$4,295,000
Investment Summary
- Monthly Cash Flow
- -$18,648
- Cap Rate
- 0.9%
- Cash-on-Cash Return
- -22.7%
- Debt Coverage Ratio
- 0.15
- Internal Rate of Return (5 years)
- -17.9%
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 MASTERPIECE OF LUXURY AND DESIGN! EXQUISITE TROPICAL WATERFRONT ESTATE ON PALMA SOLA BAY! Welcome to one of the most extraordinary residences in all of Northwest Bradenton—an absolutely breathtaking tropical estate nestled directly on the serene waters of Palma Sola Bay.Completely reimagined and rebuilt in 2021 by the esteemed Kleppinger Construction,this GATED, PRIVATE sanctuary is a true work of art,where no detail was overlooked and no expense spared.Boasting 5 bedrooms, 5.5 bathrooms, and 5,447 sq ft of elevated living space (12,332 sq ft total),this custom-designed estate offers the ultimate in privacy, sophistication, and coastal living.Nearly every element of the home is brand new—from the metal roof, Hardyboard siding,to the elevated resort-style pool and spa,new A/C's, elevator and beyond.Step inside and experience timeless elegance,where refined finishes,custom millwork,& high-end materials blend seamlessly with sun-drenched interiors.Massive picture windows frame panoramic bay views, flooding every room with natural light and connecting you to the beauty of your surroundings.The interior layout is both grand & functional, featuring a formal dining room, a spacious family room just off the kitchen,a large secondary TV lounge,and an expansive media and movie theater.The kitchen is spectacular—designed for those who love to cook, gather, & entertain.Adorned with custom white cabinetry with elegant gold hardware, this kitchen features full-height backsplashes, expansive countertops, & professional appliances including a commercial AGA range, double Wolf wall ovens, & a built-in Subzero refrigerator.A massive center island offers seating, a prep sink, built-in microwave, and dramatic pendant lighting, while thoughtful touches like a pot filler,and under-cabinet lighting elevates the space to world-class standards.Retreat to the spa-inspired primary suite, an oasis of peace and luxury. With custom wide plank flooring,extensive millwork,oversized windows,and space for a sitting area or home gym,this suite was designed with comfort and beauty in mind.The lavish en-suite bath features a freestanding soaking tub, frameless glass walk-in shower with dual rainfall heads, dual vanities with designer mirrors and gold fixtures.Upstairs, a dedicated office with sweeping water views offers an inspiring place to work, while the expansive laundry room provides ample storage, cabinetry, and a utility sink. Step outside into your private outdoor paradise,where the elevated, screened-in pool deck becomes an extension of your living space.The picture-frame screen enclosure allows unobstructed water views,while lush landscaping ensures privacy.The sparkling pool and spa are surrounded by generous lounge areas & and a stunning outdoor kitchen—featuring stainless steel appliances, a built-in grill and flattop, & beverage coolers.The estate continues beyond with a brand-new dock, including a 30,000 lb boat lift with roof, offering deep water access to the Intracoastal Waterway and Gulf.The ground level is nothing short of a car collector’s fantasy, featuring 5 designated garage bays and over 5,000 sq ft of additional storage,workshop, or recreation space. Located just minutes from IMG ACADEMY, ST STEPHENS & the sugar-sand beaches of ANNA MARIA ISLAND and only steps from Robinson Preserve, a 682-acre coastal sanctuary with kayak launches and nature trails.This is more than a home—it’s a legacy estate designed for luxury, lifestyle, & lasting memories.
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Location
Property Details
Parking
- Description: Covered, Driveway, Electric Vehicle Charging Station(s), Garage Door Opener, Guest, Off Street, Open, Oversized, Split Garage, Tandem, Under Building, Workshop in Garage
- Details: Covered, Driveway, Garage Door Opener, Oversized, Attached
- Garage Spaces: 5
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Partial): 1
- # of Baths (Total): 6.0
Interior Features
- # of Rooms: 6
- # of Stories: 2
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Metal
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Kristie Cunningham
- HOA Fee: $150/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 73278.00859
- Lot Size: 33698 sqft
Property Information
- Property Type: Single Family Residence
- Style: Custom
- Year Built: 2005
Tax Information
- Annual Tax: $32,488
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air, Attic Fan
Location
- County: Manatee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$18,648
- Cap Rate
- 0.9%
- Cash-on-Cash Return
- -22.7%
- Debt Coverage Ratio
- 0.15
- Internal Rate of Return (5 years)
- -17.9%
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:
| $4,295,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$3,436,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $859,000 |
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:
| $128,850 |
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:
| $987,850 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 5,447 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $789 |
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:
| $3,436,000 |
|---|---|
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:
| $22,001 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $2,707 |
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:
| $630 |
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:
| $25,338 |
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:
| $9,000 | $108,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$540 | -$6,480 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $8,460 | $101,520 |
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. | 30% | -$2,707 | -$32,488 |
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% | -$630 | -$7,560 |
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% | -$720 | -$8,640 |
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% | -$450 | -$5,400 |
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% | -$450 | -$5,400 |
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. | 2% | -$150 | -$1,800 |
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 | 57% | -$5,107 | -$61,288 |
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:
| $3,353 | $40,236 |
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. | -$22,001 | -$264,012 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$18,648 | -$223,776 |