$486,000
Investment Summary
- Monthly Cash Flow
- -$1,872
- Cap Rate
- 1.5%
- Cash-on-Cash Return
- -20.1%
- Debt Coverage Ratio
- 0.25
- Internal Rate of Return (5 years)
- -15.4%
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
5355 Cobblestone court is waiting for you and your personal touches. This home is a 3-bedroom 3-bath ranch, ideally located in a peaceful, serene cul de sac with a spacious sunroom bathed by natural light originating from large screened windows and skylights overlooking a spacious common green area. The sunroom size accomodates either a billiard or ping pong table and exercise area but also is a wonderful space that can double as an office or sitting room. The large living room has a gas fireplace and high ceilings, flooded by natural light and a bay window with plantation shutters overlooking the backyard and patio area. The kitchen features granite counter tops, a large single-tub stainless steel sink and a reverse osmosis system that conveniently feeds the refrigerator's icemaker. Appliances are less than 3 years old and include a stainless steel refrigerator, induction stove, dishwasher and microwave. Adjacent to the kitchen is a large pantry closet and laundry area with new washer-dryer tower and laundry sink. The master suite has high ceilings, one large walk-in closet and two additional closets, plantation shutters in a bay window. The bedroom is adjoined by a master bath with tile floors, granite countertops, a jetted bathtub, and a separate shower. Low VOC Luxury vinyl flooring was installed within 3 years except for tile floors which grace the kitchen and bathrooms. Formal and casual dining space is open to the kitchen, living room, and sunroom, fostering a congenial atmosphere for sharing with family and friends. The garage has room for 2 cars plus a golf cart and includes a closet plus cabinets for storage. New owners will also enjoy the security of having a whole house free-standing generator. In addition, the sunroom has hurricane shutters in all the large windows for when you travel and during stormy weather, which is a plus on your insurance policy. Come tour this one-story home now. The community swimming pool is a block away and is so nice to take walks around all the neighborhoods too. You will see bikers, walkers, golf carts going by and it is a great way to stop and meet your neighbors. The cluster home maintenance fee includes hazard insurance, building maintenance, painting, roof repair and replacement, lawn mowing, trimming shrubs, irrigation, road maintenance, street lighting, trash pickup, pool maintenance, and club house maintenance too. Owning a cluster home makes life easier so families can enjoy life and Saddlebrook's amenities as well as travel without having to do the weekly jobs that owning a single family home demands. Close to I-275 where getting anywhere is possible within 45 minutes or less, you have grocery stores, outlets, shopping malls, hospitals, clinics, dentists, pet hospitals, pet grooming, optometrists, car dealerships, repair shops, theaters, entertainment parks, beaches, lakes, fishing spots, lagoons, airplane hangars, golf courses, tennis courts, pickle ball courts, hockey rings, colleges, and so much more! What do you think of Saddlebrook Resort where this home is located in the residential area where there are expansive properties with lots of trees, water, and wildlife providing a natural preserve. For those who desire immediate access to the amenities like golf, tennis, and pickleball, a club membership at the resort is available with a one-time initiation fee of $15K plus tax and quarterly dues of $885. plus tax. Call me to make an appointment to view your next home.
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Location
Property Details
Parking
- Description: Driveway, Golf Cart Garage, Golf Cart Parking, Oversized
- Details: Covered, Deeded, Driveway, Garage Door Opener, Garage Faces Side, Golf Cart Garage, On Street, Oversized, Parking Pad, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 7
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Other
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Metal
HOA
- Has HOA: Yes
- Association: MABEL CORCUERA
- HOA Fee: $3,273/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0826200060000000240
- Lot Size: 7893 sqft
Property Information
- Property Type: Single Family Residence
- Style: Contemporary, Courtyard
- Year Built: 1990
Tax Information
- Annual Tax: $5,159
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air, Humidity Control
Location
- County: Pasco
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,872
- Cap Rate
- 1.5%
- Cash-on-Cash Return
- -20.1%
- Debt Coverage Ratio
- 0.25
- Internal Rate of Return (5 years)
- -15.4%
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:
| $486,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$388,800 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $97,200 |
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:
| $14,580 |
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:
| $111,780 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,441 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $199 |
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:
| $1.27 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $388,800 |
|---|---|
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:
| $2,490 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $430 |
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:
| $3,137 |
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. | 14% | -$430 | -$5,159 |
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. | 35% | -$1,091 | -$13,092 |
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 | 74% | -$2,296 | -$27,551 |
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:
| $618 | $7,416 |
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. | -$2,490 | -$29,880 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$1,872 | -$22,464 |