$635,000
Investment Summary
- Monthly Cash Flow
- -$1,701
- Cap Rate
- 3.1%
- Cash-on-Cash Return
- -14.0%
- Debt Coverage Ratio
- 0.49
- Internal Rate of Return (5 years)
- -9.5%
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
ATTENTION CASH INVESTORS, FLIPPERS & CONTRACTORS!! THIS HOME IS FOR YOU!! This once LOVELY GEM at 8136 Brighton Dr, Port Richey, FL in the WATERFRONT COMMUNITY of HARBOR ISLES features 3 bedrooms, 3 bathrooms, 2-car garage on an OVERSIZED LOT with 13,273sqft lot or .30 acre. Have you ever wanted to live surrounded by MILLION DOLLAR properties but pay MUCH less? Here is your RARE OPPORTUNITY to purchase this CANAL-FRONT home with DIRECT ACCESS to the GULF OF MEXICO. Key exterior features are concrete seawall with water & electric capabilities at the former dock (previous dock was removed due to condition), davits, HUGE inground pool with freeform shape & large patio area PERFECT for hosting parties with MAJESTIC pine trees providing shade. You'll LOVE the MASSIVE semi-circular concrete driveway fitting multiple vehicles. Need more space for your boat, RV or jet skis? No problem! There is an additional double-wide parking pad by the garage as well as another oversized driveway. The architecture of this house is GORGEOUS with stone wall construction & a roof that looks to be in very good shape. The GRAND front entrance feels like you are entering a RESORT LODGE featuring double doors, hexagonal tiled floor, wood plank ceiling on the covered porch & STATELY columns. Once inside, the long foyer with hall closet connects the different rooms of the house. The OPEN FLOOR PLAN consists of the foyer, kitchen, dinette, dining, living & Florida rooms. The SPACIOUS kitchen has a walk-in pantry, mosaic tile backsplash, 2 breakfast bars & lots of cabinets. The living room has VAULTED ceilings with MAGNIFICENT wood beams as well as a WOOD BURNING FIREPLACE with stone wall & wooden mantle. The master bedroom can easily accommodate king-size furniture, has a walk-in closet of approximate dimensions 7'x6' & en suite bathroom. The master bathroom with pocket door for added privacy looks like it got its style from the Brady Bunch with a sunken-in shower, vintage tiles & L-shaped counter with cabinet storage. In this split bedroom plan, the other 2 bedrooms are located on the opposite wing of the home. About equivalent in size, these bedrooms can also fit king size furniture. The front bedroom features a GIGANTIC walk-in closet of approximate dimensions 11'x6.5'. The nearby REMODELED bathroom is definitely the most updated room of the house. This PRETTY bathroom consists of LOVELY tiled floors in a diagonal pattern with square inserts, wood cabinet with granite counter, satin nickel faucet, newer toilet, linen closet & tub/shower combo with sliding glass doors. There is a 3rd full bathroom with shower, sink & toilet located off the Florida room. The generous-sized laundry room with utility sink & cabinet/counter ideal as a folding station is off the Florida room. Tax records indicate this is a 5-bed house. It can very easily be converted back into 5 bedrooms by creating Bed#4 out of the spa room which is off the master bedroom & Bed#5 can be created by the 3rd bath using space from the 28' long Florida/Bonus room. By reconfiguring the layout, this home can be turned into having an IN-LAW SUITE with its own private entrance from the yard. The condition of the home is reflected in the price. There is a LOT OF SWEAT EQUITY IN THIS HOUSE! Can you transform it to an ELEGANT BEAUTY? The location is SUPERB near waterfront activities, restaurants, shopping, schools, places of worship, medical plazas, beaches & tourist attractions. MAKE THIS YOUR FUTURE HOME!
Build Your Team
Quickly find investor-friendly professionals who can help you succeed in real estate investing at any stage of the investing journey.
Agents
Match with investor-friendly agents who can help you find, analyze, and close your next deal
Lenders
Get the best funding…find investor-friendly lenders who specialize in your deal strategy
Property Managers
Transition to passive investing. Find a trusted property management partnership that lasts.
Tax Pros & Accountants
Taxes and financial reporting made easy—find experts to create tax savings strategies, file taxes, and more
Location
Property Details
Parking
- Description: Covered, Driveway, Garage Faces Side, Ground Level, Off Street, Open, Oversized, Parking Pad, Workshop in Garage
- Details: Covered, Driveway, Garage Faces Side, Off Street, Open, Oversized, Parking Pad, Workshop in Garage, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 15
- # of Stories: 1
- Basement Description: Crawl Space
Exterior Features
- Exterior Walls Materials: Rock, Stone
- Roof Type: Gable
- Roof Material: Shingle
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 3025160010000000300
- Lot Size: 13273 sqft
Property Information
- Property Type: Single Family Residence
- Style: Craftsman, Custom, Florida, Patio Home, Ranch
- Year Built: 1979
Tax Information
- Annual Tax: $12,927
Utilities
- Water & Sewer: Public
- Heating: Baseboard
- Cooling: None
Location
- County: Pasco
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,701
- Cap Rate
- 3.1%
- Cash-on-Cash Return
- -14.0%
- Debt Coverage Ratio
- 0.49
- Internal Rate of Return (5 years)
- -9.5%
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:
| $635,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$508,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $127,000 |
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:
| $19,050 |
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:
| $146,050 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,683 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $237 |
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:
| $1.45 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $508,000 |
|---|---|
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:
| $3,315 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,077 |
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:
| $273 |
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:
| $4,665 |
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:
| $3,900 | $46,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$234 | -$2,808 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,666 | $43,992 |
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. | 28% | -$1,077 | -$12,928 |
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% | -$273 | -$3,276 |
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% | -$312 | -$3,744 |
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% | -$195 | -$2,340 |
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% | -$195 | -$2,340 |
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 | 53% | -$2,052 | -$24,628 |
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:
| $1,614 | $19,368 |
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. | -$3,315 | -$39,780 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,701 | $20,412 |