$579,000
Investment Summary
- Monthly Cash Flow
- -$1,384
- Cap Rate
- 3.3%
- Cash-on-Cash Return
- -12.5%
- Debt Coverage Ratio
- 0.53
- Internal Rate of Return (5 years)
- -8.1%
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
**BUYER CANCELLED! PRETTY CLEAN INSPECTION DONE TOO! THEIR LOSS-YOUR GAIN!** Apollo Beach Perfection in Gated Bimini Bay! Welcome to this impeccably maintained 4-bedroom, 2.5-bath, 2-story pool home! 2,326 sq. ft. of refined living space, perfectly positioned on a lushly landscaped corner lot! From the paver driveway & metal roof, to the vibrant tropical curb appeal, this home exudes quality and pride of ownership! Step inside to the inviting foyer & split-level stairs to this gorgeous home’s interior! With gleaming travertine tile throughout the entire home to the soaring ceilings, it’s a layout designed for both everyday comfort and entertaining! The spacious kitchen is a chef’s delight, offering quartz countertops, 42" wood upper cabinetry with crown molding & under-cabinet lighting, a farmhouse sink, Whirlpool stainless steel appliances, a breakfast bar, and an abundance of prep space! French doors provide access to one of the upper balconies, allowing for fresh air, cool breezes, and natural light! The upper-level living room flows seamlessly to a large rear balcony through triple glass sliders, framing views of the newly built heated saltwater pool, spillover spa, vinyl privacy fenced backyard & lush landscaping! Here, you can enjoy breathtaking sunrises and sunsets with the ideal north-facing rear and sweeping sun exposure! Equipped with (2) electric, remote-controlled, SPF roll-up screens, creating a comfortable spot to relax & enjoy year-round! The primary suite, also with rear balcony access through double glass sliders, is a private retreat featuring a custom wood closet system with an expansive dedicated shoe rack, and a spa-like ensuite bath with dual sinks, a garden tub, a private water closet, and a beautiful tumbled travertine walk-in shower! A 2nd upper level bedroom wood make an ideal office for your work or study, and also features a French Door opening to another balcony! There's also a convenient powder bath for your holiday, dinner, and party guests, as well as a laundry room (2025 LG dryer & 2023 LG washer included!) with direct access to the primary suite for even more added convenience! The lower level offers a spacious 300SqFt (20x15) great room that opens directly through triple glass sliders as well, onto the covered lanai, pool, and pool deck! This additional superb relaxation spot ALSO is equipped with (2) of those electric remote-controlled SPF screens! Two additional generously sized secondary bedrooms share a full bath with direct pool access, making it a perfect layout for guests or multi-generational living! Some of the numerous, and I mean NUMEROUS, other recent updates & additions include: new attic insulation, gutters & downspouts, all new window screens, updated lighting and bath fixtures, an EV NEMA 14-50 charging outlet, new garbage disposal, undercabinet lighting, and all new kitchen receptacles! Too much even to list here!! Living in coveted Bimini Bay means you get to enjoy gated security, and a community clubhouse & pool, all within minutes of everything captivating Apollo Beach has to offer! Marinas, waterfront dining, shopping, golfing, parks & recreation, Apollo Beach Waterfront Nature Preserve, and easy access to Tampa Bay, Sarasota’s award-winning beaches and beyond! Host poolside gatherings or BBQ’s, savor a quiet cup of coffee or a cocktail on one of the balconies, or take a walk through this peaceful neighborhood! This home offers you the ultimate Florida lifestyle!
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Location
Property Details
Parking
- Description: Driveway, Garage Door Opener, Off Street, Split Garage
- Details: Driveway, Garage Door Opener, Garage, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 13
- # of Stories: 2
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Metal
- Pool: Yes
- Pool Community: Yes
HOA
- Has HOA: Yes
- Association: Melissa Howell
- HOA Fee: $479/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: U21311979K000002000160
- Lot Size: 7757 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2007
Tax Information
- Annual Tax: $8,903
Utilities
- Water & Sewer: Public
- Heating: Central, Electric, Heat Pump, Zoned
- Cooling: Central Air, Zoned
Location
- County: Hillsborough
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,384
- Cap Rate
- 3.3%
- Cash-on-Cash Return
- -12.5%
- Debt Coverage Ratio
- 0.53
- Internal Rate of Return (5 years)
- -8.1%
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:
| $579,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$463,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $115,800 |
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:
| $17,370 |
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:
| $133,170 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,326 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $249 |
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:
| $1.55 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $463,200 |
|---|---|
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:
| $2,966 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $742 |
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:
| $252 |
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:
| $3,960 |
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:
| $3,600 | $43,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$216 | -$2,592 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,384 | $40,608 |
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% | -$742 | -$8,903 |
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% | -$252 | -$3,024 |
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% | -$288 | -$3,456 |
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% | -$180 | -$2,160 |
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% | -$180 | -$2,160 |
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. | 4% | -$160 | -$1,920 |
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 | 50% | -$1,802 | -$21,623 |
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:
| $1,582 | $18,984 |
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. | -$2,966 | -$35,592 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,384 | $16,608 |