$3,899,000
Investment Summary
- Monthly Cash Flow
- -$16,291
- Cap Rate
- 1.3%
- Cash-on-Cash Return
- -21.8%
- Debt Coverage Ratio
- 0.20
- Internal Rate of Return (5 years)
- -17.0%
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
Save millions of dollars with owner financing!!! No Documentation owner financed loan with 15% down payment: 3% FIXED RATE 15 YEAR MORTGAGE OR 4% FIXED RATE FOR A 30 YEAR MORTGAGE!!! CANAL FRONT HOME WITH DEEDED BEACH ACCESS ON LONGBOAT KEY! Seller will include a 16000 lb boat lift! This 4-bedroom, 4.5-bathroom, 3,900 square foot, 2-story home has impressive features. Welcome to the coastal lifestyle on this waterfront sanctuary. This solid-built house is rated to withstand the strongest of storms and is situated 10 feet above sea level, making it the epitome of safety and serenity. From the moment you step inside, you'll be awestruck by its grandeur, with a majestic 22-foot ceiling greeting you at the entrance in the grand foyer. The first floor is ideal for unwinding and welcoming guests, with a dry bar and wine cooler adjacent to a convenient half bath tucked under the stairs. With 13-zone ceiling cassette mini-split heat pumps, you can set each area to its perfect temperature, and enjoy excellent filtration and airflow for ultimate comfort. The rest of the home features 10-foot ceilings with 12-foot ceilings in the master bedroom. This kitchen is a culinary connoisseur's dream come true, with 2 full-depth refrigerators, custom cabinetry, floor-to-ceiling storage, soft-closing doors, quartzite countertops, and dual oven with internet controls. The first floor was planned with family and entertainment in mind, with views of the family-style breakfast room next to the kitchen, that blends into a great room with lovely coffered ceilings for that luxurious feel. A dining room/living room/media room rounds out the 1st floor. The second floor is made to unwind, relax, and find your own space. The opulent master suite features 12-foot step ceilings, a lavish walk-in closet, and a spa-like master bath designed for pure relaxation. With a separate soaking tub, his/her sinks/vanities, and built-in lighting, you'll be able to prepare for your day after stepping out of the walk-in shower with 7-foot high glass doors. EACH BEDROOM features a private en-suite bath and walk-in closet, ensuring every member of the family finds their retreat. A boater's paradise awaits with 125 feet of canal frontage, a newer seawall, and a floating dock for kayaks. With direct access to the intercoastal and Gulf of Mexico, it's time for you to explore the alluring azure waters of the Gulf Coast. The home features practical luxuries such as hurricane-impact windows and doors. Both decks have no maintenance aluminum railings, a wood ceiling on the lower deck, and a steel-reinforced concrete on the upper deck. Most exterior walls are steel-reinforced concrete on all levels. Special features considered in the build include a 12-foot high garage door and roll-up hurricane-rated garage doors that open up to a 15 ft high garage ceiling making this potential use as a 6 car garage with 3 cars on lifts to avoid flooding damage during severe hurricanes. Garage is 5 feet above sea level and has 15 feet high ceilings so vehicles will be 12 feet above sea level when on lifts. If you have an EV, there's a 50-amp EV car charger outlet in the garage. The driveway has a 1-foot incline above street level. The metal roof is finished with closed-cell insulation. No HOA rental restrictions. Some outdoor extras include under-deck storage, a paver driveway, walkways, a sprinkler system, and exterior lighting. Come see it today! Check out the Matterport 3D Link Above.
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Location
Property Details
Parking
- Description: Attached Garage
- Details: Driveway, Electric Vehicle Charging Station(s), Garage Door Opener, Basement, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Partial): 1
- # of Baths (Total): 5.0
Interior Features
- # of Rooms: 15
- # of Stories: 2
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Metal
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 79399.00002
- Lot Size: 11252 sqft
Property Information
- Property Type: Single Family Residence
- Style: Contemporary, Custom
- Year Built: 2022
Tax Information
- Annual Tax: $32,447
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air, Ductless
Location
- County: Manatee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$16,291
- Cap Rate
- 1.3%
- Cash-on-Cash Return
- -21.8%
- Debt Coverage Ratio
- 0.20
- Internal Rate of Return (5 years)
- -17.0%
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:
| $3,899,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$3,119,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $779,800 |
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:
| $116,970 |
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:
| $896,770 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,879 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,005 |
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:
| $2.55 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $3,119,200 |
|---|---|
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:
| $20,418 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $2,704 |
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:
| $693 |
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:
| $23,815 |
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:
| $9,900 | $118,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$594 | -$7,128 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $9,306 | $111,672 |
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. | 27% | -$2,704 | -$32,447 |
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% | -$693 | -$8,316 |
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% | -$792 | -$9,504 |
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% | -$495 | -$5,940 |
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% | -$495 | -$5,940 |
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 | 52% | -$5,179 | -$62,147 |
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:
| $4,127 | $49,524 |
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. | -$20,418 | -$245,016 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $16,291 | $195,492 |