$625,000
Investment Summary
We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$1,074
- Cap Rate
- 4.1%
- Cash-on-Cash Return
- -9.0%
- Debt Coverage Ratio
- 0.66
- Internal Rate of Return (5 years)
- -4.7%
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
***AMAZING Price Improvement***Live Your Waterfront Dreams in this Immaculate Waterfront Condo Located in The Strand of Sarasota. As you walk inside this Beautiful New Construction (2022) condo you will love the "vacation life" feeling! This 1 Bedroom PLUS a DEN that could easily be a 2ND BEDROOM. This unit also has 2 FULL Bathrooms. The Primary Bedroom has it all including Luxury Vinyl Tile, En-Suite Bathroom, Walk In Closet, and Conveniently located Stackable Washer and Dryer. The En-Suite Bathroom boasts a Glass Shower Enclosure, Solid Stone Countertops and Tile Flooring. The Modern Kitchen checks all the boxes with Solid Stone Countertops, Stainless Steel Appliances, Upgraded Backsplash, Sought after Two-Toned Cabinets (Glossy White Uppers/Dark Grey Lowers), and complimentary Lighting. This open floor plan makes it fun and easy to entertain. You will be delighted when you are looking out of the Large Sliding Glass doors from the Living Room, Dining Room, and Kitchen. Boats, Birds, Fish, Manatee, Dolphins, Kayakers, and so much more are just waiting for you. Unwind and Relax on the Balcony as you watch the Sky light up during the incredible nightly Sarasota Sunsets. This unit has a deeded parking spot and storage cage in the Garage. Have a boat or want one? There are often opportunities to rent or purchase a boat slip from another owner. The Strand of Sarasota is a Waterfront Community with so much to offer, from the heated pool and Spa to the relaxing fire pit area, Gas grills, and the well equipped gym. The community is full of friendly neighbors as well as four legged friends. The Strand allows two animals of any size and has a fenced in dog park for off leash time. The Strand also boasts a waterfront walking path, floating Kayak/paddle board launch, Kayak/paddle board storage and great fishing spots. The Strand is ideal for full time, part-time, or Investor Living. EVs are welcome with 4 Level 2 Car Charging Stations. Oh and WEEKLY Rentals are Allowed! All of this is located in one of the BEST places to live. There are 3 waterfront parks within 2 miles. Downtown Sarasota is just a short Drive, Bike, or Walk and every Saturday there is an open air Farmers market, as well as many festivals. Walk to the Wicked Cantina and enjoy their Yummy Chips and Salsa, or head Downtown for dozens of restaurants of many different varieties. Lido beach is 5 miles away and Siesta Key beach is 8.6 miles away. Sarasota has Museums, Theaters, Opera, Beaches, Symphony, Parks, Yoga, Shopping, Golf Courses, Restaurants, and more! This could be the one you have been waiting for! This unit is special because it is the lowest priced Waterfront unit of this floor plan.
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Location
Property Details
Parking
- Details: Assigned, Deeded, Electric Vehicle Charging Station(s), Guest, Open, Basement, Attached
- Garage Spaces: 1
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 1
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 4
- # of Stories: 5
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Flat
- Roof Material: Other
HOA
- Association: Lisa Dipano
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 2006161076
- Lot Size: 292805 sqft
Property Information
- Property Type: Condominium
- Style: Contemporary
- Year Built: 2022
Tax Information
- Annual Tax: $6,755
Utilities
- Water & Sewer: Public
- Heating: Electric
- Cooling: Central Air
Location
- County: Sarasota
Listing Details
Investment Summary
We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$1,074
- Cap Rate
- 4.1%
- Cash-on-Cash Return
- -9.0%
- Debt Coverage Ratio
- 0.66
- Internal Rate of Return (5 years)
- -4.7%
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:
| $625,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$500,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $125,000 |
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:
| $18,750 |
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:
| $143,750 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 858 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $728 |
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:
| $4.55 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $500,000 |
|---|---|
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:
| $3,202 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $563 |
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:
| $273 |
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:
| $4,038 |
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:
| $3,900 | $46,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$234 | -$2,808 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,666 | $43,992 |
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. | 14% | -$563 | -$6,755 |
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% | -$273 | -$3,276 |
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% | -$312 | -$3,744 |
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% | -$195 | -$2,340 |
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% | -$195 | -$2,340 |
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 | 39% | -$1,538 | -$18,455 |
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:
| $2,128 | $25,536 |
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. | -$3,202 | -$38,424 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,074 | $12,888 |