$3,490,750
Investment Summary
- Monthly Cash Flow
- -$15,506
- Cap Rate
- 0.8%
- Cash-on-Cash Return
- -23.2%
- Debt Coverage Ratio
- 0.13
- Internal Rate of Return (5 years)
- -18.4%
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
Discover a rare opportunity to own this exquisite custom-built residence in the prestigious Riverside Drive section of New Smyrna Beach. This coastal estate is a waterfront masterpiece, showcasing sweeping views of the Intracoastal Waterway and a private two-slip dock with a boathouse and lift for vessels up to 7,000 lbs. Privately gated and impeccably maintained, the home was built in 2012 with exceptional craftsmanship and timeless architectural detail. From the moment you arrive, every element impresses—from the smooth stucco exterior, solid poured-concrete porches, brick-accented steps, custom fencing, and fiberglass colonial shutters to the commercial-grade gate operator ensuring secure entry. Inside, 4,653 square feet of refined living space includes five bedrooms, four full bathrooms, including a beautifully appointed in-law suite with its own kitchen, bath, living and dining areas, and private access through the garage or primary suite—perfect for multigenerational living or extended guests. The elegant interior begins with a formal dining room and a flexible space ideal for a home gym or office. White oak floors in custom lengths and widths flow throughout the open great room and casual dining area. The remodeled kitchen is a stunning focal point, featuring custom cabinetry, quartz countertops and backsplash, new designer lighting, a 48” SubZero refrigerator/freezer, 48” Wolf gas range, 24” Cove dishwasher with water softener, Thor beverage fridge, and pantry. A guest bedroom and full bath are also located on the first floor. Upstairs, two guest bedrooms are connected by a Jack-and-Jill bath, while the expansive primary suite includes a private office, spa-like bath with soaking tub and walk-in shower, an oversized custom closet nearly 20 feet long, and a private balcony overlooking the water. Comfort meets efficiency with closed-cell Icynene insulation in exterior walls and ceilings, added insulation between the main home and in-law suite, three interior laundry hookups, gas tankless water heater systems, and a fully fenced yard ideal for pets. From 2023 to 2025, the home was elevated with luxury upgrades, including two new HVAC systems, remodeled kitchen with quartz surfaces and premium appliances, updated lighting, fresh interior paint and wallpaper, new stair carpeting, frameless glass shower doors in all bathrooms, and a Hydroviv water filtration system serving the kitchen, kitchenette, and primary bath. Thoughtful additions such as custom mirror cabinetry with hidden storage, freshly stained dock boards, and a 24kW Generac whole-home generator (installed in 2024) enhance both comfort and functionality. In 2025, a brand-new cold plunge and completely redesigned front and rear landscaping created a serene outdoor oasis. A spacious three-car garage provides ample room for vehicles, watercraft, or hobby space. This exceptional residence is more than a home, it’s a statement of elegant coastal living, offering unmatched comfort, versatility, and proximity to Historic Canal Street and the Yacht Club. Schedule your private tour today to experience this waterfront treasure firsthand.
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Location
Property Details
Parking
- Description: Attached
- Details: Driveway, Garage Door Opener, Off Street, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 11
- # of Stories: 2
Exterior Features
- Exterior Walls Materials: Stucco
- Roof Type: Hip
- Roof Material: Metal
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 744403020120
- Lot Size: 11250 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2012
Tax Information
- Annual Tax: $29,461
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Volusia
Listing Details
Investment Summary
- Monthly Cash Flow
- -$15,506
- Cap Rate
- 0.8%
- Cash-on-Cash Return
- -23.2%
- Debt Coverage Ratio
- 0.13
- Internal Rate of Return (5 years)
- -18.4%
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:
| $3,490,750 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,792,600 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $698,150 |
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:
| $104,723 |
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:
| $802,873 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,653 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $750 |
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:
| $1.50 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,792,600 |
|---|---|
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:
| 6.625% |
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:
| $17,881 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $2,455 |
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:
| $490 |
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:
| $20,826 |
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:
| $7,000 | $84,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$420 | -$5,040 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $6,580 | $78,960 |
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. | 35% | -$2,455 | -$29,462 |
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% | -$490 | -$5,880 |
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% | -$560 | -$6,720 |
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% | -$350 | -$4,200 |
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% | -$350 | -$4,200 |
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 | 60% | -$4,205 | -$50,462 |
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:
| $2,375 | $28,500 |
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. | -$17,881 | -$214,572 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$15,506 | -$186,072 |