$1,795,000
Investment Summary
- Monthly Cash Flow
- -$4,853
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -14.1%
- Debt Coverage Ratio
- 0.48
- Internal Rate of Return (5 years)
- -9.6%
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
MOVE RIGHT IN! SELLERS SPARED NO EXPENSE WITH OVER $500K OF IMPROVMENTS/RENOVATIONS MADE!! Discover the perfect blend of luxury and comfort in this stunning 5-bedroom, 3.5-bathroom, two-story custom-built home nestled on a serene, wooded lot on over 5 acres in the coveted Myakka River Trails community. Every detail of this residence exudes sophistication and quality craftsmanship, offering an unparalleled living experience. The chef’s kitchen has been completely redone with custom cherry cabinets, quartz countertops, and state-of-the-art appliances-2022. Luxurious custom oak hardwood floors, imported from North Carolina, span throughout the home, complemented by solid core doors and intricate moldings. A spacious dining room, a formal living room, and a bright sunroom create a welcoming atmosphere throughout. The living areas are enhanced by two stunning fireplaces featuring antique walnut wood mantles, adding warmth and elegance to the space. All bathrooms have been beautifully updated with high-end finishes, ensuring every space feels modern and refined. The property also boasts a 4-car extended garage with ample workspace and epoxy floors. Every detail has been considered with the installation of PGT hurricane-resistant windows and doors, offering peace of mind and durability - 2022. The newly installed variable speed Trane cooling system with a blue light feature ensures optimal comfort, while all LED lighting throughout the home enhances both efficiency and ambiance - 2022. Home features the convenience of a whole house instahot water heating system 2022, a whole home filtration and softener system with reverse osmosis in the kitchen along with a Generator/RV hookup ready electric outlet. Outside, the property boasts a brand-new pool surrounded by elegant travertine tile - 2023. Two commercial-grade outdoor grills make hosting effortless, while recently landscaped gardens enhance the natural beauty of the wooded lot. Situated just 10 minutes from SMH Hospital and 3 minutes from Wellen Park, also close by is a new Costco, Publix shopping plaza, restaurants, and walking trails—this home offers the perfect combination of convenience and exclusivity. Located within the gated community of Myakka River Trails which offers a PRIVATE BOAT DOCK (seconds from this property), fishing pier, community pool, tennis courts, playground, pavilion and where golf carts and horses are welcome. COMMUNITY HAS A DISCOUNTED FLOOD RATING TOO!! This property provides privacy and proximity to nature and all Wellen Park, Venice and Sarasota have to offer. This home seamlessly combines modern upgrades with timeless elegance, making it the perfect retreat for families or anyone seeking a luxurious lifestyle in a prime location. Don’t miss the opportunity to call this exquisite property home! Home is no longer staged as pictured. Well Water Tested January 2025; Septic Cleaned November 2024; HVAC Maintenance May 2026 is transferrable to new owner.
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Location
Property Details
Parking
- Description: Circular Driveway, Driveway, Garage Door Opener, Oversized, Workshop in Garage
- Details: Circular Driveway, Driveway, Garage Door Opener, Oversized, Workshop in Garage, Attached
- Garage Spaces: 4
- 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: Stucco
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Metal
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Sunstate Management, Sean Noonan
- HOA Fee: $1,600/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0787050002
- Lot Size: 223898 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2005
Tax Information
- Annual Tax: $12,250
Utilities
- Water & Sewer: Private, Well
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$4,853
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -14.1%
- Debt Coverage Ratio
- 0.48
- Internal Rate of Return (5 years)
- -9.6%
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:
| $1,795,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,436,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $359,000 |
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:
| $53,850 |
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:
| $412,850 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 5,146 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $349 |
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:
| $1.71 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,436,000 |
|---|---|
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:
| 6.810% |
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:
| $9,371 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,021 |
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:
| $616 |
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:
| $11,008 |
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:
| $8,800 | $105,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$528 | -$6,336 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $8,272 | $99,264 |
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. | 12% | -$1,021 | -$12,250 |
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% | -$616 | -$7,392 |
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% | -$704 | -$8,448 |
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% | -$440 | -$5,280 |
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% | -$440 | -$5,280 |
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. | 6% | -$533 | -$6,396 |
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% | -$3,754 | -$45,046 |
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:
| $4,518 | $54,216 |
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. | -$9,371 | -$112,452 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $4,853 | $58,236 |