$389,000
Investment Summary
- Monthly Cash Flow
- -$1,004
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -13.5%
- Debt Coverage Ratio
- 0.49
- Internal Rate of Return (5 years)
- -9.0%
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
Property offers 2 separate living units, the front house is a 2 bedroom 1.5 bath home completely redone in 2010. Kitchen has ss appliance, granite counters, 2 pantry closets, mudroom/laundry has ceramic tile floors, large coat closet, washer and dryer with room for a large freezer or a small table and chair set. The open floor plan includes dining area and living room with shiny engineered hardwood floors. 1st floor bedroom has bamboo flooring. 1 full bath with large shower. 2nd floor is one large bedroom and 1/2 bath with ceramic tile floor. 1 finished closet and 3 additional storage areas in the eaves. carpeted floor. Home has oil hot water baseboard heat and also 2 mini split air/heat pumps. The roof has 50 year architectural shingles, vinyl sided and energy star windows. The cottage in the rear of the property was completed in 2012 and offers full kitchen, living room. 1 bedroom and bath with shower. Covered front porch. It has electric baseboard heat and also a split air unit with heat pump. Both homes are spray foam insulated. Guest cottage septic was replaced in 2012. It recently was used as a Real Estate office so it has potential for home business type use or can be used for additional living space. Just under 500 sq feet it is cozy but comfortable. The property is well maintained and landscaped earning many compliments from neighbors and those who pass by daily and saw the transformation. Paved circular driveway with parking pad, 2 car garage with workshop and storage loft, 2 full size car carport, a storage shed, on a level .48 acre lot and a big side yard. The pergola with metal roof offers covered outdoor space with a solo stove and BBQ gas grill and has been the favorite place for owners to relax and enjoy watching the many birds and nature around. A stocked small wood shed for the solo stove is handy too. The Rondout Creek is across the road. Metal privacy fence along the north boundary has solar lights. So pretty at night. The location is perfect for exploring the wonderful sites and events that are available within a short distance in any direction. Hiking, fishing, boating, hunting and just about any outdoor activity you can think of. Farmers market in season, wineries, breweries, local festivals and fairs. Fine restaurants, cultural cuisine, are very near by. Ellenville has a hospital as well. A short drive can bring you to the Resorts Casino and waterpark in Monticello or go east on Route 17 to visit Lego Land. North on 209 to historic Kingston and find yourself at the Hudson River. Over route 44/55 to New Paltz for another attractive area to explore and Minnewaska state park, rock climbing and hiking some of the best trails and water features. Sam's Point and Ice Cave Mountains is the feature along Route 52 E, pull over in one of the designated areas and watch hang gliders soar, perhaps join in the adventures and the thrill that brings people from all over the world to engage in the freedom of flight. Continue on Route 52 and find Orange County attractions, Commuting from here is just under 2 hours to NYC. Find yourself with things to do all the time, or just relax in nature.
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Location
Property Details
Parking
- Description: Mixed
- Details: Carport, Driveway, Garage, Garage Door Opener
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 2
Bathroom Information
- # of Baths (Full): 1
- # of Baths (Partial): 1
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 6
- # of Stories: 1
- Attic: Yes
- Basement: Yes
- Basement Description: Partial, Unfinished
Exterior Features
- Exterior Walls Materials: Siding (Alum/Vinyl)
Land Information
- Land Use: Residential
- Land Use Subtype: Multi-Family Dwellings (any combination 2+)
Lot Information
- Parcel ID: 51568975.3226
- Lot Size: 20909 sqft
Property Information
- Property Type: Single Family Residence
- Style: Cottage
- Year Built: 1935
Tax Information
- Annual Tax: $5,005
Utilities
- Water & Sewer: Public
- Heating: Baseboard, Heat Pump, Hot Water
- Cooling: Ductless
Location
- County: Ulster
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,004
- Cap Rate
- 3.0%
- Cash-on-Cash Return
- -13.5%
- Debt Coverage Ratio
- 0.49
- Internal Rate of Return (5 years)
- -9.0%
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:
| $389,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$311,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $77,800 |
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:
| $11,670 |
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:
| $89,470 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,123 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $346 |
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:
| $1.78 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $311,200 |
|---|---|
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:
| 6.500% |
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:
| $1,967 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $417 |
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:
| $140 |
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:
| $2,524 |
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:
| $2,000 | $24,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$120 | -$1,440 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $1,880 | $22,560 |
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% | -$417 | -$5,005 |
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% | -$140 | -$1,680 |
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% | -$160 | -$1,920 |
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% | -$100 | -$1,200 |
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% | -$100 | -$1,200 |
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% | -$917 | -$11,005 |
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:
| $963 | $11,556 |
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. | -$1,967 | -$23,604 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,004 | $12,048 |