Residential Properties

12 Months Ended

Dec. 31, 2019

Residential Properties

Residential Properties

NOTE 6. RESIDENTIAL PROPERTIES

At December 31, 2019, we owned 85 single-family residential properties which are all located in Southeastern Florida and are carried at a total cost, net of accumulated depreciation, of approximately $13.5 million. At December 31, 2018, we owned 86 single-family residential properties that were carried at a total cost, net of accumulated depreciation, of approximately $13.8 million. The income from these properties is included in our statements of operations as “Income on rental properties.” The expenses on these properties are included in our statements of operations in “Rental properties depreciation and expenses.” During the year ended December 31, 2019, we sold one property and realized a gain of approximately $31 thousand.