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RiverNorth Capital Management Acquires SFR In Wellington For $6.2M

Property Image
SOLD
$6,237,000

Florida

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Single Family Residence6,246 SF
Sold 01/29/2021
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Property Image
SOLD

RiverNorth Capital Management Acquires SFR In Wellington For $6.2M

12549 Cypress Island Way, Wellington, FL, USA

See Similar Deals
Single Family Residence6,246 SF
Sold 01/29/2021
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Summary

FLORIDA
Asset Type:Single Family Residence
Price Per Square Foot:$998
Total Square Footage:6,246 SF
Transaction Type:Sale

Located in Wellington, the property at 12549 Cypress Island Way was recently sold in a closed transaction. The single-family residence spans 6,246 square feet and boasts a price per square foot of $999. The sale took place on January 29, 2021, with a final sale price of $6,237,000. The buyer, Cindy F. Galley and Patrick W. Galley, represented by RiverNorth Capital Management, acquired the property from Stock Development, with John Ferry acting as the seller. The transaction was facilitated by broker Carol Sollak from Engel & Volkers.

Summary of transaction details

  • Property Type: SFR
  • Transaction Amount: $6,237,000
  • Market: Wellington
  • Address: 12549 Cypress Island Way
  • Square Footage: 6,246
  • Price per Square Foot: $999
  • Buyer: Cindy F. Galley, Patrick W. Galley - RiverNorth Capital Management
  • Seller: Stock Development - John Ferry
  • Broker: Carol Sollak - Engel & Volkers

The buyers, Cindy F. Galley and Patrick W. Galley, represented by RiverNorth Capital Management, acquired the property at 12549 Cypress Island Way in Wellington. On the other hand, the seller, John Ferry, represented Stock Development in this transaction. The purchaser was advised and guided by Carol Sollak from Engel & Volkers, who facilitated the deal. This closed transaction highlights the successful collaboration between the involved individuals and companies in the Wellington market.

Players

Carol Sollak
7 deals$64.9M volume
BROKER

SELLER

Details

SOLD
IMAGE: Carol Sollak & Patrick W. Galley DATE: 01/29/2021 ADDRESS: 12549 Cypress Island Way MARKET: Wellington ASSET TYPE: SFR BUYER: Cindy F. Galley, Patrick W. Galley - RiverNorth Capital Management SELLER: Stock Development - John Ferry BROKER: Carol Sollak - Engel & Volkers PRICE: $6,237,000 SF: 6,246 ~ PPSF: $999

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$332,640.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$22,158.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,566.56
Annual Debt Service$354,798.74