Robert & Kimberly Hobbs Purchase Condo On Marco Island For $4.4M
SOLD
$4,400,000
Florida
See Similar DealsCondo4,694 SF
Sold 03/14/2024
SOLD
Robert & Kimberly Hobbs Purchase Condo On Marco Island For $4.4M
970 Cape Marco Drive
See Similar DealsCondo4,694 SF
Sold 03/14/2024
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$937
Total Square Footage:4,694 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$234,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,632.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,858.24
Annual Debt Service$250,298.94
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