2620-22 Philip StNew OrleansLA70113
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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 2620-22 Philip St, New Orleans, LA, 70113 uses $53,007 cash to close to unlock $7,934/yr annual cash flow and $661/mo monthly cash flow. Total monthly income runs $1,652/mo, and a $783/mo payment keeps the spread at $661/mo. Purchase price stands at $159,900, and rental yield measures 12.4% with $1,652/mo rent. Return on cash invested shows 34.88% in year one, and 5% annual appreciation builds toward $44,177 over five years. Five-year ROI reaches 183.23% and total cumulative return in cash records $97,122. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,652/mo property income covering a $783/mo payment rather than investor’s personal income.
Multi Family
Built in 1936
2,607 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70113, New Orleans, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,852 (100%) |
| Owner Occupied HU | 975 (16.7%) |
| Renter Occupied HU | 3,741 (63.9%) |
| Vacant Housing Units | 1,136 (19.4%) |
| Median Home Value | $354,392 |
| Average Home Value | $535,695 |
Housing Distribution
Address Breakdown
Residential
5,399
Single Family
3,773
Multi-Family
1,626
Businesses
579
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Listed by: Anthony Grosch • LATTER & BLUM (LATT10)
Mls Name: GSREIN
Mls ID: #2507783