$524,900
Investment Summary
- Monthly Cash Flow
- -$1,478
- Cap Rate
- 2.9%
- Cash-on-Cash Return
- -14.7%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -10.2%
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
Panoramic Water & Golf Views await you in this wonderful 2,011 SQFT 3 Bedroom, Pool home nestled within the amenity rich community of HERON CREEK GOLF & CLUB.*No CDD FEES * LOW HOA Dues*Flood Zone X **(flood insurance not required by lenders) Premium homesite with super location just a quick cart ride or walk to the Clubhouse and easy access to the main gate. With a NEW BARREL TILE ROOF (2024), Arched Window & Open Portico this home embodies a quintessential Spanish Mediterranean design. No Cookie Cutter home here In fact, she has a unique style all her own. Colorful, tropical landscaping and native palms adorn the front yard and line the arched entry walkway. There is a delightful open porch at the front of the house where you can enjoy a cup of coffee “alfresco” and watch the sun rise.This ONE-OWNER Nohl Crest 3 bedroom 2 bath residence was designed with both comfort and privacy in mind. The rarely available Augusta model boasts over 2000 square feet under air and is well suited for easy living and entertaining alike. Upon entering through double glass doors, you will be captivated by the sweeping water & golf views. The thoughtful design of this home maximizes those views with cascading glass doors from all the living areas, and Master bedroom and this leaves the entire home awash in natural light. The Augusta floor plan features a foyer entry, a casual living and dining area ideal for entertaining family & friends, At the heart of the home is the open concept kitchen & family room, seamlessly connecting indoor & outdoor living. The kitchen has a breakfast bar, granite countertops w/ mosaic tile backsplash, closet pantry, maple cabinetry, stainless appliances , NATURAL GAS RANGE & a sun-filled dinette. The split floor plan is perfect for those who value their personal space a & offers privacy for both owners and guests. There are 2 guest bedrooms & a shared bath at the front of the home. Bed 3 has a large arched window with amazing light which makes a perfect home office or perhaps your own Jewelry Design/Art studio?? (as seen here). The main bedroom boasts lovely views and has sliding glass door to access the pool & lanai, an en-suite bath w/a garden tub, and 2 walk-in closets. The home envelopes the fabulous pool/ lanai which is like your own personal oasis. The CLEAR-VIEW cage provides an unobstructed view of the long lake and lush fairway of #1 of the Marsh course. In the evening this is the perfect place to wind down, watch mother nature paint the sky and marvel at the pageantry of all the native birds and wildlife. This well loved home has a soothing relaxed energy about her. Life is short so don’t let the sun set on your dreams of owning your piece of paradise. This home can be offered furnished if you would like a move in ready opportunity. Heron Creek Golf & CC offers a spectacular clubhouse, an amazing array of social activities, 27-hole Authur Hills championship golf course & practice facility, Tennis, fitness center & resort style pool. Required membership starting as low as 268/month. HOA fees INC: All ground maintenance, irrigation, Cable, High Speed Internet & guarded gate entry! Hurry "Nothing Compares" the only thing this home is missing is you! Heron Creek is centrally located w/ easy access to I-75, only 3 miles to the new 450 Million state of the art SMH Hospital coming to Sumter and 1-75, COSTCO, trendy Wellen Park, the Braves stadium , gulf beaches & local airports .
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Location
Property Details
Parking
- Description: Attached Garage
- Details: Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 8
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Hip
- Roof Material: Tile
- Pool: Yes
HOA
- Has HOA: Yes
- Association: AMI TARA HINZE
- HOA Fee: $1,202/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0991010170
- Lot Size: 6240 sqft
Property Information
- Property Type: Single Family Residence
- Style: Florida
- Year Built: 2001
Tax Information
- Annual Tax: $5,711
Utilities
- Water & Sewer: Public
- Heating: Electric
- Cooling: Central Air
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,478
- Cap Rate
- 2.9%
- Cash-on-Cash Return
- -14.7%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -10.2%
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:
| $524,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$419,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $104,980 |
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:
| $15,747 |
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:
| $120,727 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,011 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $261 |
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:
| $1.54 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $419,920 |
|---|---|
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:
| 6.810% |
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:
| $2,740 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $476 |
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:
| $217 |
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:
| $3,433 |
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:
| $3,100 | $37,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$186 | -$2,232 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,914 | $34,968 |
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. | 15% | -$476 | -$5,712 |
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% | -$217 | -$2,604 |
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% | -$248 | -$2,976 |
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% | -$155 | -$1,860 |
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% | -$155 | -$1,860 |
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. | 13% | -$401 | -$4,812 |
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 | 53% | -$1,652 | -$19,824 |
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:
| $1,262 | $15,144 |
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. | -$2,740 | -$32,880 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,478 | $17,736 |