$460,000
Investment Summary
- Monthly Cash Flow
- -$677
- Cap Rate
- 4.5%
- Cash-on-Cash Return
- -7.7%
- Debt Coverage Ratio
- 0.72
- Internal Rate of Return (5 years)
- -3.4%
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
Welcome to Cherry Hill! This one-of-a-kind neighborhood has the best of both worlds-homes in both incorporated City of New Lenox and unincorporated New Lenox Township. While this beautifully kept home has a Joliet postal address, it's in unincorporated New Lenox Township and feeds into the highly rated New Lenox school district, so you get great schools and lower taxes. It's the perfect blend of value and location! ~With 5 spacious bedrooms, 4 full bathrooms, and a full finished basement providing over 4600 finished SF, this home is the perfect blend of classic character and modern comfort. Set on a lushly landscaped lot that delivers four seasons of beauty, you'll feel a world away while still being conveniently close to shopping, expressways, and everyday essentials. ~Step through the front door and into an inviting layout. The large living and family rooms greet you as you walk through the front door and are ideal for both relaxing in front of the fireplace and entertaining family and friends. A cozy office/reading nook flows seamlessly into the open eating area that overlooks the peaceful deck through the wall of windows. Then over to the bright kitchen-complete with Caesarstone Quartz countertops, open cedar-toned shelving, cathedral ceilings, skylights, a double oven, coffee bar, and an abundance of cabinet storage. The kitchen's eye-catching window provides a picturesque view of the serene backyard. Just off the kitchen, you'll find a warm and inviting dining room-spacious enough to fit even your largest table. Glass French doors connect the space back to the living room, creating a perfect flow for entertaining or everyday living. ~A true highlight of the main level is the private master suite, featuring vaulted ceilings, walk-in closet, in-suite washer/dryer, and even a kitchenette. The spa-like master bath includes an oversized walk-in shower with dual shower heads, heated floors, and a skylight-your personal retreat after a long day. Also on the first floor is a full bath with a vibrant, unforgettable flair-the "Viva Las Vegas" bathroom, worthy of its name. ~Upstairs, you'll find four generously sized bedrooms, a glamorous full bath with heated floors, and two hall closets for plenty of additional storage. ~Ready for a time warp? Head downstairs to the basement-affectionately known as "The Shag"-where a retro-style bar and pool table set the scene for epic gatherings. Behind the bar, you'll find a game room, kitchenette, full bath with heated floors, oversized crawlspace, numerous closets, large laundry and craft area, and a cozy media room-perfect for movie nights. ~Outside, enjoy peaceful evenings on the deck under the pergola, host a bonfire, or let little ones and pets roam free in the fully fenced backyard. Additional highlights include: *Whole-house generator and speaker system *2-car attached garage with heat and AC that features Polyaspartic floor coating, workbench with cabinets and sink *3 car wide concrete driveway and additional off street parking pad *Two HVAC systems & three water heaters (one dedicated to the kitchen for instant hot water) *Newer main furnace and water heater (2024) *New carpet in master (2025) *Updated kitchen skylights & partial roof (2024) *3 storage sheds - one with power. ~PLUS: Pool table with all accessories, Bar stools and the smaller TV in bar stay! Come see for yourself why this home isn't just a place to live-it's where memories are made. Live here and make it a wonderful life!
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Location
Property Details
Parking
- Description: Attached, Garage, Garage On-Site
- Details: Concrete, Garage Door Opener, Heated Garage, On Site, Attached, Driveway, Garage
- Garage Spaces: 2
- Spaces Total: 8
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 13
- # of Stories: 2
- Basement: Yes
- Basement Description: Sump Pump, Finished, Crawl Space, Full
- Fireplace: Yes
Exterior Features
- Foundation: Concrete Perimeter
- Roof Material: Asphalt
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 150818200003
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Colonial
Tax Information
- Annual Tax: $9,025
Utilities
- Water & Sewer: Shared Well
- Heating: Natural Gas, Radiant Floor
- Cooling: Ceiling Fan(s), Central Air
Location
- County: Will
Listing Details
Investment Summary
- Monthly Cash Flow
- -$677
- Cap Rate
- 4.5%
- Cash-on-Cash Return
- -7.7%
- Debt Coverage Ratio
- 0.72
- Internal Rate of Return (5 years)
- -3.4%
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:
| $460,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$368,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $92,000 |
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:
| $13,800 |
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:
| $105,800 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,206 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $143 |
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:
| $1.12 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $368,000 |
|---|---|
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:
| 6.840% |
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:
| $2,409 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $752 |
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:
| $3,413 |
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. | 21% | -$752 | -$9,025 |
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 | 46% | -$1,652 | -$19,825 |
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:
| $1,732 | $20,784 |
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. | -$2,409 | -$28,908 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $677 | $8,124 |