$485,000
Investment Summary
- Monthly Cash Flow
- -$612
- Cap Rate
- 4.6%
- Cash-on-Cash Return
- -6.6%
- Debt Coverage Ratio
- 0.75
- Internal Rate of Return (5 years)
- -2.4%
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
I said don't drop the price, but Sellers said drop it $15k! WOW! What an INCREDIBLE LAKE FRONT PROPERTY and at a GREAT DEAL! 3 Bedrooms/2Bath, 2000 SF LAKE HOUSE with SWIMMING POOL, COMPLETELY RENOVATED and SITTING on beautiful LAKE CLEARWATER! That's right! Lake Front, Pool, Completely Renovated, and much more! Be it your PRIMARY HOME, LAKE FRONT ESCAPE, or income bearing VACATION RENTAL PROPERTY, this home will meet your needs! AUTOMATIC FRONT GATE provides privacy and security and welcomes your guests into an enclosed parking and lawn area surrounded by beautiful lush plantings creating its own tranquil oasis. Plenty of parking for guests and covered carport area by front door (with pull down attic storage in carport). Inside this recently renovated lake property is a large FLEX SPACE with tremendous views of the lake, pool, and SUNRISE! Use this space as an inviting sunroom and dining room area or section a part off for a lake front office - whatever you like. Passing through this beautiful space brings you to the wonderfully upgraded kitchen with NEW QUARTZ COUNTERS, PROFESSIONALLY REFINISHED CABINETRY, NEW STAINLESS APPLIANCES, CUSTOM POLISH SEALED STONE BACKSPLASH, and open to the spacious family room. The family room is both spacious and cozy and has a fenced side patio door leading to a small garden and a good exit for any pets if needed. Two spacious guest bedrooms are on the main level with ample closet space and sharing a tastefully finished full bath. OR ... This could be transitioned into a GRAND main level primary suite utilizing one room for the bedroom and the other for a studio/office/craft room/sitting room area (and still have a guest bedroom suite upstairs). Also in this area is the laundry room for convenience and the WASHER AND DRYER ARE INCLUDED WITH THE SALE. UPSTAIRS is the PRIMARY SUITE and again with SPECTACULAR VIEWS! Lots of room and high ceilings! Large double BARN DOORS lead you into the primary bath and closet area (attic access through primary closet). New fixtures adorn this space and also enjoy the wonderful views! OUTBACK is the 14x32 SWIMMING POOL with professionally installed ALL NEW pool equipment (filter, pump/ motor, valves etc). A large pool surround and new expansive deck area provides plenty of space for sunning, grilling, and entertaining. A TRUE ENTERTAINER'S PARADISE! AN ALMOST NEW CANADIAN RED CEDAR STORAGE SHED provides extra storage for pool supplies and other outdoor activity needs. The walkway carries you past the fenced section of the yard to unfenced lakefront lawn area. Also there is the FISHING HUT to store all your lakefront needs. You also have a NEW EXTENSIVE DOCK stretching way into the lake and ideal for BOATING NEEDS and FISHING! the FISHING IS GREAT and so is the SUNRISE! Lots of WILDLIFE to watch and enjoy throughout the day! It is truly a PARADISE!! Be sure to check the PROPERTY IMPROVEMENT sheet in the document files to find out about many of the recent renovations. From new Hardy Plank siding, new HVAC, 30 year architectural shingled roof, new hot water heater and appliances, new energy efficient windows, new quartz counters, new lighting and plumbing fixtures, freshly painted outside and inside, and so much more! This home is MOVE IN READY and IMMACULATE! SERENE LOCATION! GREAT PRICE! WONDERFUL IMPROVEMENTS! INVITING POOL! PRIME FISHING AND BOATING! AND FRIENDLY NEIGHBORS! This one should not last long!
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Location
Property Details
Parking
- Description: Carport, Kitchen Level, Side/Rear Entrance
- Details: Carport, Kitchen Level
- Garage Spaces: 0
- Spaces Total: 2
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Stories: 1
- Basement Description: None
Exterior Features
- Exterior Walls Materials: Wood
- Foundation: Slab
- Roof Type: Gable
- Roof Material: Composition
- Pool: Yes
HOA
- Has HOA: Yes
- HOA Fee: $200/annually
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 125A027
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Brick 4 Side, Traditional
- Year Built: 1962
Tax Information
- Annual Tax: $516
Utilities
- Water & Sewer: Public
- Heating: Electric, Central, Heat Pump
- Cooling: Electric, Central Air
Location
- County: Coweta
Listing Details
Investment Summary
- Monthly Cash Flow
- -$612
- Cap Rate
- 4.6%
- Cash-on-Cash Return
- -6.6%
- Debt Coverage Ratio
- 0.75
- Internal Rate of Return (5 years)
- -2.4%
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:
| $485,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$388,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $97,000 |
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:
| $14,550 |
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:
| $111,550 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,985 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $244 |
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:
| $1.41 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $388,000 |
|---|---|
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:
| $2,484 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $43 |
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:
| $196 |
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:
| $2,723 |
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:
| $2,800 | $33,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$168 | -$2,016 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,632 | $31,584 |
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. | 2% | -$43 | -$516 |
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% | -$196 | -$2,352 |
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% | -$224 | -$2,688 |
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% | -$140 | -$1,680 |
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% | -$140 | -$1,680 |
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. | 1% | -$17 | -$204 |
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 | 27% | -$760 | -$9,120 |
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:
| $1,872 | $22,464 |
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. | -$2,484 | -$29,808 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$612 | -$7,344 |