Robert & Kimberly Hobbs Purchase Condo On Marco Island For $4.4M
970 Cape Marco Drive
$4,400,000
$937/SF
Building Size
4,694 SF
Asset Type
Condo
Closing
Mar 14, 2024
AI
The condo located at 970 Cape Marco Drive, Unit 2002 in Marco Island was successfully sold for $4,400,000. The property spans 4,694 square feet, resulting in a price per square foot of $937. The transaction took place on 03/14/2024 with Chris Sullivan from RE/MAX representing the seller.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $4,400,000
- Buyer: Robert & Kimberly Hobbs
- Seller: Anthony Seger
- Broker: Chris Sullivan - RE/MAX
- Market: Marco Island
- Address: 970 Cape Marco Drive, Unit 2002
Robert & Kimberly Hobbs acquired the condo from seller Anthony Seger, with the assistance of broker Chris Sullivan from RE/MAX. The successful completion of this transaction marks a significant deal in the Marco Island market.
Players
Marco Island Condo Market Snapshot
Boundary boundary · Condo · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93