$339,900
Investment Summary
- Monthly Cash Flow
- -$260
- Cap Rate
- 5.2%
- Cash-on-Cash Return
- -4.0%
- Debt Coverage Ratio
- 0.85
- Internal Rate of Return (5 years)
- 0.1%
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
Under contract-accepting backup offers. This ONE OF A KIND property is in the PERFECT LOCATION in Venice! Golf cart to Manasota beach from this home! This is a true 3 bedroom/2 bath home OR a 2 bed/1 bath+ 1 bed/1 bath in-law suite! There are laundry hook-ups in the upstairs bathroom and there are also laundry hook-ups downstairs. This home is NOT IN A FLOOD ZONE & has never flooded. BRAND NEW ROOF! There are NO CDD FEES and NO MANDATORY HOA FEES. This ADORABLE property has 1712 square feet under air and is MOVE-IN-READY! As you enter the home from the upstairs entry, you will see the freshly painted living room to the left, dining room ahead, and entry to the kitchen to the right. The kitchen renovation has just been completed to include quartz countertops, white shaker cabinets, stainless appliances, subway tile backsplash, closet pantry, and a window to the backyard. Next to the kitchen you’ll find two spacious bedrooms and a bathroom/laundry room. (If desired, you could eliminate the laundry as there are also laundry hookups downstairs. The sellers preferred to have the laundry upstairs. If the new owners use this property as a multi-generational property or rent out the downstairs, having two laundry rooms would be convenient.) Downstairs is the primary suite(or in-law suite), with a bedroom, 2 closets, sitting room, bathroom, laundry hook ups in the hallway closet, and entrances to the garage and the back patio. The primary bathroom remodel was just completed. The closet in the downstairs sitting room could easily be converted to a kitchen or kitchenette. There is an oversized 2 car garage with a BRAND NEW GARAGE DOOR & DOOR OPENER! Additional updates include new water resistant laminate flooring throughout, brand new ductwork, brand new blown-in insulation, new siding & soffit, new paint, new baseboards, new front door, new garbage disposal, new sliders upstairs & downstairs, and new front landscaping. Per seller, the upstairs AC was replaced 7 years ago, downstairs AC was replaced 2 years ago, water heater was replaced 4 years ago. The property is mostly fenced. This home has been converted to PUBLIC WATER & SEWER so no septic to maintain! This is not a deed restricted community so bring your RV, boat, and pets! When you buy a home in this neighborhood, there is an OPTIONAL association you can join for a nominal fee. This membership grants you access to a 1300 foot private beach, boat ramp, kayak/canoe launch, and ferry access to the beach! See https://southvenicebeach.org for more information. Shamrock Park is also nearby with pickleball, tennis, basketball, large playground, scenic nature trails, outdoor gathering pavilion, & another entry to the Legacy Trail! Venice island is also nearby and is known for its beaches, shopping, dining, splash pad, parks, playgrounds, fishing pier, tennis courts, weekly farmer’s market, tons of events, and so much more! Schedule your showing today and start living the Florida lifestyle! (See floorpan in photos.)
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Location
Property Details
Parking
- Description: Garage Door Opener
- Details: 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): 2.0
Interior Features
- # of Rooms: 8
- # of Stories: 2
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Shingle
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0473070019
- Lot Size: 8000 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 1974
Tax Information
- Annual Tax: $1,270
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$260
- Cap Rate
- 5.2%
- Cash-on-Cash Return
- -4.0%
- Debt Coverage Ratio
- 0.85
- Internal Rate of Return (5 years)
- 0.1%
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:
| $339,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$271,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $67,980 |
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:
| $10,197 |
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:
| $78,177 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,712 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $199 |
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:
| $1.34 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $271,920 |
|---|---|
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:
| $1,741 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $106 |
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:
| $161 |
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:
| $2,008 |
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:
| $2,300 | $27,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$138 | -$1,656 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,162 | $25,944 |
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. | 5% | -$106 | -$1,271 |
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% | -$161 | -$1,932 |
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% | -$184 | -$2,208 |
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% | -$115 | -$1,380 |
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% | -$115 | -$1,380 |
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 | 30% | -$681 | -$8,171 |
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:
| $1,481 | $17,772 |
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. | -$1,741 | -$20,892 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $260 | $3,120 |