$3,795,000
Investment Summary
- Monthly Cash Flow
- -$15,262
- Cap Rate
- 0.9%
- Cash-on-Cash Return
- -21.0%
- Debt Coverage Ratio
- 0.15
- Internal Rate of Return (5 years)
- -16.3%
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
Surrounded by open space on a quiet cul-de-sac in coveted Cedar Draw Estates, you will find one of the most exceptional and rare Park City homes. Wanting a home that "fed them energetically", the homeowners researched the design and construction of straw bale homes and engaged renown architects Constantino Grand Jacquet and Jack Thomas to help in the design and construction. The 1.36-acre homesite is private, and offers exceptional views of Deer Valley ski runs, the iconic McPolin White Barn and according to local arborists, has its own microclimate unlike other areas of Park City. Not big on size but grand in design, they curated a magical sustainable home that is not only healthy, efficient, and enduring but offers finishes and furnishings customized to natural recycled elements and historic materials. There are doors made from centuries old redwood recycled from wine fermentation tanks in Napa Valley, Douglas fir trusses crafted from the Great Salt Lake Union Pacific Railroad, glass and brass fixtures from England, and one of the original banisters from Bennett Paint and Glass salvaged from the historic landmark in downtown Salt Lake. Gently undulating walls of lime plaster provide warmth, flexibility, and great thermal performance around soft round corners. The house gives off a certain energy, and ambiance. It is warm, is aesthetically pleasing, has perfect acoustics, and benefits from south and southeast exposure where intimate spaces capture the sunlight. No aspect of this home has been overlooked from the design, the construction and the selection of natural, recycled and high-end materials. The chef's kitchen is equipped with commercial grade appliances, offers a large center stainless island, sandblasted granite surfaces and in-kitchen dining creating a casual and comfortable entertaining experience. The cabinets are what is considered as Baltic ply, known for high quality, strength and stability. The great room opens onto stunning stone patios and walkways that allow you to explore the meticulous and professionally landscaped gardens. There is a custom built Le Panyol pizza oven that has been a predominant feature when entertaining friends and only adds to the unique characteristics that make this home special. Wander down the stone path through the stunning gardens to the "garden shed" recently transformed into an artist studio with a retractable awning when extended creates a wonderful spot for morning coffee or an afternoon rest. The primary suite is filled with light in the early morning, steps out on a deck constructed using IPE wood, a Brazilian hardwood known for its durability to stand up in harsh climates. Primary bath includes walk-in closet, a large steam shower, a separate jetted tub, sandstone countertops and dual sinks. Radiant floor heating keeps the home comfortable. The orientation of the house and placement of windows adds to the natural ventilation along with Danish Velux skylights. There is on-demand hot water, complete water filtration system, fire suppression inside and out, a meticulous and heated garage with several workspaces that includes a bath and additional storage. The exterior stonework is stunning along with the beautiful trees and plantings perfected sourced with the same landscaper since the beginning. Recent improvements include a fully resurfaced driveway. Sculpt able straw bale with lime plaster constructed homes can be shaped into cozy spaces forming a home that feels like an embrace. This home feels good, offers super insulation from the heat, the cold, the noise of the world, with little energy requirements. It provides a comfortable living space and one that you are sure to appreciate. You will want to see this architectural masterpiece. We look forward to seeing you. For more information on strawbale construction, please check the many resources provided. Square footage figures are provided as a courtesy estimate only. Buyer is advised to obtain an
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Location
Property Details
Parking
- Description: Built-in
- Garage Spaces: 2
- Spaces Total: 5
Bedroom Information
- # of Bedrooms: 2
Bathroom Information
- # of Baths (Full): 1
- # of Baths (Partial): 2
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 10
- # of Stories: 2
- Basement: Yes
- Basement Description: Walk-Out Access
Exterior Features
- Roof Material: Asphalt
HOA
- Has HOA: Yes
- HOA Fee: $1,655/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: CDEII3
- Lot Size: 59241 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2001
Tax Information
- Annual Tax: $8,208
Utilities
- Heating: Radiant Floor, Hot Water
- Cooling: None
Location
- County: Summit
Listing Details
Investment Summary
- Monthly Cash Flow
- -$15,262
- Cap Rate
- 0.9%
- Cash-on-Cash Return
- -21.0%
- Debt Coverage Ratio
- 0.15
- Internal Rate of Return (5 years)
- -16.3%
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:
| $3,795,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$3,036,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $759,000 |
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:
| $113,850 |
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:
| $872,850 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,998 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,266 |
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:
| $1.70 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $3,036,000 |
|---|---|
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:
| 5.875% |
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:
| $17,959 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $684 |
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:
| $357 |
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:
| $19,000 |
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:
| $5,100 | $61,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$306 | -$3,672 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,794 | $57,528 |
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. | 13% | -$684 | -$8,208 |
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% | -$357 | -$4,284 |
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% | -$408 | -$4,896 |
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% | -$255 | -$3,060 |
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% | -$255 | -$3,060 |
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% | -$138 | -$1,656 |
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 | 41% | -$2,097 | -$25,164 |
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:
| $2,697 | $32,364 |
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. | -$17,959 | -$215,508 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $15,262 | $183,144 |