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$799,500

For Sale - Active
2720 Long Lake Pl, Norman, OK 73026
3 Beds
4 Baths
0 Square Feet
1.02 Acres Lot
Built in 2004
For Sale - Active
1 Units
Checked: 9 hours ago
Updated: Jul 08, 2025 at 03:12AM

Investment Summary


Monthly Cash Flow
-$1,203
Cap Rate
3.9%
Cash-on-Cash Return
-7.9%
Debt Coverage Ratio
0.68
Internal Rate of Return (5 years)
-3.6%

Property Description


1.02 Acres Lot
Built in 2004
For Sale - Active
1 Units

Discover this stately waterfront acreage in the dual-gated community of Wellington Lake providing peace and tranquility with the convenience of city amenities only minutes away. Grand architectural features begin with the double, wood and iron front entry, continue throughout the home, spilling across the back patio of this Tudor style home. Main level: luxurious primary quarters with adjoining sitting room faces the water, has a private patio and also access to back terrace. Double vanities, soaker tub, separate shower, water closet with bidet, hand painted vanity surround and custom California Closets design combine for the perfect ensuite bathroom. Gourmet Chef's kitchen is reminiscent of the English countryside, provides plentiful counter and cabinet space, island, and double ovens topped with granite counters. The grand living area is anchored by a carved marble fireplace off set by double French doors that lead to the main terrace. The split floorplan includes secondary bedroom, interior safe room, formal dining, study and half bath. From the southern end of the home a grand staircase leads to second level with expansive suite featuring ensuite bath and living area, two sets of French doors, access to large balcony and breathtaking views of the water. Additionally the second level provides an exercise studio and flex room, both of which could be used as secondary bedrooms. Elegant tile accents, wood work, hardware, lighting fixtures and architectural insets can be found in every room of the home. Large windows and multiple French doors throughout the house bath the interior in natural light complementing white woodwork and light flooring for a bright, airy atmosphere and enjoyment of the lush landscaping and water views. The impeccably landscaped grounds span one acre with landscaping featuring mature trees and perennials, terrace, koi pond, fountain and step down access to water. Stately and tranquil, estate is a truly unique offering.

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Location


Property Details


Parking

  • Description: Attached, Concrete, Driveway, Garage, GarageDoorOpener
  • Details: Attached, Concrete, Driveway, Garage, Garage Door Opener
  • Garage Spaces: 3
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Partial): 1
  • # of Baths (Total): 4.0

Interior Features

  • # of Rooms: 11
  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Brick Veneer
  • Foundation: Slab
  • Roof Type: Gable
  • Roof Material: Composition

HOA

  • Has HOA: Yes
  • HOA Fee: $400/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: NC40WELK211001
  • Lot Size: 44431 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Tudor, Traditional
  • Year Built: 2004

Tax Information

  • Annual Tax: $5,076

Utilities

  • Water & Sewer: Well
  • Heating: Natural Gas, Central
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Cleveland

Listing Details


Listed by:
Aimee Coulter
Porch & Gable Real Estate
(405) 808-7308

Source:
MLSOK
MLS#: 1097796

Investment Summary


Monthly Cash Flow
-$1,203
Cap Rate
3.9%
Cash-on-Cash Return
-7.9%
Debt Coverage Ratio
0.68
Internal Rate of Return (5 years)
-3.6%

Purchase Details

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Purchase price:
$799,500
Amount financed:
-$639,600
Down payment:
$159,900
Closing costs:
$23,985
Rehab costs:
$0
Initial cash invested:
$183,885
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$639,600
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$3,783
Property tax:
$423
Insurance:
$308
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,514

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,400 $52,800
Vacancy loss: (6%)
6% -$264 -$3,168
Operating income:
$4,136 $49,632

Operating Expenses


% Rent Monthly Yearly
Property taxes: (10%)
10%-$423-$5,076
Insurance: (7%)
7%-$308-$3,696
Property management: (8%)
8%-$352-$4,224
Repairs & maintenance: (5%)
5%-$220-$2,640
Capital expenditures: (5%)
5%-$220-$2,640
HOA fees: (1%)
1%-$33-$396
Total operating expenses: (35%)
35%-$1,556-$18,672

Cash Flow


Monthly Yearly
Net operating income:
$2,580 $30,960
Mortgage payments:
-$3,783 -$45,396
Cash flow:
$1,203 $14,436