$470,000
Investment Summary
- Monthly Cash Flow
- -$577
- Cap Rate
- 4.2%
- Cash-on-Cash Return
- -6.4%
- Debt Coverage Ratio
- 0.74
- Internal Rate of Return (5 years)
- -2.2%
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
A great property for the boater, camper, handyman, gardener, cooking enthusiast and entertainer in all of us - This is the property that will check all the boxes! This well-maintained home features a structure convertible to rental property or add'l family housing, covered parking for RVs and boats, a workshop and a greenhouse w/a veg garden on a quiet 1.2-acre corner lot on a dead-end street. The main house begins w/an ~300sf front porch from which to enjoy the shade trees and serene view of the lake. Inside, you will feel welcomed into the spacious LR w/lots of windows and a wood-burning fireplace (w/propane starter), updated heart/pine floors and crown molding. The chef's kitchen features a 6-burner, Thermador, high-end range w/pot filler, solid granite countertops, loads of cabinet space, quad electrical outlets, a movable island, breakfast area and walk-in pantry. The formal dining room easily accommodates 12-14 people and a china cabinet. Multiple sets of French doors open the DR to the LR, kitchen and outside, allowing an even flow when entertaining. Off the kitchen is a ½bath w/entry into the laundry room w/even more cabinets! The ground floor accommodates the master suite and a newly remodeled master bath w/separate tub and frameless glass shower, 12''x24'' porcelain tile, a dbl quartz vanity, a wall-mounted electric fireplace/heater and hidden cabinets behind sliding mirrors over the vanity. Upstairs are 2 very spacious BRs, generous closet space and a full bath in the hall between. The finished bonus room currently serves as a multipurpose extra BR, workout room and office w/its own, dedicated HVAC. Finally, the 2.5 car garage contains a storm shelter (which can stay or be removed at the buyer's discretion), and a surplus ½bay garage perfect for lawn equipment, etc. As mentioned before, one of the existing structures (currently used as a man cave +/-728sf) can be easily converted to produce rental income or can serve as add'l, separate housing for parents/grown children because of the full bath and kitchenette, dedicated tankless water heater, epoxy floor and in-wall mini-split HVAC. It is currently set up for a generator (not included) to more economically accommodate the owners w/extra living space during power outages. The attached covered patio is perfect for grilling/smoking meats using the built-in propane connection while watching your outdoor TV. Rounding out the perks are the 2 RV power connections located on either side of the bldg (50-amp and 30-amp) - added by the current owners to accommodate Gulf Coast hurricane evacuees. BUT, there is SO MUCH MORE!!! Exiting through the lake side formal dining room French doors, there is another covered patio (for a total of 3!), which opens to a beautiful veg garden and custom built, metal greenhouse (10'x12' w/water and electricity). The veg garden, as well as the numerous flowerpots adorning other patios, currently have automatic irrigation systems. Truly everything has been thought of and executed! ... and yet, THERE IS MORE.... Placed toward the back of the property, so as not to interfere w/curb appeal, is covered parking for RVs, boats, 4-wheelers, golf carts or anything else that you may want to protect from the elements. The paved middle portion of this structure is 24'x36' and houses the current owners' RV and pontoon boat. It has a 30-amp RV electrical hook-up (the 3rd RV electrical hook-up on the property), as well as water and sewerage connections. To one side of this area is a 12''x36'' covered area w/gravel pad, and to the other side is a commercial grade, insulated, red iron workshop with electricity, built to accommodate almost any tinkering notions the new owners may think up. Call your REALTOR today for an appointment to view this wonderful home!
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Location
Property Details
Parking
- Description: Garage, Garage Door Opener
- Details: Attached, Covered, Garage Faces Side, RV Carport, Storage
- Garage Spaces: 4
- Spaces Total: 10
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Partial): 1
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 7
- # of Stories: 1
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Brick Veneer
- Foundation: Slab
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 49720734000
- Lot Size: 47916 sqft
Property Information
- Property Type: Single Family Residence
- Style: Farmhouse
- Year Built: 1996
Tax Information
- Annual Tax: $939
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Ceiling Fan(s), Central Air, Multi Units
Location
- County: Hinds
Listing Details
Investment Summary
- Monthly Cash Flow
- -$577
- Cap Rate
- 4.2%
- Cash-on-Cash Return
- -6.4%
- Debt Coverage Ratio
- 0.74
- Internal Rate of Return (5 years)
- -2.2%
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:
| $470,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$376,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $94,000 |
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:
| $14,100 |
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:
| $108,100 |
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:
| $376,000 |
|---|---|
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:
| $2,224 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $78 |
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:
| $175 |
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:
| $2,477 |
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:
| $2,500 | $30,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$150 | -$1,800 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,350 | $28,200 |
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. | 3% | -$78 | -$939 |
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% | -$175 | -$2,100 |
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% | -$200 | -$2,400 |
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% | -$125 | -$1,500 |
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% | -$125 | -$1,500 |
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 | 28% | -$703 | -$8,439 |
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:
| $1,647 | $19,764 |
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. | -$2,224 | -$26,688 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $577 | $6,924 |