$4,490,000
Investment Summary
- Monthly Cash Flow
- -$19,290
- Cap Rate
- 0.5%
- Cash-on-Cash Return
- -22.4%
- Debt Coverage Ratio
- 0.09
- Internal Rate of Return (5 years)
- -17.6%
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
Situated on over ten acres of prime bayou-front property, this Greek Revival masterpiece, designed by renowned New Orleans architect Barry Fox, channels the iconic elegance of the Tara plantation from Gone with the Wind. With its towering columns and grand entryways, this home brings the grandeur of the Old South into the present day. Passing through the front gates, you're greeted by gas-lit lanterns and a sprawling front yard adorned with a stately fountain and lush landscaping. The main living areas feature a grand foyer with a spiral staircase, a spacious formal dining room, a double-faced hearth connecting the formal living room and billiard room, and a grand bar room designed for entertaining with a wall of windows overlooking the bayou. Every detail has been crafted with both function and beauty in mind. The kitchen is a chef's dream, equipped with a Wolf 48'' gas range, Sub-Zero appliances, and a large island that seats nine—perfect for gatherings large and small. Below the main living level you'll find a custom wine cellar designed for the avid collector, complete with Wine Guardian commercial-grade temperature and humidity control, and an adjoining entertaining area/ flex space. Located on the upper-level, the primary suite offers a grand entryway with a wet bar and beverage fridge. Off the bedroom is a private office with floor-to-ceiling windows, a gas fireplace, and retractable awnings. The master bath features a jetted tub, mounted TV, glass walk in shower, and a spacious closet with his-and-hers sides. The outdoor area features a heated gunite pool with a swim-up bar and hot tub. The expansive outdoor kitchen includes a hybrid fire grill, wine fridge, and ice maker for seamless al fresco dining. The private boat dock with solar-powered lifts offers easy bayou access, and the rooftop gazebo provides panoramic water views. The property includes a climate-controlled 3-car garage equipped with a Tesla supercharger, along with a 3-car carport for additional parking.This is more than just a house; it's a lifestyle. From the Greek Revival architecture to the lush grounds and grand interiors, this home is a true Southern estate—a timeless retreat designed to celebrate the art of living well.
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Location
Property Details
Parking
- Description: Detached Carport, Driveway, Electric Gate, Electric Vehicle Charging Station, Gated, Direct Access, Circular Driveway, Concrete, Paved
- Details: Detached Carport, Driveway, Electric Gate, Gated, Direct Access, Circular Driveway, Concrete, Paved
- Garage Spaces: 3
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 4
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Partial): 2
- # of Baths (Total): 5.0
Interior Features
- Fireplace: Yes
Exterior Features
- Foundation: Slab
- Roof Type: Hip
- Roof Material: Shingle, Slate
- Pool: Yes
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0909P02045.000
- Lot Size: 461300 sqft
Property Information
- Property Type: Single Family Residence
- Style: Greek Revival
- Year Built: 1978
Tax Information
- Annual Tax: $13,758
Utilities
- Water & Sewer: Public
- Heating: Central, Fireplace(s), Natural Gas
- Cooling: Central Air, Electric, Gas
Location
- County: Harrison
Listing Details
Investment Summary
- Monthly Cash Flow
- -$19,290
- Cap Rate
- 0.5%
- Cash-on-Cash Return
- -22.4%
- Debt Coverage Ratio
- 0.09
- Internal Rate of Return (5 years)
- -17.6%
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:
| $4,490,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$3,592,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $898,000 |
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:
| $134,700 |
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:
| $1,032,700 |
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:
| $3,592,000 |
|---|---|
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:
| $21,248 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,147 |
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:
| $315 |
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:
| $22,710 |
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:
| $4,500 | $54,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$270 | -$3,240 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $4,230 | $50,760 |
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. | 25% | -$1,147 | -$13,758 |
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% | -$315 | -$3,780 |
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% | -$360 | -$4,320 |
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% | -$225 | -$2,700 |
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% | -$225 | -$2,700 |
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 | 50% | -$2,272 | -$27,258 |
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:
| $1,958 | $23,496 |
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. | -$21,248 | -$254,976 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $19,290 | $231,480 |