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$449,000

For Sale - Active
701 Franklin Ave, Gretna, LA 70053
4 Beds
3 Baths
1,600 Square Feet
0.00 Acres Lot
Built in 1970
For Sale - Active
Units n/a
Checked: 17 hours ago
Updated: Apr 23, 2025 at 09:35PM

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
-$1,523
Cap Rate
2.2%
Cash-on-Cash Return
-17.7%
Debt Coverage Ratio
0.35
Internal Rate of Return (5 years)
-13.1%

Property Description


0.00 Acres Lot
Built in 1970
For Sale - Active
Units n/a

Discover the perfect blend of historic charm and modern elegance at 701 Franklin Avenue! This completely renovated home retains the original facade of the beloved Old Gretna area while offering a wealth of contemporary comfort features. With no expense spared, every detail of this remodel showcases luxury and sophistication. Step inside to find a spacious layout transformed from a double into a single-family home, featuring 4 bedrooms and 3 full bathrooms. Gleaming ceramic floors and exquisite granite countertops flow throughout, complemented by triple crown molding and tray ceilings adorned with elegant chandeliers. The heart of the home is the stunning kitchen, complete with a center island and breakfast area seating—ideal for casual dining or entertaining guests. Enjoy leisurely mornings or evening relaxation on the full front porch, which boasts two sets of steps and two charming front doors, one leading directly to the primary bedroom. Additional highlights include modern HVAC, electrical, and plumbing systems, ensuring comfort and peace of mind. Rear off-street parking for two cars adds convenience to this exceptional property. Don't miss your chance to call this property 'HOME'. Schedule a viewing today!

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Location


Property Details


Parking

  • Details: Driveway, Off Street
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 1

Exterior Features

  • Foundation: Raised
  • Roof Material: Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Duplex

Lot Information

  • Parcel ID: 0100003164
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: French Provincial
  • Year Built: 1970

Tax Information

  • Annual Tax: $0

Utilities

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

Location

  • County: Jefferson Parish

Listing Details


Listed by:
Thelma Miller
C-21 Richard Berry & Assoc,Inc
(504) 367-2345

Source:
Gulf South Real Estate Information Network
MLS#: 2496277
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
-$1,523
Cap Rate
2.2%
Cash-on-Cash Return
-17.7%
Debt Coverage Ratio
0.35
Internal Rate of Return (5 years)
-13.1%

Purchase Details

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Purchase price:
$449,000
Amount financed:
-$359,200
Down payment:
$89,800
Closing costs:
$13,470
Rehab costs:
$0
Initial cash invested:
$103,270
Square feet:
1,600
Cost per square foot:
$281
Monthly rent per square foot:
$0.75

Financing Details

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Loan amount:
$359,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$2,351
Property tax:
$0
Insurance:
$84
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,435

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,200 $14,400
Vacancy loss: (6%)
6% -$72 -$864
Operating income:
$1,128 $13,536

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$84-$1,008
Property management: (8%)
8%-$96-$1,152
Repairs & maintenance: (5%)
5%-$60-$720
Capital expenditures: (5%)
5%-$60-$720
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$300-$3,600

Cash Flow


Monthly Yearly
Net operating income:
$828 $9,936
Mortgage payments:
-$2,351 -$28,212
Cash flow:
$1,523 $18,276