$686,000
Investment Summary
- Monthly Cash Flow
- -$1,281
- Cap Rate
- 4.0%
- Cash-on-Cash Return
- -9.7%
- Debt Coverage Ratio
- 0.64
- Internal Rate of Return (5 years)
- -5.4%
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
Guiding you home to this gorgeous GL Homes- Alexia floorplan in the exclusive gated community of Winding Ridge. This almost new 2023 built, 5-bedroom, 4-bathroom home sits on an oversized, deep conservation lot—one of the largest in the cul-de-sac. Your home offers 2,961 square feet of beautifully designed living space with over $120,000 in high-end upgrades throughout. (See attachment for full list) Step inside to a custom widened entryway foyer that opens into an expansive and inviting Great Room where the gourmet kitchen, family room, and dining area flow seamlessly together—an ideal layout for both entertaining and everyday living. You’ll immediately notice the luxurious Bellawood Artisan Champagne Beach White Oak distressed hardwood flooring, a $30,000 post-purchase upgrade that enhances the home’s warmth and sophistication. The kitchen is an absolute showstopper, featuring an oversized island that easily seats six, gleaming quartz countertops, trendy subway tile backsplash, two roll-out garbage cabinets and brand-new LG stainless steel appliances, a 5-burner gas range and upgraded vent hood. The 42-inch white wood cabinetry, upgraded hardware, upgraded pantry cabinet, and island paneling complete this stylish and functional space. Natural light pours in through large windows and two sets of double sliding doors, which lead to a covered, brick-paved patio and an expansive backyard—perfect for adding a pool, firepit, or privacy fencing to create your dream outdoor retreat. Your back yard oasis has been upgraded with gas stub installation for your BBQ and rendering for your new pool has already been done for you, so you just need to start the process! On the first floor, you'll find a full bedroom and full bath with shower—ideal for guests or extended family—as well as generous storage under the stairs. Upstairs, the spacious owner's suite occupies its own wing, offering two walk-in closets and a spa-inspired en-suite bathroom with dual vanities, a garden tub, separate shower, built-in cabinet linen closets, and a private water closet. Three additional bedrooms, two more full baths, a loft, a laundry room already plumbed for a utility sink, and an extra storage closet round out the second floor. The home’s many upgrades include upgraded HVAC system and insulation, gas tankless water heater, gas stub out for generator, water system pre-plumed for water conditioning/filtration, upgraded electrical service to 300-amp service, whole house surge protection, LED recessed lighting, and chrome door hardware in all kitchen and baths. Exterior upgrades include gutters & brick-paved driveway, entry way and rear patio, all selected with attention to quality and detail. Located in the prestigious Winding Ridge community, this home includes access to a 5-acre lifestyle complex featuring a 9,684-square-foot clubhouse with an event room and catering kitchen, state-of-the-art fitness center, indoor sport court, resort-style pool with cabana seating, splash park, wading pool, covered playground, and courts for tennis, pickleball, and basketball. Ideally located near Wiregrass Mall, Tampa Premium Outlets, I-75, I-275, and the Veteran’s Expressway, this home offers quick access to Downtown Tampa, Westshore, St. Pete, and the Gulf beaches. With its premium homesite, spacious layout, and extensive upgrades, this Alexia model is truly move-in ready and a rare opportunity in Winding Ridge.
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Location
Property Details
Parking
- Description: Garage
- Details: Driveway, Garage Door Opener, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 11
- # of Stories: 2
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Shingle
HOA
- Has HOA: Yes
- Association: GRS Coummunity Management / James Smith
- HOA Fee: $1,083/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 2326200120000003970
- Lot Size: 8172 sqft
Property Information
- Property Type: Single Family Residence
- Style: Florida
- Year Built: 2023
Tax Information
- Annual Tax: $8,502
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Pasco
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,281
- Cap Rate
- 4.0%
- Cash-on-Cash Return
- -9.7%
- Debt Coverage Ratio
- 0.64
- Internal Rate of Return (5 years)
- -5.4%
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:
| $686,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$548,800 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $137,200 |
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:
| $20,580 |
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:
| $157,780 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,961 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $232 |
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:
| $1.65 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $548,800 |
|---|---|
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:
| $3,592 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $709 |
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:
| $343 |
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:
| $4,644 |
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:
| $4,900 | $58,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$294 | -$3,528 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,606 | $55,272 |
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. | 14% | -$709 | -$8,503 |
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% | -$343 | -$4,116 |
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% | -$392 | -$4,704 |
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% | -$245 | -$2,940 |
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% | -$245 | -$2,940 |
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. | 7% | -$361 | -$4,332 |
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 | 47% | -$2,295 | -$27,535 |
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:
| $2,311 | $27,732 |
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. | -$3,592 | -$43,104 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,281 | $15,372 |