$3,900,000
Investment Summary
- Monthly Cash Flow
- -$17,826
- Cap Rate
- 0.7%
- Cash-on-Cash Return
- -23.8%
- Debt Coverage Ratio
- 0.11
- Internal Rate of Return (5 years)
- -19.0%
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
SUCH A UNIQUE PROPERTY! FOCUS on the details as this is NOT YOUR AVERAGE home with INCREDIBLE VIEWS! THE HISTORY of this property is just the beginning of the story! This 3rd generation family home provides the most AMAZING VIEWS ON THE INTERCOASTAL WATERWAY! Its unique location, lot placement and CUSTOM DESIGN offer MASSIVE WATER VIEWS from EVERY ROOM IN THIS HOME! Just wait until you SEE THE VIEWS FROM THE 3RD FLOOR with its RADIUS wall of WINDOWS! **Be sure to check out the 3-D Matterport walkthrough tour by clicking on the 'Tour 1' button at the top left of this MLS listing** This 4 BEDROOM/4.5 BATH home offers a BRAND NEW ROOF! 3 NEW HVAC's! Mostly NEWER APPLIANCES! NEW IRRIGATION PUMP fed from private well! NEW POOL PUMPS! SALT-WATER POOL/SPA with HEATER! NEW GARAGE DOORS and openers! New exterior doors! Custom built, SOLID CHERRY cabinetry with pull-outs throughout the CHEF'S KITCHEN! GAS FIREPLACE! ELEVATOR! ROUGHED-IN and WIRED for solar! Anything that was affected by the storm surge HAS BEEN REFTIFIED! No storm is a MATCH for this INCREDIBLY STRONG, WELL BUILT, BUNKER of a home! The history here is the FOUNDATION of its beauty! The original ground-level home was built with BRIDGE SPAN-CRETE ROOF TRUSSES as a HELECOPTER LANDING PAD! Those BRIDGE TRUSSES are supported by massive concrete pilings driven so deep that the bottom of the piles could not be located during the addition project in 2008! This once eye-sore, local hangout property, has NOW BEEN ESTABLISHED as THE CORNERSTONE PROPERTY in Grove City! City water and sewer! HURRICANE SHUTTERS/IMPACT GLASS to protect ALL glass openings! Wrap-around porch with AZEK decking and columns! BRAND NEW ROOF! CORAL WRAPPED GAS FIREPLACE! One-of-a-kind RADIUS kitchen COUNTERTOP to match the RADIUS GREATROOM and 3rd floor ROOFLINES! 6-burner GAS RANGE! SOLID CHERRY spiral stair case! CUSTOM MADE CHERRY interior doors and CUSTOM MILLED interior trim! NEWLY PAINTED exterior! This home has been EXTREMELY WELL MAINTAINED and CARED FOR and NO CORNERS have been cut in the process! Speaking of corners, check out the custom corner bead/no-door-casing trim as you attend your private viewing! Such ATTENTION-TO-DETAIL IS EVIDENT everywhere! There is too much to list, but here's a few details: Starting on the ground floor, the 8'-0" CANTELEEVER ROOF overhang patio off the back of the home is unique with these massive bridge roof trusses! The POOL/SPA placement is SPECIAL to this property's history, taking the place of what was once the boat basin that intruded underneath the home! ONLY THIS BUNKER OF A HOME can handle a SITE ENGINEERING FEAT as this! The storm surge rectification began at the ground floor by installing 48" DensShield Tile Backer to replace all compromised drywall. DenShield is a lightweight, water-resistant tile backer board with a built-in moisture barrier so that a drywall replacement process won't have to be done again! All the 1st floor amenities and ground level equipment has been completely replaced/remodeled, INCLUDING THE 1st floor POOL BATHROOM! FROM THE GROUND FLOOR remodel to the BRAND NEW ROOF, this home IS LIKE BRAND NEW all over again! Roughed-in for a CENTRAL VACUUM! Security alarm! Jetted tub! 3 hvac units installed FOR TOTAL COMFORT! NEW master shower tile walls! Surround sound inside and in the pool area! Outdoor kitchen electric and plumbing roughed in! New lanai and pool screening! As you can imagine, scheduling your private showing is a must with this beauty!
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Location
Property Details
Parking
- Details: Oversized, Workshop in Garage, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 13
- # of Stories: 2
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Concrete Block
- Foundation: Block, Concrete Perimeter, Pillar/Post/Pier
- Roof Material: Metal
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 412017104003
- Lot Size: 13197 sqft
Property Information
- Property Type: Single Family Residence
- Style: Florida
- Year Built: 1956
Tax Information
- Annual Tax: $16,398
Utilities
- Water & Sewer: Public
- Heating: Electric
- Cooling: Central Air
Location
- County: Charlotte
Listing Details
Investment Summary
- Monthly Cash Flow
- -$17,826
- Cap Rate
- 0.7%
- Cash-on-Cash Return
- -23.8%
- Debt Coverage Ratio
- 0.11
- Internal Rate of Return (5 years)
- -19.0%
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:
| $3,900,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$3,120,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $780,000 |
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:
| $117,000 |
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:
| $897,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,208 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $927 |
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:
| $1.21 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $3,120,000 |
|---|---|
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:
| $19,978 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,367 |
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:
| $357 |
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:
| $21,702 |
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:
| $5,100 | $61,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$306 | -$3,672 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,794 | $57,528 |
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. | 27% | -$1,367 | -$16,398 |
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% | -$357 | -$4,284 |
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% | -$408 | -$4,896 |
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% | -$255 | -$3,060 |
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% | -$255 | -$3,060 |
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 | 52% | -$2,642 | -$31,698 |
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:
| $2,152 | $25,824 |
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. | -$19,978 | -$239,736 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $17,826 | $213,912 |