|Price/Rent PSF||$ 3,020,000.00|
|SQ. FT. Available||19322.00|
Cape Coral sits on Florida’s stunning Gulf Coast with a regional population of 1.2 million people. With more than 400 miles of sprawling canals, Cape Coral is one of the most navigable cities by waterways in the world. Cape Coral is the largest city in Southwest Florida, strategically located between Tampa and Miami. The City is within 10 miles of Interstate 75 connecting to the north and southeast parts of the State. Cape Coral is #1 of the top 25 growth cities in the country given their incredible 2016 job growth (3.93%), 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 with modern infrastructure systems in place. 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 while fiber optics provide an easy global reach.
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This 13 home Build For Rent portfolio is currently under construction with a well-known home builder, Carribean Homes, in the greater SW Florida submarket. This portfolio prominently resides in Cape Coral. Excellent opportunity for Buyer to take advantage of Builder’s access to additional lots in this submarket and quickly scale to 100 Build For Rent homes. These concrete & steel designed homes are being built not only to save 50% more energy, but all models have a certified Wind Rating of 200 MPH, which exceeds Dade County code requirements. This offering is being made in an exploding market in the greater Cape Coral / Fort Myers MSA. Cape Coral is the largest city in southwest Florida and nearly 75 percent of Florida's population is within 160 miles of Cape Coral. The state of Florida is already well known for its business-friendly environment offering low corporate income tax rates and no personal income tax, continuously ranking Florida as one of the top states to do business in. The Cape Coral-Fort
Myers metropolitan area is the No. 1 fastest-growing in the nation for job and population growth according to Moody's Analytics, 2017, with recent 2016 numbers showing 3.39% increase in population & 3.93% job growth. This makes investing in the SW Florida rental market a no-brainer. These quality new builds, hurricane resistant & energy efficient homes for rental investment features a rare opportunity for Buyer to purchase homes at Certificate of Occupancy and place tenants prior to completion so the investment is immediately cash flowing.
Carribean Homes 13 Home Build For Rent (BFR) portfolio offers almost no capital expenditures for several years after occupancy. The Builder here has many years of construction experience and has recently designed a product the for SW Florida marketplace, that is not only well designed and aesthetically appealing, but environmentally conscious as well. This BFR investment opportunity offers spacious floor plans throughout, all with 1-story 3 bed / 2 baths homes with 1.5 & 2 car garages. The floor plans range from 1228-1614 livable square feet throughout. All homes come with 5/12 pitch, 26-gauge metal roof accompanied by a 40-year warranty and built with durable exterior concrete & steel walls, offering a R-30 energy rating. Rental rates for stabilized year 1 have been conservatively modeled between $1700-1800 per month for these beautiful homes. Stabilized Year I Cap Rate of 6.09% has conservatively been modeled given market rents in the area today. Gross Yield is a solid 8.8% for stabilized year one with a very strong 31.79% IRR. Pre-Leasing can begin once homes are under construction allowing buyer the unique opportunity to pre-lease homes, close escrow at Certificate of Occupancy and move tenants in immediately, creating cash flow and return on your investment day one!
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