$2,995,000
Investment Summary
- Monthly Cash Flow
- -$12,557
- Cap Rate
- 1.2%
- Cash-on-Cash Return
- -21.9%
- Debt Coverage Ratio
- 0.20
- Internal Rate of Return (5 years)
- -17.1%
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
Seller financing available. Huge price improvement! Offering unparalleled privacy and tranquility, this extraordinary Siesta Key estate is a testament to both luxury and resilience. Spanning double lots over half an acre, gated and enclosed by an impressive 8-foot concrete wall, this custom-built home combines timeless elegance with modern amenities. Engineered for ultimate resilience, this property is built to meet the stringent Miami-Dade hurricane codes, incorporating impact-rated windows and doors, reinforced roof straps, and advanced tie-down systems. This home has survived two direct-hit hurricanes with no damage or flooding, thanks superior structural integrity. As you pass through the private gate, you’ll be captivated by the sprawling manicured grounds that perfectly frame this stately property. The resort-style pool and cabana beckon for relaxation, while the expansive green spaces provide endless opportunities for kids and pets to roam freely. This home will host gatherings and create cherished memories with family and friends. As you step through the grand double arched wooden doors, you’ll be captivated by the expansive foyer punctuated by a new elevator and grand stairwell that seamlessly blend elegance and functionality. The ground floor boasts a private bedroom wing with a full bath and generous storage areas, complemented by a versatile game or fitness room, perfect for entertainment, relaxation, or pursuing your favorite activities. The main living level boasts a huge gourmet kitchen with top-of-the-line Viking appliances, double Sub-Zero refrigerators, dual dishwashers, a massive central island, and custom-built cabinetry. Adjacent to the kitchen, you’ll find a convenient office nook, a dry bar, and a well-appointed laundry room with double washers and dryers, plus ample storage. The formal dining room opens into a stunning living area with 20-foot soaring ceilings, wood beams, and oversized arched windows, creating a welcoming space for both intimate and large gatherings. A unique arched hallway clad in Tuskegee brick leads to an expansive outdoor terrace with decorative stone railings and views of the lush property, perfect for your outdoor living area and al fresco dining under the pergola. The main level also includes two en-suite bedrooms with walk-in closets and direct access to the terrace, along with a powder bath for guests. On the third level, the primary suite serves as a serene retreat. It features a spacious sitting area with French doors leading to a private balcony, a luxurious bedroom with a large walk-in closets, and an en-suite bath with an oversized walk-in shower. A charming staircase leads to a "safe room", providing an added layer of safety and peace of mind for you, your family, and most prized possessions. Outside, you’ll find a resort-style paradise, including a large cabana, a shimmering pool, and an outdoor kitchen and gas fire-pit, all surrounded by tropical landscaping and swaying coconut palms. Beyond the estate’s walls, take advantage of deeded access to Turtle Beach and explore nearby iconic dining destinations. Boating enthusiasts will appreciate the proximity to a premier Bayfront marina and the convenience of reaching the Gulf of Mexico in just minutes via the newly reopened Midnight Pass. Located on the quieter side of Siesta Key, this property offers the best of island living. This home isn’t just a sanctuary; it’s a fortress of comfort and style.
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: Driveway, Garage Door Opener, Garage Faces Rear, Ground Level, Oversized, Tandem
- Details: Driveway, Garage Door Opener, Garage Faces Rear, Oversized, Tandem, Attached
- Garage Spaces: 4
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Partial): 1
- # of Baths (Total): 5.0
Interior Features
- # of Rooms: 11
- # of Stories: 4
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Tile
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0129090043
- Lot Size: 23301 sqft
Property Information
- Property Type: Single Family Residence
- Style: Coastal, Custom
- Year Built: 2000
Tax Information
- Annual Tax: $28,463
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$12,557
- Cap Rate
- 1.2%
- Cash-on-Cash Return
- -21.9%
- Debt Coverage Ratio
- 0.20
- Internal Rate of Return (5 years)
- -17.1%
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:
| $2,995,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,396,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $599,000 |
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:
| $89,850 |
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:
| $688,850 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 6,080 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $493 |
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:
| $1.30 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,396,000 |
|---|---|
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:
| $15,636 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $2,372 |
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:
| $553 |
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:
| $18,561 |
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:
| $7,900 | $94,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$474 | -$5,688 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $7,426 | $89,112 |
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. | 30% | -$2,372 | -$28,463 |
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% | -$553 | -$6,636 |
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% | -$632 | -$7,584 |
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% | -$395 | -$4,740 |
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% | -$395 | -$4,740 |
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 | 55% | -$4,347 | -$52,163 |
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:
| $3,079 | $36,948 |
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. | -$15,636 | -$187,632 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $12,557 | $150,684 |