$549,990
Investment Summary
We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$1,370
- Cap Rate
- 3.3%
- Cash-on-Cash Return
- -13.0%
- Debt Coverage Ratio
- 0.52
- Internal Rate of Return (5 years)
- -8.6%
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
Are you looking for (1) a BEAUTIFUL home? (2) a SPECTACULAR LOCATION? (3) a PEACEFUL PRIVATE retreat in a SERENE SETTING? (4) a HIGH & DRY SAFE SHELTER from storms? Well, if that’s what you want - here it is - ALL OF THE ABOVE! A DREAM HOME waiting here for you - with Million Dollar views at HALF THAT PRICE! This fabulous LAKESIDE LUXURY condominium is elevated 20 ft above ground with fabulous PANORAMIC views of BEAUTIFUL Southern skies and skies-ablaze sunsets in a SIMPLY STUNNINGLY PEACEFUL spot. 2206 is truly a unique premium quality corner condo with custom upgrades that has been well maintained and shows “one careful owner” pride of ownership. With a blend of LUXURY FINISHES and modern materials; strong solid ALL CONCRETE; HIGH and DRY. Just relax at home in PEACEFUL PRIVACY and enjoy – an energy efficient, low maintenance and high-quality lifestyle. Within 2206 the open unobstructed huge living room with good size dining space flows into the spacious eat-in kitchen featuring granite countertops with brand new stainless steel appliances. The expansive main bedroom suite is a true retreat, complete with two walk-in closets, double walk-in shower, twin custom vanity cabinets and water closet with privacy door. For owner privacy, guest bedrooms are split, with 2nd bathroom, storage in multiple closets plus direct access to kitchen and laundry room. Versatile bedroom 3 has with triple windows with lake & golf views entered by double doors and can be a dining room or study. The huge laundry room has storage space. So 3 spacious bedrooms, 2 quality bathrooms and 4 other rooms plus the private screened corner lanai are all NEWLY PAINTED. Elevator access is close and convenient to the 16'x20' under-building over-size Garage 10 with door remote and lots of room for additional storage. The Master HOA has professional on-site property management and the proactive, fiscally sound Building Two HOA Board manages well funded reserves. This building is all concrete construction built to last with strength, security and community pride. No hurricane evacuation is necessary - adding to the peace of mind for all. No need to worry about Structural Integrity Reserve Studies either – the first SIRS recently completed with only minor maintenance work recommended, funded from reserves and NO ASSESSMENTS - SEE ATTACHED! This home, building and community are well designed, well built, well maintained and well managed. All-concrete construction, strong and solid, safe and sound, high and dry, peaceful and private. It really does not get much better than this! Great Community – Great Location – Great Lifestyle - Great Value - 2106 is a GREAT Country Club Condominium. Hence Country Club Condominiums is a sought after and desirable Pinellas County community with increasing investment value. CCC is truly a hidden oasis and 2206 is one of the TOP 5% CCC HOMES. Enjoy this lovely lifestyle and park like environment in a premier Tampa Bay community with the serenity of freshwater lakes, lush greenery, golf course green space, sea birds and varied wildlife. What a great place to call home or a home away from home. Please don’t miss the opportunity to make a very special place yours. PLUS - the day and night beauty of this almost rural charming village of just 6 buildings is barely believable - so why not call today to schedule your private showing, even visit at twilight to explore and choose this premiere piece of paradise?!
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Location
Property Details
Parking
- Description: Underground/Basement
- 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: 8
- # 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: 023015184010002206
- Lot Size: 0 sqft
Property Information
- Property Type: Condominium
- Style: Other
- Year Built: 2004
Tax Information
- Annual Tax: $2,580
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
- -$1,370
- Cap Rate
- 3.3%
- Cash-on-Cash Return
- -13.0%
- Debt Coverage Ratio
- 0.52
- Internal Rate of Return (5 years)
- -8.6%
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:
| $549,990 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$439,992 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $109,998 |
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:
| $16,500 |
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:
| $126,498 |
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:
| $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:
| $1.39 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $439,992 |
|---|---|
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:
| $2,880 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $215 |
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:
| $175 |
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:
| $3,270 |
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:
| $2,500 | $30,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$150 | -$1,800 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,350 | $28,200 |
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. | 9% | -$215 | -$2,580 |
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% | -$175 | -$2,100 |
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% | -$200 | -$2,400 |
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% | -$125 | -$1,500 |
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% | -$125 | -$1,500 |
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 | 34% | -$840 | -$10,080 |
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:
| $1,510 | $18,120 |
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. | -$2,880 | -$34,560 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,370 | $16,440 |