232 Lake Marina Ave APT 4CNew OrleansLA70124
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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
Rental property for sale in New Orleans at 232 Lake Marina Ave APT 4C, New Orleans, LA, 70124 priced at $1,365,000 converts $2,238/mo rent into after a $6,681/mo obligation. Total monthly income equals $2,238/mo. Return on cash invested prints 3.5% in year one, and rental yield reads 1.97% against a $1,365,000 entry. Equity gained on principal adds $8,808/yr, while 5% annual appreciation compiles into $377,124 by year five. Five-year ROI reaches 14.75% and total cumulative return in cash sums $65,255. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,238/mo property income covering a $6,681/mo payment, not borrower’s personal income.
Condo
Built in 2001
1,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70124, New Orleans, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,174 (100%) |
| Owner Occupied HU | 6,916 (68.0%) |
| Renter Occupied HU | 2,432 (23.9%) |
| Vacant Housing Units | 826 ( 8.1%) |
| Median Home Value | $588,858 |
| Average Home Value | $647,212 |
Housing Distribution
Address Breakdown
Residential
10,313
Single Family
9,693
Multi-Family
620
Businesses
329
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Listed by: Vickye Vasser • Homesmart Realty South
Mls Name: GSREIN
Mls ID: #2525955