$679,900
Investment Summary
- Monthly Cash Flow
- -$1,924
- Cap Rate
- 2.9%
- Cash-on-Cash Return
- -14.8%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -10.3%
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
*HERON CREEK GOLF & CC* Executive Series Estate Home 4 BED/3 BATH/ + FLEX ROOM / 3 CAR GAR & Saltwater POOL! *NEW ROOF* *GENERAC whole house GENERATOR*, *HURRICANE SHUTTERS* *NEW LANAI screening* and So much more! This desirable Ryland built home boasts over 2700 sq ft of living space and is perfectly suited to easy laid-back living and entertaining alike. This homes curb appeal is off the charts! Check out the handsome pavered driveway, the stack stone front accents, the multi-dimensional roof line with corbel detail and don’t forget the NEW barrel tile roof completing the quintessential Spanish Mediterranean design. Majestic palms and exotic blooms grace the well-manicured grounds and align the front walkway. Walk through the stunning etched glass entry door and embrace the refreshing sparkle of "CASA FELIZ" a casually elegant happy home! The popular Sage floor plan flows seamlessly from room to room and features high ceilings, large windows and cascading sliding glass doors that leave the whole house awash in an abundance of natural light. The Family room, Flex room, Kitchen & Master bedroom all open out to sparking pool and expansive lanai at the heart of the home. The desirable split floor plan offers a spacious Primary w/, sitting room, double walk-in closets & spa-like ensuite bath, 2 guest bedrooms w/ adjacent bath & 4th bedroom & convenient POOL BATH! Interior appointments include ceramic tile flooring in living areas, a calming neutral color palette w/delightful pops of color in the kitchen, bedroom & baths, Double tray ceilings w/crown molding, tall arched doorways & niches, & custom lighting, fans & window treatments throughout. Calling all Foodies! The gourmet kitchen is a dream come true and features rich wood cabinetry, SS appliances, a NATURAL GAS range, plenty of workspace on the sleek granite counters, a versatile center island, double door closet pantry and a great Butler’s Bar. The kitchen is centrally located open to the family room, adjacent dinette and lanai and has easy access to the designated dining area at the front of the home. The fabulous expansive paver lanai & saltwater pool overlooking the tranquil preserve creates your own backyard oasis where you can sit back and relax after a long day enjoying all paradise has to offer. Whether you are sipping a fruity frozen drink poolside or floating with friends & family here you’ll feel like you are on vacation every day! The list of bonus upgrades is long but includes a coveted 3-Car garage with room for your golf cart & toys, a whole house water softener, kitchen RO water filter and New SOLAR panels for pool heat, This home READY FOR IMMEDIATE OCCUPANCY! So don't worry Be Happy.... "Casa Feliz" is ready to welcome you home!! Heron Creek offers exceptional amenities including a 21,000 sq ft clubhouse, 27 holes of Championship golf Arthur Hills design, resort style pool & spa, a robust social activity calendar, fitness center, Tennis courts & formal & casual dining options! Club Membership is required with 3 membership levels offered beginning at $268/month *NO CDD FEES * LOW HOA FEES include lawn care, trimmings, mulching, irrigation, FIBER OPTIC/ TV/ HIGH-SPEED INTERNET & Gated entry, conveniently located w/easy access to I-75 & US-41, Cocoa Plum Shopping ,Myakkahatchee Creek trails, WELLEN PARK, Braves Stadium, COSTCO & will be just 3 miles to the new 450 Million SMH Hospital Coming to I-75 and Sumter Blvd! FLOOD ZONE X (lenders won't require flood insurance)
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Location
Property Details
Parking
- Description: Attached Garage
- Details: Driveway, Garage Door Opener, Golf Cart Garage, Oversized, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 10
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Hip
- Roof Material: Tile
- Pool: Yes
HOA
- Has HOA: Yes
- Association: TARA HINZE
- HOA Fee: $1,225/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0977040697
- Lot Size: 8888 sqft
Property Information
- Property Type: Single Family Residence
- Style: Florida
- Year Built: 2005
Tax Information
- Annual Tax: $7,758
Utilities
- Water & Sewer: Public
- Heating: Central, Heat Pump
- Cooling: Central Air
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,924
- Cap Rate
- 2.9%
- Cash-on-Cash Return
- -14.8%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -10.3%
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:
| $679,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$543,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $135,980 |
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:
| $20,397 |
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:
| $156,377 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,714 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $251 |
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:
| $1.44 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $543,920 |
|---|---|
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:
| $3,560 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $647 |
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:
| $273 |
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:
| $4,480 |
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:
| $3,900 | $46,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$234 | -$2,808 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,666 | $43,992 |
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. | 17% | -$647 | -$7,758 |
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% | -$273 | -$3,276 |
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% | -$312 | -$3,744 |
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% | -$195 | -$2,340 |
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% | -$195 | -$2,340 |
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. | 10% | -$408 | -$4,896 |
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 | 52% | -$2,030 | -$24,354 |
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:
| $1,636 | $19,632 |
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. | -$3,560 | -$42,720 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,924 | $23,088 |