$484,995
Investment Summary
- Monthly Cash Flow
- -$688
- Cap Rate
- 4.4%
- Cash-on-Cash Return
- -7.4%
- Debt Coverage Ratio
- 0.72
- Internal Rate of Return (5 years)
- -3.2%
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 2490 Turtle Terrace, a rare find in the heart of Grayson, GA! This fully luxurious and fully renovated 5-bedroom, 4-bathroom home combines elegance and practicality in a family-oriented community with minimal HOA fees. Boasting the largest floor plan in the neighborhood, this home features a custom-designed XL kitchen with an expansive island, perfect for hosting gatherings and holiday feasts. From the grand banquet space with cathedral ceilings to the light-filled living and dining rooms with charming bay windows, every detail invites comfort and style. Brand new windows throughout flood the home with natural light, while top-of-the-line stainless steel appliances, including a double oven, complement the gourmet kitchen. Modern upgrades include all-new electric and plumbing, two completely new HVAC systems, and two new water heaters for optimal comfort. The spacious layout offers a large sunroom opening to the backyard, making it ideal for both intimate and large gatherings. Situated on a sprawling lot with fresh sod, the lush front and back yards provide ample room for outdoor fun. An adaptable floor plan allows for easy division into two separate living spaces, each with its own master suite, HVAC and water heater. Upper level is ready for your final finishes. Partially heated and lots of storage. In the highly regarded Grayson school district and near entertainment, dining, and parks, this home balances luxury with family-friendly appeal. This is absolutely an amazing home. Don't miss this exceptional property-schedule your tour today! SPANISH TRANSLATION: El vendedor considerara la opcion de alquiler con opcion a compra. Bienvenido a 2490 Turtle Terrace, una propiedad excepcional en el corazon de Grayson, GA! Esta lujosa casa de 5 dormitorios y 4 banos, totalmente renovada, combina elegancia y practicidad en una comunidad familiar con cuotas de mantenimiento minimas. Con el plano de planta mas amplio del vecindario, esta casa cuenta con una cocina XL de diseno personalizado con una amplia isla, perfecta para celebrar reuniones y festines festivos. Desde el gran espacio para banquetes con techos estilo catedral hasta la luminosa sala de estar y el comedor con encantadores ventanales, cada detalle invita a la comodidad y el estilo. Las nuevas ventanas inundan la casa de luz natural, mientras que los electrodomesticos de acero inoxidable de alta gama, incluyendo un horno doble, complementan la cocina gourmet. Las modernas mejoras incluyen electricidad y plomeria completamente nuevas, dos sistemas de climatizacion (HVAC) completamente nuevos y dos calentadores de agua nuevos para un confort optimo. La espaciosa distribucion ofrece una gran terraza acristalada que se abre al patio trasero, lo que la hace ideal tanto para reuniones intimas como para grandes reuniones. Ubicada en un amplio terreno con cesped fresco, los exuberantes patios delantero y trasero ofrecen amplio espacio para la diversion al aire libre. Su diseno adaptable permite una facil division en dos espacios separados, cada uno con su suite principal, aire acondicionado y calentador de agua. La planta superior esta lista para los acabados finales. Cuenta con calefaccion parcial y amplio espacio de almacenamiento. En el prestigioso distrito escolar de Grayson, cerca de lugares de entretenimiento, restaurantes y parques, esta casa combina lujo con un ambiente familiar. Es una casa absolutamente increible. No se pierda esta excepcional propiedad! Programe su visita hoy mismo!
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Location
Property Details
Parking
- Description: Detached, Garage Door Opener, Driveway, Garage
- Details: Detached, Garage Door Opener, Garage
- Garage Spaces: 6
- Spaces Total: 6
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Total): 0.0
Interior Features
- # of Rooms: 6
- # of Stories: 2
- Basement Description: None
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood Siding
- Roof Material: Composition
HOA
- Has HOA: Yes
- HOA Fee: $100/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: R5090120
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Ranch
- Year Built: 1954
Tax Information
- Annual Tax: $4,846
Utilities
- Water & Sewer: Private, Well
- Heating: Central
- Cooling: Central Air
Location
- County: Gwinnett
Investment Summary
- Monthly Cash Flow
- -$688
- Cap Rate
- 4.4%
- Cash-on-Cash Return
- -7.4%
- Debt Coverage Ratio
- 0.72
- Internal Rate of Return (5 years)
- -3.2%
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:
| $484,995 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$387,996 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $96,999 |
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:
| $14,550 |
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:
| $111,549 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,633 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $134 |
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:
| $0.88 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $387,996 |
|---|---|
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:
| $2,484 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $404 |
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:
| $3,112 |
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. | 13% | -$404 | -$4,846 |
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. | 0% | -$8 | -$96 |
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 | 38% | -$1,212 | -$14,542 |
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:
| $1,796 | $21,552 |
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. | -$2,484 | -$29,808 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $688 | $8,256 |