$3,100,000
Investment Summary
- Monthly Cash Flow
- -$14,456
- Cap Rate
- 0.7%
- Cash-on-Cash Return
- -24.3%
- Debt Coverage Ratio
- 0.11
- Internal Rate of Return (5 years)
- -19.5%
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
Stunning and impressive Hyde Park home and coach house designed by architect, James Gamble Rogers, is a short walking distance to The University of Chicago campus and hospital. This Collegiate Gothic architecture is similar to The University of Chicago impressive Gothic buildings. This home is filled with original classical architectural details and is tastefully updated to fit today's modern lifestyle. There is a huge entrance/Reception Hall with an adjoining sitting room area flanked by huge windows and floor to ceiling wainscoting. The main level has high ceilings, classical wood pocket doors, leaded glass windows, impressive floor to ceiling wood columns, and a grand staircase leading to the upper floors. The main level is perfectly designed for entertaining with the open floor plan which leads from the entrance hall/gallery with a welcoming sitting room area, to large pocket doors leading to an enormous sunny living room with built in book cases and shelves. In the sitting room there is an impressive marble fireplace and high beamed ceiling. The living room with its huge French doors also opens to a huge dining room which opens to an outdoor terrace and on the other end of the room, opens to an indoor sun-room. The sun-room is great for casual lounging with its surrounding views of the landscaped yard. The dining room opens to a large butler's panty which has a vintage silver sink and leads to a huge kitchen adjoining another ample sized room which is perfect for a play room or family room. The kitchen and butler's pantry is reminiscent of the English country homes kitchens. The impressive grand staircase from the entrance hall leads to the top two floors. The 2nd floor has a primary suite with a soaking tub and a huge walk in shower. The rooms have all been restored and repainted, bathrooms have been updated with new fixtures throughout. The second level has a library with a leaded glass built in bookcase. All the rooms have fireplaces. plus all 3 bedrooms on the second floor are all ensuite. There is a huge primary bath with a separate shower and separate soaking tub. Also, the 2nd floor bedrooms and library have French doors leading to outdoor terraces. The 3rd floor has 4 bedrooms. There is a two bedroom coach house which has been undated and is now rented. A two car garage is below the coach house. The house has been totally updated to include: wallpaper removal from rooms and all walls restored and repainted, the wood floors refinished and restored throughout, whole house tuckpointed, water re-piped, new A/C installed, new electric upgrade to 400 amp., new boiler installed, new fence, new driveway which holds approximately 4 cars, plus the 2 car garage below the two bedroom coach house apartment. In addition to the garage parking, there is room in the driveway for approximately 5 more cars. The entire yard was landscaped, front and back of the property to include backyard hardscape of a bricked sitting area adjacent to the outdoor terrace, a greenspace with new sod and trees in the back, and new sod and plantings in the front. The coach house is now rented.
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Location
Property Details
Parking
- Description: Garage
- Details: Concrete, Heated Garage, On Site, Detached, Garage, Driveway
- Garage Spaces: 2
- Spaces Total: 2
Bedroom Information
- # of Bedrooms: 7
Bathroom Information
- # of Baths (Full): 6
- # of Baths (Partial): 1
- # of Baths (Total): 7.0
Interior Features
- # of Rooms: 13
- # of Stories: 2
- Basement: Yes
- Basement Description: Partially Finished, Exterior Entry, Storage Space, Full
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Masonry
- Roof Material: Slate
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 2011312008
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Traditional
- Year Built: 1904
Tax Information
- Annual Tax: $31,428
Utilities
- Water & Sewer: Public
- Heating: Natural Gas
- Cooling: Central Air
Location
- County: Cook
Listing Details
Investment Summary
- Monthly Cash Flow
- -$14,456
- Cap Rate
- 0.7%
- Cash-on-Cash Return
- -24.3%
- Debt Coverage Ratio
- 0.11
- Internal Rate of Return (5 years)
- -19.5%
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:
| $3,100,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,480,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $620,000 |
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:
| $93,000 |
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:
| $713,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 7,000 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $443 |
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:
| $0.90 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,480,000 |
|---|---|
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:
| 6.810% |
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:
| $16,184 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $2,619 |
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:
| $441 |
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:
| $19,244 |
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:
| $6,300 | $75,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$378 | -$4,536 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $5,922 | $71,064 |
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. | 42% | -$2,619 | -$31,428 |
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% | -$441 | -$5,292 |
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% | -$504 | -$6,048 |
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% | -$315 | -$3,780 |
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% | -$315 | -$3,780 |
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 | 67% | -$4,194 | -$50,328 |
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:
| $1,728 | $20,736 |
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. | -$16,184 | -$194,208 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $14,456 | $173,472 |