$368,000
Investment Summary
- Monthly Cash Flow
- -$979
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -13.9%
- Debt Coverage Ratio
- 0.48
- Internal Rate of Return (5 years)
- -9.4%
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 recent price adjustment, one year home warranty paid by sellers, fully furnished, turn-key- move in ready! Tara Golf & Country Club just named #1 in Manatee County for private golf community! Says alot from the residents who live here- they love it! New pickleball courts, 5 courts opening in October. Clubhouse will be remodeling and add outdoor dining in the next 12 months. AND with no special assessment to owners! The golf course is in its best shape ever! So is it time to look for your next home in the #1 golf community in Bradenton?? This villa with 2 bedrooms, 2 baths, 2 car garage, updated kitchen and bathrooms. This is an end unit, which gives you a bonus room off the den! So many uses for the extra space. View of the 9th fairway from your Florida sun-room. The den has a pullout sleeper sofa, which is great for out of towm guests, who want to visit when the snow is flying! Enjoy maintenance-free living in this well-maintained villa located in the highly desirable Villas at Tara Golf & Country Club. Equity includes a Class A Golf Membership, providing full access to golf, clubhouse dining, tennis, fitness center, pool, brand new pickle ball courts, Clubhouse activities and much more. There is a one time capital constribution of $5000 at time of closing. Please review disclosures for the HOA fees and other membership costs. New roof in 2023. No special assessments, no CDD fees, and HOA includes exterior maintenance and the building insurance. Plus, you are NOT in a flood zone. The Villas did not have any damage from the past storms. No flooding !!! The villa offers a bright, open layout, spacious kitchen, and serene golf course views. Located near shopping, dining, and area beaches. Interstate 75 minutes away. Head north and be in Tampa less than an hour where you can see professional sports teams, attend the theaters, or take a cruise from the Tampa seaport. Head south one exit, and you are at the UTC Mall, tons of retail shops & restaurants. SRQ International Airport is located off this exit. This villa is an end- unit which gives you a bonus room! The small alcove off the den can be used for a craft room, a library, right now it has a single bed for that extra guest. The villa is coming totally furnished, with a galore of household goods. Grab your golf clubs, a toothbrush and your personal items- it is move in ready! Only 32 villas in a semi circle. The Sellers are offering a 1 year home warranty to new buyers for appliances, water heater and AC. Enjoy the Florida room with floor to ceiling glass sliders for that spectacular Florida sunset. Watch the golfers as they approach the 9th hole. Great area to entertain. There is room for an outdoor patio. The HOA allows for screened cages to be added. The Villas community pool is across the street from this villa. Very private, for Villa residents only. The large Tara community pool is located by clubhouse and fitness center. Has a snack shack to grab lunch or cold beverages as you soak up the rays! Large enough for lap swimming. Wait until you see all the storage in the two cars garage! Tara social committee is so active! Local bands on Friday night, live entertainment productions, special occasion dinners, watch for the monthly calendar that is jammed packed with things to do. This is Florida living at its best—ideal as a full-time residence or seasonal retreat. Motivative Sellers who are looking to make a deal!
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Location
Property Details
Parking
- Description: Attached Garage
- Details: Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 2
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 7
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Shingle
HOA
- Has HOA: Yes
- Association: SRQ Condo Accountung
- HOA Fee: $1,200/quarterly
- Additional Association: Tara Master/Condominium Associates
- Additional HOA Fee: $1,095/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 17315.25208
- Lot Size: 0 sqft
Property Information
- Property Type: Townhouse
- Style: Other
- Year Built: 1993
Tax Information
- Annual Tax: $3,938
Utilities
- Water & Sewer: None
- Heating: Central
- Cooling: Central Air
Location
- County: Manatee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$979
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -13.9%
- Debt Coverage Ratio
- 0.48
- Internal Rate of Return (5 years)
- -9.4%
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:
| $368,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$294,400 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $73,600 |
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:
| $11,040 |
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:
| $84,640 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,517 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $243 |
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:
| $1.65 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $294,400 |
|---|---|
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:
| $1,885 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $328 |
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:
| $175 |
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:
| $2,388 |
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:
| $2,500 | $30,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$150 | -$1,800 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,350 | $28,200 |
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. | 13% | -$328 | -$3,938 |
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% | -$175 | -$2,100 |
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% | -$200 | -$2,400 |
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% | -$125 | -$1,500 |
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% | -$125 | -$1,500 |
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. | 20% | -$491 | -$5,892 |
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 | 58% | -$1,444 | -$17,330 |
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:
| $906 | $10,872 |
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. | -$1,885 | -$22,620 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $979 | $11,748 |