$4,999,777
Investment Summary
- Monthly Cash Flow
- -$23,440
- Cap Rate
- 0.6%
- Cash-on-Cash Return
- -24.5%
- Debt Coverage Ratio
- 0.10
- Internal Rate of Return (5 years)
- -19.6%
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
LOCATION, LOCATION, LOCATION !!! Live like a Lottery Winner on the Crystal Sands & Aqua Waters of Siesta Key. Literally, You can walk one block to be with the playful dolphins at the #1 Beach in the USA, or out your back door, to spend the day on the Intercoastal Waterway or the Gulf of America with two boats on lifts, and/or fish off the dock and watch Manatees in the Grand Canal. This is not simply the best location, but this custom-built in 2016 West Indies style home is a fortress all on one level, and is well above flood plain. “High and dry” through the "storms of the century" in 2024. Beautiful, engineered hardwood floors, Custom trim and many unique and interesting and unusual design features make this home special indeed! Everything has been freshly painted inside & out. Custom cabinetry and built-ins abound, as well as several new appliances, including a True Ice Maker to augment your beach, pool, boat and sunset happy hour. Three large En-suite Bedrooms. Four full Baths, a Den/Office convertible as an 4th bedroom with murphy bed, an Open Concept Family room, Dining room & Kitchen, and an extra-large Great Room make living spacious and easy. Also, large sliding glass doors extend living spaces to a huge, roofed and open screened Lanai which adds tons of shaded and sunny living space. All hurricane rated extra heavy duty PGT doors and windows, with many casement opening windows for those spring, fall and winter “open window/curtain blowing” gulf breeze days. The 3-car garage with a beautiful and durable epoxy floor has a very high ceiling which allows 2 more cars to be added on lifts for a total of 5 vehicles for the enthusiast. Climate controlled enclosed attic storage is available above the rear part of the garage. Both air conditioning systems, hot water heater, refrigerator and ice maker have been replaced in past year. The Large free form pool and spa have brand new high-end WIFI controllable Pentair pool pump & heater & auto chlorinator. Both Boats as well as Professional Decorator staged furniture, decor and pictures may be available for separate purchase for a "Turn-Key" easy move-in. The 3-car garage with an epoxy floor has a very high ceiling which allows 2 more cars to be added on lifts for a total of 5 vehicles for the enthusiast. Climate controlled enclosed attic storage is available above the rear part of the garage. Both air conditioning systems and hot water heater replaced in past year. The large free form pool and spa have new high end Pentair pool pump & heater & auto chlorinator. Both boats as well as professional Decorator staged furniture, decor, and pictures may be available for separate purchase for "Turn-Key" possession.
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Location
Property Details
Parking
- Description: Attached Garage
- Details: Circular Driveway, Driveway, Garage Door Opener, Oversized, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 14
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Block, Slab
- Roof Type: Hip
- Roof Material: Concrete, Tile
- Pool: Yes
HOA
- Has HOA: Yes
- Association: FLA Prop Mgt Svcs.
- HOA Fee: $200/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0082150032
- Lot Size: 16163 sqft
Property Information
- Property Type: Single Family Residence
- Style: Coastal, Custom
- Year Built: 2016
Tax Information
- Annual Tax: $32,419
Utilities
- Water & Sewer: Public
- Heating: Electric, Heat Pump, Zoned
- Cooling: Central Air, Humidity Control, Zoned
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$23,440
- Cap Rate
- 0.6%
- Cash-on-Cash Return
- -24.5%
- Debt Coverage Ratio
- 0.10
- Internal Rate of Return (5 years)
- -19.6%
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:
| $4,999,777 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$3,999,822 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $999,955 |
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:
| $149,993 |
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:
| $1,149,948 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,654 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,368 |
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:
| $2.13 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $3,999,822 |
|---|---|
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:
| $26,103 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $2,702 |
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:
| $546 |
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:
| $29,351 |
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:
| $7,800 | $93,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$468 | -$5,616 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $7,332 | $87,984 |
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. | 35% | -$2,702 | -$32,419 |
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% | -$546 | -$6,552 |
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% | -$624 | -$7,488 |
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% | -$390 | -$4,680 |
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% | -$390 | -$4,680 |
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. | 0% | -$17 | -$204 |
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 | 60% | -$4,669 | -$56,023 |
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:
| $2,663 | $31,956 |
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. | -$26,103 | -$313,236 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $23,440 | $281,280 |