$1,900,000
Investment Summary
- Monthly Cash Flow
- -$9,110
- Cap Rate
- 0.3%
- Cash-on-Cash Return
- -25.0%
- Debt Coverage Ratio
- 0.05
- Internal Rate of Return (5 years)
- -20.1%
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
This remarkable estate offers an unparalleled blend of private country living and lucrative business potential! Set on 8 exceptionally landscaped acres, this turn-key estate has operated for 15 years as a successful wedding and event venue—known as Mystical Rose Gardens—and is ready for its next chapter. At the heart of the estate is a sprawling, light-filled event hall with captivating features such as the soaring ceilings, beautiful brick floors, a stunning water feature, seating for up to 275 guests, dedicated space for a head table with ramp access, and a generous dance floor. It also includes a full-service bar with 5 taps, POS system, walk-in cooler, a 10x12 shed for extra storage, and ample parking space. A liquor license is already in place, making it ready to serve guests with ease. Outside, guests are greeted by lush gardens, serene fountains, a covered patio with additional seating, an open-air ceremony space with a gorgeous octagon gazebo, and a large irrigated lawn—perfect for seamless indoor-outdoor events. An expansive retreat building provides added versatility, featuring a full kitchen with new appliances, a spacious living area with a wood-burning stove, four bathrooms with in-floor heat, and plenty of space perfect for getting ready, including a finished upper-level loft. It’s ideal for weddings, parties, retreats, and more. Thoughtful storage solutions provide convenience with a 23x29 storage space attached to this building featuring a 12ft door, plus an additional 26x26 fully insulated and heated outbuilding offering new steel inside and out, and a powerful propane generator capable of running the entire property. The main residence completes the estate with an open, sunlit layout, a beautiful stone fireplace in the living room, and a spacious sunroom with floor-to-ceiling windows framing peaceful views of the surrounding landscape. The kitchen features a center island, ample cabinet and counter space, and a dining area perfect for everyday meals or entertaining. Enjoy comfort for all with four spacious bedrooms, including a private owner’s suite with a walk-in closet and an ensuite bath offering a jetted tub and walk-in shower. Versatile and functional spaces include a dedicated office/library, main level laundry off the generous mudroom, an insulated 2-car garage, and a spacious lower level ready for your custom touch—plus ample storage throughout. Outside, the home is surrounded by beautifully landscaped gardens and multiple spaces to enjoy the outdoors, including an expansive covered front porch, a large deck, a spacious patio, and a charming swing set nestled in the yard—offering the perfect blend of privacy, recreation, and relaxation. With multiple outbuildings, extensive infrastructure including 7 hydrants and 10 water access points, dedicated event parking, and room to expand, this is a one-of-a-kind estate and business opportunity! Whether you continue the venue business or create something entirely new, the possibilities here are endless. Don’t miss the rare opportunity to make it yours!
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Location
Property Details
Parking
- Details: Gravel, Parking Lot, Covered, Garage Door Opener, Heated Garage, RV Access/Parking, Storage, Garage
- Garage Spaces: 6
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 1
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 12
- # of Stories: 2
- Basement: Yes
- Basement Description: Full, Storage Space, Sump Pump, Unfinished, Concrete
- Fireplace: Yes
Exterior Features
- Roof Material: Metal, Asphalt, Shingle
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0181003320
- Lot Size: 348480 sqft
Property Information
- Property Type: Single Family Residence
- Style: (SF) Single Family
- Year Built: 1993
Tax Information
- Annual Tax: $5,628
Utilities
- Water & Sewer: Well
- Heating: Forced Air, Wood Stove, Radiant Floor
- Cooling: Central Air
Location
- County: Pierce
Listing Details
Investment Summary
- Monthly Cash Flow
- -$9,110
- Cap Rate
- 0.3%
- Cash-on-Cash Return
- -25.0%
- Debt Coverage Ratio
- 0.05
- Internal Rate of Return (5 years)
- -20.1%
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:
| $1,900,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,520,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $380,000 |
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:
| $57,000 |
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:
| $437,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 2,842 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $669 |
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:
| $0.49 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,520,000 |
|---|---|
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:
| 6.500% |
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:
| $9,607 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $469 |
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:
| $98 |
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:
| $10,174 |
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:
| $1,400 | $16,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$84 | -$1,008 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $1,316 | $15,792 |
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. | 34% | -$469 | -$5,628 |
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% | -$98 | -$1,176 |
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% | -$112 | -$1,344 |
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% | -$70 | -$840 |
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% | -$70 | -$840 |
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 | 59% | -$819 | -$9,828 |
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:
| $497 | $5,964 |
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. | -$9,607 | -$115,284 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$9,110 | -$109,320 |