$2,750,000
Investment Summary
- Monthly Cash Flow
- -$12,875
- Cap Rate
- 0.1%
- Cash-on-Cash Return
- -24.4%
- Debt Coverage Ratio
- 0.01
- Internal Rate of Return (5 years)
- -19.6%
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
Spectacular custom-built home on 100 feet of private Green Lake shoreline! Offering nearly 6,000 square feet of thoughtfully designed living space, this stunning 5-bedroom, 4-bathroom home is packed with exceptional features, making it perfect for a family retreat or year-round luxury living. Step inside and be greeted by soaring 19-foot windows showcasing breathtaking lake views. The open-concept main level features a two-story great room with a striking dry-stacked natural stone gas fireplace, formal dining space with cove lighting, and a light-filled sunroom connecting indoor and outdoor living. The chef’s kitchen boasts an oversized island, updated granite and Cambria countertops, double ovens, two refrigerators, and custom cherry cabinetry with hidden electric outlets and accent lighting. A spacious walk-in pantry and breakfast nook complete this entertainer’s dream. The main-level primary suite is a private oasis with serene lake views and is prepped for a future private balcony or deck. The luxurious ensuite features heated marble floors, a glass-block double shower, Jacuzzi tub, and a custom makeup vanity. The large walk-in closet is adorned with a chandelier and offers ample storage. Upstairs, you’ll find three generously sized bedrooms, each with custom closet systems, and a full bathroom with in-floor heating and multiple vanities—perfect for busy mornings. A spacious bonus room over the garage provides endless possibilities, whether it’s a guest retreat, home office, fitness space, or playroom. The newly finished lower level is an entertainer’s paradise, featuring a full-service walk-up wet bar with a dual tap kegerator, wine storage, beverage fridges, and a commercial ice maker. A pool table, gaming area, and comfortable television lounge with surround sound and double fireplaces make it the ultimate gathering space. The spa-inspired bath with a walk-in shower and LED-lit mirror adds a touch of luxury. For the outdoor enthusiast, the lower level provides access to a dedicated workshop, complete with a game-cleaning station, built-in gun safe, and custom barn door storage. Step outside to your lakeside retreat! A beautifully designed outdoor kitchen features built-in gas and smoker grills, a granite bar with LED lighting, and a beverage refrigerator, all overlooking a spacious limestone patio with integrated lighting. Enjoy evenings by the custom-built flagstone fire pit or relax on the 160-square-foot deck nestled into the lakeside. Floating limestone stairs, underlit for a magical ambiance, lead to the water’s edge. Additional highlights include professional landscaping with boulder retaining walls, an in-ground irrigation system, an invisible fence, and a wired outdoor speaker system extending from the patio to the shoreline. The heated tuck-under garage, with its spancrete design, offers multi-vehicle parking and ample lake toy storage. Located just minutes from New London-Spicer Schools, Spicer parks, Salisbury Beach, the Glacial Lakes Trails system and with easy access to Highway 23, the location cannot be beat! Golfer’s can take advantage of the premier Little Crow Golf Resort just 3 minutes down the road and members and guests of the new Tepetonka golf club will find the home a short 9-minute drive away. This exceptional Green Lake home is truly one-of-a-kind. Welcome to lakeside luxury!
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Location
Property Details
Parking
- Description: Attached Garage
- Details: Concrete, Garage Door Opener, Heated Garage, Storage
- Garage Spaces: 4
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Partial): 1
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 13
- # of Stories: 2
- Basement: Yes
- Basement Description: Finished, Walk-Out Access, Sump Pump
- Fireplace: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 854000280
- Lot Size: 19602 sqft
Property Information
- Property Type: Single Family Residence
- Style: (SF) Single Family
- Year Built: 2008
Tax Information
- Annual Tax: $27,316
Utilities
- Heating: Forced Air
- Cooling: Zoned
Location
- County: Kandiyohi
Listing Details
Investment Summary
- Monthly Cash Flow
- -$12,875
- Cap Rate
- 0.1%
- Cash-on-Cash Return
- -24.4%
- Debt Coverage Ratio
- 0.01
- Internal Rate of Return (5 years)
- -19.6%
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:
| $2,750,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,200,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $550,000 |
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:
| $82,500 |
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:
| $632,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 5,878 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $468 |
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:
| $0.60 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,200,000 |
|---|---|
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:
| $13,014 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $2,276 |
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:
| $245 |
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:
| $15,535 |
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:
| $3,500 | $42,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$210 | -$2,520 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,290 | $39,480 |
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. | 65% | -$2,276 | -$27,316 |
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% | -$245 | -$2,940 |
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% | -$280 | -$3,360 |
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% | -$175 | -$2,100 |
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% | -$175 | -$2,100 |
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 | 90% | -$3,151 | -$37,816 |
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:
| $139 | $1,668 |
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. | -$13,014 | -$156,168 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $12,875 | $154,500 |