$539,000
Investment Summary
- Monthly Cash Flow
- -$1,820
- Cap Rate
- 2.1%
- Cash-on-Cash Return
- -17.6%
- Debt Coverage Ratio
- 0.34
- Internal Rate of Return (5 years)
- -13.0%
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
Best waterfront location you could ask for! Imagine sitting on your patio overlooking the beautiful St Joseph Sound, the Gulf and Honeymoon Island watching the most amazing sunsets while dolphins swim by! This 3 bedroom, 2.5 townhouse is located directly on a private beach with stunning views of the water. Sit on your fenced in back patio and enjoy the beautiful water and sea breeze. Walk a few steps and you are on a private beach enjoying the sun and beautiful water. Watch the dolphins, birds and fish jumping! On occasion you will even see a manatee! You can have your kayaks right in the water and can even moor your boat on a buoy right outside your home! Kayak to the nearby spoiler islands or to the Dunedin Causeway. You can go fishing for trout and reds right outside your home! The townhouse has 1700 square ft of living space with 3 bedrooms, 2.5 baths, open plan, granite countertops, all appliances and the garage has been converted into a bonus room. Washer/dryer, fridge, oven, brand new microwave and dishwasher. New HVAC installed in March 2025. The complex has a beautiful park with bbq and benches, heated pool, library, pool tables, fitness center, tennis and pickle ball, shuffleboard and is pet friendly. It is not a 55 and over community. Very friendly neighbors and lots of activities to join! We have recreation clubs, golf, water aerobics, shuffleboard, bocce, tennis, pickle ball, poker, bridge, canasta, pool league and more! We are within a few minutes of the Dunedin Causeway and Honeymoon Island and walking distance to numerous restaurants and shops. We are also right by the Pinellas Trail for miles and miles of walking and biking. Downtown Dunedin is only a couple of miles away as well as Palm Harbor and Tarpon Springs. There is a Jolly Trolly stop right by the entrance of the complex going between Tarpon Springs and Clearwater. Visit all of the fantastic local businesses. Walk to Publix and Walgreens and a few minutes walk to eat at amazing restaurants like Madison Ave Pizza, Cricketers, Benedict's, plus there is ice cream, gourmet cookies, McDonalds, Subway, Frenchy's and a new sushi place! There is an Aldi's opening close by and a new Trader Joe's a few miles away. This is truly living in paradise! Owner financing is a possibility with 30 percent down. HOA $1100/month and includes water, garbage, basic cable, high speed internet, building insurance, lawn care, beach maintenance and use of complex amenities including pool, park, beach, tennis, fitness, etc
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Location
Property Details
Parking
- Description: Assigned, Guest, None
- Details: Guest, None, Attached
- Garage Spaces: 1
- 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: 3
- # of Stories: 2
Exterior Features
- Exterior Walls Materials: Masonry
- Foundation: Slab
- Roof Material: Tile
HOA
- Has HOA: Yes
- Association: uknown
- HOA Fee: $1,100/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 152815570040025190
- Lot Size: 0 sqft
Property Information
- Property Type: Townhouse
- Year Built: 1973
Tax Information
- Annual Tax: $2,004
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,820
- Cap Rate
- 2.1%
- Cash-on-Cash Return
- -17.6%
- Debt Coverage Ratio
- 0.34
- Internal Rate of Return (5 years)
- -13.0%
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:
| $539,000 |
|---|---|
|
The amount of the purchase financed through a loan. Amount financed:
| -$431,200 |
Down paymentThe initial payment made towards the purchase. Calculation:Purchase price - Amount financed Down payment:
| $107,800 |
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:
| $16,170 |
|
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:
| $123,970 |
|
The total square footage (SQFT) of the property. Square feet:
| 1,700 |
|
Cost per square foot of the property. Calculation:Purchase price / Square feet Cost per square foot:
| $317 |
|
Monthly rent divided by square footage. Calculation:Monthly rent / Square feet Monthly rent per square foot:
| $1.88 |
Financing Details
Loan amountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $431,200 |
|---|---|
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:
| $2,761 |
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:
| $167 |
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:
| $224 |
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:
| $3,152 |
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:
| $3,200 | $38,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$192 | -$2,304 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,008 | $36,096 |
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. | 5% | -$167 | -$2,004 |
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% | -$224 | -$2,688 |
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% | -$256 | -$3,072 |
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% | -$160 | -$1,920 |
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% | -$160 | -$1,920 |
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.. | 34% | -$1,100 | -$13,200 |
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 | 65% | -$2,067 | -$24,804 |
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:
| $941 | $11,292 |
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. | -$2,761 | -$33,132 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,820 | $21,840 |