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Property Description

Great ROI on this Rent-N-Hold in Pine Ridge At Martin Downs!!!

2/2 in desireable Pine Ridge Gated Community.

Monthly HOA Includes basic cable,lawn care, pool, tennis, garbage, exterior insurance & 24 hour Martin Downs security making rounds!

No Age Restrictions!  Minutes to downtown Stuart, and I-95 and Turnpike access just 10 minutes away.

Comps:

1635 SW Silver Pine 2/2 1,111SqFt Sold 10/2016 $125,000

MLS ID:  M20000121

2762 SW Matheson   2/2 1,111SqFt Sold 10/2016 $120,000

MLS ID: M20000812

1935 SW Silver Pine Way #117,F-1 2/2 1,111SqFt Sold 04/16 $130,000

MLS ID: RX-10199152

Rents in Area up to $1,100 for Similar 2/2’s

$1,100 x 12 = $13,200 gross yearly income

$303 monthly HOA = $3,624 yearly HOA

$1,142 Taxes “2016” 

$13,200 – $3,624 – $1,142 = $8,434 Net Income

$8,434 / $84,340 = 10% Cap Rate