$1,260,000
Investment Summary
- Monthly Cash Flow
- -$5,818
- Cap Rate
- 0.6%
- Cash-on-Cash Return
- -24.1%
- Debt Coverage Ratio
- 0.10
- Internal Rate of Return (5 years)
- -19.2%
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
Welcome to your DREAM INVESTMENT in Cape Haze Placida, Englewood! This Double Duplex (Quadplex) offers 4 tropical apartments with a total of 6 bedroom/4.5 baths and strong rental income! It is Zoned Commercial (CG), but grandfathered Residential, so the opportunities of what can be done with the property are endless! Rent EITHER long term or short term! 6 Off-Street Parking spaces. Visitors will love the tropical atmosphere throughout! A two-story Tiki Hut connects the two buildings and offers a relaxing covered outdoor experience. All Tiki structures were built in 2019. Most of the interiors were updated in 2018/2019. There are TWO 2 bedroom apartments and TWO 1 bedroom apartments that have similar layouts and furnishings plus an incredible amount of common space. Each unit has its own private outdoor hot tub, located in exclusive areas around the well landscaped lot. Guests will enjoy the variety of fruit trees, palms, BBQ area, sitting areas and incredible lighting at night! Owners will appreciate the lack of maintenance required due to the weed barrier and lime-rock. As you step inside each unit, you'll be greeted by an open floor plan that seamlessly blends indoor and outdoor living. The large kitchens are a chef’s delight with stainless steel appliances and plenty of countertop space/cabinets. Units are fully furnished with Central AC. There are PGT hurricane impact windows (tinted) and shutters, plus a separate laundry room with two commercial washers and two dryers (bought last year). Also a separate half bathroom for guests to use when outside. This one-of-a-kind property could either be used as a tropical vacation rental property, as a seasonal second home, or run it fully commercial. Seller is including all furnishings, 4 jacuzzi’s, property website, plus short term rental property pages e.g. VRBO & Google Maps with lots of five star reviews. 2 units can be combined and rented together to one party as a 3 bedroom/2 bath, or the entire complex can be rented to one party as a 6 bed/4 bath. One of the commercial signs on the street advertising the property is also included in purchase. AREA: The location is incredible! Pura Vida is conveniently located near beautiful sandy beaches, including Boca Grande, Little Gasparilla Island, Don Pedro Island (Palm Island) and Manasota Key (Englewood Beach). The Cape Haze Aquatic Preserve, known for its rich biodiversity, provides the perfect backdrop for kayaking, fishing, and wildlife observation. Just across the street is Palm Harbor Marina (Loggerhead), Marine Max and Cape Haze Marina. Nearby beaches include: Boca Grande, Palm Island or Englewood beach! Visitors can walk to the Palm Island ferry and the water taxi. Other fun options include: Shopping, great restaurants and numerous golf courses, Also easy access to the Gulf and the stunning waters of Lemon Bay and Boca Grande. Whether you’re looking to relax in nature or engage in exciting recreational pursuits, Cape Haze, Placida, Englewood truly has something for everyone, embodying the quintessential Florida lifestyle. There is an address for each of the 4 units: 7035, 7037, 7039 and 7041 Placida Rd. Seller has recently passed 4 point inspection. No flood claims with current owner. Units currently rented short term. Guests are currently staying at the property. Contact the agent for all showings.
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Location
Property Details
Parking
- Description: Boat
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 6
Bathroom Information
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 12
- # of Stories: 1
Exterior Features
- Foundation: Slab
- Roof Material: Shingle
Land Information
- Land Use: Residential Income
- Land Use Subtype: Quadruplex
Lot Information
- Parcel ID: 412033226010
- Lot Size: 9576 sqft
Property Information
- Property Type: Quadruplex
- Year Built: 1974
Tax Information
- Annual Tax: $10,583
Utilities
- Water & Sewer: Public
- Heating: Electric
- Cooling: Central Air
Location
- County: Charlotte
Listing Details
Investment Summary
- Monthly Cash Flow
- -$5,818
- Cap Rate
- 0.6%
- Cash-on-Cash Return
- -24.1%
- Debt Coverage Ratio
- 0.10
- Internal Rate of Return (5 years)
- -19.2%
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:
| $1,260,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,008,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $252,000 |
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:
| $37,800 |
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:
| $289,800 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,072 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $410 |
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:
| $0.72 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,008,000 |
|---|---|
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:
| $6,454 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $882 |
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:
| $154 |
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:
| $7,490 |
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:
| $2,200 | $26,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$132 | -$1,584 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,068 | $24,816 |
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. | 40% | -$882 | -$10,583 |
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% | -$154 | -$1,848 |
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% | -$176 | -$2,112 |
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% | -$110 | -$1,320 |
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% | -$110 | -$1,320 |
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 | 65% | -$1,432 | -$17,183 |
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:
| $636 | $7,632 |
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. | -$6,454 | -$77,448 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$5,818 | -$69,816 |