$849,900
Investment Summary
- Monthly Cash Flow
- -$2,738
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -16.8%
- Debt Coverage Ratio
- 0.37
- Internal Rate of Return (5 years)
- -12.3%
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
Rare end unit with additional windows for amazing natural light! Live in the heart of it all in one of Downtown Dunedin’s most upgraded and desirable residences—Unit 47 at Gramercy Court. This stunning 3-bedroom, 3.5-bath end unit townhome offers luxury living just steps from Main Street, where you can walk or ride your golf cart to award-winning restaurants, craft breweries, waterfront parks, art galleries, boutique shopping, and year-round events. With its unbeatable location, extensive upgrades, and thoughtful design, this residence blends elevated style with everyday convenience in one of the most vibrant and walkable towns on Florida’s Gulf Coast. Spanning three beautifully finished levels, this home features a rare first-floor bedroom and full bath—perfect for guests, a home office, or multigenerational living. As an end unit, you’ll enjoy extra privacy and natural light throughout. The spacious two-car garage has been enhanced with an epoxy-coated floor, added ceiling storage, an extra closet under the stairs, and a built-in elevator shaft already in place for future installation. The second floor is the heart of the home with soaring 9’4” ceilings, upgraded wide-plank flooring, and a bright open layout perfect for entertaining. The chef’s kitchen is a showstopper, featuring quartz countertops, extended cabinetry with crown molding, a professionally refinished island in a custom putty hue, gold sink and hardware, and newer stainless steel refrigerator. A beautifully designed coffee and wine bar with a locally crafted wood countertop and beverage fridge adds character and charm. Step outside to your private balcony overlooking the peaceful courtyard—complete with a retractable hideaway screen to let in the breeze. Upstairs, the third floor offers dual primary suites, custom Closet by Design walk-in closets and their own ensuite bathrooms. The elevator shaft on the 3rd floor has been converted to an additional custom closet. There is also balcony on the 3rd floor. Flooring throughout the home has been thoughtfully upgraded, including luxury vinyl on the first and second floors and plush Berber carpet upstairs. Additional high-end details include 8-foot doors, custom 4” plantation shutters on every window, ceiling fans in all bedrooms and the living room, quartz and granite countertops throughout the baths, upgraded laundry room cabinetry, and a premium front-load washer and dryer. Technology and comfort go hand-in-hand with 9 built-in ceiling speakers and a professionally installed alarm system for peace of mind. Even the balconies are finished with screen doors for indoor-outdoor ease, and the garage is fully outfitted with thoughtful storage solutions. This is more than a home—it’s a lifestyle. Whether you’re enjoying a sunset stroll to the marina, grabbing brunch at your favorite local café, or heading to a festival in the park, Unit 47 puts you in the center of it all while offering the comfort and quality of a luxury townhome. Don’t miss this rare opportunity to own one of the most upgraded and ideally located homes in Gramercy Court—Downtown Dunedin’s premier community.
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Location
Property Details
Parking
- Description: Garage
- Details: Attached
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Partial): 1
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 4
- # of Stories: 3
Exterior Features
- Exterior Walls Materials: Masonry
- Foundation: Slab
- Roof Material: Metal
HOA
- Has HOA: Yes
- Association: Condominium associates
- HOA Fee: $403/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Planned Unit Development
Lot Information
- Parcel ID: 272815393490000470
- Lot Size: 892 sqft
Property Information
- Property Type: Townhouse
- Style: Contemporary
- Year Built: 2017
Tax Information
- Annual Tax: $5,562
Utilities
- Water & Sewer: Public
- Heating: Central, Heat Pump
- Cooling: Central Air
Location
- County: Pinellas
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,738
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -16.8%
- Debt Coverage Ratio
- 0.37
- Internal Rate of Return (5 years)
- -12.3%
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:
| $849,900 |
|---|---|
|
The amount of the purchase financed through a loan. Amount financed:
| -$679,920 |
Down paymentThe initial payment made towards the purchase. Calculation:Purchase price - Amount financed Down payment:
| $169,980 |
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:
| $25,497 |
|
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:
| $195,477 |
|
The total square footage (SQFT) of the property. Square feet:
| 1,970 |
|
Cost per square foot of the property. Calculation:Purchase price / Square feet Cost per square foot:
| $431 |
|
Monthly rent divided by square footage. Calculation:Monthly rent / Square feet Monthly rent per square foot:
| $1.83 |
Financing Details
Loan amountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $679,920 |
|---|---|
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:
| $4,354 |
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:
| $464 |
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:
| $252 |
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:
| $5,070 |
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:
| $3,600 | $43,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$216 | -$2,592 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,384 | $40,608 |
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. | 13% | -$464 | -$5,562 |
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% | -$252 | -$3,024 |
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% | -$288 | -$3,456 |
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% | -$180 | -$2,160 |
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% | -$180 | -$2,160 |
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.. | 11% | -$404 | -$4,848 |
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 | 49% | -$1,768 | -$21,210 |
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:
| $1,616 | $19,392 |
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. | -$4,354 | -$52,248 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $2,738 | $32,856 |