2nd Floor Cape Canaveral Condo Flip

2nd Floor Cape Canaveral Condo Flip

2 bed 2 bath 1110 sq ft Built in 1989 Condominium
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74
Quality of Comparables
Low High
14 /20
Level of Rehab
Heavy Light
14/20
Location of Neighborhood
Far Close
16/20
Quality of Floor Plan
Choppy Flowing
16/20
School Rating
F A
7/10
Placement in Neighborhood
Busy Calm
7/10
Property Details

Located just blocks from the beach is this 2nd floor unit.  When standing on the balcony, you can see the tops of the cruise ships as they come and go from the Port of Canaveral.  You can also see the rockets that get launched from the Cape as well while sitting on the back porch.

The unit will need some interior updates to have it's true potential shine though.  We are recommending updating the kitchen, floors, bathrooms, along with miscellaneous updates.  Once updated, this should attract a number of buyers based on it's location and quality of the complex.

The HOA is $300 a month which covers everything on the exterior.  The roof and outside electric panels have all been updated within the last 2 years.  The building has also been painted with the last couple of years as well giving the building a fresh new look.  Each unit comes with 2 assigned parking spots as well.  Another point is that two units in the complex recently appraised at $329,000 and are now rented to long term tenants.

Properties with this much equity at this price are hard to find so call your EquityPro Advisor today to secure this opportunity.

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We recommend flip
Rental Income
$2,000 mo. / $24,000 yr.
Estimated Taxes
$1,667 / yr.
Maintenance
$500 / yr.
HOA Dues
$3,600 / yr.
$15,033
Projected Income
6.41%
Estimated APY
$63,850
Projected Income
24.93%
Estimated ROI

Comps

 
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