$425,000
Investment Summary
- Monthly Cash Flow
- -$403
- Cap Rate
- 5.0%
- Cash-on-Cash Return
- -4.9%
- Debt Coverage Ratio
- 0.81
- Internal Rate of Return (5 years)
- -0.8%
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
Major Price Adjustment!!! This home is an exceptional Mid-Century Modern Marvel built when homes were custom crafted with quality construction and appealing architecture, providing ambiance unlike the current Florida cookie cutter-style homes. If you are seeking a “wow” factor and uniqueness in style and décor, this is the home for you! Upon entering the home, you will immediately notice the light and bright open floor plan that includes a dining room with built-in hutch, an airy kitchen and large living room. The kitchen boasts white quartz countertops, shaker cabinets and island, making food preparation enjoyable. Pull out drawers were installed in the cabinets, and a pull-out trash receptacle cabinet was added. The pantry also has pull out drawers. Stainless steel appliances enhance the kitchen’s appeal. The breakfast bar is the perfect gathering spot to interact with the chef. The separate den/office/bonus room is off the living area and has direct access to the back yard. Storage and laundry are under the carport. This home features four bedrooms. The primary bedroom is located at the rear of the home, while Bedroom 2 across the hall is being used as a large walk-in closet for the primary suite. The third smaller bedroom serves as a guest bedroom and toy room/storage. The fourth bedroom, separate from the other bedrooms, is the largest, with its own mini-split a/c system, and set up as a teen suite with private entry. The Seller has spared no expense in remodeling their home. With a new a/c system, newer roof, refrigerator, stove (2025), luxury vinyl flooring, interior painting, remodel of the 4th bedroom, and updated primary bathroom, this house is truly “move-in ready”. There is also a new 12'x10' shed in the backyard. Enjoy your private, fenced, backyard with a fire pit for BBQs, entertainment, reading or friendly get-togethers. Added parking for boat/RV is available. Bayshore Gardens Park/Recreation Center is located on Sarasota Bay, offering residents access to the marina and private boat ramp. Boat slips are available, on a first-come, first-served basis at discounted rates. Additional amenities include boat and trailer storage, recreation hall, community junior Olympic-size swimming pool, ball fields, playground, grilling area, picnic pavilions, pickleball and basketball courts and kayak/canoe racks. A fishing pier and viewing area of Sarasota Bay add to the attractions of this waterfront community. Bayshore Gardens is conveniently located between downtown Bradenton and Sarasota, minutes from Sarasota-Bradenton International Airport, nearby IMG Sports Academy, the UTC Mall, Saint Armands Circle, Longboat Key and Anna Maria Island’s white sandy beaches. Also nearby are local shopping, eateries and entertainment for all. Do not miss the opportunity to own this stunning Mid-Century Modern home. Schedule your private showing today!
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Location
Property Details
Parking
- Description: Covered, Driveway
- Details: Boat, Covered, Driveway, Parking Pad, RV Access/Parking
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 7
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Built-Up, Membrane
HOA
- Has HOA: Yes
- Association: Bayshore Gardens HOA - Joyce Fisher
- HOA Fee: $10/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 61567.00004
- Lot Size: 7775 sqft
Property Information
- Property Type: Single Family Residence
- Style: Mid-Century Modern
- Year Built: 1955
Tax Information
- Annual Tax: $2,708
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air, Ductless
Location
- County: Manatee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$403
- Cap Rate
- 5.0%
- Cash-on-Cash Return
- -4.9%
- Debt Coverage Ratio
- 0.81
- Internal Rate of Return (5 years)
- -0.8%
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:
| $425,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$340,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $85,000 |
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:
| $12,750 |
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:
| $97,750 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,668 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $255 |
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:
| $1.74 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $340,000 |
|---|---|
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:
| $2,177 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $226 |
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:
| $203 |
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:
| $2,606 |
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:
| $2,900 | $34,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$174 | -$2,088 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,726 | $32,712 |
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. | 8% | -$226 | -$2,709 |
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% | -$203 | -$2,436 |
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% | -$232 | -$2,784 |
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% | -$145 | -$1,740 |
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% | -$145 | -$1,740 |
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% | -$1 | -$12 |
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 | 33% | -$952 | -$11,421 |
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:
| $1,774 | $21,288 |
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. | -$2,177 | -$26,124 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $403 | $4,836 |