$2,290,000
Investment Summary
We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$7,626
- Cap Rate
- 2.2%
- Cash-on-Cash Return
- -17.4%
- Debt Coverage Ratio
- 0.35
- Internal Rate of Return (5 years)
- -12.8%
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
STUNNING DESIGNER-FURNISHED CONDO WITH PANORAMIC WATER VIEWS | 17TH FLOOR | DOWNTOWN SARASOTA: Experience elevated coastal luxury in this fully furnished, professionally designed condo located on the 17th floor in the heart of Downtown Sarasota, just steps from the vibrant Quay Harbor. With sweeping, partial views of Sarasota Bay and the Gulf of Mexico, this residence was transformed in just 18 weeks from a blank canvas into a breathtaking, design-forward home. | From the moment you enter, you're greeted by a striking onyx and gold Italian porcelain tile foyer with raised gold detailing — a stunning introduction to the level of craftsmanship and detail found throughout. Each wall has received two coats of premium paint and is adorned with distinctive, HIGH-QUALITY EUROPEAN WALL COVERINGS that lend texture and a timeless elegance. Every room is thoughtfully curated with a neutral color palette that enhances the light, complements the views, and creates a cohesive sense of calm and sophistication. | The chef’s kitchen is both sleek and refined, boasting European cabinetry, quartz countertops, a Jenn-Air appliance suite, and a hand-cut CARRARA MARBLE AND MOTHER-OF-PEARL backsplash imported from Italy. Oak wood batten board detailing on the kitchen island flows seamlessly into the adjacent den, reinforcing the design’s intentional flow. | Every element has been thoughtfully selected, from the imported European light fixtures, chandeliers, and tile to the luxurious décor. The dining area is crowned by a showstopping chandelier adorned with 700 INDIVIDUALLY HANDSET SWAROVSKI CRYSTALS, casting a soft, radiant light that reflects off three 6-foot custom mirrors and enhances the 10-foot ceilings. | Electric shades in the Great Room, primary suite, and second bedroom provide convenience and privacy at the touch of a button. The Great Room is designed for comfort and entertainment, featuring a reclining leather sectional and a smart media setup with a sound bar, subwoofer, Sonos speakers, and Alexa-enabled voice-command remotes. | Both the primary and secondary bedrooms include custom-designed shelving and drawer systems, providing optimal organization and maximizing storage without sacrificing elegance. The primary bath features a luxurious soaking tub—a rare feature in this floor plan—perfect for unwinding in total relaxation. All shower floors have been expertly grouted and sealed for lasting durability. | Custom-designed outdoor furnishings and accessories, delivered in December 2024 and January 2025, complete this refined, move-in-ready home. | Residents of this luxury building enjoy world-class amenities, including a state-of-the-art fitness center, resort-style pool, dog park, and more. Located just 3 miles from Lido Beach and steps from Sarasota’s version of Central Park—The Bay Sarasota—this prime location is close to everything you could want. Enjoy arts and culture, fine dining, and upscale shopping all nearby. Boating enthusiasts will appreciate the convenient marina just south of BAYSO for effortless access to Sarasota Bay. | NOW ACCEPTING PRIVATE APPOINTMENTS. Discover a rare blend of artistry, comfort, and breathtaking views in one of Sarasota’s most coveted locations.
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Location
Property Details
Parking
- Description: Alley Access, Assigned, Circular Driveway, Covered, Electric Vehicle Charging Station(s), Reserved, Under Building
- Details: Assigned, Covered, Garage Door Opener, Off Street, Basement, Attached
- Garage Spaces: 2
- 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: 2009163129
- Lot Size: 0 sqft
Property Information
- Property Type: Condominium
- Style: Florida
- Year Built: 2023
Tax Information
- Annual Tax: $15,329
Utilities
- Water & Sewer: Public
- Heating: 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
- -$7,626
- Cap Rate
- 2.2%
- Cash-on-Cash Return
- -17.4%
- Debt Coverage Ratio
- 0.35
- Internal Rate of Return (5 years)
- -12.8%
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:
| $2,290,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,832,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $458,000 |
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:
| $68,700 |
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:
| $526,700 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,856 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,234 |
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:
| $4.20 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,832,000 |
|---|---|
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:
| $11,731 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,277 |
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:
| $546 |
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:
| $13,554 |
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:
| $7,800 | $93,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$468 | -$5,616 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $7,332 | $87,984 |
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. | 16% | -$1,277 | -$15,329 |
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% | -$546 | -$6,552 |
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% | -$624 | -$7,488 |
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% | -$390 | -$4,680 |
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% | -$390 | -$4,680 |
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 | 41% | -$3,227 | -$38,729 |
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:
| $4,105 | $49,260 |
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. | -$11,731 | -$140,772 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $7,626 | $91,512 |