$599,000
Investment Summary
- Monthly Cash Flow
- -$1,900
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -16.5%
- Debt Coverage Ratio
- 0.37
- Internal Rate of Return (5 years)
- -12.0%
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
STOP PAYING RENT, INVEST YOUR INCOME IN YOUR OWN HOME!! THREE LEVELS SPLIT-STYLE HOME WELCOME TO 33 PRINCETON ST, BAY SHORE, NY 11706 THIS BEAUTIFUL REIMAGINED 5 BEDROOMS, 2 FULL MODERN BATHROOMS, 2 LIVING ROOMS, MODERN KITCHEN EXTRA SUMMER KITCHEN, LAUNDRY, MOTHER-DAUGHTER APARTMENT WITH PROPER PERMITS, HOUSE HAS NATURAL GAS, HOME OFFERS COMFORTABLE ACCOMMODATION AND FUNCTIONALITY AT A LOW COST ON THE MARKET, COMPLETELY UPDATED AND CAREFULLY DESIGNED FOR TODAY'S LIFESTYLE. UPON ARRIVAL AT THIS PROPERTY, YOU WILL BE GREETED WITH IMPRESSIVE SPACES AND POTENTIAL TO ACCOMMODATE A LARGE FAMILY. STEP INSIDE THE FIRST YOU WILL FIND A LARGE ROOM THAT IS A FORMAL LIVING ROOM, AND A MODERN GALLERY KITCHEN WITH SOLID WHITE CABINETRY TOPPED WITH A CARRARA COUNTERTOP WITH BLACK AND GOLD VEINING, SS APPLIANCES INCLUDED FRIDGE, DISHWASHER, MICROWAVE, AND GAS COOKING STOVE. WITH OUTSIDE ENTRANCE TO THE BBQ AREA, SECOND LEVEL FEAUTURES: PRIMARY BEDROOM SUITABLE FOR A QUEEN SIZED BED CLOSET, NATURAL LIGHT, SECOND BEDROOM SUITABLE FOR A QUEEN SIZED BED, CLOSET, THIRD BEDROOM SUITABLE FOR A FULL OR TWIN XL SIZED BED, AND UPDATED FUL BATHTUB BATHROOM WITH DECORATIVE PORCELAIN TILE WITH GOLD VEINS ON BATHROOM SHOWER WALLS WITH A GRAY PORCELAIN FLOOR THAT CONTRASTS HARMONIOUSLY WITH THE COLOR OF THE WALLS TO GIVE IT A TOUCH OF ELEGANCEAN, ON THESE TWO MAIN LEVELS THE FLOORS ARE COVERED WITH NATURAL WOOD FLOORING COATED WITH A VERY BRIGHT SHINE. BASEMENT FEATURES: FOURTH BEDROOM SUITABLE A KING SIZED BED AND AN EXTRA BEDROOM FIT A FULL SIZED BED, LIVING ROOM SPACE AND SUMMER KITCHEN WITH WHITE CABINETRY AND CARRARA QUARTZ COUNTERTOP, FULL STANDING SHOWER BUILT WITH WALLS LINED WITH ELEGANT WHITE PORCELAIN WITH DESIGN, GRAY CERAMIC FLOOR, BASEMENT FLOORING IS UPDATED WITH WATERPROOF VINYL, COMPLETELY UPDATED WITH MODERN FINISHES AND OFFERS A PRIVATE ENTRANCE FOR EACH LEVEL, CREATING PERFECT DAILY LIVING, ENTERTAINMENT, BARBECUE AREA ON A CONCRETE PATIO WITH A GREEN SPACE FOR YOUR ENTERTAINMENT, AND AN EXTRA SPACE A FLORIDA ROOMDESIGNED AS AN EXTENSION OF THE HOUSE, OUTDOOR ENTERTAIMENT ALL AROUND THE YEAR OR CAN BE A PLAY ROOM, THIS HOME IS LOCATED AT THE CENTER OF THE TOWN OF BAY SHORE, CONVENIENT AND COMMUTING TO THE CITY OR YOUR NEIGHBORHOOD TO ENJOY LOCAL RESTAURANTS, SHOPPING, PARKS, AND MORE—15 MINUTES FROM TANGLER OUTLETS IN DEER PARK, BAY SHORE SCHOOL DISTRICT!!!. GAS, YES, THE HOUSE IS GAS HEATING AND COOKING STOVE GAS, DRIVEWAY FITS 4 CARS, HUGE BACK YARD ENOUGH SPACE FOR A BIG POOL!! MOVE-IN-READY HOME, WAITING FOR THE NEXT CHAPTER TO BE WRITTEN. GREAT OPPORTUNITY FOR INVESTORS, AND REGULAR BUYERS!! THERE CAN BE 2 RENTAL INCOMES IN THE HOUSE AROUND $6200 MONTHLY, TOO MUCH TO LIST. WELCOME TO A POTENTIAL HOME!!
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Location
Property Details
Parking
- Description: Private
- Garage Spaces: 0
- Spaces Total: 4
Bedroom Information
- # of Bedrooms: 5
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Total): 2.0
Interior Features
- # of Rooms: 12
- Basement Description: Finished
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0500290.0001.00087.000
- Lot Size: 7405 sqft
Property Information
- Property Type: Single Family Residence
- Style: Split Level
- Year Built: 1952
Tax Information
- Annual Tax: $10,467
Utilities
- Water & Sewer: Public
- Heating: Natural Gas
- Cooling: None
Location
- County: Suffolk
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,900
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -16.5%
- Debt Coverage Ratio
- 0.37
- Internal Rate of Return (5 years)
- -12.0%
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:
| $599,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$479,200 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $119,800 |
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:
| $17,970 |
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:
| $137,770 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,525 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $393 |
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:
| $1.90 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $479,200 |
|---|---|
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:
| $3,029 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $872 |
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:
| $203 |
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:
| $4,104 |
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:
| $2,900 | $34,800 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$174 | -$2,088 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,726 | $32,712 |
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% | -$872 | -$10,467 |
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% | -$203 | -$2,436 |
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% | -$232 | -$2,784 |
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% | -$145 | -$1,740 |
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% | -$145 | -$1,740 |
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% | -$1,597 | -$19,167 |
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:
| $1,129 | $13,548 |
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. | -$3,029 | -$36,348 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$1,900 | -$22,800 |