$1,750,000
Investment Summary
- Monthly Cash Flow
- -$2,809
- Cap Rate
- 4.1%
- Cash-on-Cash Return
- -8.4%
- Debt Coverage Ratio
- 0.68
- Internal Rate of Return (5 years)
- -4.1%
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
Experience the pinnacle of Bronx luxury at 1903 Tomlinson Avenue, an exquisite one-family brick located at a prime location in Morris Park. Timelessly elegant, this home features a vivacious garden and vibrant exterior, making this home truly stand out. 1903 Tomlinson is a new construction, with 4 bedrooms and 6 bathrooms, as well as thoughtful design creating a sanctuary of comfort and style. Step through stately double-doors that immediately transport you to a sunlit foyer. White marble floors accentuate the refined coffered ceilings of the first floor. The living room is open and inviting, with plenty of space for lovers of interior design. The living room also comes with a fireplace and access to the backyard patio. Enjoy the privacy of your home with the building’s exceptional sound insulation and high-quality Andersen casement windows. The first floor is equipped with a modern floor heating system, allowing for comfortable interior temperatur. Across from the living room is the open-concept kitchen and dining area. This kitchen is every family’s dream, fully equipped with high-end stainless-steel appliances and shining granite countertops. You have everything you could need with abundant cabinets and walk-in pantry. Nothing goes to waste, as a contemporary-style kitchen island completes the room. Take care not to overlook the gorgeous stone dining table, perfect for large family gatherings and house parties. A half bathroom is just off the kitchen, great for your convenience and privacy. Each area of this house is carefully curated, from the leather-upholstered seats in the dining area to the delicate dangling chandeliers lighting up your new life at this home. The focal point of this level is the grand staircase, with a dazzling chandelier adding an extra touch of splendor to the main area. The second floor features two large bedrooms on either side of the hallway. Each of these bedrooms feature sleek dark hardwood floors, walk-in closets, and en-suite bathrooms. The first bedroom has 400 square feet of space, with great acoustics and natural lighting. This room includes a balcony overlooking the street. Its bathroom is marble, with a separate shower and whirlpool bathtub. The master bedroom on the opposite side of the house is equally impressive, commanding about 600 square feet of space, including two balconies and a large walk-in closet. Transform the bathroom into your personal spa with its sophisticated sauna system. The bathroom also features its own separate shower and bathroom jacuzzi. The third level of this home has two additional bedrooms, perfect for larger families or guests staying over. This level has its own balcony and two large rooms with private bathrooms and large closets for storage. Dormer windows allow sunlight to stream into both of these rooms, the central heating and cooling system! Coming back down to the first floor, stairs near the dining area can be used to access the full basement, adding an extra 1500 square feet of space to the home. This basement is perfect for a recreational space, a home movie theater, or a home gym! With upscale marble flooring and designated laundry room, the basement is versatile and practical. The full bathroom in the basement includes sauna functions, giving families even more space to spread out and enjoy this home. This level also comes with lots of additional storage space and great sound insulation. The home’s backyard makes for a posh outdoor lounging area, featuring a high-end outdoor kitchen and barbecue, as well as access to the large two-car garage. The home is located in a safe, lively area of Morris Park, close to parks, commercial buildings, and restaurants, literally putting convenience at your doorstep. Make 1903 Tomlinson your own, and start living the luxury life you deserve. Call for a private tour before it’s gone!
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Location
Property Details
Parking
- Description: Driveway, Garage, Garage Door Opener, Heated Garage, Off Street
- Garage Spaces: 2
- Spaces Total: 5
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 5
- # of Baths (Partial): 1
- # of Baths (Total): 6.0
Interior Features
- # of Rooms: 11
- Basement: Yes
- Basement Description: Finished, Full
- Fireplace: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 042720033
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Style: Colonial
- Year Built: 2012
Tax Information
- Annual Tax: $10,316
Utilities
- Water & Sewer: Public
- Heating: ENERGY STAR Qualified Equipment, Hot Water, Natural Gas
- Cooling: Central Air
Location
- County: Bronx
Listing Details
Investment Summary
- Monthly Cash Flow
- -$2,809
- Cap Rate
- 4.1%
- Cash-on-Cash Return
- -8.4%
- Debt Coverage Ratio
- 0.68
- Internal Rate of Return (5 years)
- -4.1%
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:
| $1,750,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,400,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $350,000 |
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:
| $52,500 |
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:
| $402,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 5,500 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $318 |
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:
| $1.82 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,400,000 |
|---|---|
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:
| $8,849 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $860 |
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:
| $700 |
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:
| $10,409 |
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:
| $10,000 | $120,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$600 | -$7,200 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $9,400 | $112,800 |
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. | 9% | -$860 | -$10,316 |
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% | -$700 | -$8,400 |
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% | -$800 | -$9,600 |
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% | -$500 | -$6,000 |
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% | -$500 | -$6,000 |
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 | 34% | -$3,360 | -$40,316 |
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:
| $6,040 | $72,480 |
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. | -$8,849 | -$106,188 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $2,809 | $33,708 |