$1,499,900
Investment Summary
- Monthly Cash Flow
- -$3,691
- Cap Rate
- 2.7%
- Cash-on-Cash Return
- -12.8%
- Debt Coverage Ratio
- 0.48
- Internal Rate of Return (5 years)
- -8.4%
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
PLEASE CALL LISTING AGENT TO DISCUSS THIS CLIENT'S UNIQUE MOTIVATION. RARE OPPORTUNITY - Your clients will not be disappointed. This is a wonderful home with great flow. Featuring 5 LARGE bedrooms and 5 full baths. On quiet Cove Lane sits on over 3 manicured acres in the Bellevue Farms estate area in the privately managed magical Lake Caroline community. This property has maximum lake view living and is the perfect home for those preferring a staycation at a waterfront estate. Lake Caroline is the second largest lake in MS with an 11-acre park, boating, fishing, tennis, and golfing on a championship course. There's even a top notch restaurant within walking distance. Because the land was developed with wildlife in mind, Lake Caroline is home to pelicans, herons, bald eagles, and deer, making it a nature haven. Sunrise and sunsets on the lake are awesome spectacular events. This beautiful home sits stately overlooking the lake and can be seen as you drive over the lake. It is location and acerage make it one of the best waterfront properties in the county. This generously sized custom-built home on a circular driveway was built by master-builder George Henson and is positioned on the lot for maximum natural light and lake-view living. For the buyer who enjoys entertaining or cozy lake living, to the outdoor sports-minded one who would prefer to vacation at home at a waterfront estate, this home exudes a comfortable lifestyle with plenty of room for guests. The oversized entertaining patio with Carolina and Star jasmine vined arbor provides a fragrant relaxing oasis. The pool with integrated hot tub and water features was designed to accentuate lake viewing providing a private resort feel to the property. Features include kitchen keeping room, formal dining, Great room with fireplace, surround sound family/media room, and his and her studies. The downstairs master bedroom suite overlooks the patio, pool, and lake. The master bath has his and her vanities, separate walk-in closets and a marble tiled shower and spa tub. Another guest bedroom with walk-in closet and bath are downstairs. This is a true in-law suite. A large great room with fireplace and custom built-ins also overlook the patio, pool, and lake. Upstairs features a private bath for each of the 3 bedrooms in addition to their own custom closet with built-ins. A game room/media room completes the upstairs. Antique heart pine and travertine floors, exposed brick walls, custom built-in cabinets with bookcases, wood beam ceilings, and arched doorways are a few of the custom design features that add uniqueness without being overly dramatic. The lakeview gourmet kitchen and keeping room overlook the patio, and pool and features a standing Viking 6 burner gas range, Subzero refrigerator, granite countertops, large cooking/entertaining island, rose quartz bar/buffet, dishwasher, separate ice machine, wine rack, and plate display divider. The lake view Master suite has his and her bath vanities and separate walk-in closets with a dual shower heads marble tile shower and spa tub. Lots of storage up and down including walk-in pantry and large laundry with full size freezer space. Antique heart pine and travertine floors, exposed brick and wood beam ceilings highlight the practical elegance. In addition to the 2- car attached garage, there is a separate 4 car garage/workshop (yes, that's 6 total) designed for large boat storage. The neighborhood also offers additional boat or RV storage. On the lake's edge is a separate boat house with storage, utility sink and 2 boat docks under roof. Electric boat lift, separate patio and large dock promote the at-the-lake experience. This is a trophy and investment property not to be missed.
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Location
Property Details
Parking
- Description: Attached, Garage Door Opener, Garage Faces Side, Storage, Circular Driveway
- Details: Attached, Garage Door Opener, Garage Faces Side, Storage, Circular Driveway
- Garage Spaces: 6
- Spaces Total: 6
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Total): 5.0
Exterior Features
- Exterior Walls Materials: Brick Veneer
- Roof Type: Hip
HOA
- Has HOA: Yes
- HOA Fee: $1,045/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 081A01001/01.05
- Lot Size: 134164 sqft
Property Information
- Property Type: Single Family Residence
- Style: Georgian
- Year Built: 2002
Tax Information
- Annual Tax: $6,100
Utilities
- Heating: Central, Fireplace(s), Natural Gas
- Cooling: Ceiling Fan(s), Central Air
Location
- County: Madison
Listing Details
Investment Summary
- Monthly Cash Flow
- -$3,691
- Cap Rate
- 2.7%
- Cash-on-Cash Return
- -12.8%
- Debt Coverage Ratio
- 0.48
- Internal Rate of Return (5 years)
- -8.4%
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:
| $1,499,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,199,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $299,980 |
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:
| $44,997 |
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:
| $344,977 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 0 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| n/a |
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:
| n/a |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,199,920 |
|---|---|
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:
| 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:
| $7,098 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $508 |
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:
| $406 |
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:
| $8,012 |
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:
| $5,800 | $69,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$348 | -$4,176 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $5,452 | $65,424 |
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. | 9% | -$508 | -$6,100 |
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% | -$406 | -$4,872 |
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% | -$464 | -$5,568 |
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% | -$290 | -$3,480 |
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% | -$290 | -$3,480 |
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% | -$87 | -$1,044 |
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 | 35% | -$2,045 | -$24,544 |
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:
| $3,407 | $40,884 |
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. | -$7,098 | -$85,176 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $3,691 | $44,292 |