$2,499,900
Investment Summary
- Monthly Cash Flow
- -$11,658
- Cap Rate
- 0.7%
- Cash-on-Cash Return
- -24.3%
- Debt Coverage Ratio
- 0.11
- Internal Rate of Return (5 years)
- -19.5%
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
Experience Elevated Luxury Living with Unmatched Views. Welcome to an extraordinary residence where elegance, comfort, and sophistication converge. This professionally furnished, turnkey 3-bedroom + den, 3.5-bathroom home offers an elevated lifestyle in every sense—beginning with your private elevator that opens to a grand foyer, setting the tone for refined living. Designed for both relaxation and entertaining, the expansive open-concept floor plan is complemented by a stunning western exposure, offering sweeping sunset views over a tranquil lake, the lush greens of the golf course, and out toward Estero Bay and Fort Myers Beach. Walls of glass invite the outdoors in, while high-end finishes and curated furnishings elevate every room. The gourmet kitchen is a chef’s dream, top-of-the-line appliances, featuring a gas cooktop, wall oven, custom cabinetry, a spacious quartz island and a generous walk-in pantry making it ideal for culinary enthusiasts. An elegant wet bar enhances the entertainment experience, while the spacious living and dining areas seamlessly flow onto the large private terrace—perfect for sunset cocktails or morning coffee with panoramic vistas. The Master suite is a serene retreat with direct lanai access, a luxurious master bath with a soaking tub, walk-in shower, dual vanities, and a spacious walk-in closets. Two additional bedrooms, both with en-suite bath, provide comfort and privacy for family or guests. Additional features include a den for work or relaxation, and custom designer touches throughout. Unit #304 includes two enclosed covered garage spaces for secure parking, as well as impact-resistant windows and doors for added safety and peace of mind. Every detail has been thoughtfully considered to provide a high-end, move-in-ready lifestyle. Indulge in luxury living where every amenity and breathtaking view is just an elevator ride away. Residents of Altaira at The Colony have access to a range of luxury amenities, including 24-hour concierge service, an infinity-edge pool with cabanas, a state-of-the-art fitness center, a rooftop observatory, three guest suites, and a 3,000-square-foot social room. This exclusive community also offers a private 34-acre island beach park with boat shuttle service, pickleball and tennis courts, sailing, bocce, and a variety of social activities. Conveniently located near world-class shopping, dining, entertainment, and Southwest Florida International Airport, this residence presents a rare opportunity to own a piece of paradise in one of Southwest Florida's most sought-after communities. With its exceptional design, breathtaking views, and unparalleled amenities, this home is truly a must-see.
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Location
Property Details
Parking
- Details: Assigned, Attached, Underground, Garage
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 4.0
Interior Features
- # of Stories: 1
Exterior Features
- Roof Material: Tile
HOA
- Has HOA: Yes
- HOA Fee: $3,298/annually
- Additional HOA Fee: $3,170/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 174725B137000.0304
- Lot Size: 0 sqft
Property Information
- Property Type: Condominium
- Style: Other, High Rise
- Year Built: 2017
Tax Information
- Annual Tax: $23,526
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air, Electric
Location
- County: Lee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$11,658
- Cap Rate
- 0.7%
- Cash-on-Cash Return
- -24.3%
- Debt Coverage Ratio
- 0.11
- Internal Rate of Return (5 years)
- -19.5%
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:
| $2,499,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,999,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $499,980 |
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:
| $74,997 |
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:
| $574,977 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,573 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $700 |
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:
| $1.60 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,999,920 |
|---|---|
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:
| $13,091 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,961 |
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:
| $399 |
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:
| $15,451 |
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:
| $5,700 | $68,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$342 | -$4,104 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $5,358 | $64,296 |
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. | 34% | -$1,961 | -$23,527 |
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% | -$399 | -$4,788 |
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% | -$456 | -$5,472 |
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% | -$285 | -$3,420 |
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% | -$285 | -$3,420 |
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. | 9% | -$539 | -$6,468 |
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 | 69% | -$3,925 | -$47,095 |
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:
| $1,433 | $17,196 |
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. | -$13,091 | -$157,092 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $11,658 | $139,896 |