$4,795,000
Investment Summary
- Monthly Cash Flow
- -$21,004
- Cap Rate
- 0.4%
- Cash-on-Cash Return
- -22.9%
- Debt Coverage Ratio
- 0.07
- Internal Rate of Return (5 years)
- -18.1%
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
Step into luxury in this custom built (06) estate nestled on almost 2 gated acres along the historic Ridge Road. With over 11,000 square feet, this meticulously crafted home boasts 6 bedrooms and 8.3 bathrooms, designed both for grand entertaining and comfortable family living. It features graciously scaled rooms with incredible architectural detail, soaring ceilings, elaborate moldings, exquisite millwork, wide-plank walnut and mahogany flooring and 8 fireplaces. As you enter, a light filled center hall introduces the extraordinary craftsmanship and attention to detail evident throughout the entire home, creating an inviting and elegant ambiance. Off the foyer, the formal dining room is ideal for hosting large dinner parties and family celebrations. Embraced by plaster moldings, this room features exquisite floor to ceiling windows, gas fireplace and a crystal chandelier and sconces. A pair of hidden doors lead to a beautifully appointed butler's pantry with full size wine refrigerator, beverage and freezer drawers. The stunning DeGiulio-designed kitchen showcases furniture-quality cabinetry, ample storage and prep space, top-of-the-line appliances, a massive center island, onyx counters, huge pantry and a spacious breakfast room with views of the private backyard. The adjacent family room boasts a limestone fireplace, extensive millwork, coffered ceilings, tall windows and French doors leadings to an inviting screened porch with a cozy outdoor fireplace. The first-floor owner's wing is a luxurious retreat, complete with two fireplaces, his and hers luxury baths, a beautiful dressing room, and a private sitting room with a discrete wet bar. A hidden fully integrated door connects to a formal living room adorned with rich millwork, a beautiful chandelier and another gorgeous fireplace. An ante room leads to an executive-size library with richly paneled walnut walls, exquisite built-ins and a handsome fireplace. An elegant open staircase, illuminated by an architectural skylight, links all three levels. The second floor boasts four beautifully appointed bedrooms with en-suite baths, mahogany floors, and walk-in closets. Two suites feature private decks with stunning views. The exceptional lower level maintains the high quality of the home, offering a second family room with a fireplace, game rooms, a movie theater, a workout room with a spa-like bath, a bedroom suite, a catering kitchen, and a wine room. Natural light floods this space through oversized window wells with exposed brick. This home also offers three butlers/ service pantries and three laundry rooms, one on each level, for added convenience. Outside, the property presents a beautiful and private setting, featuring a gated entry with a striking brick and limestone garden wall, stunning landscaping, stone terraces and two one-of-a-kind pool changing rooms original to the Robert P. Lamont's former estate. Additionally, a spacious front courtyard provides ample parking for guests. Other highlights include striking brick and limestone exterior, Vermont slate roof, crushed granite driveway, landscape lighting, irrigation system, backup generator, security and speaker systems and a 4-car heated garage. This home is a testament to quality and value, offering an exceptional living and a prime location. Floorplans available upon request.
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Location
Property Details
Parking
- Description: Garage
- Details: Garage Door Opener, Attached
- Garage Spaces: 4
- Spaces Total: 4
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 8
- # of Baths (Partial): 3
- # of Baths (Total): 11.0
Interior Features
- # of Rooms: 16
- # of Stories: 2
- Basement Description: Sump Pump, Finished, Full
Exterior Features
- Exterior Walls Materials: Brick
- Foundation: Concrete Perimeter
- Roof Material: Slate
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 1608201007
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Georgian
- Year Built: 2006
Tax Information
- Annual Tax: $45,173
Utilities
- Heating: Natural Gas, Forced Air
- Cooling: Ceiling Fan(s), Central Air
Location
- County: Lake
Listing Details
Investment Summary
- Monthly Cash Flow
- -$21,004
- Cap Rate
- 0.4%
- Cash-on-Cash Return
- -22.9%
- Debt Coverage Ratio
- 0.07
- Internal Rate of Return (5 years)
- -18.1%
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:
| $4,795,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$3,836,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $959,000 |
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:
| $143,850 |
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:
| $1,102,850 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 7,053 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $680 |
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:
| $1.12 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $3,836,000 |
|---|---|
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:
| $22,691 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $3,764 |
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:
| $27,008 |
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. | 48% | -$3,764 | -$45,173 |
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 | 73% | -$5,739 | -$68,873 |
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:
| $1,687 | $20,244 |
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. | -$22,691 | -$272,292 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $21,004 | $252,048 |