$904,900
Investment Summary
- Monthly Cash Flow
- -$2,901
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -16.7%
- Debt Coverage Ratio
- 0.37
- Internal Rate of Return (5 years)
- -12.2%
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
PRICE IMPROVEMENT! WELCOME HOME to your very own Private PARADISE!! This STUNNING GOLF ESTATE HOME is located in the highly desirable, guard-gated community of SARASOTA NATIONAL in Historic Venice, Florida! This Exceptional & Original WCI built home offers the finest in Florida indoor and outdoor living and is perfectly designed to be versatile for casual or formal entertaining and includes a Golf Membership for two (2). This meticulously maintained Muirfield Model features 3 Bedrooms plus Bonus Room/Den/Office, 3 Bathrooms, 3 Car, side-loaded, insulated Garage and Attic with plenty of storage space, whole-house insulated for sound proofing, in-wall pest control, central vacuuming system as well as whole house water filtration system. From the Pavered Driveway, walk through the covered, screened entryway & step through the front door into this lovely home. You will be amazed at the expansive & open view of the 18th hole of the Golf Course. To your right is a separate Sitting or Dining Room that offers a private area to entertain guests. Just ahead is the Beautiful Chef's Gourmet Kitchen with upgraded Stainless Steel appliances, Convection Microwave, Induction Range, French Door Refrigerator, Granite Countertops, oversized Bar/Island with Sink & Dishwasher on one side and plenty of seating on the opposite side; solid wood Cabinetry with slide-out, soft close drawers & walk-in Pantry. Just to the side of the Kitchen there is an extra roomy, Dining area with a large Slider that opens on to the Lanai. This quality built home exceeds all expectations including stacking, pocket sliding glass doors across the entire back that opens onto the extended, pavered Lanai with wired speakers, plumbed for an Outdoor Kitchen and Spectacular Lake and Golf views; the perfect spot to enjoy your morning coffee or entertain friends in the evening for cocktails!! Split Bedrooms with the generous sized Owner's Suite ideally located for privacy with massive Walk-in Closet, Linen Closet, en-suite Bathroom with dual Vanities & Walk-in Shower. The Family & Guest accommodations are warm & welcoming; one Bedroom also features an en-suite Bathroom/combo tub & shower and a large Bonus Room with gorgeous French Doors which is currently being used as an Office. On the other side of the home is another Bedroom with an adjacent Bathroom. The Laundry room is in a convenient location near the front of the home with a sink & lots of additional wood cabinetry for storage. 10 foot volume ceilings, Surround Sound and Porcelain flooring. high impact glass, shaded windows throughout which finishes out this exquisite home in the fantastic, amenity-rich community that includes an 18-hole championship golf course, Clubhouse with Bar & Dining facilities, zero-entry heated resort style Pool, outdoor Tiki Bar, Tennis, Bocce & Pickleball courts, Fitness center, Coffee Cafe, Playground, Dog Park & so much more. This incredible Home is just minutes to nearby Beaches, Atlanta Braves Spring Training Stadium, Wellen Park's downtown center as well as Historic Downtown Venice. Furniture Optional! This is a MUST SEE; schedule a Showing today!!
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Location
Property Details
Parking
- Description: Attached Garage
- Details: Covered, Driveway, Garage Door Opener, Garage Faces Side, Oversized, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 9
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Hip
- Roof Material: Tile
HOA
- Has HOA: Yes
- Association: Darrell Wilde, General Mgr.
- HOA Fee: $3,254/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0465027530
- Lot Size: 13106 sqft
Property Information
- Property Type: Single Family Residence
- Style: Florida, Mediterranean
- Year Built: 2016
Tax Information
- Annual Tax: $7,566
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,901
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -16.7%
- Debt Coverage Ratio
- 0.37
- Internal Rate of Return (5 years)
- -12.2%
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:
| $904,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$723,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $180,980 |
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:
| $27,147 |
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:
| $208,127 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,654 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $341 |
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:
| $1.88 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $723,920 |
|---|---|
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:
| $4,635 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $631 |
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:
| $350 |
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:
| $5,616 |
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:
| $5,000 | $60,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$300 | -$3,600 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,700 | $56,400 |
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. | 13% | -$631 | -$7,566 |
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% | -$350 | -$4,200 |
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% | -$400 | -$4,800 |
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% | -$250 | -$3,000 |
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% | -$250 | -$3,000 |
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. | 22% | -$1,085 | -$13,020 |
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 | 59% | -$2,966 | -$35,586 |
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:
| $1,734 | $20,808 |
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. | -$4,635 | -$55,620 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $2,901 | $34,812 |