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$193,999

For Sale - Active
5926 Tullis Dr, New Orleans, LA 70131
3 Beds
2 Baths
1,324 Square Feet
0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a
Checked: 23 hours ago
Updated: May 20, 2025 at 03:06AM

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
$324
Cap Rate
7.7%
Cash-on-Cash Return
8.7%
Debt Coverage Ratio
1.35
Internal Rate of Return (5 years)
12.5%

Property Description


0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a

Don't miss out on this great 3 bed 2 bath home. Great starter home or investment property to add to your portfolio! Home includes new windows, new HVAC system/duct work, new water heater, updated kitchen, and bathrooms. Home has plenty of private yard space to host a party or crawfish boil! Call today for your private showing!

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Location


Property Details


Parking

  • Description: OffStreet
  • 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 Rooms: 6
  • # 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: 513803762
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Traditional
  • Year Built: 2006

Tax Information

  • Annual Tax: $0

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Central Air

Location

  • County: Orleans Parish

Listing Details


Listed by:
Randall Michel
1 Percent Lists Legacy
(504) 499-0047

Source:
Gulf South Real Estate Information Network
MLS#: 2502096
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
$324
Cap Rate
7.7%
Cash-on-Cash Return
8.7%
Debt Coverage Ratio
1.35
Internal Rate of Return (5 years)
12.5%

Purchase Details

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Purchase price:
$193,999
Amount financed:
-$155,199
Down payment:
$38,800
Closing costs:
$5,820
Rehab costs:
$0
Initial cash invested:
$44,620
Square feet:
1,324
Cost per square foot:
$147
Monthly rent per square foot:
$1.36

Financing Details

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Loan amount:
$155,199
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$918
Property tax:
$0
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,044

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$450-$5,400

Cash Flow


Monthly Yearly
Net operating income:
$1,242 $14,904
Mortgage payments:
-$918 -$11,016
Cash flow:
$324 $3,888