$2,950,000
Investment Summary
- Monthly Cash Flow
- -$14,890
- Cap Rate
- 0.2%
- Cash-on-Cash Return
- -26.3%
- Debt Coverage Ratio
- 0.03
- Internal Rate of Return (5 years)
- -21.4%
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
This is the perfect opportunity to settle into this stunning newer construction beauty in sought-after Indian Hill Estates for the SUMMER months. An entertainer's dream both inside and out situated on over a 1/2 acre of land, this Morgante Wilson designed custom home does not disappoint! So many special details throughout combined with numerous updates truly make this a forever home. The grand wrap-around front porch is sure to be a favorite spot for relaxing and entertaining. The main floor offers generous living spaces, beautiful custom millwork, a show-stopping atrium with dual staircases, hardwood floors and so much more. Spacious front living room with gas fireplace and dual French doors is flooded in light offering formal or cozy space with privacy. The separate office with built-ins galore offers doors to the front porch making it easy to work outside. The kitchen is an absolute entertainer's dream with huge 11' island and separate breakfast area surrounded by a bay of windows and extra bench seating. Dual ovens, dual dishwashers, dual sinks, separate Sub Zero refrigerator and freezer, tons of storage and ample counter space combine to make this kitchen truly spectacular. The walk-in pantry is an extra bonus! The open-concept dining room offers so much flexibility while the generous family room with loads of windows and skylight makes entertaining a breeze! Extensive mudroom with full bathroom off the THREE-CAR HEATED GARAGE is an absolute dream! Separate powder room for guests completes the floor. The second floor features five bedrooms with four full baths - room for everyone and amazing flexibility! You will fall in love with the newly renovated primary suite featuring a custom walk-in closet, a custom walk-thru closet with extensive storage and built-in fridge AND a DREAM CLOSET with custom shelving, jewelry storage, back-lit display cases, built-in mirrors and more. Radiant flooring throughout the primary suite with beautiful updated bath with steam shower, soaking tub and SO much counter & storage space! Four well-appointed secondary bedrooms all have eye-brow dormers, soaring ceilings, walk-in closets, built-in storage, individual temperature controls, hardwood floors and more! The fourth bedroom has a recently added fourth full bathroom creating a perfect suite for guests, au pair, in-laws, etc. The bonus game/homework/office space flooded in light with built-in shelving is a definite WOW space! The newly created second floor laundry room offers dual sets of jumbo front-loading washing machines & dryers, ample counter space and cabinets galore. The basement offers more fabulous spaces with a huge rec room, 6th bedroom, full bath, newly finished secondary office, bonus flex room (with cedar closets) and additional storage room. We can't forget about the sensational exterior of the home as well - newly added front heated walkway and steps, heated back patio walkway and steps, fabulous back patio with newer outdoor kitchen complete with grill, griddle, sink & mini fridge, outdoor tv and sound, exterior lightscaping, 18-zone sprinkler system and more - truly the perfect place to enjoy summer! So many updates throughout including extensive security system, HVAC upgrades with customized zones per bedroom and level, electrical upgrades, Sonos system installed throughout interior & exterior, newly painted front porch and more - see improvement list for details. Location can't be beat - walk or ride bikes to award winning K-8 schools, numerous parks, playgrounds and more. Centrally located to downtown Wilmette with Metra, restaurants and shopping, Gillson Beach and Lake Michigan, I-94, Old Orchard Mall, Centennial pool complex and rec center. Truly A+ in every way - don't miss this one!
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Location
Property Details
Parking
- Description: Attached, Garage, Garage On-Site, Garage Door Opener(s), Heated, 7 Foot or more high garage door
- Details: Asphalt, Garage Door Opener, Heated Garage, Garage, On Site, Attached
- Garage Spaces: 3
- Spaces Total: 3
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 6
- # of Baths (Partial): 1
- # of Baths (Total): 7.0
Interior Features
- # of Rooms: 16
- # of Stories: 2
- Basement: Yes
- Basement Description: Sump Pump, Finished, Full
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood
- Foundation: Concrete Perimeter
- Roof Material: Asphalt
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0529307024
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2001
Tax Information
- Annual Tax: $53,480
Utilities
- Water & Sewer: Public
- Heating: Natural Gas, Forced Air, Radiant, Zoned, Radiant Floor
- Cooling: Ceiling Fan(s), Central Air, Zoned
Location
- County: Cook
Listing Details
Investment Summary
- Monthly Cash Flow
- -$14,890
- Cap Rate
- 0.2%
- Cash-on-Cash Return
- -26.3%
- Debt Coverage Ratio
- 0.03
- Internal Rate of Return (5 years)
- -21.4%
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:
| $2,950,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,360,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $590,000 |
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:
| $88,500 |
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:
| $678,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 8,506 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $347 |
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:
| $2,360,000 |
|---|---|
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:
| 6.810% |
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:
| $15,401 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $4,457 |
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:
| $504 |
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:
| $20,362 |
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:
| $7,200 | $86,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$432 | -$5,184 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $6,768 | $81,216 |
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. | 62% | -$4,457 | -$53,481 |
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% | -$504 | -$6,048 |
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% | -$576 | -$6,912 |
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% | -$360 | -$4,320 |
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% | -$360 | -$4,320 |
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 | 87% | -$6,257 | -$75,081 |
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:
| $511 | $6,132 |
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. | -$15,401 | -$184,812 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $14,890 | $178,680 |