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$749,000

For Sale - Active
71 Canvasback Ct, Monticello, GA 31064
3 Beds
0 Baths
3,600 Square Feet
0.00 Acres Lot
Built in 1990
For Sale - Active
Units n/a
Checked: 1 hour ago
Updated: Jul 17, 2025 at 06:39AM

Investment Summary


Monthly Cash Flow
-$1,915
Cap Rate
3.1%
Cash-on-Cash Return
-13.3%
Debt Coverage Ratio
0.50
Internal Rate of Return (5 years)
-8.9%

Property Description


0.00 Acres Lot
Built in 1990
For Sale - Active
Units n/a

Welcome to this beautifully renovated lakefront home located in a deep water quiet cove in Turtle Cove, where modern upgrades, stunning views, Huge greatroom, kitchen, downstairs media/family room and top-tier amenities come together to create the perfect retreat. From the moment you step inside, you'll notice the warmth of the hardwood floors that extend throughout the middle level, including the staircases and upstairs hallway. The completely updated kitchen is a chef's dream, featuring elegant Calacatta Classique Quartz countertops, a new sink, backsplash, cabinetry, and stylish lighting. All-new appliances, including an oven, microwave, dishwasher, and refrigerator, make this kitchen both functional and luxurious. The expansive great room, complete with hardwood floors and a masonry fireplace, offers a cozy space to gather, while the screened porch provides a peaceful spot to unwind and take in the lakeside views. Freshly painted bedrooms with brand-new carpeting create a welcoming and comfortable atmosphere. The spacious open basement, designed for flexibility, boasts new LVP flooring, ceiling tiles, and lighting, offering endless possibilities for a media room, game room, or additional sleeping areas. The bathrooms have been thoughtfully updated as well. The hall bath now features a new vanity, sink top, toilet, and a relaxing jacuzzi tub/shower. In the master suite, a luxurious six-foot soaker tub, separate shower, and private deck provide a tranquil escape. Comfort is ensured with three separate HVAC units, including two brand-new units for the basement and middle floor, while the top-floor unit has been recently serviced. Two fireplaces-one in the living area and another in the basement-add to the home's charm. The Outdoor living is just as impressive. Hardy plank siding with stone accents. Beautifully landscaped yard includes a lush Zoysia lawn with an irrigation system sourced from the lake. A rare and grandfathered private boat ramp provides effortless water access, complemented by a floating covered two-slip dock with an electrical lift, an additional open dock, and a stationary dock area. An attached watercraft and jet ski ramp make lake adventures even more convenient. Situated in a deep cove, this home offers year-round water access, making it a perfect lakeside retreat. Living in Turtle Cove means access to an array of amenities, including golf, a large pool, a restaurant, four private beaches, and pickleball courts, all available for less than $500 a year in membership dues. This move-in-ready lakefront home combines modern updates with timeless charm, offering the perfect balance of comfort and recreation. Don't miss the opportunity to make this exceptional property yours-schedule a showing today!

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Location


Property Details


Parking

  • Description: Attached, Carport, Detached, Garage Door Opener, Kitchen Level, Parking Shed, RV/Boat Parking, Side/Rear Entrance, Storage
  • Details: Attached, Carport, Detached, Garage Door Opener, Kitchen Level, Storage, Boat
  • Garage Spaces: 0
  • Spaces Total: 6

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 3
  • Basement: Yes
  • Basement Description: Exterior Entry, Full, Interior Entry
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Wood
  • Roof Type: Gable
  • Roof Material: Composition

HOA

  • Has HOA: Yes
  • HOA Fee: $455/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 025A14201
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Traditional
  • Year Built: 1990

Tax Information

  • Annual Tax: $6,289

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Jasper

Listing Details


Listed by:
Wally H. Cawthon
Lake Homes Realty LLC
(205) 985-2991

Source:
Georgia MLS
MLS#: 10557378
Georgia MLS

Investment Summary


Monthly Cash Flow
-$1,915
Cap Rate
3.1%
Cash-on-Cash Return
-13.3%
Debt Coverage Ratio
0.50
Internal Rate of Return (5 years)
-8.9%

Purchase Details

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Purchase price:
$749,000
Amount financed:
-$599,200
Down payment:
$149,800
Closing costs:
$22,470
Rehab costs:
$0
Initial cash invested:
$172,270
Square feet:
3,600
Cost per square foot:
$208
Monthly rent per square foot:
$1.00

Financing Details

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Loan amount:
$599,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$3,837
Property tax:
$524
Insurance:
$252
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,613

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,600 $43,200
Vacancy loss: (6%)
6% -$216 -$2,592
Operating income:
$3,384 $40,608

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$524-$6,290
Insurance: (7%)
7%-$252-$3,024
Property management: (8%)
8%-$288-$3,456
Repairs & maintenance: (5%)
5%-$180-$2,160
Capital expenditures: (5%)
5%-$180-$2,160
HOA fees: (1%)
1%-$38-$456
Total operating expenses: (41%)
41%-$1,462-$17,546

Cash Flow


Monthly Yearly
Net operating income:
$1,922 $23,064
Mortgage payments:
-$3,837 -$46,044
Cash flow:
$1,915 $22,980