$795,000
Investment Summary
- Monthly Cash Flow
- -$863
- Cap Rate
- 4.8%
- Cash-on-Cash Return
- -5.7%
- Debt Coverage Ratio
- 0.79
- Internal Rate of Return (5 years)
- -1.5%
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
Join the Ponderosa Shores renaissance. This home is an open canvas to renovate as you please, or join your next-door neighbors and raze the home and build your waterfront dream home on this spectacular waterfront lot that has a newer 81’ seawall with 3’ cap, 300 sf custom dock with two boat lifts, and room for a pool. This home is just a short drive to vibrant downtown St. Pete, a 10-minute idle to Tampa Bay and only a few paddle strokes to protected Placido Bayou Mangrove Preserve where you can explore the mangrove trails by kayak or paddle board. Watch dolphins and manatees swim around and under your dock while you enjoy the sun set behind the mangrove preserve. The newer 40th Avenue bridge has a 13.2’ vertical clearance at mean hightide to accommodate most non-flybridge vessels. This beautiful waterfront home flooded during Hurricane Helene and was fully remediated with 4’ drywall cuts throughout the entire home. All flooring with the exception of the two bathrooms was removed and is currently bare concrete slab floors. Until Hurricane Helene in September, 2024 this home had never flooded since its construction in 1972. Protected waterfront with superior all-block construction; 3 bedrooms, 2 bathrooms with open concept, split floor plan;1,789 heated sq/ft, 2,535 total square feet; 2-car garage with hurricane impact garage door and Smart Home garage door opener, paddle board and fishing rod storage; Lot size: 7,797 sq/ft (0.17 acres MOL. 81’ wide x 102’ deep MOL); Smart Home features Vivint security/fire alarm system; 81' newer seawall with 3’ cap (Gulf Coast Marine Construction); Two Lifts: 10,000 lb boat lift and 4,500 lb double jet ski/boat lift; Large Custom Dock: 300 sq/ft (25’ x 12’ w/ 3’ step down platform for easy launching of kayaks and paddleboards) with superior Azek composite cool decking with wrap around trim, high density polyethylene wrapped dock pilings, electric and water; Expansive outdoor deck: 660 sq/ft; 8-person hot tub (hot tub damaged by flooding); Roof: 2012 – GAF Timberline 30-year upgraded shingle with roof membrane (assumable warranty) and updated soffits and facia (no damage experienced from hurricanes); Newer HVAC 2021: Trane, 16 Seer (4 ton) Heat Pump with UV Light system for improved air quality. Warranty: 10-year warranty for Compressor (Compressor damaged by flooding); 10 years coil; 10 years parts; 22kw Whole House Generac Generator (2022) with transferable warranty (Negotiable with sale of home); Designer lighting throughout; Windows: updated (sliding doors and some windows damaged by flooding); Ceiling fans throughout; Covered Lanai and entrance way improved with hand-stained wood slats on ceiling; Exterior painted: 2022; New Samsung washer and dryer, front loading – 2024 (Never used. Washer might be damaged by flooding); Water main line replaced (2006); Additional and plentiful attic storage with high pitched roof; Expanded paver driveway with 3-car parking; Irrigation system (reclaimed water) and upgraded gutter/drainage system; Windster stainless steel vent hood in kitchen; Skylight (upgraded tempered glass); LED recessed ceiling lighting; Neighborhood has all underground utilities including cable, natural gas and electric (no unsightly power poles and power lines); Primary Bedroom and Ensuite Bath: Overlooking water and adjacent to back lanai; Walk-in closet; Separate water closet; Dual shower heads plus rain shower head; and Dual Vanity Plumbing; Guest bath: Dual Vanity Plumbing
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Location
Property Details
Parking
- Description: Garage
- Details: Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 6
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Shingle
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 043117725760020170
- Lot Size: 7797 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 1972
Tax Information
- Annual Tax: $14,477
Utilities
- Water & Sewer: Public
- Heating: Heat Pump, Natural Gas
- Cooling: Central Air
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$863
- Cap Rate
- 4.8%
- Cash-on-Cash Return
- -5.7%
- Debt Coverage Ratio
- 0.79
- Internal Rate of Return (5 years)
- -1.5%
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:
| $795,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$636,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $159,000 |
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:
| $23,850 |
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:
| $182,850 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,789 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $444 |
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:
| $3.58 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $636,000 |
|---|---|
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:
| $4,072 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,207 |
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:
| $448 |
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:
| $5,727 |
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:
| $6,400 | $76,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$384 | -$4,608 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $6,016 | $72,192 |
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. | 19% | -$1,207 | -$14,478 |
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% | -$448 | -$5,376 |
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% | -$512 | -$6,144 |
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% | -$320 | -$3,840 |
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% | -$320 | -$3,840 |
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 | 44% | -$2,807 | -$33,678 |
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:
| $3,209 | $38,508 |
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. | -$4,072 | -$48,864 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$863 | -$10,356 |