$699,900
Investment Summary
- Monthly Cash Flow
- -$1,014
- Cap Rate
- 4.4%
- Cash-on-Cash Return
- -7.6%
- Debt Coverage Ratio
- 0.72
- Internal Rate of Return (5 years)
- -3.3%
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
THIS SOUTH GULF COVE WATERFRONT HOME HAS EVERYTHING YOU HAVE BEEN SEARCHING FOR! With approximately 133 feet of waterfront, a saltwater heated pool, private dock, and oversized lot, this 3-bedroom, 3-bath estate-sized home is packed with thoughtful features inside and out. Architectural columns, a side-entry two-car garage, and an extended driveway with plenty of parking add to the curb appeal. Step through the double leaded glass doors into a spacious, light-filled home featuring a split floor plan with consistent diagonal tile throughout. The open concept layout includes a living room, dining area, flex/office space, and a family room centered around the kitchen, making entertaining effortless. The kitchen is designed with abundant white cabinetry, granite countertops, a tumbled stone backsplash, breakfast bar, and upper display shelves, while the aquarium window in the dining nook offers beautiful views of the lanai and waterway. A tray ceiling and triple windows overlooking the water in the family room continue the airy feel, with sliding doors that provide easy pool access. The en-suite primary bedroom is private, featuring a tray ceiling, lanai access through sliders, a large walk-in closet, and a bathroom with dual granite-topped vanities, a Jacuzzi tub, and a tiled walk-in shower with glass partition wall and built-in bench. Two guest bedrooms offer generous space—one with a reach-in closet and another with a walk-in closet reinforced with block walls on two sides, complete with A/C and media hookups. The guest bath features a tiled tub/shower combo and an oversized granite vanity. A spacious interior laundry room has upper cabinets and a utility sink. Outside, the screened and pavered lanai features a pool with a water feature that will make it seem like you are on vacation everyday. A full pool bath with a walk-in shower adds convenience after a day on the water. Your private dock, complete with electric outlets, lights, and a 10,000 lb lift, is the perfect spot to relax with a cocktail and watch the boats go by. Offering the ultimate in luxury and convenience, the dock provides easy access to multiple waterfront dining options, sandbars, shelling, and world-class fishing. Additional features include a 2023 roof and front door, epoxy-coated garage floor, screened doors including the garage, RV parking pad with a 2024 installed 50-amp hookup, hurricane shutters, a hurricane-rated shed, designer ceiling fans and window treatments, 8' doors throughout, and roll-down lanai screens for sun protection. South Gulf Cove is a voluntary HOA community situated along the scenic waterways of Charlotte Harbor, offering canal access for boating and fishing, along with beautiful natural areas ideal for walking, birdwatching, and sunsets. This community also provides access to many amenities including two boat ramps, clubhouse, community garden, walking paths, playgrounds, and picnic spots perfect for relaxing or gathering with friends. Conveniently located near Historic Boca Grande with its white-sand beaches, shopping, and dining, take a boat ride to Punta Gorda and enjoy Fisherman’s Village or the unique island of Cabbage Key. You are also just a short drive to medical facilities, grocery stores, two major league baseball spring training facilities and more. This home offers the ultimate Florida lifestyle. Contact us today to schedule your appointment to see this beautiful home at 15674 Applewhite Circle, you will be glad you did!
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Location
Property Details
Parking
- Description: Covered, Driveway, Garage Door Opener, Garage Faces Side, Off Street, On Street
- Details: Boat, Driveway, Garage Door Opener, Parking Pad, RV Access/Parking, 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: 13
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Composition/Composite
- Foundation: Slab
- Roof Material: Shingle
- Pool: Yes
HOA
- Has HOA: Yes
- Association: South Gulf Cove HOA
- HOA Fee: $120/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 412127277020
- Lot Size: 13346 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2006
Tax Information
- Annual Tax: $6,283
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Charlotte
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,014
- Cap Rate
- 4.4%
- Cash-on-Cash Return
- -7.6%
- Debt Coverage Ratio
- 0.72
- Internal Rate of Return (5 years)
- -3.3%
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:
| $699,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$559,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $139,980 |
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:
| $20,997 |
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:
| $160,977 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,483 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $282 |
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:
| $1.81 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $559,920 |
|---|---|
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:
| $3,585 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $524 |
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:
| $315 |
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:
| $4,424 |
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:
| $4,500 | $54,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$270 | -$3,240 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,230 | $50,760 |
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. | 12% | -$524 | -$6,283 |
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% | -$315 | -$3,780 |
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% | -$360 | -$4,320 |
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% | -$225 | -$2,700 |
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% | -$225 | -$2,700 |
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. | 0% | -$10 | -$120 |
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 | 37% | -$1,659 | -$19,903 |
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:
| $2,571 | $30,852 |
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. | -$3,585 | -$43,020 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,014 | $12,168 |