$1,100,000
Investment Summary
- Monthly Cash Flow
- -$3,665
- Cap Rate
- 2.1%
- Cash-on-Cash Return
- -17.4%
- Debt Coverage Ratio
- 0.35
- Internal Rate of Return (5 years)
- -12.8%
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
Welcome to 214 Heritage Town Parkway, an elegant residence in the desirable Heritage Town Park community of Canton. This thoughtfully updated home combines timeless design with modern upgrades, offering comfort, style, and function in every space. Words & photos cannot adequately explain this exemplary home, so schedule a tour today! Freshly painted this spring, the exterior is enhanced with professional landscape design by Scottsdale Farms, custom hardscape features, and professional outdoor lighting in both front and back. Mature hardwood trees provide a private, peaceful environment, and the firepit offers warmth on cool nights as you create memories in your new home. From the front door, you enter the main level by stepping into the foyer. Above, the trey ceiling is highlighted by antique tin roof tile accents; these roof tiles were reclaimed from a historic building in Woodstock. Underfoot, beautifully refinished red oak hardwood floors extend throughout the main living areas. The study features custom wainscoting and a coffered ceiling, while the dining room impresses with 12-foot ceilings, shiplap detailing, and a designer chandelier. The family room, also with 12-foot ceilings, showcases custom wood ceiling beams and a stunning floor-to-ceiling stone fireplace with cedar mantel. The kitchen is a masterpiece, welcoming connoisseurs to cook, bake, and more importantly, create memories. The space offers thoughtful touches like custom white cabinetry, soft-close hinges, expanded island with specialty storage, pasta pot filler, micro/convection oven, wall oven, gas range, walk-in pantry with sensor lighting, and a custom tile-and-brick backsplash. The adjoining coffee and wine bar includes a bar sink, beverage drawers, a wine fridge, and accent lighting- perfect for entertaining. The main-level owner's suite offers new carpet, while the renovated bath features updated tile shower, faucets, flooring, dual vanities, mirrors, and lighting. A guest suite with custom shiplap ceiling and a guest bath with marble tile and designer finishes are also on the main level. Additional main-level highlights include a three-car garage, stylish powder room, and custom mudroom with built-ins. The laundry room makes light work of chores with custom tile flooring, cabinetry, butcher block counters, custom light fixture, and galvanized steel utility sink. Built-ins include a hanging rack for air drying, and a stowaway ironing board. Upstairs, two secondary bedrooms with new carpet feature custom details such as built-ins, beadboard, and charming angled ceilings. Both bathrooms have been fully updated with custom vanities, tile work, lighting, and linen storage. The finished basement provides flexible living and entertaining space with stained concrete floors, crown molding, custom beam ceiling accents, and designer lighting. There is also a chalkboard wall feature, an additional bedroom suite with private bath, and stylish updates including subway tile, custom vanity, and shiplap details. Currently used as a rec room, could also become a media room, office, or private suite. Additional unfinished space in the basement allows easy access to the mechanicals, such as HVAC, central vacuum system, and water heater. These spaces are also currently used for storage, but could easily be finished as a golf simulator, gym, or more. Located just east of Canton, you're minutes from shopping, dining, and top-rated Cherokee County schools... but when you're home, you will feel miles away from the busy bustle and stress. From its carefully chosen materials to its thoughtful design updates to its move-in ready condition, this home blends craftsmanship with convenience. 214 Heritage Town Parkway offers a lifestyle of comfort and elegance. Do not miss out on your chance to call this your home. Schedule a personal tour today.
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Location
Property Details
Parking
- Description: Garage, Kitchen Level, Level Driveway
- Details: Garage, Garage Door Opener, Off Street
- Garage Spaces: 5
- Spaces Total: 5
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Total): 5.5
Interior Features
- # of Stories: 3
- Basement: Yes
- Basement Description: Concrete, Daylight, Exterior Entry, Finished, Interior Entry, Partial, Unfinished
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Fiber cement siding (Hardi-board/Hardi-plank
- Foundation: Pillar/Post/Pier
- Roof Type: Hip
- Roof Material: Composition
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 03N11B008
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Country/Rustic
- Year Built: 2008
Tax Information
- Annual Tax: $6,162
Utilities
- Water & Sewer: Public
- Heating: Electric, Natural Gas
- Cooling: Ceiling Fan(s), Central Air
Location
- County: Cherokee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$3,665
- Cap Rate
- 2.1%
- Cash-on-Cash Return
- -17.4%
- Debt Coverage Ratio
- 0.35
- Internal Rate of Return (5 years)
- -12.8%
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:
| $1,100,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$880,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $220,000 |
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:
| $33,000 |
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:
| $253,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,843 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $227 |
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:
| $0.74 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $880,000 |
|---|---|
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:
| $5,635 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $514 |
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:
| $252 |
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:
| $6,401 |
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:
| $3,600 | $43,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$216 | -$2,592 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,384 | $40,608 |
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. | 14% | -$514 | -$6,163 |
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% | -$252 | -$3,024 |
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% | -$288 | -$3,456 |
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% | -$180 | -$2,160 |
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% | -$180 | -$2,160 |
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 | 39% | -$1,414 | -$16,963 |
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:
| $1,970 | $23,640 |
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. | -$5,635 | -$67,620 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $3,665 | $43,980 |