$1,350,000
Investment Summary
- Monthly Cash Flow
- -$4,422
- Cap Rate
- 2.2%
- Cash-on-Cash Return
- -17.1%
- Debt Coverage Ratio
- 0.36
- Internal Rate of Return (5 years)
- -12.5%
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 this extraordinary 5-bedroom, 4-full-bath, 2-half-bath heated pool home in the highly desirable Spring Lake Forest community — truly your home in the sky! Custom-built by a local architect who considered every detail, this masterpiece sits on one of the highest elevation lots in the neighborhood, living up to its street name, Skyview. The property spans 6 acres, with 4 cleared acres for the home and 2 acres of serene woods, offering unparalleled privacy. A 170-foot driveway leads you to an impressive front elevation with a beautifully lit portico, elevated garden, and parking for a dozen-plus cars. The grandeur begins here. Step through the double doors and be immediately captivated by abundant natural light, transom windows above every door and window, and soaring ceilings throughout. Sophisticated details abound, including double crown molding, architectural wainscoting, tray ceilings, custom archways, fluted trim, and elegant chandeliers that create a timeless, classic ambiance. To the right is the study/5th bedroom with built-in cabinetry, a closet, and a full bath. To the left is the formal dining area, featuring architectural nooks perfect for displaying fine furnishings. Directly ahead, the stunning 24’ x 16’ family room showcases two sets of French doors that open to a sparkling pool oasis. The chef’s kitchen is a showstopper, with a 9’ x 6’ double-sided island, dual sinks, double ovens, two microwaves, a trash compactor, and a spacious breakfast nook. Adjacent is the 4th bedroom, currently used as an office, with bright, built-in cabinetry and large double sliders. The hallway to the garage features an expansive walk-in pantry/storage room and a convenient half bath.A sun-drenched 17’ x 17’ studio with built-ins and a sink is perfect for an artist, home business, or creative space. On the opposite side of the home are two additional bedrooms, each with walk-in closets and full bathrooms, plus a generous laundry room. The luxurious primary suite includes two separate walk-in closets with built-ins, including a built-in shoe rack. The spa-like primary bath features a soaking tub, oversized glass-enclosed shower, dual vanities, and a private water closet. A 15’ x 20’ private owner’s lounge provides a flexible space for a nursery, fitness area, or personal retreat. Step outside to the spectacular pool area, featuring a 20’ x 40’, 27,000-gallon pool with dual staircases and a continuous depth of 63 inches.. The expansive covered lounge area is pre-plumbed for an outdoor kitchen and offers multiple seating areas. At the far end of the pool is another lounging area and an elevated pavilion — perfect for dining, entertaining, or hosting unforgettable gatherings. This home seamlessly blends luxury and functionality, from barrel and lighted tray ceilings to wall niches, 2 on-demand tankless water heaters, water softener, and a 22kW whole-house Generac generator. The exterior is a private, park-like retreat, surrounded by mature woods and abundant wildlife, including deer. Experience the ultimate in elegance, privacy, and lifestyle at this one-of-a-kind Spring Lake Forest estate.
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Location
Property Details
Parking
- Description: Circular Driveway, Driveway, Garage Door Opener, Oversized, Portico, Workshop in Garage
- Details: Circular Driveway, Driveway, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Partial): 2
- # of Baths (Total): 6.0
Interior Features
- # of Rooms: 10
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Brick
- Foundation: Slab
- Roof Type: IRR/Cathedral
- Roof Material: Shingle
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: R1312319122700000320
- Lot Size: 261360 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2015
Tax Information
- Annual Tax: $22,251
Utilities
- Water & Sewer: Private, Well
- Heating: Central, Heat Pump
- Cooling: Central Air
Location
- County: Hernando
Listing Details
Investment Summary
- Monthly Cash Flow
- -$4,422
- Cap Rate
- 2.2%
- Cash-on-Cash Return
- -17.1%
- Debt Coverage Ratio
- 0.36
- Internal Rate of Return (5 years)
- -12.5%
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:
| $1,350,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,080,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $270,000 |
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:
| $40,500 |
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:
| $310,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 5,486 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $246 |
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:
| $1.15 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,080,000 |
|---|---|
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:
| $6,915 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,854 |
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:
| $9,210 |
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. | 29% | -$1,854 | -$22,251 |
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 | 54% | -$3,429 | -$41,151 |
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:
| $2,493 | $29,916 |
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. | -$6,915 | -$82,980 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$4,422 | -$53,064 |