$525,000
Investment Summary
- Monthly Cash Flow
- -$2,849
- Cap Rate
- -0.4%
- Cash-on-Cash Return
- -28.3%
- Debt Coverage Ratio
- -0.06
- Internal Rate of Return (5 years)
- -23.3%
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
Million Dollar View! Start enjoying resort style living in this beautiful, tastefully appointed, FULLY FURNISHED, waterfront, 3 bedroom, 2 and half bath 2nd floor unit in the exclusive gated community of Vivante in Punta Gorda Isles. As an added "plus" there are 2 assigned parking spaces - one very close to the elevator for easy access to your condo. This is not your typical condo and is designed like a single-family residence with all the amenities you could ever want. With over 2300 square feet of living space, great room and dining, and spacious kitchen, there’s plenty of room for family and friends. This residence offers decorator light and fan fixtures, recessed lighting, and wood plank luxury vinyl flooring, ceramic tile, and blinds throughout. As you enter the condo directly from your private elevator into your foyer, you will be amazed at the breathtaking harbor view from the wall-to-wall sliders in the main living area. The spacious kitchen is culinary enthusiast’s dream boasting 2 pantries, granite counters with island, stainless appliances, rich wood cabinetry, built in desk, and breakfast bar that opens to the living area for easy entertaining. The owner’s suite has large walk-in closet, direct access to the balcony, and private en suite bath with his and hers sinks, granite and wood vanities, jetted soaking tub, and custom tiled shower. There is ample storage with walk in closets in all bedrooms and closets and pantries throughout this unit. You will spend most of your time relaxing on your balcony overlooking the harbor and enjoying the best water views and sunsets in the area! Other key features include dedicated laundry area with washer & dryer, impact resistant windows, and water and sewer included in your condo fee! Vivante is a resort style gated community with amazing amenities including 2 heated pools and spa, 6 clay tennis courts, billiard room, club house with kitchen facilities, cabana with gas grills, library, steam & sauna rooms, and planned social and recreational events. This community is near Ponce de Leon Park where you can enjoy breathtaking sunsets and take advantage of the beach, playground, picnic pavilion, boat ramp, natural mangrove walkway, fishing docks, and the Peace River Wildlife Center. Proximity to local beaches, dining, shopping, and golf courses makes this property ideal for the Florida lifestyle. Also, easy access to public parks with bike and walking trails and picnic areas, and boat ramps providing access to many waterways, beautiful Charlotte Harbor, the Peace and Myakka Rivers, and the blue waters of the Gulf of Mexico. Quick drive to historic downtown Punta Gorda and popular Fishermen's Village with quaint shops and cafes. It’s all waiting for you to enjoy today! So, schedule your private showing today. **PLEASE ENJOY THE 3D INTERACTIVE VIRTUAL TOUR ASSOCIATED WITH THIS LISTING*****
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Location
Property Details
Parking
- Description: Ground Level, Guest, Under Building
- Details: Assigned, Basement
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Partial): 1
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 7
- # of Stories: 4
Exterior Features
- Foundation: Block
- Roof Material: Tile
HOA
- Has HOA: Yes
- Association: Vivante - Tina Williams
- HOA Fee: $1,785/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 412210879327
- Lot Size: 2585 sqft
Property Information
- Property Type: Condominium
- Year Built: 2005
Tax Information
- Annual Tax: $9,481
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air
Location
- County: Charlotte
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,849
- Cap Rate
- -0.4%
- Cash-on-Cash Return
- -28.3%
- Debt Coverage Ratio
- -0.06
- Internal Rate of Return (5 years)
- -23.3%
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:
| $525,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$420,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $105,000 |
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:
| $15,750 |
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:
| $120,750 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,338 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $225 |
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:
| $1.50 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $420,000 |
|---|---|
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:
| 6.625% |
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:
| $2,689 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $790 |
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:
| $245 |
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:
| $3,724 |
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:
| $3,500 | $42,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$210 | -$2,520 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,290 | $39,480 |
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. | 23% | -$790 | -$9,481 |
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% | -$245 | -$2,940 |
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% | -$280 | -$3,360 |
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% | -$175 | -$2,100 |
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% | -$175 | -$2,100 |
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. | 51% | -$1,785 | -$21,420 |
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 | 99% | -$3,450 | -$41,401 |
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:
| -$160 | -$1,920 |
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. | -$2,689 | -$32,268 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $2,849 | $34,188 |