3619 FORMOSA Drive
About This Property
Located on a cul-del-sac, this home is perfect for first time home buyers or investors alike! A bright formal sitting area right off the front opens to the main living room perfect for entertainment. A split floor plan separates the master from the rest of the bedrooms, with the living space and kitchen centrally located. The back yard is a great place to enjoy your coffee or start a small garden. This sweet neighborhood is only 8 minutes to downtown making your commute a breeze. The exterior was painted and roof redone in 2015 so don't worry about the big ticket items, come check it out today!
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 4, 2019 | Sold | ||
| Sold | |||
| Aug 28, 2019 | Sold | ||
| Sold | |||
| Jun 10, 2019 | Listed by UNITED REAL ESTATE GALLERY | $138,000 | |
| Listed by UNITED REAL ESTATE GALLERY | |||
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Priced to sell!! This charming home has several possibilities you can make it an income generating property while you live in it by renting out one side of the home that has a separate entrance large bedroom with full bath and a wet bar area that can be converted to a full kitchen. Another possibility is you can rent out part of the home with 2 bedrooms 2 baths, or you can have 3 bedrooms with a bonus room that you can make a 4th bedroom /Office / workout room, you decide. With a little work you can make this house your dream home.
There is an enclosed porch in the back and a deck that just needs some TLC. Property sold ASIS... No repairs.
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| Apr 8, 2019 | Listed by ANCIENT CITY REAL ESTATE LLC | $138,000 | |
| Listed by ANCIENT CITY REAL ESTATE LLC | |||
| Apr 3, 2002 | Sold | ||
| Sold | |||
Property Highlights
Building Info
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Price/ft²
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About Southeast Jacksonville
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Last Updated: 2 years ago
Data Source: Real MLS, MLS# 988631
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