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
About this deal
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