$3,275,000
Investment Summary
- Monthly Cash Flow
- -$11,837
- Cap Rate
- 1.8%
- Cash-on-Cash Return
- -18.9%
- Debt Coverage Ratio
- 0.29
- Internal Rate of Return (5 years)
- -14.2%
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
Set on a corner lot with over 200 feet of waterfront, this stunning all-block home was built by renowned St. Pete builder Tom Pici & Son and fully renovated—inside and out—over the past five years with no expense spared. Every inch of the property is professionally landscaped and manicured. Over 7,300 sq ft of imported Italian marble was meticulously installed by Paramount Stone. Premium architectural and landscape lighting by Haven Lighting can be customized in elegant or vibrant color combinations. Tranquil water orb fountains enhance the outdoor ambiance. A 12-foot arched, hurricane-rated front door framed by Vistafolia greenery welcomes you. Inside, the upstairs main living area features high ceilings and expansive water views. All windows were replaced in 2025 with PGT Winguards with Graylite II impact glass. The chef’s kitchen includes Viking and Subzero appliances, high-end quartz countertops with waterfall edges, and a marble backsplash. The living room features massive sliding glass doors, floating shelves, custom cabinetry, a mist fireplace, and coffered ceilings. The spacious primary suite has a large sliding glass door, a sleek microcement shower, and a custom walk-in closet. The upper level also includes two generously-sized bedrooms with custom closets, two more luxurious bathrooms, a large butler’s pantry with well-appointed laundry with built-ins. An elevator services all levels. The lower level adds 2,000 sq ft of air-conditioned living space with a full bath, kitchenette, Naturekast cabinets, quartz counters, a large room (ideal as an office or guest suite), and abundant open space for a gym, game room and lounge. The custom media room includes a 175” acoustically-transparent screen, pre-wiring for 15-channel Atmos, and in acoustic treatments. Outdoors, over 2,000 sq ft of waterfront covered patio space borders a 37x22 ft custom pool and oversized spa, positioned to enjoy views of John’s Pass and Boca Ciega Bay. The pool has a smooth Pebble Breeze finish, a Pentair heat pump, and a propane gas heater powered by a 500-gallon buried tank. Fifteen Halofire torches add drama, while a putting green, and lush lawn were done by Modern Grounds. The modern seawall was reinforced with 240 tons of limestone riprap during the pool construction. All three AC units were replaced in 2022; the attic was re-insulated in 2024 and the upstairs ductwork redesigned. The whole house utilizes softened and carbon-filtered water with heated and chilled reverse osmosis water in the kitchen. Generous parking for 3 cars in the immaculate 819 sq ft garage complete with epoxy floor and pre-wired for EV charging. A 34 kW Tesla Solar Roof with four Powerwall batteries offsets roughly in annual energy costs. The composite dock features Azek decking, Durosleeve pilings, and a 13,000 lb Neptune G3 lift—for a center console. Frequent visits from dolphins, manatees, rays, and birds complete this extraordinary waterfront lifestyle.
Build Your Team
Quickly find investor-friendly professionals who can help you succeed in real estate investing at any stage of the investing journey.
Agents
Match with investor-friendly agents who can help you find, analyze, and close your next deal
Lenders
Get the best funding…find investor-friendly lenders who specialize in your deal strategy
Property Managers
Transition to passive investing. Find a trusted property management partnership that lasts.
Tax Pros & Accountants
Taxes and financial reporting made easy—find experts to create tax savings strategies, file taxes, and more
Location
Property Details
Parking
- Description: Driveway, Garage Door Opener, Garage Faces Side, Oversized, Tandem
- Details: Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 6
- # of Stories: 2
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Pillar/Post/Pier
- Roof Type: Gable
- Roof Material: Other
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 123115099720000180
- Lot Size: 17424 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2001
Tax Information
- Annual Tax: $22,704
Utilities
- Water & Sewer: Public
- Heating: Heat Pump
- Cooling: Central Air, Humidity Control
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$11,837
- Cap Rate
- 1.8%
- Cash-on-Cash Return
- -18.9%
- Debt Coverage Ratio
- 0.29
- Internal Rate of Return (5 years)
- -14.2%
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:
| $3,275,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,620,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $655,000 |
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:
| $98,250 |
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:
| $753,250 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,577 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $716 |
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:
| $2.16 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,620,000 |
|---|---|
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:
| $16,776 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,892 |
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:
| $693 |
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:
| $19,361 |
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:
| $9,900 | $118,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$594 | -$7,128 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $9,306 | $111,672 |
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. | 19% | -$1,892 | -$22,704 |
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% | -$693 | -$8,316 |
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% | -$792 | -$9,504 |
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% | -$495 | -$5,940 |
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% | -$495 | -$5,940 |
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 | 44% | -$4,367 | -$52,404 |
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:
| $4,939 | $59,268 |
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. | -$16,776 | -$201,312 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$11,837 | -$142,044 |