$1,279,000
Investment Summary
- Monthly Cash Flow
- -$3,694
- Cap Rate
- 2.7%
- Cash-on-Cash Return
- -15.1%
- Debt Coverage Ratio
- 0.44
- Internal Rate of Return (5 years)
- -10.6%
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
Under contract-accepting backup offers. Discover the ultimate Florida waterfront lifestyle in this Gulf-access executive home nestled in the highly sought-after Englewood Isles community. Sitting on 0.28 acres at 14' elevation, this stunning property is not in a flood zone and has been completely renovated from top to bottom, ensuring modern elegance and peace of mind for years to come. From the moment you arrive, the 2023 circular pavered driveway and lush, low-maintenance landscaping welcome you to this beautifully refreshed home. The new double front doors open to reveal all-new luxury vinyl plank flooring and plantation shutters throughout. A striking coastal board and batten ceiling in the living room draws your eyes toward sliding glass doors that frame breathtaking views of the heated pool, lanai, and canal. Designed for both style and functionality, the fully renovated chef’s kitchen features top-of-the-line cabinetry, granite countertops, a subway tile backsplash, and stainless steel appliances, including a sleek stainless steel vent hood. Just off the dining room, a new dry bar with granite countertops and a wine refrigerator makes entertaining effortless. The inviting family room is a showstopper with a coral wood-burning fireplace, vaulted wood beam ceilings, and built-in desk and shelving. The oversized first-floor owner’s suite is a retreat of its own, boasting a wall of plantation shutters, a fully renovated en-suite with dual sinks, and a spacious walk-in shower. Every bathroom in the home has been tastefully upgraded with coastal luxury in mind. A bonus room on the first floor, currently used as a home gym, adds extra flexibility to the layout. Upstairs, one of the largest bedrooms features a private balcony, perfect for enjoying serene views. Step outside to your very own screened-in backyard oasis. A 2024 pavered deck and Synergy Wood board and batten patio overlook the sparkling heated pool and canal. The pool was fully refinished in 2023, with all-new equipment and a heater for year-round enjoyment. Just beyond the pool, a new seawall and dock, completed in 2024, along with new lift motors installed in 2022 and new cables in 2024, accommodate a 10,000 lb. lift for up to a 30' boat, providing effortless access to the Intracoastal Waterway and the Gulf. This home is as turnkey as it gets, with every major upgrade completed, including hurricane-impact windows and patio doors installed in 2021, a new roof in 2024, a new flat patio roof in 2025, a new irrigation system in 2023 using well water, new air conditioning units replaced in 2023 and 2024, and new water heaters installed in 2023 and 2024. Located in Englewood Isles, a deed-restricted community with central water and sewer, you’ll enjoy low HOA dues of just $100 annually. Just minutes from Dearborn Street’s charming shops, dining, galleries, and farmers market, plus a short drive to Venice, Englewood, and pristine Gulf beaches, this home offers the perfect balance of tranquility and convenience. Don’t miss this rare opportunity to own a completely upgraded waterfront home in a prime location—schedule your private showing today.
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Location
Property Details
Parking
- Description: Garage Door Opener
- Details: Circular Driveway, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Partial): 1
- # of Baths (Total): 5.0
Interior Features
- # of Rooms: 9
- # of Stories: 2
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Hip
- Roof Material: Tile
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Englewood Isles Property Owners Assoc
- HOA Fee: $125/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0486110033
- Lot Size: 12242 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 1982
Tax Information
- Annual Tax: $7,814
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$3,694
- Cap Rate
- 2.7%
- Cash-on-Cash Return
- -15.1%
- Debt Coverage Ratio
- 0.44
- Internal Rate of Return (5 years)
- -10.6%
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:
| $1,279,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,023,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $255,800 |
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:
| $38,370 |
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:
| $294,170 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,985 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $321 |
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:
| $1.28 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,023,200 |
|---|---|
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:
| 6.625% |
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:
| $6,552 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $651 |
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:
| $357 |
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:
| $7,560 |
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:
| $5,100 | $61,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$306 | -$3,672 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,794 | $57,528 |
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. | 13% | -$651 | -$7,814 |
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% | -$357 | -$4,284 |
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% | -$408 | -$4,896 |
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% | -$255 | -$3,060 |
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% | -$255 | -$3,060 |
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. | 0% | -$10 | -$120 |
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 | 38% | -$1,936 | -$23,234 |
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:
| $2,858 | $34,296 |
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. | -$6,552 | -$78,624 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $3,694 | $44,328 |