$2,300,000
Investment Summary
- Monthly Cash Flow
- -$7,850
- Cap Rate
- 2.0%
- Cash-on-Cash Return
- -17.8%
- Debt Coverage Ratio
- 0.33
- Internal Rate of Return (5 years)
- -13.2%
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
Experience the ultimate oceanfront living with this stunning, updated year-round home in Atlantique. Completely rebuilt from the ground up in 2010 using only the highest quality materials. Nestled on a rare and oversized 160 x 80 lot, this home boasts breathtaking panoramic ocean views and unparalleled seclusion. With the ocean to the south and the National Seashore to the east, you’ll enjoy unmatched privacy and a true sense of escape. Whether you’re seeking a peaceful retreat or a luxurious forever home, this property delivers it all. Enjoy stunning sunsets from your private oceanfront deck — a view that will never get old. This home is designed to maximize the connection between indoor and outdoor living, with multiple mahogany decks throughout, inviting you to embrace the tranquil beauty of the ocean and the surrounding landscape. Take your outdoor living experience to the next level with a crow’s nest landing roof deck offering 360-degree views of the bay and ocean. It's the perfect spot for stargazing, watching the sunset, or simply soaking in the beauty of your surroundings. The thoughtfully landscaped outdoor space creates a serene garden oasis, ideal for relaxing. After a day at the beach, rinse off in the outdoor shower or unwind in the private hot tub, surrounded by lush nature. The heart of the home is the chef’s kitchen, featuring top-of-the-line appliances, ample counter space, and a spacious layout designed for culinary enthusiasts. Whether you're preparing a meal or hosting guests, the adjacent bar area provides the perfect setting for entertaining. The living room is the ideal place to unwind, with a cozy fireplace that adds warmth and ambiance to the space, perfect for chilly evenings or creating a welcoming atmosphere. Spread across two floors, this home offers the ideal blend of spacious living areas and intimate retreats. This home offers a thoughtfully designed layout, with one bedroom and one full bathroom conveniently located downstairs and two bedrooms upstairs, including a luxurious primary suite. The primary bedroom provides spectacular ocean views from both the bedroom and the private decks. The primary bathroom is a true sanctuary, complete with a luxurious steam shower to help you relax and rejuvenate. Central air keeps the interior cool during the summer months, while a cozy fireplace adds warmth on cooler evenings. A fully finished, generously sized basement offers abundant storage space, including an extra fridge and a full-size upright freezer, making it the perfect space for all your storage needs. The basement can easily be transformed into a home office, entertainment area, or personal gym. This stunning home includes a custom-modified golf cart, equipped with a lift kit and balloon tires, perfect for cruising across the sand. The property also comes with an impressive array of beach and marine sporting gear, including at least one kayak, two stand-up paddle-boards (SUPs), fishing poles and tackle, boogie boards, beach chairs, umbrellas, and coolers—everything you need for endless outdoor fun. Additionally, there's an option to negotiate the inclusion of direct access to a private dock less than 500 feet from the home, offering an exclusive waterfront lifestyle. Convenience is key, with an 8-minute walk to the Atlantique ferry and water taxi, offering easy access to nearby destinations. A 20-minute walk leads you to Ocean Beach, where you can explore a variety of restaurants and shops.
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Location
Property Details
Parking
- Description: Private
- Garage Spaces: 0
- Spaces Total: 0
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 2
- # of Baths (Partial): 1
- # of Baths (Total): 3.0
Interior Features
- # of Rooms: 8
- Basement: Yes
- Basement Description: Unfinished
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 0500495.0002.00033.000
- Lot Size: 6098 sqft
Property Information
- Property Type: Single Family Residence
- Style: Other
- Year Built: 1978
Tax Information
- Annual Tax: $12,597
Utilities
- Water & Sewer: Public
- Heating: Other, Radiant Floor
- Cooling: Central Air
Location
- County: Suffolk
Listing Details
Investment Summary
- Monthly Cash Flow
- -$7,850
- Cap Rate
- 2.0%
- Cash-on-Cash Return
- -17.8%
- Debt Coverage Ratio
- 0.33
- Internal Rate of Return (5 years)
- -13.2%
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:
| $2,300,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$1,840,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $460,000 |
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:
| $69,000 |
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:
| $529,000 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 1,937 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $1,187 |
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:
| $3.61 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $1,840,000 |
|---|---|
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:
| 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:
| $11,630 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $1,050 |
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:
| $490 |
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:
| $13,170 |
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:
| $7,000 | $84,000 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$420 | -$5,040 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $6,580 | $78,960 |
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. | 15% | -$1,050 | -$12,597 |
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% | -$490 | -$5,880 |
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% | -$560 | -$6,720 |
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% | -$350 | -$4,200 |
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% | -$350 | -$4,200 |
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 | 40% | -$2,800 | -$33,597 |
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:
| $3,780 | $45,360 |
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. | -$11,630 | -$139,560 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | -$7,850 | -$94,200 |