$1,395,000
Investment Summary
- Monthly Cash Flow
- -$3,798
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -14.2%
- Debt Coverage Ratio
- 0.48
- Internal Rate of Return (5 years)
- -9.7%
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
Nestled within the beautiful gated community of Blackberry Ridge, this expansive 2-acre estate home offers a seamless blend of luxury, privacy, and convenience. Located in Cherokee County with the benefit of lower taxes and zoned for the highly desirable Creekview High School, this residence showcases timeless finishes and a thoughtfully designed, spacious layout that epitomizes refined living. As you approach, you'll be captivated by its stately four-sided brick and stone construction, highlighted by a charming stone front porch and a spacious private yard. Inside, the main level exudes elegance and functionality, featuring solid mahogany wood floors that add warmth and sophistication. The living room, with its soaring vaulted ceilings and a striking stone fireplace with a gas starter, creates an inviting atmosphere. Adjacent to this space, the gourmet kitchen is a true culinary haven, boasting granite countertops, a gas range, a large walk-in pantry, and a convenient butler's pantry. Overlooking the spacious keeping room complete with a cozy stone gas fireplace this kitchen is designed for both everyday living and effortless entertaining. The primary suite on the main level serves as a luxurious retreat, featuring a sitting room with a stone fireplace and vaulted ceilings that enhance the home's distinctive character. Past dual walk-in closets, the spa-like primary bath impresses with a Jacuzzi tub, an oversized dual-head shower, and a coffered ceiling that adds a touch of grandeur. An additional ensuite guest bedroom on the main level provides comfort and privacy, making it ideal for in-laws, visitors, or a teen suite. The upper level offers exceptional flexibility, featuring three ensuite bedrooms, a large fireside office/study, and a bonus room perfect for use as a playroom, home office, or an optional sixth bedroom. Designed for entertaining, the home's three-sided walk-out terrace level is finished to the same high standards as the main level. This space includes a full wet bar kitchen with bar seating, custom-made backlit counters, and a stone fireplace in the sitting room. The game room, pool table area, and theater room complete with a raised ceiling and sound system offer endless entertainment possibilities. A full bath with laundry and ample extra storage space complete this level. Notable features of this remarkable home include a circulating hot water system, a cedar closet, encasement windows, five fireplaces, dual in-line water heaters, and laundry rooms on all three levels. The home is also equipped with a central vacuum system. The oversized three-car garage provides ample space for vehicles and equipment, with additional storage at the front. Two of the three HVAC units were replaced in 2021/2022 for added efficiency and comfort. Beyond the home itself, the location is another significant highlight. Situated just five minutes from 7 Acre Barngrill, Publix, and Scottsdale Farms, the property offers easy access to daily conveniences and dining options. It is only 15 minutes from downtown Milton's Crabapple district, known for its charming atmosphere and community events. For those seeking a vibrant city lifestyle with effortless commuting, downtown Alpharetta, Avalon, and GA-400 are just 20 minutes away, offering premier shopping, dining, and entertainment opportunities.
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Location
Property Details
Parking
- Description: Attached, Garage
- Details: Attached, Garage
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 6
- # of Baths (Total): 0.0
Interior Features
- # of Stories: 3
- Basement: Yes
- Basement Description: Concrete, Daylight, Exterior Entry, Finished, Full, Interior Entry
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Brick Veneer
- Roof Type: Hip
- Roof Material: Composition, Other
HOA
- Has HOA: Yes
- HOA Fee: $1,200/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 02N12034P
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Brick 4 Side, Craftsman, Traditional
- Year Built: 2004
Tax Information
- Annual Tax: $8,051
Utilities
- Water & Sewer: Public
- Heating: Central, Natural Gas
- Cooling: Central Air, Electric
Location
- County: Cherokee
Investment Summary
- Monthly Cash Flow
- -$3,798
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -14.2%
- Debt Coverage Ratio
- 0.48
- Internal Rate of Return (5 years)
- -9.7%
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:
| $1,395,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,116,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $279,000 |
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:
| $41,850 |
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:
| $320,850 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 7,300 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $191 |
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:
| $0.85 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,116,000 |
|---|---|
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:
| 6.840% |
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:
| $7,305 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $671 |
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:
| $8,410 |
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. | 11% | -$671 | -$8,051 |
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. | 2% | -$100 | -$1,200 |
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 | 37% | -$2,321 | -$27,851 |
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:
| $3,507 | $42,084 |
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. | -$7,305 | -$87,660 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $3,798 | $45,576 |