$2,950,000
Investment Summary
- Monthly Cash Flow
- -$13,280
- Cap Rate
- 0.7%
- Cash-on-Cash Return
- -23.5%
- Debt Coverage Ratio
- 0.12
- Internal Rate of Return (5 years)
- -18.7%
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
Welcome to 1808 W Bearss Avenue — a once-in-a-lifetime opportunity to own one of the most architecturally distinctive and private lakefront estates in Tampa. With 6 bedrooms, 5.5 bathrooms, and 6,209 sq. ft. of custom-designed living space, this curated residence is set on 1.56 acres with 150 feet of shoreline along the exclusive Lake Magdalene, a 252-acre private ski lake. Only a handful of homes on this lake have the rare combination of architectural scale, acreage, and direct water access, making this an exceedingly uncommon offering in the Tampa luxury market. Inspired by the iconic Southern California designs of Harry Gesner, the A-frame architecture features soaring windows, warm wood tones, and artful finishes throughout. Each room has been thoughtfully curated to flow seamlessly into the next, with hand-selected lighting, textures, and finishes that give the home the feel of a living, breathing art installation. The result is a serene, organic, resort-like experience both inside and out. A brick wall and gated entrance open to a circular driveway, pulling you toward the main home and a 4-car garage connected via porte cochere. The 1,510 Sq. Ft garage offers three individual car bays, with the center bay designed taller for a sprinter van or larger vehicle. In 2022, the second floor was transformed into a fully equipped guest apartment featuring a separate entrance, living room with fireplace, wet bar, mini fridge, and full bathroom—ideal for guests or a mother-in-law suite. Inside the main home, the lake commands attention from the moment you enter. Floor-to-ceiling windows flood the family room with natural light and panoramic water views. A spiral staircase leads to a second-story loft overlooking both the lake and front yard, complete with its own half bath—perfect as an office, creative studio, or lounge. The primary suite is a retreat with lake views, walk-in closet, and spa-inspired ensuite bath with a soaking tub facing the water. Upstairs, two guest rooms feature elevated lofts, one offering its own lakeview perch. The chef’s kitchen boasts Viking appliances (double oven, fridge, gas stove with pot filler), granite counters, double dishwashers, a farmhouse sink, and hidden walk-in pantry, all flowing into an expansive layout ideal for entertaining. Just off the kitchen, the formal living room offers an inviting retreat beneath exposed wood beams and vaulted ceilings. Rich hardwood floors and layered lighting create a cozy-yet-elevated ambiance. The dry bar and wine fridge make this space ideal for entertaining. Step outside and you’re transported to your own private lakeside sanctuary. The resort-style backyard unfolds with a sparkling open-air pool, Azek premium deck, and uninterrupted, panoramic views of Lake Magdalene. Swim beneath the oaks, sunbathe with wide-open water as your backdrop, or stroll directly from your private beach into the lake—no seawalls, no obstructions, just pure shoreline access. Immaculate tropical landscaping and vibrant gardens create a sense of natural privacy, while a covered boat dock with lift and sunset-view hot tub deck provide the ultimate in waterfront luxury. Additional features include a media room with new carpet, formal dining with organic leaf wallpaper, an outdoor shower, fenced dog run, and a 200-gallon propane tank. All just minutes from Carrollwood Day School, Whole Foods, fine dining, and Dale Mabry—offering seclusion, design, and convenience in one unforgettable package.
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Location
Property Details
Parking
- Description: Boat, Circular Driveway, Garage Door Opener, Garage Faces Rear, Garage Faces Side, Oversized, Secured
- Details: Attached
- Garage Spaces: 4
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 6
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Partial): 1
- # of Baths (Total): 6.0
Interior Features
- # of Rooms: 9
- # of Stories: 2
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood Siding
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Shingle
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: U352718ZZZ000000739200
- Lot Size: 68333 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 1979
Tax Information
- Annual Tax: $19,426
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Hillsborough
Listing Details
Investment Summary
- Monthly Cash Flow
- -$13,280
- Cap Rate
- 0.7%
- Cash-on-Cash Return
- -23.5%
- Debt Coverage Ratio
- 0.12
- Internal Rate of Return (5 years)
- -18.7%
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:
| $2,950,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,360,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $590,000 |
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:
| $88,500 |
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:
| $678,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 6,209 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $475 |
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:
| $0.81 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,360,000 |
|---|---|
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:
| $15,111 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,619 |
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:
| $350 |
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:
| $17,080 |
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:
| $5,000 | $60,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$300 | -$3,600 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,700 | $56,400 |
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. | 32% | -$1,619 | -$19,427 |
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% | -$350 | -$4,200 |
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% | -$400 | -$4,800 |
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% | -$250 | -$3,000 |
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% | -$250 | -$3,000 |
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 | 57% | -$2,869 | -$34,427 |
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:
| $1,831 | $21,972 |
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. | -$15,111 | -$181,332 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $13,280 | $159,360 |