Lofty 1580 Andover Dr

Renovated Single Family Home located half a mile from the ocean in Dunedin, Florida

Offering Details

The owner and Property Manager, Alec Vanbeek, is selling a portion of his equity on the Lofty Marketplace. Alec plans to hold 10% of the equity in the property.
This property has a loan of $200,000 View the loan agreement here
The Rental Yield is based on the equity value of $112,500 (Total Investment Value minus Debt). As Alec pays down the debt payments himself in full, his equity percentage in the property will increase and the equity percentage of investors on Lofty will decrease proportionally.
The photos above have been virtually staged.
The property appraised for $345,000. Alec has chosen to list the property at $310,000, the same price he purchased the property for in October, 2023, as a courtesy to investors.

Renovated Single Family Home on a 1/4 acre corner lot in a non-flood zone.
The Lazy Lake water source is partially owned by this lot and can be used for free water in the future.
Features include a covered front porch, spacious living room, remodeled kitchen and dining area, 35' family room with wall-to-wall windows, utility/laundry room, a rear patio, and an oversized garage.
The main living space adorned with crown molding and chair rail finishes.
Dunedin is home to unspoiled islands, white-sand beaches, miles of trails, and a lively, bike-friendly downtown of quaint shops, craft breweries, and independent eateries.
Property taxes are currently $1,123, but Alec has forecasted the taxes to be $4,350.91 in 2024. Alec will provide a credit for the difference once the 2024 taxes are due to lower the tax burden for investors.
Alec will provide a credit to replace the water heater and electrical panel.
A brand new A/C system was installed in February, 2024.