$559,000
Investment Summary
We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$646
- Cap Rate
- 4.9%
- Cash-on-Cash Return
- -6.0%
- Debt Coverage Ratio
- 0.78
- Internal Rate of Return (5 years)
- -1.8%
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
Here is a unique and SIMPLY STUNNINGLY LOVELY lakeside location and luxury home. This beautiful high quality corner condo is truly unique - overlooking water, pines, palm trees and varied wonderful wildlife. Relax at home in privacy and enjoy peaceful amazing skies ablaze multi colored sunsets. This beautiful prime home with custom upgrades has been carefully maintained showing true pride of ownership and condo STANDS OUT as one of the very best 5% of the exceptional Golf Lake modern homes. Truly PRIME and PREMIUM inside and out - with an extended PRIVATE TERRACE plus wide screened lanai. This is an almost one-of-a-kind, high-class, high-quality and very desirable home in which to live a busy lifestyle of all that Tampa Bay Florida has to offer on your doorstep. Or this lovely home can simply provide a private quiet retreat to relax and appreciate nature in the tranquil beauty of this lovely community. 3 spacious bedrooms, 2 quality bathrooms, 1801 heated sq ft plus private screened lanai of 139 sq ft accessed from living room and master BR. The open unobstructed living room with good size dining room area flows into the spacious eat-in kitchen with beautiful stone countertops. The gorgeous main bedroom suite has beautiful double walk-in shower; his & hers walk-in closets; twin vanities; water closet with privacy door. Split plan guest or family quarters have Bedroom Two with guest bathroom. Corner Bedroom Three has triple window lake & golf views; and the pleasant views of the golf environment - fairways, greens and bunkers on East Bay Golf Course. Elevator access is close and convenient or use the staircase to go down just one flight of stairs to 16'x20' over-sized under-building Garage 9 - with easy access pedestrian door near elevator and lots of room for additional storage. Plus large laundry room with storage space. Pet friendly community (2 pets up to 25lbs), 3 month minimum rental. Tight knit Association with well funded reserves and professional on-site Property Manager.. The low monthly HOA fees cover a lot: Water/trash/sewer, Internet/WiFi, Cable TV, Pool, Escrow Reserves, Building Insurance, Building & Grounds Maintenance & Lighting, Exterior Pest Control. Community amenities include heated pool & spa; resort style clubhouse with full kitchen, lounge, private meeting room. Plus a low cost country club lifestyle and golf without membership fees but with snack bar and bar open daily to all residents. Such a quiet location yet easy to to anywhere in Pinellas County. Just minutes from the beach. Close to restaurants, entertainment & shopping at Largo Mall or new Seminole City Center, with nearby ER-hospitals-medical. Just 15 mins - 6 miles to our Gulf Beaches, 20 to 30 mins to St Pete, Tampa, Clearwater. This home, building & community are very well designed, well built, well maintained and well managed. All-concrete construction, strong and solid, safe and sound, high and dry, peaceful and private. Country Club Condominiums is now a sought after and desirable Pinellas County community with increasing investment value. A great place to call home or a home away from home. CCC is truly a hidden oasis, the day and night beauty is barely believable - ask for a sunset showing to choose your piece of paradise. Please don’t miss the opportunity to make a very special place yours, it really does not get much better than this! Great Community – Great Location – Great Lifestyle - Great Value - 2106 is a GREAT HOME!
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Location
Property Details
Parking
- Description: Garage Door Opener, Guest, Oversized, Under Building
- Details: Garage Door Opener, Guest, Oversized, Basement
- Garage Spaces: 1
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 9
- # of Stories: 5
Exterior Features
- Exterior Walls Materials: Masonry
- Foundation: Slab
- Roof Material: Built-Up
HOA
- Association: Terry Cross
- Additional Association: Country Club
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 023015184010002106
- Lot Size: 0 sqft
Property Information
- Property Type: Condominium
- Style: Other
- Year Built: 2004
Tax Information
- Annual Tax: $2,434
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Pinellas
Listing Details
Investment Summary
We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$646
- Cap Rate
- 4.9%
- Cash-on-Cash Return
- -6.0%
- Debt Coverage Ratio
- 0.78
- Internal Rate of Return (5 years)
- -1.8%
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:
| $559,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$447,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $111,800 |
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:
| $16,770 |
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:
| $128,570 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,801 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $310 |
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:
| $2.00 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $447,200 |
|---|---|
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:
| 6.840% |
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:
| $2,927 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $203 |
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:
| $252 |
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:
| $3,382 |
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:
| $3,600 | $43,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$216 | -$2,592 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,384 | $40,608 |
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. | 6% | -$203 | -$2,434 |
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% | -$252 | -$3,024 |
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% | -$288 | -$3,456 |
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% | -$180 | -$2,160 |
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% | -$180 | -$2,160 |
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 | 31% | -$1,103 | -$13,234 |
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:
| $2,281 | $27,372 |
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. | -$2,927 | -$35,124 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $646 | $7,752 |