$279,900
Investment Summary
- Monthly Cash Flow
- -$796
- Cap Rate
- 2.9%
- Cash-on-Cash Return
- -14.8%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -10.4%
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
Under contract-accepting backup offers. Welcome to a rare jewel in Sanford’s Gateway at Riverwalk—a stunning corner unit that offers the perfect blend of modern luxury and convenience. With an abundance of natural light pouring through its windows, the spacious floor plan provides the ideal backdrop for your personal style. As you step inside, you’ll be greeted by an inviting foyer that leads into the living area. The living room is bathed in natural light, thanks to the corner positioning, offering spectacular views. Picture yourself relaxing here, enjoying the tranquility of your surroundings. The open-concept design flows seamlessly into the dining area, creating a perfect space for entertaining guests or enjoying meals with family. The kitchen is a true highlight—large, modern, and functional with a beautiful view of Lake Monroe and the Sanford Marina. It features gorgeous wood cabinetry, complemented by sleek granite countertops. The spacious layout ensures ample room for cooking and storage, with plenty of cabinets and counter space to keep everything organized. Whether you're preparing a casual meal or hosting a dinner party, this kitchen will inspire your culinary creativity. Just off the kitchen, you’ll find a convenient laundry area and plenty of storage options to keep your space tidy and clutter-free. Moving down the hall, you’ll find the first of two full bathrooms, both beautifully appointed with wood cabinets and granite counters, adding to the home’s overall elegance. The bedroom is a peaceful retreat, offering ample space for a king-sized bed and additional furniture. The master suite also features a large walk-in closet, ensuring that your wardrobe and belongings are well organized. Like the first, the en suite bathroom is elegantly finished with wood cabinets and granite countertops. Both bathrooms have been thoughtfully designed with modern fixtures and plenty of storage. The living space doesn’t end at your front door. On the third floor of this community is the incredible clubhouse, where you’ll have access to a range of amenities. A small fitness room, pool table, card tables, seating areas, and kitchen provide endless ways to unwind and socialize. The community also hosts regular events, making it easy to connect with neighbors and enjoy all the Gateway has to offer. Step outside, and you'll find the Riverwalk, a beautiful, scenic path hugging the shores of Lake Monroe—perfect for walking, jogging, or simply enjoying nature. And if you’re in the mood for a night out, you’re just a short walk away from downtown Sanford, which boasts an impressive selection of restaurants, bars, and shopping. Also conveniently located just a few minutes away from HCA Hospital and the Sanford Sunrail Station. This premier condo includes a coveted covered parking space for added convenience, and with all of these amazing amenities, you’ll truly enjoy a lifestyle like no other. Whether you’re lounging at home, working out at the fitness center, or participating in a community event, this home offers a rare and exceptional living experience. Come take a look at this remarkable property. The Gateway at Riverwalk in Sanford is waiting for you—your new lifestyle is just a tour away!
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Location
Property Details
Parking
- Description: Assigned, Covered
- Details: Assigned, Covered
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 1
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 7
- # of Stories: 6
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: IRR/Cathedral
- Roof Material: Built-Up, Membrane
HOA
- Has HOA: Yes
- Association: Sentry Management
- HOA Fee: $563/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 25193052001001314
- Lot Size: 355 sqft
Property Information
- Property Type: Condominium
- Year Built: 2007
Tax Information
- Annual Tax: $3,469
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Seminole
Listing Details
Investment Summary
- Monthly Cash Flow
- -$796
- Cap Rate
- 2.9%
- Cash-on-Cash Return
- -14.8%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -10.4%
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:
| $279,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$223,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $55,980 |
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:
| $8,397 |
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:
| $64,377 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,247 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $224 |
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:
| $1.76 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $223,920 |
|---|---|
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:
| 6.810% |
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:
| $1,461 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $289 |
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:
| $154 |
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:
| $1,904 |
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:
| $2,200 | $26,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$132 | -$1,584 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,068 | $24,816 |
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. | 13% | -$289 | -$3,469 |
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% | -$154 | -$1,848 |
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% | -$176 | -$2,112 |
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% | -$110 | -$1,320 |
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% | -$110 | -$1,320 |
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. | 26% | -$564 | -$6,768 |
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% | -$1,403 | -$16,837 |
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:
| $665 | $7,980 |
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. | -$1,461 | -$17,532 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $796 | $9,552 |