$3,299,000
Investment Summary
- Monthly Cash Flow
- -$14,003
- Cap Rate
- 1.1%
- Cash-on-Cash Return
- -22.1%
- Debt Coverage Ratio
- 0.17
- Internal Rate of Return (5 years)
- -17.4%
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
Just imagine you are entering your private villa on one of the secluded coves of Lake Como, yet you are in The Lake Club Phase I where each home offers a unique architectural style. Here you will find a variety of architectures from Tuscan to Georgian to Key West to Contemporary including custom reflecting the distinct and distinguishing imagination of builder and homeowner. Now Enter into your John Cannon exceptional and meticulously cared for 4-bedroom 3 bath lake front home on over 1/2 acre with outstanding curb appeal. This home has been renovated and upgraded to meet the requirements of today’s discerning homeowner. The open floor plan is perfect for entertaining family and friends, yet the layout affords privacy for both homeowner and guests with a separate en suite bath in the casita style front bedroom with a separate entrance. The 3rd & 4th bedrooms share a full bath in rear of home with easy access to the spacious outdoor living area, outdoor kitchen and water featured pool and spa, all complemented by the expansive lake and preserve views. For the homeowner entertaining is made easy with the generously appointed kitchen which becomes the center of activity in the home. Your gourmet center comes with appliances from Wolf including SS 6 burner cooktop, SS convection MW, wall oven and DW, Sub-Zero built-in refrigerator, ample floor to ceiling wood cabinets and an oversized center island with waterfall ends, built in wine refrig, quartz countertops and can accommodate bar seating. This center provides seamless access to Family, Dining and Living rooms making it a delight to entertain. The home features are just endless and include featured high ceilings, ample crown and trim, electric fireplace in Living Room, arched solid wood speakeasy like front door, whole house gas generator, multi zone separate A/C systems, 3 car oversized air-conditioned side entry garage all on a lushly landscaped lot with mature trees. Wait there is much more like engineered hardwood flooring throughout, glass sliders with disappearing corner, stone wall has built in 80" television on a power adjustable mount and electric fireplace in Family Room. For the homeowner after a full day of entertaining or just relaxing by the pool, a retreat awaits in the primary bedroom with 2 walk-in closets, separate coat closets, a completely upgraded primary bathroom with separate vanities and generous state of the art lighting. Top all this off with a separate Den/Office off the primary bedroom affording maximum privacy for either relaxing or conducting business. For the more infrastructure conscious there is a water softener, water filtration system, tankless hot water system, recently painted exterior and newly screened lanai. Every corner of home both inside and out has been touched over the last few years making it like new. Don't miss out in being a resident at The Lake Cub Phase I, one of the most sought-after communities in Lakewood Ranch where the amenities include tennis, pickleball, resort style pools, fabulous dining at Clubhouse, dog park, playground and more. Optional membership in Lakewood Ranch Country Club with 4 golf courses is only a golf cart trip away. Shopping and dining options are numerous only a short drive to UTC Mall and downtown Sarasota, and some of the best beaches on the Gulf of America, come live the dream today!!!
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Location
Property Details
Parking
- Description: Garage
- Details: Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 7
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Tile
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Samara Williamson
- HOA Fee: $8,663/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 5888.08359
- Lot Size: 25639 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2008
Tax Information
- Annual Tax: $41,035
Utilities
- Water & Sewer: Public
- Heating: Central, Heat Pump
- Cooling: Central Air, Ductless, Zoned
Location
- County: Manatee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$14,003
- Cap Rate
- 1.1%
- Cash-on-Cash Return
- -22.1%
- Debt Coverage Ratio
- 0.17
- Internal Rate of Return (5 years)
- -17.4%
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:
| $3,299,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,639,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $659,800 |
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:
| $98,970 |
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:
| $758,770 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,978 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $829 |
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:
| $2.56 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,639,200 |
|---|---|
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:
| $16,899 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $3,420 |
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:
| $714 |
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:
| $21,033 |
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:
| $10,200 | $122,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$612 | -$7,344 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $9,588 | $115,056 |
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. | 34% | -$3,420 | -$41,035 |
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% | -$714 | -$8,568 |
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% | -$816 | -$9,792 |
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% | -$510 | -$6,120 |
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% | -$510 | -$6,120 |
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. | 7% | -$722 | -$8,664 |
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 | 66% | -$6,692 | -$80,299 |
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:
| $2,896 | $34,752 |
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. | -$16,899 | -$202,788 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $14,003 | $168,036 |