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$269,000

For Sale - Active
760 Magazine St Apt 203, New Orleans, LA 70130
1 Bed
1 Bath
656 Square Feet
0.00 Acres Lot
Built in 1910
For Sale - Active
57 Units
Checked: 6 hours ago
Updated: May 22, 2025 at 11:44AM

Investment Summary


Potential Missing Expenses

We noticed that property taxes and HOA fees are missing—these are standard expenses and should be considered in your estimate.

Monthly Cash Flow
$38
Cap Rate
5.8%
Cash-on-Cash Return
0.7%
Debt Coverage Ratio
1.03
Internal Rate of Return (5 years)
4.7%

Property Description


0.00 Acres Lot
Built in 1910
For Sale - Active
57 Units

Seller is offering $2,000 towards buyer's closing costs! Second floor 1 bedroom 1 bath condo with designated parking in elevator building overlooking bustling Julia Street with designated gated parking in adjacent lot. Unit 203 features a large living/dining space with huge workable windows (recently refurbished by the condo assn) overlooking Julia and Magazine with newly installed plantation shutters for shade and privacy. With hardwood flooring, fresh paint, updated bath fixtures, new refrigerator and water heater plus full-size washer and dryer, this unit is move in ready. This redeveloped warehouse factory includes a new roof, elevator, gym, parking, secure entry and a beautiful open-air courtyard so you can let the fresh air into your unit during beautiful weather. Enjoy White Linen Night and Art For Art's Sake as well as the occasional second line from your window and Mardi Gras parades pass just 2 blocks away on world famous St Charles Avenue and also terminate one block away on Tchoupitoulas. Nearby you will find the best restaurants, bars and people that New Orleans has to offer! Be in the middle of it all at Magazine Place.

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Location


Property Details


Parking

  • Description: Assigned, ParkingAvailable, ParkingLot, OneSpace
  • Details: Assigned, Parking Lot
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 3
  • # of Stories: 4

Exterior Features

  • Foundation: Slab
  • Roof Material: Flat

HOA

  • Has HOA: Yes
  • Association: Magazine Place
  • Additional HOA Fee: $455

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 103102373
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Other
  • Year Built: 1910

Tax Information

  • Annual Tax: $0

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Orleans Parish

Listing Details


Listed by:
Dawnne Keeney
Crescent Sotheby's International
(504) 944-3605

Source:
Gulf South Real Estate Information Network
MLS#: 2488826
Gulf South Real Estate Information Network

Investment Summary


Potential Missing Expenses

We noticed that property taxes and HOA fees are missing—these are standard expenses and should be considered in your estimate.

Monthly Cash Flow
$38
Cap Rate
5.8%
Cash-on-Cash Return
0.7%
Debt Coverage Ratio
1.03
Internal Rate of Return (5 years)
4.7%

Purchase Details

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Purchase price:
$269,000
Amount financed:
-$215,200
Down payment:
$53,800
Closing costs:
$8,070
Rehab costs:
$0
Initial cash invested:
$61,870
Square feet:
656
Cost per square foot:
$410
Monthly rent per square foot:
$2.90

Financing Details

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Loan amount:
$215,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,273
Property tax:
$0
Insurance:
$133
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,406

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,900 $22,800
Vacancy loss: (6%)
6% -$114 -$1,368
Operating income:
$1,786 $21,432

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$133-$1,596
Property management: (8%)
8%-$152-$1,824
Repairs & maintenance: (5%)
5%-$95-$1,140
Capital expenditures: (5%)
5%-$95-$1,140
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$475-$5,700

Cash Flow


Monthly Yearly
Net operating income:
$1,311 $15,732
Mortgage payments:
-$1,273 -$15,276
Cash flow:
$38 $456