$3,399,000
Investment Summary
- Monthly Cash Flow
- -$12,260
- Cap Rate
- 1.8%
- Cash-on-Cash Return
- -18.8%
- Debt Coverage Ratio
- 0.30
- Internal Rate of Return (5 years)
- -14.2%
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
Where modern luxury meets effortless waterfront living - this St. Pete estate delivers 180 feet of deep-water frontage with amazing water views and direct boat access to Tampa Bay and the Gulf. Completely gut renovated in 2022, this 4 bed/4 bath smart home (3-car garage) is built like a fortress with all metal, block, and concrete—no wood-- is elevated and is being offered fully furnished! Every detail has been thoughtfully upgraded, from the striking standing seam metal roof and impact-rated windows/doors (with a custom front entry), to the sleek newly stucco exterior walls, to the exterior glass handrails surrounding the pool in pure elegance, to the marble flooring throughout. Inside, a high ceiling, open-concept layout centers around a designer kitchen featuring textured “leather” stone countertops, inset cabinetry, hidden appliances/ice maker, and a dry bar complete with a wine fridge. Smart home tech controls lighting and electric sunshades with ease. All four oversized bedrooms offer water views, custom closets, and spa-inspired en-suite baths with smart toilets, rain showers, Bluetooth fans, and high-end finishes. The primary suite is a true retreat, complete with electric fireplace, dual (his/hers) walk in custom closets, a private balcony with glass railings and gorgeous, sweeping open water views. Continue into the stunning ensuite bathroom with 2 floating vanities, dual rain showers, custom tile work, a luxurious soaking tub and more water views! The air-conditioned 3 car garage is fully finished with recessed lighting and beautiful resin/epoxy flooring. A versatile loft/office/gym/5th bedroom above the garage includes its own balcony (again with water view) and A/C. Newer HVAC systems include rooftop units, slot diffusers, ductwork, and multiple mini-splits for maximum efficiency. Outdoor living is unmatched—a redesigned heated saltwater pool with fountains and elevated retaining wall is surrounded by glass railings, no slip paver decking, and lush/low-maintenance landscaping highlighted by LED lighting. Multiple outdoor zones include a large, covered lanai with full outdoor kitchen, gas and wood-burning fire pit seating area and turf sporting areas. The updated docks feature a 20,000 lb boat lift, dual WaveRunner lifts, composite boardwalk, water/electric hookups, hidden gear storage, and dual lighted staircases. Ideally located just 3 miles from Downtown St. Pete, 7 miles from St. Pete Beach, and 22 miles to Tampa International Airport. The current flood policy is only $800 because of the homes elevation, and it is assumable for the next buyer. A rare blend of strength, style, and water access—this is Florida luxury redefined!
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Location
Property Details
Parking
- Description: Oversized
- Details: Driveway, Garage Door Opener, Garage Faces Side, Off Street, Oversized, Workshop in Garage, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 8
- # of Stories: 2
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Flat
- Roof Material: Concrete, Metal
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 053217515520470120
- Lot Size: 11857 sqft
Property Information
- Property Type: Single Family Residence
- Style: Contemporary, Custom, Florida, Mid-Century Modern
- Year Built: 2003
Tax Information
- Annual Tax: $19,327
Utilities
- Water & Sewer: Public
- Heating: Central, Electric, Zoned
- Cooling: Central Air, Ductless, Zoned
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$12,260
- Cap Rate
- 1.8%
- Cash-on-Cash Return
- -18.8%
- Debt Coverage Ratio
- 0.30
- Internal Rate of Return (5 years)
- -14.2%
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:
| $3,399,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,719,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $679,800 |
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:
| $101,970 |
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:
| $781,770 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,960 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $858 |
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:
| $2.47 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,719,200 |
|---|---|
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:
| $17,411 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,611 |
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:
| $686 |
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:
| $19,708 |
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:
| $9,800 | $117,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$588 | -$7,056 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $9,212 | $110,544 |
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. | 16% | -$1,611 | -$19,327 |
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% | -$686 | -$8,232 |
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% | -$784 | -$9,408 |
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% | -$490 | -$5,880 |
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% | -$490 | -$5,880 |
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. | n/a | n/a | n/a |
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 | 41% | -$4,061 | -$48,727 |
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:
| $5,151 | $61,812 |
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. | -$17,411 | -$208,932 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $12,260 | $147,120 |