$3,350,000
Investment Summary
- Monthly Cash Flow
- -$14,414
- Cap Rate
- 1.1%
- Cash-on-Cash Return
- -22.4%
- Debt Coverage Ratio
- 0.18
- Internal Rate of Return (5 years)
- -17.7%
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
Exquisite, three-story home on more than half an acre w/western rear exposure overlooking Charlotte Harbor in GRASSY POINT. FABULOUS SUNSETS! Home comes w/deeded dock (#7A) located in the GRASSY POINT YACHT CLUB's private marina (reciprocity available w/other yacht clubs). Property backs up to protected mangroves & features a FULL VIEW of the harbor from the main living area & the top floor of the home. Beautifully designed home w/every consideration given to even the smallest details; this home will impress from the moment you arrive at the circular drive. Elevated entry adds to the grandeur of your first impression. Double entry doors open to the welcoming foyer - where your choices are up to the main living area or down to the 1st floor game room & home gym. A laundry room on the 1st floor is perfect for handling all of the towels from the pool as well as your activewear after a workout. The first floor also offers walkout access to the lanai, one of the two summer kitchens & the pool deck. Main living area features a spacious living room w/soaring, two-story ceilings & disappearing sliding glass doors that lead to the balcony. Gorgeous kitchen opens to the living room & boasts two islands - one w/breakfast bar seating for 5. Top-of-the-line stainless steel, Thermador appliances (incl a 6-burner gas range) will bring out your inner chef. Other amenities include a beverage center w/wine refrigerator & ice maker, pot-filler above range & under cabinet lighting plus an abundance of storage cabinets as well as a full, walk-in butler's pantry. Designed for entertaining, this home will make hosting Thanksgiving dinner easy even for large families w/two separate dining areas plus additional table seating by the two summer kitchens on the lanai. The formal dining room is located beyond the beverage center. A large breakfast area features a large picture window overlooking your pool & the phenomenal harbor view. Other architectural details include coffered tongue and grove wood ceilings, tall baseboards, recessed LED lighting, crown molding & Beachwood inspired luxury vinyl flooring on the upper two floors plus tile on the first floor. An elevator connects all levels of the home while two different staircases connect the main living area to the top floor. A 2nd master suite w/en-suite bath, home office, guest bedroom & media room complete the main floor living area of the home. Upstairs, you'll find the exquisite master suite plus FOUR additional bedrooms & a bonus room. The master retreat offers a private balcony, en-suite beverage center, spa-like master bath & two large walk-in closets/dressing rooms. The master bath features a soaking tub, dual entry walk-in shower & two vanities plus a private WC. Of the 4 additional bedrooms on this floor, two have private baths & two of them share a Jack & Jill bath. There is also a large laundry room w/two washers & two dryers on this level. No need to climb stairs w/baskets of laundry. Outside, the home has meticulously maintained, tropical landscaping, a fenced backyard plus an in-ground pool w/attached spa. A large L-shaped lanai w/two separate covered areas & a full summer kitchen await. Property comes w/deeded dock #7A complete w/16,000 lb boat lift. Grassy Point Estates is a gated, deed-restricted community w/estate homes, private roads w/tree-lined streets & a private yacht club. Marina offers direct access to Charlotte Harbor where some of SW Florida's best fishing & boating awaits you.
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Location
Property Details
Parking
- Description: Circular Driveway, Garage Door Opener, Garage Faces Side, Off Street, Oversized, Workshop in Garage
- Details: Circular Driveway, Garage Door Opener, Garage Faces Side, Off Street, Oversized, Workshop in Garage, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 7
Bathroom Information
- # of Baths (Full): 6
- # of Baths (Partial): 3
- # of Baths (Total): 9.0
Interior Features
- # of Rooms: 15
- # of Stories: 3
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Roof Material: Metal
- Pool: Yes
HOA
- Has HOA: Yes
- Association: STAR HOSPITALITY MANAGEMENT
- HOA Fee: $1,725/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 402234126005
- Lot Size: 26978 sqft
Property Information
- Property Type: Single Family Residence
- Style: Custom, Key West
- Year Built: 2018
Tax Information
- Annual Tax: $27,592
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air, Humidity Control, Ductless
Location
- County: Charlotte
Listing Details
Investment Summary
- Monthly Cash Flow
- -$14,414
- Cap Rate
- 1.1%
- Cash-on-Cash Return
- -22.4%
- Debt Coverage Ratio
- 0.18
- Internal Rate of Return (5 years)
- -17.7%
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:
| $3,350,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,680,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $670,000 |
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:
| $100,500 |
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:
| $770,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 8,304 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $403 |
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:
| $1.05 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,680,000 |
|---|---|
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:
| 6.840% |
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:
| $17,543 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $2,299 |
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:
| $609 |
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:
| $20,451 |
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:
| $8,700 | $104,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$522 | -$6,264 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $8,178 | $98,136 |
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. | 26% | -$2,299 | -$27,592 |
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% | -$609 | -$7,308 |
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% | -$696 | -$8,352 |
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% | -$435 | -$5,220 |
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% | -$435 | -$5,220 |
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% | -$575 | -$6,900 |
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 | 58% | -$5,049 | -$60,592 |
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:
| $3,129 | $37,548 |
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. | -$17,543 | -$210,516 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $14,414 | $172,968 |