$1,549,900
Investment Summary
- Monthly Cash Flow
- -$4,097
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -13.8%
- Debt Coverage Ratio
- 0.48
- Internal Rate of Return (5 years)
- -9.3%
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
Prepare to fall in love with this Lake Harris waterfront sanctuary in Waterwood. Sellers are motivated and will include a significant rate buydown to provide significantly lower-than-market interest rates to financed buyers. The Harris Chain of Lakes is the largest in Florida, spanning over 75,000 acres with many activities such as watersports, fishing, and waterfront restaurant hopping! This better-than-new custom estate, nestled in an exclusive, best-kept-secret community of Waterwood, offers breathtaking panoramic lake views from its light-filled, approximately 5,000 sq ft open layout. Subtle Wabi-Sabi design emphasizes natural elegance. Reimagined with designer finishes, the exquisite home features luxury vinyl plank flooring, plush bedroom carpets, and a show-stopping chef's kitchen with professional stainless steel appliances, quartz, and custom cabinetry overlooking the lake. Spa-like baths offer ultimate relaxation. Enjoy a new roof, enhanced patio screen, fresh paint, stylish lighting, and a cozy electric fireplace. The oversized 4-car garage provides ample storage. Experience refined lakefront living with soaring ceilings and seamless indoor-outdoor flow. Wake to stunning sunrises from multiple balconies, enjoy 100+ ft of private frontage, and launch watercraft from your tranquil backyard onto the Harris Chain of Lakes, with easy access to waterfront dining and charming towns like Mount Dora. The grand entrance reveals a breathtaking living space framed by expansive lake windows. Dual lavish primary suites, each with a private balcony, offer waterfront serenity. A spacious dining room with a custom wine closet complements the lake-view chef's kitchen and breakfast nook. The expansive living room is perfect for entertaining. The 60 ft covered lanai invites outdoor relaxation, with space for a future infinity pool. A private community marina offers 22 boat slips for Waterwood residents to dock their boats for an insanely low annual fee of less than $175 per year. Golfers love the proximity to Mission Inn (5 mins), and top academies are also close. Conveniently located 10 mins from the Turnpike, enjoy easy access to Orlando (1 hr), Tampa (75 mins), and beaches. This unmatched lakefront masterpiece in an exclusive community awaits. Call today to schedule your private tour!
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Location
Property Details
Parking
- Description: Circular Driveway, Driveway, Garage Door Opener, Garage Faces Side, Golf Cart Parking, Ground Level
- Details: Circular Driveway, Driveway, Garage Door Opener, Garage Faces Side, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Partial): 1
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 15
- # of Stories: 2
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Brick Veneer
- Foundation: Slab
- Roof Material: Shingle
HOA
- Has HOA: Yes
- Association: Sharon Brown
- HOA Fee: $529/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 172025063500000300
- Lot Size: 21420 sqft
Property Information
- Property Type: Single Family Residence
- Style: Custom
- Year Built: 1987
Tax Information
- Annual Tax: $3,944
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Lake
Listing Details
Investment Summary
- Monthly Cash Flow
- -$4,097
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -13.8%
- Debt Coverage Ratio
- 0.48
- Internal Rate of Return (5 years)
- -9.3%
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:
| $1,549,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,239,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $309,980 |
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:
| $46,497 |
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:
| $356,477 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,860 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $319 |
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:
| $1.30 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,239,920 |
|---|---|
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:
| $7,939 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $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.
Insurance:
| $441 |
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:
| $8,709 |
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:
| $6,300 | $75,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$378 | -$4,536 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $5,922 | $71,064 |
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. | 5% | -$329 | -$3,944 |
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% | -$441 | -$5,292 |
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% | -$504 | -$6,048 |
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% | -$315 | -$3,780 |
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% | -$315 | -$3,780 |
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. | 3% | -$176 | -$2,112 |
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 | 33% | -$2,080 | -$24,956 |
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:
| $3,842 | $46,104 |
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. | -$7,939 | -$95,268 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$4,097 | -$49,164 |