1016 Independence StNew OrleansLA70117
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in New Orleans at 1016 Independence St, New Orleans, LA, 70117 priced at $475,000 converts $3,630/mo rent into $688/mo cash flow after a $2,325/mo obligation. Total monthly income equals $3,630/mo, and annual cash flow totals $8,250/yr on $157,463 invested. Return on cash invested prints 25.15% in year one, and rental yield reads 9.17% against a $475,000 entry. Equity gained on principal adds $3,065/yr, while 5% annual appreciation compiles into $131,234 by year five. Five-year ROI reaches 130.96% and total cumulative return in cash sums $206,215. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,630/mo property income covering a $2,325/mo payment, not borrower’s personal income.
Multi Family
Built in 1935
3,428 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70117, New Orleans, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,497 (100%) |
| Owner Occupied HU | 6,234 (37.8%) |
| Renter Occupied HU | 7,290 (44.2%) |
| Vacant Housing Units | 2,973 (18.0%) |
| Median Home Value | $297,388 |
| Average Home Value | $417,629 |
Housing Distribution
Address Breakdown
Residential
16,789
Single Family
16,085
Multi-Family
704
Businesses
737
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Kaisha Lymon • Royale Ruby Realty, LLC
Mls Name: GSREIN
Mls Provider:
Mls ID: #2495857
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.