$1,749,000
Investment Summary
- Monthly Cash Flow
- -$7,329
- Cap Rate
- 1.1%
- Cash-on-Cash Return
- -21.9%
- Debt Coverage Ratio
- 0.18
- Internal Rate of Return (5 years)
- -17.1%
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
WATERFRONT LUXURY LIVING – 4 Bedroom, 3 Bath, 3,056 Sq Ft Pool Home with Private Dock! Welcome to Sanctuary Cove, the best-kept waterfront secret on Florida’s Gulf Coast, offering residents exclusive access to a PRIVATE MARINA, upscale amenities, and even its own beach. This exceptional home is packed with high-end upgrades and thoughtfully integrated features, delivering the perfect blend of luxury, function, and peace of mind both inside and out. Boating enthusiasts will love the 16,000 lb. BOAT LIFT with two remote-controls, fenders, ladder, and a dock post equipped with water and electric, along with an extra paver path to the dock and side of the garage for added convenience. Enjoy a beautiful view of the community's private marina right from your backyard oasis. The gas-heated SALTWATER POOL and SPA, overlooks the waterfront location and marina and features overflow protection and auto-refill, creating the ultimate setting for outdoor relaxation and entertaining. A fully equipped OUTDOOR KITCHEN with Blaze Professional Grill and a dedicated gas line ready for a future generator complete the experience. Inside, you’ll find a stunning chef’s kitchen with THERMADOR APPLIANCES, including a 6-burner gas cooktop with pot filler, double-door oversized refrigerator, double wall oven, and a Thermador full-size wine/beverage refrigerator. The kitchen also features a hidden walk-in pantry tucked discreetly behind custom cabinet doors, custom surrounds, tile-to-ceiling showers in all bathrooms, and a CUSTOM WET BAR with ice maker. The flex/office space features added cabinetry and counters, with the potential to convert into a second pantry or full butler’s pantry.Upgrades are abundant, including Quartz countertops, lighted upper cabinets, custom primary closet, built in Murphy bed, and tile flooring throughout enhancing both beauty and function. The spacious open layout offers 4 bedrooms and 3 full baths, including large bedrooms that accommodate king-size beds, a custom Murphy bed in the front bedroom, and an extra-large custom primary closet. Additional highlights include IMPACT WINDOWS AND DOORS, tile roof, Water softener with reverse osmosis, tray ceilings in the foyer and family room, tall solid panel doors, and crown molding throughout the foyer, dining room, living room, and primary suite. SMART HOME AND TECH UPGRADES include upgraded electrical with security prewires, hardwired Ring doorbell and cameras (plus two portable Ring cameras), TV mounts and TVs with ethernet, and motion sensor lighting in the pantry, laundry, primary closet, and flex room. The 3 garage AND extended paved driveway is fully outfitted with drop racks, shelving, water line, and dedicated refrigerator/freezer outlets, and all closets include extra built-in shelving for maximum storage. Outdoors, enjoy a fully fenced yard, gutters with French drains, and a custom remote-powered blind on the primary bedroom’s sliding doors. Located in Zone X—no flood insurance required—and complete with a tankless gas water heater and washer and dryer included, this home delivers an unparalleled waterfront lifestyle in one of the area’s most exclusive and amenity-rich communities. Live among multi-million dollar homes with water views, marina, private beach with kayak storage, stunning Clubhouse with recreation rooms, community pool with spa, easy access to I-75, I-275, and so much more! Schedule your viewing today!
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Location
Property Details
Parking
- Description: Attached Garage
- Details: Driveway, Garage Door Opener, Other, Oversized
- 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: 11
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Block, Slab
- Roof Type: Gable or Hip
- Roof Material: Shingle
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Condominium Associates Mgmt/Jennie Byram
- HOA Fee: $1,701/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 10157.40059
- Lot Size: 14545 sqft
Property Information
- Property Type: Single Family Residence
- Style: Contemporary, Florida
- Year Built: 2023
Tax Information
- Annual Tax: $15,991
Utilities
- Water & Sewer: Private
- Heating: Central, Natural Gas
- Cooling: Central Air, Zoned
Location
- County: Manatee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$7,329
- Cap Rate
- 1.1%
- Cash-on-Cash Return
- -21.9%
- Debt Coverage Ratio
- 0.18
- Internal Rate of Return (5 years)
- -17.1%
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:
| $1,749,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,399,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $349,800 |
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:
| $52,470 |
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:
| $402,270 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,056 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $572 |
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:
| $1.47 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,399,200 |
|---|---|
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:
| $8,959 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,333 |
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:
| $10,607 |
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. | 30% | -$1,333 | -$15,991 |
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. | 3% | -$142 | -$1,704 |
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 | 58% | -$2,600 | -$31,195 |
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:
| $1,630 | $19,560 |
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. | -$8,959 | -$107,508 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $7,329 | $87,948 |