$999,900
Investment Summary
- Monthly Cash Flow
- -$2,228
- Cap Rate
- 3.6%
- Cash-on-Cash Return
- -11.6%
- Debt Coverage Ratio
- 0.57
- Internal Rate of Return (5 years)
- -7.3%
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
If watching the deep hue of a lake, listening to the wind dance as it ruffles the water or sitting on your boat taking in every stress free moment it offers, 923 Pine Circle, located in desirable Victoria Cottages, is a must see. Its a place where golf carts are a mode of transportation and lake front sunsets are just steps away,...you may have found your dream home. This rustic but modern chic renovated (2024) log home is inviting with a rocking chair front porch that overlooks Lake Allatoona. In addition the side porch gives a second area for family & guests to sit and reminisce good times. A new deck just out side the dining area is surrounded by a privacy fence and offers space for entertaining or a quiet evening at home. The kitchen window offers a view of the lake, new stainless steel appliances, quartz countertops, bar seating, oversized sink and gas stove. The great room includes a cozy fireside seating area in front of the hand-built oversized stone fireplace. A convenient guest bath is located just off of the family room. The vast master bedroom has space for a sitting area, office space or craft area. If your dream master means "no work" you are in luck as there is a small additional room off of the master that exits to the attached garage that is perfect for an Office or Craft Room. The Master Suite includes a completely renovated full bath with walk in tiled double shower, double vanity, linen & water closets. The attached two car garage also has a good place if a ramp is needed, storage space and two entrances (office/craft room & side porch). Upstairs are three very good sized bedrooms, two with elevated ceilings You will also find a full bath with tub/shower combo on the second floor. . Is boating/fishing in your future? This beautiful home includes a detached 900 sq ft Boat Storage & Workshop, equipped with a roll-up boat door. All new lighting through out the home, garage and detached boat/workshop. Your new home comes with your personally owned boat dock that is just a 5 min stroll away. You will own the dock and the dock permit is very affordable at $175./every 5 years. If you are wanting "activity centered" living, there are optional memberships available at the Victoria Civic Club which offers Pot-Lucks, Poker-Runs, Corn-Holes tosses, Holiday Gatherings and other fun neighborhood activities.
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Location
Property Details
Parking
- Description: Attached, Garage, Garage Door Opener, Guest, Kitchen Level, RV/Boat Parking, Side/Rear Entrance, Storage
- Details: Attached, Garage, Garage Door Opener, Guest, Kitchen Level, Storage, Boat
- Garage Spaces: 6
- Spaces Total: 6
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Partial): 1
- # of Baths (Total): 0.0
Interior Features
- # of Stories: 1
- Basement Description: Crawl Space
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood Shingle
- Foundation: Pillar/Post/Pier
- Roof Type: Gable
- Roof Material: Metal
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 21N10AI236
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Country/Rustic
- Year Built: 1985
Tax Information
- Annual Tax: $6,324
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Ceiling Fan(s), Central Air
Location
- County: Cherokee
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,228
- Cap Rate
- 3.6%
- Cash-on-Cash Return
- -11.6%
- Debt Coverage Ratio
- 0.57
- Internal Rate of Return (5 years)
- -7.3%
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:
| $999,900 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$799,920 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $199,980 |
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:
| $29,997 |
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:
| $229,977 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,690 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $372 |
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:
| $1.90 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $799,920 |
|---|---|
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:
| 6.810% |
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:
| $5,220 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $527 |
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:
| $357 |
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:
| $6,104 |
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:
| $5,100 | $61,200 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$306 | -$3,672 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,794 | $57,528 |
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. | 10% | -$527 | -$6,324 |
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% | -$357 | -$4,284 |
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% | -$408 | -$4,896 |
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% | -$255 | -$3,060 |
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% | -$255 | -$3,060 |
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 | 35% | -$1,802 | -$21,624 |
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:
| $2,992 | $35,904 |
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. | -$5,220 | -$62,640 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $2,228 | $26,736 |