$649,000
Investment Summary
- Monthly Cash Flow
- -$2,347
- Cap Rate
- 1.8%
- Cash-on-Cash Return
- -18.9%
- Debt Coverage Ratio
- 0.29
- Internal Rate of Return (5 years)
- -14.2%
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
Immerse yourself in the epitome of Florida Beach Life Living! The Landings at Coral Creek is an intimate gated community, comprising 132, alluring three story townhomes surrounded by mature landscape and 40 acres of tropical foliage. This End Unit, 4-bedroom, 3-bathroom gem is a sanctuary of luxury and convenience, situated along Coral Creek, prime location for beach and boating enthusiasts, less than two miles away from the Boca Grande Causeway and Gasparilla Island. As you step inside this exquisite property, you'll immediately feel welcomed by the natural light and spectacular views. NEW Luxury vinyl plank flooring extending throughout. Some of the notable interior features include private elevator from the garage to the 3rd floor, high coffered ceilings, recessed lighting, ceiling fans, complete interior painting in 2024, in addition, this home features New Hurricane Impact Windows and Doors in 2023, offering you both peace of mind and enhanced energy efficiency.The kitchen is a chef's delight, complete with 42-inch cabinets, elegant granite countertops, stainless steel appliances with a double oven, seamlessly opening to the great room and dining room to create an inviting area for both cooking and entertaining. Kitchen Renovation was completed in 2024. Step out onto the covered screened balcony just beyond the dining room where you can savor a morning cup of coffee while watching the sunrise over the creek. Located on the first living level is the first of three guest bedrooms, complete with a coffered ceiling, walk-in closet and adjacent full bathroom. The large master bedroom features a private screened balcony that overlooks the conservation area leading to Coral Creek. The ensuite master bathroom is a spa-like retreat with a spacious vanity with 2 sinks, an elegant glass enclosed shower with built-in bench and a generous walk-in closet. Bathroom renovation completed in 2023. For those who love the outdoors, a full light door opens directly to your private screened balcony overlooking your Tropical oasis providing a quiet place for relaxation. There are two more spacious guest bedrooms with walk-in closets, connected by a Jack and Jill bathroom, creating a comfortable space for all your visitors. Guests can enjoy amazing sunsets from their own open air balcony overlooking Placida Harbor. Let's not forget about the all important 4-car tandem garage with a work bench and storage cabinets. Plenty of room to house jetskis, collector cars or even a small boat! Off the back of the garage you will find a covered screened patio, perfect for enjoying the breeze. The exterior of the buildings were recently painted, including the lanai and patio floors, New Lanai Screens on all 3 covered balconies, a New Metal Roof and Gutters were installed in 2024. This charming community is surrounded by the natural beauty of mature trees, ensuring a tranquil and serene environment. Community amenities include a Clubhouse for social gatherings and activities, comfortable sitting areas complete with a double sided fireplace extending to the outdoor covered seating area, fully outfitted kitchen, resort style pool and hot tub, tennis and pickleball courts, a fitness center, community dock to launch your kayak or fishing and a cozy library. Conveniently situated minutes away from multiple marinas, golf courses, public beaches, exquisite dining and a Publix grocery store. Make your Florida Dream a Reality. Schedule your showing today!
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Location
Property Details
Parking
- Description: Boat, Covered, Driveway, Garage Door Opener, Golf Cart Parking, Ground Level, Guest, Off Street, Oversized, Under Building
- Details: Garage Door Opener, Attached
- Garage Spaces: 4
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 13
- # of Stories: 3
Exterior Features
- Exterior Walls Materials: Stucco
- Roof Material: Metal
- Pool Community: Yes
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: 422002451005
- Lot Size: 2012 sqft
Property Information
- Property Type: Townhouse
- Year Built: 2008
Tax Information
- Annual Tax: $7,817
Utilities
- Water & Sewer: Private
- Heating: Central
- Cooling: Central Air
Location
- County: Charlotte
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,347
- Cap Rate
- 1.8%
- Cash-on-Cash Return
- -18.9%
- Debt Coverage Ratio
- 0.29
- Internal Rate of Return (5 years)
- -14.2%
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:
| $649,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$519,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $129,800 |
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:
| $19,470 |
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:
| $149,270 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,320 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $280 |
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:
| $1.34 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $519,200 |
|---|---|
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:
| $3,325 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $651 |
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:
| $4,193 |
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% | -$651 | -$7,817 |
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 | 62% | -$1,936 | -$23,237 |
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:
| $978 | $11,736 |
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. | -$3,325 | -$39,900 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $2,347 | $28,164 |