Deal numbers
- Est. cap rate
- 1.1%
- Assumed rent, all units
- $6,000/mo
- Units
- 2
- Price per unit
- $1,675,000
- Est. annual NOI
- $36,000
- Expense assumption
- 50%
Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.
Run your own numbers
Adjust the assumptions to see cash flow and cash on cash return.
- Effective gross income
- $68,400
- Operating expenses
- $34,200
- Net operating income
- $34,200
- Annual debt service
- $200,589
- Annual cash flow
- -$166,389
- Cash on cash return
- -19.9%
- Down payment
- $837,500
Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.
Property details
- Type
- Duplex
- Bedrooms
- 3
- Bathrooms
- 3
- Building size
- 1,100 sqft
- Lot size
- 3,085 sqft
- Year built
- 1936
- Stories
- 2
- Garage spaces
- 2
- Style
- Cottage
- Cooling
- None
- Pool
- None
- View
- None
- Status
- ComingSoon
- Days on market
- 0
- MLS #
- 249350546
About this property
Discover the charm of Balboa Island living at this adorable and inviting cottage, ideally situated on the iconic Ruby Avenue, just steps from the beautiful North Bayfront! Offering approximately 1,100 square feet, this charming duplex features 3 bedrooms, 3 bathrooms, a 2-car garage and golf cart parking. Rich in character and coastal appeal, the property showcases beautiful wood paneling throughout and impressive high ceilings that create a warm, open, and welcoming atmosphere. The front cottage offers 2 bedrooms and 2 bathrooms, while the additional living space features 1 bedroom, 1 bathroom, and a generously sized office that could also serve as a spacious walk-in closet, providing flexibility for guests, extended family, or a home office. Whether you're looking for a special island getaway, an investment opportunity, or a place to enjoy the quintessential Balboa Island lifestyle, this delightful property offers endless possibilities. Enjoy the best of island living with the bayfront, waterfront strolls, charming shops, and local restaurants just moments away. Don't miss this wonderful opportunity to own a piece of Balboa Island charm on one of its most iconic streets!
Location
306 RUBY Avenue
Newport Beach, Orange, CA, 92662