$5,999,000
Investment Summary
- Monthly Cash Flow
- -$29,767
- Cap Rate
- 0.2%
- Cash-on-Cash Return
- -25.9%
- Debt Coverage Ratio
- 0.03
- Internal Rate of Return (5 years)
- -21.0%
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
Seller would consider subdividing. Welcome to Corbett Manor, a breathtaking 360-acre estate where luxury meets nature in perfect balance. Just five minutes from downtown Clarkesville, this stunning property offers a sophisticated lifestyle amid rolling fields, lush hardwood forests, and meticulously maintained grounds. The grand exterior showcases exceptional craftsmanship, featuring a timeless blend of stone, brick, and hard-coat stucco, crowned with a slate roof, and copper gutters. Enter through the stately mahogany doors to a foyer graced by Italian limestone floors, grand 13CO ceiling heights setting an elegant tone. The limestone tile and rich heart pine floors carried throughout the main floor provide warmth & refinement, while floor-to-ceiling custom windows bathe each room in natural light. To further enhance the ambiance of this elegant estate, a Lutron lighting system is used for ease and convenience. At the heart of the home lies a chefCOs kitchen. Outfitted with commercial-grade appliances, including two Sub-Zero freezers and refrigerators, custom heart pine cabinetry, a DACOR dual-fuel range with double ovens, stainless-steel hood vent, & a Gaggenau pizza oven. The granite & butcher block countertops, oversized island with prep sink, two dishwashers, & large farm style sink, gives the kitchen both style & practicality. Enjoy the cozy sitting area fully equipped with a fireplace & wet bar creating an inviting space for gatherings & after dinner conversation. The stunning kitchen & dining area (for seating up to 10) overlook the secret garden, a manicured courtyard with a fountain, potting room, and built-in grill. Setting the perfect scene for family get-togethers, parties, or events. The primary suite serves as a luxurious private retreat, with a comfy sitting area around the fireplace adorned with an imported French marble mantle, a spa-inspired bath with heated floors, Jacuzzi tub, steam shower, custom dual-sided walk-in closet & your own private, screened in area of the balcony. Just off the master suite youCOll find the home's library with wormy chestnut paneling and a cozy fireplace. On the second level youCOll find four spacious bedrooms each featuring their own en-suite bath & walk-in closets. The middle bedroom includes a Juliet balcony that overlooks the magnificent Great Room, complete with custom wood beams & soaring 26-foot vaulted ceilings. This level also houses a craft room, and a unique fourth bedroom, with extra bonus space and its own access above the three-car garage, creating an ideal location for a live-in nanny, or guests preferring added privacy. The terrace level is an entertainerCOs dream, complete with a game room including billiards, dry bar, fireplace, home theater, fitness room, and full bath. This level also features a massively oversized laundry room with dual washer and dryer hookups and plenty of room to install a second commercial sized kitchen, along with a mudroom, and direct access to a dog runCoperfect for your canine companions. The outdoor spaces provide a seamless blend of relaxation and entertainment, from the screened porch with bluestone tile and expansive back balcony, to the built-in cooking area near the courtyard which offers the perfect setting for alfresco dining. Imported Antique French iron railings lend old-world charm to the porches and stairway. Corbett Manor offers every modern convenience, including a large walk-in pantry, dual laundry rooms, antique light fixtures, custom cabinetry, upgraded security system, a separate in-law suite, and ample storage. The beautiful gated entry provides additional privacy and functionality. Beyond the main residence, the estate includes two barns, a massive workshop with a grease pit, and a preCoCivil War era home thatCOs ready to be restored as a second home or rental space. Corbett Manor is not just a home; itCOs a sanctuary
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Location
Property Details
Parking
- Description: Garage, Garage Door Opener, Kitchen Level, Parking Pad, Side/Rear Entrance
- Details: Garage, Garage Door Opener, Kitchen Level, Parking Pad
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 6
- # of Baths (Partial): 2
- # of Baths (Total): 7.0
Interior Features
- # of Stories: 3
- Attic: Yes
- Basement: Yes
- Basement Description: Daylight, Exterior Entry, Full, Interior Entry
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood
- Roof Type: Hip
- Roof Material: Copper, Slate
Land Information
- Land Use: Residential
- Land Use Subtype: Rural/Agricultural
Lot Information
- Parcel ID: 065016
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: European, French Provincial
- Year Built: 2000
Tax Information
- Annual Tax: $14,940
Utilities
- Water & Sewer: Private, Well
- Heating: Natural Gas, Zoned
- Cooling: Central Air, Zoned
Location
- County: Habersham
Listing Details
Investment Summary
- Monthly Cash Flow
- -$29,767
- Cap Rate
- 0.2%
- Cash-on-Cash Return
- -25.9%
- Debt Coverage Ratio
- 0.03
- Internal Rate of Return (5 years)
- -21.0%
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:
| $5,999,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$4,799,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $1,199,800 |
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:
| $179,970 |
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:
| $1,379,770 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 0 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| n/a |
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:
| n/a |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $4,799,200 |
|---|---|
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:
| $30,730 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,245 |
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:
| $224 |
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:
| $32,199 |
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:
| $3,200 | $38,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$192 | -$2,304 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,008 | $36,096 |
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. | 39% | -$1,245 | -$14,940 |
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% | -$224 | -$2,688 |
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% | -$256 | -$3,072 |
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% | -$160 | -$1,920 |
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% | -$160 | -$1,920 |
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 | 64% | -$2,045 | -$24,540 |
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:
| $963 | $11,556 |
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. | -$30,730 | -$368,760 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$29,767 | -$357,204 |