$339,000
Investment Summary
- Monthly Cash Flow
- -$1,088
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -16.7%
- Debt Coverage Ratio
- 0.37
- Internal Rate of Return (5 years)
- -12.2%
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
*HERON CREEK Golf and CC* 2BED + DEN Paired Villa with Golf and Water view. Turn-Key Furnished & READY FOR IMMEDIATE OCCUPANCY! Winter Blues gotcha down well this snappy one-owner villa is just what the Dr ordered … The ever-popular Westfield Bimini floor plan boasts 1531 square ft of living area under air and is well suited to laid back living and entertaining alike. It features high ceilings, lots of large windows for an abundance of natural light and an open floor plan that flows seamlessly from room to room. There is a spacious great room, a Den/ Flex room, a sun filled dining area and a wonderful kitchen that that is bigger than many much larger single-family homes!!! The split bedroom plan affords both you and your guests a private retreat at the end of a long day in paradise! Off the great room there is a fantastic extended lanai overlooking the lush fairway and pond of #4 of the Oaks Course. You can sit and watch the sunrise paint the sky in the morning while enjoying a cup of coffee and marvel at the abundance of native birds and wildlife on parade! This home is nicely outfitted and has been well maintained by the original owner. The kitchen has updated Stainless appliances, and the AC was recently replaced (2023) The primary Bedroom features high tray ceilings, access to the lanai, a generous deep walk-in closet and linen closet, and an ensuite bath with dual sinks and large walk-in shower. The guest bedroom is light and bright, has an ample built-in closet for extra storage and has an adjacent full bath with tub shower combo and designated linen closet. The kitchen has an amzzzzing amount of workspace and cabinetry and has plenty of room for a mobile island in the center if so desired, there is a great closet pantry and raised breakfast bar perfect for entertaining. If you are ready to shake those winter blues book your appointment to see this happy villa!** LOW HOA ***quarterly fees INC: cable, internet, ground maintenance, irrigation, mulching & ext painting.** NO CDD** Heron Creek offers exceptional amenities including a 21,000 sq. ft. clubhouse, 27 holes of Championship golf Arthur Hills design, resort style pool & spa, a robust social activity calendar, fitness center, Tennis courts and formal & casual dining options! Club Membership is required with3 membership levels offered beginning at $268/mo. Conveniently located in sought after SARASOTA COUNTY Heron Creek offers easy access to I-75 and US 41, the Cocoa Plum Shopping District, Myakkahatchee Creek trails, Blue Ridge Park & The Braves Stadium, trendy WELLEN PARK, COSTCO, gulf beaches, major SWF airports & SMH medical centers! +FLOOD ZONE X no flood insurance required COMING SOON:NEW SMH HOSPITAL to be built just 3 miles from the main gate of Heron Creek at Sumter and i-75
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Location
Property Details
Parking
- Description: Garage
- Details: Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 2
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 6
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Hip
- Roof Material: Tile
HOA
- Has HOA: Yes
- Association: AMI TARA HINZE
- HOA Fee: $1,211/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Duplex
Lot Information
- Parcel ID: 0992170353
- Lot Size: 5581 sqft
Property Information
- Property Type: Townhouse
- Style: Florida
- Year Built: 2002
Tax Information
- Annual Tax: $3,918
Utilities
- Water & Sewer: Public
- Heating: Electric
- Cooling: Central Air
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,088
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -16.7%
- Debt Coverage Ratio
- 0.37
- Internal Rate of Return (5 years)
- -12.2%
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:
| $339,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$271,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $67,800 |
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:
| $10,170 |
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:
| $77,970 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,531 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $221 |
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:
| $1.31 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $271,200 |
|---|---|
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:
| $1,737 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $327 |
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:
| $140 |
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:
| $2,204 |
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:
| $2,000 | $24,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$120 | -$1,440 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $1,880 | $22,560 |
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. | 16% | -$327 | -$3,919 |
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% | -$140 | -$1,680 |
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% | -$160 | -$1,920 |
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% | -$100 | -$1,200 |
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% | -$100 | -$1,200 |
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. | 20% | -$404 | -$4,848 |
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 | 62% | -$1,231 | -$14,767 |
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:
| $649 | $7,788 |
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. | -$1,737 | -$20,844 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,088 | $13,056 |