$1,999,000
Investment Summary
- Monthly Cash Flow
- -$7,581
- Cap Rate
- 1.7%
- Cash-on-Cash Return
- -19.8%
- Debt Coverage Ratio
- 0.28
- Internal Rate of Return (5 years)
- -15.1%
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
Tenant Occupied. Unique, 2-story modern European architecture overlooking a 60-acre navigable ski lake. Gulf access. Gated. Perfect for family/pets with 6 Beds, 4.5 Baths & telework. Saltwater pool. Spacious Owner’s Suite on 1st floor. Columns surround a jacuzzi bath off the formal living/dining/foyer. Decorative bronze room divider in Foyer. The other 5 bedrms are split or upstairs. A 1st floor bedrm has sliding French doors opening to Family Rm for an office. Family Rm overlooks expansive lake view. Imported Italian carved décor surrounding gas/wood fireplace, custom decorative travertine flooring. Kitchen: desk, pantry, sit-down kitchen bar & separate Drinks Bar! Use private 2nd floor 500 SF rm over garage for hobbies, theatre, or large office. It features hardwood floor & stair, custom in-laid wood décor & front exterior balcony with view on Harborage Dr. 1 of the 3 upstairs Bedrms has an en suite Lav/Toilet/Shower that functions as 2nd Master Suite with landing Wet Bar, undercounter mini fridge & wine glass holders. All 3 upstairs bedrms have access to an ext “L” shaped balcony overlooking the dramatic rear lake view & pool. Ornate decorative oil-rubbed bronze double entry doors with sidelights & arch. 5 outdoor travertine steps & decorate cement balustrade handrails. Plantation shutters. 8’ high interior doors. Wall moldings. Central vacuum. Impact glass on windows & doors in the new addition. Some original windows & doors are not impact rated. All hard surfaced flooring of travertine, tile or hardwoods. 9 custom ceiling fans, 3 custom formal chandeliers. Pool/Spa Combo with waterfall & electric pool heater. New pool deck. Dry Sauna, outdoor shower & Pool Toilet/Sink off the rear pool patio. SS Thermador sub-zero fridge, microwave, wall oven & warmer. Bosch dishwasher. New private, deeded boat dock in your back yard! Sandy, sloped lake-side shoreline. Community amenities include everything you need to entertain the young-to-old: gated security, boat storage area, tennis, pickle ball, basketball, pool, playground, gazebo with BBQ & covered picnic area, lake beach, & jogging trail. Fishing, boating, jet skis, skiing, kayaking, paddleboards, canoeing. Possible RV storage, but boats take priority. Some amenities are in the repair/update process. Large metal security gates in process. 104 acres of total lakes. 3 community boat launches; 2 launches for the 2 lakes, 1 launch with direct gulf access via Estero Bay & Mullock Creek. About 20 min to the gulf to explore the sunny, white sand tropical islands & waterfront restaurants of Lee County by boat! Low HOA fee. 3 zoned air-conditioning units 2014. Original structure 1990. Tile Roof 2002 AND major addition & upgrades; architecture plans available. Appliance repair contract included. The home is occupied. Video/audio recording on premises. Virtual showing by videos are available.
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Location
Property Details
Parking
- Description: Attached, CircularDriveway, Deeded, Driveway, Garage, Paved, TwoSpaces, GarageDoorOpener
- Details: Attached, Circular Driveway, Deeded, Driveway, Garage, Paved, Garage Door Opener
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 6
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Partial): 1
- # of Baths (Total): 5.0
Interior Features
- # of Stories: 2
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Raised
- Roof Type: IRR/Cathedral
- Roof Material: Tile
- Pool: Yes
HOA
- Has HOA: Yes
- HOA Fee: $3,800/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0746250500000.0430
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Contemporary, Other, Two Story, See Remarks
- Year Built: 1991
Tax Information
- Annual Tax: $14,538
Utilities
- Water & Sewer: Public
- Heating: Central, Electric, Zoned
- Cooling: Central Air, Ceiling Fan(s), Electric, Gas, Zoned
Location
- County: Lee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$7,581
- Cap Rate
- 1.7%
- Cash-on-Cash Return
- -19.8%
- Debt Coverage Ratio
- 0.28
- Internal Rate of Return (5 years)
- -15.1%
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:
| $1,999,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,599,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $399,800 |
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:
| $59,970 |
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:
| $459,770 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,327 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $462 |
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:
| $1.48 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,599,200 |
|---|---|
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:
| 6.840% |
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:
| $10,468 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,212 |
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:
| $448 |
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:
| $12,128 |
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:
| $6,400 | $76,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$384 | -$4,608 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $6,016 | $72,192 |
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. | 19% | -$1,212 | -$14,538 |
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% | -$448 | -$5,376 |
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% | -$512 | -$6,144 |
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% | -$320 | -$3,840 |
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% | -$320 | -$3,840 |
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. | 5% | -$317 | -$3,804 |
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 | 49% | -$3,129 | -$37,542 |
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:
| $2,887 | $34,644 |
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. | -$10,468 | -$125,616 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $7,581 | $90,972 |