$3,150,000
Investment Summary
- Monthly Cash Flow
- -$12,357
- Cap Rate
- 1.0%
- Cash-on-Cash Return
- -20.5%
- Debt Coverage Ratio
- 0.17
- Internal Rate of Return (5 years)
- -15.8%
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
2122 Grange Rd | A TIMELESS COUNTRY ESTATE DESIGNED FOR MODERN LIVING. What prospective buyers are saying... 'The photos are great! But you HAVE to see this property to truly enjoy it!' Tucked into the serene tapestry of West Michigan's Wine Country is the breathtaking estate of Serenity Fields—a place where tranquility and sophistication blend in perfect harmony w/ sustainable living. A picturesque woodland backdrop and 68 stunningly beautiful acres offer privacy, opportunity and a unique platform for ROI optionality—This is modern rural living w/o compromise: A multigenerational masterpiece tailored from premium finishes and impeccable craftsmanship; A modular design offering flexible, independent living; Multiple terraces and gathering spaces for effortless entertaining; And smart infrastructure for peace of mind. Wide-open spaces, an 18k sf spring-fed pond, mature woods and 36acres for agrarian, wellness or vineyard ambitions make this the perfect legacy and lifestyle canvas. Wide-open-spaces, a scenic trail, mature woodlands and diverse wildlife make this a nature-lovers paradise. Enjoy whitetail deer, turkey, various waterfowl, two resident Blue Heron and a one-eyed hawk named Bartholomew Roberts. A beautifully manicured landscape and grounds introduce the property and complement white Grecian columns and a bespoke Mahogany leaded glass door. A soaring 21' cathedral ceiling in the foyer features an opulent Schonbek Swarovski crystal chandelier, and an 18' ceiling complemented by floor to ceiling windows in the great room provide grandeur and an abundance of natural light which allows the sophisticated depth of richly toned custom cherry built-ins and cherry hardwood floors to express themselves unabashedly. KITCHEN- Serving as a social hub as well as an impressive culinary inspiration, the kitchen graciously shares space and purpose with the informal dining area and great room. Featuring custom cherry cabinets with pull-out shelves, high-end granite countertops, a custom backsplash with curated glass tile inlay, a decorative lighted alcove, bespoke metal artwork, an abundance of storage and counterspace, large work spaces, an open-floor plan, good traffic flow and plenty of room for multiple cooks to prepare food comfortably without feeling crowded--this is an unforgettable epicurean kitchen. Additional Design Features Include: A hidden pantry with third oven, a generous island, separate prep and clean-up areas, top-of-the-line stainless steel appliances including a commercial grade 70" double refrigerator/freezer and a classic, commercial style, professional, duel-fuel, double-oven, 8-burner gas range, two dishwashers, a 1200 CFM Fantech updraft exhaust fan with dampener (for quiet operation) to manage cooking odors... PRIMARY ENSUITE - Offering a serene and luxurious space to unwind and relax, the primary suite is a standout. Featuring a double tray ceiling with glowing ambient recessed lighting, a raised gas fireplace that you can appreciate while still snuggled in bed, stunning meadow views, a morning kitchen, a private terrace with relaxing Jacuzzi hot tub, and a spa-like bathroom with a deep jetted soaker tub and a spacious six-zone marble shower, this is an owners' suite quite thoughtfully designed to offer peace, tranquility and sophistication. And if that wasn't enough, you'll appreciate one of the most impressive, spacious and organized walk-in-closets I've seen: Custom cherry built-in armoires and dresser, a Sax Fifth Avenue style organization system for hanging clothes and a designer shoe locker that makes creative use of the curvaceous wall-this closet is the synthesis of style and functionality. HOME OFFICE - Custom cherry built-ins, a stunning coffered ceiling, custom drapery, beautiful views and a convenient location off the foyer, this home office is designed for productivity in a comfortable, relaxed environment. Equipment for the home's 6-zone sound system has also been integrated in a dedicated office cabinet for convenient control. Optimized with high-speed, fiber optic internet service and CAT-5 ethernet, concerns about rural service can be allayed. NOTE: Owner has basic service. According to Michigan Energy & Communications (MEC) more superior