$1,690,000
Investment Summary
- Monthly Cash Flow
- -$5,210
- Cap Rate
- 2.4%
- Cash-on-Cash Return
- -16.1%
- Debt Coverage Ratio
- 0.40
- Internal Rate of Return (5 years)
- -11.6%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
Check out your views from this coastal luxury waterfront POOL home with 140 feet of water shoreline! This exquisite property features 4 bedrooms and 3 full and one half bathrooms with wraparound water views including stunning views of Tampa Bay and the St. Petersburg skyline. Prepare to be captivated by the breathtaking sunset views. As you enter this coastal paradise, you're greeted by panoramic water views, 13 foot ceilings, travertine flooring throughout, an inviting great room with gas fireplace and dining area open to the kitchen with an additional seating area. This home is an entertainer's dream. Sliders from living area lead out to your heated salt water pool and covered lanai area. This makes for a perfect set up for all your gatherings. When its time to unwind head to the primary bedroom with ensuite and 2 walk-in closets, plus sliders that lead out to the lanai area. The primary bath includes double sink vanity, separate soaking tub and walk-in shower. Opposite side of the home you will find a guest bedroom with ensuite, plus 2 additional bedrooms and full hallway bathroom. The attractive staircase leads to laundry room with sink and work area. From here you will enter into your garage with 5 panel doors for boat and lifted truck clearance. Garage space includes 2,900 sq. ft., workshop area and half bath. This space can hold up to 6 cars. This kind of storage is hard to find! Outside is where you will be spending most of your time. Enjoy your own private dolphin and manatee show from your covered boat dock with water, electric, fishing station, and 12,000 pound boat lift that can house a 35 foot boat. Plenty of dock space to sit and relax and watch the show! Leaving from your dock you are minutes away from the open waters of Tampa Bay. This is truly a boater's paradise! Feel safe and secure with home security system and 24 hour gated community of Symphony Isles. Home and dock tile roof installed 2023. This home also includes well water for affordable lawn irrigation. The community of Symphony Isles features 24 hour guard security at gate, community clubhouse for all social gatherings, community pool, playground, boat ramp and private beach for residents. Get to know your neighbors and make lasting memories at the vibrant community events throughout the year-from lively casino and Miami Vice nights to end-of-school-year party, and the dazzling Christmas lights that transform the entire neigborhood into a holiday wonderland all this and NO CDD!! Travel time to Tampa International Airport is 25 miles (35 minutes) MacDill Air Force Base is 27 miles (40 minutes) 1 hour to the beautiful beaches of Tampa Bay. This is the one!! Property taxes reflect no homestead.
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Location
Property Details
Parking
- Description: Bath In Garage, Circular Driveway, Driveway, Garage Door Opener, Ground Level, Oversized, Split Garage
- Details: Circular Driveway, Driveway, Garage Door Opener, Oversized, Garage, Attached
- Garage Spaces: 6
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Partial): 1
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 3
- # of Stories: 2
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Tile
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Symphony Iales Master Assoc./CATHY SOBRITO
- HOA Fee: $517/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: U2031191T7000002000170
- Lot Size: 11440 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 1998
Tax Information
- Annual Tax: $22,801
Utilities
- Water & Sewer: Public
- Heating: Heat Pump
- Cooling: Central Air
Location
- County: Hillsborough
Listing Details
Investment Summary
- Monthly Cash Flow
- -$5,210
- Cap Rate
- 2.4%
- Cash-on-Cash Return
- -16.1%
- Debt Coverage Ratio
- 0.40
- Internal Rate of Return (5 years)
- -11.6%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $1,690,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,352,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $338,000 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $50,700 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $388,700 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,911 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $581 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $2.75 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,352,000 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 6.625% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $8,657 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,900 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $560 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $11,117 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $8,000 | $96,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$480 | -$5,760 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $7,520 | $90,240 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. | 24% | -$1,900 | -$22,801 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$560 | -$6,720 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$640 | -$7,680 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$400 | -$4,800 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$400 | -$4,800 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | 2% | -$173 | -$2,076 |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 51% | -$4,073 | -$48,877 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| $3,447 | $41,364 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$8,657 | -$103,884 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $5,210 | $62,520 |