$899,000
Investment Summary
- Monthly Cash Flow
- -$1,348
- Cap Rate
- 4.3%
- Cash-on-Cash Return
- -7.8%
- Debt Coverage Ratio
- 0.70
- Internal Rate of Return (5 years)
- -3.6%
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
A beautiful blend of Victorian and Craftsman design eras, Rockledge at Harriman is a masterpiece of architectural style. With period details including thick fieldstone walls, original woodwork, the turret spanning all four levels, glass pocket doors, window seats, and two wood-burning fireplaces. The beautifully updated eat-in-kitchen which overlooks the pool, is equipped with top-of-the-line appliances and artistic lighting. Along with the expansive living room and formal dining room, completing this level is a 1st floor bedroom and full bathroom. The master bedroom suite on the 2nd floor includes an immense walk-in closet, water closet, steam shower and jetted whirlpool tub, plus an east-facing Juliet balcony for breathtaking sunrises. 4 additional bedrooms complete this level. With 10’ ceilings and light-filled rooms, this 6+ bedroom home offers nearly 5,000 sq ft of living space including the full walk-up attic with fantastic living space and plenty of storage, and the finished walk-out basement. The basement, with a wet bar, fireplace, and half bath, adds another fabulous gathering space and has two private entrances allowing access from either the driveway, or the pool. The outdoor space offers the luxury of an inground saltwater heated pool with spa and waterfall, multiple outdoor terraces, a level lawn, and the impressive and unspoiled surroundings of nature. The patio and rooftop deck on the western side of the home offer picturesque mountain views of sunsets and starry skies amid the curated gardens. Strategically positioned atop the hill of Rockledge Gardens, the house sits on a dead-end private 1.75-acre lot with no through traffic, offering sublime privacy and a wondrous, peaceful setting abutting Harriman State Park. Village life and commuting options are a dream as the home is located within a mile of downtown Suffern, offering quaint shops, fabulous restaurants, and public transportation. NJ Transit is less than a mile away with an express train to Penn Station in under an hour. Updates include: boiler and 75 gal water heater (2025), exterior wood siding paint (2022), appliances (2020-22), in-ground gunite, heated, salt-water pool w waterfall and spa (2014), fenced-in yard.
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Location
Property Details
Parking
- Description: Detached, Driveway, Garage
- Details: Driveway
- Garage Spaces: 2
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 6
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Partial): 1
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 15
- # of Stories: 2
- Attic: Yes
- Basement: Yes
- Basement Description: Finished, Full, Walk-Out Access
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood
- Pool: Yes
HOA
- Has HOA: Yes
- HOA Fee: $240/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 39260747.8414
- Lot Size: 76230 sqft
Property Information
- Property Type: Single Family Residence
- Style: Victorian
- Year Built: 1900
Tax Information
- Annual Tax: $23,326
Utilities
- Water & Sewer: Public
- Heating: Baseboard, Hot Water, Natural Gas
- Cooling: Ductless, Wall/Window Unit(s)
Location
- County: Rockland
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,348
- Cap Rate
- 4.3%
- Cash-on-Cash Return
- -7.8%
- Debt Coverage Ratio
- 0.70
- Internal Rate of Return (5 years)
- -3.6%
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:
| $899,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$719,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $179,800 |
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:
| $26,970 |
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:
| $206,770 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,789 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $188 |
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:
| $1.63 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $719,200 |
|---|---|
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:
| 6.500% |
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:
| $4,546 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,944 |
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:
| $546 |
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:
| $7,036 |
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:
| $7,800 | $93,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$468 | -$5,616 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $7,332 | $87,984 |
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. | 25% | -$1,944 | -$23,327 |
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% | -$546 | -$6,552 |
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% | -$624 | -$7,488 |
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% | -$390 | -$4,680 |
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% | -$390 | -$4,680 |
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% | -$240 | -$2,880 |
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 | 53% | -$4,134 | -$49,607 |
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:
| $3,198 | $38,376 |
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. | -$4,546 | -$54,552 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,348 | $16,176 |