$1,295,000
Investment Summary
- Monthly Cash Flow
- -$1,869
- Cap Rate
- 4.5%
- Cash-on-Cash Return
- -7.5%
- Debt Coverage Ratio
- 0.72
- Internal Rate of Return (5 years)
- -3.3%
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
Make Every Day Feel Like a Vacation in Your Own Waterfront Paradise Retreat! This MOVE IN READY and beautifully updated 4-bedroom, 3-full-bath home is a true gem located in the highly sought-after Crystal Island neighborhood of Madeira Beach. Previously listed just a few days before Helene made her appearance and was taken off market to remediate approx. 12 inches (not multiple feet) of water intrusion. SWIFT action was taken! The home was PROFESSIONALLY REMEDIATED AND RENOVATED WITH PERMIT THAT IS NOW CLOSED resulting in a space that is EVEN better than it was before. Details of the updates can be found at the end of this description! Imagine driving your golf cart to brunch or a sunset dinner in flip-flops—this lifestyle is a normal day on the Island! You'll enjoy breathtaking sunrises in the backyard and stunning sunsets from the upper deck, all while overlooking the widest canal in Crystal Island, providing effortless boating access to the Gulf. The resort-style backyard is designed to impress, featuring professional landscaping, an elevated resurfaced pool perfectly suited for laps, a stylish tile pool deck, and an upper flat surface roof deck that’s ideal for soaking in the views at sunrise and sunset. Plus, there's a generously sized green space/park in front of the house, perfect for pets, kids, and outdoor games—without the upkeep! For boating enthusiasts, this property boasts a 13,000 lb boat lift, a 2022 built 12x30 ft composite dock, and a 2022 seawall and cap, ensuring durability and longevity with water and electric hookups readily available. The open-concept living space is designed for entertaining, featuring elegant updated travertine tile floors throughout. The large kitchen showcases wooden cabinets, brand-new stainless appliances (scheduled for delivery), granite counters, and ample storage. An updated inside laundry room offers convenience with washer/dryer hookups, storage cabinets, and granite counters. The living room flows seamlessly from the back of the home, highlighted by two impact sliding doors (scheduled for install soon), allowing you to soak in the picturesque outdoor views. With four bedrooms—two of which have ensuite baths—there's plenty of room for family and guests. The downstairs owner’s suite features a new impact sliding door opening to the backyard/pool, along with a beautifully remodeled ensuite bathroom complete with a shower and double vanity. Two additional bedrooms downstairs share a main guest bathroom featuring a double vanity and tub. Upstairs, the fourth bedroom has its own ensuite bathroom and an updated split AC unit from 2021, providing comfort year-round. Access the expansive flat surface roof deck through the impact sliding door in this bedroom. Updates Include: 2025: New first-floor rear impact-rated sliders, impact-rated front & side door, fire rated inside garage door, lower kitchen cabinets, kitchen appliances, water heater, interior/exterior paint, new closet doors.- 2024: New roof (prior to storm).- 2023: Resurfaced pool.- 2022: Composite dock, seawall, flat surface roof deck, gutters, and backyard landscaping.- 2021: Main HVAC system, upstairs mini-split, kitchen and bath updates on the entire first floor, impact garage door and opener, front yard landscaping, sewer lateral from the house to the street, new blinds and quality flooring. This home is a must-see, showcasing unparalleled pride of ownership that is rare to find. Schedule a showing today!
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Location
Property Details
Parking
- Description: Garage
- Details: Driveway, Garage Door Opener, Guest, Off Street, On Street, Parking Pad, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 10
- # of Stories: 2
Exterior Features
- Exterior Walls Materials: Concrete Block
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Membrane, Shingle
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 103115199800000270
- Lot Size: 6900 sqft
Property Information
- Property Type: Single Family Residence
- Style: Elevated
- Year Built: 1960
Tax Information
- Annual Tax: $13,330
Utilities
- Water & Sewer: Public
- Heating: Central, Electric, Exhaust Fan, Heat Pump
- Cooling: Central Air, Ductless
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,869
- Cap Rate
- 4.5%
- Cash-on-Cash Return
- -7.5%
- Debt Coverage Ratio
- 0.72
- Internal Rate of Return (5 years)
- -3.3%
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:
| $1,295,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,036,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $259,000 |
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:
| $38,850 |
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:
| $297,850 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,986 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $652 |
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:
| $4.38 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,036,000 |
|---|---|
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:
| $6,761 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,111 |
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:
| $609 |
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:
| $8,481 |
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:
| $8,700 | $104,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$522 | -$6,264 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $8,178 | $98,136 |
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. | 13% | -$1,111 | -$13,331 |
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% | -$609 | -$7,308 |
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% | -$696 | -$8,352 |
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% | -$435 | -$5,220 |
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% | -$435 | -$5,220 |
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 | 38% | -$3,286 | -$39,431 |
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:
| $4,892 | $58,704 |
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. | -$6,761 | -$81,132 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,869 | $22,428 |