$598,900
Investment Summary
- Monthly Cash Flow
- -$1,758
- Cap Rate
- 2.6%
- Cash-on-Cash Return
- -15.3%
- Debt Coverage Ratio
- 0.43
- Internal Rate of Return (5 years)
- -10.8%
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
Welcome to Sunset Bay, an exclusive gated community in the heart of Tarpon Springs, where luxury meets tranquility. This carefully crafted three-story townhome is built with solid block and concrete construction, steel stud interior walls, ensuring durability, peace of mind and was NOT affected by the recent hurricanes. (NO water intrusion or wind damage). This meticulously maintained home offers a perfect blend of modern updates, smart-home features, concrete Mediterranean-style tile roof, a private elevator, and premium finishes throughout. Upon entering, you’ll find a beautifully finished oversized, 866 sq ft, 2+ car garage, providing ample space for vehicles, a golf cart, jet ski, or kayak/bicycle storage to support your active lifestyle. The garage also features a reinforced hurricane-braced door. Step outside to your ground-level patio, the perfect spot for grilling, entertaining or relaxing with a cold beverage. Inside, a private elevator and dark grey wood-look luxury vinyl flooring on the stairs and landings set the tone for the stylish updates that continue throughout the home. The heart of the home is on the second floor, where an open-concept living space is designed for comfort, functionality, and entertainment. Your guests will be impressed with the new grey wood-look porcelain tile flooring (commercial grade) flowing throughout, complementing the porcelain tile fireplace in the living room. The dining area is enhanced by a modern chandelier while the kitchen boasts granite countertops, an oversized island with seating, and stainless steel appliances. Smart-home features, including a Nest thermostat with two zones and a Ring doorbell, add convenience, efficiency, and security. Step outside onto the second floor screened-in patio, designed for dining and entertaining. This outdoor retreat features UV pull-down sun shades and an expandable privacy trellis hedge screen for added comfort and seclusion. The patio was rescreened with NOSEEUM mesh, ensuring a bug-free space to enjoy the Florida breeze. A charming guest bedroom with a window seat and a hall bathroom complete this level, making it ideal for visitors or extended family. The top floor is like a private retreat and is dedicated to peaceful relaxation, beginning with the primary suite—a true sanctuary featuring TWO generous walk-in closets. Enjoy your morning coffee on the private balcony overlooking two ponds, the Anclote River, with an abundance of birdlife. The spa-like en suite bathroom offers a jetted soaking tub, dual vanities, a walk-in shower, and a private toilet closet. For added convenience, the laundry room with a utility sink is located on this level, making household chores effortless. The 2nd bedroom on the 3rd floor features a Juliet Balcony, built in closet & en suite bathroom. Stay active by enjoying Sunset Bay’s amenities, including a heated community pool, hot tub clubhouse, gazebo, kayak launch and access to the open gulf. The HOA covers cable TV, internet, water, sewer, trash, exterior maintenance, roof, and landscaping, ensuring a maintenance-free lifestyle. Ideally located just minutes from Fred Howard Park, Sunset Beach, and the historic Tarpon Springs Sponge Docks, this pet-friendly townhome offers the perfect blend of comfort, luxury, and coastal living while staying HIGH & DRY. With its numerous upgrades, exceptional construction, and scenic surroundings, this townhome is a rare find in Tarpon Springs. Schedule your showing today!
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Location
Property Details
Parking
- Description: Garage
- Details: Driveway, Garage Door Opener, Golf Cart Garage, Other, Oversized, Attached
- 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 Rooms: 6
- # of Stories: 3
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Masonry
- Foundation: Block, Concrete Perimeter, Slab
- Roof Material: Concrete, Tile
HOA
- Has HOA: Yes
- Association: Innovative Management Solutions/Desiree Jenkins
- HOA Fee: $581/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Planned Unit Development
Lot Information
- Parcel ID: 032715873740000580
- Lot Size: 4116 sqft
Property Information
- Property Type: Townhouse
- Style: Mediterranean
- Year Built: 2006
Tax Information
- Annual Tax: $7,111
Utilities
- Water & Sewer: Public
- Heating: Electric, Natural Gas
- Cooling: Central Air
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,758
- Cap Rate
- 2.6%
- Cash-on-Cash Return
- -15.3%
- Debt Coverage Ratio
- 0.43
- Internal Rate of Return (5 years)
- -10.8%
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:
| $598,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$479,120 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $119,780 |
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:
| $17,967 |
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:
| $137,747 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,599 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $230 |
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:
| $1.39 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $479,120 |
|---|---|
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:
| $3,068 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $593 |
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:
| $252 |
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:
| $3,913 |
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:
| $3,600 | $43,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$216 | -$2,592 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,384 | $40,608 |
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. | 16% | -$593 | -$7,111 |
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% | -$252 | -$3,024 |
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% | -$288 | -$3,456 |
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% | -$180 | -$2,160 |
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% | -$180 | -$2,160 |
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. | 16% | -$581 | -$6,972 |
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 | 58% | -$2,074 | -$24,883 |
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:
| $1,310 | $15,720 |
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. | -$3,068 | -$36,816 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,758 | $21,096 |