$2,350,000
Investment Summary
- Monthly Cash Flow
- -$6,233
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -13.8%
- Debt Coverage Ratio
- 0.48
- Internal Rate of Return (5 years)
- -9.4%
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
PRIME LOCATION! Presenting this stunning, Key West Style, waterfront home on the desired Lagoon in South Gulf Cove, located minutes from Charlotte Harbor. The front staircase leads to a covered balcony with w/ Wi-Fi lighting and sound. The main entry doors have a retractable screen so you can open the doors to enjoy the perfect day bug free! Have groceries? Take the elevator! Step into the great room ahead with 20 ft of stacking sliders giving you an expansive view of the Lagoon and the preserve to relax and watch wildlife, sailboats and the stunning sunrises. The custom-built entertainment wall boasts a tv niche large enough for an 82” tv, and shadow boxes to display your taste of style. On those rare cold nights, snuggle up with the electric fireplace and turn on the surround sound for an epic movie night. The kitchen is highlighted with quartz countertops, subway tile backsplash featuring an oversized counter height island, cabinetry with under cabinet lights, 2 separate sinks, Frigidaire Professional appliances; cooktop, double wall ovens, standup refrigerator and standup freezer with trim kit, microwave/air fryer, and 2 dishwashers. Also, a full-sized wine fridge and a walk-in pantry. With an adjacent built-in exterior bar area and access to the balcony through stacking sliders, hosting game day is a breeze with the outdoor bar with cabinets, granite countertops, equipped with tv’s, beverage coolers, and ice maker. The retractable motorized screens allow for either clear views or insect protection, depending on the time of day. The upper level boasts 2 separate en suites with walk-in closets, one with a walk-in shower, the other with a tub/shower. The 3rd guest room provides enough space for a King bed and walk-in closet and a privately shared bathroom. The primary en suite offers separate walk-in closets, separate vanities, walk-in shower, and private water closet. Also utilize a half-walled space used for your liking. The lower level provides additional rooms with mini split ac’s, one is used as a gym with sauna and the other room is equipped with kitchen amenities, closet and enough room for a bed and furniture along with an attached full pool bath. With the lower levels generous size, there is an interior breezeway with access to the pool and garages, and equipped with water hookup. Along with a storage area under the interior staircase, there is a large separate storage room on this level. The lanai consists of a Pebble Tec saltwater pool, a heater and an easy-to-use Wi-Fi control system. Enjoy a built-in bench, a sun shelf, a relaxing spa with waterfall, and Travertine decking. Take a break from the pool, have a seat at the bar or in the covered lounge area and enjoy the peaceful sounds of the water fountain wall. A Control 4 sound system is installed throughout the home as well as the beautifully landscaped yard with palm trees and a sandy beach area overlooking the Lagoon. If boating is more your style, then stroll down to the private dock with 3 lifts; an 8k lb covered boat lift, a 25k lb boat lift and a manual lift for a small boat. Other amenities include an AI Security Camera system, a 400-amp service, hook up for backup generator, 3 zone ac system, PGT insulated low-e impact glass, HardiBoard siding, standing seam metal roof, spray foam insulation, hot water recirculation system, and a bug system. Whether you want to explore the scenic canals or boat to dinner or sail into the Gulf, the possibilities are endless!
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: Circular Driveway, Covered, Driveway, Garage Door Opener, Ground Level, Guest, Off Street, On Street, Oversized, Split Garage, Under Building
- Details: Circular Driveway, Covered, Driveway, Garage Door Opener, Guest, Off Street, On Street, Oversized, Garage, Basement, Attached
- Garage Spaces: 4
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Total): 5.0
Interior Features
- # of Rooms: 8
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Material: Metal
- Pool: Yes
HOA
- Has HOA: Yes
- Association: South Gulf Cove
- HOA Fee: $60/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 412123154021
- Lot Size: 10016 sqft
Property Information
- Property Type: Single Family Residence
- Style: Custom, Florida, Key West
- Year Built: 2020
Tax Information
- Annual Tax: $12,257
Utilities
- Water & Sewer: Public
- Heating: Electric, Exhaust Fan, Zoned
- Cooling: Central Air, Ductless
Location
- County: Charlotte
Listing Details
Investment Summary
- Monthly Cash Flow
- -$6,233
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -13.8%
- Debt Coverage Ratio
- 0.48
- Internal Rate of Return (5 years)
- -9.4%
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:
| $2,350,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,880,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $470,000 |
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:
| $70,500 |
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:
| $540,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,952 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $796 |
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:
| $3.35 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,880,000 |
|---|---|
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:
| $12,038 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,021 |
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:
| $693 |
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:
| $13,752 |
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:
| $9,900 | $118,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$594 | -$7,128 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $9,306 | $111,672 |
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. | 10% | -$1,021 | -$12,257 |
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% | -$693 | -$8,316 |
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% | -$792 | -$9,504 |
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% | -$495 | -$5,940 |
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% | -$495 | -$5,940 |
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% | -$5 | -$60 |
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 | 35% | -$3,501 | -$42,017 |
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:
| $5,805 | $69,660 |
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. | -$12,038 | -$144,456 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $6,233 | $74,796 |