$1,100,000
Investment Summary
- Monthly Cash Flow
- -$3,755
- Cap Rate
- 2.2%
- Cash-on-Cash Return
- -17.8%
- Debt Coverage Ratio
- 0.35
- Internal Rate of Return (5 years)
- -13.2%
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
WELCOME HOME TO THIS IMMACULATE, ONE OWNER, MOVE-IN READY, POND FRONT, QUALITY MARC RUTENBURG BUILD, nestled in desirable Myrtle Point at Lansbrook in the sought-after East Lake area of Palm Harbor, Florida. This exceptionally maintained ONE STORY home offers an open concept custom designed floor plan with an abundance of natural light, transom windows, 3,201 living square feet and 4,185 total square feet featuring a NEWER 2018 Architectural Shingle Roof with transferable warranty, 4 Extra Large Bedrooms (3 Private En Suites and a 4th Bedroom/Flex Room), 3 Full Bathrooms, Private Office (or 5th Bedroom), Formal Living Room, Formal Dining Room, Gourmet Chef’s Kitchen, Family Room w/Natural Gas Fireplace, Oversized 3 Car Garage, Heated Pebble Tech Pool/Spa on a Premium Pond Front 1/2 acre+ lot w/plenty of backyard space and gorgeous views of a Lighted Pond Fountain. As you enter this stunning home you will immediately notice the Double Solid Wood & Leaded Glass front doors, double crown molding and archways, soaring 12’ ceilings, a Private Office (or 5th Bedroom), a large Formal DR for entertaining, an inviting Formal LR with 12’ triple slider doors overlooking the pond, tranquil lanai, and pool/spa area. The Primary Bedroom En Suite is a retreat of its own and has a relaxing sitting area with large picture windows and 2 walk in closets. The Primary Bathroom features a large walk-in shower w/custom seat, soaking tub, 2 sink vanities, vanity area and a private commode. This open concept home features a Chef’s Kitchen w/tile flooring, 2020 GE Profile double oven, 2020 Miele electric cook top, 2021 LG Blk Stainless refrigerator/freezer, GE Profile dishwasher, GE Profile Microwave, Wood dove tail pullout drawers, 42” upper cabinets, glass display cabinet, premium granite island and countertops, counter height stool area plus an additional casual dining area with mitered window and a French door leading to the pool/spa. The adjacent Family Room w/tile flooring, custom wood and tile Natural Gas Fireplace, and slider doors which access the lanai/pool/spa for the ultimate Florida outdoor lifestyle experience. Custom designed XL En Suite Bedroom 2 and XL En Suite Bedroom 3 each have a private full bath with wood cabinets and granite counters, and their own walk-in closets. The Private 4th Bedroom (or Flex/Bonus Room; utilize as a game room, fitness room, 2nd office, media room) has large windows overlooking the pond and backyard. Your Backyard Sanctuary features a beautiful, premium pond front location with views of an elegant lighted fountain, 2021 Natural Gas Pool Heater and 2013 Pebble Tech Pool with Ceramic Sea Life Sculptures and an Elevated Spa, expansive Brick Paver Lanai and 2020 Newly Screened Pool Cage. The entire home has NEW 2021 Sherman Williams Interior/Exterior Paint, 2020 and 2013 HVACs, 2023 Water Softener, Inside Laundry Room w/2025 Washer, 2014 Dryer, Laundry Tub and Cabinets. Int/Ext Surround Sound System. Property is in an X Flood Zone and has not had any flood damage. Lansbrook Waterfront Park features a Boat Ramp and Daily Boat Slips for Lake Tarpon boating/fishing, a playground, hosted Events (e.g. Movie Night) and Lansbrook Commons Park features pickle ball, basketball, soccer, and a playground. Convenient to Lansbrook YMCA, Lansbrook Golf Club, Equestrian, Clearwater Beaches, Great Restaurants, A-Rated East Lake Public & Private Schools, Tampa Int’l Airport. Don’t miss this rare opportunity, schedule your tour today!
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Location
Property Details
Parking
- Description: Garage
- Details: Driveway, Garage Door Opener, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 11
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Shingle
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Frankly Coastal Property Mgmt
- HOA Fee: $2,000/annually
- Additional Association: Lansbrook HOA Fee included in Myrtle Point HOA Fee
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 162716595350000850
- Lot Size: 24032 sqft
Property Information
- Property Type: Single Family Residence
- Style: Custom, Florida
- Year Built: 2000
Tax Information
- Annual Tax: $7,258
Utilities
- Water & Sewer: Public
- Heating: Electric
- Cooling: Central Air
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$3,755
- Cap Rate
- 2.2%
- Cash-on-Cash Return
- -17.8%
- Debt Coverage Ratio
- 0.35
- Internal Rate of Return (5 years)
- -13.2%
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:
| $1,100,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$880,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $220,000 |
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:
| $33,000 |
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:
| $253,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,201 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $344 |
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:
| $1.25 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $880,000 |
|---|---|
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:
| $5,743 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $605 |
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:
| $280 |
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:
| $6,628 |
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:
| $4,000 | $48,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$240 | -$2,880 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,760 | $45,120 |
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. | 15% | -$605 | -$7,259 |
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% | -$280 | -$3,360 |
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% | -$320 | -$3,840 |
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% | -$200 | -$2,400 |
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% | -$200 | -$2,400 |
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. | 4% | -$167 | -$2,004 |
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% | -$1,772 | -$21,263 |
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:
| $1,988 | $23,856 |
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. | -$5,743 | -$68,916 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $3,755 | $45,060 |