$7,695,000
Investment Summary
- Monthly Cash Flow
- -$41,889
- Cap Rate
- -0.3%
- Cash-on-Cash Return
- -28.4%
- Debt Coverage Ratio
- -0.04
- Internal Rate of Return (5 years)
- -23.4%
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
An elegant, private entrance shaded by regal palms and vibrant bougainvillea guides you toward something extraordinary. As the wrought iron gate closes behind you, fervent anticipation builds. Your dream home awaits. A tranquil fountain serenades you with its gentle melody, welcoming you to Casa Flamingo, a modern take on romantic architecture. This breathtaking 5,201 square foot waterfront estate on Siesta Key, built in 2019, has graced magazines and music videos. Set on an oversized acre lot with deep-water frontage on Hansen Bayou, this expansive private complex is just yards from the azure waters of Sarasota Bay and the Gulf beyond. The grand entrance, a magnificent wrought-iron door framed by nearly 24 feet of hand-carved stone receives you, hinting at the opulence within. You are greeted by a breathtaking courtyard featuring a column-laden infinity edge pool, reminiscent of a Roman bath. The enclosed space is designed with surrounding entertainment areas, including a bar & billiard room and an engaging lounge. An ensuite bedroom and full pool bath complete this incredible floor. Inside, Casa Flamingo’s interior is a harmonious blend of Spanish craftsmanship and modern lines. Sunlight streams through expansive windows, illuminating intricate tile work and casting playful shadows on the wooden floors. The main residence includes 4 bedrooms, 4.5 baths plus parking for 3 or more of your finest cars, boats, and recreational vehicles. The first floor is anchored by a spacious, great room open to a gourmet kitchen with thick Blue Azul quartz countertops, a Blue Star professional stove and oven, and a Multiere 45" stainless steel kitchen sink with deluxe accessories. A sprawling island with built-in dining area provide the perfect setting for gatherings and gourmet creations. Just off the great room, one of many balconies offers a space for morning breakfast, overlooking the wide-flowing canal. The bedrooms, each a private retreat, offer views of sparkling water and lush gardens. Lavish bathrooms feature artisanal tiles and luxurious rain showers, creating a spa-like experience in the comfort of your own home. The huge master suite features an expansive closet with custom cabinetry, and a luxurious master bathroom with dual vanities and an oversized glass shower. The guest wing boasts two expansive bedrooms with custom closets and an alfresco balcony. The rooftop, designed for leisure and play, includes plans for a putting green, hot-tub spa, bocce court, and a relaxing sun deck with a cabana. The home comes equipped with a six-person golf cart, four e-bikes, four pedal kayaks, and two paddleboards for endless outdoor activities and entertaining. Additionally, a convenient boat lift and beach area make launching watercraft effortless. Outside, the allure of Casa Flamingo continues with a sprawling terrace overlooking the azure bayou waters. Here, alfresco dining becomes an art form, with an outdoor kitchen and lounge area providing the perfect backdrop for sunset soirées and star-lit gatherings. A half-acre lawn offers opportunities for children to play, explore, and create lasting memories, while providing parents with relaxation and family bonding in a beautiful, safe environment. The detached casita offers two bedrooms, two full baths, a living room, kitchenette, and balcony. Situated above the arched entryway of the home, it includes additional climate-controlled storage. Casa Flamingo is more than a home; it is a lifestyle.
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Location
Property Details
Parking
- Description: Garage Door Opener, Ground Level
- Details: Garage Door Opener, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 6
Bathroom Information
- # of Baths (Full): 6
- # of Baths (Partial): 1
- # of Baths (Total): 7.0
Interior Features
- # of Rooms: 7
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Flat
- Roof Material: Membrane
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Multi-Family Dwellings (any combination 2+)
Lot Information
- Parcel ID: 2019100021
- Lot Size: 42770 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2019
Tax Information
- Annual Tax: $71,920
Utilities
- Water & Sewer: Public
- Heating: Central, Zoned
- Cooling: Central Air, Zoned
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$41,889
- Cap Rate
- -0.3%
- Cash-on-Cash Return
- -28.4%
- Debt Coverage Ratio
- -0.04
- Internal Rate of Return (5 years)
- -23.4%
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:
| $7,695,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$6,156,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $1,539,000 |
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:
| $230,850 |
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:
| $1,769,850 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 5,201 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,480 |
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:
| $1.19 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $6,156,000 |
|---|---|
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:
| $40,174 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $5,993 |
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:
| $434 |
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:
| $46,601 |
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:
| $6,200 | $74,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$372 | -$4,464 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $5,828 | $69,936 |
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. | 97% | -$5,993 | -$71,921 |
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% | -$434 | -$5,208 |
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% | -$496 | -$5,952 |
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% | -$310 | -$3,720 |
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% | -$310 | -$3,720 |
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 | 122% | -$7,543 | -$90,521 |
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:
| -$1,715 | -$20,580 |
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. | -$40,174 | -$482,088 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $41,889 | $502,668 |