$2,569,000
Investment Summary
- Monthly Cash Flow
- -$9,449
- Cap Rate
- 1.3%
- Cash-on-Cash Return
- -19.2%
- Debt Coverage Ratio
- 0.22
- Internal Rate of Return (5 years)
- -14.5%
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
This TURN KEY LUXURY home in the desirable Meadow Lakes community is a true gem! With 6 bedrooms, 5.5 bathrooms, and over 11,000 sq ft of finished living space, every detail exudes contemporary elegance. The home is freshly painted, features new hardwood flooring, a new chandelier and light fixtures throughout, as well as updated metal balusters. The new kitchen is a chef's dream with Cristalo countertops and backsplash, brand-new Thermador appliances, ample cabinetry, a large island, a walk-in pantry, a built-in desk area, informal dining space, and deck access to enjoy picturesque pond views. The stunning 2-story grand foyer showcases a double staircase with elegant new metal balusters, an exquisite, elegant contemporary new chandelier and a second-level catwalk with newly installed wood floors throughout. The open floor plan includes one of three main-floor lounges. The light-filled family room boasts a floor-to-ceiling new stone fireplace, tall ceilings, deck access, and a massive new wet bar with Taj Mahal countertops. A conveniently located main-level bedroom features a new jaw-dropping full bathroom and is ideal for guests or in-laws. This floor also includes new wood floors with new European porcelain tile upon entry, a private office, a living room with new Cristalo stone fireplace, new matching light fixtures hang in both living and dining room, a new mudroom and laundry room with Taj Mahal countertops and plenty of cabinetry with a new washer and dryer, as well as a second staircase with new metal balusters leading to the second floor. The expansive second-level master suite offers a daily retreat with a sitting area and a luxurious, contemporary en suite bathroom featuring a garden tub, an enormous walk-in closet, separate vanities for him and her, a European-style shower, remote control and censored toilet with a bidet, and panoramic pond views. Down the hall, you'll find spacious bedrooms with large closets and two more recently updated full bathrooms. The basement includes an additional room with an attached full bath, a vast recreation room with a pool table (available for separate purchase), and walkout access to a paver patio. An additional bonus space features a third fireplace. The unfinished area includes laundry facilities, a chic bar area, and ample storage space. Enjoy access to a private fishing dock and a huge gated deck overlooking the serene pond and expansive green space. Recent updates also include a recent serviced sprinkler system, all new smoke and CO detector, new door handles, locks and hinges, light switches, new window treatments, new water sprouts, and new 14 night vision security cameras with a Ring doorbell, ensuring all areas of the home is safe and secure (all in 2024). The driveway and roof were recently done, too. Wait..there's more! All windows seals and mechanicals were replaced and serviced. There's far too much to list, so come and see for yourself. This home is practically new and ready for you to move in! Conveniently located just minutes from I-90, restaurants, shopping, and more! Motivated seller!
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Location
Property Details
Parking
- Description: Attached Garage
- Details: Asphalt, Circular Driveway, Garage Door Opener, On Site, Attached, Garage
- Garage Spaces: 4
- Spaces Total: 4
Bedroom Information
- # of Bedrooms: 6
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Partial): 1
- # of Baths (Total): 6.0
Interior Features
- # of Rooms: 13
- # of Stories: 2
- Basement: Yes
- Basement Description: Finished, Full, Walk-Out Access
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Masonry
- Foundation: Concrete Perimeter
- Roof Material: Asphalt
HOA
- Has HOA: Yes
- HOA Fee: $1,475/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0134200018
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 1993
Tax Information
- Annual Tax: $31,434
Utilities
- Water & Sewer: Well
- Heating: Natural Gas, Forced Air
- Cooling: Central Air
Location
- County: Cook
Listing Details
Investment Summary
- Monthly Cash Flow
- -$9,449
- Cap Rate
- 1.3%
- Cash-on-Cash Return
- -19.2%
- Debt Coverage Ratio
- 0.22
- Internal Rate of Return (5 years)
- -14.5%
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:
| $2,569,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,055,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $513,800 |
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:
| $77,070 |
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:
| $590,870 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 11,020 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $233 |
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:
| $0.72 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,055,200 |
|---|---|
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:
| 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:
| $12,157 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $2,620 |
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:
| $553 |
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:
| $15,330 |
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:
| $7,900 | $94,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$474 | -$5,688 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $7,426 | $89,112 |
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. | 33% | -$2,620 | -$31,434 |
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% | -$553 | -$6,636 |
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% | -$632 | -$7,584 |
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% | -$395 | -$4,740 |
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% | -$395 | -$4,740 |
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. | 2% | -$123 | -$1,476 |
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 | 60% | -$4,718 | -$56,610 |
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:
| $2,708 | $32,496 |
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. | -$12,157 | -$145,884 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $9,449 | $113,388 |