$683,900
Investment Summary
- Monthly Cash Flow
- -$1,714
- Cap Rate
- 3.1%
- Cash-on-Cash Return
- -13.1%
- Debt Coverage Ratio
- 0.51
- Internal Rate of Return (5 years)
- -8.7%
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 divided by initial cash invested.
Calculation:
Annual Cash Flow / 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.
Calculation:
(Future Value / Present Value) ** (1 / Years) - 1
Property Description
Immerse yourself in this remodeled and pristine 4/3/3 on 1 acre in Woodland Waters! Truly turn key ready, this home has it all! Step in through the double entry front doors and into the great room boasting a 15' tray ceiling, 12' pocket sliding glass doors going out to the lanai and custom built-in shelving on either side of the electric fireplace. Throughout you'll find high end finishes and upgrades fit for the most discerning homeowner. The kitchen consists of a brand new Zline gas oven/range with 6 burners and a griddle, custom Hoodley hood vent and cabinet system, tile backsplash, stainless steel dishwasher and fridge, 3-stage Aquasana water filtration system at the sink for drinking water, quartz countertops with full plywood cabinetry to include soft close doors and drawers, walk in pantry, and an amazing coffee bar in the nook area with custom floating shelving. As you enter the home from the 3 car garage, you will find a well appointed laundry room which has a new GE washer and dryer set on pedestals and a ceramic farm sink with upper and lower cabinetry. As you exit the laundry room, you will walk through the mudroom with custom bench seating and shiplap wall. From here, you can go left to the heart of the home where you'll find the dining room, sitting room, great room and primary suite, or go straight into the kitchen. To the right, you'll enter the guest suite side of the home which has 2 bedrooms and a bathroom in between them. Just past the 2 guest rooms down the hall is the the large back bedroom featuring it's own private bathroom with walk in shower and closet. The primary suite has walk-in dual closets with custom storage and shoe shelves with quartz countertops. The bathroom has a private toilet room with sink, walk-in shower totally re-tiled with 3 shampoo shelves, and dual vanities with custom plywood cabinetry with soft close doors and drawers with quartz countertops. Brand new Italian porcelain tile, new plumbing fixtures, new lighting, new solid-core interior doors with hardware, baseboards and wainscotting, new painting, security cameras, new plantation shutters and window treatments throughout. Exterior amenities (all completed within 1-2 years) well worth the mention are a new roof, floratam sod, irrigation system, Simonton dual pane, low-E vinyl windows in main areas of the home, new well tank (wifi controlled and installed in 2024), new a/c condenser, full gutters with pop-ups, septic pump (2024) and a propane system with a 250 gallon tank with gas drops to the lanai for a grill hookup, kitchen oven/range and tankless Rinnai hot water heater system. There are so many other great features of this house, schedule your tour now to see them all!
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Location
Property Details
Parking
- Description: Driveway, Oversized
- Details: Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 3
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Gable or Hip
- Roof Material: Shingle
HOA
- Has HOA: Yes
- Association: Woodland Waters Phase 5
- HOA Fee: $175/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: R1822218432500000670
- Lot Size: 44000 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2005
Tax Information
- Annual Tax: $7,327
Utilities
- Water & Sewer: Public
- Heating: Electric
- Cooling: Central Air
Location
- County: Hernando
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,714
- Cap Rate
- 3.1%
- Cash-on-Cash Return
- -13.1%
- Debt Coverage Ratio
- 0.51
- Internal Rate of Return (5 years)
- -8.7%
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 divided by initial cash invested.
Calculation:
Annual Cash Flow / 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.
Calculation:
(Future Value / Present Value) ** (1 / Years) - 1
Purchase Details
|
The price paid for the property. Purchase price:
| $683,900 |
|---|---|
|
The amount of the purchase financed through a loan. Amount financed:
| -$547,120 |
Down paymentThe initial payment made towards the purchase. Calculation:Purchase price - Amount financed Down payment:
| $136,780 |
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:
| $20,517 |
|
Costs incurred to repair or improve the property. Rehab costs:
| $0 |
Initial cash investedTotal initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $157,297 |
|
The total square footage (SQFT) of the property. Square feet:
| 2,856 |
|
Cost per square foot of the property. Calculation:Purchase price / Square feet Cost per square foot:
| $239 |
|
Monthly rent divided by square footage. Calculation:Monthly rent / Square feet Monthly rent per square foot:
| $1.23 |
Financing Details
Loan amountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $547,120 |
|---|---|
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% |
Principle & Interest (PI)The principle is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money.
Principle & interest:
| $3,503 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. Calculation:Assumes 12% of gross rental income, unless public tax records are available.
Property tax:
| $611 |
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 |
|
The 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:
| $4,359 |
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. Calculation:Assumes 12% of gross rental income, unless public tax records are available. | 17% | -$611 | -$7,327 |
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. Calculation:Assumes 0% gross rental income, unless specified.. | 0% | -$15 | -$180 |
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 | 43% | -$1,501 | -$18,007 |
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:
| $1,789 | $21,468 |
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. | -$3,503 | -$42,036 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,714 | $20,568 |