$897,000
Investment Summary
- Monthly Cash Flow
- -$2,534
- Cap Rate
- 2.8%
- Cash-on-Cash Return
- -14.7%
- Debt Coverage Ratio
- 0.45
- Internal Rate of Return (5 years)
- -10.3%
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 19 Cinnamon Beach Way, a spectacular 3 bed/2.5 bath house on the golf course in the magnificent seaside community of Cinnamon Beach at Ocean Hammock. This beautiful residence is the ideal beach house located in a scenic gated community, with amazing neighborhood amenities, convenient access to an unspoiled cinnamon-colored beach, and incredible vacation rental opportunities. After driving the gorgeous, oak-lined journey to the security-gated entrance, the Ocean Hammock community greets its guests with tropical flora and fauna, beautifully manicured landscaping, and uniquely custom coastal homes. As soon as you open your car door, you are welcomed by a fresh ocean breeze and the undeniable fragrance of salty ocean air. The home’s exterior is fresh and inviting, with brightly-painted teal doors, white trim accents, and crisp white railings on the east-facing balcony. The 2nd-floor entryway has an impressive 8-foot-high glass door that is framed with glass window casings and a transom window, allowing natural light to pour into the inviting foyer. The foyer feels light and airy with 15-foot ceilings and coastal chandelier lighting that escort you up the stairs to a spacious, open floorplan. The main living level features a gourmet kitchen, elegant dining room and comfortable family room. The entire second floor has durable luxury vinyl plank floors, 10-foot ceilings, and a generous number of impact-glass windows and doors that keep the entire space naturally bright throughout the day. The kitchen has contemporary, maple shaker cabinets, granite countertops, stainless steel appliances, and a peninsular bar that accommodates two barstools for easy entertaining. The family room has impressive tray ceilings that define the space and it has two, 8-foot-high, glass French doors which lead to a large balcony with more beautiful views of the tropical community. Kick your feet up and feel the ocean breeze! The dining room is directly adjacent to the kitchen and comfortably seats 8 people for effortless entertaining. A hallway from the main living space leads to the master suite, featuring a large walk-in closet and a private balcony facing West- perfect for viewing vibrant evening sunsets overlooking the area’s renowned Jack Nicklaus Signature Ocean Course. The master bathroom offers modern tile floors, a double vanity, granite countertops, a soaking bathtub, walk-in shower, private water closet, and large windows for ideal lighting. The second floor also contains a centrally located laundry room and convenient powder bathroom off the kitchen. The downstairs offers a game/flex room and two plush guest suites that share a Jack-and-Jill bathroom. The game room has glass French doors that open to a cozy lanai with ample space for chaise lounges and a grill. Adjacent to the patio is a grass lawn ideal for tossing the football or kicking the soccer ball with the kids. There’s room for a small pool or hot tub if you’d like to add one. Say goodbye to yardwork- the HOA takes care of all lawn maintenance, including mowing, irrigation and landscaping. Walk to the beach! Phenomenal community amenities including: oceanfront pool and hot tub, lakeside pool and kids’ water park, beach access, fitness center, seasonal bar & grill, business center, club house with lounge, game room and more. Fantastic rental opportunity through Cinnamon Beach Vacations. This is amazing home at a price that can’t be beat. Don’t delay!
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Location
Property Details
Parking
- Description: Driveway, Garage Door Opener
- Details: Driveway, Garage Door Opener, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Partial): 1
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 7
- # of Stories: 2
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Tile
HOA
- Has HOA: Yes
- Association: May Management
- HOA Fee: $531/quarterly
- Additional Association: May Management
- Additional HOA Fee: $510/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0411313512000100070
- Lot Size: 5706 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2012
Tax Information
- Annual Tax: $9,190
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Flagler
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,534
- Cap Rate
- 2.8%
- Cash-on-Cash Return
- -14.7%
- Debt Coverage Ratio
- 0.45
- Internal Rate of Return (5 years)
- -10.3%
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:
| $897,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$717,600 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $179,400 |
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:
| $26,910 |
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:
| $206,310 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,402 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $373 |
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:
| $1.92 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $717,600 |
|---|---|
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:
| $4,595 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $766 |
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:
| $322 |
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:
| $5,683 |
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:
| $4,600 | $55,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$276 | -$3,312 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,324 | $51,888 |
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. | 17% | -$766 | -$9,190 |
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% | -$322 | -$3,864 |
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% | -$368 | -$4,416 |
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% | -$230 | -$2,760 |
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% | -$230 | -$2,760 |
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. | 8% | -$347 | -$4,164 |
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 | 49% | -$2,263 | -$27,154 |
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:
| $2,061 | $24,732 |
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. | -$4,595 | -$55,140 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $2,534 | $30,408 |