$1,795,000
Investment Summary
- Monthly Cash Flow
- -$6,190
- Cap Rate
- 2.0%
- Cash-on-Cash Return
- -18.0%
- Debt Coverage Ratio
- 0.33
- Internal Rate of Return (5 years)
- -13.4%
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
The is absolutely the very best waterfront view, with an outstanding upgraded stilt home on the market today, in “Pirate Harbor”. Every evening’s sunset comes with an endless view of this beautiful tropical water. This view will remind you why you live in Florida ! This is a true boating, secluded beach exploring, and fishing paradise. To have no neighbors behind you is almost priceless. Nothing in your backyard’s view other than water and islands, many species of egrets and waterfowl, manatee, and an occasional bottlenose dolphins exploring the backwaters. Fishing right from this dock and seawall has produced some of the freshest of table fare for the current owners. The home is open and bright, and full of custom and upgraded features. Contact the Listing Agent, or your Agent, for a detailed list of the home’s upgrades and features. Some of the home’s features include Italian Porcelain plank and Bamboo wood flooring, a dazzling Kitchen with custom, one of a kind, exotic, natural stone "Quartzite" counter tops (hand chosen by the homeowner from her family's 39-year Marble & Granite Stonework business in Tampa, Florida) All “top of the line” KitchenAid appliances. Other features include a six burner gas range & double ovens. Custom solid Cherry wood kitchen cabinetry with “above and under” custom cabinetry lighting. The kitchen features were designed for a gourmet cook, or a Chef. The openness of the Great room was built for light, and views. There’s also a beautiful wet bar with refrigeration convenient to this entertaining room. The upper level of this home is all private Master suite. Which includes a sitting area that can be used as a private office, or just a private living space to relax. Both of these areas open to a private deck. The long distance views from this upper level deck are almost indescribable. A different sunset painting the waterfront view, daily. There’s a large, conveniently located laundry room with an upstairs laundry chute. A versatile bottom level, large room overlooking the pool/spa area and the waterfront, now being used for an entertaining game room, this space may be utilized for so many different functions. A ground level professional’s office, an exercise area, a guest area for visitors, family and friends. Just to name a few. The living and boating from this home can be described in one word. “Ultimate”. Direct access into the historic Charlotte Harbor, Boca Grande Pass, the Peace River, all the beaches, to include many private beaches. Boating to the Gasparilla Island State Park, and the Cayo Costa State Park. No bridges, and no traversing through narrow residence lined canal ways. If you are wanting to live, and entertain your family and friends from more of a private setting with no backyard neighbors, boasting long distance waterfront views, this mini-resort lifestyle might be just for you. Especially if boating and fishing are priorities in your life. Living here you would enjoy the spectacular view for yourself every morning, every evening, and every day. To treat yourself to the heated spa, and a refreshing swim in this gorgeous pool would make a great relaxing way to close out any day. This home and property have too many desirable features to list here. One really needs to see this home in person to get the feeling of how it would be to live at this beautiful, tropical, waterfront location. Call today for a private Showing.
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Location
Property Details
Parking
- Description: Garage Door Opener
- Details: Boat, Driveway, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 3
- # of Stories: 2
Exterior Features
- Exterior Walls Materials: Wood
- Foundation: Pillar/Post/Pier
- Roof Material: Metal
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 422319376006
- Lot Size: 18020 sqft
Property Information
- Property Type: Single Family Residence
- Style: Key West
- Year Built: 1997
Tax Information
- Annual Tax: $16,102
Utilities
- Water & Sewer: Public
- Heating: Heat Pump, Propane
- Cooling: Central Air
Location
- County: Charlotte
Listing Details
Investment Summary
- Monthly Cash Flow
- -$6,190
- Cap Rate
- 2.0%
- Cash-on-Cash Return
- -18.0%
- Debt Coverage Ratio
- 0.33
- Internal Rate of Return (5 years)
- -13.4%
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:
| $1,795,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,436,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $359,000 |
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:
| $53,850 |
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:
| $412,850 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,588 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $694 |
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:
| $2.43 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,436,000 |
|---|---|
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:
| $9,195 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,342 |
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:
| $10,978 |
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. | 21% | -$1,342 | -$16,103 |
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 | 46% | -$2,917 | -$35,003 |
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:
| $3,005 | $36,060 |
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. | -$9,195 | -$110,340 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$6,190 | -$74,280 |