248 Cherokee St APT 11New OrleansLA70118
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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 248 Cherokee St APT 11, New Orleans, LA, 70118 offers a 9.06% rental yield on a $189,000 purchase with $1,427/mo rent. Total monthly income registers $1,427/mo, and a $925/mo payment leaves $256/mo available for distribution. Annual cash flow reaches $3,076/yr on $62,654 to close, and return on cash invested stands at 24.82% in year one. Equity gained on principal adds $1,220/yr while 5% annual appreciation supports $52,217 over five years. Portfolio math shows five-year ROI at 129.24% and total cumulative return in cash at $80,974. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,427/mo property income against a $925/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1981
692.60 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70118, New Orleans, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 15,997 (100%) |
| Owner Occupied HU | 6,455 (40.4%) |
| Renter Occupied HU | 7,143 (44.7%) |
| Vacant Housing Units | 2,399 (15.0%) |
| Median Home Value | $468,215 |
| Average Home Value | $623,943 |
Housing Distribution
Address Breakdown
Residential
16,224
Single Family
14,534
Multi-Family
1,690
Businesses
796
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Listed by: Rachel Silvers • Galiano Realty
Mls Name: GSREIN
Mls ID: #2510940