$1,149,000
Investment Summary
- Monthly Cash Flow
- -$2,941
- Cap Rate
- 3.1%
- Cash-on-Cash Return
- -13.4%
- Debt Coverage Ratio
- 0.50
- Internal Rate of Return (5 years)
- -8.9%
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
PRICE IMPROVEMENT! Come and see this BEAUTIFULLY UPDATED POOL HOME located in the GATED COMMUNITY of Bayside with BAY & GULF ACCESS! Looking for a home without any work to do? This is it! The owners have meticulously maintained and updated this home in the last 2 years with OVER $150K IN UPGRADES & IMPROVEMENTS. Turn key ready, with 5 bedrooms plus a den/office, 3 full baths and an over-sized 3 car garage WITH BRAND NEW IMPACT GARAGE DOORS. Situated on nearly a 1/2 ACRE CORNER LOT, with a circular driveway and SIDE LOAD GARAGE, it is one of the largest lots in the community. The moment you enter, you will love how light and bright the home is with the OPEN FLOOR PLAN and view of the sparkling pool and LUSH LANDSCAPING, giving it a tropical feeling of casual elegance. The formal living room and dining area are spacious and inviting, with a built-in wet bar and WINE REFRIGERATOR for easy entertaining. The den/office area is just off the front entrance and is currently being used as a more intimate dining area. To the left of the front door, you will find a half bath, coat closet, and entrance to the owner's suite. The owner's suite is spacious, and separate from the rest of the bedrooms, with awesome views of the outside & access to the pool area. Featuring 2 walk in closets, a private ensuite, with a large shower, garden tub, double vanity and make up area. The NEW KITCHEN is absolutely fabulous with the NEWEST TRENDING NATURAL TONES paired with whites and grays, giving it a modern yet organic feel. You have to see it in person to appreciate it! Talk about the wow factor! Cabinetry goes all the way to the ceiling for ultimate use of space, and all oversized SOFT CLOSE DRAWERS underneath countertops. All NEW CAFE SS APPLIANCES, pendant lighting, under cabinet lighting, tile backsplash, and CENTER ISLAND with plenty of bar seating and a breakfast nook for additional seating. The kitchen is open to the large family room with a WOOD BURNING FIREPLACE, and overlooks the pool area. The other 4 bedrooms are located on this side of home around family room with 2 full size baths in between. Very well thought out floorplan, with each area of the home having pocketing doors, so that you may close off any section for more privacy as needed. This luxurious home is almost completely surrounded by glass sliding doors that pocket open to let the outdoors in, and enjoy your sparkling pool and view. The NEWLY SCREENED IN POOL (2022) is surrounded by TRAVERTINE PAVERS and has a BRAND-NEW POLARIS SYSTEM, FILTER, NEW HEATER (2022) & pre-plumbed for outdoor kitchen. The fenced in backyard has an outside patio area for alfresco dining or sunning and lots of room for your fur babies to run around. So many UPGRADES in this home to mention including: NEW ROOF 2022, 2 NEW HVAC (2022 & 2025) INTERIOR/EXTERIOR PAINT, NEW SPRINKLER SYSTEM, LANDSCAPING, GUTTER SYSTEM & MORE! Ask for our feature list! If you are a boater and want access to the waterways without the waterfront price tag, ASK US ABOUT OUR AVAILABLE OPTIONS TO PURCHASE OR RENT A BOAT SLIP IN THE COMMUNITY! Bayside is in a great location within minutes to the airport, downtown, and beaches. Easy access to both sides of the bay! Lots of neighborhood fun with boat parades, year-round events, & yacht club for only $150 per family (No boat required)! EXCELLENT SCHOOLS including Berkeley Prep only 5 mins away! Come and see what a great place this would be to call home! NO FLOODING/ DAMAGE FROM HURRICANES.
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Location
Property Details
Parking
- Description: Circular Driveway, Garage Door Opener, Garage Faces Side, Oversized, Parking Pad, Workshop in Garage
- Details: Circular Driveway, Garage Door Opener, Garage Faces Side, Oversized, Parking Pad, Workshop in Garage, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Partial): 1
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 11
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Tile
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Greenacre Properties / Ray Leonard
- HOA Fee: $1,557/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: U0329170FU000001000130
- Lot Size: 15820 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 1993
Tax Information
- Annual Tax: $16,088
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Hillsborough
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,941
- Cap Rate
- 3.1%
- Cash-on-Cash Return
- -13.4%
- Debt Coverage Ratio
- 0.50
- Internal Rate of Return (5 years)
- -8.9%
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:
| $1,149,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$919,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $229,800 |
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:
| $34,470 |
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:
| $264,270 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,134 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $367 |
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:
| $2.04 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $919,200 |
|---|---|
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:
| 6.625% |
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:
| $5,886 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,341 |
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:
| $7,675 |
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. | 21% | -$1,341 | -$16,088 |
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. | 2% | -$130 | -$1,560 |
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 | 48% | -$3,071 | -$36,848 |
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:
| $2,945 | $35,340 |
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. | -$5,886 | -$70,632 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $2,941 | $35,292 |