TITLE:
Investment Homes in FL Panhandle
CONTROL:
Owner
VALUE:
$675,000
LOAN:
$300,000
EQUITY:
$375,000
TYPE:
Homes/Condos
HAVE:
2 turnkeyrenovated homes in FL panhandle leased @ $2200/mo proximate to: 1) beach, 2) great schools, 3) new $470mm hospital. Homes spotless ready 2go: new roofs, new WH, new AC, renovated. MTM leases, could go to cash in 60 days.
ADDRESS:
2998 Ranchette Sq, Gulf Breeze, Florida
BENEFITS TO NEW OWNER:
Squeaky clean rental homes in rapidly-growing Florida market. Can be made F&C. Could be 1031 target. Use these to further your deal.
GROSS SCHEDULED INCOME:
$52,800 Projected
VACANCY LOSS:
$2,112
GROSS EFFECTIVE INCOME:
$50,688
EXPENSES:
$15,000
NOI:
$35,688
DEBT SERVICE:
$27,350
CASH FLOW:
$8,338
CAP RATE:
5.29%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$180,000
$1,194
7%
02/28/2053
No
LOAN 2
$170,000
$1,084
7%
02/28/2053
No
BENEFITS SOUGHT:
Ladder up, long-term capital, seeking other opportunities.
CAN ADD:
Cash, MF units in TX, Luxury homes in CA, CA short-term rentals, cash, deal assistance.
REMARKS:
Rehab complete in July 2022. Will meet strict FL insurance co standards. Homes leased to stable tenants. Will sell/lease within 60 days. 2998 Ranchette Sq is in 10/10 school district. 5897 Somerset Dr is 5 mins from 470mm Hospital which opened in fall.
COUNSELOR:
Gregory Walden
Pacifica Realty Corp
2702 Crown Valley Pkwy
Ladera Ranch, California, 92694
