$579,000
Investment Summary
- Monthly Cash Flow
- -$1,318
- Cap Rate
- 3.4%
- Cash-on-Cash Return
- -11.9%
- Debt Coverage Ratio
- 0.56
- Internal Rate of Return (5 years)
- -7.5%
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
Welcome to your dream home located in the Mediterranean-inspired community of Cielo, inspired by the dream-like, clear blue skies of Venice. With only 71 single-family homes, Cielo promises an intimate and exclusive neighborhood where tranquility meets accessibility. Step into this stunning 4BR, 3BA home offering 2,328 sqft of luxurious living space with thoughtfully designed upgrades throughout. The home offers a unique blend of privacy and scenic beauty with uninterrupted nature preserve views. Nestled in a tranquil setting, enjoy the peace of having no homes built in front or behind. As you enter the home you will be greeted with gorgeous luxury vinyl plank flooring, captured by high ceilings and crown molding throughout, a picture perfect bead-board hallway and a beautifully wallpapered foyer that set the stage for elegance. The heart of the home, a gourmet kitchen, boasts a gorgeous upgraded quartz island and countertops perfect for entertaining, upgraded kitchen sink, soft-close cabinets, upgraded under cabinet lighting, sliding shelves, a beautiful tiled backsplash, upgraded pendant lighting complemented by GE stainless steel appliances and a custom painted island that adds the perfect finishing touches to this chef's kitchen. Just off the kitchen is the inviting dining area that is illuminated by exquisite chandelier lights perfect for hosting holiday gatherings while overlooking the great room with upgraded tray ceilings. Enter into the serene and spacious owner's suite with elegant built-in bookcases, custom board and batten details, a timeless chandelier and windows that overlook the peaceful and relaxing preserve view. The attention to detail extends to every bathroom with elegant tile walls, towel bars and upgraded fixtures with two large walk in- closets and opposite side his and her sinks for optimal space. The property is pre-wired for a pool, making future upgrades a breeze ready to transform into your private oasis. The screened in 11X20 lanai is also equipped with a gas stub and fan wiring with recessed lighting perfect for unwinding in the evening to a glass of wine. The home thoughtfully blends functionality and style, features like the optimal 4th bedroom with ensuite bathroom, keyless entry, levers on all doors, whole house 2" faux wood blinds, 8ft doors with square panels, laundry room with built-in cabinetry, laundry tub and epoxy garage floors. The home is also equipped with hurricane storm shutters for added peace of mind. The community is nestled just 2 miles from I-75 in North Venice/Nokomis, Cielo offers unparalleled convenience with less than 7 miles away to arrive at some of the most beautiful white sandy beaches or be in historic downtown Venice in under 10 minutes. Just 20 minutes North is Sarasota with additional shopping and dining options. Families will appreciate the educational opportunities with local schools such as Laurel-Nokomis School and Venice High, and options to test into the top-ranked Pine View School. Plus, you're conveniently close to major employers like Tervis, PGT, Sarasota Memorial, and Bayfront Health. Cielo is a vibrant community lifestyle with amenities including a dog park, playground, picnic areas, and bike racks with low HOA and no CDD fee's. This home is immaculate, move in ready and shows just like a model. Schedule your private showing today.
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Location
Property Details
Parking
- Description: Attached Garage
- Details: Driveway, Garage Door Opener, Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 7
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Hip
- Roof Material: Tile
HOA
- Has HOA: Yes
- Association: Linda Chapman- Associa Gulf Coast
- HOA Fee: $255/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0391040017
- Lot Size: 7557 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2022
Tax Information
- Annual Tax: $6,143
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,318
- Cap Rate
- 3.4%
- Cash-on-Cash Return
- -11.9%
- Debt Coverage Ratio
- 0.56
- Internal Rate of Return (5 years)
- -7.5%
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:
| $579,000 |
|---|---|
|
The amount of the purchase financed through a loan. Amount financed:
| -$463,200 |
Down paymentThe initial payment made towards the purchase. Calculation:Purchase price - Amount financed Down payment:
| $115,800 |
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:
| $17,370 |
|
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:
| $133,170 |
|
The total square footage (SQFT) of the property. Square feet:
| 2,328 |
|
Cost per square foot of the property. Calculation:Purchase price / Square feet Cost per square foot:
| $249 |
|
Monthly rent divided by square footage. 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:
| $463,200 |
|---|---|
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:
| $2,966 |
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:
| $512 |
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:
| $3,723 |
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. | 15% | -$512 | -$6,143 |
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.. | 7% | -$255 | -$3,060 |
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 | 47% | -$1,642 | -$19,703 |
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:
| $1,648 | $19,776 |
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. | -$2,966 | -$35,592 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,318 | $15,816 |