$462,000
Investment Summary
- Monthly Cash Flow
- -$1,143
- Cap Rate
- 3.3%
- Cash-on-Cash Return
- -12.9%
- Debt Coverage Ratio
- 0.53
- Internal Rate of Return (5 years)
- -8.5%
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 expansive five-bedroom brick home is tucked-away in the sought-after Villages of Berwick neighborhood. Situated on a generous lot with beautifully maintained landscaping, this home offers elegance, comfort, and smart living. As you step into the welcoming foyer, your eyes are drawn to the gorgeous hardwood floors, leading into a bright and spacious living room and an elegant dining room featuring coffered ceilings and stunning trim work. Flowing seamlessly through arched doorways, you'll find the heart of the home-the kitchen. Designed with modern beauty and function the kitchen space features shaker cabinets, black hardware and fixtures, classic white subway tile backsplash, sleek granite countertops, and a central island with sink and plenty of seating. The kitchen is fully equipped with top-of-the-line smart appliances only 2 years old, making everyday cooking effortless. A butler's pantry and spacious walk-in pantry provide additional storage and a convenient pass-through to the dining room. Perfect for both everyday living and entertaining, the kitchen extends into a spacious breakfast nook with additional seating at the large island, which flows effortlessly into the living room. The bright and inviting living room is filled with natural light from large windows and features a cozy gas fireplace, adding warmth and ambiance on chilly nights. From the living room, a hallway leads to the first of five bedrooms, a large half bathroom, and a convenient mudroom with built-in storage, which connects to the two-car garage, located just steps from the kitchen. A central staircase leads to the upstairs landing, which functions as a spacious family room,playroom, or bonus space. The well-designed split bedroom plan provides privacy, with the primary suite situated to the right of the staircase and the remaining three bedrooms to the left. The primary suite is a true retreat, featuring tall tray ceilings, bright windows, and plush carpeting that create a warm and inviting ambiance. The en-suite bathroom is a luxurious escape with a large walk-in shower, deep soaking tub, and dual vanities with oversized countertops. Expansive his-and-hers walk-in closets provide ample storage space. The remaining bedrooms are spacious and well-lit, each with a walk-in closet, and share a well-appointed full bathroom in the hallway. A centrally located second floor laundry room with upgraded smart appliances adds extra convenience. This home has been impeccably maintained and thoughtfully upgraded with state-of-the-art smart home technology. Almost every feature can be controlled remotely from your phone. The Samsung Bespoke smart display refrigerator, complete with built-in Alexa, keeps track of your schedule and groceries. The Samsung smart range and coordinating microwave offer advanced features, while the Ecobee smart thermostat efficiently manages the home's temperature. The smart washer and dryer integrate seamlessly with the home's smart system, making daily tasks effortless. Outside, the fully fenced backyard is an inviting space for relaxation and play. The patio, pergola, and playset create an ideal outdoor retreat, brimming with additional landscaping potential. The neighborhood amenities include a community pool, two playgrounds, and a fitness center, all within walking distance of a public park and a peaceful lake with a scenic walking path. Conveniently located near shops and restaurants, this home is overflowing with incredible features. Schedule your appointment to see it today!
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Location
Property Details
Parking
- Description: Attached
- Details: Garage, Garage Door Opener
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Partial): 1
- # of Baths (Total): 0.0
Interior Features
- # of Stories: 2
- Basement Description: None
- Fireplace: Yes
Exterior Features
- Roof Material: Composition
- Pool Community: Yes
HOA
- Has HOA: Yes
- Association: The Villages at Berwick- ASI Mgmt
- HOA Fee: $648/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 11008I06025
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Traditional
- Year Built: 2017
Tax Information
- Annual Tax: $4,742
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Central Air, Electric
Location
- County: Chatham
Investment Summary
- Monthly Cash Flow
- -$1,143
- Cap Rate
- 3.3%
- Cash-on-Cash Return
- -12.9%
- Debt Coverage Ratio
- 0.53
- Internal Rate of Return (5 years)
- -8.5%
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:
| $462,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$369,600 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $92,400 |
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:
| $13,860 |
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:
| $106,260 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,967 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $156 |
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:
| $0.84 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $369,600 |
|---|---|
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:
| 6.840% |
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:
| $2,419 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $395 |
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:
| $175 |
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:
| $2,989 |
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:
| $2,500 | $30,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$150 | -$1,800 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,350 | $28,200 |
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. | 16% | -$395 | -$4,742 |
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% | -$175 | -$2,100 |
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% | -$200 | -$2,400 |
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% | -$125 | -$1,500 |
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% | -$125 | -$1,500 |
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. | 2% | -$54 | -$648 |
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% | -$1,074 | -$12,890 |
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:
| $1,276 | $15,312 |
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. | -$2,419 | -$29,028 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,143 | $13,716 |