$2,749,000
Investment Summary
- Monthly Cash Flow
- -$12,049
- Cap Rate
- 0.9%
- Cash-on-Cash Return
- -22.9%
- Debt Coverage Ratio
- 0.14
- Internal Rate of Return (5 years)
- -18.1%
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
This exceptional Five Points listing offers a traditional painted brick home with amazing curb appeal located on one of Athens most coveted streets. Nestled on a beautiful, level lot, the propertys custom landscaping features lush sod in the front yard and low-maintenance astro turf in the rear. This land was once part of the historic Cloverhurst Country Club, which is highlighted by an original stone wall that enhances the rear landscape. Upon entering, you are welcomed by a spacious foyer that opens into a grand formal dining room to the right, complete with a gas fireplace with black marble surround and a custom built-in china cabinet. To the left, the foyer leads to a refined living room, which flows into a handsome study featuring a gas fireplace and access to a cozy covered front porch. A functional landing area beyond the foyer includes a full bathroom, large walk-in pantry and a built-in corner desk, serving as a convenient transition to both the kitchen and the incredible great room. This impressive addition boasts coffered ceilings, a stacked stone fireplace, and a wet bar equipped with an ice maker and beverage cooler. Custom built-ins frame the fireplace, while French doors open onto an inviting vaulted screened porch, complete with built-in heaters, a wood-burning fireplace, and access to a stone grilling patio ensuring year-round comfort. Hardwood floors span the main level with the exception of one secondary bedroom. The gourmet kitchen is a chefs dream, featuring top tier appliances with a six-burner gas stovetop, wall oven, warming drawer, and a new refrigerator with an ice and water dispenser. The large island provides decorative shelving for cookbooks and additional storage for larger scale items. There is ample space for either a large dining table or an additional sitting area within the kitchen which overlooks the rear lawn. The main level also houses the owners suite, which boasts a luxurious new bathroom featuring a large spa style walk-in shower with multiple shower heads, frameless glass, heated floors, and dual vanities with quartz countertops. Both closets are outfitted with custom shelving and storage solutions, and French doors provide access to the screened porch. Two additional bedrooms are located on the main level one serving as the original owners suite, while the other, situated at the rear of the home, is currently used as a second den and workout space. Within this room is a private half bath making it effortless to convert to a full bathroom if so desired. This room also provides access to the enchanting backyard. A beautifully renovated laundry room on the main floor includes a utility sink, custom cabinets, a broom closet, and twin built-in dog crates, making laundry a breeze in this bright and thoughtfully designed area. Upstairs, you will find two carpeted, spacious teen suites, both with sitting areas, large walk-in closets, and en-suite bathrooms. Each bath features a tub/shower combo and vanities with granite countertops. Every bedroom in the house provides privacy and comfort due to their strategic separation in the floorplan. These rooms could easily be considered primary bedrooms due to their sheer size. One of the highlights of this property is its multiple outdoor entertaining spaces. The vaulted screened porch opens to reveal a generous stone patio, ideal for grilling, which seamlessly transitions to the astro turf lawn. This outdoor space wraps around to an open play area and an original stone patio featuring a built-in stone grill, which could easily be enhanced to serve as an outdoor fireplace. Additional features include a two car garage with Epoxy flooring, new roof in 2021 and young systems. This new listing is for the most discerning of buyers and deserves an in person tour! Call me today to secure your private showing and experience for yourself the charm and allure of this exceptional property. See more at 577WCloverhurst.Com.
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Location
Property Details
Parking
- Description: Attached, Garage
- Details: Attached, Garage
- Garage Spaces: 4
- Spaces Total: 4
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Partial): 1
- # of Baths (Total): 0.0
Interior Features
- # of Rooms: 7
- # of Stories: 2
- Basement Description: Crawl Space
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Brick
- Roof Type: Gable
- Roof Material: Composition
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 124B2B007
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Traditional
- Year Built: 1960
Tax Information
- Annual Tax: $21,975
Utilities
- Water & Sewer: Public
- Heating: Central, Other
- Cooling: Electric
Location
- County: Clarke
Listing Details
Investment Summary
- Monthly Cash Flow
- -$12,049
- Cap Rate
- 0.9%
- Cash-on-Cash Return
- -22.9%
- Debt Coverage Ratio
- 0.14
- Internal Rate of Return (5 years)
- -18.1%
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:
| $2,749,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$2,199,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $549,800 |
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:
| $82,470 |
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:
| $632,270 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 5,905 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $466 |
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:
| $0.95 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $2,199,200 |
|---|---|
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:
| 6.625% |
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:
| $14,082 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,831 |
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:
| $392 |
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:
| $16,305 |
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:
| $5,600 | $67,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$336 | -$4,032 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $5,264 | $63,168 |
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% | -$1,831 | -$21,975 |
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% | -$392 | -$4,704 |
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% | -$448 | -$5,376 |
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% | -$280 | -$3,360 |
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% | -$280 | -$3,360 |
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 | 58% | -$3,231 | -$38,775 |
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:
| $2,033 | $24,396 |
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. | -$14,082 | -$168,984 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$12,049 | -$144,588 |