$814,900
Investment Summary
- Monthly Cash Flow
- -$2,646
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -16.9%
- Debt Coverage Ratio
- 0.37
- Internal Rate of Return (5 years)
- -12.4%
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
A TRANQUIL WATERFRONT PARADISE situated on a quiet LAKE with direct ACCESS to TAMPA BAY and the GULF this home is nestled on a private cul-de-sac in the exclusive GATED COMMUNITY of the VILLAGES OF BAYPORT. This beautiful 3 BEDROOM/2 BATH SINGLE-LEVEL, SPLIT FLOOR PLAN POOL HOME has been immaculately kept with newly installed luxury vinyl flooring in the common areas, neutral tile in both the Primary & Guest Bathroom, and upgraded carpet in all three Bedrooms. As you enter your screened courtyard through the front door to your tropical paradise, you are met with impressive waterfront views from your spacious Great Room, boasting vaulted ceilings, a wood-burning fireplace designed with marble & wood accents, and a perfectly placed wet-bar equipped with its own sink ideal for year-round entertaining. Sliding glass doors lining the backside of the home provide waterfront views from the Dining Room, Breakfast Bar with Pass-way, and Eat-In Galley Kitchen and foster direct access and waterfront views from the spacious Great Room, Bonus Room, Primary Suite, and Primary Bathroom. The updated Kitchen is equipped with newer stainless-steel appliances, granite countertops and an adjacent Laundry Room with direct access to your Two-Car Garage. This home seamlessly blends modern comfort and coastal finishes with a spacious Primary Suite with vaulted ceilings, a Walk-In Closet, a Primary Bathroom with a sunken garden tub, separate standup shower and a beautiful double vanity with granite countertops. The opposite side of the home has a well-sized 2nd Bedroom with direct access to the updated Guest Bathroom with double sinks, granite countertops, and bathtub/shower combo. There is a nicely positioned 3rd Bedroom with access to the same Guest Bathroom. This tropical oasis offers beautiful waterfront views from a screened-in deck with pavers and a sparkling activity POOL equipped with its own removable volleyball net, newer pool pump & salt system. Your staycation living continues out to your backyard to your own DOCK and ELECTRIC BOAT LIFT system, ready for a boat, canoe, kayak or simply fishing from your dock. The screened multi-purpose Courtyard can be used as an atrium, gardening area, yoga space, etc. and is currently used for an inground JACUZZI. To sustain the lush grounds and updated tropical landscaping, the home has a well-maintained IRRIGATION SYSTEM. The Major Updates/Upgrades Include: Roof with Transferable Warranty (2025), Luxury Vinyl Flooring (2025), Interior/Exterior Paint throughout (2025), Resurfaced Driveway (2025), Sealed Deck Pavers (2025), Water Softener (2024), Electric Water Heater (2022), HVAC (2021), Exterior Pool Retention Wall (2020), Inground Pool (2020), Pool Pump & Filter System (2020) Pool Salt Water System (2020). Enjoy the nearby neighborhood Parks, Pickleball, Tennis & Basketball courts, or for a greater sense of community join the neighborhood Yacht Club for an annual membership fee of $150 and take part in holiday parties, annual boat parades, and more. Location, Location, Location, this home is conveniently located near Tampa International Airport, International Mall, Raymond James Stadium, Spring Training Baseball Complexes, 20 minutes to Downtown Tampa and Amalie Arena, 4 miles from Upper Tampa Bay Park, 30 minutes from our Coastal Gulf Beaches, and top-rated schools that include the nearby Berkley Preparatory. THIS HOME PRESENTS AN UNPARALLELED OPPORTUNITY TO OWN A PIECE OF WATERFRONT PARADISE!
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Location
Property Details
Parking
- Description: Garage
- Details: Garage Door Opener, Garage Faces Side, 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: 8
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Shingle
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Greenacre Properties / Ray Leonard
- HOA Fee: $1,200/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: U3428170B8000000000790
- Lot Size: 9000 sqft
Property Information
- Property Type: Single Family Residence
- Style: Contemporary
- Year Built: 1978
Tax Information
- Annual Tax: $10,269
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Hillsborough
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,646
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -16.9%
- Debt Coverage Ratio
- 0.37
- Internal Rate of Return (5 years)
- -12.4%
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:
| $814,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$651,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $162,980 |
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:
| $24,447 |
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:
| $187,427 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,167 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $376 |
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:
| $1.66 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $651,920 |
|---|---|
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:
| $4,174 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $856 |
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:
| $5,282 |
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. | 24% | -$856 | -$10,269 |
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. | 3% | -$100 | -$1,200 |
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 | 52% | -$1,856 | -$22,269 |
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:
| $1,528 | $18,336 |
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. | -$4,174 | -$50,088 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$2,646 | -$31,752 |