|Price/Rent PSF||$ 3,150,000.00|
|SQ. FT. Available||23,291|
Cape Coral sits on Florida’s stunning Gulf Coast with a regional population of 1.2 million people. Near to the Caloosahatchee River and more than 400 miles of sprawling canals makes Cape Coral one of the most navigable cities by waterways in the world. The city is within 10 miles of Interstate 75 connecting to the north and south-east parts of the state. Cape Coral is #1 of the top 25 growth cities in the country given their incredible 2016 job growth (4.16%), wage growth (7.08%), population growth (3.93%), home price appreciation (10.66%), and all accompanied by Florida’s pro-business environment.
Cape Coral is one of the largest master-planned communities in the nation. Cape Coral is well-served with the essential utilities, roads and telecommunications resources that are necessary to support growth. Traffic flows smoothly on our established roadways, and extensive broadband and fiber optics provide an easy global reach.
As of 2017, the city of Cape Coral has been named by Forbes as the #1 Fastest-Growing city in the US, #1 Metropolitan area for Job Growth, #1 Future Job Growth, and as #10 Housing Investments Cities. In addition, WalletHub and Business Insider both named Cape Coral as one of the Top 10 Best Cities to start a business.
There is an increase of 19% of single-family buildings permits for the coastal counties, compared to February 2018 to February 2019. According to NeighborhoodScout the Cape Coral area has experienced a YOY increase in rent of 7%. The metro area is experiencing a median home sales price of $220,000 with 74% being homeowners. According to NeighborhoodScout®, single-family detached homes are the single most common housing type in Cape Coral, accounting for 79.3% of the city’s housing units. The median household income is about $105,784 for a family of four. In addition, the number of employed persons increased by 4,744 from January 2019 to February 2019 as unemployment decreased by 1,284.
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This Build for Rent (BFR) investment portfolio allows a buyer to purchase fifteen homes in Cape Coral, Florida. The builder is accustomed to operating at an institutional/production level and can complete homes as scheduled. The builder is able to simultaneously scale production in Cape Coral and multiple other areas in Florida.
Cape Coral had an estimated population of approximately 189,343 in 2018*, a 22% increase since 2010. This has made the area one of the fastest-growing metro areas in the country. The average age in the area is 45.9, reflecting Cape Coral’s transformation from a retirement centric area to one with expanding job growth. Forbes named Cape Coral the #1 area for job growth and the #1 area for future job growth. The median household income in 2017 was estimated to be $53,653.*
This investment portfolio is comprised of fifteen homes. All of the homes are 3-bedroom and 2-bathroom homes. The homes range in size from 1,400 SqFt to 1,723 SqFt. All of the homes will have municipal water their own septic. The builder currently has 15 homesites and is in the process of acquiring additional sites in Cape Coral. He can also operate in multiple MSAs simultaneously.
*U.S. Census Bureau, American FactFinder.
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