2512 Magazine St APT DNew OrleansLA70130
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeHigh DSCR is a competitive advantage at closing. 2512 Magazine St APT D, New Orleans, LA, 70130 in New Orleans achieves 1.69, rent of $2,042/mo covers the $1,211/mo payment 1.5x over at $269,400. Rental yield 9.1%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $74,430 over five years, with $2,481/yr in principal reduction bringing total projected return to $93,012.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.1% | 5.2% |
| Monthly Cash Flow | $(179) | $850 |
City averages based on New Orleans market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,042 |
| Total Monthly Debt Service | $2,115 |
| DSCR Ratio | 0.97x |
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 1895
753.59 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70130, New Orleans, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,642 (100%) |
| Owner Occupied HU | 2,914 (25.0%) |
| Renter Occupied HU | 5,842 (50.2%) |
| Vacant Housing Units | 2,886 (24.8%) |
| Median Home Value | $581,655 |
| Average Home Value | $726,576 |
Housing Distribution
Address Breakdown
Residential
11,455
Single Family
5,270
Multi-Family
6,185
Businesses
2,549
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 1895
753.59 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70130, New Orleans, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,642 (100%) |
| Owner Occupied HU | 2,914 (25.0%) |
| Renter Occupied HU | 5,842 (50.2%) |
| Vacant Housing Units | 2,886 (24.8%) |
| Median Home Value | $581,655 |
| Average Home Value | $726,576 |
Housing Distribution
Address Breakdown
Residential
11,455
Single Family
5,270
Multi-Family
6,185
Businesses
2,549
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Reena Crawford • LATTER & BLUM (LATT09)
Mls Name: GSREIN
Mls Provider:
Mls ID: #2511085
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.