$725,000
Investment Summary
- Monthly Cash Flow
- -$1,713
- Cap Rate
- 3.3%
- Cash-on-Cash Return
- -12.3%
- Debt Coverage Ratio
- 0.54
- Internal Rate of Return (5 years)
- -7.9%
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
*STUNNING GOLF COURSE RESIDENCE IN CALUSA LAKES!* This former model home offers breathtaking sunset views near the 15th hole at Calusa Lakes Golf Course (membership optional). Lovingly maintained, it features a spacious, open floor plan with three bedrooms, three full bathrooms, two-car garage + adjacent storage room, and a great room — all highlighted by soaring ceilings, neutral colors, and abundant natural light. 8 ft sliding doors in the great room, master bedroom, kitchen, and guest bedroom open to an expansive pool area, allowing you to seamlessly blend the indoor and outdoor living spaces. Relax in your private, heated saltwater pool year-round and mosquito-free! The outdoor kitchen has has a blackstone griddle and bar seating- perfect for entertaining. Entrance to the pool bath is conveniently located next to the outdoor kitchen area. Double pocket doors can be closed off between the dinette and 3rd bedroom to create a private guest suite. This room also makes an excellent study/den. The 2nd bedroom & bathroom are located just down the hall from the 3rd bedroom/pool bath. The bright, open-concept kitchen is a chef’s dream, featuring white cabinets, breakfast bar, new backsplash, and stainless steel appliances — perfect for both entertaining and everyday living. The private master suite offers direct pool deck access, a generous walk-in closet, and a spa-like en-suite bath with shower, soaker tub, water closet, and dual vanities. The home has a central vac system in good working condition. This exquisite property has been updated to include a NEW ROOF (2024), NEWER AC (2022), newer pool equipment (2022), newer kitchen appliances (2022), newer washer & dryer (2022), and brand new carpet in all bedrooms, great room and dining room. Per seller, the homeowner’s insurance is $3102 per year. Located in the preferred X flood zone- so no need to worry about flood insurance. Calusa Lakes is a highly sought after golf and social club community, with NO CDD fee and a LOW HOA fee of just $327 per quarter. The HOA fee pays for the tennis courts, community gate security cameras and the guard house. Membership to the club is not required, making this the perfect neighborhood for those seeking luxury living without the constraints of additional fees. The club is very friendly, active, and affordable— featuring an 18 hole regulation-length golf course, restaurant & bar, putting green, pro shop, rental clubs, and electric and pull carts. This community is conveniently situated just minutes from major highways, and a short ten-minute drive will bring you to Nokomis Beach or Venice Island, with it's beaches, charming boutique shops, dining options, Venice Little Theater, fishing pier, weekly farmer’s market, and so much more! Schedule your showing today and start living the Florida lifestyle!
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Location
Property Details
Parking
- Description: Garage Door Opener, Garage Faces Side
- Details: Deeded, Driveway, Garage Door Opener, Off Street, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 12
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Hip
- Roof Material: Tile
- Pool: Yes
- Solar Panels: Yes
HOA
- Has HOA: Yes
- Association: Tracy Goelz
- HOA Fee: $327/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0359160004
- Lot Size: 12690 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 1997
Tax Information
- Annual Tax: $6,973
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,713
- Cap Rate
- 3.3%
- Cash-on-Cash Return
- -12.3%
- Debt Coverage Ratio
- 0.54
- Internal Rate of Return (5 years)
- -7.9%
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:
| $725,000 |
|---|---|
|
The amount of the purchase financed through a loan. Amount financed:
| -$580,000 |
Down paymentThe initial payment made towards the purchase. Calculation:Purchase price - Amount financed Down payment:
| $145,000 |
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:
| $21,750 |
|
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:
| $166,750 |
|
The total square footage (SQFT) of the property. Square feet:
| 2,218 |
|
Cost per square foot of the property. Calculation:Purchase price / Square feet Cost per square foot:
| $327 |
|
Monthly rent divided by square footage. Calculation:Monthly rent / Square feet Monthly rent per square foot:
| $1.76 |
Financing Details
Loan amountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $580,000 |
|---|---|
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% |
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:
| $3,714 |
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:
| $581 |
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:
| $273 |
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:
| $4,568 |
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:
| $3,900 | $46,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$234 | -$2,808 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,666 | $43,992 |
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. | 15% | -$581 | -$6,974 |
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% | -$273 | -$3,276 |
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% | -$312 | -$3,744 |
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% | -$195 | -$2,340 |
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% | -$195 | -$2,340 |
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.. | 3% | -$109 | -$1,308 |
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% | -$1,665 | -$19,982 |
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:
| $2,001 | $24,012 |
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. | -$3,714 | -$44,568 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,713 | $20,556 |