$315,000
Investment Summary
- Monthly Cash Flow
- -$337
- Cap Rate
- 4.9%
- Cash-on-Cash Return
- -5.6%
- Debt Coverage Ratio
- 0.79
- Internal Rate of Return (5 years)
- -1.4%
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
Make sure to check out the Virtual Tour for a 3D Model w/ Walkthrough, Floor Plan w/ Measurements, Video, & more! Relaxed Florida Living Vibes... you got them all day and night at this peaceful canal front home just 500 feet from the open spring fed Lake Panasoffkee! This 2bedroom PLUS bonus room, 2bath home, with huge screened in back patio, built in 2000 (with a 2019 roof & 2023 AC!) spans 1,532sqft of living space, with 2,488sqft total under roof on a .24-acre lot. Before you even step through the front door, you’ll be greeted by a screened-in porch, ideal for enjoying your morning coffee (bug-free!) to start your day off right! Bright and breezy indoors thanks to an open floor plan with vaulted ceilings and plenty of double-pane tilt-in windows (makes cleaning easier than you’d expect), the living area comes pre-wired for surround sound... so go ahead and crank up the movie nights or weekend playlists! The kitchen offers an abundance of cabinets, generous counter space, a breakfast bar, and even a dedicated coffee station - plus, it flows effortlessly into the dining area for easy entertaining and everyday convenience! The spacious primary suite has an ensuite bathroom with a garden tub and separate shower for a touch of everyday luxury. It also offers its own French door access to the massive screened-in cedar porch which practically doubles your living space and comes ready with speakers, a ceiling fan breeze, and views worth staying up late for. The second bedroom is on the opposite side of the home from the primary suite giving that true split floor plan, providing added privacy for guests or family. It’s a comfortable and functional space that feels just removed enough without being out of the way. Need extra space? No problem! This canal-front gem includes a bonus room that’s ready for whatever you need - office, guest space, or hobby hideaway! Another bonus incoming... NO carpet here! Just clean, low-maintenance flooring throughout (Living Room, Dining Area & Primary Bedroom new flooring 2024), plus an inside laundry room, alarm system, generator hookup, and a large extended two-car garage complete with a work table and built-in cabinets, perfect for weekend projects and extra storage. The backyard is perfect for pets, people, or planting your Florida favorites, featuring a beautifully landscaped yard with several well manicured flowering trees, wood-fenced space that offers a serene view of the canal (and quick access down the stairs in your back yard), making it your retreat to relax, entertain, or simply enjoy the surroundings! Just minutes from your doorstep, enjoy easy access to Lake Panasoffkee Fishing Pier, Panasoffkee Airboat Tours, and the family-friendly Cooter’s Pond Park. Outdoor lovers will appreciate nearby Withlacoochee State Forest for hiking and wildlife viewing. Whether you're downsizing, rightsizing, or you just want more serenity in your life... this home balances comfort, charm, and access to everything central Florida has to offer. Canal views / access... cedar porch vibes... Yes, please! Schedule your private showing today before someone else snags your seat on porch!
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Location
Property Details
Parking
- Description: Mixed
- Details: Covered, Driveway, Garage Door Opener, Off Street, On Street, Workshop in Garage, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 2
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 11
- # of Stories: 1
Exterior Features
- Foundation: Slab
- Roof Material: Shingle
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential (Assumed)
Lot Information
- Parcel ID: F32U021
- Lot Size: 10454 sqft
Property Information
- Property Type: Single Family Residence
- Style: Contemporary, Ranch
- Year Built: 2000
Tax Information
- Annual Tax: $1,237
Utilities
- Water & Sewer: Public
- Heating: Central, Electric, Heat Pump
- Cooling: Central Air
Location
- County: Sumter
Listing Details
Investment Summary
- Monthly Cash Flow
- -$337
- Cap Rate
- 4.9%
- Cash-on-Cash Return
- -5.6%
- Debt Coverage Ratio
- 0.79
- Internal Rate of Return (5 years)
- -1.4%
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:
| $315,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$252,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $63,000 |
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:
| $9,450 |
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:
| $72,450 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,532 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $206 |
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:
| $1.31 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $252,000 |
|---|---|
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:
| $1,614 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $103 |
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:
| $140 |
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:
| $1,857 |
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:
| $2,000 | $24,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$120 | -$1,440 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $1,880 | $22,560 |
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. | 5% | -$103 | -$1,237 |
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% | -$140 | -$1,680 |
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% | -$160 | -$1,920 |
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% | -$100 | -$1,200 |
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% | -$100 | -$1,200 |
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 | 30% | -$603 | -$7,237 |
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:
| $1,277 | $15,324 |
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. | -$1,614 | -$19,368 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $337 | $4,044 |