$556,000
Investment Summary
- Monthly Cash Flow
- -$1,119
- Cap Rate
- 3.7%
- Cash-on-Cash Return
- -10.5%
- Debt Coverage Ratio
- 0.61
- Internal Rate of Return (5 years)
- -6.2%
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
40 X 30 BARN!!!!Newer PRICE on this 7.58 acres WITH Lake Reedy Access. Currently a 2 BR 2 BA home (2 master bedrooms) 3rd Bedroom an easy option with it's own Mini Split (See plan drawing in attachments). Beautiful, natural Florida land, abundance of wildlife and Public boat ramp access to bass fishing heaven & FAA approved for Seaplanes in Lake Reedy. Unique in so many ways. Horses are allowed according to the HOA but limits. Beautiful landscaping with palms, river rock and ornamentals welcome you to the front entrance. Exterior colors, along with columns accented with stone, draws you to rocking chairs and enjoy the serene natural beauty and sounds of nature. This stunning home offers over 3000 sq. feet under a metal roof. As soon as you enter the home you are greeted by the open perfectly designed floor plan with great room, dining room & amazing kitchen. Kitchen features granite counters that flow up for the back splash, deep sink, soft close drawers, GE stainless appliances, wood cabinetry & nice size island also with granite top. Crown molding accents this great area along with both bedrooms. Color scheme is crisp & bright, the luxury laminate flooring is gorgeous throughout the home. The hall from the kitchen to the garage takes you by the nice sized open shelved pantry & coffee bar & into laundry room where a granite countertop flows above the LG Thin Q washer & dryer making a perfect folding area and continues to and around the laundry sink. The master bedroom offers beautiful lighting and custom Bali blinds, ensuite master bath boasts of tile flooring, a walk in closet with shelving, tall counters with dual sinks and a very large ADA walk in shower with dual shower heads including a rain shower. Adjacent to the master thru French doors is a sunroom with a wall of windows and custom Bali blinds allowing the view of nature at its best and an entrance to the screened lanai. In this split floorplan the 2nd bedroom is like a 2nd master just beyond the living room/kitchen area. Oversized closet, dual access bathroom with large walk in shower, tall counters and granite make this perfect for the ensuite, guests or workshop in garage. The lanai can also be entered thru French doors off the dining room offering the perfect area to enjoy morning coffee or relax at the end of the day. Beyond the lanai a pan roof covers the outdoor kitchen area complete with brick pavers, sink, ceiling fan, gutters and room for a grill. Just steps away from the outdoor kitchen you will be amazed at the large brick paver area where the fire pit awaits. This area is perfect for quiet personal enjoyment or gatherings with friends and venturing down the cleared paths on the property or enjoying fruit from the orange, avocado or grapefruit trees. The garage is over 900 sq ft. It has two garage doors so has plenty of room for golf cart or motorcycles, etc. and work space. Some of the Kobalt cabinets shown are staying as well as a mini split AC unit. The 40 X 30 concrete floor pole barn has electricity & water nearby as well as storage shed. Lake Reedy is known as one of the best fishing lakes in this area. This home not only has access to lakefront on Lake Reedy but you also have access to the lake at the public boat ramp with floating dock, restrooms and not far away. Don't miss out on this one. Schedule your private showing today and make this your forever home. ***These photos show it furnished. It is not furnished any longer***
Build Your Team
Quickly find investor-friendly professionals who can help you succeed in real estate investing at any stage of the investing journey.
Agents
Match with investor-friendly agents who can help you find, analyze, and close your next deal
Lenders
Get the best funding…find investor-friendly lenders who specialize in your deal strategy
Property Managers
Transition to passive investing. Find a trusted property management partnership that lasts.
Tax Pros & Accountants
Taxes and financial reporting made easy—find experts to create tax savings strategies, file taxes, and more
Location
Property Details
Parking
- Description: Driveway, Garage Door Opener, Garage Faces Side, Ground Level, Guest, Off Street, Oversized, Parking Pad
- Details: Driveway, Garage Door Opener, Garage Faces Side, Guest, Off Street, Oversized, Parking Pad, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 2
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 9
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Metal
HOA
- Has HOA: Yes
- Association: Susan
- HOA Fee: $200/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 283201979100000010
- Lot Size: 330368 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2022
Tax Information
- Annual Tax: $2,232
Utilities
- Water & Sewer: Private, Well
- Heating: Central
- Cooling: Central Air
Location
- County: Polk
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,119
- Cap Rate
- 3.7%
- Cash-on-Cash Return
- -10.5%
- Debt Coverage Ratio
- 0.61
- Internal Rate of Return (5 years)
- -6.2%
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:
| $556,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$444,800 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $111,200 |
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:
| $16,680 |
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:
| $127,880 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,762 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $316 |
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:
| $1.59 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $444,800 |
|---|---|
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:
| $2,848 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $186 |
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:
| $196 |
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:
| $3,230 |
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:
| $2,800 | $33,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$168 | -$2,016 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,632 | $31,584 |
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. | 7% | -$186 | -$2,232 |
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% | -$196 | -$2,352 |
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% | -$224 | -$2,688 |
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% | -$140 | -$1,680 |
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% | -$140 | -$1,680 |
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. | 1% | -$17 | -$204 |
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 | 32% | -$903 | -$10,836 |
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:
| $1,729 | $20,748 |
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. | -$2,848 | -$34,176 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$1,119 | -$13,428 |