$5,590,000
Investment Summary
- Monthly Cash Flow
- -$24,828
- Cap Rate
- 0.8%
- Cash-on-Cash Return
- -23.2%
- Debt Coverage Ratio
- 0.13
- Internal Rate of Return (5 years)
- -18.4%
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
When home feels like a permanent vacation, every day becomes a tropical escape where time slows down, the water is always nearby, and every day begins and ends with a coastal breeze. That’s the essence of 5727 Riegels Point—a casually luxurious, resort-style property where the lifestyle is as effortless as it is extraordinary. Nestled within the gated enclave of Riegels Landing on Siesta Key, an exclusive community with fewer than 30 estate homes, this unique property offers a lifestyle where outdoor living is as exceptional as the interior. Step into your own island sanctuary, surrounded by 357 feet of deep-water shoreline on a private basin with direct Intracoastal access. It’s a true boater’s paradise, complete with two 10,000-lb boat lifts, a floating kayak launch, water and electricity at the dock, and lit pilings perfect for nighttime fishing. The water is deep enough for a large-scale yacht to sit comfortably at your dock. Expansive Shellstone patios wrap around the home, offering countless spaces to relax, dine, and entertain. The saltwater pool and raised spa, framed by fire and water features anchor this private resort experience. Remote smart controls make it easy to unwind in the pool and spa after a sunset cruise. The front entry showcases coastal curb appeal with double frosted glass doors, leading into an interior that blends casual sophistication with the ease of turnkey living. The great room is open and airy, with engineered wood floors and abundant natural light. Large sliders provide seamless access to the outdoor amenities, creating a perfect space for both entertaining and casual relaxation. The chef’s kitchen is designed for both form and function, featuring Wolf cooking appliances, a Sub-Zero refrigerator, a Miele dishwasher, a galley sink, and custom cabinetry throughout. Hidden outlets at the cabinet base and multiple pantries, plus clever storage built into the island, keep everything organized with ease. The primary suite is a serene retreat with engineered hardwood floors, a access to a waterfront terrace with Trex decking that wraps around the entire home, and well-thought-out blind and electrical automation. The luxurious bath features lighted mirrors, dual sinks, a makeup vanity, a free-standing tub, a walk-in shower, and a Toto commode. The suite also includes a spacious walk-in closet with custom built-ins. Upstairs, two generous guest suites share a well-appointed full bathroom. Two loft areas provide the perfect space for reading, working, or relaxing. The lower level offers a multifunctional space, featuring a living space, fitness room, sliders to access the outdoor space, and a wine room with plumbing for a cooler. Additional features include a spacious 2-car garage with custom built-ins, Control4 smart home technology for lighting, AV, security, and more, four HVAC zones for comfort, turnkey furnishings, a whole-house water softener system (salt and carbon filters), a whole house generator and an oversized laundry room with custom organization. At 5727 Riegels Point, enjoy island living with easy access to Sarasota and Siesta Key Village’s dining, shopping, and entertainment. Siesta Key Beach, recently named the No. 1 beach in America by Tripadvisor, is just moments away, offering powdery sand, clear waters, and stunning sunsets. From dockside mornings to poolside evenings, this is coastal living at its best—a full-time escape where your dream lifestyle unfolds.
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Location
Property Details
Parking
- Description: Garage Door Opener, Ground Level
- Details: Garage Door Opener, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Partial): 1
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 9
- # of Stories: 3
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Hip
- Roof Material: Metal
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Dave McCabe
- HOA Fee: $1,500/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0105040016
- Lot Size: 17678 sqft
Property Information
- Property Type: Single Family Residence
- Style: Other
- Year Built: 1982
Tax Information
- Annual Tax: $19,884
Utilities
- Water & Sewer: Public
- Heating: Electric, Zoned
- Cooling: Central Air, Zoned
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$24,828
- Cap Rate
- 0.8%
- Cash-on-Cash Return
- -23.2%
- Debt Coverage Ratio
- 0.13
- Internal Rate of Return (5 years)
- -18.4%
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:
| $5,590,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$4,472,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $1,118,000 |
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:
| $167,700 |
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:
| $1,285,700 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,616 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,546 |
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:
| $2.24 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $4,472,000 |
|---|---|
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:
| $28,635 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,657 |
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:
| $567 |
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:
| $30,859 |
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:
| $8,100 | $97,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$486 | -$5,832 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $7,614 | $91,368 |
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. | 20% | -$1,657 | -$19,884 |
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% | -$567 | -$6,804 |
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% | -$648 | -$7,776 |
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% | -$405 | -$4,860 |
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% | -$405 | -$4,860 |
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% | -$125 | -$1,500 |
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 | 47% | -$3,807 | -$45,684 |
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:
| $3,807 | $45,684 |
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. | -$28,635 | -$343,620 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $24,828 | $297,936 |