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$985,000

For Sale - Active
23730 Franklin Ave, Sorrento, FL 32776
5 Beds
3 Baths
3,204 Square Feet
5.90 Acres Lot
Built in 1920
For Sale - Active
1 Units
Checked: 13 hours ago
Updated: May 29, 2025 at 03:51AM

Investment Summary


Monthly Cash Flow
-$1,754
Cap Rate
4.1%
Cash-on-Cash Return
-9.3%
Debt Coverage Ratio
0.66
Internal Rate of Return (5 years)
-5.0%

Property Description


5.90 Acres Lot
Built in 1920
For Sale - Active
1 Units

This gorgeous home has been used for filming by Netflix and Magnolia Network! In the heart of serene countryside, this stunning historic home from the early 1900s has been thoughtfully renovated to preserve its original charm while seamlessly incorporating the conveniences and luxuries of modern living. As you approach the almost six acres of property, zoned agriculture, the manicured grounds welcome you with a wraparound porch, setting the stage for what lies beyond. The home’s exterior, adorned with classic period features, exudes a stately charm that hints at its elegant ambiance and history. The spacious living areas are bathed in natural light as well as original hardwood floors, intricate moldings and gorgeous wood beams. Incredible wood-burning fireplace steals the show in this showstopping home. Formal living area is an inviting space and an ideal area for entertaining. The heart of the home is the chef's kitchen, where modern convenience meets classic style. Outfitted with top-of-the-line stove, stainless steel appliances and an oversized walk-in butler's pantry. The home's four bedrooms are generously proportioned, offering comfort and privacy for all. The impressive primary suite is a retreat, featuring a sitting area, walk-in closet and a gorgeous newly renovated tranquil primary bath. The expansive lush grounds are ideal for outdoor activities and offer ample space for horses and RV, making it desirable for equestrian enthusiasts. The sparkling pool is the centerpiece of the outdoor space providing a refreshing escape during summer days. This convenient location is close to restaurants, SR 429 and shopping. Upgrades include new metal roof, tankless water heater, two air-conditioning units, pool resurfaced, new plumbing and newly painted. Stunning property so make an appointment today to preview.

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Location


Property Details


Parking

  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 5

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Partial): 0
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Asbestos Shingle
  • Foundation: Slab
  • Roof Material: Shingle
  • Pool: Yes

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 251927000400002801
  • Lot Size: 257004 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Traditional
  • Year Built: 1920

Tax Information

  • Annual Tax: $5,717

Utilities

  • Water & Sewer: Private, Well
  • Heating: Central, Electric
  • Cooling: Central Air

Location

  • County: Lake

Listing Details


Listed by:
Lynda Miller
PREMIER SOTHEBYS INT'L REALTY
(407) 620-2924

Source:
Stellar MLS
MLS#: O6294085
Stellar MLS

Investment Summary


Monthly Cash Flow
-$1,754
Cap Rate
4.1%
Cash-on-Cash Return
-9.3%
Debt Coverage Ratio
0.66
Internal Rate of Return (5 years)
-5.0%

Purchase Details

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Purchase price:
$985,000
Amount financed:
-$788,000
Down payment:
$197,000
Closing costs:
$29,550
Rehab costs:
$0
Initial cash invested:
$226,550
Square feet:
3,204
Cost per square foot:
$307
Monthly rent per square foot:
$1.75

Financing Details

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Loan amount:
$788,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$5,142
Property tax:
$476
Insurance:
$392
Private mortgage insurance (PMI):
$0
Monthly payment:
$6,010

Operating Income

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% Rent Monthly Yearly
Gross rent:
$5,600 $67,200
Vacancy loss: (6%)
6% -$336 -$4,032
Operating income:
$5,264 $63,168

Operating Expenses


% Rent Monthly Yearly
Property taxes: (9%)
9%-$476-$5,717
Insurance: (7%)
7%-$392-$4,704
Property management: (8%)
8%-$448-$5,376
Repairs & maintenance: (5%)
5%-$280-$3,360
Capital expenditures: (5%)
5%-$280-$3,360
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (34%)
34%-$1,876-$22,517

Cash Flow


Monthly Yearly
Net operating income:
$3,388 $40,656
Mortgage payments:
-$5,142 -$61,704
Cash flow:
$1,754 $21,048