Richard & Teresa Harris Acquire Marco Island Condo For $3.2M
SOLD
Florida
See Similar DealsCondo4,020 SF
Sold 07/14/2023
SOLD
Richard & Teresa Harris Acquire Marco Island Condo For $3.2M
970 Cape Marco Dr Marco Island, FL 34145, USA
See Similar DealsCondo4,020 SF
Sold 07/14/2023
Summary
FLORIDA
Asset Type:Condo
Price Per Square Foot:$796
Total Square Footage:4,020 SF
Transaction Type:Sale
The property involved in this transaction is a Condo located at 970 Cape Marco Drive in Marco Island. The sale took place on 07/14/2023. The property spans 4,020 square feet and was sold for a price of $3,200,000, resulting in a price per square foot of $796.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $3,200,000
- Address: 970 Cape Marco Drive
- Market: Marco Island
The buyer of the property is Richard & Teresa Harris, while the seller is Maureen A Mcquaid Rev Trust. Representing the buyer is Chris Sullivan from Remax.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59
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