$1,395,000
Investment Summary
- Monthly Cash Flow
- -$4,806
- Cap Rate
- 2.0%
- Cash-on-Cash Return
- -18.0%
- Debt Coverage Ratio
- 0.33
- Internal Rate of Return (5 years)
- -13.4%
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
Introducing 1303 Oconee Springs Drive, just listed inside the gates of THE GEORGIA CLUB! Don't miss this fabulous 4 bedroom, 4.5 bath North Oconee Estate Home with a private, parklike backyard overlooking the creek. Measuring 4425 square feet with an oversized three car garage, 1303 Oconee Springs Drive has something to offer everyone. From the rocking chair front porch overlooking a beautiful yard, you enter the home into a well-lit foyer that offers views into the formal dining room that easily seats 12 & the living room boasting a gas fireplace flanked by built-in bookcases. This open concept plan offers full views from the living room to the gourmet kitchen, breakfast room and keeping room featuring another gas fireplace as well as tranquil views from the living room to the private backyard. The well-appointed kitchen boasts custom cabinetry, stunning stone tops that perfectly pair with the tile backsplash, a stainless steel appliance package that includes a gas range top with an oven below, a second wall oven & microwave, and dishwasher, and designer curated lighting that finishes off the kitchen beautifully. A butlers pantry & oversized food pantry with custom built-in shelving are conveniently located between the kitchen & formal dining room. The private spaces of the home are thoughtfully separated from the public spaces with the owners suite tucked in the back wing of the home. The well-sized owners suite boasts beautiful hardwood flooring & picturesque views of the backyard. The spa-like bathroom features beautiful tile, a spacious shower with a convenient zero entry & frameless glass enclosure, a stunning soaking tub with designer curated faucet, and his and her comfort height vanities with stone tops. The owners suite closet opens directly to a well-organized his and her closet with custom closet systems & hardwood flooring. A large, second main floor bedroom with ensuite bath at the front of the home and features hardwood flooring, a walk in closet, & wonderful natural light. The front staircase leads from just beyond the foyer to two nicely appointed bedrooms with ensuite bathrooms & an oversized loft space perfect for a gathering space large enough to host a tv room, gaming space, exercise area or all of the above. The oversize 3 car garage is conveniently connected to the home with easy access to the kitchen through a back hallway. An oversized laundry room with loads of cabinets, stone countertops, and a sink provides a tremendous amount of storage for all the things. A back staircase leads to nicely finished flex space that spans the 3 car garage. This is amazing space for the perfect man-cave, playroom, craft room, or whatever your heart desires. The well-manicured backyard is the crown jewel of this home & cannot be missed! French doors lead from the great room open to a cover porch overlooking this space. The current owner has both a green thumb & a love of nature & has designed this space to be enjoyed all year long there is always something blooming! A stone path leads to flagstone patio that overlooks a bubbling creek. From this perch, you have an unabridged view of nature from the multitude of birds to the changing seasons, & blooming flowers. The home is served by award-winning schools including Dove Creek Elementary, Dove Creek Middle School, & North Oconee High School. The Georgia Club is a gated community with fantastic parks throughout the neighborhood. The Georgia Club is also home to a private country club that currently offers new membership opportunities to residents only. The Georgia Club offers 27 holes of championship golf, lighted clay & hard-court tennis courts, pickleball courts, an aquatic complex with two pools, a fitness center, a full service restaurant & bar open 6 days a week, as well as meeting & event space. The lifestyle offered at The Georgia Club is second to none in the entire Athens/Oconee Area.
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Location
Property Details
Parking
- Description: Attached, Garage, Garage Door Opener
- Details: Attached, Garage Door Opener, Garage, Off Street
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Partial): 1
- # of Baths (Total): 0.0
Interior Features
- # of Stories: 1
- Attic: Yes
- Basement Description: None
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Combination
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Composition
HOA
- Has HOA: Yes
- HOA Fee: $3,190/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: B01N095
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Traditional
- Year Built: 2015
Tax Information
- Annual Tax: $5,165
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Electric
Location
- County: Oconee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$4,806
- Cap Rate
- 2.0%
- Cash-on-Cash Return
- -18.0%
- Debt Coverage Ratio
- 0.33
- Internal Rate of Return (5 years)
- -13.4%
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:
| $1,395,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,116,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $279,000 |
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:
| $41,850 |
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:
| $320,850 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,425 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $315 |
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:
| $0.99 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,116,000 |
|---|---|
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:
| $7,146 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $430 |
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:
| $7,884 |
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. | 10% | -$430 | -$5,165 |
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. | 6% | -$266 | -$3,192 |
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 | 41% | -$1,796 | -$21,557 |
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:
| $2,340 | $28,080 |
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. | -$7,146 | -$85,752 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $4,806 | $57,672 |