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$175,888

For Sale - Active
7278 Scotland Cir, Weeki Wachee, FL 34613
2 Beds
2 Baths
1,211 Square Feet
0.05 Acres Lot
Built in 1984
For Sale - Active
1 Units
Checked: 9 hours ago
Updated: May 27, 2025 at 03:09AM

Investment Summary


Monthly Cash Flow
$90
Cap Rate
6.8%
Cash-on-Cash Return
2.7%
Debt Coverage Ratio
1.10
Internal Rate of Return (5 years)
6.6%

Property Description


0.05 Acres Lot
Built in 1984
For Sale - Active
1 Units

Back on Market It' time to enjoy the good life! Relax in your Florida Room, ( Brand New Flat Roof just installed) while gazing at the beautiful lake enjoying the sensational Florida sunsets. Also included for your limitless enjoyment is the use of your private village pool, spa and screened-in sunbathing area. No more worries about maintaining the outside of your property. It's all taken care of. Fee is $574/ month and provides you the following services: Lawn irrigation, lawn cutting and edging, Painting of Villa Exterior, Trash Removal, Internet, Cable & homeowner's insurance for the exterior. Included in this single story villa are: Two Bedrooms (split plan), two bathrooms and a one car garage, which includes a beautiful brick paver driveway. Florida Room is under central heat and air; New carpeting in guest bedroom; new vinyl plank flooring in Florida Room; newer vinyl plank flooring in master bedroom, living room & dining room; tiled bathrooms and kitchen; kitchen was just completely remodeled and upgraded with new stainless appliances, stone countertops, wood cabinetry with soft close doors & drawers; inside utility room with newer washer and dryer and lots of storage space; new garbage disposal; New water heater (2025). Living room has a convenient wet bar; Heather Walk is a mini subdivision located in the Master Association of the Heather, which exhibits lakes and an optional 9 hole executive golf course; The Heather also has a large Community Center with all types of social activities and is available to rent out for private parties and events; RV/Boat storage is available at a low yearly fee; 5 minutes to Weeki Wachee Springs (kayaking, canoeing, swimming); 15 minutes to Gulf of Mexico; 1.5-2 hours to Clearwater/St. Pete beaches; 2 hours to Orlando Theme Parks; 1 hour to Tampa Airport. Sold AS-IS.

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Location


Property Details


Parking

  • Description: Garage
  • Details: Attached
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Stucco
  • Foundation: Slab
  • Roof Type: Gable or Hip
  • Roof Material: Shingle

HOA

  • Has HOA: Yes
  • Association: Lori Fasulo
  • HOA Fee: $24/monthly
  • Additional Association: Heather POA
  • Additional HOA Fee: $24/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: R2622217229700A00470
  • Lot Size: 2160 sqft

Property Information

  • Property Type: Townhouse
  • Style: Ranch
  • Year Built: 1984

Tax Information

  • Annual Tax: $2,434

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air

Location

  • County: Hernando

Listing Details


Listed by:
Bobbi Glenn
TROPIC SHORES REALTY LLC
(352) 684-7371

Source:
Stellar MLS
MLS#: W7866902
Stellar MLS

Investment Summary


Monthly Cash Flow
$90
Cap Rate
6.8%
Cash-on-Cash Return
2.7%
Debt Coverage Ratio
1.10
Internal Rate of Return (5 years)
6.6%

Purchase Details

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Purchase price:
$175,888
Amount financed:
-$140,710
Down payment:
$35,178
Closing costs:
$5,277
Rehab costs:
$0
Initial cash invested:
$40,455
Square feet:
1,211
Cost per square foot:
$145
Monthly rent per square foot:
$1.49

Financing Details

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Loan amount:
$140,710
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$901
Property tax:
$203
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,230

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (11%)
11%-$203-$2,434
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (3%)
3%-$48-$576
Total operating expenses: (39%)
39%-$701-$8,410

Cash Flow


Monthly Yearly
Net operating income:
$991 $11,892
Mortgage payments:
-$901 -$10,812
Cash flow:
$90 $1,080