$1,748,000
Investment Summary
- Monthly Cash Flow
- -$5,189
- Cap Rate
- 2.5%
- Cash-on-Cash Return
- -15.5%
- Debt Coverage Ratio
- 0.41
- Internal Rate of Return (5 years)
- -11.0%
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
Recent Price Improvement! This home is full of unexpected surprises – A must-see in person to truly appreciate the updates throughout, bright & sunny interior, spacious floorplan, and craftsmanship. Old Canterbury stunning sprawling home. Welcome to this exceptional residence, the epitome of luxury living. This expansive home features four generously sized bedrooms, each with its own bath, plus three additional half baths for added convenience. As you enter, you are greeted by a grand foyer and a breathtaking bridal staircase, setting the tone for the elegance that unfolds throughout. The first floor is awash with natural light, pouring through oversized windows and creating a warm, inviting ambiance. The formal living room, with its charming wood-burning fireplace, provides a cozy retreat, while the formal dining room offers the perfect space for hosting memorable gatherings. Culinary enthusiasts and entertainers will fall in love with the spacious, bright kitchen, showcasing pristine white finishes and top-of-the-line stainless-steel appliances, including a Sub-Zero refrigerator, Wolf double wall oven, 6-burner Wolf stove, and 2 Miele dishwashers. A delightful breakfast area completes this kitchen. The sun-filled den offers a peaceful spot to unwind, featuring a cozy fireplace that adds warmth and character. The adjoining dining area flows seamlessly to the backyard through sliding doors, perfect for effortless outdoor living and entertaining. A conveniently located powder room enhances the first-floor layout. Additionally, the first floor includes an en-suite bedroom and a private office, ensuring comfort and convenience at every turn. On the second floor, the spacious and private primary en-suite offers the ultimate sanctuary, designed for both relaxation and ease. It boasts a generously sized walk-in closet with a stackable washer and dryer, while the newly updated spa-like primary bath features a luxurious soaking tub, a rejuvenating 2-person walk-in shower, and elegant double vanities. An additional large en-suite bedroom, a fourth bedroom, and a beautifully appointed hall guest bathroom complete the upper level. The finished basement provides a world of possibilities, featuring a chic recreation area, a wine cellar for connoisseurs, a gym, a convenient laundry room, and an additional bath. Step outside to your private, fully fenced yard, featuring a heated gunite in-ground saltwater pool – perfect for year-round enjoyment. Relax by the firepit or practice your putting skills on the lush putting green. The space is completed with a convenient pool bathroom, accessible through an outside entrance, offering ease and privacy. This tranquil oasis is ideal for both peaceful relaxation and entertaining guests. Don’t miss the chance to make this serene backyard retreat your own!
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Location
Property Details
Parking
- Description: Private, Attached, 2 Car Attached
- Details: Driveway, Garage, Garage Door Opener, Private, Storage
- Garage Spaces: 2
- Spaces Total: 4
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Partial): 3
- # of Baths (Total): 7.0
Interior Features
- # of Rooms: 10
- # of Stories: 1
- Basement: Yes
- Basement Description: Finished, Full, Storage Space
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Masonry
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 36335000543
- Lot Size: 9700 sqft
Property Information
- Property Type: Single Family Residence
- Style: Colonial
- Year Built: 1952
Tax Information
- Annual Tax: $38,166
Utilities
- Water & Sewer: Public
- Heating: Baseboard, Hot Water, Natural Gas
- Cooling: Central Air, Ductless
Location
- County: Nassau
Listing Details
Investment Summary
- Monthly Cash Flow
- -$5,189
- Cap Rate
- 2.5%
- Cash-on-Cash Return
- -15.5%
- Debt Coverage Ratio
- 0.41
- Internal Rate of Return (5 years)
- -11.0%
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:
| $1,748,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,398,400 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $349,600 |
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:
| $52,440 |
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:
| $402,040 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 4,480 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $390 |
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:
| $2.21 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,398,400 |
|---|---|
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:
| $8,839 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $3,181 |
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:
| $693 |
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:
| $12,713 |
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:
| $9,900 | $118,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$594 | -$7,128 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $9,306 | $111,672 |
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. | 32% | -$3,181 | -$38,166 |
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% | -$693 | -$8,316 |
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% | -$792 | -$9,504 |
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% | -$495 | -$5,940 |
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% | -$495 | -$5,940 |
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 | 57% | -$5,656 | -$67,866 |
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:
| $3,650 | $43,800 |
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. | -$8,839 | -$106,068 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $5,189 | $62,268 |