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$183,750

For Sale - Active
586 N 8th St, Eagle Lake, FL 33839
3 Beds
1 Bath
1,200 Square Feet
0.15 Acres Lot
Built in 1937
For Sale - Active
1 Units
Checked: 22 hours ago
Updated: May 30, 2025 at 02:05PM

Investment Summary


Monthly Cash Flow
-$78
Cap Rate
5.6%
Cash-on-Cash Return
-2.2%
Debt Coverage Ratio
0.92
Internal Rate of Return (5 years)
1.8%

Property Description


0.15 Acres Lot
Built in 1937
For Sale - Active
1 Units

Great 3 bedroom 1 bath bungalow in a terrific location just one block from US 17 in Eagle Lake. This home features an adorable Tongue & groove entry way as you come through from the front porch area. Living room, dining room, spacious kitchen with breakfast bar, hall bath with a newly tiled walk in shower. Inside laundry off kitchen. Rear entry alley way to back the home for access to the 2+car carport or good use for covered storage area. Newer hot water heater, newer ac A wonderful opportunity to scale down or use as an income producer! Currently leased : Tenant pays $1400 / deposit $1400 Lease end date month to month .

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Location


Property Details


Parking

  • Description: Alley Access, Covered, Open
  • Details: Alley Access, Covered, Open
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 1
  • Basement Description: Crawl Space

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Foundation: Slab
  • Roof Type: Gable
  • Roof Material: Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 262907678500005150
  • Lot Size: 6708 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Bungalow
  • Year Built: 1937

Tax Information

  • Annual Tax: $2,888

Utilities

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

Location

  • County: Polk

Listing Details


Listed by:
Tasha Blomenkamp
COLDWELL BANKER RESIDENTIAL RE
(407) 403-3316

Source:
Stellar MLS
MLS#: O6285798
Stellar MLS

Investment Summary


Monthly Cash Flow
-$78
Cap Rate
5.6%
Cash-on-Cash Return
-2.2%
Debt Coverage Ratio
0.92
Internal Rate of Return (5 years)
1.8%

Purchase Details

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Purchase price:
$183,750
Amount financed:
-$147,000
Down payment:
$36,750
Closing costs:
$5,513
Rehab costs:
$0
Initial cash invested:
$42,263
Square feet:
1,200
Cost per square foot:
$153
Monthly rent per square foot:
$1.33

Financing Details

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Loan amount:
$147,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$941
Property tax:
$241
Insurance:
$112
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,294

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,600 $19,200
Vacancy loss: (6%)
6% -$96 -$1,152
Operating income:
$1,504 $18,048

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$241-$2,888
Insurance: (7%)
7%-$112-$1,344
Property management: (8%)
8%-$128-$1,536
Repairs & maintenance: (5%)
5%-$80-$960
Capital expenditures: (5%)
5%-$80-$960
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (40%)
40%-$641-$7,688

Cash Flow


Monthly Yearly
Net operating income:
$863 $10,356
Mortgage payments:
-$941 -$11,292
Cash flow:
$78 $936