$1,835,000
Investment Summary
We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$5,850
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -16.6%
- Debt Coverage Ratio
- 0.38
- Internal Rate of Return (5 years)
- -12.1%
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
Discover an elevated lifestyle at Bayso, Sarasota’s most coveted luxury tower where contemporary urban elegance meets laid-back coastal charm. Perfectly positioned at the vibrant Quay Sarasota waterfront district, this 18-story residential landmark offers walkable convenience to the city's acclaimed arts, dining, and cultural scene, making it an ideal retreat for those who desire both sophistication and connection. Perched on the 17th floor, Residence 1704 is a beautifully designed, light-filled sanctuary that offers 1,689 square feet of airy, open living space. This two-bedroom, three-bath residence exudes effortless style with 10-foot ceilings and expansive floor-to-ceiling glass windows and sliders, opening to a 33’ x 8’ private terrace. From here, take in panoramic views of Sarasota Bay, city skyline, and breathtaking sunsets. Inside, the residence has been thoughtfully furnished with curated European antiquities, offering a unique blend of character and contemporary flair. The open-concept layout flows seamlessly from the living area to the chef’s kitchen, where Italkraft Euro-style cabinetry, quartz countertops, and premium JennAir stainless steel appliances create a striking and functional space. The owner’s suite features a generous walk-in closet and a spa-inspired bathroom with Grohe fixtures, perfect for unwinding after a day by the sea. The guest bedroom suite offers equally impressive views and a private en-suite bath. A third full bathroom with walk-in shower and a spacious laundry room add to the home’s thoughtful design. Bayso’s exceptional amenities are designed for elevated everyday living. The ground floor features 24-hour conceierge service, a professional fitness room, community room with bar, a conference room and private work rooms with high-speed internet. On the fifth level, residents enjoy a resort-style pool and spa, expansive sun decks, a grilling station, club room and a residents’ lounge with multiple gathering spaces. Additional features include a dog park and pool baths. Additional amenities include one-reserved parking space, a secure storage unit, and a bike room for easy exploration of downtown and the bayfront paths. The location is just minutes from award-winning Siesta and Lido beaches, world-class shopping, fine dining, and Sarasota-Bradenton International Airport, this residence combines the best of Florida living with the understated elegance of a private coastal retreat. If you’re seeking a sophisticated urban home with a coastal soul, Residence 1704 at Bayso welcomes you.
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Location
Property Details
Parking
- Description: Alley Access, Assigned, Circular Driveway, Covered, Electric Vehicle Charging Station(s), Reserved, Under Building
- Details: Alley Access, Assigned, Circular Driveway, Covered, Electric Vehicle Charging Station(s), Basement, Attached
- Garage Spaces: 1
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 2
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 11
- # of Stories: 18
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Flat
- Roof Material: Concrete
HOA
- Association: Karina Alfaro
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 2009163124
- Lot Size: 0 sqft
Property Information
- Property Type: Condominium
- Style: Contemporary
- Year Built: 2023
Tax Information
- Annual Tax: $15,359
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Sarasota
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
- -$5,850
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -16.6%
- Debt Coverage Ratio
- 0.38
- Internal Rate of Return (5 years)
- -12.1%
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:
| $1,835,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,468,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $367,000 |
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:
| $55,050 |
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:
| $422,050 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,689 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,086 |
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:
| $4.14 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,468,000 |
|---|---|
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:
| $9,400 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,280 |
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:
| $490 |
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:
| $11,170 |
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:
| $7,000 | $84,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$420 | -$5,040 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $6,580 | $78,960 |
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. | 18% | -$1,280 | -$15,359 |
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% | -$490 | -$5,880 |
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% | -$560 | -$6,720 |
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% | -$350 | -$4,200 |
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% | -$350 | -$4,200 |
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 | 43% | -$3,030 | -$36,359 |
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:
| $3,550 | $42,600 |
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. | -$9,400 | -$112,800 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $5,850 | $70,200 |