$3,100,000
Investment Summary
- Monthly Cash Flow
- -$15,960
- Cap Rate
- 0.0%
- Cash-on-Cash Return
- -26.9%
- Debt Coverage Ratio
- -0.01
- Internal Rate of Return (5 years)
- -21.9%
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
It's time to reward yourself. A Modern Farmhouse masterpiece designed by Fitzpatrick Design and built by CarbonSix Builders with framing by Nugent Builders defines quality with a subtle elegance. Settled on more than 20 acres of gently rolling acreage in the Award-Winning Rockford School District, this home boasts more than 6,600 feet of finished living space in the main home with 5 bedrooms and 4.5 baths and over 1,500 square feet finished attached to the barn with a full kitchen, entertaining space and full bath. A perfect blend of expansive size with a cozy, livable feel. Chef's kitchen features high-end appliances and quartz counters throughout. Built in double ovens plus a Signature six burner stove/oven, wine chiller, Cabinet paneled Signature Refrigerator/Freezer and large walk in Butler's Pantry. Real Hickory Hardwood flooring throughout the main level. Large mudroom entry and main floor laundry off of the kitchen also includes a custom dog-wash station and private staircase to the large craft room/office/6th bedroom above the 3-stall attached, heated garage. The adjacent Primary Suite enjoys easterly and southern exposures for maximum year-round natural light. Custom, handmade sliding barn door enclosure to the Ensuite with soaking tub, separate glass/tile shower and private water closet, and, of course, a large walk-in dressing closet. The living room offers a stone fireplace with natural gas with a custom mantel and built ins. An adjacent alcove can serve as game room, reading nook, formal dining room or meditation station. A dedicated main floor office with custom built-ins could also serve as a (4th main floor) bedroom. Additionally, two large bedrooms complete the main floor with one currently supporting a home workout room. The walk-out level is highlighted by a fully equipped kitchen with center island, wine chiller, refrigerator, dishwasher, microwave/convection combo. Adjacent to the bar is a barrel/wine room for your convenience. The family room features a stone fireplace with screen above the mantel. A custom live edge, bar height built-in table defines the accompanying game room currently featuring a pool table and shuffleboard table. Also, in the lower level is a large play area, extensive storage closets and two additional bedrooms, full bath, and mechanical rooms. The barn features more than 1,500 square feet of finished living space with expansive kitchen, dining area, full bath and a lofted sitting room with fireplace. The "barn area" features 3 overhead doors (A 14' door and 2 10' doors) and over a 1000 square feet of floor area that is heated and has water and floor drains. Other features of this extraordinary property include a REME Halo LED air purification system, 4 heating zones, Hot Water Heater with recirculating pump for near instant hot water anywhere in the home. Multiple custom designed, handmade wood table & door fixtures created by local artisan. Commercial grade, standing seam metal roof with ice-rail protection system. The irrigation system features 16 zones and runs off its own dedicated well. In-line 26,000kw Generac generator for year-round piece of mind. Additional features and details available upon request. Call for a private viewing to qualified prospective purchasers.
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Location
Property Details
Parking
- Description: Detached
- Details: Garage Door Opener, Garage Faces Side, Attached, Concrete, Paved
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Total): 5.0
Interior Features
- # of Rooms: 14
- # of Stories: 2
- Basement: Yes
- Basement Description: Full, Walk-Out Access, Finished
- Fireplace: Yes
Exterior Features
- Roof Material: Metal
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 411207102002
- Lot Size: 877734 sqft
Property Information
- Property Type: Single Family Residence
- Style: Craftsman, Traditional
- Year Built: 2023
Tax Information
- Annual Tax: $24,967
Utilities
- Water & Sewer: Private, Well
- Heating: Natural Gas, Forced Air
- Cooling: Ceiling Fan(s), Central Air
Location
- County: Kent
Listing Details
Investment Summary
- Monthly Cash Flow
- -$15,960
- Cap Rate
- 0.0%
- Cash-on-Cash Return
- -26.9%
- Debt Coverage Ratio
- -0.01
- Internal Rate of Return (5 years)
- -21.9%
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:
| 6,521 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $475 |
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:
| $0.44 |
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:
| 6.625% |
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:
| $15,880 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $2,081 |
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:
| $203 |
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:
| $18,164 |
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:
| $2,900 | $34,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$174 | -$2,088 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,726 | $32,712 |
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. | 72% | -$2,081 | -$24,967 |
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% | -$203 | -$2,436 |
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% | -$232 | -$2,784 |
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% | -$145 | -$1,740 |
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% | -$145 | -$1,740 |
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 | 97% | -$2,806 | -$33,667 |
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:
| -$80 | -$960 |
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. | -$15,880 | -$190,560 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $15,960 | $191,520 |