$1,288,888
Investment Summary
- Monthly Cash Flow
- -$2,096
- Cap Rate
- 4.2%
- Cash-on-Cash Return
- -8.5%
- Debt Coverage Ratio
- 0.68
- Internal Rate of Return (5 years)
- -4.2%
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
Step into ‘Old Florida’ with this fully restored historic farmhouse on 8 acres in rural Myakka City. Originally built in 1941 by Clint and Eva Hutches, both former Manatee County Sheriffs, this authentic log home is steeped in history and charm. Restored by French designer, Gaëlle Wizenberg, this home has been beautifully reimagined while preserving its original, historic character. If you've ever dreamed of living ‘off the grid’, becoming fully sustainable, and growing your own food, while still being within close proximity to modern conveniences such as shopping & dining found at Lakewood Ranch or the stunning beaches of Lido & Siesta Key, your dream is now a reality. The restoration of this home included extensive updates such as a new metal roof, AC units, plumbing, tankless water heater, well equipment, and a top-of-the-line solar system with batteries, which powers the entire property. As you approach the property, you'll be greeted by the awe-inspiring beauty of the home and its surroundings. The soaring vaulted ceilings and exposed beams reflect the beautiful, rustic heritage of Florida’s cattle ranching era. The rich, warm tones of cedar and tidewater pecky cypress wood create an inviting, natural atmosphere. The centerpiece of the home is an impressive brick fireplace, while the floors feature original pine and ash wood. For the culinary enthusiast, the farmhouse boasts two kitchens: a spacious prep kitchen with ample pantry storage, and a chef's kitchen designed to impress. Features include a state-of-the-art porcelain island, black cabinetry accented with gold hardware, thick butcher block countertops, and high-end appliances such as a Bertazzoni 6-burner gas stove, Fisher & Paykel double-drawer dishwasher, and a large double-door fridge/freezer. The kitchen offers a direct view of the thriving vegetable garden and fruit tree grove. The home features a new, fully screened front porch, perfect for relaxing while enjoying the shade of a majestic Grand Oak in the front yard. The property is a true retreat, having served as a yoga and wellness center, as well as an educational hub for students interested in organic and regenerative farming practices. The property has a thriving “food forest” with a wide variety of vegetables, herbs, and fruit trees, including cabbage, arugula, tomatoes, cucumbers, kale, citrus, papaya, mango, avocados, and much more. A true homesteader’s dream, this property also has multiple chicken coops and even a rabbit hutch. The property also includes a charming cabin, also built in 1941, that has a full bathroom and kitchenette; ideal for use as a guest suite or office. There are 2 large pole barns that provide ample storage and could easily be converted into horse stables. Located on a quiet, dead-end road, the property offers privacy and tranquility. It backs up to the 4,500-acre Blackbeard Ranch and is just minutes from Terra Nova Equestrian Center, making it ideal for horse lovers and equestrian pursuits. Additional amenities are on the horizon, including the new Miakka Golf Club just 2 miles away, and the vibrant communities of Waterside and Lakewood Ranch are just a 30-minute drive. Mineral rights convey with the 3 parcels. Bitcoin is accepted for purchase of this property.
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Location
Property Details
Parking
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 2
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 3
- # of Stories: 2
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood
- Roof Type: Gable or Hip
- Roof Material: Metal
- Solar Panels: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 2398.12109
- Lot Size: 350222 sqft
Property Information
- Property Type: Single Family Residence
- Style: Cabin
- Year Built: 1940
Tax Information
- Annual Tax: $6,376
Utilities
- Water & Sewer: Private, Well
- Heating: Ductless
- Cooling: Ductless
Location
- County: Manatee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,096
- Cap Rate
- 4.2%
- Cash-on-Cash Return
- -8.5%
- Debt Coverage Ratio
- 0.68
- Internal Rate of Return (5 years)
- -4.2%
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:
| $1,288,888 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,031,110 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $257,778 |
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:
| $38,667 |
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:
| $296,445 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,070 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $420 |
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:
| $2.38 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,031,110 |
|---|---|
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:
| $6,602 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $531 |
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:
| $511 |
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:
| $7,644 |
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:
| $7,300 | $87,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$438 | -$5,256 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $6,862 | $82,344 |
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. | 7% | -$531 | -$6,376 |
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% | -$511 | -$6,132 |
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% | -$584 | -$7,008 |
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% | -$365 | -$4,380 |
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% | -$365 | -$4,380 |
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 | 32% | -$2,356 | -$28,276 |
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:
| $4,506 | $54,072 |
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. | -$6,602 | -$79,224 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$2,096 | -$25,152 |