$4,349,000
Investment Summary
We noticed that property taxes and HOA fees are missing—these are standard expenses and should be considered in your estimate.
- Monthly Cash Flow
- -$17,545
- Cap Rate
- 0.8%
- Cash-on-Cash Return
- -21.0%
- Debt Coverage Ratio
- 0.15
- Internal Rate of Return (5 years)
- -16.3%
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
Discover the perfect balance of coastal elegance and modern updates in this exquisite Wrightsville Beach residence, encompassing an impressive 4,400 square feet of opulent living space with 6 sumptuous bedrooms and 6½ lavish baths. Merging prime location with breathtaking design, this sophisticated home is a sanctuary of luxury, comfort, and privacy. Lovingly maintained since its establishment as a primary residence in 2010, every detail reflects an unwavering commitment to excellence. The ground level features two expansive garages, perfectly suited for storing surfboards, kayaks, and all your seaside adventures. Step outside to an enchanting outdoor patio adorned with lush landscaping, creating an inviting atmosphere for relaxation and entertainment. Perfect your golf game on your private putting green, and after a day at the beach, indulge in the convenience of an outdoor shower. An elevator provides effortless access to all four levels of this magnificent home. On the second floor, you will find four generously-sized bedrooms, a welcoming family room, a rejuvenating steam shower, and charming covered porches. The heart of the home, located on the third floor, boasts an expansive open-plan living space where the living room seamlessly flows into the dining area and gourmet kitchen. This culinary sanctuary features top-tier stainless steel appliances, elegant granite countertops, and custom cabinetry for ample storage. A central island with a breakfast bar offers additional seating and a perfect workspace for meal preparation. Off from the dining room you will have a covered porch with captivating ocean and waterway views—a peaceful retreat where cherished memories are made. Roof replaced in 2019 and Hvacs replaced between 2020-2024. Short term rentals are allowed and we have projections for STR we can provide Situated on beach access 31 and just steps from the ocean, this home is a short walk to Banks Channel, Tower 7, Roberts Market, and iconic Wrightsville Beach landmarks. Embrace the ultimate coastal lifestyleyour dream home awaits. Not only is this the perfect primary or second home but the Rental Pro forma could make a great investment for any investors rental portfolio. Reach out to obtain a video we have created showcasing all of what Wrightsville Beach has to offer along with the full tour of the home captured together. Home comes fully furnished minus a small list of select items. We also have rental pro forma available upon request. This is your chance to own a piece of paradise!
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Location
Property Details
Parking
- Description: Additional Parking, Garage Faces Front, Concrete
- Details: Attached, Covered, Additional Parking, Concrete, Garage Door Opener, See Remarks, Lighted, Paved
- Garage Spaces: 0
- Spaces Total: 4
Bedroom Information
- # of Bedrooms: 6
Bathroom Information
- # of Baths (Full): 6
- # of Baths (Partial): 1
- # of Baths (Total): 7.0
Interior Features
- # of Rooms: 12
- # of Stories: 4
- Basement Description: None
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood Shingle
- Foundation: Other
HOA
- Association: NONE
Land Information
- Land Use: Residential
- Land Use Subtype: Duplex
Lot Information
- Parcel ID: R06308020001001
- Lot Size: 12502 sqft
Property Information
- Property Type: Condominium
- Year Built: 2005
Tax Information
- Annual Tax: $0
Utilities
- Water & Sewer: Public
- Heating: Heat Pump, Fireplace(s), Electric, Forced Air
- Cooling: Ceiling Fan(s), Central Air
Location
- County: New Hanover
Listing Details
Investment Summary
We noticed that property taxes and HOA fees are missing—these are standard expenses and should be considered in your estimate.
- Monthly Cash Flow
- -$17,545
- Cap Rate
- 0.8%
- Cash-on-Cash Return
- -21.0%
- Debt Coverage Ratio
- 0.15
- Internal Rate of Return (5 years)
- -16.3%
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:
| $4,349,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$3,479,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $869,800 |
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:
| $130,470 |
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:
| $1,000,270 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,405 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $987 |
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:
| $1.00 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $3,479,200 |
|---|---|
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:
| $20,581 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $0 |
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:
| $308 |
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:
| $20,889 |
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:
| $4,400 | $52,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$264 | -$3,168 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,136 | $49,632 |
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.
We noticed that property taxes are missing—these are standard expenses and should be considered in your estimate. | n/a | n/a | n/a |
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% | -$308 | -$3,696 |
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% | -$352 | -$4,224 |
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% | -$220 | -$2,640 |
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% | -$220 | -$2,640 |
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 | 25% | -$1,100 | -$13,200 |
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:
| $3,036 | $36,432 |
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. | -$20,581 | -$246,972 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $17,545 | $210,540 |