$589,000
Investment Summary
- Monthly Cash Flow
- -$1,326
- Cap Rate
- 3.4%
- Cash-on-Cash Return
- -11.7%
- Debt Coverage Ratio
- 0.56
- Internal Rate of Return (5 years)
- -7.4%
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
Check out this Incredible 5 Bedroom, 3 Bathroom 3+ Car Garage with over 4,500 Square Feet under roof is Ready for You & Your Family with a Separate In-Law Suite with Private Entrance!! This Luxurious Open Concept Home with Split Plan 3/2 Home has an Attached but Separate In-Law Suite with 2 Bedrooms, 1 Handicap Accessible Bathroom and includes Full Kitchen, Additional Laundry Room, Family Room & Private Entrance!! This Royal Highlands Custom Built Home sits on a Gorgeous Lot of over a 1/2 acre and includes a 400 Sq Ft 2-Story Workshop/Garage, RV/Boat Parking, Security Lighting, Fully fenced with a Dog Run and Additional Dual Gates (10’ & 15’) and so much more! As you enter the Main Home, you have a Separate Dining room Plus and a Separate Office that can be used as a Media Room or Bedroom and more. The Huge Living Room is fully open to the Kitchen & Dining area and a great view of your HEATED 28 x16 SPORTS POOL with depths of over 6 Feet!! Check out the Chef Inspired Kitchen with Endless Counterspace and mini Butler Pantry in the Inside Laundry Area. Enjoy many of Holidays with Family & Friends in this beautifully laid-out Kitchen and eat in Dinette Area or step around the corner to your private Dining room. Off the Kitchen is pure Royalty with your Primary Master Suite. Enjoy Your Private Bedroom & Bathroom with a stunning Ensuite and Custom-Made Closet Designs in your Spa Like Retreat!! This home has Endless Storage and many High-End Custom-Built Closet Organizers & Shelving Units throughout!! Bedrooms #2 & #3 are on the other side of the Home and are Very Large with more Walk In Closets with Custom Built-Ins. Inside Laundry Room and more storage completes the Main part of the Home. Attached to the Main Home is this Incredible In-Law Suite custom Built with Everything! Your Outdoor Oversized, Heated Sports Pool Retreat Area is designed with Custom Pavers, Screened Enclosure, 2 Separate Areas to Entertain, great for Grilling & Relaxing. The backdoor opens up to the yard Family S’more-Kind of night Fire Pit area for relaxing under the Stars!! No neighbors to the left and land in the back owned by Swiftmud, So Much Privacy abounds with this Home!! Well has a storage protection unit built over it to protect it from the Florida Sun & Elements. Home also has hurricane shutters for all the windows for the home. With only a 10 Minute drive to Weeki Spring Springs State Park, Buccaneer Bay, Pine Island, Hernando Beach, this ideal property can also be used as income producing. With the main Home having its own entrance, the Homeowner can AIRBNB & VRBO the 2/1 In-law suite Endless Income Potential. Hernando County is one of the Top & Most Unique areas of Florida with Fresh, Salt & Brackish Waters, to Blue Springs, Rivers and Gulf of America areas… Perfect for the Boating/Fishing/Swimming/Kayaking Enthusiasts. Enjoy top Hiking & Biking areas, best of Medical & Shopping Facilities, Award Winning Dining & Wineries/Breweries and quick access to International Airports, Shopping, and other facilities, this home is a Game Changer offering something for everyone!! Hurry & schedule your showing today!! It will go fast with these unique features not found on any other current listing on the market in the area!! Multi-Generational Living or Income Producing with NO HOAs, CDDs or NO DEED RESTRICTIONS!!
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Location
Property Details
Parking
- Description: Garage
- Details: Boat, Covered, Garage Door Opener, Oversized, Parking Pad, RV Access/Parking, Garage, Workshop in Garage, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 15
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Shingle
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: R0122117336007580020
- Lot Size: 22269 sqft
Property Information
- Property Type: Single Family Residence
- Style: Ranch
- Year Built: 2007
Tax Information
- Annual Tax: $2,892
Utilities
- Water & Sewer: None
- Heating: Central
- Cooling: Central Air
Location
- County: Hernando
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,326
- Cap Rate
- 3.4%
- Cash-on-Cash Return
- -11.7%
- Debt Coverage Ratio
- 0.56
- Internal Rate of Return (5 years)
- -7.4%
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:
| $589,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$471,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $117,800 |
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:
| $17,670 |
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:
| $135,470 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,107 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $190 |
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:
| $0.90 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $471,200 |
|---|---|
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:
| 6.625% |
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:
| $3,017 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $241 |
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:
| $3,454 |
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. | 9% | -$241 | -$2,892 |
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. | 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 | 34% | -$941 | -$11,292 |
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:
| $1,691 | $20,292 |
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. | -$3,017 | -$36,204 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$1,326 | -$15,912 |