$1,195,000
Investment Summary
- Monthly Cash Flow
- -$3,620
- Cap Rate
- 2.5%
- Cash-on-Cash Return
- -15.8%
- Debt Coverage Ratio
- 0.41
- Internal Rate of Return (5 years)
- -11.3%
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
CASUAL, COASTAL ELEGANCE in this charming WATERFRONT community – BAYSIDE on LITTLE SARASOTA BAY! The Florida Lifestyle you’ve always dreamt of awaits you at Bayside on Little Sarasota Bay – a GATED ENCLAVE OF JUST 49 HOMES tucked away on the bay in Osprey Florida - one of our area’s best kept secrets ideally located between Sarasota & Venice! This delightful POOL HOME offers 3 BEDROOMS, 3 FULL BATHROOMS, EXTENDED TANDEM 3 CAR-GARAGE, A DEN, PLUS AN OUTDOOR LIVING ROOM EQUIPPED WITH A FULL OUTDOOR KITCHEN & FIREPLACE! Situated on a highly coveted premium preserve lot in a section of Bayside that **DOES NOT REQUIRE FLOOD INSURANCE**, sellers are happy to report that this home was left unscathed by recent storms! ENJOY THE PRIVACY OF THE PRESERVE while observing Florida’s natural beauty, birds & wildlife! THE OUTDOOR LIVING SPACE with a GAS HEATED POOL & SPA, COVERED LIVING ROOM, OUTDOOR FIREPLACE & OUTDOOR KITCHEN are what the FLORIDA LIFESTYLE IS ALL ABOUT – an extension of the indoors to the outdoors! You may even find yourself spending more time outdoors than inside! Back inside, you’ll find attention given to every detail with CROWN MOLDING in all the main living spaces & bedrooms, volume ceilings & tray ceilings upon entry into the foyer, living room & primary bedroom. NO CARPETING in this Florida home! Luxury Vinyl Plank Laminate flooring is preferred in Florida homes & you’ll find it throughout the main living spaces & bedrooms with ceramic tile flooring in the bathrooms. The CHEF INSPIRED GOURMET KITCHEN with pantry, features an EXPANSIVE ISLAND with stunning quartz countertops and excellent for entertaining. STAINLESS APPLIANCES include the French door refrigerator with freezer below, dishwasher, large single sink, gas range, microwave. Timeless Cottage-style 42” white cabinetry with crown molding and a beautiful glass subway tile backsplash completes the design along with under cabinet lighting for beautiful ambiance. Built in 2016 by Taylor Morrison, with over $220k in BUILDER UPGRADES, be sure to ask for a complete list of upgrades and seller improvements, some of which include: outside grill vent, plantation shutters, shelving storage in the garage, & outside lighting around pool area. Whether you enjoy an ACTIVE OUTDOOR LIFESTYLE or relaxing poolside, amenities at Bayside include a KAYAK & PADDLE BOARD LAUNCH, FIRE PIT, WATERFRONT PARK AND DOCK perfect for fishing or taking in one of our beautiful Suncoast sunsets!!! Some of your nearby shopping, beaches and other activities include the Legacy Trail Osprey Junction Trailhead, Marie Selby Botanical Gardens at Historic Spanish Point, the quaint Venice Downtown District, Siesta Key Beach, Nokomis Beach, Venice Beach and lots of waterfront dining opportunities at The Point & Tiki at Spanish Point, Casey Key Fish House, Deep Lagoon, Pop’s Sunset Grill and much more!!! WATCH BOTH THE VIRTUAL TOUR & THE 360 PHOTO TOUR - DON'T DELAY - SCHEDULE A SHOWING TODAY!!!
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Location
Property Details
Parking
- Description: Attached Garage
- Details: Driveway, Garage Door Opener, Oversized, Tandem, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 7
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Foundation: Slab
- Roof Type: Hip
- Roof Material: Tile
- Pool: Yes
HOA
- Has HOA: Yes
- Association: Bayside | Patti Pressano | Pinnacle CAM
- HOA Fee: $1,343/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0148150036
- Lot Size: 7421 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2016
Tax Information
- Annual Tax: $6,845
Utilities
- Water & Sewer: Public
- Heating: Central, Electric, Natural Gas
- Cooling: Central Air
Location
- County: Sarasota
Listing Details
Investment Summary
- Monthly Cash Flow
- -$3,620
- Cap Rate
- 2.5%
- Cash-on-Cash Return
- -15.8%
- Debt Coverage Ratio
- 0.41
- Internal Rate of Return (5 years)
- -11.3%
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:
| $1,195,000 |
|---|---|
|
The amount of the purchase financed through a loan. Amount financed:
| -$956,000 |
Down paymentThe initial payment made towards the purchase. Calculation:Purchase price - Amount financed Down payment:
| $239,000 |
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:
| $35,850 |
|
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:
| $274,850 |
|
The total square footage (SQFT) of the property. Square feet:
| 2,316 |
|
Cost per square foot of the property. Calculation:Purchase price / Square feet Cost per square foot:
| $516 |
|
Monthly rent divided by square footage. Calculation:Monthly rent / Square feet Monthly rent per square foot:
| $2.20 |
Financing Details
Loan amountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $956,000 |
|---|---|
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:
| $6,121 |
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:
| $570 |
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:
| $357 |
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:
| $7,048 |
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:
| $5,100 | $61,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$306 | -$3,672 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,794 | $57,528 |
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. | 11% | -$570 | -$6,845 |
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% | -$357 | -$4,284 |
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% | -$408 | -$4,896 |
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% | -$255 | -$3,060 |
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% | -$255 | -$3,060 |
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.. | 9% | -$448 | -$5,376 |
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 | 45% | -$2,293 | -$27,521 |
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:
| $2,501 | $30,012 |
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. | -$6,121 | -$73,452 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $3,620 | $43,440 |