$769,000
Investment Summary
- Monthly Cash Flow
- -$2,355
- Cap Rate
- 2.5%
- Cash-on-Cash Return
- -16.0%
- Debt Coverage Ratio
- 0.40
- Internal Rate of Return (5 years)
- -11.5%
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
Under contract-accepting backup offers. One or more photo(s) has been virtually staged. Rare opportunity to purchase secluded home in unique Hidden Lake Estates, a gated community. Double door entry invites you into a spacious foyer with a large atrium centered in the living space. Water and power supply in atrium offers a myriad of options to customize this space, perhaps a herb garden or pond with water feature? Walking around the atrium you take a step down to the living room with fireplace (propane) and recessed lighting. Continue around to the dining room which then takes you to the custom designed kitchen remodeled in 2018. Features include quartzite countertops, solid wood cabinetry with soft close drawer and doors and under cabinet lighting. Glass subway tile backsplash and a huge center island with even more storage and USB outlets. High-end stainless steel appliances, including a microwave drawer tucked away to the side of the double-oven range. Pendant lights illuminate the bar and matching chandelier over the island together with recessed lights provide plenty of light in the evenings. A perfect gathering spot, either seated around the island or at the bar shared with the family room. Family room has vaulted ceiling, clerestory windows, ceiling fan and stacking glass doors leading to large lanai. The lanai has plenty of space for entertaining (46’x12’), has 4 ceiling fans, terracotta tiled floor and can be accessed from kitchen, family room, primary suite and hangar. The living space is open, flexible and bright, porcelain tiled floors, except living room has laminate (2025). Guest bedroom off family room has mirrored closet doors, recessed lights and ceiling fan. Hallway from family room extends to guest bathroom with double vanity, then to third bedroom with ceiling fan and walk-in closet. The primary suite is large with laminate flooring(2025), ceiling fan, walk-in closet in addition to closet space in bathroom. Bathroom has double vanity and space for a small make-up vanity. Exterior doors lead to lanai. There is a closet in the foyer and a laundry closet by the second bathroom. Spacious laundry room by the kitchen has huge pantry with roll-out drawers and built-in stainless steel utility sink. The laundry leads to a mud-room with storage and then to the attached two car garage with epoxy flooring. Water softener system replaced 2022. The hangar is 49’ wide, 50’ deep with 3 sectional doors, the center pieces can be raised up when the doors are open. Access width 43' max, height 12' (approx) New Galvalume roof, insulation and gutters installed 2025. Epoxy flooring. Windows are double paned. All ceilings have remotes/ wall controls All windows and door in the house are hurricane impact rated including the clerestory windows. Except the windows in the laundry room and garage have not been upgraded. The doors in the primary suite are double paned with mini-blind insets. The whole house generator (22KW) is fueled by propane (250 gal tank - buried). ADT security system. Hidden Lake Airport (FA40) has an asphalt runway 4,425' x 50', allowing many types of aircraft to use the facility. PAPI and full runway lighting allows night operations, so the runway is open 24/7. 100LL fuel available for purchase 24 hrs/day. The roads in Hidden Lake East also serve as active taxiways, allowing pilots to taxi their aircraft directly to the hangar at their home.
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Location
Property Details
Parking
- Description: Boat, Garage Door Opener, In Garage, Open, Oversized
- Details: Driveway, Garage Door Opener, Garage Faces Side, Off Street, Oversized, Parking Pad, RV Garage, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 10
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Concrete Block
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Shingle
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 302517004A000004040
- Lot Size: 35794 sqft
Property Information
- Property Type: Single Family Residence
- Style: Ranch
- Year Built: 1981
Tax Information
- Annual Tax: $7,491
Utilities
- Water & Sewer: Private, Well
- Heating: Central, Electric, Heat Pump, Propane
- Cooling: Central Air
Location
- County: Pasco
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,355
- Cap Rate
- 2.5%
- Cash-on-Cash Return
- -16.0%
- Debt Coverage Ratio
- 0.40
- Internal Rate of Return (5 years)
- -11.5%
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:
| $769,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$615,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $153,800 |
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:
| $23,070 |
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:
| $176,870 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,458 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $313 |
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:
| $1.30 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $615,200 |
|---|---|
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:
| $3,939 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $624 |
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:
| $224 |
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:
| $4,787 |
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:
| $3,200 | $38,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$192 | -$2,304 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,008 | $36,096 |
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. | 20% | -$624 | -$7,492 |
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% | -$224 | -$2,688 |
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% | -$256 | -$3,072 |
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% | -$160 | -$1,920 |
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% | -$160 | -$1,920 |
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 | 45% | -$1,424 | -$17,092 |
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:
| $1,584 | $19,008 |
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. | -$3,939 | -$47,268 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $2,355 | $28,260 |