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Gulf Coast villas and land sales - Port Charlotte

Development Land for Sale Gulf Coast, Florida, United States
South Gulf Cove, Port Charlotte

Situated on one of the few remaining stretches of un-developed land on the Southern Gulf Coast, the new designated water community of South Gulf Cove, is adjacent to the established Rotunda area of Port Charlotte. Just 7 minutes away from the Gulf of Mexico, the development has communal boat docks with deep water access.

This area is ideal for a dream home, vacation pool home or an investment for the future. We have plans available, with optional extras or if you like you can design your own!

The lots
We have a number of 1/4 acre lots to sell, at $80,000 each (approx. £41,250 at the current exchange rate!), all within the designated water community. Although the lots do not have direct water frontage, there are communal boat docks just a minutes walk away, with deep water. Water front lots are available, but will start at $250K.

Many of the lots are situated together, so it would be possible to purchase multiple lots and combine to make a larger single lot if required. Restrictions apply to minimum size of building but no maximum size is stipulated, so you can build your dream home. You can build on all, any or none, as you wish, with no time limits.

All utilities and road infrastructure are in place, and the land is ready to clear and build on. Only a few homes have so far been built, so the land prices remain affordable. However, like the Port St Lucie area on the Atlantic coast, as more homes are built and more facilities are provided (i.e. shops, club houses, etc.) the land value will increase dramatically.

This is an amazing opportunity to buy land so close to the ocean!

TOTAL CASH INVESTMENT

TOTAL CASH INVESTMENT REQUIRED
(This results in:-)
$ 23,200.00
MORTGAGE AMOUNT $ 60,000.00
APPROX MONTHLY  MORTGAGE PAYMENT $ 250.00
Estimated annual expenses (assuming land remains un-developed) $ 800.00


Construction loans are available when/if you decide to build on the land, and the whole can be re-mortgaged on completion if required.

EXAMPLE HOMES YOU CAN BUILD


Choose from a selection of ready-to-build models from of one of our selected developers building in the region, or have a home designed to your own specification.

3 Bed/2 Bath designs available from $145,600.


RENTAL OPPORTUNITIES

The area is perfect for the vacation rental market, as well as the more seasonal ‘snow-birders’, where migrants move down to Florida from the North for extended stays during the winter months. Should you decide to build a home for investment; good rental returns can be achieved. A local property management company will maintain and rent your home for you.

ESTIMATED INCOME & EXPENDITURE:

3 Bed / 2 Bath Property

OUTGOINGS:

Property Taxes & Insurance $ 465.00
Property Maintenance $ 280.00
Utilities (Electric/Water/Sewerage) $ 260.00
Cleaning Fees (est. 2 per month) $ 160.00
Telephone $ 25.00
Rental Program Contract $ 150.00

TOTAL MONTHLY $ 1,340.00
TOTAL ANNUAL $ 16,080.00

INCOME:

Assume 34 weeks occupancy @ £625 per week (est. exch. range 1.8) $ 38,250.00
Less 10% Sales Tax $ -3,825.00
Less Agent Commission $ $ -2,869.00

TOTAL ANNUAL INCOME $ 31,566.00
NETT REVENUE to put towards mortgage $ 15,476.00

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