The unique convertible into duplex home design has been developed for snowbirds to accommodating multiple housing purposes. First of all it is a completely functional single family home, just like all others. However, the second small kitchen and adjacent exit door give this house additional functionality. By locking only one door, you convert your house to an exceptional duplex dwelling with one large two-bedroom (kitchen and one and a half bathroom) apartment, and one bedroom (kitchen and bathroom) apartment.
The duplex conversion makes this house an ideal vacation solution for Canadian, European, and USA snowbirds. While renting out one of the duplex properties, you are always having a chance to come and relax in your own Florida's beach home.
Renting out one of the duplex parts will give you extra income to cover property taxes as well as landscaping, pool and other maintenance. That makes you vacation house virtually expense free for you and even pay off your mortgage or home equity credit line.
Canadian residents may enjoy their winter vacation without sacrificing great volume income of the winter's high-season.
Florida residents may rent our one of the parts for the winter high-season (January, February, March) in order to accumulate additional income and make the house literally maintenance payments free. The advantages of such option is obvious, however, let's list them out.
Let's take a look at simple considerations for annual and seasonal duplex rent based on today's rent market conditions for Lee and Collier counties.
Single Family House, annual ownership expense: 2,000 sq. feet. house, 10,000 sq. feet land lot.
· property tax - $2,500
· electricity - $1,500
· water - $1,000
· insurance - $3000
· gardening etc. - $1,000
· total = $9,000
If you rent out main Two Bedroom + pool apartment: 1,400 sq.ft.
For Year -$1,500/12month = $18,000
Only High-season (January, February, March) - $3000/3month = $9,000
If you rent out small One Bedroom apartment: 700 sq.ft.
For Year -$800/12month = $9,600
High-season (January, February, March) - $1,600/3month = $4,800
The possibilities are endless, choice is yours!
Contact us to learn more about building your new home in Cape Coral, Pine Island, Fort Myers, Bonita Springs, Naples, Punta Gorda, Sanibel or Captiva and Marco Island. Comes with upgraded features like hurricane impact windows, tile roof, tray ceilings with crown molding, 20 x 20 floor tiles in main living areas and hardwood in the bedrooms. Twelve foot ceiling in the living room and ten foot ceilings in the bedrooms. This is no stripped down model but just an incredible price on one of our premiere pre-construction waterfront homes!
Florida's Real Estate Market Overview
The median home value in Naples is $665,800. Naples home values have gone up 10.1% over the past year and Zillow predicts they will rise 3.9% within the next year. The median list price per square foot in Naples is $453, which is higher than the Naples Metro average of $214. The median price of homes currently listed in Naples is $799,000 while the median price of homes that sold is $492,000.
Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Naples is 9.6%, which is higher than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Naples homeowners underwater on their mortgage is 14.8%, which is lower than Naples Metro at 15.4%.