$1,130,000
Investment Summary
We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$3,457
- Cap Rate
- 2.5%
- Cash-on-Cash Return
- -16.0%
- Debt Coverage Ratio
- 0.40
- Internal Rate of Return (5 years)
- -11.4%
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
BEAUTIFUL BEACHFRONT CONDO ON THE ISLAND OF VENICE. TURNKEY FURNISHED! The gated community of MacArthur Beach & Racquet Club is highly coveted for their private beach location and access, the recreational amenities and beautiful panoramic views of Venice Beach.The Allure of Coastal Living. Imagine waking up each morning to the gentle sound of waves lapping against the shore, the warm Florida sun pouring through Gulf side windows & sliders, and the salty breeze filling your lanai while enjoying your morning coffee. This stunning beachfront condo is not just a residence; it’s a lifestyle. Nestled along the pristine shores of Florida's coastline, this three-bedroom, two and a half-bathroom unit offers amazing exclusive beach access to the unparalleled views of the turquoise waters and soft, sandy beaches. The open concept living space seamlessly blends indoor and outdoor space, perfect for entertaining or simply enjoying a quiet evening watching the sunset from your private balcony. The total renovation in 2023 resulted in a beautiful modern coastal design that greets you when you walk in the front door. It included LVT flooring throughout, custom kitchen cabinets, all new kitchen appliances, bathroom renovations, custom shades throughout, unique ceilings and architectural stairway treatment. New A/C Condenser in 2024 w/ transferable warranty. New roof in 2023. Hot water tank 2021. Open dining and living room area with a high cathedral ceiling and a gorgeous open staircase to the second story. This condo’s primary bedroom is spacious and is on the first floor. Great storage of walk in and built in closets, has an en suite bathroom with a custom designed vanity, a lighted, heated mirror. The 2nd bedroom could easily make a home office or perfect for visiting guests. Large closet in this room has space for bicycle storage. Upstairs, a 3rd Bedroom has a bird’s eye view of the beach & it’s own bathroom. Additional walk-in storage off the second-floor bathroom. Washer & Dryer in the unit. New motorized lanai awning will be installed this Spring. Residents will enjoy exclusive use of outdoor amenities, elevated tennis courts, shuffleboard and a heated pool, and direct beach access, all while being just minutes away from vibrant local dining and shopping options. Venice Little Theater, a new Library, Venice Performing Arts await your enjoyment, not to mention just a few minutes' drive up north to the cultural Sarasota with Ringling Art Museum, Shelby Botanical Gardens and Mote Marine Aquarium. Outdoor sports, fishing, paddle boarding, kayaking, bike riding on the Legacy Trail, Atlanta Braves Spring Baseball Complex at Wellen Park. Great access to I-75 and three major airports. There is something for everyone. Whether you seek a permanent residence, a vacation getaway, or a lucrative investment opportunity, this condo embodies the essence of Florida living, promising a life filled with sun, sand, and serenity. Don’t miss your chance to own a piece of paradise!
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Location
Property Details
Parking
- Description: Covered, Guest
- Details: Common, Covered, Guest, Open
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Partial): 1
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 9
- # of Stories: 2
Exterior Features
- Exterior Walls Materials: Wood Siding
- Foundation: Pillar/Post/Pier
- Roof Type: Shed
- Roof Material: Metal
HOA
- Association: Sunstate Association Management Group
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 0177151055
- Lot Size: 78399 sqft
Property Information
- Property Type: Condominium
- Style: Coastal, Florida, Traditional
- Year Built: 1976
Tax Information
- Annual Tax: $9,291
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air, Humidity Control
Location
- County: Sarasota
Listing Details
Investment Summary
We noticed that HOA fees are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$3,457
- Cap Rate
- 2.5%
- Cash-on-Cash Return
- -16.0%
- Debt Coverage Ratio
- 0.40
- Internal Rate of Return (5 years)
- -11.4%
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:
| $1,130,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$904,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $226,000 |
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:
| $33,900 |
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:
| $259,900 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,350 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $837 |
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:
| $3.33 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $904,000 |
|---|---|
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:
| $5,788 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $774 |
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:
| $315 |
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:
| $6,877 |
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:
| $4,500 | $54,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$270 | -$3,240 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,230 | $50,760 |
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. | 17% | -$774 | -$9,291 |
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% | -$315 | -$3,780 |
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% | -$360 | -$4,320 |
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% | -$225 | -$2,700 |
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% | -$225 | -$2,700 |
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 | 42% | -$1,899 | -$22,791 |
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:
| $2,331 | $27,972 |
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. | -$5,788 | -$69,456 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$3,457 | -$41,484 |