$1,890,000
Investment Summary
- Monthly Cash Flow
- -$7,903
- Cap Rate
- 1.1%
- Cash-on-Cash Return
- -21.8%
- Debt Coverage Ratio
- 0.18
- Internal Rate of Return (5 years)
- -17.1%
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
20 ACRES IN OCONEE COUNTY - 2 HOUSES 2 PONDS 2 WELLS - 2942 & 2944 Salem Road Looking to live in privacy with nature and beauty surrounding you? You have found it! When you turn off the paved road onto the half mile long driveway to your secluded home, you will feel the stress of the day melting away. As the rocking chair front porch of the main house comes into view, you will see the first of 2 stocked ponds situated by the main house. The main house has 4 Bedrooms, 3.5 bathrooms and 2 powder rooms. The Primary Bedroom on the main floor offers a clawfoot soaking tub, a separate shower and a large closet with new custom closet design. There is a large open living room, fireplace, dining room and gourmet kitchen on the main level. The kitchen has a huge island, walk-in pantry with bar refrigerator, and a gourmet 6 burner gas stove/oven. There is also a half bath on the main level in the hall adjacent to the living room. Upstairs hosts the other 3 bedrooms and the 2 full bathrooms and 2 powder rooms. One bathroom features a relaxing clawfoot soaking tub with separate shower, and the other bathroom has a large shower. The second level living room offers tons of flex space for a den and office, with several storage closets. This is a well-built custom house featuring hardwood floors throughout, true shiplap walls, stunning light features and many hardware finishes. The rear of the home offers a huge recently screened porch that runs the entire rear of the house. Enter this rear porch from sliding glass doors exiting the living room, and you will find a large space for dining/ entertaining. There is a brick, wood burning fireplace, space to mount a TV, and room to put a dining table and entertaining area. To the rear of the main home has a view of the second stocked pond and a view of the new carriage house. Enjoy the newly custom brick walkways and porch. The carriage house is brand new construction that has never been lived in. The carriage house features a 3 car garage and a living quarters on the second level. The smaller garage was designed with HVAC and a ceiling fan so it can be used as an home gym, art studio or work room year round. There is a half bath on the main level convenient to a large side grilling porch with hookups for propane if desired. The grilling porch also has a large outdoor deep sink for bathing pets or cleaning fish. On the second level of the carriage house is a perfect space for an in-law suite, a home for an adult child or for a rental apartment. There are 2 bedrooms and 1 full bathroom in the open space living quarters. The kitchen and den offer amazing views of the property and front pond. There is also a hook up for a washer and dryer. Wildlife abounds on this secluded property. The 2 ponds offer hours of family entertainment. You will find that deer, rabbits and turkey show up on a regular basis. Fenced garden on the property to have a mini farm. In addition, there is plenty of space to build a chicken coop for fresh eggs and space to build a barn for horses if that is desired. There is also a separate 10 x10 storage shed with a second well that could supply the water needs for the barn. You have not experienced the beauty and serenity of country living until you have had morning coffee on the front porch while watching the sunrise on the pond or family dinner on the screened back porch. Come see if it is the secluded, home sanctuary you have been waiting for.
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Location
Property Details
Parking
- Description: Detached, Garage, Garage Door Opener, Guest, Parking Pad, RV/Boat Parking
- Details: Detached, Garage, Garage Door Opener, Guest, Parking Pad, Boat
- Garage Spaces: 10
- Spaces Total: 10
Bedroom Information
- # of Bedrooms: 6
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Partial): 2
- # of Baths (Total): 0.0
Interior Features
- # of Stories: 2
- Basement Description: Crawl Space
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Log
- Foundation: Block
- Roof Type: Gable
- Roof Material: Metal
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: A11006B
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Country/Rustic, Traditional
- Year Built: 2020
Tax Information
- Annual Tax: $4,316
Utilities
- Water & Sewer: Private, Well
- Heating: Central
- Cooling: Electric
Location
- County: Oconee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$7,903
- Cap Rate
- 1.1%
- Cash-on-Cash Return
- -21.8%
- Debt Coverage Ratio
- 0.18
- Internal Rate of Return (5 years)
- -17.1%
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:
| $1,890,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,512,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $378,000 |
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:
| $56,700 |
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:
| $434,700 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 5,200 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $363 |
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:
| $1,512,000 |
|---|---|
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:
| 6.625% |
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:
| $9,682 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $360 |
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:
| $217 |
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:
| $10,259 |
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:
| $3,100 | $37,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$186 | -$2,232 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,914 | $34,968 |
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. | 12% | -$360 | -$4,316 |
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% | -$217 | -$2,604 |
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% | -$248 | -$2,976 |
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% | -$155 | -$1,860 |
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% | -$155 | -$1,860 |
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 | 37% | -$1,135 | -$13,616 |
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:
| $1,779 | $21,348 |
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. | -$9,682 | -$116,184 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $7,903 | $94,836 |