$859,000
Investment Summary
- Monthly Cash Flow
- -$1,816
- Cap Rate
- 3.7%
- Cash-on-Cash Return
- -11.0%
- Debt Coverage Ratio
- 0.60
- Internal Rate of Return (5 years)
- -6.7%
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
RENOVATED, WATERFRONT HOME IN BURNT STORE ISLES W/***NEW TILE ROOF*** & SAIL ACCESS - This beautiful, 3 bed/2 bath + den, waterfront home in Burnt Store Isles was completely renovated in 2018 w/all new porcelain tile throughout, all new kitchen & baths, all new storm rated front doors, PGT impact-resistant windows & sliding glass doors plus resurfaced pool & new pavers on pool deck. Interior of the home boasts a spacious, open floor plan w/formal living room, den, & large family room. Centrally located kitchen offers quartz counters, wood cabinetry, stainless steel appliances, glass tile back splash, pendant lighting over the breakfast bar, closet pantry & ample cabinet & counter space. Large family room is perfect for entertaining friends & family. The living room, breakfast area, family room & master suite all open to the lanai extending the living space outside. Pool & canal views offered from almost every room in the home. Owner's suite has two large walk-in closets w/custom shelving & gorgeous master bath w/dual sinks (quartz counters), walk-in tiled shower & private WC. The split bedroom floor plan has large guest rooms that share an updated guest bath. Outside, the lanai has an in-ground, heated saltwater pool w/new panoramic view screen enclosure & plenty of room for outdoor entertaining. Lanai also has motorized privacy screens & outdoor shower. An extended concrete dock w/boat lift is steps from the back door. Water & electric hook-ups are available dockside. Wooden bunks on boat lift replaced w/aluminum bunks (2018) & two NEW motors installed on lift (2024). Start enjoying some of the best fishing & boating in SW FL from your backyard. Updates include NEW 3-zone HVAC system w/variable speed condenser & variable speed air handler (2022), NEW pool heater (2018), NEW saltwater chlorinator for pool (2018), storage cabinets in garage (2018), NEW variable speed pool pump (2018), & NEW window treatments including louvered shutters & roll down shades for sliders & back of house. Oversized two-car garage has mini split A/C, overhead storage racks & reinforced/locking steel braces. Other amenities include NEW 50-gallon hot water heater w/Grundfos circulation pump (2023), whole-house hurricane protection w/impact-resistant windows, accordion shutter on lanai, Kevlar screen for side garage door & electric roll down at front entry, whole-house surge protector w/individual surge protector for HVAC system plus electric breaker box was wired for generator use w/exterior 30-amp plug for hook-up. Home is meticulously maintained & in move-in condition.
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Location
Property Details
Parking
- Description: Garage Door Opener, Oversized
- Details: Garage Door Opener, Oversized, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 13
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Concrete Block
- Roof Material: Tile
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Burnt Store Isles Association
- HOA Fee: $50/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 412319436003
- Lot Size: 9599 sqft
Property Information
- Property Type: Single Family Residence
- Style: Custom, Florida
- Year Built: 2000
Tax Information
- Annual Tax: $9,162
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Charlotte
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,816
- Cap Rate
- 3.7%
- Cash-on-Cash Return
- -11.0%
- Debt Coverage Ratio
- 0.60
- Internal Rate of Return (5 years)
- -6.7%
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:
| $859,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$687,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $171,800 |
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:
| $25,770 |
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:
| $197,570 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,394 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $359 |
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:
| $2.09 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $687,200 |
|---|---|
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:
| $4,498 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $764 |
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:
| $350 |
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:
| $5,612 |
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:
| $5,000 | $60,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$300 | -$3,600 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,700 | $56,400 |
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. | 15% | -$764 | -$9,162 |
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% | -$350 | -$4,200 |
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% | -$400 | -$4,800 |
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% | -$250 | -$3,000 |
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% | -$250 | -$3,000 |
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% | -$4 | -$48 |
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 | 40% | -$2,018 | -$24,210 |
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:
| $2,682 | $32,184 |
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. | -$4,498 | -$53,976 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,816 | $21,792 |