$1,500,000
Active · 111 days on market · MLS# MFRO6293394
| Bedrooms | 16 |
|---|---|
| Living area | 5,160 sq ft |
| Lot size | 0.48 acres |
| Year built | 1953 |
| Property type | Multi Family |
| Private pool | Yes |
| Waterfront | Yes |
| Annual taxes | $12,530 |
| County | Hillsborough |
Financial Summary • Purchase Price: $1,500,000 • Net Operating Income (NOI): $132,671.65 • Annual Debt Service: $45,508.90 • Cash Flow (Before-Tax): $87,162.75 Investment Metrics Cap Rate 8.85 This is still strong, especially for multifamily in many markets. Typically, anything above 7–8 is attractive. Cash-on-Cash Return - Assuming 20 down payment = $300,000:Cash-on-Cash Return=29.05 This is excellent — high CoC returns like this are uncommon in many real estate markets. Debt Coverage Ratio (DCR)=2.92 Conclusion At a $1.5M price point, this is a robust investment: • 8.85 Cap Rate — solid and above average • 29 Cash-on-Cash Return — very high • Excellent DCR — well above lending safety thresholds. This deal remains highly favorable, with its excellent location, condition, and long-term growth potential.
Listing courtesy of Isabel Campos-Gordon, SAND DOLLAR REALTY GROUP INC. Presented by MC Homes Realty Inc · 727432218.