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$199,999

For Sale - Active
8342 Bernwood Cove Loop Apt 810, Fort Myers, FL 33966
2 Beds
2 Baths
932 Square Feet
0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a
Checked: 22 hours ago
Updated: Sep 02, 2025 at 10:14AM

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
-$42
Cap Rate
5.9%
Cash-on-Cash Return
-1.1%
Debt Coverage Ratio
0.96
Internal Rate of Return (5 years)
2.9%

Property Description


0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a

Looking for the ideal Primary residence, seasonal home, or investment opportunity? This is IT! This second (top) floor 2 bedroom/2 bathroom condo checks all of the boxes! Freshly cleaned and painted with newly cleaned and stretched carpet, this warm and welcoming home is ready to move in and call your own. Newly tiled roof and exterior paint (covered by HOA), and recently replaced water heater, washer/dryer in unit and HVAC system, all under 6 years old. Spacious rooms, vaulted ceilings, galley kitchen and private lanai offer partial lake views with southern exposure for great sunrises and sunsets. One dedicated parking space and ample guest parking are also included. The highly sought after, perfectly located community of The Cove at Six Mile Cypress offers low HOA fees, a community pool, playground, fitness room and a clubhouse. A shopping and dining paradise is located nearby at Colonial Square and The Forum, with all the essentials, including Walmart, Publix and BJ's Wholesale. Minutes from I-75, the Six Mile Cypress Slough Preserve, JetBlue Park, and RSW International Airport. Centrally located to beautiful SWFL beaches, Florida Gulf Coast University, Miromar Outlets and Coconut Point Mall. Do not miss this chance to call this home your own!

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Location


Property Details


Parking

  • Description: Assigned, OneSpace
  • Details: Assigned
  • 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: 1

Exterior Features

  • Roof Material: Tile
  • Pool Community: Yes

Land Information

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

Lot Information

  • Parcel ID: 334425P300608.0810
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: None, Low Rise
  • Year Built: 2006

Tax Information

  • Annual Tax: $2,296

Utilities

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

Location

  • County: Lee

Listing Details


Listed by:
Marybeth Alford
Diversified Real Estate Group
(239) 319-8464

Source:
Florida Gulf Coast Multiple Listing Service
MLS#: 225019982
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
-$42
Cap Rate
5.9%
Cash-on-Cash Return
-1.1%
Debt Coverage Ratio
0.96
Internal Rate of Return (5 years)
2.9%

Purchase Details

Find an Agent

Purchase price:
$199,999
Amount financed:
-$159,999
Down payment:
$40,000
Closing costs:
$6,000
Rehab costs:
$0
Initial cash invested:
$46,000
Square feet:
932
Cost per square foot:
$215
Monthly rent per square foot:
$1.82

Financing Details

Find a Lender

Loan amount:
$159,999
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,024
Property tax:
$191
Insurance:
$119
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,334

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$1,700 $20,400
Vacancy loss: (6%)
6% -$102 -$1,224
Operating income:
$1,598 $19,176

Operating Expenses


% Rent Monthly Yearly
Property taxes: (11%)
11%-$191-$2,296
Insurance: (7%)
7%-$119-$1,428
Property management: (8%)
8%-$136-$1,632
Repairs & maintenance: (5%)
5%-$85-$1,020
Capital expenditures: (5%)
5%-$85-$1,020
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (36%)
36%-$616-$7,396

Cash Flow


Monthly Yearly
Net operating income:
$982 $11,784
Mortgage payments:
-$1,024 -$12,288
Cash flow:
-$42 -$504