$1,625,522
Investment Summary
- Monthly Cash Flow
- -$4,190
- Cap Rate
- 2.6%
- Cash-on-Cash Return
- -13.4%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -9.0%
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
This spectacular and luxurious lakefront property in the highly sought-after Lakelands Subdivision offers resort-style living at its finest! Imagine boating, fishing, and swimming directly from your own backyard while enjoying sensational water views every day. Boasting 4 spacious bedrooms, 5.5 bathrooms, 4 fireplaces, a finished walk-out basement, and an inground pool with diving board, dock, and boat lift-this extraordinary home is designed for both relaxation and entertaining. With 4 levels of living space, the residence features 4,396 square feet above grade and an additional 2,780 square feet in the walk-out basement, totaling a stunning 7,176 square feet. Step into the grand two-story foyer with a dramatic split staircase that opens into a two-story family room showcasing a floor-to-ceiling stone gas fireplace, a wall of windows with dual sliding doors to the rear deck, a tray ceiling, newer wide-plank flooring, and custom built-in cabinetry-ideal for your entertainment system. The gourmet kitchen is a chef's dream, complete with high-end stainless steel appliances, a stainless hood vented to the exterior, custom cabinetry, a two-tier island with breakfast bar and vegetable sink, built-in pantry cabinets with roll-out drawers, a butler's pantry with wet bar, wine refrigerator, newer two-drawer mini refrigerator, and a spacious eat-in area. On the main floor, you'll also find a private office with a coffered ceiling and gas fireplace, along with a formal dining room featuring brand-new wood laminate flooring. Upstairs, the luxurious primary suite includes a gas fireplace, sitting area, an incredible walk-in closet, and a spa-like bathroom with a huge walk-in shower, dual vanities, heated floors, a whirlpool tub, vaulted ceiling, and skylight. Two additional bedrooms on the second floor offer ensuite bathrooms, while the third-floor fourth bedroom, also with an ensuite bath, is generously sized and could easily be divided to create a fifth bedroom if needed. The breathtaking walk-out basement includes a home theater area with a stone fireplace, a fully equipped kitchenette with dishwasher, refrigerator, and quartz countertops, a recreation area, a full bathroom, ample storage rooms, and a covered porch with eating, bar, and lounge space-perfect for entertaining. The covered outdoor area features an epoxy floor and a SunSetter brand retractable awning. Enjoy the Trex wrap-around second-floor deck, the inground pool with brick paver surround, and a newer retractable cover, liner, and pool heater (all replaced in 2021). A second brick paver patio with a fire pit sits right by the boat dock for cozy evenings by the lake. Additional highlights include radiant heat throughout the main level and primary bathroom, a newer dual-zone HVAC system, professionally landscaped grounds with inground sprinkler and accent lighting, and a heated 3-car garage with newer overhead doors. Located within award-winning District 202 schools-Freedom Elementary, John F. Kennedy Middle School, and Plainfield East High School-this home is also conveniently close to shopping, dining, and expressways. This is the lakefront dream home you've been waiting for!
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Location
Property Details
Parking
- Details: Concrete, Garage Door Opener, On Site, Attached, Garage
- Garage Spaces: 3
- Spaces Total: 3
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Total): 6.0
Interior Features
- # of Rooms: 12
- Basement: Yes
- Basement Description: Finished, Exterior Entry, Storage Space, Walk-Up Access, Full, Walk-Out Access
- Fireplace: Yes
Exterior Features
- Foundation: Concrete Perimeter
- Roof Material: Asphalt
HOA
- Has HOA: Yes
- HOA Fee: $180/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 070135402007
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Traditional
- Year Built: 2003
Tax Information
- Annual Tax: $24,030
Utilities
- Water & Sewer: Public
- Heating: Natural Gas, Forced Air, Radiant, Radiant Floor
- Cooling: Central Air
Location
- County: Will
Listing Details
Investment Summary
- Monthly Cash Flow
- -$4,190
- Cap Rate
- 2.6%
- Cash-on-Cash Return
- -13.4%
- Debt Coverage Ratio
- 0.46
- Internal Rate of Return (5 years)
- -9.0%
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:
| $1,625,522 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,300,418 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $325,104 |
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:
| $48,766 |
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:
| $373,870 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,396 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $370 |
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:
| $1.82 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,300,418 |
|---|---|
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:
| $7,692 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $2,003 |
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:
| $560 |
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:
| $10,255 |
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:
| $8,000 | $96,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$480 | -$5,760 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $7,520 | $90,240 |
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. | 25% | -$2,003 | -$24,030 |
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% | -$560 | -$6,720 |
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% | -$640 | -$7,680 |
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% | -$400 | -$4,800 |
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% | -$400 | -$4,800 |
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. | 0% | -$15 | -$180 |
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 | 50% | -$4,018 | -$48,210 |
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:
| $3,502 | $42,024 |
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. | -$7,692 | -$92,304 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $4,190 | $50,280 |