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$1,900,000

For Sale - Active
605 S America St, Covington, LA 70433
4 Beds
5 Baths
4,696 Square Feet
0.00 Acres Lot
Built in 1895
For Sale - Active
Units n/a
Checked: 20 hours ago
Updated: Jul 10, 2025 at 03:05AM

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
-$6,024
Cap Rate
1.9%
Cash-on-Cash Return
-16.5%
Debt Coverage Ratio
0.33
Internal Rate of Return (5 years)
-12.0%

Property Description


0.00 Acres Lot
Built in 1895
For Sale - Active
Units n/a

A timeless estate in the heart of Covington. This stunning home is a total renovation blending Southern charm with modern luxury. Soaring 12-foot ceilings and heart of pine floors set the stage for its generously sized 4,696 square feet of refined living space, featuring four bedrooms and four and a half bathrooms. The chef’s kitchen is a masterpiece, boasting Sub-Zero appliances, marble countertops, and quality craftsmanship. Upstairs, a private kitchenette connects to a bedroom and bath, offering the perfect space for a guest suite. Just beyond, a charming private courtyard with a fountain feature provides a peaceful retreat, perfect for quiet mornings or intimate gatherings. Framing the front yard, a beautiful mature oak adds to the home’s timeless appeal.

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Location


Property Details


Parking

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

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 4
  • # of Baths (Total): 5.0

Interior Features

  • # of Rooms: 11
  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

  • Foundation: Raised
  • Roof Material: Shingle

Land Information

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

Lot Information

  • Parcel ID: 18632
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Victorian
  • Year Built: 1895

Tax Information

  • Annual Tax: $0

Utilities

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

Location

  • County: St. Tammany Parish

Listing Details


Listed by:
Jennifer Rice
Berkshire Hathaway HomeServices Preferred, REALTOR
(985) 966-1321

Source:
Gulf South Real Estate Information Network
MLS#: 2488862
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
-$6,024
Cap Rate
1.9%
Cash-on-Cash Return
-16.5%
Debt Coverage Ratio
0.33
Internal Rate of Return (5 years)
-12.0%

Purchase Details

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Purchase price:
$1,900,000
Amount financed:
-$1,520,000
Down payment:
$380,000
Closing costs:
$57,000
Rehab costs:
$0
Initial cash invested:
$437,000
Square feet:
4,696
Cost per square foot:
$405
Monthly rent per square foot:
$0.92

Financing Details

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Loan amount:
$1,520,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$8,991
Property tax:
$0
Insurance:
$301
Private mortgage insurance (PMI):
$0
Monthly payment:
$9,292

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,300 $51,600
Vacancy loss: (6%)
6% -$258 -$3,096
Operating income:
$4,042 $48,504

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$301-$3,612
Property management: (8%)
8%-$344-$4,128
Repairs & maintenance: (5%)
5%-$215-$2,580
Capital expenditures: (5%)
5%-$215-$2,580
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$1,075-$12,900

Cash Flow


Monthly Yearly
Net operating income:
$2,967 $35,604
Mortgage payments:
-$8,991 -$107,892
Cash flow:
$6,024 $72,288