$626,000
Investment Summary
- Monthly Cash Flow
- -$1,219
- Cap Rate
- 3.8%
- Cash-on-Cash Return
- -10.2%
- Debt Coverage Ratio
- 0.62
- Internal Rate of Return (5 years)
- -5.8%
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
WELCOME HOME to this well manicured 1.02 acre property located in the highly sought after neighborhood of Citrus Springs, close to downtown Dunnellon and the famous Rainbow River. This 2,989 sq ft house includes an open concept split floorplan with 3 bedrooms, 2 full bathrooms, a great room that measures 14.2 x 20.6; perfect set-up for cozy theatre movie nights, and an oversized 3 car garage with an inside air conditioner, epoxy painted flooring, and insulated garage doors. The outside landscaping displays butterfly rock gardens with milkweed plants, bamboo for shade, and lemon, lime and orange trees scattered around which enhances the homes warm Florida exterior atmophere, with breathtaking accent lights that automatically come on at dusk. As you enter through the front double door foyer you will be greeted by the inviting view of the custom built pebble-tech saltwater pool that has a new AQUACAL heater/chiller, new variable speed pump, and new LED pool lights for all year round use. The deck is surrounded by beautiful pavers, exterior wall with a ocean mural painting designed by a local artist, large screened cage lanai and plenty of room for late after BBQ gatherings with family and friends. MANY upgrades include: NEW Trane 16-SEER AC/Heat pump system, new WiFi-enabled smart hot water heater, new WiFi-enabled rain bird Irrigation digital controller system, new WiFi-enabled genie controller garage door opener, and smart security lights with 360 degree 24/7 security camera's. Not to leave out both bathrooms have new water-efficient high seated Kohler custom toilets. The kitchen is a chef's dream come true, to include ample cabinet storage, a separate pantry room, granite countertops and a large bartop counter for easy and quick meals. The tray ceilings and led lighting thorughout give this home plentyful elegence for all your entertaining. The property expands from corner to corner with a well wooded backyard for privacy. Part of the backyard has been closed in with cattle fencing for your furry friends or to just come and relax around a serene private fire pit. Crystal Springs has top rated schools, as well an many local city and state parks. Take a few step across the street and enter onto the WORLD KNOWN Withlacoochee State trail for all your morning walks, hikes or bike rides. This Citrus County GREEN ZONE home is equipped with a EV friendly universal TESLA 250 VAC charger (50 AMP circuits) mounted on the external front driveway garage wall. You will also find two detached newly built large storage sheds that have power and lights. One shed has an attached covered carport parking area for mulitple cars. Close but far enough away are hospitals, reaturants and the many unique shops. This is a turn-key move-in ready house just waiting for YOU. Come take a tour and make this house your HOME TODAY!
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Location
Property Details
Parking
- Description: Attached, Concrete, DetachedCarport, Driveway, Garage, Carport
- Details: Covered, Driveway, Electric Vehicle Charging Station(s), Garage Door Opener, Open, Oversized, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 7
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Block, Concrete Perimeter, Slab
- Roof Type: Hip
- Roof Material: Shingle
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 18E17S10027013780001.0
- Lot Size: 44369 sqft
Property Information
- Property Type: Single Family Residence
- Style: Ranch
- Year Built: 1998
Tax Information
- Annual Tax: $152
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Citrus
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,219
- Cap Rate
- 3.8%
- Cash-on-Cash Return
- -10.2%
- Debt Coverage Ratio
- 0.62
- Internal Rate of Return (5 years)
- -5.8%
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:
| $626,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$500,800 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $125,200 |
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:
| $18,780 |
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:
| $143,980 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,989 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $209 |
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:
| $0.97 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $500,800 |
|---|---|
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:
| $3,207 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $13 |
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:
| $203 |
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:
| $3,423 |
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:
| $2,900 | $34,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$174 | -$2,088 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,726 | $32,712 |
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. | 0% | -$13 | -$152 |
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% | -$203 | -$2,436 |
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% | -$232 | -$2,784 |
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% | -$145 | -$1,740 |
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% | -$145 | -$1,740 |
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 | 25% | -$738 | -$8,852 |
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:
| $1,988 | $23,856 |
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. | -$3,207 | -$38,484 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,219 | $14,628 |