$4,800,000
Investment Summary
- Monthly Cash Flow
- -$20,235
- Cap Rate
- 0.6%
- Cash-on-Cash Return
- -22.0%
- Debt Coverage Ratio
- 0.11
- Internal Rate of Return (5 years)
- -17.2%
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
Price improvement. This home must be seen to be fully appreciated. Come by and discover a residence where sophistication meets serenity. 1515 Bluff Point Drive is an architectural triumph perched atop South Mountain in the prestigious Deer Ridge community of Suncrest. Built in 2021, this custom estate spans nearly an acre and delivers an exclusive lifestyle with unparalleled panoramic views and luxurious amenities, all just 10 minutes from Draper's vibrant downtown and near the transformative Point development. The Ultimate in Privacy and Prestige This home is designed for those who value exclusivity and impeccable craftsmanship. Upon entering, you're immediately captivated by breathtaking, unobstructed views that stretch from the Great Salt Lake to the University of Utah and beyond. Award-winning architect James Carroll thoughtfully designed every detail to maximize these vistas, with floor-to-ceiling windows in every room creating a seamless connection to the surrounding landscape. Tailored for Elevated Living The estate's living room is a statement in grandeur, featuring 10-foot sliding glass panels that open to a stunning outdoor terrace, perfect for entertaining or quiet reflection. Every space in this home is crafted to enhance your lifestyle-from the state-of-the-art gourmet kitchen featuring a custom French Lacanche stove to the luxurious primary suite, where a bespoke fireplace and spa-inspired bath offer a private sanctuary. Exceptional Features for a Distinctive Buyer This home was created with the discerning buyer in mind, offering unique spaces and amenities that make it one of a kind: Featured in Elle Magazine, the 800-square-foot custom children's playroom includes built-in bunk beds, a slide, and whimsical design elements, making it a dream space for families or a reimaginable flex space. A professional-grade sports court with maple flooring and custom graphics ensures a private space for athletic pursuits. Two fully independent ADU apartments, ideal for hosting extended family, generating rental income, or accommodating live-in staff. An elevated RV garage and two additional garages provide space for luxury vehicles, adventure gear, or large-scale storage. Designed for the Discerning Buyer's Needs. The estate includes every feature required by today's luxury homeowner: Smart home technology with a comprehensive security system. Three grand fireplaces offering warmth and sophistication. Ready-to-convert elevator shaft, ensuring accessibility at every life stage. Pre-plumbing for a negative-edge pool, perfect for creating your custom outdoor retreat. Location Meets Lifestyle. For the buyer seeking both tranquility and connection, this estate offers the best of both worlds. Enjoy the privacy of South Mountain while staying close to Draper's amenities, excellent schools, and premier dining and shopping. The upcoming Point development ensures proximity to Utah's next hub for innovation, dining, and entertainment, enhancing both your lifestyle and investment. 1515 Bluff Point Drive This is not just a home-it's a lifestyle. Whether you're seeking a sanctuary to unwind or an exceptional property for entertaining, this estate offers the perfect blend of luxury, privacy, and convenience. Contact us today to schedule your private tour and experience this one-of-a-kind offering. This version speaks directly to buyers who value privacy, luxury, and convenience while emphasizing the home's investment potential and suitability for high-end living.
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Location
Property Details
Parking
- Description: Rv Parking
- Details: RV Access/Parking, Attached
- Garage Spaces: 11
- Spaces Total: 24
Bedroom Information
- # of Bedrooms: 7
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Partial): 2
- # of Baths (Total): 6.0
Interior Features
- # of Rooms: 23
- # of Stories: 4
- Basement: Yes
- Basement Description: Daylight, Full, Walk-Out Access
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Stucco
- Roof Material: Asphalt
HOA
- Has HOA: Yes
- HOA Fee: $152/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 3409376001
- Lot Size: 35719 sqft
Property Information
- Property Type: Single Family Residence
- Style: Stories: 2
- Year Built: 2020
Tax Information
- Annual Tax: $15,615
Utilities
- Heating: Fireplace Insert, Central, Natural Gas, Forced Air, Hot Water
- Cooling: Central Air
Location
- County: Salt Lake
Listing Details
Investment Summary
- Monthly Cash Flow
- -$20,235
- Cap Rate
- 0.6%
- Cash-on-Cash Return
- -22.0%
- Debt Coverage Ratio
- 0.11
- Internal Rate of Return (5 years)
- -17.2%
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:
| $4,800,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$3,840,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $960,000 |
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:
| $144,000 |
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:
| $1,104,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 11,048 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $434 |
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:
| $0.52 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $3,840,000 |
|---|---|
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:
| 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:
| $22,715 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,301 |
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:
| $399 |
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:
| $24,415 |
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:
| $5,700 | $68,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$342 | -$4,104 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $5,358 | $64,296 |
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. | 23% | -$1,301 | -$15,615 |
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% | -$399 | -$4,788 |
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% | -$456 | -$5,472 |
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% | -$285 | -$3,420 |
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% | -$285 | -$3,420 |
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. | 3% | -$152 | -$1,824 |
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% | -$2,878 | -$34,539 |
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:
| $2,480 | $29,760 |
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. | -$22,715 | -$272,580 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $20,235 | $242,820 |