$9,450,000
Investment Summary
- Monthly Cash Flow
- -$48,697
- Cap Rate
- 0.1%
- Cash-on-Cash Return
- -26.9%
- Debt Coverage Ratio
- 0.02
- 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
Welcome to the Castle in the Sky—a truly unique architectural masterpiece nestled in the heart of the Hudson Valley. This extraordinary estate offers 5,000 square feet of refined interior living space and expands to over 11,000 square feet when including the outdoor living areas, covered terraces, balconies, barn, and workshop. A harmonious blend of modern sophistication and timeless elegance, this property stands as a testament to meticulous craftsmanship and enduring artistry. Perched on more than 46 private acres, this secluded retreat commands breathtaking views of Mohonk Mountain and the Catskills. The estate seamlessly integrates luxury, nature, and adventure, creating an unparalleled living experience. Inside, soaring vaulted ceilings adorned with massive timber beams—harvested directly from the land—create a warm yet majestic ambiance. Expansive windows frame stunning vistas, while wide-plank radiant-heated floors and a custom double-sided stone fireplace combine comfort with elegance. The residence features five spacious bedrooms and four and a half luxurious bathrooms, all showcasing impeccable craftsmanship. The two-story great room, a sophisticated dining area with bay window views, and a gourmet kitchen designed for entertaining highlight the home's exceptional character. Adding to its uniqueness, two enchanting castle turrets house spiral staircases leading to elevated observation decks, offering panoramic views of the Hudson Valley. A 200-foot illuminated underground bluestone tunnel connects the main residence to a separate 4,000-square-foot barn. Fully equipped with electricity, water, and radiant heat, the barn offers limitless possibilities—whether for showcasing high-end collector cars, establishing a tranquil yoga studio, or creating your dream space. The estate's thoughtful design extends to its enchanting outdoor living areas. Each covered terrace and balcony incorporates advanced water-capturing and rerouting systems, ensuring dry and comfortable spaces year-round. Sliding doors lead to an expansive bluestone terrace featuring a heated Diamond Bright Gunite pool and a luxurious outdoor kitchen—ideal for entertaining or relaxing. Nearby, a bluestone spa and a man-made pond designed for swimming and fishing enhance this private sanctuary's allure. Originally built in 1994, this estate is the culmination of over a decade of intentional design and expert craftsmanship. Every element—from its stately façade to its serene surroundings—reflects an unwavering commitment to excellence. The Castle in the Sky is more than a home—it's a legacy, a lifestyle, and an invitation to live surrounded by elegance, tranquility, and wonder.
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Location
Property Details
Parking
- Description: Garage
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Partial): 1
- # of Baths (Total): 5.0
Interior Features
- # of Rooms: 13
- # of Stories: 1
- Basement: Yes
- Basement Description: Finished
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Rock, Stone
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Rural/Agricultural
Lot Information
- Parcel ID: 51340046.4214.111
- Lot Size: 2025540 sqft
Property Information
- Property Type: Single Family Residence
- Style: Estate, Mini Estate, Other
- Year Built: 1994
Tax Information
- Annual Tax: $26,126
Utilities
- Water & Sewer: Public, Private, Well
- Heating: Baseboard, Oil, Radiant, Radiant Floor, Other
- Cooling: Central Air
Location
- County: Ulster
Listing Details
Investment Summary
- Monthly Cash Flow
- -$48,697
- Cap Rate
- 0.1%
- Cash-on-Cash Return
- -26.9%
- Debt Coverage Ratio
- 0.02
- 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:
| $9,450,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$7,560,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $1,890,000 |
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:
| $283,500 |
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:
| $2,173,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 5,000 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,890 |
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:
| $0.86 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $7,560,000 |
|---|---|
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:
| 6.840% |
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:
| $49,487 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $2,177 |
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:
| $301 |
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:
| $51,965 |
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:
| $4,300 | $51,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$258 | -$3,096 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,042 | $48,504 |
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. | 51% | -$2,177 | -$26,127 |
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% | -$301 | -$3,612 |
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% | -$344 | -$4,128 |
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% | -$215 | -$2,580 |
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% | -$215 | -$2,580 |
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 | 76% | -$3,252 | -$39,027 |
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:
| $790 | $9,480 |
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. | -$49,487 | -$593,844 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $48,697 | $584,364 |