$599,900
Investment Summary
- Monthly Cash Flow
- -$1,184
- Cap Rate
- 3.8%
- Cash-on-Cash Return
- -10.3%
- Debt Coverage Ratio
- 0.61
- Internal Rate of Return (5 years)
- -6.0%
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
ONE OF A KIND HOME AT THIS PRICE!! Welcome to 2706 S Fairway Drive…A Private Oasis in Walden Lake’s Coveted Tanglewood Section. Nestled on a lush, tree-lined 1-ACRE LOT with tranquil CONSERVATION VIEWS, this FULLY REMODELED 4-bedroom + DEN (has a closet and could act as a 5TH BEDROOM), 2-bathroom home is a rare find. Located on a quiet, NO-THROUGH-TRAFFIC street surrounded by other custom homes, this peaceful retreat offers the best of Florida living-privacy, sustainability, & plenty of space to gather & grow. From the moment you arrive, you’ll appreciate the immaculate curb appeal, a large driveway, & an oversized side-entry 2-car garage. SOLAR PANELS installed keep utility costs incredibly low - offering savings that can feel like having an extra $45,000 paid off on your mortgage! Step through the stunning CIRCULAR WOOD DOUBLE GLASS ENTRY DOORS & prepare to fall in love. Inside, gorgeous WOOD-LOOK PORCELAIN TILE flows seamlessly through every main living space & bedroom - there’s NO CARPET anywhere. Sunlight pours through large windows & sliders, filling each room w/natural light and a welcoming warmth. The open layout begins w/a bright, airy living room and formal dining area perfect for family dinners & special gatherings. At the heart of the home, the gourmet kitchen overlooks a spacious family room highlighted by a charming WOOD-ACCENT FIREPLACE - ideal for cozy evenings in. The kitchen itself is a dream: WHITE SHAKER CABINETS, sleek STAINLESS-STEEL APPLIANCES including a French door refrigerator, GRANITE COUNTERS, a large island NAVY LEATHERED GRANITE TOP, w/stylish pendant lighting, & plenty of storage including a BUILT-IN PANTRY. There’s even a passthrough window to the back porch for effortless indoor-outdoor entertaining. Tucked privately on one side of the home, the expansive primary suite is a true retreat w/huge walk-in closet & a spa-like en suite bathroom. Relax in the STAND-ALONE SOAKING TUB or enjoy the luxurious TILED WALK-IN SHOWER w/DUAL SHOWER HEADS & CUSTOM TILE ACCENTS. DUAL GRANITE-TOPPED VANITIES & classic brick-pattern tile flooring. The 3 additional bedrooms offer privacy for family or guests and share a beautifully updated bathroom w/pool access - complete w/large granite double vanity & a tub/shower combo. THE DEN HAS A CLOSET could act as a 5TH BEDROOM & features elegant French doors, is perfect as a home office, nursery, or playroom to suit your family’s needs. TRIPLE GLASS SLIDERS FROM THE MASTER SUITE & LIVING ROOM, POCKET & DOUBLE SLIDERS FROM THE KITCHEN, & BACK BEDROOM wide to create a seamless transition to your outdoor sanctuary. The spacious covered porch is made for entertaining & overlooks a sparkling pool & spa, surrounded by new screening, an UPDATED DECK WITH TRU GRIT SAND FOSSIL COATING, and a charming WHITE VINYL PICKET FENCE for privacy & safety. The conservation area to the right of the home provides the ultimate peaceful backdrop w/frequent visits from local birds & wildlife. Additional features include: * DOUBLE-PANE, ENERGY-EFFICIENT VINYL WINDOWS* PLANTATION SHUTTERS ON FRONT WINDOWS* 80-GALLON WATER HEATER* WATER SOFTENER *OVERSIZED TWO-CAR GARAGE with attic access for extra storage *NEW GAS HEAT PUMP FOR THE SPA *Fully fenced backyard around the pool area. Living in Walden Lake means enjoying miles of scenic lakeside trails, a large fishing lake and dock, sports fields, two dog parks, a toddler playground, & a welcoming sense of community - all with a VERY LOW HOA FEE AND NO CDD.
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Location
Property Details
Parking
- Description: Driveway, Garage Door Opener, Oversized
- Details: Driveway, Garage Door Opener, Oversized, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 8
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Shingle
- Pool: Yes
- Solar Panels: Yes
HOA
- Has HOA: Yes
- Association: Bette Guarino
- HOA Fee: $50/semi-annually
- Additional Association: Walden Lake
- Additional HOA Fee: $354/semi-annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: P0629225AN000001000220
- Lot Size: 43869 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 1990
Tax Information
- Annual Tax: $6,334
Utilities
- Water & Sewer: Public
- Heating: Active Solar, Central, Electric, Exhaust Fan, Solar
- Cooling: Central Air
Location
- County: Hillsborough
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,184
- Cap Rate
- 3.8%
- Cash-on-Cash Return
- -10.3%
- Debt Coverage Ratio
- 0.61
- Internal Rate of Return (5 years)
- -6.0%
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:
| $599,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$479,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $119,980 |
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:
| $17,997 |
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:
| $137,977 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,637 |
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:
| $1.37 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $479,920 |
|---|---|
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:
| 6.625% |
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:
| $3,073 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $528 |
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:
| $252 |
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:
| $3,853 |
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:
| $3,600 | $43,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$216 | -$2,592 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,384 | $40,608 |
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% | -$528 | -$6,334 |
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% | -$252 | -$3,024 |
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% | -$288 | -$3,456 |
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% | -$180 | -$2,160 |
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% | -$180 | -$2,160 |
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. | 2% | -$67 | -$804 |
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 | 42% | -$1,495 | -$17,938 |
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:
| $1,889 | $22,668 |
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. | -$3,073 | -$36,876 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,184 | $14,208 |