$2,300,000
Investment Summary
- Monthly Cash Flow
- -$6,754
- Cap Rate
- 2.6%
- Cash-on-Cash Return
- -15.3%
- Debt Coverage Ratio
- 0.43
- Internal Rate of Return (5 years)
- -10.8%
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
Situated in the heart of the countryside, this high-quality farmhouse is designed to offer both rustic elegance and an exceptional equestrian lifestyle. The home features a luxurious primary suite conveniently located on the main level, offering ease and comfort for everyday living. The exterior is finished in a charming combination of brick and concrete fiber siding, with timeless farmhouse character. A welcoming covered front porch and a spacious rear porch set the tone for relaxed country living—the rear porch complete with a cozy fireplace, reclaimed solid beam mantle, and vaulted shiplap ceilings. A large wrap-around deck extends the living space outdoors, while a terrace-level garage provides additional utility. A side-entry garage and fully fenced backyard add to the property's practicality. All porches and the deck feature wire railing for both function and flair. The rear porch also boasts a concrete hearth for chilly evenings. Inside, the main level showcases hardwood flooring throughout, a custom staircase with reclaimed newel posts, hog wire spindles, and warm wood railings. The vaulted Great room is anchored by a fireplace with a beam mantle, tongue and groove ceilings, and thoughtfully designed lighting. An adjoining wet bar includes honed granite countertops, a hammered copper sink, custom cabinetry, and a designer tile backsplash—perfect for entertaining in style. The kitchen is a chef’s dream, updated with quartz countertops, custom shaker cabinets, tile backsplash, a generous walnut-topped island, and high-end stainless appliances from Kutch, Bosch, and Frigidaire. A porcelain farm sink and pot filler complete the space, along with tasteful pendant lighting overhead. The primary bedroom is a serene retreat, with vaulted ceilings and a walk-in closet featuring custom wood shelving and built-ins. The renovated primary bath offers marble floors, quartz countertops, a hammered copper freestanding soaking tub, and an oversized zero-entry shower with frameless glass, linear drains, and dual showerheads. Two half baths serve the main level, one of which is located in the spacious laundry/craft room and includes a custom dog shower—ideal after an afternoon exploring the property. Upstairs, you’ll find four additional bedrooms, three well-appointed baths, and a private study over the garage. Each bedroom features hardwood floors, while the baths include quartz counters, designer tile, furniture-style vanities, glass shower enclosures, and pebble tile floors. The full terrace level adds even more living space with a wet bar, billiard room, game room, media room, full bath, garage, and storage room. Finishes include drywall walls and ceilings, brick accents, exposed ceiling beams, and plank tile flooring. The terrace bath features an iron farmhouse sink and a frameless glass shower with zero-entry tile flooring. The wet bar is outfitted with a Zinc countertop, composite sink, custom cabinets, and a dishwasher—ready for relaxed gatherings or lively game nights. Additional home features include barn-style doors, two water heaters, a central vacuum system, four HVAC units, double-pane vinyl windows, and also dual access to Chilhoe Road. Equestrian Facilities This picturesque property operates as a boutique horse farm, complete with four fully fenced (four-board) pastures, a riding arena 200 x 100,regulation size round pen and a thoughtfully designed four-stall barn. The barn includes a feed room, tack room, and two attached run-in sheds, all constructed with wood walls and classic barn doors. A concrete floor runs throughout the barn, an outdoor hose bib for convenience. Offering a perfect balance of refined living and equestrian functionality, this property is an ideal haven for horse lovers, goat lovers, chicken lovers or any array of farm animals. Giddy UP to a this wonderful farm for those seeking a peaceful lifestyle rooted in the rhythm of country life. Located in the SWEET Spot of Cherokee County.
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Location
Property Details
Parking
- Description: Attached, Driveway, Garage, Garage Faces Side, Kitchen Level, Parking Pad
- Details: Attached, Driveway, Garage, Garage Faces Side, Kitchen Level, Parking Pad
- Garage Spaces: 3
- Spaces Total: 3
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Partial): 2
- # of Baths (Total): 7.0
Interior Features
- # of Stories: 2
- Basement: Yes
- Basement Description: Daylight, Exterior Entry, Finished, Walk-Out Access
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Brick Veneer
- Foundation: Concrete Perimeter
- Roof Type: Gable
- Roof Material: Composition, Shingle
Land Information
- Land Use: Residential
- Land Use Subtype: Rural/Agricultural
Lot Information
- Parcel ID: 03N18036
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Farmhouse, Modern, Traditional
- Year Built: 2004
Tax Information
- Annual Tax: $12,523
Utilities
- Water & Sewer: Public
- Heating: Central, Forced Air, Natural Gas, Zoned
- Cooling: Ceiling Fan(s), Electric, Zoned
Location
- County: Cherokee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$6,754
- Cap Rate
- 2.6%
- Cash-on-Cash Return
- -15.3%
- Debt Coverage Ratio
- 0.43
- Internal Rate of Return (5 years)
- -10.8%
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:
| $2,300,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,840,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $460,000 |
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:
| $69,000 |
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:
| $529,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 6,859 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $335 |
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:
| $1.28 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,840,000 |
|---|---|
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:
| 6.625% |
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:
| $11,782 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,044 |
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:
| $616 |
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:
| $13,442 |
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:
| $8,800 | $105,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$528 | -$6,336 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $8,272 | $99,264 |
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. | 12% | -$1,044 | -$12,523 |
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% | -$616 | -$7,392 |
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% | -$704 | -$8,448 |
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% | -$440 | -$5,280 |
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% | -$440 | -$5,280 |
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 | 37% | -$3,244 | -$38,923 |
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:
| $5,028 | $60,336 |
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. | -$11,782 | -$141,384 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $6,754 | $81,048 |