$2,200,000
Investment Summary
- Monthly Cash Flow
- -$9,070
- Cap Rate
- 1.2%
- Cash-on-Cash Return
- -21.5%
- Debt Coverage Ratio
- 0.20
- Internal Rate of Return (5 years)
- -16.8%
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
This magnificent four bedroom, three bath pool home is located overlooking the Pasadena Golf and Country Club. The grand staircase brings you to the majestic front door. There Is 3,429 square feet of exceptionally well planned and light filled living space behind those doors. An oversized three car garage and an additional 2,300 square feet of air conditioned space are on the ground level. Once you enter into the home, your eyes are immediately drawn to the view of the pool deck and the golf course. The living room and dining room seamlessly flow together. A custom chandelier is in the dining room. French doors in the living room allow access to the swimming pool deck area. Adjacent to the kitchen is the large family room with a gas burning fire place and access to outdoors. One of the most unique features of the family room is a piece of art that was created by Alan S. Maltz, Florida’s Official Wildlife and Fine Arts Photographer. This piece of art is a feature wall in the family room and will be sold with the home The kitchen includes an island, a KitchenAid five burner gas cook top, a pot filler, a built in KitchenAid double oven with a microwave, an oven hood, KitchenAid dishwasher, Wellborne wood cabinetry, granite countertops, appliance garages, a wine cooler and a lighted piece of artwork. This gourmet kitchen has plenty of workspace and a pantry closet. There is also a breakfast bar area with seating for four to five. The breakfast area overlooks the swimming pool and has views of the golf course. The primary suite has more than 650 square feet and includes a large walk-in closet that is custom designed, a double person whirlpool tub, two separate vanities, Wellborne wood cabinetry, granite countertops, pendant lighting over vanities, decorative niches, a bench in the shower and an enclosed lavatory room. The sitting area in the primary bedroom suite overlooks the swimming pool and has a door for easy access to the patio. There is an office adjacent to the main entrance of the home. There are three more bedrooms and two baths, one of which is the pool bath. Downstairs, the floor was resurfaced in 2024, there is a Home Theatre system that was installed in 2019. This space is approximately 2,300 square feet, great for a child’s playroom, a billiard room or any recreational purpose. Or you could just convert this space into additional garages. In the garage is an electric car charging station. The swimming pool and patio area is truly unique. It is on the same living level as the main floor and has been custom designed with stainless steel railing. The pool deck and pool were remodeled in 2024 along with new pool pumps and heater. There are speakers on the pool deck. The home has landscape lighting that was installed in 2024, front fence lights in 2021 and lighting for the exterior of the home that can change with the holidays. Two tankless hot water heaters, security cameras, a Generex whole house generator, a water softener, a six zone irrigation system and a 50 year shingled roof are just a few of the many extras in this home. This is a truly one-of-a-kind home blending luxury design, thoughtful details, and modern convenience—all in a premier golf course setting.
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Location
Property Details
Parking
- Description: Garage
- Details: Electric Vehicle Charging Station(s), Garage Door Opener, Garage Faces Side, Guest, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 14
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Shingle
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 323116940710000050
- Lot Size: 25687 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2007
Tax Information
- Annual Tax: $10,049
Utilities
- Water & Sewer: Public
- Heating: Electric
- Cooling: Central Air
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$9,070
- Cap Rate
- 1.2%
- Cash-on-Cash Return
- -21.5%
- Debt Coverage Ratio
- 0.20
- Internal Rate of Return (5 years)
- -16.8%
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:
| $2,200,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,760,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $440,000 |
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:
| $66,000 |
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:
| $506,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,429 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $642 |
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:
| $1.28 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,760,000 |
|---|---|
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:
| $11,269 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $837 |
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:
| $308 |
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:
| $12,414 |
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:
| $4,400 | $52,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$264 | -$3,168 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,136 | $49,632 |
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. | 19% | -$837 | -$10,049 |
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% | -$308 | -$3,696 |
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% | -$352 | -$4,224 |
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% | -$220 | -$2,640 |
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% | -$220 | -$2,640 |
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 | 44% | -$1,937 | -$23,249 |
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:
| $2,199 | $26,388 |
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. | -$11,269 | -$135,228 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $9,070 | $108,840 |