$6,375,000
Investment Summary
- Monthly Cash Flow
- -$33,954
- Cap Rate
- -0.2%
- Cash-on-Cash Return
- -27.8%
- Debt Coverage Ratio
- -0.04
- Internal Rate of Return (5 years)
- -22.8%
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
Here is your chance to own a 5 bed/4.5 bath custom waterfront residence on one of the most coveted streets in the City of Anna Maria. Enjoy the rare luxury of having direct boat access in your backyard while just a short walk to the pristine shores of the Gulf. This home offers the best of both waterfront lifestyles. Thoughtfully designed with a modern coastal aesthetic, the home features high-end appliances, custom trim details throughout, and smart home integration for effortless convenience. Each bedroom offers a private en-suite bath. A custom built-in bunk room maximizes space (sleeping up to 5) with craftsmanship that speaks to intentional design, adding versatility for guests or family. Privately tucked away on the third floor, you have the expansive primary suite that offers a serene and secluded retreat, featuring a large walk-in shower and soaking tub. Open the sliding glass doors and you are greeted with a generous private balcony that invites quiet moments of relaxation. Anchored by an oversized island, the kitchen is a chef and entertainer’s dream, featuring a gas range by Wolf, a Sub-Zero refrigerator, and a 24-bottle wine fridge. The main living level balcony is outfitted with built-in outdoor cabinetry and a premium ceramic grill, creating a fully functional alfresco cooking space just steps from the kitchen. The kitchen is the centerpiece of this well-designed floor plan that allows for the living and dining spaces to come together effortlessly. Built-in storage in the living room offers seamless organization without disrupting the clean aesthetic, while a dedicated coffee bar adds a touch of everyday luxury and convenience. Another major convenience is the elevator that gives you access to all levels of the home. These subtle yet meaningful touches are found throughout the home, reflecting a level of care and quality rarely seen. On the ground level you have a beautifully constructed cabana space that blurs the line between indoors and out, overlooking a meticulously turfed lawn and an expansive pebble finish pool that shimmers like cut glass. On rainy days, the pool cabana offers a theater like movie experience equipped with a large tv that includes a Sonos surround system and plenty of space for indoor gaming. Lime rock landscape adds geological gravitas, while an outdoor shower and a tucked-away kayak rack offer an unexpected delight. For the nautical connoisseur, the composite dock with an elevator lift provides open-water access with ease. The garage offers ample space for 2 cars, a golf cart, and all your beach toys. This meticulously maintained home has never been a vacation rental, but this could be a wonderful investment property that allows for short-term stays. Come schedule your private showing today!
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Location
Property Details
Parking
- Details: Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Total): 5.0
Interior Features
- # of Rooms: 15
- # of Stories: 2
Exterior Features
- Foundation: Block
- Roof Material: Membrane, Metal
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: General - Single
Lot Information
- Parcel ID: 70520.00109
- Lot Size: 8355 sqft
Property Information
- Property Type: Single Family Residence
- Style: Coastal
- Year Built: 2023
Tax Information
- Annual Tax: $69,397
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air, Humidity Control, Ductless
Location
- County: Manatee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$33,954
- Cap Rate
- -0.2%
- Cash-on-Cash Return
- -27.8%
- Debt Coverage Ratio
- -0.04
- Internal Rate of Return (5 years)
- -22.8%
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:
| $6,375,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$5,100,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $1,275,000 |
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:
| $191,250 |
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:
| $1,466,250 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,250 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,962 |
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:
| $2.00 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $5,100,000 |
|---|---|
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:
| $32,656 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $5,783 |
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:
| $455 |
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:
| $38,894 |
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:
| $6,500 | $78,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$390 | -$4,680 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $6,110 | $73,320 |
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. | 89% | -$5,783 | -$69,398 |
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% | -$455 | -$5,460 |
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% | -$520 | -$6,240 |
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% | -$325 | -$3,900 |
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% | -$325 | -$3,900 |
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 | 114% | -$7,408 | -$88,898 |
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:
| -$1,298 | -$15,576 |
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. | -$32,656 | -$391,872 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $33,954 | $407,448 |