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$489,900

For Sale - Active
1924 Boathouse Rd, Edmond, OK 73034
3 Beds
3 Baths
0 Square Feet
0.17 Acres Lot
Built in 2019
For Sale - Active
Units n/a
Checked: 1 day ago
Updated: Jul 22, 2025 at 09:06AM

Investment Summary


Monthly Cash Flow
-$857
Cap Rate
3.6%
Cash-on-Cash Return
-9.1%
Debt Coverage Ratio
0.63
Internal Rate of Return (5 years)
-4.8%

Property Description


0.17 Acres Lot
Built in 2019
For Sale - Active
Units n/a

McCaleb Homes Orwell Floor plan! This beautiful home is The LAST existing ORWELL & has panoramic sliding doors that open to a screened in outdoor cedar living with a wood burning fireplace. (The hot tub is being removed). From there you have beautiful views of the rolling horizon in the North and sweet birdsong singing over you as you rest and unwind. The home has a large open living space with built-in entertainment/sideboards on each side of the stacked stone fireplace. The Kitchen is an entertainers dream with TONS of counter space, upgraded appliances and a huge walk-in pantry! Floors: 5" white oak, upstairs and down. Upstairs: 2nd living area with a private bedroom and full bath with a tub/shower combo, plus walk-out access to a HUGE attic! Wood beams and shiplap on the upstairs & downstairs living rooms. The custom EXTENDED outdoor living space also has a line for a gas grill & TV mount/hook up for entertaining. You will LOVE evenings outdoors while watching whatever playoffs you're into, or maybe just your favorite show. Entertaining is seamless with the slider doors fully opened to the outdoor living space. You will probably spend so much time out there enjoying coffee in the mornings, a nice beverage in the evenings and the local birdsong. The home has lots of closet space and storage upstairs and downstairs. The HOA includes lawn care, and access to the Residents Resort style club & pool, recreation room, gym, and studio. The neighborhood also has a playground, multiple beautiful walking trails, a community garden, a catch and release fishing pond with a floating deck and if you are lucky you will see the baby ducklings and goslings each year. The community has annual holiday events, pool parties, sometimes musical guests, and previously has had "Food Truck Thursdays or Fridays". You can be as private or social as you want in this community! Walk-in above ground Storm Shelter! Wood Floors can be re-stained/sealed for the buyer day of closing.

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Location


Property Details


Parking

  • Description: Attached, Concrete, Driveway, Garage, GarageDoorOpener
  • Details: Attached, Concrete, Driveway, Garage, Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 10
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Brick Veneer
  • Foundation: Slab
  • Roof Type: Gable
  • Roof Material: Composition

HOA

  • Has HOA: Yes
  • HOA Fee: $2,395/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 216001660
  • Lot Size: 7453 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Farmhouse, Modern
  • Year Built: 2019

Tax Information

  • Annual Tax: $5,740

Utilities

  • Heating: Natural Gas, Central
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Oklahoma

Listing Details


Listed by:
Christopher Bennett
Metro Brokers of OK Elite
(405) 819-1434

Source:
MLSOK
MLS#: 1165872

Investment Summary


Monthly Cash Flow
-$857
Cap Rate
3.6%
Cash-on-Cash Return
-9.1%
Debt Coverage Ratio
0.63
Internal Rate of Return (5 years)
-4.8%

Purchase Details

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Purchase price:
$489,900
Amount financed:
-$391,920
Down payment:
$97,980
Closing costs:
$14,697
Rehab costs:
$0
Initial cash invested:
$112,677
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$391,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$2,318
Property tax:
$478
Insurance:
$217
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,013

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,100 $37,200
Vacancy loss: (6%)
6% -$186 -$2,232
Operating income:
$2,914 $34,968

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$478-$5,740
Insurance: (7%)
7%-$217-$2,604
Property management: (8%)
8%-$248-$2,976
Repairs & maintenance: (5%)
5%-$155-$1,860
Capital expenditures: (5%)
5%-$155-$1,860
HOA fees: (6%)
6%-$200-$2,400
Total operating expenses: (47%)
47%-$1,453-$17,440

Cash Flow


Monthly Yearly
Net operating income:
$1,461 $17,532
Mortgage payments:
-$2,318 -$27,816
Cash flow:
$857 $10,284