$965,900
Investment Summary
- Monthly Cash Flow
- -$2,210
- Cap Rate
- 3.4%
- Cash-on-Cash Return
- -11.9%
- Debt Coverage Ratio
- 0.55
- Internal Rate of Return (5 years)
- -7.6%
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
Best Priced Exquisite Golf Course Estate in Country Club East * Priced $50,000 below taxable value! This spectacular custom-built, maintenance-free residence, the "Chatsworth II" model, offers nearly 3,000 sq. ft. of luxurious one-level living within the exclusive, gated community of Country Club East. Ideally positioned on a premium southern exposure golf course lot overlooking the 10th fairway of Royal Lakes, this home boasts three bedrooms and two and one-half baths, privacy and breathtaking views. Rich architectural details abound, starting with the spacious entry featuring custom Therma Tru stain glass double impact front doors, an elegant tile inlay, designer porcelain tile flooring laid on a diagonal, and voluminous tray ceilings with expansive crown molding. The immaculate and expansive great room floor plan is designed for effortless entertaining including built-in Klipsch surround sound speakers. The generous kitchen is a chef's delight, appointed with towering 42" cabinetry (including roll-out shelves), exquisite Swarovski crystal lighting elements, warm granite countertops with a demi-bullnose edge, a marble stone backsplash, and GE Cafe Series stainless steel appliances, including a natural gas stove, oversized single stainless steel sink, and a butler's pantry with a wine refrigerator for the connoisseur. Ring video doorbell along with lanai camera and new LG TV's. Bask in natural light in the oversized master suite, which offers sweeping southern views of the golf course and pool through an expansive wall of windows. This private retreat includes two large, built-out walk-in closets and an en suite master bath featuring custom marble countertops, dual sinks set in a generous granite vanity, a garden soaking tub, and a spa-worthy walk-in shower with a Moen rain showerhead, hand-held slide bar, corner bench, and niche. The second and third bedrooms are generously sized for family and friends, complemented by a full spare bath. Double doors lead to a dedicated office/den with rich hardwood flooring. Step outside to your Florida oasis. Sizable sliding glass doors pocket out of sight, revealing a beautifully paver lanai with a screened-in, heated saltwater pool and spa. Enjoy the sun ledge in the pool while watching golf carts trickle by, or consider creating your dream outdoor kitchen with the pre-plumbed gas stub. Built to the highest energy-efficient standards, this home features a radiant barrier roof with a shield guard, high-efficiency "gold package" 16 SEER AC system, and spray foam insulation in exterior block walls, including the oversized 2-car garage. The laundry room, connecting the garage to the home, is equipped with Frigidaire appliances, a wash basin and copious cabinetry for additional storage. Located in the intimate enclave of Windy Hill within Country Club East, this residence is within walking distance to Lakewood Ranch Country Club’s Lodge, offering a full menu of delicious meals and access to three area community pools. Residents also enjoy access to the Resident-only Retreat Clubhouse with resort-style pools and a fitness center. Additional golf, tennis, and social memberships are available for those seeking a more active lifestyle. This stylish residence is wonderfully maintained and is ready for you to move in and enjoy the finest that Lakewood Ranch has to offer, with premier shopping, dining, and downtown Sarasota just a short drive away. Plan a visit – you’ll truly enjoy it.
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Location
Property Details
Parking
- Description: Driveway, Garage Door Opener
- Details: Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 3
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Block, Slab
- Roof Type: Gable or Hip
- Roof Material: Tile
- Pool: Yes
- Pool Community: Yes
HOA
- Has HOA: Yes
- Association: Castle Group
- HOA Fee: $680/quarterly
- Additional Association: Lakewood Ranch Country Club East
- Additional HOA Fee: $3,714/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 5865.74209
- Lot Size: 9017 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2014
Tax Information
- Annual Tax: $14,536
Utilities
- Water & Sewer: Public
- Heating: Electric
- Cooling: Central Air
Location
- County: Manatee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,210
- Cap Rate
- 3.4%
- Cash-on-Cash Return
- -11.9%
- Debt Coverage Ratio
- 0.55
- Internal Rate of Return (5 years)
- -7.6%
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:
| $965,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$772,720 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $193,180 |
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:
| $28,977 |
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:
| $222,157 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,972 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $325 |
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:
| $2.19 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $772,720 |
|---|---|
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:
| $4,948 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,211 |
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:
| $455 |
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:
| $6,614 |
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:
| $6,500 | $78,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$390 | -$4,680 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $6,110 | $73,320 |
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% | -$1,211 | -$14,536 |
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% | -$455 | -$5,460 |
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% | -$520 | -$6,240 |
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% | -$325 | -$3,900 |
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% | -$325 | -$3,900 |
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. | 8% | -$536 | -$6,432 |
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 | 52% | -$3,372 | -$40,468 |
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:
| $2,738 | $32,856 |
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. | -$4,948 | -$59,376 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$2,210 | -$26,520 |