Great opportunity to own rental property in a high demand area. Fully occupied. Current comps show rents are up to 950/m in this community HUD FAIR MARKET RENT IS $1,120.00 PER MONTH Plenty value add, . With property management in place this is a potential 29.94% IRR and 11.0.5 CASH On Cash investment on a 10 year hold SEE PROFORMA. This property has been well maintained. All annual lease. See attached Proforma. Hud Fair Market Rents for 2021 for zip code 32073 is $1120 for 2 bed room. Plenty of upside! Public records shows property as having only one bath but there is a half bath in each unit connected to the master bedroom. Tenant Pays Water and Electric all units are metered individually. 1 AC UNIT RENENTLY REPLACED . NEW FLOORING RECENTLY INSTALLED IN 3 OF THE UNITS RETURNS SUMMARY: Long-term Hold Net Cash Flow IRR Equity Multiple Average Cash on Cash Unlevered $657,184 14.90% 2.85 x 11.05% Levered $540,734 92.95% 6.35 x 29.94%
Listing courtesy of FLORIDA HOMES REALTY & MTG LLC.