$1,000,000
Investment Summary
- Monthly Cash Flow
- -$2,750
- Cap Rate
- 2.8%
- Cash-on-Cash Return
- -14.3%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -9.9%
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
This is your fortress in the storm!!! A luxurious waterfront property, just a stone's throw away from DIRECT ACCESS to the Homosassa River and the Gulf of Mexico and is ideal for those who dream of days filled with fishing and boating! This custom 2007 built home by Joe Flynn, has an Engineered foundation on 67 pilings. Walk through the grand double door entrance, and you immediately notice the impeccable attention to detail with freshly painted interior, plantation shutters throughout, the amazing, coffered ceilings, arched doorways, crown molding, and the many windows which offers a bright, airy feeling to the house. Just to your right is an office built for executives with custom built floor to ceiling cabinetry and spacious shelving for displaying awards. To your left a large formal dining room which is just off of your enormous kitchen offering newer high-end, black-brushed stainless steel appliance package, complete with a Hydroviv custom water filtration for the refrigerator water and ice, new quartz countertops, large center island, walk-in pantry, and beautiful wood cabinetry with under cabinet lighting. Your eat-in breakfast nook with large windows overlooking the water, is perfect for family breakfasts and drinking your morning coffee. The kitchen opens up to your expansive living room with floor to ceiling custom cabinetry, with built in gas fireplace, and Florida room complete with solar shades, summer kitchen (bar/sink/built-in BBQ) & commercial exhaust fan; all perfect for entertaining your friends and family. The split-floorplan offers a large master suite with spacious bathroom complete with extensive closet, a roman shower, and gorgeous stained-glass window showcased over the soaking tub. Two more large bedrooms, complete with large walk-in closets, two full size bathrooms with new Corian counters/sinks and linen closets for your guests. Keep everyone safe and comfortable with 3 zoned heating & cooling, 2 zoned surround sound system with built-in speakers, security system, and whole house generator with hook-ups for a second portable generator. Your volume ceiling garage with stand-up attic, built in scuttle stairs, and extra hanging storage is all you need to keep your extra tools/decorations/toys. On the outside, coming back from a day of fishing and boating will be a breeze as you pull your boat up to your newly replaced composite boat dock complete with fish cleaning station, 9000-pound boat lift with remote control, and a place to store your dock supplies and fishing gear accessible at rear of house. On cooler evenings take in your 100 foot-waterfront property and relax by the canal with your friends, sitting around your custom-built fireplace surrounded by the beautiful landscaping, paver pathways and patio. Enjoy all of the extras that the neighborhood of Riverhaven Village has to offer, such as a community park, clubhouse (membership optional) with events, card playing, Pool, Tennis courts, Pickleball, RV/boat parking area and a short distance to the Riverhaven Marina. This gorgeous home has all you need to enjoy all that the Florida lifestyle has to offer. NEW:22 KW Generac whole house generator 2021, HVAC 2022, Luxury carpeting 2021, pavers and landscaping 2019, New dock and Upper deck 2019, Indirect patio column lighting 2019, LG Washer/Dryer 2021 and MORE!!! Home didn't flood during Idalia, or Milton and only had a little water in the garage from Helene!
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Location
Property Details
Parking
- Description: Garage Door Opener
- Details: Garage Door Opener, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 8
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Roof Type: Hip
- Roof Material: Shingle
HOA
- Has HOA: Yes
- Association: RVPOA/Amy Carter
- HOA Fee: $155/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 16E19S25001000020034.0
- Lot Size: 11966 sqft
Property Information
- Property Type: Single Family Residence
- Style: Mediterranean
- Year Built: 2007
Tax Information
- Annual Tax: $7,809
Utilities
- Water & Sewer: Public
- Heating: Electric
- Cooling: Central Air
Location
- County: Citrus
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,750
- Cap Rate
- 2.8%
- Cash-on-Cash Return
- -14.3%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -9.9%
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:
| $1,000,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$800,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $200,000 |
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:
| $30,000 |
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:
| $230,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,281 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $305 |
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:
| $1.34 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $800,000 |
|---|---|
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:
| $5,122 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $651 |
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:
| $308 |
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:
| $6,081 |
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:
| $4,400 | $52,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$264 | -$3,168 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,136 | $49,632 |
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. | 15% | -$651 | -$7,809 |
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% | -$308 | -$3,696 |
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% | -$352 | -$4,224 |
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% | -$220 | -$2,640 |
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% | -$220 | -$2,640 |
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. | 0% | -$13 | -$156 |
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 | 40% | -$1,764 | -$21,165 |
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:
| $2,372 | $28,464 |
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. | -$5,122 | -$61,464 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $2,750 | $33,000 |