$419,000
Investment Summary
- Monthly Cash Flow
- -$914
- Cap Rate
- 3.6%
- Cash-on-Cash Return
- -11.4%
- Debt Coverage Ratio
- 0.58
- Internal Rate of Return (5 years)
- -7.0%
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
DEAL ALERT!! AMAZING LAKE + SUNSET VIEWS and MANY, MANY UPGRADES!! Gorgeous Venice model by Lennar, feat. 3 bedrooms, 3 bathrooms and a 2-car garage, on PRIME LAKE VIEW LOT in the beautiful, resort-style community of Portico in Fort Myers. Conveniently located in Portico Phase 1. WHY WAIT TO BUILD WHEN THIS IMMACULATE, HEAVILY UPGRADED HOME CAN BE YOURS NOW? If you added all the upgrades that this home has to the base price of a New Construction Venice model that is being offered in this community (or elsewhere), you would arrive at a MUCH higher price than the asking price for this property!! Welcome to this modern Smart Home that comes with all the bells and whistles! Owner upgrades include entertainment wall unit with surround sound and electric fireplace in living room, custom walk-in closet with cabinets in owner’s suite, plantation style shutters, porcelain flooring in master bedroom, bamboo flooring in other bedrooms, multiple custom-made shelves and cabinets, extended driveway, custom paver pathway and additional patio section in backyard, hurricane screens w/remote on lanai, solar panels + more. Open floorplan provides lots of space for family living and entertaining. Tall glass sliding doors in living room, for lots of natural light. Gourmet kitchen, granite island w/bar, stainless steel appliances & custom-built pantry. Spacious master suite w/two walk-in closets and master bathroom with luxurious custom walk-in shower feat. multiple shower heads + handrails, two benches and further conveniences for vertically challenged owners or guests (value of custom walk-in shower is over $30k). Embrace a laid-back Florida lifestyle on the covered + screened-in lanai, perfect for cozy outdoor relaxing. Or step into the beautiful backyard, feat. a lanai extension, lush landscaping w/lights and a pathway to another sitting area that overlooks the whole lake, perfect for enjoying stunning lake + nature views. Whether you're sipping your morning coffee, soaking up the endless Florida sunshine or hosting a dinner for friends, the tranquil lake backdrop adds a touch of natural beauty to your everyday life. And for those who’d prefer a private pool, that would be easy to add, since there is plenty of space on this dream lot! THIS GEM HAS IT ALL! Don’t miss this great buying opportunity with so much value already included! NO FLOOD INSURANCE REQUIRED! PORTICO is a highly sought-after access-controlled community w/Low HOA fees, surrounded by the natural beauty of SW Florida. Residents enjoy resort-style amenities, including a clubhouse, community pool, gym, yoga/exercise room, tennis, pickleball, basketball + play area. Pets, Fences & LSVs permitted! Great location, short drive to I-75, shopping, dining & more!
Build Your Team
Quickly find investor-friendly professionals who can help you succeed in real estate investing at any stage of the investing journey.
Agents
Match with investor-friendly agents who can help you find, analyze, and close your next deal
Lenders
Get the best funding…find investor-friendly lenders who specialize in your deal strategy
Property Managers
Transition to passive investing. Find a trusted property management partnership that lasts.
Tax Pros & Accountants
Taxes and financial reporting made easy—find experts to create tax savings strategies, file taxes, and more
Location
Property Details
Parking
- Description: Attached, Driveway, Garage, GolfCartGarage, Guest, Paved, TwoSpaces, GarageDoorOpener
- Details: Attached, Driveway, Garage, Golf Cart Garage, Guest, Paved, Garage Door Opener
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Roof Type: Hip
- Roof Material: Shingle
- Pool Community: Yes
- Solar Panels: Yes
HOA
- Has HOA: Yes
- HOA Fee: $586/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 3343260100000.3660
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Ranch, One Story
- Year Built: 2018
Tax Information
- Annual Tax: $5,565
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air, Ceiling Fan(s), Electric
Location
- County: Lee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$914
- Cap Rate
- 3.6%
- Cash-on-Cash Return
- -11.4%
- Debt Coverage Ratio
- 0.58
- Internal Rate of Return (5 years)
- -7.0%
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:
| $419,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$335,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $83,800 |
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:
| $12,570 |
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:
| $96,370 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,852 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $226 |
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:
| $1.51 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $335,200 |
|---|---|
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:
| 6.810% |
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:
| $2,187 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $464 |
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:
| $196 |
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:
| $2,847 |
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:
| $2,800 | $33,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$168 | -$2,016 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,632 | $31,584 |
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% | -$464 | -$5,565 |
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% | -$196 | -$2,352 |
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% | -$224 | -$2,688 |
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% | -$140 | -$1,680 |
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% | -$140 | -$1,680 |
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. | 7% | -$195 | -$2,340 |
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 | 49% | -$1,359 | -$16,305 |
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:
| $1,273 | $15,276 |
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. | -$2,187 | -$26,244 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $914 | $10,968 |