$2,555,000
Investment Summary
- Monthly Cash Flow
- -$7,284
- Cap Rate
- 2.9%
- Cash-on-Cash Return
- -14.9%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -10.4%
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
A RARE FIND between two ski lakes! This one-of-a-kind HIDDEN WATERFRONT GEM is located in transitioning RURAL Lutz within a minimal deed restricted subdivision of three 1-AC homesites & LOCATION 20 mins N of downtown Tampa. This millennial-built home was designed to amplify the ambiance of the ever-changing skies with endless SUNRISES & SUNSETS! Enjoy living a quiet & blissful lifestyle next to nature & ducks, birds, fish, turtles & otters. This property has no HOA fees & is OUTSIDE the 100 ft flood zone & OUTSIDE the high wind zone, thereby lowering home insurance costs.***Amenities include boat ramp access to two lakes, a dock on the N lake with covered boat port & boat lift, a backyard barbecue gazebo and a front gazebo!*** The spacious downstairs master suite includes a bathroom, large enough for a massage table with a jacuzzi, water closet with bidet, automated window treatments & a separate dressing room between two walk-in closets.***Built with a VERSATILE first floor In-LAW SUITE/GAME/EXERCISE ROOM, it also offers an ADA compliant KITCHENETTE with adjacent bedroom & ADA COMPLIANT bath***The original owners take pride of ownership with the Jan/2025 installation of a NEW ROOF (with a 50-year transferable warranty, resistant to winds up to 190 mph), rebuilt dock with manufactured wood. The TRAIN AC units have 10-year transferable warranties. Kitchen has a Bosch dishwasher & Thermador stove top with a June/2025 NEW Kitchen-aid double oven/microwave/air fryer combo.***Upgrades include automated phantom lanai screens, two central vacuum systems for up & down, a soaring 2-story wood burning fireplace, entertainment center with surround sound system, 22ft ceilings with automated chandelier lift, wood sub-floors with 3/4- inch white oak planks which can be bleached or re-stained, two stair-cases & ideal location for an ELEVATOR.***The expansive LOFT can be divided into two rooms with barn doors to separate the billiard/game (or child playroom) to create a separate exercise/office or guest area. Currently the loft has a coffee bar & mini frig for guests.***Well insulated with energy efficient Low E vinyl windows, foam filled block walls & includes a security system with fire, glass & noise detectors.***The secluded homesite’s lot extends to the public road with a 30' X 250' long access road which can be landscaped for privacy & is accessed by 3 homesteads composing Ballinger Estates Subdivision (composed of the original 60’s homesite of the former owner & an all brick estate home on Lot 3 (also used by home on the S side property.***Upon entering the home guests are greeted with EXPANSIVE WATERFRONT VIEWS beyond the den, living/dining room & 2nd story bridge & fireplace. Adjacent to the living room is the family room, kitchen & dinette with its 11+ ft floor-to-glass bay window overlooking the paved lanai, back pergola & barbecue grill area, lake & dock.***The location provides residents a “feel” of living in the country while the property is located in the heart of Lutz & Hills County, minutes from 2+ malls, tons of restaurants, 5-grocery stores, 5 churches & is 5 mins from the new St Joseph’s hospital is W of Cheval & N of Avila Golf & Country Clubs. Only 20 mins from TIA & 30-45 mins from Florida's white-sand beaches. Great opportunity to own a competitively priced lakefront estate thousands BELOW a July 2024 appraisal.*** Seller is offering a $55,000 credit to install a pool (or use funds to personalize décor or towards closing costs).
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Location
Property Details
Parking
- Description: Garage
- Details: Circular Driveway, Driveway, Garage Door Opener, Garage Faces Side, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Total): 6.0
Interior Features
- # of Rooms: 10
- # of Stories: 2
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Block, Brick/Mortar
- Roof Type: Gable or Hip
- Roof Material: Shingle
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: U1127185NR000000000010
- Lot Size: 43750 sqft
Property Information
- Property Type: Single Family Residence
- Style: Other
- Year Built: 2003
Tax Information
- Annual Tax: $1,372
Utilities
- Water & Sewer: Private, Well
- Heating: Central, Electric, Heat Pump, Radiant Ceiling
- Cooling: Central Air, Humidity Control
Location
- County: Hillsborough
Listing Details
Investment Summary
- Monthly Cash Flow
- -$7,284
- Cap Rate
- 2.9%
- Cash-on-Cash Return
- -14.9%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -10.4%
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:
| $2,555,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,044,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $511,000 |
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:
| $76,650 |
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:
| $587,650 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 6,500 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $393 |
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:
| $1.38 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,044,000 |
|---|---|
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:
| 6.840% |
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:
| $13,380 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $114 |
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:
| $630 |
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:
| $14,124 |
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:
| $9,000 | $108,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$540 | -$6,480 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $8,460 | $101,520 |
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. | 1% | -$114 | -$1,372 |
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. | 7% | -$630 | -$7,560 |
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% | -$720 | -$8,640 |
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% | -$450 | -$5,400 |
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% | -$450 | -$5,400 |
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 | 26% | -$2,364 | -$28,372 |
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:
| $6,096 | $73,152 |
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. | -$13,380 | -$160,560 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $7,284 | $87,408 |