$388,000
Investment Summary
- Monthly Cash Flow
- -$452
- Cap Rate
- 4.8%
- Cash-on-Cash Return
- -6.1%
- Debt Coverage Ratio
- 0.77
- Internal Rate of Return (5 years)
- -1.9%
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
Home improvements: Roof 2020 AC 2014 Hot Water Heater 2014. TRANSFERABLE Broward Home Warranty. Home painted (2020) In 2021: Ducts cleaned, new garage door, ($2000!) water filtration system ($7000 value!), plumbing repiped through the home ($10,000). Septic pumped in 2024. Especially relevant for those with allergies or asthma who need better air quality-Stanley Steamer Restore UV light system installed in 2022($1200). All these additional items make this home a better choice over new with all the mature landscaping that makes the entire neighborhood feel like home! Can it get any better! Maybe...check out the updates INSIDE the home! There is nothing you need to do but move in (especially if you are in love with the furniture and decor which is available separately!). The light-colored Granite and quartz counters throughout the home add to the light, bright feel that everyone is looking for but is so hard to find! Continuous vinyl plank floor in every room seems to increase the sq footage giving the illusion that there is even more than 2019 sq foot. The open area of the dining room and living room, when entering the home contributes to the open floor plan in which the kitchen overlooks a large family room. The spectacular feature wall with shiplap and an electric fireplace ($2000) is a great area to get cozy and feel the ambiance created! The bonus room (not included in sq ft) has so many possibilities depending on your needs. Updates in the primary bathroom include resurfacing of the shower (with warranty)shiplap & paint($4000)! Bedrooms 2&3 with the guest bath are located on the opposite side of the home from the Primary bedroom for the utmost privacy. Outside living is turned up on this home! The twinkle lights in the screened lanai really set the mood for a relaxing evening when the weather is cooler to enjoy Florida at its best! Those magnificent mature trees even allow you to enjoy this outdoor area, including the paved patio when it is a little warmer outside! This is such a great place to relax, read a book or enjoy company with friends and family! The side yard gives so much more outdoor space than the average home site for you and/or your family to enjoy especially with the shade provided so it’s cooler year-round! This is the only homesite in the neighborhood with a side entry garage! This gives you more driveway space that is so convenient, especially if you have more than two cars. There is ample space to park a vehicle away from the house with plenty of room to maneuver cars out of the garage without needing to play the infamous game: "Hey, can you move your car!” HOA of $77/month which includes a manned gate! Residents may choose to become social members at the clubhouse for an additional fee. There is even a playground on the clubhouse grounds! Please call clubhouse for information on packages available depending on what features you would like to enjoy such as pickleball, tennis, indoor racquetball, sauna and weight room. The breathtaking views overlooking lake griffin from the gorgeous pool might alone just be with the membership! If you would rather be on the lake than observing the view, there is also an opportunity to use the marina! The clubhouse restaurant is just perfect for your needs after golfing, swimming or boating. If you decide to take advantage of the activities at the clubhouse there are several to choose from! All information deemed reliable but should be independently verified.
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Location
Property Details
Parking
- Description: 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: 10
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Brick Veneer
- Foundation: Slab
- Roof Material: Shingle
HOA
- Has HOA: Yes
- Association: JASO SACKMANN
- HOA Fee: $231/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 131824040000007300
- Lot Size: 14282 sqft
Property Information
- Property Type: Single Family Residence
- Style: Florida
- Year Built: 1998
Tax Information
- Annual Tax: $3,832
Utilities
- Water & Sewer: Private
- Heating: Electric
- Cooling: Central Air
Location
- County: Lake
Listing Details
Investment Summary
- Monthly Cash Flow
- -$452
- Cap Rate
- 4.8%
- Cash-on-Cash Return
- -6.1%
- Debt Coverage Ratio
- 0.77
- Internal Rate of Return (5 years)
- -1.9%
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:
| $388,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$310,400 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $77,600 |
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:
| $11,640 |
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:
| $89,240 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,844 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $210 |
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:
| $1.52 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $310,400 |
|---|---|
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:
| $1,988 |
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:
| $196 |
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:
| $2,503 |
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:
| $2,800 | $33,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$168 | -$2,016 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,632 | $31,584 |
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 | -$3,832 |
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% | -$196 | -$2,352 |
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% | -$224 | -$2,688 |
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% | -$140 | -$1,680 |
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% | -$140 | -$1,680 |
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. | 3% | -$77 | -$924 |
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 | 39% | -$1,096 | -$13,156 |
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:
| $1,536 | $18,432 |
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. | -$1,988 | -$23,856 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $452 | $5,424 |