1934-36 Spain StNew OrleansLA70117
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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
Investment property for sale in New Orleans at 1934-36 Spain St, New Orleans, LA, 70117 uses $65,969 cash to close to unlock $9,904/yr annual cash flow and $825/mo monthly cash flow. Total monthly income runs $2,058/mo, and a $974/mo payment keeps the spread at $825/mo. Purchase price stands at $199,000, and rental yield measures 12.41% with $2,058/mo rent. Return on cash invested shows 34.92% in year one, and 5% annual appreciation builds toward $54,980 over five years. Five-year ROI reaches 183.42% and total cumulative return in cash records $121,002. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,058/mo property income covering a $974/mo payment rather than investor’s personal income.
Multi Family
Built in 1969
3,358 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
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Listed by: Christopher Hakenjos • RE/MAX Living
Mls Name: GSREIN
Mls ID: #2531332