$1,097,000
Investment Summary
- Monthly Cash Flow
- -$2,588
- Cap Rate
- 2.8%
- Cash-on-Cash Return
- -12.3%
- Debt Coverage Ratio
- 0.50
- Internal Rate of Return (5 years)
- -7.9%
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
Mediterranean Masterpiece with Timeless Elegance & Modern Upgrades. Welcome to this stunning, Mediterranean-style retreat, thoughtfully and completely remodeled in 2021. This estate seamlessly blends timeless elegance with modern luxury, offering high-end finishes, smart home technology, and a serene resort-like ambiance while exuding warmth and sophistication. Nestled behind a 10'bamboo hedge just outside the prestigious Oak Alley subdivision on ''The Island'' in Gulfport, this home offers unparalleled privacy while being just minutes from fine dining, the casinos, entertainment, the beach, and more. The gourmet kitchen showcases custom Pecky Cypress cabinets, painted in a rich blue-green, a brand-new built-in Liebherr refrigerator, new stainless steel Sub-Zero freezer stack in the butler's pantry, new Bosch dishwasher, and Brazilian marble countertops and backsplash. Throughout the home, heart pine floors have been sanded and stained to perfection, complementing the exposed beams in the great room and dining room, while the arched entryways compliment the villa-esque theme of the property. The master bath is a true sanctuary, featuring a marble steam shower, luxurious cast iron clawfoot tub, floor-to-ceiling Mediterranean-style tile, and Brazilian marble throughout, while all bathrooms have been updated with period-correct tile. The home boasts new recessed lighting and designer fixtures, a state-of-the-art ''Brilliant'' Smart Home system, full house wi-fi with ''beacons'' for complete property coverage, smart thermostats, and a surround sound system extending through both living spaces, the gym, patios, and the entire upstairs level as well. Outside, a gated courtyard with a majestic oak tree, multiple newly tiled porches and balconies, refinished tongue and groove wood ceiling, a private outdoor shower, and a brand-new second-floor awning create an idyllic setting. A custom-built shed (2021) with full electrical wiring offers additional storage, while the circular driveway, framed by ivy-covered brick walls, leads to a two-car garage. Additionally, a two-car carport and extra parking via a rear easement give ample space for cars, boats, or other recreational vehicles. To the rear of the property is a spacious, private fitness room, complete with all the elements of a professional gym. The guest suite with separate entrance has been fully remodeled with new heart pine floors and an upgraded bath, while the laundry and mudroom feature added storage and granite countertops with custom tile backsplash. With a new roof (2024), instant hot water system, updated security system (2021), and custom window blinds (2021), this home is both modern and meticulously maintained. Every detail, from the smart home automation to the hidden storage room behind a bookshelf, has been carefully curated to offer a luxurious yet functional living experience. If you're searching for a home that feels like a permanent vacation, this unique Mediterranean sanctuary is waiting for you. 467 sf gym and 266 sf guest quarters not included in main living area of 3,641 sf. Property contains nearly 4,400 sf total heated and cooled living area. Seller willing to sell most of the home's furnishings and gym equipment as well. Ask for list and pricing if interested. Owner/Agent Schedule your private tour today! Call today to request the 3D Virtual Tour Link to virtually walk through this home.
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Location
Property Details
Parking
- Description: Carport, Garage, Guest
- Details: Carport, Driveway, Garage Door Opener, Garage Faces Side, Storage, Concrete
- Garage Spaces: 2
- Spaces Total: 4
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Partial): 1
- # of Baths (Total): 5.0
Interior Features
- Fireplace: Yes
Exterior Features
- Foundation: Slab
- Roof Type: Hip
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 1009L03046.000
- Lot Size: 18730 sqft
Property Information
- Property Type: Single Family Residence
- Style: Mediterranean/Spanish
- Year Built: 2010
Tax Information
- Annual Tax: $5,192
Utilities
- Water & Sewer: Public
- Heating: Central, Ductless, Fireplace(s), Forced Air, Propane
- Cooling: Ceiling Fan(s), Central Air, Ductless, Electric, Zoned, Multi Units
Location
- County: Harrison
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,588
- Cap Rate
- 2.8%
- Cash-on-Cash Return
- -12.3%
- Debt Coverage Ratio
- 0.50
- Internal Rate of Return (5 years)
- -7.9%
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:
| $1,097,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$877,600 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $219,400 |
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:
| $32,910 |
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:
| $252,310 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 0 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| n/a |
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:
| n/a |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $877,600 |
|---|---|
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:
| $5,191 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $433 |
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:
| $308 |
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:
| $5,932 |
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:
| $4,400 | $52,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$264 | -$3,168 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,136 | $49,632 |
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% | -$433 | -$5,192 |
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% | -$308 | -$3,696 |
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% | -$352 | -$4,224 |
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% | -$220 | -$2,640 |
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% | -$220 | -$2,640 |
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% | -$1,533 | -$18,392 |
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:
| $2,603 | $31,236 |
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. | -$5,191 | -$62,292 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $2,588 | $31,056 |