$2,399,000
Investment Summary
- Monthly Cash Flow
- -$8,728
- Cap Rate
- 1.7%
- Cash-on-Cash Return
- -19.0%
- Debt Coverage Ratio
- 0.28
- Internal Rate of Return (5 years)
- -14.3%
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
Fall in love with this impeccably renovated 1882 East Williston Estate featuring 4 bedrooms, 4.5 baths, a fully restored barn, perfect for work, play or relaxation and a stunning heated Gunite pool all set on .70 beautifully landscaped acres blends timeless elegance with luxurious modern updates. From original woodwork and designer finishes to a gourmet kitchen to the radiant-heated floors in the primary bath, every detail has been thoughtfully curated. Entertain in style with full outdoor setup, firepit, Sonos system and more. This is a rare blend of elegance, comfort, convenience - minutes from dining, parks, and transit. Entry through the period-perfect replication of the original double oak doors leads into the gracious foyer with original staircase that features the hand-carved newel post and curved banister. The sun-flooded living room features period details such as plaster moldings and medallions, intricate in-laid mahogany & oak floors. The living room is open to the dining room, where the bay window features a window seat. Enter the heart of the home, the chef’s kitchen, which encompasses the entire rear of the house. The large and well thought out mudroom features a huge coat closet, radiant heated tile flooring, hooks for backpacks, bench seat and lots of shelving for quick access to all day-to-day necessities. The convenient side entry door is off the car park portion of the driveway giving everyone an organized start to the day. There is a beautiful breakfast room with a wall of cabinetry with wine/beverage fridge, pullout storage drawers and a wall of windows that include sliding doors to the brick patio giving you a tranquil view of the gorgeous property. The kitchen island features one (of two dishwashers), a prep sink, two beverage drawers, seating and storage. There are two ovens, warming drawer, Sub-Zero refrigerator/freezer, 5-burner gas cooktop, hood vent, glass tile backsplash, and exceptional amount of gorgeous custom wood cabinetry. Off the kitchen and tucked away is a relaxing library with gas fireplace, wall of shelving and cabinets and the door to the lower level. Additionally on this floor is a half-bath, pantry closet. The bedroom level has an extra ordinary primary suite. The expansive bedroom, easily holds a California king, seating area and dressers. There are two fitted walk-in closets and a spa-like bath with soaking tub, separate shower, toilet and two separate vanities. The additional bedrooms are nicely sized, and features include double closets, bay window, and inlaid flooring. Completing this floor is a laundry room and full bath. Up to the finished attic with a very versatile layout that could accommodate additional two bedrooms, extensive home office, or huge playroom and there is storage galore! The partially finished basement features an additional laundry room with LG washer and dryer and utilities, playroom and a suite with full bath with outside entrance and separate ductless air conditioning. The private property is a delight with a resort-like setting for relaxing. There is a brick patio, with Sonos speakers, multiple seating areas and is adjacent to the fenced, heated, Gunite 42 x 20 inground pool with brick deck. Also there is a dedicated seating area with fire pit and a renovated barn with partial kitchen, bath and second floor entertaining loft-like space that has the vibe of an Adirondack cabin in the woods. Attached to the barn in a tandem, oversized two-car garage with storage and there is an additional storage shed. Additional features include Sub-Zero & Wolf Appliances, 2 dishwashers, Schmacher & Philip Jeffries wallpaper, Dodds & Eder landscaping, radiant-heated floors, NEW HVAC systems, boiler, whole house humidifier This home has been impeccably designed and the flawless execution of the design by professional artisans is evident throughout this perfect blending of old and new.
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Location
Property Details
Parking
- Description: Private
- Details: Driveway, Garage, Garage Door Opener, Oversized, Storage, Tandem
- Garage Spaces: 3
- Spaces Total: 8
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 4
- # of Baths (Partial): 1
- # of Baths (Total): 5.0
Interior Features
- # of Rooms: 12
- # of Stories: 2
- Attic: Yes
- Basement: Yes
- Basement Description: Full, Partially Finished, Storage Space, Walk-Out Access
- Fireplace: Yes
Exterior Features
- Exterior Walls Materials: Wood
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 09565000024
- Lot Size: 30749 sqft
Property Information
- Property Type: Single Family Residence
- Style: Victorian
- Year Built: 1882
Tax Information
- Annual Tax: $32,032
Utilities
- Water & Sewer: Public
- Heating: Forced Air, Natural Gas, Radiant Floor
- Cooling: Central Air, Ductless
Location
- County: Nassau
Listing Details
Investment Summary
- Monthly Cash Flow
- -$8,728
- Cap Rate
- 1.7%
- Cash-on-Cash Return
- -19.0%
- Debt Coverage Ratio
- 0.28
- Internal Rate of Return (5 years)
- -14.3%
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:
| $2,399,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,919,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $479,800 |
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:
| $71,970 |
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:
| $551,770 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,641 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $659 |
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:
| $2.42 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,919,200 |
|---|---|
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:
| $12,131 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $2,669 |
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:
| $616 |
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:
| $15,416 |
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:
| $8,800 | $105,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$528 | -$6,336 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $8,272 | $99,264 |
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. | 30% | -$2,669 | -$32,033 |
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% | -$616 | -$7,392 |
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% | -$704 | -$8,448 |
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% | -$440 | -$5,280 |
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% | -$440 | -$5,280 |
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 | 55% | -$4,869 | -$58,433 |
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:
| $3,403 | $40,836 |
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. | -$12,131 | -$145,572 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $8,728 | $104,736 |