$1,445,000
Investment Summary
- Monthly Cash Flow
- -$5,075
- Cap Rate
- 1.9%
- Cash-on-Cash Return
- -18.3%
- Debt Coverage Ratio
- 0.31
- Internal Rate of Return (5 years)
- -13.7%
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
This reimagined classic Morningside Tudor residence, dating back to 1929, has been artistically expanded and renovated, blending modern updates while maintaining the integrity of the home's original architecture & design. The remarkably expansive 6 bedroom, 5 bath floor plan has no limit to functional options with multiple living spaces for large and also intimate gatherings. Upon entry, guests are ushered into an beautifully crafted oak paneled living room boasting a focal point fireplace with built-in cabinetry. From there, guests are welcomed into the formal dining room featuring high wainscot paneling, crown molding and windows adorned with custom drapes then further into a keeping room with handsomely appointed wood paneled walls. The tranquil space is finished with coffered tin ceiling and custom cabinetry with wine storage. The kitchen is recently renovated with beautiful cabinetry featuring a farm sink with soap-stone countertops, Sub-zero refrigerator & built in convection ovens. Every thought has been given to make this a welcome space. The Breakfast nook offers banquette seating for kitchen conversation and expands the formal dining room and entertainer's family room and bar for holiday gatherings and guest parties. Additional living spaces include a peaceful sunroom and a must see four season second kitchen and living space. Built in indoor EVO cast top gas grill with state of the art vent hood & Marvel wine fridge complete the kitchen while sunlight streams into the living space in abundance through the surrounding windows. This inviting entertainers dream leads both to the family room and to the outdoor enjoyment of the hardscape patio and fire pit. The main floor provides a custom guest room with ensuite (or first floor primary). Additionally, the first floor boasts a beautiful guest room, craft/game/bedroom and bathroom. Ascend the stairs to the primary suite encased with windows and added space for sitting area with spa-inspired bathroom offering a dual vanity and luxurious soaking tub and separate shower. Across the hall is a darling secondary bedroom with an ensuite. Journey down the hall to find two more secondary bedrooms adjoined by a jack and jill bathroom and then on to a large multi-purpose room equipped with a kitchenette. A convenient second staircase gives access to the first floor. Don't miss the closet systems builtin throughout. And there's more! A lower level retreat for movie nights! Also, there is a basement workshop, large storage room or exercise space and second laundry room. Not enough can be said for the fine intricate touches throughout the home such as glass door knobs, built-ins, lofted ceilings, stained glass, exposed brick, wainscot & crown molding and beautiful hardwood flooring-and more! A three car garage with tool shed and a potting platform/pet washing area are a few of the thoughtful exterior details. Landscaping has been professionally designed to create a quiet oasis in the city. Conveniently located near prestigious schools (Morningside Elementary), shops, restaurants, parks, churches, and a local farmers market, ideal for a connected lifestyle. This extraordinary home must be seen to be fully appreciated-it's truly a Morningside treasure!
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Location
Property Details
Parking
- Details: Garage, Garage Door Opener
- Garage Spaces: 3
- Spaces Total: 3
Bedroom Information
- # of Bedrooms: 6
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Total): 5.0
Interior Features
- # of Stories: 2
- Basement: Yes
- Basement Description: Exterior Entry, Finished, Interior Entry
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Brick
- Foundation: Block
- Roof Material: Composition
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 1805603038
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Brick 4 Side, Tudor
- Year Built: 1929
Tax Information
- Annual Tax: $18,442
Utilities
- Water & Sewer: Public
- Heating: Central, Forced Air
- Cooling: Ceiling Fan(s), Central Air
Location
- County: De Kalb
Listing Details
Investment Summary
- Monthly Cash Flow
- -$5,075
- Cap Rate
- 1.9%
- Cash-on-Cash Return
- -18.3%
- Debt Coverage Ratio
- 0.31
- Internal Rate of Return (5 years)
- -13.7%
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:
| $1,445,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,156,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $289,000 |
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:
| $43,350 |
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:
| $332,350 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 6,140 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $235 |
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:
| $0.91 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,156,000 |
|---|---|
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:
| $7,402 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,537 |
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:
| $392 |
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:
| $9,331 |
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:
| $5,600 | $67,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$336 | -$4,032 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $5,264 | $63,168 |
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. | 27% | -$1,537 | -$18,442 |
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% | -$392 | -$4,704 |
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% | -$448 | -$5,376 |
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% | -$280 | -$3,360 |
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% | -$280 | -$3,360 |
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 | 52% | -$2,937 | -$35,242 |
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:
| $2,327 | $27,924 |
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. | -$7,402 | -$88,824 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$5,075 | -$60,900 |