$1,375,000
Investment Summary
- Monthly Cash Flow
- -$4,225
- Cap Rate
- 2.0%
- Cash-on-Cash Return
- -16.0%
- Debt Coverage Ratio
- 0.35
- Internal Rate of Return (5 years)
- -11.5%
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 delightfully rustic Lake Hartwell home offers a wealth of custom, handcrafted finishes creating a unique property for your consideration with none other quite like it in the area. Situated on the shores of Lake Hartwell you will enjoy a covered slip boat dock in a gorgeous, wide cove setting. Built in 2010, the main house is constructed with White Pine siding with extensive ironwood handrails with poplar bark inlays and mountain laurel pickets. Welcome guests at the stunning front entry with vaulted timber frame with rock steps and poplar bark accents. The lakeside great room has oak hardwood flooring which extends throughout much of the home. Cool nights will be well spent in front of the rock fireplace flanked by handmade built in shelves. White Pine planks adorn the walls up to the towering tongue & groove ceilings which holds the jewel of the room- a custom handcrafted Terry Wilson authentic antler chandelier. Retire to your private, lakeside master suite complete with rock fireplace & two person jetted tub. Be sure to peek into the rock walk in shower with a mesmerizing water fall rear wall. Dual vanities with copper sinks are topped with handmade timber framed mirrors and a walk in closet complete the master suite. Venture out from the master onto the lakeside covered porch complete with a swing bed; this is sure to be one of many favorite spots you will discover! The kitchen offers custom cabinetry and a beautiful copper sink and the lakeside dining area also hosts a Terry Wilson custom designed and crafted authentic antler chandelier. Access to the laundry room is from the kitchen area or from the exterior and you will love the storage and laundry sink along with the washer/dryer which remains for you. A guest half bath with hand made mirror and copper sink completes the main level interior. The upper level has two spacious guest rooms and a full hall bathroom. Don't miss the overlook from the upper level through the glassed wall out towards the lake. The terrace level will be another wonderful spot for entertaining guests after a full day of lake front fun! A full bar, family room, pool room and play room all comprise one spacious and open lower level with numerous lakeside specialty touches. Put your best drink master behind the bar built of rare reclaimed wormy chestnut and featuring an ice machine, bar fridge and sink. A third rock fireplace is the focal point of the lakeside sitting room which is open to the pool room topped with one more very special Terry Wilson handcrafted chandelier created with authentic antlers. Beyond the pool table the right side of the lower level could be easily enclosed with a wall and entry door if you desired an additional bedroom. A full bathroom with custom touches serves this level. Tucked away inside the media closet are the componets for the electronics for the surround sound system for the interior and exterior of the home. (See the associated docs files for further info on these components.) Take your entertaining to the next level by venturing outside where meals can be prepared on the rustic outdoor kitchen with sink, fridge, built in gas grill and built in cooler while guests lounge by the massive round gas, rock fire pit or on the covered patio with ceilings crafted from stamped concrete to create a rustic weathered wood effect. From this area a paved cart path provides easy access down to your covered slip boat dock. Let's not forget the tri-level carriage house which blends effortlessly with the design of the main home. The upper level provides a guest suite with kitchenette and full bathroom. The center level hosts a garage for vehicles and the bottom level has a 24x24 workshop. There is ample parking on the exposed aggregate river rock driveway which is accented by mature landscaping. If you are seeking a rustic retreat on Lake Hartwell then 582 Rock Creek Bay Drive may be your perfect place.
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Location
Property Details
Parking
- Description: Garage Door Opener, Detached, Garage, Kitchen Level, Parking Pad
- Details: Garage Door Opener, Detached, Garage, Kitchen Level, Parking Pad
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Total): 0.0
Interior Features
- # of Rooms: 2
- # of Stories: 2
- Basement: Yes
- Basement Description: Concrete, Interior Entry, Exterior Entry, Finished, Full
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Other
- Roof Material: Composition
HOA
- Has HOA: Yes
- HOA Fee: $250/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 3350003054
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Craftsman
- Year Built: 2010
Tax Information
- Annual Tax: $1,345
Utilities
- Water & Sewer: Public
- Heating: Heat Pump, Electric
- Cooling: Electric, Heat Pump
Location
- County: Oconee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$4,225
- Cap Rate
- 2.0%
- Cash-on-Cash Return
- -16.0%
- Debt Coverage Ratio
- 0.35
- Internal Rate of Return (5 years)
- -11.5%
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:
| $1,375,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,100,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $275,000 |
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:
| $41,250 |
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:
| $316,250 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,186 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $328 |
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:
| $0.84 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,100,000 |
|---|---|
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:
| $6,507 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $112 |
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:
| $245 |
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:
| $6,864 |
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:
| $3,500 | $42,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$210 | -$2,520 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,290 | $39,480 |
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. | 3% | -$112 | -$1,345 |
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% | -$245 | -$2,940 |
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% | -$280 | -$3,360 |
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% | -$175 | -$2,100 |
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% | -$175 | -$2,100 |
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. | 1% | -$21 | -$252 |
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 | 29% | -$1,008 | -$12,097 |
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:
| $2,282 | $27,384 |
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. | -$6,507 | -$78,084 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $4,225 | $50,700 |