Rental income for a new single family house in Cape Coral

[Andreas Witt]

My wife and me are considering to build a new single family house in Cape Coral. For the first 10 years we would see it as an investment and want to rent it based on long-term contracts. After that we might switch to vacation rentals to have the option to use the house on ourselves. 

To figure out if our financial plan is well set up we have to find out which rental incomes (long-term) are realistic. We investigated already several websites like Zillow but we like to have a more detailed estimate. That's why I am posting here. We will also get an estimate from a realtor we are in touch with but other opinions could possibly improve it.

It would be very helpful for us to get an estimate for the following parameters:

location: either a dry lot south of Cape Coral Pkwy West or a waterfront lot (salt or fresh) further north but south of Veterans Pkwy, budget  for the lot about $ 50k 

house with 1750 sqft, 3 bed, 2 bath, double or triple garage

upscale outfit, but not luxurious 

pool with extended lanai

paved driveway/walkway

well designed bathrooms with tile floors

upscale flooring

granite countertops, wood cabinets

pool and lawn service included

stainless steel appliances in the kitchen

dryer, washer included

maybe tray ceilings

automated garage doors

impact windows

Thanks for your replys!

[Andreas Witt]

Hello Stetson,

thank you for your detailed answer. I appreciate that very much. With theses numbers a better calculation will be possible.

So I fear we have to think about investing more than we actually wanted. Our plan was to have a rental income that does not only cover all running costs of the house but also the monthly installment for the loan. It is not very far away from that but will not be completely possible.