$2,873,000
Investment Summary
- Monthly Cash Flow
- -$12,781
- Cap Rate
- 0.3%
- Cash-on-Cash Return
- -23.2%
- Debt Coverage Ratio
- 0.06
- Internal Rate of Return (5 years)
- -18.4%
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 / Cash Invested
Calculation:
Annual cash flow divided by initial 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.
Property Description
There are very few properties on Canyon Lake that have it ALL as this one does. This 4.16 Acre Waterfront property on the main body of Canyon Lake is truly spectacular! Even with record low lake levels, this stunning property has magnificent views of the lake that stretch from the eastern end at Canyon Lake Dam, to the westernmost part of the lake where the Guadalupe feeds into the lake. At certain times of the year, you can see BOTH Sunrise AND Sunset from this property. It is located on a peninsula in the middle of Canyon Lake in the older, but very popular, subdivision Canyon Lake Island. This property has 335' WFF (water front feet) with most of the property being above the flood plain and the USACE flowage easement at elevation 948'. An older "as-built" survey is attached, along with recent CCEO GIS map with FEMA floodplain and contours superimposed. Interestingly enough, the bottom 1.08 acres are NOT a part of the subdivision and are therefore unzoned and unrestricted. The previous owner, a VERY dear friend, built this house in 2002. She and her husband were some of the original lot purchasers in Canyon Lake Island many decades ago and therefore had essentially one of the FIRST PICKS. They were both devout lovers of flora, fauna and especially ROCKS. They were both Rockhounds for many years and had an incredible collection. One of the unique aspects of this home is that the entire foyer was paved with slabs they had cut from petrified wood that they had collected over the years. Truly spectacular! Though 23 years old, this home has been very well taken care of throughout the last two decades. While some upgrades may be desirable, this home has great bones, is very well-designed and superbly maintained. A great deal of thought went into the design of this home to maximize the views of the lake and to keep access, circulation and maintenance easy (one story) as they aged. The stunning 3-sided stone fireplace is the centerpiece of the living/dining/kitchen area. The oak hardwood floors are in superb condition. Many custom built-in cabinets and desks throughout. This 2701 SF home has 3 official bedrooms (rooms with closets) and two other rooms that could be used for various things such as a craft room, or a Mother-In-Law suite as it has a separate sink area and separate outside entrance. This home has a bonafide "Butler's Pantry" making unloading groceries from the garage and laundry area a dream... The central vacuum system throughout is still operational. This property has many older specimen live oaks that have been maintained over the years to preserve both shade, habitat for wildlife, but also to preserve that amazing lake view. The home faces South/SE which means it gets the southern breezes that Canyon Lake is known for. The xeriscape around the home and throughout the entire 4.16 acres, make landscape maintenance a dream. Most of the area has been left in its natural state. If you look at the photos at the very end, the children have provided some great photos of the wildlife that frequent this property. This property is a once in a lifetime opportunity. Don't miss out!
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Location
Property Details
Parking
- Description: Attached Garage
- Details: Garage Door Opener, Oversized, Circular Driveway, Attached
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 3.0
Interior Features
- # of Stories: 1
- Basement: Yes
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Combination
- Foundation: Slab
- Roof Type: Hip
- Roof Material: Composition
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 130240000100
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: One Story, Ranch, Traditional, Texas Hill Country
- Year Built: 2002
Tax Information
- Annual Tax: $20,024
Utilities
- Water & Sewer: Private, Well
- Heating: Central, Electric
- Cooling: Ceiling Fan(s), Central Air
Location
- County: Comal
Listing Details
Investment Summary
- Monthly Cash Flow
- -$12,781
- Cap Rate
- 0.3%
- Cash-on-Cash Return
- -23.2%
- Debt Coverage Ratio
- 0.06
- Internal Rate of Return (5 years)
- -18.4%
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 / Cash Invested
Calculation:
Annual cash flow divided by initial 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.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $2,873,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,298,400 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $574,600 |
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:
| $86,190 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $660,790 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,701 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,064 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $1.33 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,298,400 |
|---|---|
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:
| 5.875% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $13,596 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,669 |
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 |
Monthly 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. Monthly payment:
| $15,517 |
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. | 46% | -$1,669 | -$20,024 |
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. | n/a | n/a | n/a |
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 | 71% | -$2,569 | -$30,824 |
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:
| $815 | $9,780 |
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. | -$13,596 | -$163,152 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $12,781 | $153,372 |