$4,100,000
Investment Summary
- Monthly Cash Flow
- -$20,461
- Cap Rate
- 0.2%
- Cash-on-Cash Return
- -26.0%
- Debt Coverage Ratio
- 0.03
- Internal Rate of Return (5 years)
- -21.1%
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
HOMERUN! Hit your own HOMERUN this Summer with $350,000 PRICE IMPROVEMENT! “This is exactly where I Want to be!” That will be the thought as you tour this extraordinary gated estate on the Intracoastal Waterway, with a two-bedroom guest house! Built in 2014, designed by renowned Arthur Rutenberg & boasting over 3500 square feet of living space on one level. The open-concept design is bright & airy, completed by glass walls revealing panoramic views & vibrant sunsets. A few stand-out features are 12-foot coffered ceilings in Great Room, 10-foot ceilings throughout, solid 8-foot doors, security system & elevator. Upgrades include impact-resistant windows & doors, engineered hardwood floors, porcelain tiles, crown molding, plus gourmet kitchen with oversized island, walk-in pantry, Butler’s Pantry with wine cooler, five-burner gas stove, custom wood cabinetry & a built-in 150 bottle Viking wine refrigerator. All air conditioning units were replaced in the last 3 years, with one updated in February 2025. A luxurious, private Master Suite spans 783 square feet along north side of the residence, with tray ceilings, two walk-in closets, impressive master bathroom, & a glass door opening to a covered lanai. Just outside the Master Suite, is a large custom office with built-ins & Plantation shutters. The south side of the residence boasts a spacious, waterfront library with stunning views and fully customized shelving & cabinets. There are two additional bedrooms with plantation shutters, one en-suite, a third bathroom, and the elevator & split-level stairway to the ground floor. The large laundry room is nicely equipped with New Maytag washer & dryer, custom cabinets & plantation shutters. There is a wonderful covered & screened outdoor kitchen fully equipped with an American Outdoor Grill, sink, refrigerator, counter space, & large dining area. Access the rear staircase, from a 2nd lanai to go down to the pool area with an enormous paver deck, bonus room & the dock, with 13,000 lb boat lift and water service. The 3100+ square foot ground floor contains an oversized three-car garage, numerous storage rooms, & convenient bonus room with A/C, full bathroom & sliding glass doors to another covered lanai & heated, saltwater pool. Whether indoors, on a lanai, pool deck, or dock, enjoy front-row seats to nature’s finest entertainment! Hear the Gulf waves roll onto shore, soaring osprey & seagulls, & bi-weekly Drum Circle on Nokomis Beach. Enjoy daily sightings of manatee and dolphin, and boats of all types ranging from runabouts to luxury yachts over 100 feet! The spacious guest house is fully remodeled, updated & furnished, with a open floor plan, well equipped eat-in kitchen, 2 bedrooms, 1 bathroom, 2 vanities & independent laundry. Nestled at the waterfront end of a private lane, shared only by two other homes, on a 26,000+ square foot lot, four blocks north of Albee Bridge & across from Casey Key & Nokomis Beach. Embrace the beach lifestyle, where you can easily golf cart, bike, or walk to waterfront dining, tiki bars with live music. Golf carts are a favorite mode of transportation in Nokomis Beach, so a car is not necessary to shop or do everyday errands! Golf Cart to Publix, pharmacy, Post Office, nail salon, dog groomer, haircut, boutique shopping & much more. Evening sunsets ignite the sky into rotating vibrant colors, & in that moment, you’ll know, “Nokomis is not Just a place, but a State-of-Mind & this is Right where I Need to be!”
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Location
Property Details
Parking
- Description: Garage Door Opener, Underground
- Details: Driveway, Garage Door Opener, Oversized, Basement, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 15
- # of Stories: 2
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Hip
- Roof Material: Concrete
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Multi-Family Dwellings (any combination 2+)
Lot Information
- Parcel ID: 0169010027
- Lot Size: 26058 sqft
Property Information
- Property Type: Single Family Residence
- Style: Florida, Mediterranean
- Year Built: 2014
Tax Information
- Annual Tax: $25,796
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$20,461
- Cap Rate
- 0.2%
- Cash-on-Cash Return
- -26.0%
- Debt Coverage Ratio
- 0.03
- Internal Rate of Return (5 years)
- -21.1%
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:
| $4,100,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$3,280,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $820,000 |
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:
| $123,000 |
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:
| $943,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,293 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $955 |
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:
| $0.91 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $3,280,000 |
|---|---|
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:
| 6.625% |
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:
| $21,002 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $2,150 |
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:
| $273 |
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:
| $23,425 |
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:
| $3,900 | $46,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$234 | -$2,808 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,666 | $43,992 |
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. | 55% | -$2,150 | -$25,796 |
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% | -$273 | -$3,276 |
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% | -$312 | -$3,744 |
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% | -$195 | -$2,340 |
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% | -$195 | -$2,340 |
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 | 80% | -$3,125 | -$37,496 |
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:
| $541 | $6,492 |
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. | -$21,002 | -$252,024 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$20,461 | -$245,532 |