1055 GULF OF MEXICO DR #305 (MLS: A4660339) For Sale

1055 GULF OF MEXICO DR #305, (Manatee), Longboat Key Florida 34228

Currently Rented at $17,000.00 / month

Area: 1600

Property Info

  • MLS A4660339
  • Unit No 305
  • Bedrooms 2
  • Bathrooms 2
  • Area (sqft) 1600
  • Living Area (sqft) 1503
  • Foundation Block, Concrete Perimeter
  • Min Lease Block, Concrete Perimeter
  • HOA Fees $6,533.33

Interior Features

  • Eat-in Kitchen
  • Kitchen/Family Room Combo

Buy Price

$
$1,595,000.00

Rental Price

$
$17,000.00
  • Cap Rate
  • 6.8%
  • Gross Yield
  • 12.8%
  • Lease End Date
  • March 31, 2026

  • Rent Amount
  • $17,000.00

Cash Flow

Cap Rate6.8 Gross Yield12.8% Annual Rent$204,000.00 Property Taxes$17,330.60 Operating Expenses0
Year 1 Year 5 Year 10
Expected Rent $204,000.00 $17,000.00 / mo $1,020,000.00 $17,000.00 / mo $2,040,000.00 $17,000.00 / mo
Estimated Expenses $17,330.60 $86,653.00 $173,306.00
Net Cash Flow $186,669.40 $933,347.00 $1,866,694.00
HOA Fees $78,399.96 $391,999.80 $783,999.60