$1,400,000
Investment Summary
- Monthly Cash Flow
- -$3,616
- Cap Rate
- 2.6%
- Cash-on-Cash Return
- -13.5%
- Debt Coverage Ratio
- 0.45
- Internal Rate of Return (5 years)
- -9.0%
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 / 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
Stunning Custom Estate in Garner's Most Desirable Neighborhood! A confluence of Charm, Character, & Quality with an Elevator without the wait of new construction! Step through the front door of this exceptional residence and be immediately captivated by breathtaking views that stretch across the grand foyer and living room with soaring ceilings, leading out to the serene, tiled portico, and the tranquil woods beyond. Nestled on a pristine estate lot in the exclusive Rosemoor Place neighborhood which backs to the 63-acre Lake Benson Park and a short walk to the 96-acre White Deer Park & Nature Center, this home offers the perfect blend of privacy, natural beauty, and luxury living less than 20 minutes from downtown Raleigh. Crafted in 2009 and quickly awarded the GOLD medal in the Triangle Parade of Homes, this English Country styled home boasts close to 5,000 sq/ft of living space, serviced by a 3-story, wood paneled elevator; but wait, the poured concrete basement is another 3,300 sq/ft, of which about 1,800 sq/ft is already built-out with walls, electric, ventilation, and insulation. A multigenerational home, au pair suite, entertainment palace, or kids bunker await your vision for the future while still having expansive storage space in the walk-in attic (1,300 sq/ft) and remaining basement areas. Integrated whole house intercom and sound system brings beautiful music, convenient communications and the arrival of visitors to you throughout the home, Enjoy the timeless beauty, longevity, functionality of a brick and stone exterior, Anderson windows, plantation shutters, extensive millwork and gorgeous large format hardwood floors. This home stands out for its superior construction and attention to detail. The first-floor primary suite has been thoughtfully designed with a separate HVAC system, hardwood floors, and the primary bath features a spacious layout, ample custom cabinetry, quartz counters, whirlpool bath, floor-to-ceiling tiled walk-in shower, separate water closet and large walk-in closet, all set on beautiful large format tile. This space combines luxury and functionality in perfect harmony. The main floor continues on with a stunning home office or guest suite with hardwood floors, gas fireplace and accented with stained wood mantle and complementing built-ins. The formal dining room, foyer, and main hallway all have the updated aesthetic of Visual Comfort lighting and carry through with the hardwood floors and detailed mouldings. The centerpiece of the home, the kitchen, is adorned with beautiful cabinetry, a spacious island with bar seating and dual sinks, and open to the breakfast nook and you'll feel drawn into the cozy hearth room with vaulted, stained wood ceiling and stone fireplace with rustic timber mantle. Accessory spaces are numerous and include a well-designed wet bar off the main dining room, spacious laundry room, scullery, two full baths and a half bath, as well as access to the 3-car garage with utility sink. Ascend up the stairs and you'll enjoy two more spacious bedrooms with walk-in closets, en-suite bathrooms featuring quartz counters, & tiled showers. A large bonus room with wet bar and pre-wired for surround sound, a 2nd floor office or craft room, and access to 1,300 sq/ft of walk-in storage also await you on the 2nd floor. Nature lovers will appreciate the neighborhood also offers easy access to walking trails that lead directly to White Deer Park and the surrounding buffer areas, perfect for outdoor activities, dog walks and nature exploration.
Build Your Team
Quickly find investor-friendly professionals who can help you succeed in real estate investing at any stage of the investing journey.
Agents
Match with investor-friendly agents who can help you find, analyze, and close your next deal
Lenders
Get the best funding…find investor-friendly lenders who specialize in your deal strategy
Property Managers
Transition to passive investing. Find a trusted property management partnership that lasts.
Tax Pros & Accountants
Taxes and financial reporting made easy—find experts to create tax savings strategies, file taxes, and more
Location
Property Details
Parking
- Description: Concrete, Driveway, Garage, Garage Faces Side, Inside Entrance, Workshop in Garage
- Details: Concrete, Driveway, Garage, Garage Faces Side, Inside Entrance, Workshop in Garage, Attached
- Garage Spaces: 3
- Spaces Total: 9
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Partial): 1
- # of Baths (Total): 5.0
Interior Features
- # of Rooms: 12
- # of Stories: 2
- Basement: Yes
- Basement Description: Bath/Stubbed, Concrete, Daylight, Exterior Entry, Full, Interior Entry, Partially Finished, Storage Space, Unfinished, Walk-Out Access, Walk-Up Access
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Brick
- Foundation: Concrete Perimeter, Permanent
- Roof Material: Shingle
HOA
- Has HOA: Yes
- HOA Fee: $572/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 1710.172016480344951
- Lot Size: 30492 sqft
Property Information
- Property Type: Single Family Residence
- Style: Traditional
- Year Built: 2009
Tax Information
- Annual Tax: $14,654
Utilities
- Water & Sewer: Public
- Heating: Central, Electric, Forced Air
- Cooling: Ceiling Fan(s), Central Air, Electric, Multi Units, Zoned
Location
- County: Wake
Listing Details
Investment Summary
- Monthly Cash Flow
- -$3,616
- Cap Rate
- 2.6%
- Cash-on-Cash Return
- -13.5%
- Debt Coverage Ratio
- 0.45
- Internal Rate of Return (5 years)
- -9.0%
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 / 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:
| $1,400,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,120,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $280,000 |
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:
| $42,000 |
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:
| $322,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,960 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $282 |
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:
| $1.25 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,120,000 |
|---|---|
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:
| 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:
| $6,625 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,221 |
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:
| $434 |
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:
| $8,280 |
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:
| $6,200 | $74,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$372 | -$4,464 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $5,828 | $69,936 |
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. | 20% | -$1,221 | -$14,655 |
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% | -$434 | -$5,208 |
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% | -$496 | -$5,952 |
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% | -$310 | -$3,720 |
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% | -$310 | -$3,720 |
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. | 1% | -$48 | -$576 |
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% | -$2,819 | -$33,831 |
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:
| $3,009 | $36,108 |
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. | -$6,625 | -$79,500 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$3,616 | -$43,392 |