$2,600,000
Investment Summary
- Monthly Cash Flow
- -$10,664
- Cap Rate
- 1.2%
- Cash-on-Cash Return
- -21.4%
- Debt Coverage Ratio
- 0.20
- Internal Rate of Return (5 years)
- -16.7%
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
There was a time when homes were designed to last—and this is one of them. Designed by award-winning architect Gene Leedy, this south-facing lakefront residence embodies a legacy of modernism uniquely attuned to Florida’s landscape and climate. As a founding voice of the Sarasota School of Architecture, Leedy’s vision was ahead of its time, helping to shape a movement that left its mark on architecture around the world. Designed in 2006 for his daughter, this residence reflects decades of innovation—every detail considered, nothing spared. Step inside and you enter the mind of a true visionary—where nothing was done without purpose, and every detail was designed for modern living. From the soaring 15-foot ceilings to the graceful grain of custom woodwork, from ample storage to quietly integrated modern comforts, every detail speaks to Leedy’s belief that beauty and function must coexist. Leedy’s design masterfully merges indoors and out drawing Florida’s natural beauty into the flow of daily life with floor-to-ceiling windows and abundant outdoor living—more than 5,700 square feet—allow light, sky, and greenery to infuse each space. Courtyards and balconies offer a sense of retreat from every main room and bedroom. Built with Gene Leedy’s signature cantilevered style, the home is elevated by pre-stressed concrete beams, allowing it to float gracefully above Lake Otis—high and dry. Inside, custom cabinetry is found throughout made of beechwood, with doors, trim, and built-ins crafted with warmth and intention. The kitchen strikes a perfect balance of form and function, anchored by a VIKING gas range, Sub-Zero refrigerator, dual dishwashers, granite countertops, and a wine fridge—designed for easy everyday living and entertaining. Engineered for resilience, the home includes hurricane-rated tempered windows and doors, underground power lines, a full-home generator, surge protection, dual HVAC zones, imported Venezuelan clay roof tiles, a 4-foot concrete wall around the pool and modern fiber-optic connectivity— without compromising its architectural integrity. Including two separate garages with a total of four parking spaces with plenty of room for an RV or boat. Upstairs, soft natural light and gas/wood-burning fireplaces create space for stillness. Though the interior spans over 5,100 square feet, it feels remarkably cozy and serene. Downstairs, a generous pool room with wet bar opens directly to the pool deck and lakefront—made for open-air entertaining, dining and quiet nights on the lake. The resurfaced lap pool and spa, heated by natural gas, are surrounded by lush landscaping and lighting, including Magnolia trees and Sicilian olive trees that sway just outside the primary suite. The shoreline invites native birds and wildlife, while offering front-row seats to holiday fireworks and golden sunsets. There is ample room to add a dock and boathouse—perfect for afternoons on the water, boating, or waterskiing.For those who appreciate timeless design and refined craftsmanship, this is a rare opportunity to be part of an architectural legacy. Schedule your showing today.
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Location
Property Details
Parking
- Description: Boat, Circular Driveway, Driveway, Garage Door Opener
- Details: Boat, Circular Driveway, Driveway, Garage Door Opener, Garage Faces Side, Oversized, RV Garage, RV Access/Parking, Garage, Attached
- Garage Spaces: 4
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Total): 5.0
Interior Features
- # of Rooms: 8
- # of Stories: 2
- Basement: Yes
- Basement Description: Finished
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Roof Type: Hip
- Roof Material: Tile
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 262828599000000160
- Lot Size: 48312 sqft
Property Information
- Property Type: Single Family Residence
- Style: Mid-Century Modern
- Year Built: 2006
Tax Information
- Annual Tax: $25,281
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Polk
Listing Details
Investment Summary
- Monthly Cash Flow
- -$10,664
- Cap Rate
- 1.2%
- Cash-on-Cash Return
- -21.4%
- Debt Coverage Ratio
- 0.20
- Internal Rate of Return (5 years)
- -16.7%
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:
| $2,600,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,080,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $520,000 |
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:
| $78,000 |
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:
| $598,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 5,178 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $502 |
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:
| $1.33 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,080,000 |
|---|---|
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:
| $13,318 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $2,107 |
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:
| $483 |
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:
| $15,908 |
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:
| $6,900 | $82,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$414 | -$4,968 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $6,486 | $77,832 |
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. | 31% | -$2,107 | -$25,282 |
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% | -$483 | -$5,796 |
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% | -$552 | -$6,624 |
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% | -$345 | -$4,140 |
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% | -$345 | -$4,140 |
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 | 56% | -$3,832 | -$45,982 |
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:
| $2,654 | $31,848 |
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. | -$13,318 | -$159,816 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $10,664 | $127,968 |