$1,175,000
Investment Summary
- Monthly Cash Flow
- -$4,598
- Cap Rate
- 1.5%
- Cash-on-Cash Return
- -20.4%
- Debt Coverage Ratio
- 0.24
- Internal Rate of Return (5 years)
- -15.7%
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
Retreat. Reconnect. Reimagine. Your Own multigenerational Estate in Oconee County. Privacy with Pool, 3 Homes, and Equestrian Space. Tucked away on more than 15 wooded acres in one of Georgia's most sought-after counties, this exceptional property combines space, serenity, and flexibility just minutes from the UGA Equestrian Complex and within easy reach of Watkinsville, Madison, and Athens. Whether you're a local buyer seeking multi-generational living or a national buyer looking for a peaceful Georgia retreat with income potential, this estate offers a rare opportunity to own a versatile compound in the award-winning Oconee County School District. The land is well-suited for equestrian use, personal vineyards, gardens, or additional structures making it easy to tailor the property to your lifestyle. The main home offers four bedrooms and three and a half baths, complemented by inviting communal spaces that make everyday living and entertaining a pleasure. Hardwood floors flow through the home, which also features a hearth fireplace in the kitchen, formal dining room, music room, dual offices (on the main and upper floors), a wine cellar, home theater, and space for a full gym. The primary suite includes its own fireplace, a private porch overlooking the pool, a large walk-in closet, and a spa-style bath with a steam shower. Walk down the breezeway to the three-car garage, you will find a self-contained two-bedroom guest suite including a full kitchen, laundry, and open living space with new LVP flooring and fresh paint ideal for extended family, guests, or short-term rentals. One bedroom is lofted, adding architectural interest and flexibility. Above the garage, a finished bonus room provides even more space for a home office, creative studio, or private retreat. The separate pool house further extends the livability of the property, featuring a bedroom, one and a half baths, a walk-in soaking tub, outdoor shower, full kitchen, and laundry. Its perfectly suited for poolside guests, extended stays, or vacation rental potential. The outdoor features are equally impressive: a tiled, heated saltwater pool with tanning ledge, a childrens playhouse, mature landscaping, a small vineyard, a wet pond, and Wolf Creek bordering the property. An outbuilding offers additional storage, and a cleared section of land is ready for a barn, workshop, or future expansion. With a highly motivated seller and pricing below recent appraisal, 1451 Tappan Spur Road offers a unique opportunity to own a distinctive and adaptable property in one of Georgia's most desirable areas. Offered Below Appraised Value Motivated Seller New in roof in 2024 on all buildings. Main House - HVAC both units new in 2015. Guest House HVAC new in 2013. New mini split in 2020- pool house. Mini split in above garage bonus room 2024 Drastic price adjustment! Seller will consider owner financing options.
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Location
Property Details
Parking
- Description: Attached Garage
- Details: Garage, Off Street, Parking Pad
- Garage Spaces: 8
- Spaces Total: 8
Bedroom Information
- # of Bedrooms: 7
Bathroom Information
- # of Baths (Full): 6
- # of Baths (Total): 7.0
Interior Features
- # of Stories: 2
- Basement Description: Concrete, Crawl Space, Interior Entry
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Combination
- Foundation: Block, Slab
- Roof Type: Gable
- Roof Material: Composition, Metal
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Rural/Agricultural
Lot Information
- Parcel ID: A10076
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Bungalow/Cottage, Ranch
- Year Built: 2001
Tax Information
- Annual Tax: $6,125
Utilities
- Water & Sewer: Private, Well
- Heating: Heat Pump, Central
- Cooling: Ceiling Fan(s), Central Air, Dual, Electric, Heat Pump, Window Unit(s)
Location
- County: Oconee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$4,598
- Cap Rate
- 1.5%
- Cash-on-Cash Return
- -20.4%
- Debt Coverage Ratio
- 0.24
- Internal Rate of Return (5 years)
- -15.7%
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:
| $1,175,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$940,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $235,000 |
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:
| $35,250 |
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:
| $270,250 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 6,659 |
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:
| $0.42 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $940,000 |
|---|---|
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:
| $6,019 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $511 |
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:
| $196 |
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:
| $6,726 |
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:
| $2,800 | $33,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$168 | -$2,016 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,632 | $31,584 |
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. | 18% | -$511 | -$6,126 |
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% | -$196 | -$2,352 |
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% | -$224 | -$2,688 |
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% | -$140 | -$1,680 |
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% | -$140 | -$1,680 |
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 | 43% | -$1,211 | -$14,526 |
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:
| $1,421 | $17,052 |
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. | -$6,019 | -$72,228 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $4,598 | $55,176 |