options are available. COMFORT, CONFIDENCE & MODERN CONVENIENCE - One of the most desirable features that you'll love during the colder months is the radiant heated floors throughout the main and lower levels. Providing efficient and consistent heating, this high-end feature is just one of many that provides comfort, energy efficiency and modern convenience. Peace-of-mind is provided by the home's security system with optional 24-hour monitoring and emergency response, and by a Generac 20kw Generator w/ automatic transfer switch to ensure that your comfortable inside no matter what's going on outside. Additionally, because the home is set 1/3 mile off the road, owners installed a dedicated electric transformer on the property to help reduce the possibility of voltage drops. THE UPPER LEVEL - The upper level represents two uniquely designed bedroom ensuites and a cozy, comfortable loft perfectly suited as reading nook, play area for the littles or a quiet study area for doing homework. LOWER LEVEL - The lower level is the perfect getaway for watching tv, gaming, and casual entertaining. With a third full kitchen, billiards area, family room, three additional bedrooms and two additional bathrooms, the lower level is designed for everyday living, guests and entertaining. Decorative heated concrete floors and acoustic ceiling tiles provide comfort and improved acoustic management. Two well-organized mechanical/storage rooms complete the lower level. OUTDOOR LIVING - Eight unique outdoor living spaces, including the intimate veranda, provide a variety of relaxing and entertaining options. Featuring a vaulted ceiling, skylights, ceiling fans, recessed lighting and white Grecian columns, the veranda is ideal for summer gatherings and soirees, any-time barbeques and lazy, quiet days sleeping in the hammock or reading a book. If you're interested in an outdoor kitchen, available plumbing and a gas line should make your project relatively straight forward and simple. GUEST HOUSE - Seamlessly connected by a porte cochère, the guest house offers casual sophistication and comfort that feels quite intimately like a summer-time cottage. Providing two additional bedrooms and bathrooms, a full kitchen with custom cherry cabinetry, granite countertops and stainless-steel appliances, a generous dining area, a comfortable living room with electric fireplace, a full-size laundry, an intimate covered porch to enjoy sunsets and pond views, and a good-sized private deck that will become a favourite destination, these are accommodations ideal for both family and guests. Apx. 5 minutes to US-31 and apx 17 minutes to I-94. Apx 94 miles (~1.5 hrs) from Chicago Apx 28 miles ( ~35 min) from South Bend and Notre Dame Apx. 40 miles (~50 min) from South Haven Apx. 16 miles (~30 min) from St. Joseph Many of the home's furnishings and equipment may be available to purchase separately. ***APPRIASED FOR $3.4M IN 2024*** "Community, Property & Home" Feature Sheet is available upon request for qualified buyers. FOR PRIVATE TOURS and to PURCHASE, CALL 269-281-3954. More Info: 2122GrangeRd.com Promo Video: 2122GrangeRoad.com Promo Reel: https://youtube.com/shorts/wjsUrCFSk6U - Representing 68.48 segmented into three distinct fields and effectively four to five uniquely distinct areas. - Agriculture: apx 36 acres - Perfect for sustainable living! - Woodlands: apx 20 acres including Oak, Beech and various other hardwoods and evergreens. - Wetlands (including pond): apx 4-5 acres provides additional habitat for wildlife - Remainder: apx 7 acres of flat, open and gently rolling meadows. - Pond: apx 18,862sf w/ NEW 1.5 hp floating surface aerator fountain providing 11 water patterns and color-changing lights. - Home sits on apx 1/3 mile (apx 1700') off the roadway and is not visible by neighbors or passersby. - Road Frontage 451.49' Potential ROI: What the owners affectionally call the "Park Parcel" for it's beautiful park-like resemblance immediately off Grange Road, is a 1 +/- divisible acre with apx. 150' road frontage on Grange Rd. Split this parcel for additional ROI or for family/friends to be close. Fly-In Property - A landing strip and/or helipad is potentially possible pursuant to Zoning Ordinance Article VI, Section 6.03 Article XVIII, Section 18.04 et al. Approval is subject to review and stipulations by the township, FAA, MDOT, MDARD et al. FAA Notification: You must notify the FAA when constructing or altering a private airstrip by filing FAA