$1,100,000
Investment Summary
- Monthly Cash Flow
- -$3,372
- Cap Rate
- 2.5%
- Cash-on-Cash Return
- -16.0%
- Debt Coverage Ratio
- 0.40
- Internal Rate of Return (5 years)
- -11.5%
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
**VIRTUAL STAGING IN SOME INDOOR PHOTOS** Come make this Gulf access home in beautiful and quaint Tarpon Springs, Florida your own. This spacious home boasts of 4 bedrooms, 3 bathrooms and a generous 2559 square feet of well-designed living space. With an open floor plan, this home is designed to accommodate all your needs. Step inside this Coastal dream and be greeted by beautiful water views and plenty of natural light throughout the house. The new chef’s kitchen offers beautiful imported granite countertops, brand new GE Cafe gourmet appliances, a large farm sink, a coffee/tea bar and a sizable island around which you can gather for hours with family and friends after a day of fun in the sun. This split floor plan offers two bedrooms set off to the right upon entering the home. One with an en suite bathroom and both have been newly remodeled featuring rimless glass door walk-in showers new vanities and tile floors. The primary and fourth bedrooms are set to the opposite side of the home. The rear facing primary bedroom offers a sizable walk-in closet and French doors with water views that open up onto a spacious covered and screened patio. The entire interior of the home has been completely remodeled and freshly painted from top to bottom in marshmallow white by Sherwin Williams. This boater’s dream home also has a 1year new roof, a new air conditioning system, a new water heater and a new washer/dryer set. Rest easy knowing this home has been completely remodeled and is move in ready! Outside you will find a tropical paradise waiting for you. Every morning brings a unique sunrise experience right to your back door. Watch the sunrise while you sip coffee under the covered Gazeebo, on the pool deck, in your lounge chairs that sit on the sunshelf of your resort style pool or in the attached spillover hot tub. Take your boat off of the 10,000 LB boat lift for a boat ride to the Sponge Docks or for a fishing trip to the Gulf which is only minutes away. For a quick trip to the Sponge Docks or out to the islands drop your jet skis into the water from your floating jet ski dock or jet ski lift. No matter which outdoor activities you prefer, this professionally designed backyard will provide hours of unforgettable memories. And when the sun goes down, the programable lights of the pool overflow into the custom firepit while the Palm trees gently sway in the landscape lighting. Whether you want to relax by the water and watch the Dolphin play in the bayou or entertain guests, this outdoor space has it all. This property also offers ample parking with 6 parking spots in the main driveway and 2 additional spaces in an additional parking area on the opposite side of the front yard, making it convenient for residents and guests. Don't miss out on the opportunity to own this waterfront oasis in Tarpon Springs. Located only about a mile from Fred Howard Park and a 5 minute golf cart ride to the sponge docks, downtown Tarpon Ave shops, and manatee watching in the Spring bayou at Craig Park, whether you are looking for a permanent residence or a vacation home, this house has everything you need and more. For more information or to schedule a showing, contact us today. Don't let this opportunity slip away – make this dream home yours today!
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Location
Property Details
Parking
- Description: Golf Cart Garage, Open
- Details: Garage Door Opener, Golf Cart Garage, Attached
- Garage Spaces: 1
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 3
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Shingle
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 112715276120010040
- Lot Size: 11774 sqft
Property Information
- Property Type: Single Family Residence
- Style: Contemporary
- Year Built: 1956
Tax Information
- Annual Tax: $10,106
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$3,372
- Cap Rate
- 2.5%
- Cash-on-Cash Return
- -16.0%
- Debt Coverage Ratio
- 0.40
- Internal Rate of Return (5 years)
- -11.5%
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:
| $1,100,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$880,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $220,000 |
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:
| $33,000 |
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:
| $253,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,559 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $430 |
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:
| $1.76 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $880,000 |
|---|---|
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:
| $5,635 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $842 |
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:
| $6,792 |
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. | 19% | -$842 | -$10,106 |
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 | 44% | -$1,967 | -$23,606 |
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:
| $2,263 | $27,156 |
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. | -$5,635 | -$67,620 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $3,372 | $40,464 |