$3,990,000
Investment Summary
We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$13,431
- Cap Rate
- 1.6%
- Cash-on-Cash Return
- -17.6%
- Debt Coverage Ratio
- 0.29
- Internal Rate of Return (5 years)
- -13.0%
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
Breathtaking Contemporary Masterpiece with Panoramic Coastal Views. Experience the ultimate in modern coastal living in this stunning Contemporary home designed by renowned architect John Parker and maintained by top builder Konrady and Sons. Flooded with natural light and offering panoramic views of the ocean, Inlet, and Intracoastal Waterways, this one-of-a-kind property has been featured in Salt Magazine, Wrightsville Beach Magazine, and showcased on the Modern Architecture Tour. Meticulously custom-designed, this 5-bedroom, 5.5-bath home boasts a reverse floor plan to maximize the jaw-dropping water views from every window and deck. Each room is a testament to minimalist elegance, with spacious closets and built-ins seamlessly blending form and function. A striking glass elevator leads to a grand living room featuring soaring cathedral ceilings—a perfect setting for both intimate gatherings and large-scale entertaining. Throughout the home, exquisite White Oak hardwood floors complement the California-chic open layout. The top-floor loft, ideal for a home gym, office, or second living area, includes a sleek Murphy bed and the innovative Raydoor sliding wall system, adding versatility to this already remarkable space. Outdoor living is elevated to an art form with multiple decks, both covered and sun-soaked, offering the perfect vantage points to enjoy the spectacular coastal vistas. The fully enclosed garage provides ample storage for paddleboards, kayaks, surfboards, and more, along with abundant parking. A mudroom, covered outdoor shower, and convenient boardwalk pathways complete the functional yet luxurious outdoor spaces. Relax in your heated saltwater swimming pool or unwind in the hot tub, all while listening to the sounds of the ocean from your own slice of paradise on Wrightsville Beach's coveted south end. This home is not only beautiful but also eco-conscious, equipped with solar panels, an electric car charger, Armor Shield window protection, remote control shades, Anderson sun-shield windows, and a water softener system every detail carefully considered to enhance both efficiency and comfort. Every inch of this remarkable residence has been thoughtfully designed to provide an unparalleled living experience. Don't miss the opportunity to own one of Wrightsville Beach's most iconic homes.
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Location
Property Details
Parking
- Description: On Site, Paved
- Details: On Site, Paved
- Garage Spaces: 3
- Spaces Total: 3
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Partial): 1
- # of Baths (Total): 6.0
Interior Features
- # of Rooms: 13
- # of Stories: 4
Exterior Features
- Exterior Walls Materials: Wood
- Foundation: Other
- Solar Panels: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: R06806004006000
- Lot Size: 7405 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 2015
Tax Information
- Annual Tax: $0
Utilities
- Heating: Active Solar, Electric, Forced Air, Heat Pump, Solar
- Cooling: Ceiling Fan(s), Central Air
Location
- County: New Hanover
Listing Details
Investment Summary
We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.
- Monthly Cash Flow
- -$13,431
- Cap Rate
- 1.6%
- Cash-on-Cash Return
- -17.6%
- Debt Coverage Ratio
- 0.29
- Internal Rate of Return (5 years)
- -13.0%
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:
| $3,990,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$3,192,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $798,000 |
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:
| $119,700 |
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:
| $917,700 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,800 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $831 |
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:
| $1.65 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $3,192,000 |
|---|---|
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:
| $18,882 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $0 |
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:
| $553 |
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:
| $19,435 |
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:
| $7,900 | $94,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$474 | -$5,688 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $7,426 | $89,112 |
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.
We noticed that property taxes are missing—these are standard expenses and should be considered in your estimate. | n/a | n/a | n/a |
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% | -$553 | -$6,636 |
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% | -$632 | -$7,584 |
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% | -$395 | -$4,740 |
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% | -$395 | -$4,740 |
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 | 25% | -$1,975 | -$23,700 |
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:
| $5,451 | $65,412 |
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. | -$18,882 | -$226,584 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $13,431 | $161,172 |