$1,459,000
Investment Summary
- Monthly Cash Flow
- -$3,521
- Cap Rate
- 3.3%
- Cash-on-Cash Return
- -12.6%
- Debt Coverage Ratio
- 0.53
- Internal Rate of Return (5 years)
- -8.2%
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
Spectacular waterfront living in the highly sought-after Bailey’s Bluff community! REMODELED in 2020, this stunning 3-bedroom, 2-bath elevated home offers 2,723 square feet of refined coastal living with panoramic water views throughout and 75 feet of deep-water frontage with direct access to the Gulf. This property embraces the ultimate boating lifestyle with a large private composite dock, a 16,000 lb Neptune boat lift, jet ski dock with lift, and quick access to world-class fishing, and open Gulf waters. From the moment you arrive, the elegant paver drive flanked by lighted pillars welcomes you home, with lush manicured landscaping, &stunning curb appeal. Step up to the charming covered front balcony and through double glass doors into the stunning open-concept living space. Soaring 21’ vaulted ceilings with wood beams, a wood-burning fireplace, gorgeous hardwood floors, crown molding, 5 1/2" baseboards, and abundant natural light create a warm and elevated coastal aesthetic. The living areas flow seamlessly, with sliding glass doors opening to a covered balcony overlooking lush landscaping and sparkling waters. The kitchen is a true showpiece, featuring GE Monogram stainless steel appliances, a gas cooktop with stainless hood, quartz countertops, soft-close custom cabinetry, and an impressive 13-foot island with bar seating, pendant lighting, and wine refrigerator, a tile backsplash, and a farm sink positioned under a picture window with endless water views make this a dream for both entertaining and everyday living. A split floor plan provides privacy and functionality. On the main level, two generously sized bedrooms include custom closets, and one features 10-foot vaulted ceilings. They share a beautifully remodeled hall bath with granite countertops, wood cabinetry, and a tile-and-glass step-in shower with bench seating. A spacious laundry room with granite counters and soft-close cabinetry offers additional storage Upstairs, the cozy loft overlooks the main level & opens to a private balcony. The primary suite is a private sanctuary with a glass door leading to an expansive L-shaped wraparound balcony. From here, a spiral staircase leads to an upper observation deck offering breathtaking panoramic water views. The en suite bath is a spa-like retreat with granite counters, dual sinks, a built-in vanity, a jetted soaking tub with ocean views, and a luxurious shower room with body jets. A custom walk-in closet/dressing room, accessed through a pocket door, provides exceptional storage and organization. The ground level features a 3-car garage with space for all your toys, tools, and storage needs. A bonus room at the rear of the garage is perfect for a home gym, office, or family room with French doors leading out to the covered lanai. This home offers expansive outdoor living spaces at every turn. The fully fenced backyard is lush, tropical, and tranquil, with a private walkway leading to the dock and boat lift. The lot offers ample room for a future pool, expanding your outdoor living potential. Located just a short drive to nearby parks, Gulf beaches, and the charming town of Tarpon Springs with its vibrant shops and dining, this home delivers the very best of the Florida lifestyle. This spectacular home blends comfort, craftsmanship, and waterborne adventure into one unforgettable property. An optional Baileys Bluff Civic Assoc. membership is just $100 year, providing to a private beach, boat ramp, & clubhouse.
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Location
Property Details
Parking
- Description: Driveway, Garage Door Opener, Oversized
- Details: Driveway, Garage Door Opener, Oversized, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 7
- # of Stories: 2
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Concrete Block
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Metal
HOA
- Association: Bailey's Bluff Civic Association
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 2326150010000000270
- Lot Size: 15000 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 1984
Tax Information
- Annual Tax: $4,722
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Pasco
Listing Details
Investment Summary
- Monthly Cash Flow
- -$3,521
- Cap Rate
- 3.3%
- Cash-on-Cash Return
- -12.6%
- Debt Coverage Ratio
- 0.53
- Internal Rate of Return (5 years)
- -8.2%
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:
| $1,459,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,167,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $291,800 |
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:
| $43,770 |
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:
| $335,570 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,723 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $536 |
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:
| $2.31 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,167,200 |
|---|---|
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:
| $7,474 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $394 |
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:
| $441 |
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:
| $8,309 |
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:
| $6,300 | $75,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$378 | -$4,536 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $5,922 | $71,064 |
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. | 6% | -$394 | -$4,722 |
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% | -$441 | -$5,292 |
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% | -$504 | -$6,048 |
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% | -$315 | -$3,780 |
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% | -$315 | -$3,780 |
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 | 31% | -$1,969 | -$23,622 |
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:
| $3,953 | $47,436 |
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. | -$7,474 | -$89,688 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $3,521 | $42,252 |