$595,000
Investment Summary
- Monthly Cash Flow
- -$2,141
- Cap Rate
- 2.0%
- Cash-on-Cash Return
- -18.8%
- Debt Coverage Ratio
- 0.31
- Internal Rate of Return (5 years)
- -14.1%
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
Amazing 4 Bed/3.5 Bath/4 Car Garage **END UNIT** on a Cul-de-sac with serene water views in highly desirable Landings at Coral Creek community! Tucked away in the back of the community, minutes from the bridge to Boca Grande, enjoy the stunning white sand beaches from numerous beach access points and take in sunsets from the Gasparilla Island Lighthouse. 2015 COMPLETELY BLOCK BUILD with HIGH IMPACT GLASS WINDOWS! *WHOLE HOME ELEVATOR!* Offering 2400 sq ft of sprawling living space over a MASSIVE (nearly 2000 sqft) FOUR CAR garage/workshop. The garage is currently being used for boat storage! Boaters, there is public boat ramp (Placida Park Boat Ramp) just a mile from this community and 4 Marinas just minutes away. If you enjoy life on the water, connecting you to the nature of paradise, this community offers a convenient kayak launch on Coral Creek, within walking distance of this home, that leads out to Gasparilla Sound and the sand bars and popular boating spots of Boca Grande. The vast primary living area with ceramic tile flooring, is ideal for either relaxation or entertaining! Escape to the massive 30ft x 10ft balcony overlooking the community lake where you can enjoy a multitude of tropical birds that also call this paradise home. Step into a chef’s dream kitchen, seamlessly integrated into the grandeur of the living space. This open-concept masterpiece is adorned with sleek granite countertops, a sprawling island/breakfast bar, all designed to blend effortlessly with the elegant ambiance of the home. Off the primary living area, through the graceful entrance of French Doors, offering a seamless transition from liveliness to rest with a sense of elegance, you’ll find the first of four bedrooms. This expansive flex space, which is often used as a den, where you’ll find leisure and interlude either alone or in the company of friends and family. After a long day on the water or an evening exploring the arts and food of Boca Grande, take a ride up the elevator to the 3rd floor where you will find 3 MASTER SUITES with each with a variation of full ensuite bathrooms. The primary master offers TRANQUIL water-views, tray ceilings and large walk-in closet with the ensuite featuring a ritzy full bathtub with a window overlooking the water, separate walk-in shower and private commode. Opposite the primary is the secondary master that offers a walk-in closet and ensuite with walk-in shower. In the middle you’ll find the third master suite with large double sliding door closet and ensuite with tub and shower combo. Updates to the home include a new metal roof in Jan 2024, new oversized AC Unit (with 10 year parts and labor warranty), and plantation shutters throughout the home. Only a 3 minute drive to Publix! 5 minutes to Don Pedro Island State Park. 5 minutes to the Palm Island Ferry Boat! 2 minutes to Eldred's Marina and public boat ramp and less than 5 minutes to various other marinas and golf courses! Some of the amenities this epic community offers is a monumental resort style pool with lake views, a fabulous fitness center, endless social events, tennis and PICKLEBALL courts, kayaking or fishing from the community dock and an abundantly sized clubhouse complete with a library, fireplace, family TV room and dining room! The low monthly HOA includes insurance (exterior), grounds maintenance and exterior maintenance! Discover paradise today - it waits for no one - schedule your showing today to experience the magic of waterfront living!
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Location
Property Details
Parking
- Description: Driveway, Golf Cart Parking, Oversized, Under Building
- Details: Driveway, Oversized, Basement, Attached
- Garage Spaces: 4
- 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: 10
- # of Stories: 3
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Material: Metal
HOA
- Has HOA: Yes
- Association: Sherry Danko
- HOA Fee: $510/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Cluster home
Lot Information
- Parcel ID: 422002332004
- Lot Size: 2012 sqft
Property Information
- Property Type: Townhouse
- Style: Coastal, Elevated, Florida
- Year Built: 2015
Tax Information
- Annual Tax: $7,849
Utilities
- Water & Sewer: Public
- Heating: Electric
- Cooling: Central Air
Location
- County: Charlotte
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,141
- Cap Rate
- 2.0%
- Cash-on-Cash Return
- -18.8%
- Debt Coverage Ratio
- 0.31
- Internal Rate of Return (5 years)
- -14.1%
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:
| $595,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$476,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $119,000 |
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:
| $17,850 |
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:
| $136,850 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,400 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $248 |
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:
| $1.29 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $476,000 |
|---|---|
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:
| 6.840% |
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:
| $3,116 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $654 |
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:
| $217 |
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:
| $3,987 |
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:
| $3,100 | $37,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$186 | -$2,232 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,914 | $34,968 |
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. | 21% | -$654 | -$7,849 |
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% | -$217 | -$2,604 |
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% | -$248 | -$2,976 |
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% | -$155 | -$1,860 |
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% | -$155 | -$1,860 |
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. | 16% | -$510 | -$6,120 |
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 | 63% | -$1,939 | -$23,269 |
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:
| $975 | $11,700 |
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. | -$3,116 | -$37,392 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $2,141 | $25,692 |