1516 Aztec Ave APT 203MetairieLA70005
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 9.09% yield at 1516 Aztec Ave APT 203, Metairie, LA, 70005 in Metairie is solid, but the $540/mo payment compresses net cash flow to $85/mo at $120,000. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $33,154 by year five, and $1,105/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.68) without U.S. income documentation. Total projected return: $43,245.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 5.4% |
| Monthly Cash Flow | $85 | $185 |
City averages based on Metairie market data in our database. Property projections are estimates.
DSCR Rental Loan Qualification
Qualifies using the property's rental income, not your personal income.
- ✓No W-2, pay stubs, or tax returns needed
- ✓Rental income qualifies you
- ✓Built for real estate investors
| Monthly Rental Income | $909 |
| Total Monthly Debt Service | $911 |
| DSCR Ratio | 1.00x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1962
0.37 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70005, Metairie, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,735 (100%) |
| Owner Occupied HU | 7,413 (58.2%) |
| Renter Occupied HU | 4,248 (33.4%) |
| Vacant Housing Units | 1,074 ( 8.4%) |
| Median Home Value | $427,446 |
| Average Home Value | $580,693 |
Housing Distribution
Address Breakdown
Residential
12,470
Single Family
9,844
Multi-Family
2,626
Businesses
879
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
Condo
Built in 1962
0.37 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70005, Metairie, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,735 (100%) |
| Owner Occupied HU | 7,413 (58.2%) |
| Renter Occupied HU | 4,248 (33.4%) |
| Vacant Housing Units | 1,074 ( 8.4%) |
| Median Home Value | $427,446 |
| Average Home Value | $580,693 |
Housing Distribution
Address Breakdown
Residential
12,470
Single Family
9,844
Multi-Family
2,626
Businesses
879
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Richard Haffner • Olde Metairie Road Realty, LLC
Mls Name: GSREIN
Mls Provider:
Mls ID: #2491476
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.