$899,900
Investment Summary
We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$3,035
- Cap Rate
- 2.2%
- Cash-on-Cash Return
- -17.6%
- Debt Coverage Ratio
- 0.35
- Internal Rate of Return (5 years)
- -13.0%
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
Weekly rentals permitted, strong rental history! Direct beach front spacious two-bedroom, two-bath 1,380-square-foot condominium with superb views of the blue tropical waters and white sandy beaches of the Gulf of Mexico and the Intracoastal Waterways. There are gorgeous water views from just about everywhere you are in this beautiful open floor plan condominium! The large gulf-front balcony has a stairwell that takes you directly to the beach and pool. In addition, a private balcony on the east side with views of the Intracoastal where you can have coffee and watch the beautiful sunrises, and keep an eye on your boat at the dock. You can also ride the semi-private elevator at your foyer door down to the beach, pool and a private dock on the Intracoastal. This unit comes with an under-building assigned parking space and private storage closet in the foyer outside the front entry door. During pre-construction, this floor plan also had the ability to be constructed as a third bedroom. Therefore, this unit could be converted to a third bedroom. This location in Indian Rocks Beach is called The Narrows, one of the unique locations in all of the Pinellas County beaches, providing access and views to the Gulf of Mexico and Intracoastal Waterway. Bring your island attitude to this special place! In addition to the white sand beach front condo, the private waterfront dock awaits on the Intracoastal for fishing and boating. Choose your view of magnificent sunsets from the large open living room, dining, kitchen, balcony or beach. Watch the morning sunlit sky over the Intracoastal from your private balcony. This unit comes fully furnished and decorated, and solid roster of potential future rental bookings. Resort-style amenities include heated pool, patio, barbecue grill, private dock and assigned parking. Activities include 10 restaurants within a 10-12-minute distance or five-minute drive. Paddleboard, kayak and boat rentals are nearby. Splash Harbor Water Park is a three-minute ride. The Sun Coast Beach Trolley stops in front of the condominium daily, and can safely and conveniently take you to all the hot spots along the 26-mile stretch of Pinellas County beaches from Clearwater Beach all the way down to St. Pete Beach. Make your appointment now, you won't be disappointed.
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Location
Property Details
Parking
- Description: Underground/Basement
- Details: Basement
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 2
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 6
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Concrete
- Foundation: Slab
- Roof Material: Built-Up
- Pool: Yes
HOA
- Association: Phillip Dvorak-Condo Management Plus
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 133014962890000130
- Lot Size: 30504 sqft
Property Information
- Property Type: Condominium
- Year Built: 1993
Tax Information
- Annual Tax: $13,165
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Pinellas
Listing Details
Investment Summary
We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$3,035
- Cap Rate
- 2.2%
- Cash-on-Cash Return
- -17.6%
- Debt Coverage Ratio
- 0.35
- Internal Rate of Return (5 years)
- -13.0%
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:
| $899,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$719,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $179,980 |
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:
| $26,997 |
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:
| $206,977 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,380 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $652 |
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:
| $2.90 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $719,920 |
|---|---|
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:
| $4,698 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,097 |
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:
| $280 |
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:
| $6,075 |
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:
| $4,000 | $48,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$240 | -$2,880 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,760 | $45,120 |
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. | 27% | -$1,097 | -$13,165 |
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% | -$280 | -$3,360 |
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% | -$320 | -$3,840 |
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% | -$200 | -$2,400 |
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% | -$200 | -$2,400 |
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 | 52% | -$2,097 | -$25,165 |
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:
| $1,663 | $19,956 |
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. | -$4,698 | -$56,376 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $3,035 | $36,420 |