$694,999
Investment Summary
- Monthly Cash Flow
- -$1,913
- Cap Rate
- 2.8%
- Cash-on-Cash Return
- -14.4%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -9.9%
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
Welcome to a single-story, 3-bedroom, 2-bathroom home in the highly desirable MiraBay community! This beautifully designed Ashton Woods custom-built home is filled with upgrades, and a backyard oasis that will make every day feel like vacation. With a brand-new roof (2025), and a luxurious pool area, this home is move-in ready! From the moment you walk through the front door, you are greeted by a striking arched hallway that leads into the spacious, open living areas. The home’s ceramic tile flooring flows seamlessly through all common areas. The separate dining area and breakfast nook allows for plenty of space for meals, entertaining, or simply enjoying a morning coffee. This kitchen is designed for both beauty and function. Granite countertops for a luxurious and durable workspace,Custom tile backsplash adding a stylish touch,Whirlpool stainless steel appliances, Deep double stainless steel sink for easy cleanup. With an open-concept design, the kitchen flows effortlessly into the living and dining areas, creating the perfect space for gathering and entertaining. Retreat to the spacious primary suite, features a tray ceiling, ceiling fan, and a large walk-in closet. The en-suite bathroom is designed for comfort, boasting a soaking tub, a walk-in shower, and dual sinks. A unique feature of this homes the attached office/nursery space, conveniently located off the kitchen. Whether you need a quiet workspace or a cozy retreat, this extra space offers flexibility to suit your needs. Two additional bedrooms with LVP flooring provide comfort and style. The large laundry room comes equipped with a washer and dryer, adding convenience to your daily routine. Step outside and experience the ultimate Florida lifestyle with this backyard oasis. The screened lanai and pool cage feature built-in lighting, making it easy to enjoy the outdoors any time of day. The large,16X30, pool boasts a sun shelf with fountains, pool heater,offering a perfect place to relax and soak up the sunshine. The backyard is designed for beauty and low maintenance, featuring: Turf grass in the backyard for easy upkeep,Pavers surrounding the pool area for a polished look,Pool alarms and a child barrier for added safety,With a fully fenced backyard, this space offers privacy and tranquility, making it ideal for relaxation or entertaining. This home is not just beautiful—it’s packed with smart upgrades that enhance comfort and convenience: In-home pest control system for year-round protection,2-car garage with an epoxied floor for durability and style,Screened garage door to allow airflow while keeping pests out, upgraded LiftMaster garage opener with auto-lock for security and ease of use. This home is located in the Beautiful waterfront, resort-style community of MiraBay!!!! This resort-style community has a community clubhouse, heated-resort-style Olympic swimming pool, 136 ft water slide, parks, 3 playgrounds, gym, cafe with a full liquor license, basketball courts, tennis courts, fitness center, 135-acre lagoon where you can rent kayaks and paddle away, and much, much more. You will feel like you’re living in a 5-star resort! This community has it all. This home is centrally located and convenient to Tampa, Orlando, Bradenton, Sarasota, and St. Petersburg where you can experience the best Florida beaches, shopping, and entertainment. The Florida lifestyle you've been dreaming of awaits you. Paradise awaits! Call today for your private showing.
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Location
Property Details
Parking
- Description: Garage
- Details: Driveway, Garage Door Opener, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 6
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Shingle
- Pool: Yes
HOA
- Has HOA: Yes
- Association: LESLY CANDELIER
- HOA Fee: $172/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: U32311962G00006B000480
- Lot Size: 8220 sqft
Property Information
- Property Type: Single Family Residence
- Style: Key West
- Year Built: 2012
Tax Information
- Annual Tax: $6,564
Utilities
- Water & Sewer: Public
- Heating: Central, Natural Gas
- Cooling: Central Air
Location
- County: Hillsborough
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,913
- Cap Rate
- 2.8%
- Cash-on-Cash Return
- -14.4%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -9.9%
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:
| $694,999 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$555,999 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $139,000 |
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:
| $20,850 |
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:
| $159,850 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,188 |
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:
| $1.46 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $555,999 |
|---|---|
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:
| $3,560 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $547 |
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:
| $224 |
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:
| $4,331 |
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:
| $3,200 | $38,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$192 | -$2,304 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,008 | $36,096 |
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. | 17% | -$547 | -$6,564 |
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% | -$224 | -$2,688 |
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% | -$256 | -$3,072 |
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% | -$160 | -$1,920 |
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% | -$160 | -$1,920 |
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. | 0% | -$14 | -$168 |
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 | 43% | -$1,361 | -$16,332 |
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:
| $1,647 | $19,764 |
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. | -$3,560 | -$42,720 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,913 | $22,956 |