$480,000
Investment Summary
- Monthly Cash Flow
- -$1,448
- Cap Rate
- 2.1%
- Cash-on-Cash Return
- -15.7%
- Debt Coverage Ratio
- 0.36
- Internal Rate of Return (5 years)
- -11.2%
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
THE BEACH LIFE IS WHERE IT'S AT ! BEAUTIFULLY UPDATED BEACHFRONT CONDO. This END UNIT is VERY SPACIOUS, AND IT FEATURES : OPEN LIVING FLOOR PLAN with WATER RESISTANT LUXURY VINYL PLANK (GUN STOCK STYLE) FLOORING /TILE FLOORING IN WET AREAS AND FOYER (NO CARPET), WET BAR WITH UNDER CABINET LIGHTING. BEAUTIFUL SUBWAY TILE BACKSPLASH IN KITCHEN AND AT THE WET BAR, CROWN MOLDING IN LIVING AREA, SPACIOUS KITCHEN WITH ISLAND FOR ADDITIONAL STORAGE, GRANITE COUNTERTOPS THROUGHOUT, NICE SIZED PANTRY. AND STAINLESS APPLIANCES,((HVAC IS ONLY 5 YEARS OLD )), ((DISPOSAL IS BRAND NEW )). The Laundry closet is located near the kitchen. THIS unit FEATURES A SPLIT BEDROOM PLAN. THE BEDROOMS ARE VERY SPACIOUS. THERE IS 2 MASTER BEDROOMS WITH MASTER EN-SUITE BATHROOMS , the Main master bathroom includes: Soaker tub, walk-in shower, double vanity, and walk-in closet. The THIRD BEDROOM SHARES A FULL BATHROOM WITH GUESTS WITH HALL AND BEDROOM ACCESS. THE KITCHEN, LIVING ROOM AND MAIN MASTER BEDROOM HAVE SLIDING DOORS THAT OPEN UP TO NICE SIZED COVERED BALCONIES OVERLOOKING THE BEAUTIFUL SANDY BEACH for AMAZING VIEWS. TOWER 1 is the only tower that features EXTERIOR STORAGE CLOSET FOR EXTRA STORAGE SPACE FOR ICE CHESTS , FISHING POLES, AND YOUR BEACH GEAR . Sellers have an electric efficiency box which seller states has saved them money off of their electric bill. ((THIS UNIT IS NOT A RENTAL)) .There is additional car/toy parking/storage located in the BACK LOT that can be rented for an additional fee. FOR INVESTORS ,THIS UNIT CAN BE RENTED WITH A 2 DAY MINIMUM RENTAL policy. STAY WHEN YOU LIKE/ RENT WHEN YOU WANT. THE LEGACY CONDOMINIUM AMENITIES INCLUDE : 2 -OUTDOOR POOLS, 1- INDOOR HEATED POOL, HOT TUB, SAUNAS, SHOWERS, FITNESS CENTER, 2 CLUB ROOMS, MOVIE THEATER, INDOOR KITCHEN, AND 6 -HOLE PUTTING GREEN. OWNERS HAVE ACCESS TO ALL AMENITIES IN BOTH TOWERS. This is a gated community with 24 hour security guard. THE HOA fee includes: Water/Sewer/ Trash, internet, maintenance of common areas / amenities, insurance from the exterior to the stud. Grounds upkeep, 24-hour gated security. THIS UNIT IS SOLD PARTIALLY FURNISHED. JUST A SHORT WALK TO THE BEACH , AND IT'S CENTRALLY LOCATED TO CASINO ROW, KEESLER AIR FORCE BASE, EDGEWATER MALL, ENTERTAINMENT, AND I10. DISCLAIMER: THIS UNIT HAS BEEN VIRTUALLY STAGED FOR BUYERS DESIGN IDEAS ONLY.
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Location
Property Details
Parking
- Description: Guest, On Site
- Details: Lighted, On Site, Storage, Direct Access
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 3.0
Exterior Features
- Foundation: Concrete Perimeter
- Roof Material: Flat
- Pool: Yes
HOA
- Has HOA: Yes
- HOA Fee: $667/monthly
- Additional HOA Fee: $379/monthly
Land Information
- Land Use: Residential
- Land Use Subtype: Condominium Unit
Lot Information
- Parcel ID: 1010P01006.069
- Lot Size: 141134 sqft
Property Information
- Property Type: Condominium
- Year Built: 2005
Tax Information
- Annual Tax: $6,522
Utilities
- Water & Sewer: Public
- Heating: Central, Electric
- Cooling: Ceiling Fan(s), Central Air
Location
- County: Harrison
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,448
- Cap Rate
- 2.1%
- Cash-on-Cash Return
- -15.7%
- Debt Coverage Ratio
- 0.36
- Internal Rate of Return (5 years)
- -11.2%
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:
| $480,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$384,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $96,000 |
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:
| $14,400 |
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:
| $110,400 |
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:
| $384,000 |
|---|---|
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:
| 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:
| $2,272 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $544 |
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:
| $245 |
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:
| $3,061 |
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:
| $3,500 | $42,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$210 | -$2,520 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $3,290 | $39,480 |
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. | 16% | -$544 | -$6,522 |
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% | -$245 | -$2,940 |
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% | -$280 | -$3,360 |
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% | -$175 | -$2,100 |
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% | -$175 | -$2,100 |
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. | 30% | -$1,047 | -$12,564 |
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 | 70% | -$2,466 | -$29,586 |
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:
| $824 | $9,888 |
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. | -$2,272 | -$27,264 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$1,448 | -$17,376 |