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6250 Holmes Blvd Unit 71, Holmes Beach, FL 34217, US
Copied

$955,400
BiggerPockets estimate

Off Market
6250 Holmes Blvd Unit 71, Holmes Beach, FL 34217
3 Beds
2.5 Baths
1,536 Square Feet
Lot n/a
Built in 1991
Off Market
1 Units
Checked: 8 months ago
Updated: May 31, 2025 at 10:16AM

Investment Summary


Monthly Cash Flow
-$3,490
Cap Rate
1.8%
Cash-on-Cash Return
-19.1%
Debt Coverage Ratio
0.29
Internal Rate of Return (5 years)
-14.4%

Property Description


Lot n/a
Built in 1991
Off Market
1 Units

This property is not currently listed for sale or rent on BiggerPockets. The details below may have been provided by the owner, a third party, or public records.

Located at 6250 Holmes Blvd Unit 71, Holmes Beach, FL (ZIP code 34217) this condominium features 3 bedrooms, 2.5 bathrooms and approximately 1,536 square feet of living space. The property was built in 1991.

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Location


Property Details


Parking

  • Description: Driveway, Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 2.5

Interior Features

  • # of Rooms: 4
  • # of Stories: 2

Exterior Features

  • Exterior Walls Materials: Wood
  • Roof Type: Gable or Hip
  • Roof Material: Composition Shingle

HOA

  • Has HOA: Yes
  • Association: C&S / Ellen Brown Martinez
  • HOA Fee: $1,170/monthly

Land Information

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

Lot Information

  • Parcel ID: 71812.11900

Property Information

  • Property Type: Condominium
  • Year Built: 1991

Tax Information

  • Annual Tax: $9,685

Utilities

  • Heating: Central
  • Cooling: Central Air

Location

  • County: Manatee

Investment Summary


Monthly Cash Flow
-$3,490
Cap Rate
1.8%
Cash-on-Cash Return
-19.1%
Debt Coverage Ratio
0.29
Internal Rate of Return (5 years)
-14.4%

Purchase Details

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Purchase price:
$955,400
Amount financed:
-$764,320
Down payment:
$191,080
Closing costs:
$28,662
Rehab costs:
$0
Initial cash invested:
$219,742
Square feet:
1,536
Cost per square foot:
$622
Monthly rent per square foot:
$3.19

Financing Details

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Loan amount:
$764,320
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$4,894
Property tax:
$807
Insurance:
$343
Private mortgage insurance (PMI):
$0
Monthly payment:
$6,044

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,900 $58,800
Vacancy loss: (6%)
6% -$294 -$3,528
Operating income:
$4,606 $55,272

Operating Expenses


% Rent Monthly Yearly
Property taxes: (16%)
16%-$807-$9,686
Insurance: (7%)
7%-$343-$4,116
Property management: (8%)
8%-$392-$4,704
Repairs & maintenance: (5%)
5%-$245-$2,940
Capital expenditures: (5%)
5%-$245-$2,940
HOA fees: (24%)
24%-$1,170-$14,040
Total operating expenses: (65%)
65%-$3,202-$38,426

Cash Flow


Monthly Yearly
Net operating income:
$1,404 $16,848
Mortgage payments:
-$4,894 -$58,728
Cash flow:
-$3,490 -$41,880