$3,200,000
Investment Summary
- Monthly Cash Flow
- -$14,022
- Cap Rate
- 1.0%
- Cash-on-Cash Return
- -22.9%
- Debt Coverage Ratio
- 0.16
- Internal Rate of Return (5 years)
- -18.1%
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
Tucked within the gates of The Eagle Point Club—one of Venice’s most treasured and historic waterfront enclaves—this extraordinary custom home blends timeless Key West charm with the refined elegance of a Boca Grande style. Offering a rare combination of privacy, sophistication, and resort-style living, the home is perfectly positioned at the end of a quiet road, within walking distance to Venice’s charming shops, dining, and beach. Elevated for peace of mind, the primary living space is situated on the second floor, showcasing sweeping views of Roberts Bay. Step into the grand living room, where soaring volume ceilings, a wall of pocketing sliding glass doors, and rich architectural details invite you to relax and take in breathtaking sunset vistas as boats drift by. Golden hour here feels like a living painting. This thoughtfully designed 3-bedroom + office, 3-bath estate includes a 3-car garage and showcases artisan-quality craftsmanship throughout: elevator, travertine flooring, custom wood cabinetry, solid wood doors, intricate ceiling details, wide crown molding, and baseboards that speak to the home's custom pedigree. The chef’s kitchen is a masterpiece—offering an abundance of custom cabinetry, butcher block island, wet bar, high-end appliances including Sub-Zero refrigerator, paneled dishwasher, built-in oven and microwave, cooktop with downdraft, and extensive pull-out storage. Entertain with ease in the expansive dining room, which comfortably accommodates over a dozen guests and features a wall of windows overlooking the Bay. The primary suite offers a peaceful retreat with stunning bay views, french doors that lead to a balcony, a spacious walk-in closet, and a spa-like bath complete with a Roman shower, dual shower heads, jetted tub, dual vanities, abundant storage, and private water closet. The split floor plan ensures privacy for two generous ensuite guest bedrooms, while the richly appointed office—with custom built-ins and alligator-textured cabinetry—adds a distinctive touch. Outdoors, an elevated pool and spa with color-changing lights create a magical setting to enjoy Florida evenings. The tropical landscaping is enhanced by an irrigation system, solar lighting, a circular drive with an additional parking pad, and a whimsical life-sized chess set beneath a gazebo. The property includes one of only 30 assigned boat slips, with a soon-to-be-reconstructed dock offering water, electric, and composite decking. The new owner can install a boat lift once the dock is complete. Boaters will appreciate quick access to the Gulf—just five minutes away via the ICW. The Eagle Point Club is steeped in history dating back to 1911, known for meticulous tropical landscaping throughout, and offers residents exclusive amenities including a community dock, tennis courts and pickleball, and a storied clubhouse where guests can stay in the adjacent 3-bedroom cottage or 4-bedroom historic clubhouse. Additional notable historical features that remain are a portion of the original Velvet Highway and the preserved water tower. This is a rare opportunity to experience the luxury and coastal heritage of Eagle Point. Schedule your private tour today and discover the unmatched lifestyle this exceptional residence has to offer in one of the most prestigious communities in the area. Copy & paste the following to view the Luxury Video: https://player.vimeo.com/video/1091215246?badge=0&autopause=0&player_id=0&app_id=58479
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Location
Property Details
Parking
- Description: Attached Garage
- Details: Circular Driveway, Driveway, Garage Door Opener, Garage Faces Side, Guest, Parking Pad, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 11
- # of Stories: 2
Exterior Features
- Exterior Walls Materials: Wood Siding
- Roof Type: Hip
- Roof Material: Metal
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Patty Pressano
- HOA Fee: $1,475/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0406130009
- Lot Size: 22576 sqft
Property Information
- Property Type: Single Family Residence
- Style: Coastal, Custom, Elevated, Key West
- Year Built: 2002
Tax Information
- Annual Tax: $38,059
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air, Humidity Control
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$14,022
- Cap Rate
- 1.0%
- Cash-on-Cash Return
- -22.9%
- Debt Coverage Ratio
- 0.16
- Internal Rate of Return (5 years)
- -18.1%
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:
| $3,200,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,560,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $640,000 |
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:
| $96,000 |
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:
| $736,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,556 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $900 |
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:
| $2.59 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,560,000 |
|---|---|
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:
| 6.810% |
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:
| $16,706 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $3,172 |
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:
| $644 |
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:
| $20,522 |
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:
| $9,200 | $110,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$552 | -$6,624 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $8,648 | $103,776 |
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. | 34% | -$3,172 | -$38,059 |
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% | -$644 | -$7,728 |
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% | -$736 | -$8,832 |
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% | -$460 | -$5,520 |
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% | -$460 | -$5,520 |
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. | 5% | -$492 | -$5,904 |
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% | -$5,964 | -$71,563 |
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:
| $2,684 | $32,208 |
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. | -$16,706 | -$200,472 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $14,022 | $168,264 |