$2,100,000
Investment Summary
- Monthly Cash Flow
- -$8,128
- Cap Rate
- 1.6%
- Cash-on-Cash Return
- -20.2%
- Debt Coverage Ratio
- 0.26
- Internal Rate of Return (5 years)
- -15.5%
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 Tower Oaks, the grandest Victorian home in Historic Marietta, now offered for sale! This distinguished Italian-style villa, built circa 1882, is the only residence of its kind in the city. With 5 bedrooms, 4.5 bathrooms, and impeccable architectural details, this historic estate offers a rare opportunity to own a piece of Marietta's rich heritage. The stately entry hall features leaded glass doors and sidelights that fill the space with natural light, illuminating the intricate woodwork and gleaming hardwood floors that extend throughout the home. The main living area boasts a magnificent brick fireplace, one of eight fireplaces in this home. Quarter-sawn oak paneling, egg-and-dart molding, and built-in window seats and bookcases add character and elegance. A striking feature of Tower Oaks is the built-in grandfather clock, seamlessly crafted by Judge Samuel Hale Sibley using repurposed wood and Civil War artifacts, including cannonballs and a bayonet. This unique piece of history reflects the home's timeless grandeur. Pocket doors lead from the living room to the charming parlor, complete with a bay window and inviting window seat. The 13-foot ceilings enhance the sense of space and sophistication. The expansive dining room is ideal for entertaining, with large windows, a stunning canvas frieze capturing Kennesaw Mountain, and a built-in sideboard offering ample storage. The breakfast room connects to the kitchen with a convenient passthrough counter. Nearby, a spacious utility room with a half-bathroom serves as a versatile space for laundry, flower arranging, or storage. Enjoy your morning coffee on the sun porch, surrounded by windows and bathed in natural light. Two spacious bedrooms and adjoining bathrooms with vintage marble sinks are located on the main level. Ascend the solid walnut staircase to the upper floor, where you'll find a dedicated office, three additional bedrooms, two full bathrooms, and a versatile great hall. Two bonus rooms offer the perfect opportunity for a home office, nursery, or extra guest space. Outdoor surroundings are equally impressive. Relax on the wraparound porches and admire the lush boxwoods, vibrant flower gardens, scuppernong arbor, and camellia bushes. The expansive front and back yards are ideal for hosting gatherings or enjoying peaceful evenings. The house has driveway access from both Kennesaw Avenue and Maple Avenue, where the entrance is flanked by a picturesque stone wall. A circular driveway provides ample parking in the back. A massive historic barn features two garage stalls, a large workshop, and a loft for additional storage. Located just blocks from the Historic Marietta Square, 285 Kennesaw Avenue offers convenient access to charming shops, local dining, and cultural attractions. This iconic Italian-style villa is more than just a home - it's a living piece of Marietta's history. Schedule your private tour today and experience the timeless elegance of Tower Oaks!
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Location
Property Details
Parking
- Description: Detached Garage
- Details: Detached, Driveway, Garage Faces Rear
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Partial): 1
- # of Baths (Total): 5.0
Interior Features
- # of Rooms: 8
- # of Stories: 2
- Basement: Yes
- Basement Description: Crawl Space, Exterior Entry, Interior Entry, Unfinished
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood
- Foundation: None
- Roof Material: Composition
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 16115800960
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: European, Victorian
- Year Built: 1882
Tax Information
- Annual Tax: $2,003
Utilities
- Water & Sewer: Public
- Heating: Heat Pump
- Cooling: Attic Fan, Window Unit(s)
Location
- County: Cobb
Listing Details
Investment Summary
- Monthly Cash Flow
- -$8,128
- Cap Rate
- 1.6%
- Cash-on-Cash Return
- -20.2%
- Debt Coverage Ratio
- 0.26
- Internal Rate of Return (5 years)
- -15.5%
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:
| $2,100,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,680,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $420,000 |
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:
| $63,000 |
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:
| $483,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 0 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| n/a |
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:
| n/a |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,680,000 |
|---|---|
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:
| $10,997 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $167 |
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:
| $308 |
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:
| $11,472 |
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:
| $4,400 | $52,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$264 | -$3,168 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,136 | $49,632 |
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. | 4% | -$167 | -$2,003 |
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% | -$308 | -$3,696 |
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% | -$352 | -$4,224 |
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% | -$220 | -$2,640 |
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% | -$220 | -$2,640 |
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 | 29% | -$1,267 | -$15,203 |
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:
| $2,869 | $34,428 |
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. | -$10,997 | -$131,964 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $8,128 | $97,536 |