallway, along with a linen closet and laundry closet for added practicality. The centrally located kitchen displays a stunning backsplash and is fully equipped. The dining and living areas share an open floor plan designed for easy entertaining. From the living room, step out onto a private balcony where you can relax and enjoy the peaceful surroundings. The master bedroom offers its own ensuite bathroom, an extended closet for ample storage, and a private balcony. Situated in the sought-after Bahama Bay Resort, this community offers different amenities, including community pools, hot tubs, splash pad, a sandy beach, a clubhouse, and recreational activities including a fishing dock on Lake Davenport Lake, walking trails, on-site restaurant and spa, tennis court, pickle ball and volleyball court; all while being conveniently located near theme parks, shopping, and dining. Call today for a private showing and schedule a viewing today!

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Location


Property Details


Parking

  • Description: Open
  • Details: On Street, Open
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Rooms: 8
  • # of Stories: 3

Exterior Features

  • Exterior Walls Materials: Wood
  • Foundation: Slab
  • Roof Type: Hip
  • Roof Material: Shingle
  • Pool Community: Yes

HOA

  • Has HOA: Yes
  • Association: Bahama Bay / Lynne Bishop
  • HOA Fee: $561/monthly

Land Information

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

Lot Information

  • Parcel ID: 262512999967042050
  • Lot Size: 504 sqft

Property Information

  • Property Type: Condominium
  • Style: Florida
  • Year Built: 2003

Tax Information

  • Annual Tax: $2,124

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air

Location

  • County: Polk

Listing Details


Listed by:
Kelly French
KELLY FRENCH REAL ESTATE INC
(352) 988-4975

Source:
Stellar MLS
MLS#: O6262250
Stellar MLS

Investment Summary


Monthly Cash Flow
-$601
Cap Rate
3.2%
Cash-on-Cash Return
-12.9%
Debt Coverage Ratio
0.52
Internal Rate of Return (5 years)
-8.5%

Purchase Details

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Purchase price:
$242,400
Amount financed:
-$193,920
Down payment:
$48,480
Closing costs:
$7,272
Rehab costs:
$0
Initial cash invested:
$55,752
Square feet:
1,227
Cost per square foot:
$198
Monthly rent per square foot:
$1.63

Financing Details

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Loan amount:
$193,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,242
Property tax:
$177
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,559

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (9%)
9%-$177-$2,124
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (28%)
28%-$562-$6,744
Total operating expenses: (62%)
62%-$1,239-$14,868

Cash Flow


Monthly Yearly
Net operating income:
$641 $7,692
Mortgage payments:
-$1,242 -$14,904
Cash flow:
$601 $7,212