$934,900
Investment Summary
- Monthly Cash Flow
- -$1,896
- Cap Rate
- 3.8%
- Cash-on-Cash Return
- -10.6%
- Debt Coverage Ratio
- 0.61
- Internal Rate of Return (5 years)
- -6.2%
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
Location, Location…The heart of Palm Harbor! Wow! This exquisite family home is perfectly situated in Florida’s premier golf-cart community. Live a fabulous coastal lifestyle in this private cul-de-sac pool home offering just over 2,500 sq ft with 4 bedrooms, 3 full bathrooms and a split 2-car garage with electric vehicle charger. Approach and be welcomed by a split driveway surrounded by lush landscaping leading to a dramatic, wide staircase and on to the charming front porch entry. Step into the spacious living room with modern finishes, hardwood flooring and an abundance of natural light. The open kitchen is an entertainers delight boasting chisel travertine flooring, raised panel soft close wood cabinetry, granite counters, tile backsplash, large undermount sink, SS appliances-3 door refrigerator, café style ceran top range, built-in microwave, dishwasher (2024), pantry closet and spacious peninsula with additional cabinetry for storage and bead board & chair rail accents. The kitchen opens to the dining room with hardwood flooring and designer lighting and sliders leading to a spacious balcony overlooking the serene landscaping! The balcony offers a grand entertaining space with stairs leading down to the backyard paradise. The private owners retreat boasts continuous travertine flooring, taller base molding and dual closets. Stunning ensuite features dual vanities and a private barn door to the massive walk-in shower with floor to ceiling tile. The second floor houses 2 large bedrooms with lovely frizae carpet, built-ins and wall closets. The hall bath has a designer vanity with single undermount sink, tub/shower combination with stunning tilework and frosted door. The 4th bedroom is located on the lower level with a private entrance making it an ideal suite for in-laws, guests, adult children or intergenerational living. The bonus area and bedroom have luxury vinyl flooring, mini-split AC (2024) for temperature comfort, electric fireplace, built-in microwave, fashionable raised bar and a pocket door leading to the 3rd bath boasting a full walk-in shower… endless possibilities! Living space extends to the serene sanctuary outside with extended brick pavered area, firepit and tiki hut for boundless fun. The refuge includes a saltwater pool with Pebble Tec finish & elevated waterfall. Privacy is provided by lush landscaping and a fully fenced yard. A private dog run is on the opposite side of the home where a custom-built ramp leads to the front porch. So many notable features… a perfectly situated laundry room has coastal bead board, a handy folding area and a super convenient laundry chute from the top floor! Washer and dryer convey! Top floor pull down staircase leads to full, standing attic access, infinite designer finishes, custom design barn doors, Tommy Bahama doors, New Pool Pump (2024), Water Heater (2022), Electrical Panels (2023), Roof (2018), Hurricane rated garage doors (2022), ACs (2018 & 2024), Bugslayer mosquito control system. Plenty of room to park a boat, golf cart, all of your toys. No HOA! Hop in your golf cart and head to the charming restaurants, shops & festivals of quaint Old Town Palm Harbor. Bike the famous Pinellas Trail and savor the nearby, famed Gulf beaches. Zoned for some of Pinellas County’s most sought-after schools including Palm Harbor University High School! Schedule your private tour today and view this magnificent home in the beautiful coastal community of Palm Harbor.
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Location
Property Details
Parking
- Description: Curb Parking, Driveway, Golf Cart Parking
- Details: Driveway, Electric Vehicle Charging Station(s), Garage Door Opener, Oversized, Attached
- Garage Spaces: 2
- 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: 3
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Siding (Alum/Vinyl)
- 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: 022815779170000480
- Lot Size: 12497 sqft
Property Information
- Property Type: Single Family Residence
- Style: Florida, Key West
- Year Built: 1988
Tax Information
- Annual Tax: $9,725
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air, Ductless
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,896
- Cap Rate
- 3.8%
- Cash-on-Cash Return
- -10.6%
- Debt Coverage Ratio
- 0.61
- Internal Rate of Return (5 years)
- -6.2%
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:
| $934,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$747,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $186,980 |
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:
| $28,047 |
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:
| $215,027 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,506 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $373 |
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:
| $747,920 |
|---|---|
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:
| $4,881 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $810 |
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:
| $385 |
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:
| $6,076 |
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:
| $5,500 | $66,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$330 | -$3,960 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $5,170 | $62,040 |
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. | 15% | -$810 | -$9,725 |
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% | -$385 | -$4,620 |
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% | -$440 | -$5,280 |
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% | -$275 | -$3,300 |
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% | -$275 | -$3,300 |
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 | 40% | -$2,185 | -$26,225 |
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:
| $2,985 | $35,820 |
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. | -$4,881 | -$58,572 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,896 | $22,752 |