$3,200,000
Investment Summary
- Monthly Cash Flow
- -$12,875
- Cap Rate
- 1.3%
- Cash-on-Cash Return
- -21.0%
- Debt Coverage Ratio
- 0.21
- Internal Rate of Return (5 years)
- -16.3%
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
Timeless clean line architecture meets luxury waterfront contemporary Italian design with this 2022 custom built home in the charming community of Yacht Club Estates. The foyer welcomes you with modern elegance, leading past a striking accent wall and a glass-enclosed wine display room toward the staircase to the main living area. The main floor offers fabulous water views with its open concept and access to the upper lanai. You’ll notice top line finishes throughout with light-filled living spaces including a chef’s kitchen outfitted with Miele gas range/oven convection combination with upgraded range hood, Miele refrigerator, microwave drawer and undercounter beverage refrigerator. The solid wood custom cabinets pair perfectly with the expansive center island which is ideal for casual gatherings and entertaining guests. As you move through the living and dining areas the inviting lanai awaits with solid wood tongue and groove ceilings, designer lighting fixtures and views of the heated saltwater infinity edge pool/spa with over 2000 sf of exotic travertine and turf landscaping design. Steps away, the composite oversized dock boast electricity, solar uplighting and running water. The primary bedroom is a calming oasis with lovely water views, access to the lanai and large custom closet. The stunning bath area showcases a free-standing tub and enhanced double walk-in shower all elegantly designed as a spa environment. Three additional bedrooms include custom closets and designer lighting. Downstairs highlights a car collector’s dream garage with parking for up to 10 prized cars or an incredible flex activity area with French doors leading to the lower lanai with the resort style pool. The home also includes Restoration Hardware designer chandeliers and recessed lighting on dimmers throughout, separate laundry room, tankless water heaters, Sonos system w/all existing Smart TVs, battery powered BLINK camera system, irrigation system and outdoor corner motion detector security lighting. The location couldn't be better with world famous pristine beaches nearby and the vibrant downtown St Petersburg, just a 20 minute drive away, offers enticing dining, museums, entertainment experiences and professional baseball and soccer teams. This tranquil residence with its exquisite sunset views offers the ideal blend of elegance, and waterfront living for the lifestyle you desire.
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Location
Property Details
Parking
- Description: Garage
- Details: Driveway, Garage Door Opener, Oversized, Attached
- Garage Spaces: 10
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 6
- # of Stories: 2
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Pillar/Post/Pier
- Roof Type: Gable
- Roof Material: Metal
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 253115841140030300
- Lot Size: 9060 sqft
Property Information
- Property Type: Single Family Residence
- Style: Contemporary, Custom
- Year Built: 2022
Tax Information
- Annual Tax: $48,879
Utilities
- Water & Sewer: See Remarks
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$12,875
- Cap Rate
- 1.3%
- Cash-on-Cash Return
- -21.0%
- Debt Coverage Ratio
- 0.21
- Internal Rate of Return (5 years)
- -16.3%
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:
| $3,200,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,560,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $640,000 |
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:
| $96,000 |
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:
| $736,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,093 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,035 |
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:
| $3.56 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,560,000 |
|---|---|
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:
| $16,392 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $4,073 |
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:
| $770 |
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:
| $21,235 |
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:
| $11,000 | $132,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$660 | -$7,920 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $10,340 | $124,080 |
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. | 37% | -$4,073 | -$48,880 |
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% | -$770 | -$9,240 |
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% | -$880 | -$10,560 |
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% | -$550 | -$6,600 |
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% | -$550 | -$6,600 |
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. | n/a | n/a | n/a |
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 | 62% | -$6,823 | -$81,880 |
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:
| $3,517 | $42,204 |
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. | -$16,392 | -$196,704 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$12,875 | -$154,500 |