$649,000
Investment Summary
- Monthly Cash Flow
- -$1,762
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -14.2%
- Debt Coverage Ratio
- 0.48
- Internal Rate of Return (5 years)
- -9.7%
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
SELLER MOTIVATED & OFFERING 1 YEAR PAID HOA FEES W/ ACCEPTABLE OFFER! Welcome to your dream home in the gated community of THE RIDGE in Wesley Chapel. This stunning residence, built by GL Homes, showcases the Chandon Grande floor plan & sits on an OVERSIZED LOT lot of almost 1/4 acre. RIGHT ACROSS THE STREET FROM YOUR FRONT DOOR, you’ll find RESORT-STYLE AMENITIES that'll make you feel like you're on a never-ending vacation! Enjoy a luxurious clubhouse w/ party room, fitness center & aerobics room w/ fitness classes, game room, theater room, & an indoor sport court. Outside, enjoy the beach entry pool w/ poolside cabanas, lap pool, spiral waterslide, splash park, playground, lighted tennis courts, outdoor basketball court, sand volleyball court, outdoor fireplace, & grill. There is so much to do, you'll never want to leave home! Inside this spacious 4-BEDROOM + BONUS ROOM/LOFT home with 3.5 baths & 2-car garage, you'll discover plenty of room for everyone! The exterior boasts a brick-paved driveway, a tile roof, & beautifully maintained landscaping by the HOA, so you can FORGET ABOUT YARD WORK & enjoy your free time! The OPEN FLOOR PLAN features engineered wood flooring throughout the main living areas & 1 bedroom, while the other bedrooms, stairs, & bonus room feature luxury vinyl flooring. All bathrooms have elegant tile floors, & wide baseboards throughout the home add a touch of sophistication. The entryway greets you w/ soaring ceilings & modern farmhouse-style chandeliers. The eat-in kitchen comes equipped w/ granite countertops, island w/ breakfast bar that seats 6, a NEW oversized sink, mosaic tile backsplash, multi-level wood cabinets, pantry, & stainless steel appliances. Adjacent to the kitchen, the dining space features a unique modern Edison bulb farmhouse chandelier & room for a larger table. The Great Room is both cozy & grand, w/ tray ceiling, recessed lighting, ceiling fan, & sliders leading to an OVERSIZED SCREENED & COVERED BRICK-PAVED PATIO. Plus, there’s an EXTENDED OPEN GRILLING PATIO w/ LOTS of YARD SPACE to run & play & a view of trees for privacy. The Primary Bedroom Suite on the 1st level is a true retreat, featuring TWO LARGE WALK-IN CLOSETS w/ BUILT-IN ORGANIZERS, a tray ceiling w/ recessed lighting, & an EN SUITE BATHROOM w/ dual vanities, quartz counters, dual sinks, a garden tub, a separate shower w/ a rainfall shower head, & a private water closet. All bedrooms come w/ ceiling fans, & there are 3 additional bedrooms & 2 more full baths downstairs.Head upstairs via the modern staircase to the spacious bonus room/loft, which includes its own half bath. This versatile space could be your 5th bedroom, office, media room, game room, or craft room – the possibilities are endless! Additional perks include a NEW WATER SOFTENER, WHOLE HOUSE WATER FILTRATION SYSTEM providing drinkable water to all faucets, Ring Doorbell, & ALL NEW APPLIANCES (except for the range), plus a NEW GARBAGE DISPOSAL. The HOA FEE INCLUDES: LAWN & LANDSCAPING MAINTENANCE, FERTILIZATION, TREE TRIMMING ONCE A YEAR, EXTERIOR PEST CONTROL, 24/7 GUARD HOUSE & gates, all AMENITIES & COMMON AREAS, MANAGEMENT STAFF, & streetlights.Conveniently located near TOP-RATED Wiregrass schools, easy access to I-75, & just minutes from Wiregrass Mall, The Grove, Tampa Premium Outlets, & a plethora of restaurants & entertainment options. Don’t miss out on the chance to make this fun & fabulous home yours – where every day feels like a vacation!
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Location
Property Details
Parking
- Description: Driveway, Garage Door Opener, Guest
- Details: Driveway, Garage Door Opener, Guest, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Partial): 1
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 9
- # of Stories: 2
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Block
- Roof Type: Gable
- Roof Material: Tile
HOA
- Has HOA: Yes
- Association: Gabriela Unzaga Steffenson
- HOA Fee: $1,387/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 2826200010000000830
- Lot Size: 9866 sqft
Property Information
- Property Type: Single Family Residence
- Style: Custom, Florida, Mediterranean, Traditional
- Year Built: 2016
Tax Information
- Annual Tax: $8,744
Utilities
- Water & Sewer: Public
- Heating: Central, Electric, Natural Gas
- Cooling: Central Air
Location
- County: Pasco
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,762
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -14.2%
- Debt Coverage Ratio
- 0.48
- Internal Rate of Return (5 years)
- -9.7%
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:
| $649,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$519,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $129,800 |
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:
| $19,470 |
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:
| $149,270 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,875 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $226 |
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:
| $1.43 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $519,200 |
|---|---|
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:
| $3,399 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $729 |
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:
| $287 |
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:
| $4,415 |
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:
| $4,100 | $49,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$246 | -$2,952 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,854 | $46,248 |
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% | -$729 | -$8,744 |
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% | -$287 | -$3,444 |
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% | -$328 | -$3,936 |
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% | -$205 | -$2,460 |
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% | -$205 | -$2,460 |
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. | 11% | -$463 | -$5,556 |
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 | 54% | -$2,217 | -$26,600 |
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:
| $1,637 | $19,644 |
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. | -$3,399 | -$40,788 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,762 | $21,144 |