$1,275,000
Investment Summary
- Monthly Cash Flow
- -$5,011
- Cap Rate
- 1.4%
- Cash-on-Cash Return
- -20.5%
- Debt Coverage Ratio
- 0.23
- Internal Rate of Return (5 years)
- -15.8%
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
Your dream come true awaits!! Located steps from the sand, this stunning home offers shimmering water views as soon as you walk to the front door. The bright and beautiful living area welcomes you into the home, featuring crown moulding and high ceilings. The spacious kitchen overlooks the living and dining rooms, providing ample space for large gatherings. It is the heart of the second story, boasting a Sub-Zero Refrigerator, and premium Wolf range, oven, and microwave. This "social" level also includes a separate half-bathroom designated for guests. An extended kitchen with custom cabinetry and high-end fixtures, including a sink “hot shot” which offers instant boiling water, has all the extra storage that we always wish we had! Gorgeous views pour in from the balconies on each floor, all providing un-obscured views up and down the Intracoastal Waterways. Moving upstairs, you'll find the primary bedroom and its large, en-suite primary bathroom. There are two generous walk-in closets — one is currently being used as an office space, stretching 7 ft by 5 ft. The other walk-in closet is even larger, 8.5 ft by 4.5 ft! The primary bathroom features dual-sinks and an oversized shower. The third-level balcony is accessed from the primary bedroom, providing the promise of natural light to pour in each day. Down the hall, you'll find the second bedroom, also with its own en-suite bathroom. There are built-in shelves that provide an abundance of storage for books, games, knick-knacks, whatever your heart desires! The closets in both bedrooms also offer custom built-in shelving and drawers. A large hallway linen closet and the tidy laundry room are in the perfect location on the third floor to make the task of laundry as simple as can be! One more level up, you'll find the third bedroom — or office, library, workout room, you name it! This room can be used in so many ways! Need an in-home office that feels separate from home? Save your work for the upstairs level and leave it behind when you go downstairs! Need a quiet retreat to gather your thoughts? This level houses the most private balcony in the entire home. With expansive space and its own en-suite bathroom, you can transform this level into whatever you need it to be! There are luxury hardwood floors throughout, wood-look ceramic tile in the bathrooms and laundry room, as well as tastefully painted hardwood staircases. The newly-painted large garage is big enough to comfortably house three vehicles, while still leaving plenty of room for storage. A brand-new water-softener and whole-house filtration system was just installed. There are 2 years left on the HVAC warranty, and the unit just had a new coil installed. Every floor is accessible from a built-in elevator, so mobility is never an issue. With breath-taking, 180-degree views of the Intracoastal Waterways, the opportunity to purchase a private boat slip, and a walk across the street to the sugar sand beaches of the idyllic Indian Shores community, this home offers what Florida-living is all about!
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Location
Property Details
Parking
- Description: Driveway, Garage Door Opener, Ground Level, Guest, Oversized, Tandem, Under Building
- Details: Driveway, Garage Door Opener, Guest, Oversized, Tandem, Basement, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Partial): 1
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 7
- # of Stories: 4
Exterior Features
- Exterior Walls Materials: Wood
- Foundation: Slab
- Roof Material: Shingle
HOA
- Has HOA: Yes
- Association: Associa
- HOA Fee: $1,145/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Planned Unit Development
Lot Information
- Parcel ID: 243014951050070040
- Lot Size: 1220 sqft
Property Information
- Property Type: Townhouse
- Year Built: 2016
Tax Information
- Annual Tax: $9,422
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$5,011
- Cap Rate
- 1.4%
- Cash-on-Cash Return
- -20.5%
- Debt Coverage Ratio
- 0.23
- Internal Rate of Return (5 years)
- -15.8%
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:
| $1,275,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,020,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $255,000 |
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:
| $38,250 |
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:
| $293,250 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,298 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $555 |
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:
| $2.18 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,020,000 |
|---|---|
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:
| $6,531 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $785 |
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:
| $7,666 |
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. | 16% | -$785 | -$9,422 |
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. | 23% | -$1,145 | -$13,740 |
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 | 64% | -$3,180 | -$38,162 |
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:
| $1,520 | $18,240 |
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. | -$6,531 | -$78,372 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$5,011 | -$60,132 |