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$191,000

For Sale - Active
3522 Joliet St, New Orleans, LA 70118
3 Beds
2 Baths
1,730 Square Feet
0.00 Acres Lot
Built in 1951
For Sale - Active
Units n/a
Checked: 15 hours ago
Updated: May 16, 2025 at 09:45AM

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$380
Cap Rate
8.7%
Cash-on-Cash Return
10.4%
Debt Coverage Ratio
1.38
Internal Rate of Return (5 years)
14.1%

Property Description


0.00 Acres Lot
Built in 1951
For Sale - Active
Units n/a

Spacious home with tons of natural light. New Kitchen cabinets, fresh paint, and a large back yard. Just missing your personal touch.

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Location


Property Details


Parking

  • Description: Driveway
  • Details: Driveway
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Stories: 1

Exterior Features

  • Foundation: Slab
  • Roof Material: Shingle

Land Information

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

Lot Information

  • Parcel ID: 716420916
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Traditional
  • Year Built: 1951

Tax Information

  • Annual Tax: $0

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Orleans Parish

Listing Details


Listed by:
Meghan Mercadel
NOLA Property Collective, LLC
(504) 940-4752

Source:
Gulf South Real Estate Information Network
MLS#: 2501922
Gulf South Real Estate Information Network

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$380
Cap Rate
8.7%
Cash-on-Cash Return
10.4%
Debt Coverage Ratio
1.38
Internal Rate of Return (5 years)
14.1%

Purchase Details

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Purchase price:
$191,000
Amount financed:
-$152,800
Down payment:
$38,200
Closing costs:
$5,730
Rehab costs:
$0
Initial cash invested:
$43,930
Square feet:
1,730
Cost per square foot:
$110
Monthly rent per square foot:
$1.16

Financing Details

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Loan amount:
$152,800
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$1,000
Property tax:
$0
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,140

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$500-$6,000

Cash Flow


Monthly Yearly
Net operating income:
$1,380 $16,560
Mortgage payments:
-$1,000 -$12,000
Cash flow:
$380 $4,560