$949,000
Investment Summary
- Monthly Cash Flow
- -$3,569
- Cap Rate
- 1.8%
- Cash-on-Cash Return
- -19.6%
- Debt Coverage Ratio
- 0.28
- Internal Rate of Return (5 years)
- -15.0%
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
Welcome to this stunning and meticulously designed residence with a fresh coat of paint throughout that encapsulates the perfect blend of modern elegance and rustic charm. Upon entering, you are greeted by an expansive foyer that boasts soaring ceilings adorned with intricate molding, creating a sense of openness and grandeur. The glossy, recently refinished hardwood flooring gleams under the natural light that pours in through the strategically placed windows, highlighting the spaciousness that this home has to offer. As you transition into the heart of the home, the open-concept living area beckons with its inviting ambiance, featuring an exquisite fireplace that serves as a focal point, framed by custom built-in shelves that offer both functionality and aesthetic appeal. The abundant windows invite the outside in, providing a picturesque view of the Mountains in the distance and allowing for ample light to illuminate the space throughout the day. Adjacent to the living area is a chef's dream kitchen that is equipped with an extensive island that doubles as a breakfast bar, and beautiful cabinetry that seamlessly marries style and practicality. The countertops glisten, reflecting the soft glow from the overhead pendant lights, making it the perfect space for culinary experimentation or casual gatherings with friends and family. The dining area flows effortlessly from the kitchen, providing a cozy yet sophisticated space for family meals or entertaining guests. With sufficient room for a large dining table, it sets the stage for countless dinner parties and festive celebrations. Additionally, the home features a dedicated office space, ensuring that you have a quiet and productive environment, whether working from home or pursuing personal projects. The atmosphere is versatile and functional, accommodating the diverse needs of modern living.The main level also features a guest bedroom with full bathroom and a keeping room off the kitchen. The stairway off the main foyer entry takes you to the second level where you will discover a series of well-appointed bedrooms, each offering a unique charm and style. The master suite is particularly noteworthy, featuring an expansive layout that includes a luxurious en-suite bathroom complete with a soaking tub, a separate walk-in shower, and dual vanities that offer convenience and privacy. This personal sanctuary is designed to be a peaceful retreat, meticulously crafted to enhance relaxation and rejuvenation. The large walk-in closet with custom built-in shelving is functional and impressive. The additional 2 bedrooms (one with access to its own screened in porch) with new carpet are equally inviting, providing ample storage with built-in closets and a shared bathroom that speaks to the thoughtful design of this home. A 3rd bedroom features its own private bathroom. Each space is infused with warmth and character, ensuring comfort for family members or guests alike. For those who enjoy outdoor living, step outside on to the expansive deck with breathtaking views and access the main floor screened in porch. Another screened in porch on the second level has easy access through one of the secondary bedrooms. The terrace level has a full inlaw suite with its own bedroom, full bathroom, media room with home theater, pool table and custom kitchen with commercial range. Walk outside to a covered patio area and a full outdoor kitchen with grill, smoker and pizza oven! Every corner of this remarkable home has been designed with thoughtfulness and intent, showcasing a perfect marriage of comfort, style, and practicality. With its exquisite features and enchanting ambiance, this residence provides an unparalleled quality of life for those seeking a home that resonates with sophistication and charm. Embrace the opportunity to experience true luxury living in this exceptional property.
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Location
Property Details
Parking
- Description: Attached, Garage, Garage Door Opener, Kitchen Level, Level Driveway
- Details: Garage Door Opener, Attached, Driveway, Garage, Garage Faces Side, Kitchen Level
- Garage Spaces: 3
- Spaces Total: 8
Bedroom Information
- # of Bedrooms: 6
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Total): 5.0
Interior Features
- # of Stories: 3
- Basement: Yes
- Basement Description: Finished, Full, Daylight, Exterior Entry, Interior Entry
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Brick Veneer
- Foundation: Concrete Perimeter
- Roof Type: Hip
- Roof Material: Shingle, Composition
HOA
- Has HOA: Yes
- HOA Fee: $1,057/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 14N15C183
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Traditional
- Year Built: 2006
Tax Information
- Annual Tax: $8,817
Utilities
- Water & Sewer: Public
- Heating: Forced Air, Central, Natural Gas
- Cooling: Central Air, Ceiling Fan(s), Electric
Location
- County: Cherokee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$3,569
- Cap Rate
- 1.8%
- Cash-on-Cash Return
- -19.6%
- Debt Coverage Ratio
- 0.28
- Internal Rate of Return (5 years)
- -15.0%
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:
| $949,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$759,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $189,800 |
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:
| $28,470 |
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:
| $218,270 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 5,991 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $158 |
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:
| $0.53 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $759,200 |
|---|---|
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:
| 6.810% |
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:
| $4,954 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $735 |
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:
| $224 |
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:
| $5,913 |
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:
| $3,200 | $38,400 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$192 | -$2,304 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,008 | $36,096 |
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. | 23% | -$735 | -$8,817 |
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% | -$224 | -$2,688 |
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% | -$256 | -$3,072 |
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% | -$160 | -$1,920 |
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% | -$160 | -$1,920 |
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. | 3% | -$88 | -$1,056 |
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 | 51% | -$1,623 | -$19,473 |
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:
| $1,385 | $16,620 |
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. | -$4,954 | -$59,448 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $3,569 | $42,828 |