Unit 4-2. Nice riverfront condo on the bottom floor. Step out off the patio to the river. Two bedrooms, first with a king bed and second bedroom has queen. Monthly HOA dues are $423. The Woodlands on the River Bylaws require the unit to be included in the HOA rental pool. The rental split varies from year to year. Currently the split is 48%/52% between the owner/HOA. This unit is on track to gross $18,000 in 2023. Property taxes for 2023 are estimated at $945 for the year. Property insurance currently is $320/year. Electricity averages $1,400/year. Additionally, per the Bylaws the unit can be used by the owner at anytime it is available however during the peak times of Christmas, Spring Break, Memorial Day weekend, Labor Day weekend and Summer between 6/15 to 8/15 the owner can only use the unit for 30 of those days. If the owner wishes to use more days payment of the HOA portion of daily rental is required. Pets are only allowed for Owners. Because of the HOA rules, it is difficult to obtain financing for this condo. This unit is a great way to have a place in Red River and a lower price point. These units rarely come up for sale.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
