Asking Price: $5,020,000
Building Size: 35,126 SQ FT
Lot Size: 35126
Cost per Square Foot: $142.91
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This 21 Home SFR Investment Portfolio opportunity located in St. James Bay Florida offers an investor immediate cash flow. This gated Community is located at St James Bay Golf and Residential community 6 miles East of Carrabelle.in the outer Tallahassee market area. This 21 Home SFR Investment Portfolio can be packaged for an investor with any of our other portfolios in Florida as well as throughout the country. The homes in this portfolio were all built in 2006 and offers an average of 1673 sqft per home. There are 11 - 2 bed / 2 bath homes and 10 – 3 bed / 3 bath homes. These well laid out floor plans range from 1574-1794 livable square feet, averaging 1673 SF in total. Rental rates throughout the portfolio are 2% below market rates, which are continuing to climb in this submarket and will continue bringing increased cash flow to investors bottom line over the years. Renters occupy 44% of St James Bay's housing market.
Single-family detached homes are the single most common housing type in St James Bay. As part of this quiet, scenic gated community, Condo residents also have access to the St. James Bay Recreational Facility including the fishing pier, playground, picnic pavilions, clubhouse, restaurant, community pool, tennis courts, and bay access. The median list price per square foot in Franklin County is $238 which is 40% higher than the $143 asking price per square foot of this portfolio. This neighborhood's median real estate price is $412,358, which is more expensive than 83.6% of the neighborhoods in Florida and 78.1% of the neighborhoods in the U.S, It is also 42% higher than the asking price per home of this portfolio of $239,048, making this a great investment opportunity. St James Bay home values have gone up 8.1% over the past year and are predicted to rise 13.9% within the next year.
Key Points: Go to www.SFRhub.com to add a custom search and view additional information High 100% Occupancy rate Rental rates throughout the portfolio are 2% below market rates The average price per home in this portfolio is at a hot $239,048, which is 42% lower than the neighborhood average price of $412,358 Renters occupy the majority of St James Bay’s Housing Market St James Bay home’s annual appreciation rate is at 8.1% over the past year St James Bay home’s annual appreciation rate is predicted to rise 13.9% within the next year Median price per square foot of $143 is 40% lower than the county average of $238