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$351,900

For Sale - Active
8402 Lake Hill Ct, Spring Hill, FL 34608
3 Beds
2 Baths
1,580 Square Feet
0.49 Acres Lot
Built in 1987
For Sale - Active
1 Units
Checked: 12 hours ago
Updated: Jul 28, 2025 at 04:34AM

Investment Summary


Monthly Cash Flow
-$544
Cap Rate
4.3%
Cash-on-Cash Return
-8.1%
Debt Coverage Ratio
0.70
Internal Rate of Return (5 years)
-3.8%

Property Description


0.49 Acres Lot
Built in 1987
For Sale - Active
1 Units

The Seller is Offering to Pay $5000 of the Buyers Closing Costs and Pre-Paids !!! This Stunning Three Bedroom, Two Bathroom, Pool Home built by Pine Aire Homes is Gorgeous and has been lovingly maintained by the original owners. There is a Brand New 30 year three-dimensional shingle roof installed June 20, 2025. The Home is conveniently located just ten minutes from the Vetrans Parkway in Rainbow Hills Estates making for an easy commute to Wesley Chapel, Tampa or St Pete. Rainbow Hills Estates is a beautiful community that offers an optional HOA and is located in a no flood zone. The Home offers an exceptional blend of comfort and elegance. Nestled on a beautifully landscaped 1/2 acre lot, the home features a long driveway that provides ample parking and beautiful curb appeal. Inside, you'll find gorgeous tile and laminate wood flooring throughout, leading to a spacious living room illuminated by a skylight. The Spacious Kitchen is a chef's dream, showcasing real wood cabinets, abundant counter space, and a custom built pass-through that connects to the living room. There is a cozy wood-burning fireplace with a custom made brick front that adds charm to the space. The master bedroom is a luxurious retreat, complete with laminate flooring, a large walk-in closet, and a master bathroom featuring a relaxing Jacuzzi tub, a separate step-in shower, separate commode and a beautiful solid wood vanity with lots of storage space. The Home also boasts a breakfast nook with a gorgeous inverted tray ceiling and bay windows that overlook the picturesque, fenced in half-acre backyard, complete with a shed. You will love the stunning pool featuring a relaxing waterfall. Imagine spending your summer days, relaxing by the pool, dining poolside and enjoying time with friends and family and having fun. The backyard is great for family barbecues, games of tag, playing kickball, soccer or simply enjoying the beautiful Florida sunshine. Adjacent to the pool is a generous Florida room, measuring 23.5 X 10.4 equipped with sliding glass doors that create a seamless indoor-outdoor experience. This room is vented for A/C and Heat making it the perfect space to have a Home Office, Home Gym, Man Cave, Pool Table, Home Theatre or a Playroom for the kids. The Formal Dining Room is lovely with beautiful bay windows overlooking the front of the home. There is a large inside laundry room complete with a sink and solid wood cabinets for all your storage needs. Guest bedroom one is spacious with a walk in closet. The second bedroom is open and bright and also features a large closet. There is a convenient pool bathroom with a tub-shower combo and beautiful solid wood vanity with dual sinks. The home's amenities are rounded out by a newer hot water heater 2017, an irrigation system to maintain the lush lawn, and gutters for added protection. This well-maintained, home truly exemplifies comfort and style, perfect for both relaxation and entertainment. The home is located close to Hospitals, Doctors, Schools Shopping and Dining. You can enjoy nearby attractions like Weeki Wachee Springs, Pine Island and Hernando Beach. This elegant and beautiful pool home is priced to sell very quickly for only $352,900.

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Location


Property Details


Parking

  • Description: Garage
  • Details: Driveway, Garage Door Opener, On Street, 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: 8
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Foundation: Slab
  • Roof Type: Gable or Hip
  • Roof Material: Shingle
  • Pool: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $40/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: R3522317323900000160
  • Lot Size: 21507 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Contemporary
  • Year Built: 1987

Tax Information

  • Annual Tax: $1,421

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air, Attic Fan

Location

  • County: Hernando

Listing Details


Listed by:
Jackie King
KW REALTY ELITE PARTNERS
(352) 650-8920

Source:
Stellar MLS
MLS#: W7875765
Stellar MLS

Investment Summary


Monthly Cash Flow
-$544
Cap Rate
4.3%
Cash-on-Cash Return
-8.1%
Debt Coverage Ratio
0.70
Internal Rate of Return (5 years)
-3.8%

Purchase Details

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Purchase price:
$351,900
Amount financed:
-$281,520
Down payment:
$70,380
Closing costs:
$10,557
Rehab costs:
$0
Initial cash invested:
$80,937
Square feet:
1,580
Cost per square foot:
$223
Monthly rent per square foot:
$1.27

Financing Details

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Loan amount:
$281,520
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,803
Property tax:
$118
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,061

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (6%)
6%-$118-$1,421
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (0%)
0%-$3-$36
Total operating expenses: (31%)
31%-$621-$7,457

Cash Flow


Monthly Yearly
Net operating income:
$1,259 $15,108
Mortgage payments:
-$1,803 -$21,636
Cash flow:
$544 $6,528