$589,500
Investment Summary
- Monthly Cash Flow
- -$1,240
- Cap Rate
- 3.7%
- Cash-on-Cash Return
- -11.0%
- Debt Coverage Ratio
- 0.60
- Internal Rate of Return (5 years)
- -6.6%
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
PRICED TO SELL! SELLER OFFERING $10,000 credit for interest rate buy down, sellers concessions,or price reduction! This exquisite Flagler “Award Winning“ model estate, custom-built in 2015, boasts over 2,750+/ square feet of luxurious living space, 5BR/2.5BA, and a 2-car garage. The home features a New Roof (2024), New AC – Solaris UV Light Filtration (2024), New Water Heater (2024), New Screens, New Pool Filter and Pump (2024), painted 2024, and many more upgrades. The exterior features Hardie board siding, Bahama shutters, rain gutters with a French drain, added shrubs for privacy, and tropical landscaping with an irrigation system. Set on an oversized corner lot, the home offers exceptional curb appeal and a private, resort-like atmosphere, complete with a custom-designed pool. Located in Green Key Village in Lady Lake, this Key West-style community offers a tranquil, conservation-focused setting, while remaining conveniently close to shops, restaurants, and attractions and offering lawn maintenance for ease of living. As a gated community, Green Key Village offers enhanced security and peace of mind. Residents enjoy a host of amenities, including a pet-friendly dog park, resort-style heated pool, tennis and pickleball courts, and an eco-community vegetable garden. A grand screened-in front porch welcomes you into the expansive entry, where you’ll find engineered wood floors, soaring 12-foot ceilings, elegant crown molding, and 5-inch baseboards throughout the home, adding a refined touch. The bright, open living area features stunning views of the pool and is anchored by a striking coffered ceiling, creating an inviting space for both relaxation and entertainment. The chef’s kitchen is a showstopper, with sleek tile backsplash, high-end Kohler plumbing fixtures with ceramic valves, under-cabinet lighting, a large pantry, and energy-efficient appliances. A farmhouse sink is complemented by a water filtration system, while a small island adds functionality and style. Off the kitchen you'll love the breakfast nook complemented with a built-in desk area with a granite countertop - perfect for home office tasks or managing family activities. The laundry room features a utility sink and cabinets for added convenience. A mudroom with a half bath, easily accessed from the garage, helps to keep the home clean, especially after pool time. The home is equipped with a MERV 11 air filtration system that reduces dust, ensuring pristine indoor air quality. The Viega Manifold hot water system offers nearly instant hot water throughout the home, enhancing comfort and efficiency. The spacious master suite features a tray ceiling, upgraded lighting, and hardwood flooring. The adjoining master bath is a luxurious retreat, with a chandelier, Roman-style walk-in shower, and dual walk-in closets. The spare bedrooms are spacious with a shared Jack-and-Jill bathroom between these bedrooms, which includes dual vanity areas and additional linen closets. Stepping outside to the rear lanai you are welcomed to a newly dual-screened porch with a divider. The impressive pool features an 8FT max depth with the idea of therapy and exercise swimming in mind. The expansive attic is well-insulated with spray foam insulation, keeping it cool even during the summer months. With too many features to name, this home is a showstopper and a must-see in person to appreciate all the upgrades. Call today to schedule your private showing!
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Location
Property Details
Parking
- Description: Garage
- Details: Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Partial): 1
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 4
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Asbestos Shingle
- Foundation: Slab
- Roof Material: Shingle
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Toni Sponheimer/ Leland Management
- HOA Fee: $158/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 291824030000003200
- Lot Size: 13543 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2015
Tax Information
- Annual Tax: $9,995
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air, Attic Fan
Location
- County: Lake
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,240
- Cap Rate
- 3.7%
- Cash-on-Cash Return
- -11.0%
- Debt Coverage Ratio
- 0.60
- Internal Rate of Return (5 years)
- -6.6%
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:
| $589,500 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$471,600 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $117,900 |
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:
| $17,685 |
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:
| $135,585 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,751 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $214 |
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:
| $1.49 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $471,600 |
|---|---|
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:
| 6.810% |
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:
| $3,078 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $833 |
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:
| $287 |
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:
| $4,198 |
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:
| $4,100 | $49,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$246 | -$2,952 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,854 | $46,248 |
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% | -$833 | -$9,995 |
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% | -$287 | -$3,444 |
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% | -$328 | -$3,936 |
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% | -$205 | -$2,460 |
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% | -$205 | -$2,460 |
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. | 4% | -$158 | -$1,896 |
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 | 49% | -$2,016 | -$24,191 |
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:
| $1,838 | $22,056 |
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. | -$3,078 | -$36,936 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,240 | $14,880 |