$224,999
Investment Summary
- Monthly Cash Flow
- -$229
- Cap Rate
- 4.9%
- Cash-on-Cash Return
- -5.3%
- Debt Coverage Ratio
- 0.80
- Internal Rate of Return (5 years)
- -1.2%
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
Under contract-accepting backup offers. GROUND FLOOR UNIT - ALL OFFERS CONSIDERED-FLEXIBLE SALE/LEASE - SELLER FINANCING AVAILABLE-NO BANKS REQUIRED. Monthly Seller Financing payment to Seller can be under $1500. Interest RATE can be below market, the larger the down payment the lower the rate. Call Agent for SELLER phone number to discuss financing. Agent can arrange realty access. ----------- NOTE to HomeBuyers:Problems documenting Income? Credit challenged? Did you know NO BANKS NEEDED to buy a home? See suggestions that follow. Foreign Buyers & Buyer agents welcome. --------------- 1-(First-time) Home buyers, do you know the highest price you can pay for home? Usually your highest price home you can afford will depend on YOUR DOWN PAYMENT amount and the amount you can pay monthly towards your housing payment (PITIA). A loan officer may also limit your projected MONTHLY HOUSING AMOUNT to a percentage of your income. --- Tip-if you have a smaller down payment, consider Down Payment Assistance Programs (DPAPs which also includes forgivable grants), many require taking a 1 day class. Many Loan Officers know of some DPAPs, you can also search the internet particularly in the city/county that you are considering buying a home. There are different DPAPs depending on the county / city. Some DPAPs are available only to law enforcement or 1st responder or other occupations and are sponsored by a city / county to encourage this occupations to live in certain areas. Rural/non-urban places also have DPAPs. Tip-if you are credit challenged seek ALTERNATE CREDIT documentation programs. ------ Many loan officers only offer a few alt-doc loans, you may also seek a different loan officer that offer FHA loans or Rural loans. ---------------- Tip-if you are NOT a w-2 employee you may want to seek ALTERNATE INCOME documentation loans. Many loan officers only offer a few alt-income doc loans, others offer FHA/Rural loans. Seek different loan officers for your situation. -------------------------------------- 2-MORE TIPS-if you are credit challenged OR if you have harder to document income, a bank/institutional lender may still likely approve you for a loan so long as you have larger down payment of 20-30% of your retail price. THERE ARE HOMES YOU CAN BUY WITHOUT BANK if you have a larger down payment. Foreign Buyers usually have a down payment of at least a 30%. And there are Homes that can be purchased with down payment of AT LEAST 30% of the price and the seller will finance the rest. NO BANK REQUIRED. BUYER REALTY AGENTS welcome. Foreign Buyers welcome (who usually minimally put 30% down payment). NO BANKS REQUIRED. ------------------ NOTE: (First Time) home buyers, once a seller agrees to sell you a home. You will need: (the Realty Agent will usually do, if you are using an agent) i-a written sales agreement [that will specify a good-faith/earnest money deposit to reserve home for you while the paperwork/deed is drafted to be signed on a certain date (the closing date)] ii-to deposit the earnest money with an attorney/title company; and then iii-on closing date to sign all deed paperwork with the title closing company. --------------------------- Hunters Creek known for community activities, landscaping & private parks -Golfview offers pool, spa, club house & fitness room. Walk parking lot (w/security cameras) for exercise. Walk to Target (w/grocery) & Bus Stop(for guests) at corner. Just minutes from shopping, movies, dining, golf, etc. as well as major highways for commute
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Location
Property Details
Parking
- Description: Carport
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 8
- # of Stories: 1
Exterior Features
- Exterior Walls Materials: Concrete Block
- Foundation: Block
- Roof Material: Shingle
HOA
- Has HOA: Yes
- Association: Leland Management| Vanessa Furlow/Enid Perez
- HOA Fee: $271/quarterly
- Additional Association: HUNTERS CREEK ASSOCIATION
- Additional HOA Fee: $271/quarterly
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 272429305005100
- Lot Size: 15973 sqft
Property Information
- Property Type: Condominium
- Year Built: 2000
Tax Information
- Annual Tax: $3,298
Utilities
- Water & Sewer: Public
- Heating: Central
- Cooling: Central Air
Location
- County: Orange
Listing Details
Investment Summary
- Monthly Cash Flow
- -$229
- Cap Rate
- 4.9%
- Cash-on-Cash Return
- -5.3%
- Debt Coverage Ratio
- 0.80
- Internal Rate of Return (5 years)
- -1.2%
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:
| $224,999 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$179,999 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $45,000 |
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:
| $6,750 |
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:
| $51,750 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,276 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $176 |
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:
| $1.57 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $179,999 |
|---|---|
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:
| $1,153 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $275 |
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:
| $140 |
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:
| $1,568 |
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:
| $2,000 | $24,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$120 | -$1,440 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $1,880 | $22,560 |
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. | 14% | -$275 | -$3,298 |
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% | -$140 | -$1,680 |
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% | -$160 | -$1,920 |
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% | -$100 | -$1,200 |
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% | -$100 | -$1,200 |
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. | 9% | -$181 | -$2,172 |
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 | 48% | -$956 | -$11,470 |
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:
| $924 | $11,088 |
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. | -$1,153 | -$13,836 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$229 | -$2,748 |