$449,900
Investment Summary
- Monthly Cash Flow
- -$623
- Cap Rate
- 4.5%
- Cash-on-Cash Return
- -7.2%
- Debt Coverage Ratio
- 0.73
- Internal Rate of Return (5 years)
- -3.0%
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
One or more photo(s) has been virtually staged. A Secluded Oasis: Stylish, Spacious, and Full of Potential Tucked away in a quiet, private wooded cul-de-sac in unincorporated Pinellas, this beautifully updated 3-bedroom, 2-bathroom home offers the perfect blend of modern design and peaceful seclusion. Ideal for those seeking flexibility, this property provides ample space for RVs, boats, or outdoor living—making it a true private paradise. Step inside to a stunning designer kitchen that’s a true focal point of the home, featuring sleek quartz countertops, high-end stainless steel appliances, a butcher block island, and a skylight that pours in natural light—perfect for starting your day with a warm cup of coffee or tea. The open-concept layout seamlessly flows into an expansive, fully fenced backyard with a large composite deck, offering endless opportunities for outdoor entertaining or simply enjoying your own retreat. With 0.34 acres (90x170), there’s plenty of room for future additions or your dream garden. The spacious primary suite is your personal escape, complete with a newly remodeled en-suite bathroom that includes his and hers sinks, a privacy toilet, a large walk-in closet, and a modern, tiled shower. Recent updates throughout the home include brand new hurricane impact windows and extensive improvements to plumbing, electrical, and HVAC systems, all fully permitted. You’ll also find a new 200-amp electrical panel, a tankless water heater, upgraded laundry room systems, and fresh ceiling lights and modern outlets throughout. A Nest smart thermostat adds energy efficiency, and the kitchen is equipped with top-of-the-line appliances (2021), including a new dishwasher (2024). The roof was replaced in 2017, and the A/C system is in great condition, installed in 2010. The garbage disposal is brand new as of 2023. For outdoor lovers, you’ll appreciate that the beautiful sugar sand beaches are just 1.8 miles away, with the convenience of nearby shopping, public transit, Walmart, and the VA hospital making daily life a breeze. This home offers a rare combination of space, style, and serenity, all just minutes from the coast. With an abundance of modern updates and a prime location, it’s move-in ready and waiting for you. Don’t miss the chance to see this hidden gem—schedule a private showing today!
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Location
Property Details
Parking
- Description: Boat, Driveway
- Details: Driveway, On Street, Open
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 4
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Concrete Block
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Shingle
HOA
- Association: None
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 033115057960000110
- Lot Size: 15346 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 1952
Tax Information
- Annual Tax: $3,833
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$623
- Cap Rate
- 4.5%
- Cash-on-Cash Return
- -7.2%
- Debt Coverage Ratio
- 0.73
- Internal Rate of Return (5 years)
- -3.0%
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:
| $449,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$359,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $89,980 |
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:
| $13,497 |
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:
| $103,477 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,414 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $318 |
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:
| $2.05 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $359,920 |
|---|---|
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:
| 6.625% |
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:
| $2,305 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $319 |
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:
| $203 |
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:
| $2,827 |
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:
| $2,900 | $34,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$174 | -$2,088 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,726 | $32,712 |
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. | 11% | -$319 | -$3,833 |
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% | -$203 | -$2,436 |
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% | -$232 | -$2,784 |
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% | -$145 | -$1,740 |
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% | -$145 | -$1,740 |
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 | 36% | -$1,044 | -$12,533 |
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:
| $1,682 | $20,184 |
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. | -$2,305 | -$27,660 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$623 | -$7,476 |