$2,174,000
Investment Summary
- Monthly Cash Flow
- -$9,367
- Cap Rate
- 1.0%
- Cash-on-Cash Return
- -22.5%
- Debt Coverage Ratio
- 0.16
- Internal Rate of Return (5 years)
- -17.7%
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
NEW 2019 CUSTOM HOME BUILT TO CURRENT STORM CODES...living level of home had no issues with recent storms...this exquisite custom-built home offers the best of Belleair waterfront living with breathtaking SOUTHERN FACING OPEN WATER VIEWS of the Intracoastal Waterway and the Belleair Causeway. Designed for elevated living and efficiency, this residence blends waterfront luxury with smart upgrades and unmatched views. A RESIDENTIAL ELEVATOR provides easy access to the main level, where sunlight fills the open-concept living space featuring 9-foot ceilings, crown molding, porcelain tile and motorized window treatments throughout. HIGH-IMPACT WINDOWS AND DOORS ensure peace of mind and energy efficiency, while whole-home NAD Blue Sound and KEF audio systems deliver immersive sound indoors and out. THIS HOME IS POWERED BY PAID IN FULL SOLAR PANELS AND HAS 3 POWER WALLS FOR WHOLE HOME BATTERY BACKUP... EASY AND EFFICIENT! The CHEF'S KITCHEN is a SHOWSTOPPER with incredible Blue Bahia granite countertops and backsplash, an oversized center island, custom cabinetry with built-ins and rollouts, and top-of-the-line appliances including a KitchenAid counter-depth refrigerator, Electrolux five-burner cooktop, built-in Frigidaire Professional convection oven and microwave, and a BUILT-IN 120-BOTTLE WINE COOLER. A motorized electric trash chute also adds convenience to this space. The expansive 63-foot Trex balcony deck is ideal for entertaining or relaxing with its built-in Lion five-burner gas grill and motorized Sun Setter awnings. King Size Primary Suite offers sweeping water views, a large custom walk-in closet and a luxurious spa-style bath with soaking tub, oversized walk-in shower, double vanities, and a private commode room with automated Toto Washlet. Second spacious bedroom features a custom closet with abundant storage. Upscale 2nd Bath with en-suite/hall access features a separate soaking tub, walk-in shower, double sink vanity and a private commode room with Toto Washlet, providing comfort and privacy for guests. The 3rd Bedroom can be used as an Office/Study. Full-size laundry room is conveniently off the main hall with custom granite and cabinetry. Downstairs, you’ll find FLEXIBLE BONUS SPACE with fabulous water views, removable Endura flood wall system and IMPACT sliding doors to the backyard. This space is IDEAL FOR ENTERTAINING, GAME ROOM or GYM. The extra deep 18 X 33 Ft. 2 STALL GARAGE with epoxy floors (2025), ample storage, and can easily accommodate a golf cart or recreational gear. Outside you’ll find new lush 2025 Florida native landscaping and expansive patios. 2019 BUILT SEAWALL AND YOUR 2019 PRIVATE COMPOSITE DOCK WITH WRAPPED PILINGS includes a remote-controlled 13,000 LB boat lift, dock lighting. water, & Tempest Weather Station. Additional upgrades include a commercial water heater (2025), water softener, electronic HVAC filter system, LED lighting and more. Located in the quaint Town of Belleair with its own police department, recreation center, town hall and over 15 greenspace & dog friendly parks. Close to Gulf beaches, excellent medical facilities, banking, shopping and dining. A GOLFER'S PARADISE with distinguished Belleair Country Club and Pelican Golf Club. TPA 40 minutes & PIE 30 minutes. This is waterfront living at its finest, blending high-end finishes, smart technology and Florida charm, all with incredible open water views...just bring your boat! Feature Sheet attached. Floorplan photos 62&63.
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Location
Property Details
Parking
- Description: Garage
- Details: Driveway, Garage Door Opener, Oversized, Workshop in Garage, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 14
- # of Stories: 2
- Basement: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Pillar/Post/Pier, Slab
- Roof Type: Gable
- Roof Material: Shingle
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 322915873720000080
- Lot Size: 9200 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2019
Tax Information
- Annual Tax: $15,208
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air, Zoned
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$9,367
- Cap Rate
- 1.0%
- Cash-on-Cash Return
- -22.5%
- Debt Coverage Ratio
- 0.16
- Internal Rate of Return (5 years)
- -17.7%
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:
| $2,174,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,739,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $434,800 |
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:
| $65,220 |
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:
| $500,020 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,462 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $883 |
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:
| $1.79 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,739,200 |
|---|---|
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:
| $11,136 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,267 |
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:
| $308 |
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:
| $12,711 |
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:
| $4,400 | $52,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$264 | -$3,168 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,136 | $49,632 |
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. | 29% | -$1,267 | -$15,208 |
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% | -$308 | -$3,696 |
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% | -$352 | -$4,224 |
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% | -$220 | -$2,640 |
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% | -$220 | -$2,640 |
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 | 54% | -$2,367 | -$28,408 |
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:
| $1,769 | $21,228 |
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. | -$11,136 | -$133,632 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$9,367 | -$112,404 |