$8,350,000
Investment Summary
- Monthly Cash Flow
- -$46,484
- Cap Rate
- -0.6%
- Cash-on-Cash Return
- -29.0%
- Debt Coverage Ratio
- -0.10
- Internal Rate of Return (5 years)
- -24.0%
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
Ulster Landing is a storied & magnificent former Livingston estate established in the early 1800s, perched on 34 acres above the Hudson River with far-reaching views & more than half a mile of river frontage. Down a long, winding driveway lies the historic and remarkably well-preserved main house. On the 1st floor, the formal living & dining rooms have exquisite views of the river & are connected by the original arched doors. French doors line the living spaces, opening to the home's wraparound porch & overlooking the surrounding gardens & bluestone dining terrace. Inside, the deep berry-red kitchen was a painstaking collaboration between a local craftsman & the home's designer, with elaborate millwork, an AGA range, multiple restored historic pieces, & ample pantry & appliance storage. The family room, office, library- complete with built-in bookshelves & a characterful indigo Antoinette Poisson wallpaper, and full bath/powder room completes the first floor. The grand staircase twists around, meeting the second-floor landing & the best view in the house, framed by two large windows, the top of which disappears into the home's 'tower'. There are two distinct wings on the second floor - the owner's wing & the guest wing, each with its own staircase & landing. The owner's wing is home to the primary suite & a kid's suite. The primary features vaulted ceilings & large arched French doors that lead out to a balcony. An expansive dressing room with built-in closets & a fireplace and primary bath with freestanding soaking tub facing the Hudson, & an alcoved toilet & shower complete the suite. Down the hall from the primary bedroom is the colorful kid's room with striped Swedish wallpaper & a walk-in closet. The two-toned kid's bath has a claw-foot tub with a shower surround. Second-floor laundry & a large linen closet complete the owner's wing. A long balcony runs along the entire guest wing, offering access via French doors in the double guest suite & the single guest room. The double room features vaulted ceilings, an extra-large walk-in closet, & a full bath. The single room has detailed millwork & playful wallpaper, with its accompanying bathroom down the hall. The home is not short on functional yet tasteful utility spaces, with the ground-floor rooms converted into a laundry room, gardening mudroom, pantry & walk-in refrigerator, as well as significant storage space. The laundry & flower room is painted a deep ochre color, with ample built-in cabinetry, an XL utility sink, open shelving for vases, & two sets of high-capacity washers & dryers. The gardening mudroom has exposed historic brick walls & access to the surrounding herb & flower gardens, wood storage, & the exterior potting station. Ulster Landing, with its 34+ acres, possesses a particularly dynamic landscape, with several rolling wildflower meadows, centuries-old flowering trees, winding walking trails, & a pebble beach along the Hudson River. The heated gunite pool, spa, & surrounding bluestone terrace sit perched on top of a hill overlooking the river, with an outdoor shower & a concealed storage room built in below. The circa 1800s barn, with a long bay currently acting as a garage, still contains much of the property's original maintenance & horse-drawn carriage equipment. Up the driveway towards the property's entrance are the Playhouse & the Gatehouse. The Playhouse, a light-filled mid-century cabin, features a large living space, a kitchenette, a full bath, & a separate room that serves as a gym but could easily be used as a cousins' bunk room, art studio, office, or an overflow guest space. The Gatehouse is original to the property & is currently a charming one-bedroom cottage, ideal for caretakers, staff, or guests. The home is minutes from Kingston's historic district, 15 minutes from Saugerties, Rhinebeck, Red Hook, Tivoli, & the Rhinecliff Amtrak train station, a half hour from Hudson, & just over an hour & a half from New York City.
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Location
Property Details
Parking
- Description: Attached Garage
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 6
Bathroom Information
- # of Baths (Full): 7
- # of Baths (Partial): 0
- # of Baths (Total): 7.0
Interior Features
- # of Rooms: 25
- # of Stories: 1
- Basement: Yes
- Basement Description: Finished, Full
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Multi-Family Dwellings (any combination 2+)
Lot Information
- Parcel ID: 51540040.1717
- Lot Size: 1502820 sqft
Property Information
- Property Type: Single Family Residence
- Style: Victorian
- Year Built: 1860
Tax Information
- Annual Tax: $70,183
Utilities
- Water & Sewer: Public, Private, Well
- Heating: Forced Air, Heat Pump
- Cooling: Central Air, Wall/Window Unit(s)
Location
- County: Ulster
Listing Details
Investment Summary
- Monthly Cash Flow
- -$46,484
- Cap Rate
- -0.6%
- Cash-on-Cash Return
- -29.0%
- Debt Coverage Ratio
- -0.10
- Internal Rate of Return (5 years)
- -24.0%
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:
| $8,350,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$6,680,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $1,670,000 |
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:
| $250,500 |
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:
| $1,920,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 6,900 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,210 |
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:
| $0.33 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $6,680,000 |
|---|---|
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:
| 6.500% |
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:
| $42,222 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $5,849 |
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:
| $161 |
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:
| $48,232 |
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:
| $2,300 | $27,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$138 | -$1,656 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,162 | $25,944 |
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. | 254% | -$5,849 | -$70,183 |
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% | -$161 | -$1,932 |
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% | -$184 | -$2,208 |
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% | -$115 | -$1,380 |
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% | -$115 | -$1,380 |
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 | 279% | -$6,424 | -$77,083 |
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:
| -$4,262 | -$51,144 |
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. | -$42,222 | -$506,664 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$46,484 | -$557,808 |