$950,000
Investment Summary
- Monthly Cash Flow
- -$1,956
- Cap Rate
- 3.2%
- Cash-on-Cash Return
- -10.7%
- Debt Coverage Ratio
- 0.56
- Internal Rate of Return (5 years)
- -6.4%
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
Big Water of the Reservoir. Updated 4BR/3BA. Walk through the covered porch and the Iron & Glass doors into an open floor plan that connects the dining area, den, and kitchen. Windows throughout the showcase the views. Each panel has a shade controlled by a remote, filtering out light, and tons of updated LED can lights. The formal area and front entrance with antique chandeliers. The den has custom-built bookshelves for your decorations, along with a gas fireplace accented by a black oak mantle that's over 100 years old. The kitchen has stainless-steel appliances, a 6-burner gas cooktop with vent hood, a wall oven, and a convection microwave oven, providing two baking areas. The Sub-Zero French door refrigerator complements the luxury. Quartzite countertops and a marble backsplash elevate the space. Glass-front, lighted cabinets, under-cabinet lighting, and drawer storage ensure style and functionality. Off the kitchen is a laundry room with sink & cabinets, and walk-in pantry. On the other side of the house, the primary bedroom with water views features individual remote-controlled blinds and direct access to the backyard. The bathroom has separate vanities, a 6-foot tub, a walk-in shower with multiple heads, a water closet, and a walk-in closet with built-ins. There is a guest bedroom and a full bathroom for visitors. Walk up the tile-and-wood staircase lined with built-in bookcases, where you'll find a versatile space. This level features two bedrooms. One with a spacious closet, while the other boasts extensive built-ins and a walk-in closet. A shared bathroom, a sink area, and a separate private sink, plus a tiled tub. Both bedrooms with remote blinds and sliding doors that open onto a full-length balcony. This outdoor space offers room to relax while taking in views of the pool and water. A gunite pool with remote fountains, complete with a tanning ledge. An expansive fire rock pool deck, perfect for relaxing by the gas fire pit, allowing year-round enjoyment. The outdoor kitchen features space for a dining table and a Kalamazoo Hybrid Grill—cook with gas, charcoal, pellets, or wood, plus a two-burner gas cooktop. It's equipped with a sink with hot water, built-in cabinetry, a hidden trash can, and a storage closet. Adjacent to the kitchen is the spacious outdoor living area, ideal for hosting or unwinding. There's ample room for an outdoor couch and chairs, a built-in TV cabinet, and integrated Sonos speakers. All this overlooks water views and sits atop low-maintenance Trex decking. Down the steps to the water, you'll find the Reservoir-side pier area—perfectly designed for relaxation with a dedicated space for a wood-burning fire pit overlooking the water's edge. The double boat house is equipped with a commercial-grade hydraulic boat lift and a jet ski dock. An enclosed room offers electricity, a refrigerator (included), and a sink for cleaning fish or prepping meals. On the left side of the house, you'll find two versatile sheds, both equipped with electricity and an area that would make a dog run. Circular drive and 2-car garage with built-ins, pegboard wall, and space for a second fridge and freezer, and a storage room. The yard is landscaped with primarily perennial gardens with irrigation. Raised planters, some with louvered screens and flower beds, enhance both the beauty and privacy of the outdoor space. Designed for low maintenance, the gardens feature blooms that return each season. Additional features include new flooring and paint throughout, walk-in attic, smart thermostats, and Wi-Fi boosters. The home has wired cameras (not in use), a Dolphin pool cleaner, and French drains. Enjoy taking the boat out to one of the many restaurants, the Yacht Club, or just enjoy the sunset, nature from out on the water, or from the backyard. It is near shopping, dining, entertainment, medical facilities, and walking trails. The house was in Stages Magazine and was described as ''The Sanctuary,'' which it truly is.
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Location
Property Details
Parking
- Description: Attached, Garage, Garage Door Opener
- Details: Garage Door Opener, Storage, Circular Driveway, Concrete
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Partial): 1
- # of Baths (Total): 3.0
Interior Features
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Brick Veneer
- Foundation: Slab
- Roof Type: Hip
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: H12G00000500660
- Lot Size: 13068 sqft
Property Information
- Property Type: Single Family Residence
- Style: Traditional
- Year Built: 1999
Tax Information
- Annual Tax: $5,957
Utilities
- Water & Sewer: Public
- Heating: Central, Fireplace(s), Natural Gas
- Cooling: Central Air, Ceiling Fan(s), Gas
Location
- County: Rankin
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,956
- Cap Rate
- 3.2%
- Cash-on-Cash Return
- -10.7%
- Debt Coverage Ratio
- 0.56
- Internal Rate of Return (5 years)
- -6.4%
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:
| $950,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$760,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $190,000 |
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:
| $28,500 |
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:
| $218,500 |
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:
| $760,000 |
|---|---|
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:
| 5.875% |
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:
| $4,496 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $496 |
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:
| $308 |
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:
| $5,300 |
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:
| $4,400 | $52,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$264 | -$3,168 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,136 | $49,632 |
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% | -$496 | -$5,957 |
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% | -$308 | -$3,696 |
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% | -$352 | -$4,224 |
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% | -$220 | -$2,640 |
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% | -$220 | -$2,640 |
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 | 36% | -$1,596 | -$19,157 |
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:
| $2,540 | $30,480 |
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. | -$4,496 | -$53,952 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,956 | $23,472 |