Located in Brevard County is this concrete block buy-and-hold opportunity in Cocoa. The home has three bedrooms and one bathroom connected to city water and sewage. Currently, it is tenant-occupied with an under-market rate of $1,000 a month. You can expect a market rental rate between $1,300 – $1,400 per month with minor cosmetic updates. The home in its current condition has a newer HVAC system about a year old with an older roof, plumbing, and electric. Seller financing is also available with $85,000 down, 5% interest for a three-year balloon interest only payment.
With strong comparables above $200,000 near this subject property, we’re estimating an after repair value of $240,000. Brevard is a scorching market expecting nothing but appreciation in the coming months. For more information, contact us..