$529,000
Investment Summary
We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$871
- Cap Rate
- 4.3%
- Cash-on-Cash Return
- -8.6%
- Debt Coverage Ratio
- 0.69
- Internal Rate of Return (5 years)
- -4.3%
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
Impeccable first floor waterfront condo with deeded dock #5 and 10,000 lb boat lift is a must see! This contemporary coastal inspired condo is located on the canal basin just steps from your boat, pool, clubhouse and less than 10 minutes to Charlotte Harbor, no bridges! Strategically designed to maximize the water and lush landscape views with 10' ceilings, 8' door and large windows throughout, making the home light and bright, but not too overwhelming thanks to the East and Northern exposure front and back. A welcoming paver walkway leads you to the covered porch with a glass door entry, marble flooring, spacious foyer with a large entry walk-in closet and art niche. A den/study that could double as a guest room (no closet) is very light and welcoming with glass french doors, warm wood flooring and a large window. You can also host overnight guests in the spacious guest bedroom located off of a shared hallway , with a guest bathroom and laundry room, featuring a pocketing door at the hall entry that closes creating an en-suite feel. The large laundry room has a walk in pantry style storage area, sink and additional cabinets. The kitchen is absolutely stunning, with Cambria Quartz counter, custom wood cabinetry featuring pantry style storage, pocketing storage and contemporary hardware. The high-end stainless steel appliances and induction cook top with custom hood are complimented by a custom iridescent mosaic back splash. the intelligent design of the kitchen offers seating at the breakfast bar, or in the kitchen nook nestled in a bay window created space over looking the lush greenbelt. The exotic wood flooring enhances the upscale feel of this space. As you enter the main living area, you will love the wall of windows showcasing the waterfront and the beautifully maintained grounds in the community. The open concept design of this area is perfect for entertaining large groups and allowing flexibility in design to fit your style. A wall of sliding impact doors leads to the lanai area, which features a custom wood table/bar that seats 3-4 adults and extends the entire width of the wall..a great space to have evening drinks after a long day on the boat! Abundant seating in the lanai makes this room feel like another living space, with the benefit of an unobstructed view of the docks, including yours! The master bedroom also is facing the canal and has a large window, spacious walk in closet and an en-suite bathroom with walk in shower, tub and plenty of storage. This condo has been meticulously maintained and beautifully upgraded throughout, such a nice layout and design with open concept living, plenty of storage, deeded dock with lift and a large 2 car garage.
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Location
Property Details
Parking
- Description: Garage Door Opener, Ground Level
- Details: Deeded, Driveway, Guest, Off Street, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 2
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 7
- # of Stories: 2
Exterior Features
- Foundation: Slab
- Roof Material: Tile
HOA
- Association: Gateway Management
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 412211776007
- Lot Size: 3008 sqft
Property Information
- Property Type: Condominium
- Style: Mediterranean
- Year Built: 2002
Tax Information
- Annual Tax: $6,196
Utilities
- Water & Sewer: Public
- Heating: Electric
- Cooling: Central Air, Humidity Control
Location
- County: Charlotte
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
- -$871
- Cap Rate
- 4.3%
- Cash-on-Cash Return
- -8.6%
- Debt Coverage Ratio
- 0.69
- Internal Rate of Return (5 years)
- -4.3%
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:
| $529,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$423,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $105,800 |
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:
| $15,870 |
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:
| $121,670 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,330 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $227 |
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:
| $1.50 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $423,200 |
|---|---|
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:
| 6.840% |
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:
| $2,770 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $516 |
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:
| $245 |
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:
| $3,531 |
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:
| $3,500 | $42,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$210 | -$2,520 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,290 | $39,480 |
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. | 15% | -$516 | -$6,196 |
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% | -$245 | -$2,940 |
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% | -$280 | -$3,360 |
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% | -$175 | -$2,100 |
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% | -$175 | -$2,100 |
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 | 40% | -$1,391 | -$16,696 |
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:
| $1,899 | $22,788 |
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. | -$2,770 | -$33,240 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $871 | $10,452 |