$698,500
Investment Summary
- Monthly Cash Flow
- -$1,938
- Cap Rate
- 2.8%
- Cash-on-Cash Return
- -14.5%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -10.0%
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
Experience modern elegance with this STUNNING 2019 Home with breathtaking pool and lake views located in the exclusive, gated Glen Lakes Golf Course community. This expansive home features 3 bedrooms +large study/office, 3 full baths, 3-car garage and a heated pool. As you approach, you will be greeted with a beautiful brick-paved driveway and walkway that leads to a stunning 8-foot double-door entry. The grand entrance leads the formal entry into the warm and welcoming living room featuring soaring ceilings, recessed lighting, and pocket sliding doors giving picturesque views. The gourmet chef’s kitchen is every cook’s dream with beautiful soft-close cabinetry, extended granite counters, stainless steel GE appliances with a Wi-Fi built-in oven and a gas stove, microwave, closet pantry and a separate coffee bar counter. The eat-in area offers picturesque views from the expansive windows. This split bedroom plan features a huge owner’s suite with tray ceilings, recessed lighting, double walk-in closets and door to pool with built-in blinds. The luxury master bath has a gorgeous walk-in-tiled shower, a garden tub and double sinks with granite counters and soft-close cabinets. The second and third bedrooms are both roomy in size. The 8’ double doors lead to a huge study/office that could easily be a 4th bedroom with tray ceilings and recessed lighting. The 2nd & 3rd bathrooms have beautifully tiled showers with frameless glass doors, granite counters and soft-close cabinets with the 3rd bath accessible to the pool. The dedicated laundry room offers soft-close cabinetry with granite counters and a deep sink. The oversized 3-car garage offers a sauna, and a sliding screen door to inside the home. Step out back to your expansive lanai with a Diamond Brite heated pool to enjoy your morning coffee or to watch the wildlife on Bird Island such as Eagles, Osprey, Cranes, right from your own private oasis. There is an extended paver walkway that is the perfect grilling area with a gas line stub out for outdoor grilling. The beauty and elegance of this home will have you fall in love with it the moment you arrive. Additional features include a whole house 24kw Generac generator with a 10-year transferable warranty, underground 250-gal propane tank, seamless gutters, new landscape curbing and landscape lighting around the home, added exterior outlets, TV mounts with hidden outlets, and an extermination preventative plan in place. The social & golf memberships of Glen Lakes offer a variety of activities to suit any taste. From the avid golfer to the individual interested in socializing. The 18-hole championship golf course winds throughout the community. A full practice facility with driving range, putting green, pitching and bunker allows you to fine tune your game. Along with professionally run golf events, a full social calendar awaits you. The Club offers lighted tennis courts, pickleball, a junior Olympic pool, hot tub, billiards room, fitness room, playground for the kids, restaurant and bar, games, craft and computer/library rooms. Professionally staffed golf shop, fishing with stocked ponds and banquet facilities. Of course, with a quality golf course on site, comes the Men's and Women's Golf Associations.
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Location
Property Details
Parking
- Description: Garage
- Details: Garage Door Opener, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 3
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Shingle
- Pool: Yes
HOA
- Has HOA: Yes
- Association: GLEN LAKES/ERIN GILMORE
- HOA Fee: $195/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: R2322217186800001109
- Lot Size: 17783 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2019
Tax Information
- Annual Tax: $7,772
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Hernando
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,938
- Cap Rate
- 2.8%
- Cash-on-Cash Return
- -14.5%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -10.0%
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:
| $698,500 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$558,800 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $139,700 |
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:
| $20,955 |
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:
| $160,655 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,775 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $252 |
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:
| $558,800 |
|---|---|
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:
| $3,578 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $648 |
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:
| $252 |
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:
| $4,478 |
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:
| $3,600 | $43,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$216 | -$2,592 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,384 | $40,608 |
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. | 18% | -$648 | -$7,773 |
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% | -$252 | -$3,024 |
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% | -$288 | -$3,456 |
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% | -$180 | -$2,160 |
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% | -$180 | -$2,160 |
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. | 5% | -$196 | -$2,352 |
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 | 48% | -$1,744 | -$20,925 |
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:
| $1,640 | $19,680 |
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. | -$3,578 | -$42,936 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,938 | $23,256 |