Form 7480-1. All aviation images are renderings only. No airstrip is presently available. Important: Runway shown is a concept rendering only. Buyer to verify feasibility and approvals (FAA Part 157 notice, local zoning, tree/obstacle clearance, soil/drainage and engineering). Property is not an active airfield. Crops: Owners have a quid-pro-quo relationship with a farmer who helps remove down trees in exchange for farming privileges. Precise details and the arrangement would need to be discussed between new owners and farmer. Leasing Agriculturally Significant Land: Generally $100 - $300 / acre Roughly 13 acres are in crop rotation with grain corn and soybeans (pursuant to farmer presently farming). - Corn Yield = apx 140-145 bushels / acre. All agricultural crop yields fluctuate based on growing conditions and prices fluctuate based on market conditions. 2023 Avg $/bushel = $4.30 and 2024 $/bushel = $3.10. - Soy Bean Yield = apx 20-25 bushels / acre. All agricultural crop yields fluctuate based on growing conditions and prices fluctuate based on market conditions. 2023 Avg $/bushel = $ 14.16 and 2024 Avg $/bushel = $11.48. - Roughly 21 acres are harvested hay (a combination of orchard grass and alfalfa); Annual Yield = apx 800-1000 bales according to farmer presently farming. All agricultural crop yields fluctuate based on growing and other environmental conditions and prices fluctuate based on market conditions. _____ Measurements are deemed highly reliable but not guaranteed. Buyer and Buyers agent to verify all measurements and information to Buyers' satisfaction. Listing agent, listing broker and sellers make no warranty, expressed or implied, regarding accuracy, completeness or usefulness of information presented. Users of information assume all liability for its fitness for particular use. 48hr notice required. LA hosts showings. No Sunday showings. POF or preapproval letter is required prior to showing approval. If represented, Buyer's Agent must accompany their clients on showings. *DO NOT ENTER DRIVE WITHOUT CONFIRMED APPOINTMENT*
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Location
Property Details
Parking
- Description: Aggregate, Attached, Concrete, GarageDoorOpener, Carport, GarageFacesSide
- Details: Garage Door Opener, Garage Faces Side, Carport, Attached, Aggregate, Concrete
- Garage Spaces: 4
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 8
Bathroom Information
- # of Baths (Full): 7
- # of Baths (Partial): 1
- # of Baths (Total): 8.0
Interior Features
- # of Rooms: 21
- # of Stories: 2
- Basement: Yes
- Basement Description: Crawl Space, Full, Finished, Sump Pump
- Fireplace: Yes
Exterior Features
- Foundation: Slab
- Roof Material: Composition
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 1500330013101
- Lot Size: 2982989 sqft
Property Information
- Property Type: Single Family Residence
- Style: Traditional
- Year Built: 2008
Tax Information
- Annual Tax: $15,767
Utilities
- Water & Sewer: Private, Well
- Heating: Forced Air, Hot Water, Radiant, Propane, Electric, Geothermal
- Cooling: Ceiling Fan(s), Central Air
Location
- County: Berrien
Listing Details
Investment Summary
- Monthly Cash Flow
- -$12,357
- Cap Rate
- 1.0%
- Cash-on-Cash Return
- -20.5%
- Debt Coverage Ratio
- 0.17
- Internal Rate of Return (5 years)
- -15.8%
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:
| $3,150,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,520,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $630,000 |
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:
| $94,500 |
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:
| $724,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 8,582 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $367 |
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:
| $0.65 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,520,000 |
|---|---|
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:
| $14,907 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,314 |
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:
| $16,613 |
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. | 23% | -$1,314 | -$15,767 |
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 | 48% | -$2,714 | -$32,567 |
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:
| $2,550 | $30,600 |
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. | -$14,907 | -$178,884 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$12,357 | -$148,284 |