$4,950,000
Investment Summary
- Monthly Cash Flow
- -$22,993
- Cap Rate
- 0.6%
- Cash-on-Cash Return
- -24.2%
- Debt Coverage Ratio
- 0.09
- Internal Rate of Return (5 years)
- -19.4%
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
Understated Elegance and Refined Coastal Living Awaits You. Truly TURN KEY! Come See this Direct Intracoastal Front Home on New Smyrna Beach’s coveted SpyGlass Lane. Perfectly situated on a private cul-de-sac and deep, wide water. Spectacular views from all the main living spaces. Minutes to the Inlet and a short walk to the beach, you can’t get a better location than this! The address may be SpyGlass Lane but no telescope is required to enjoy the dolphin show and constant boat parade from the comfort of this stunning custom home. From the moment you enter, your eyes are drawn to the incredible water views and open spaces. From the gracious entry area you immediately notice the high level of custom details distinguishing this home. The large living room features a natural gas fireplace and custom built-in cabinetry. From the living room you have immediate access to the spacious covered porch and to the adjacent dining area doubling as a billiard room through the magic of a custom pool/dining table. Flowing from the dining area you are invited into the large "Chef's" kitchen and family room spaces. The kitchen features a walk-in pantry and high end stainless appliances including: french door refrigerator with "flex" drawers for either freezer or additional refrigerator space, natural gas six burner range plus griddle and two ovens, range hood, dishwasher, microwave, warming drawer and beverage refrigerator. The center piece of the kitchen is a 6' x 9' island with gorgeous stone counter top and integrated counter height seating. Adjacent to the kitchen is a large family room with an additional natural gas fireplace, walls of windows and french doors opening to the river front porch. The elevated porch allows for views to the pool and spa, flagstone patio and the brand new (2025 built) dock with covered boat lift. A full bathroom on the main level allows for quick access to the pool area and for rinsing off after fishing or a morning in the surf. Store the golf cart, scooters, fishing equipment and surfboards in the over-sized two bay garage with custom epoxy floor covering and built-in storage system. Upstairs you find five bedrooms and four more full bathrooms. Also upstairs is a large media/bonus room with sink, refrigerator, cinema seating and built-in cabinetry. The Primary Suite offers spectacular river views and an elegant primary bath with garden tub, separate shower, double sinks, marble counter tops and a private water closet. This jewel on the river was beautifully renovated in 2018. Metal Roof new in 2022. Three Separate A/C units all new in 2018. Brand new elevated Dock with covered 12,000 lb lift completed in August 2025. The new dock includes a 4 Pole Setup to accommodate additional, large boat. Be sure to check out the photos and Virtual Tour / Video to fully appreciate this special home and spectacular location. Measurements are approximate and Buyer responsible to verify all dimensions.
Build Your Team
Quickly find investor-friendly professionals who can help you succeed in real estate investing at any stage of the investing journey.
Agents
Match with investor-friendly agents who can help you find, analyze, and close your next deal
Lenders
Get the best funding…find investor-friendly lenders who specialize in your deal strategy
Property Managers
Transition to passive investing. Find a trusted property management partnership that lasts.
Tax Pros & Accountants
Taxes and financial reporting made easy—find experts to create tax savings strategies, file taxes, and more
Location
Property Details
Parking
- Description: Garage
- Details: Driveway, Garage Door Opener, Garage Faces Side, Off Street, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Total): 5.0
Interior Features
- # of Rooms: 12
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Concrete
- Foundation: Slab
- Roof Type: Hip
- Roof Material: Metal
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Paul J. Delfino
- HOA Fee: $200/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 740503000020
- Lot Size: 9680 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 1999
Tax Information
- Annual Tax: $37,677
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Volusia
Listing Details
Investment Summary
- Monthly Cash Flow
- -$22,993
- Cap Rate
- 0.6%
- Cash-on-Cash Return
- -24.2%
- Debt Coverage Ratio
- 0.09
- Internal Rate of Return (5 years)
- -19.4%
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:
| $4,950,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$3,960,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $990,000 |
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:
| $148,500 |
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:
| $1,138,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,168 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,188 |
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:
| $3,960,000 |
|---|---|
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:
| $25,356 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $3,140 |
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:
| $560 |
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:
| $29,056 |
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:
| $8,000 | $96,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$480 | -$5,760 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $7,520 | $90,240 |
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. | 39% | -$3,140 | -$37,677 |
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% | -$560 | -$6,720 |
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% | -$640 | -$7,680 |
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% | -$400 | -$4,800 |
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% | -$400 | -$4,800 |
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. | 0% | -$17 | -$204 |
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% | -$5,157 | -$61,881 |
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:
| $2,363 | $28,356 |
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. | -$25,356 | -$304,272 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $22,993 | $275,916 |