$320,000
Investment Summary
- Monthly Cash Flow
- -$450
- Cap Rate
- 4.5%
- Cash-on-Cash Return
- -7.3%
- Debt Coverage Ratio
- 0.73
- Internal Rate of Return (5 years)
- -3.1%
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
Located in Heron Bay Golf Country Club, south Atlanta's premiere resort-style community, this charming craftsman style home is situated on the course's 9th fairway! This very unique and highly sought after plan features three bedrooms and three baths, with the owner's ensuite and a second bedroom and bath being located in the main area of the home from the front porch, you'll enter into the private courtyard via a wrought iron gate, providing a unique and intriguing feature to the elevation. To your left is the ever-popular CASITA featuring a bedroom w/private bath overlooking the courtyard. This incredible feature offers lots of options, as the casita is private from the rest of the house and can be used as a teen/in-law suite, an office, a man cave, or for guests who come for an extended stay! So many options for this multi-functional area! The oversized Chattahoochee pebble stone patio in the private courtyard offers an inviting setting for private gatherings, or simply for enjoying the serenity and privacy of the outdoors in your own space! There are also stone walkways in the courtyard so that you can easily access the front or back yards. Just a few steps ahead, you will enter into the foyer of the main home, featuring a spacious family room/dining room with electric fireplace that opens up into the tiled sunroom with lots of windows and terrific views of the beautiful golf course! Off the sunroom, there is also a patio. The kitchen has granite countertops and stainless appliances (gas stove), a raised gathering bar and a breakfast nook. Pantry. In addition to the tiled sunroom, there is tile in all wet areas, including bathrooms, kitchen, and laundry room. This home is designed to provide privacy for all when retiring. The oversized owner's suite spans the left side of the house, with the sitting area/office nook overlooking the soothing views of the golf course. There's also a French door from the bedroom to the private courtyard. Then, on the other side of the kitchen, there's the secondary bedroom and bath. In addition to all that this home has to offer, the community amenities are unparalleled. The resort-style community offers an aquatic center with splash pool and dual slides, mushroom sprinklers, a zero entry pool for the kiddies, and a junior Olympic size swimming pool just past the front entrance to the community the convenience and enjoyment of our residents, there's also a smaller, intimate pool more centrally located in the community. Organized teams with plenty of tennis and pickleball courts. There's also a Dog Park and a Sports Park, in addition to nature trails throughout the community. Our premiere amenity is quite probably the Lakeview Park and pavilion, situated on the 1100 acre Cole Reservoir - perfect for kayaks, canoes, and non-gas powered watercraft. An added feature is that the Cottages & Villas communities include mowing, edging, trimming, exterior sprinkler, trash, and termite bond, not to forget the private clubhouse where there are events for the C&V residents that are in addition to those sponsored by the Master Association. There's so much to choose from - and it's all included in your assessments.
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Location
Property Details
Parking
- Description: Attached Garage
- Details: Attached, Garage, Garage Door Opener, Kitchen Level
- Garage Spaces: 2
- Spaces Total: 2
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 6
- # of Stories: 1
- Basement Description: None
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Fiber cement siding (Hardi-board/Hardi-plank
- Foundation: Slab
- Roof Type: Hip
- Roof Material: Other
HOA
- Has HOA: Yes
- HOA Fee: $1,860/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 201A01033
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Bungalow/Cottage, Ranch
- Year Built: 2004
Tax Information
- Annual Tax: $2,920
Utilities
- Water & Sewer: Public
- Heating: Natural Gas
- Cooling: Ceiling Fan(s), Central Air, Zoned
Location
- County: Spalding
Listing Details
Investment Summary
- Monthly Cash Flow
- -$450
- Cap Rate
- 4.5%
- Cash-on-Cash Return
- -7.3%
- Debt Coverage Ratio
- 0.73
- Internal Rate of Return (5 years)
- -3.1%
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:
| $320,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$256,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $64,000 |
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:
| $9,600 |
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:
| $73,600 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,109 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $152 |
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:
| $1.09 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $256,000 |
|---|---|
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:
| $1,639 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $243 |
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:
| $161 |
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:
| $2,043 |
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:
| $2,300 | $27,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$138 | -$1,656 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,162 | $25,944 |
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. | 11% | -$243 | -$2,920 |
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% | -$161 | -$1,932 |
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% | -$184 | -$2,208 |
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% | -$115 | -$1,380 |
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% | -$115 | -$1,380 |
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. | 7% | -$155 | -$1,860 |
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 | 42% | -$973 | -$11,680 |
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:
| $1,189 | $14,268 |
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. | -$1,639 | -$19,668 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$450 | -$5,400 |