Rental #10 Pics --Cape Coral Florida 3/2/2 That Was On CL As "30K Under Market"

[John Thedford]

I posted maybe a week ago about a house posted on CL. It was advertised as 30K under market. Usually, those types of ads aren't quite truthfull:) I did talk to a couple of BP members about buying it but they didn't have quick funds and this one had to be done FAST. So, rather than let a great deal go elsewhere, I put it under contract, had inspections, and decided to move forward. The numbers are decent but not great. However, I got about 25K in free equity simply buying the property. It cost me just under 121K and will rent quickly in the $1200 range. Taxes are steep at $2400 (typical for Cape Coral). Maintenance, capex should not be bad. It is a 2004 build. It is on city water and sewer in the SW Cape Coral area and the 21K+ in water and sewer assessments have already been paid. That was one reason I felt it was pretty enticing. I closed today and already have one applicant to rent. Here are a few pics.