2824 Steamship Cir APT KNew OrleansLA70123
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe 11.42% yield at 2824 Steamship Cir APT K, New Orleans, LA, 70123 in New Orleans is solid, but the $665/mo payment compresses net cash flow to $92/mo at $147,900. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $40,862 by year five, and $1,362/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (2.12) without U.S. income documentation. Total projected return: $63,746.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.4% | 5.2% |
| Monthly Cash Flow | $92 | $850 |
City averages based on New Orleans market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,407 |
| Total Monthly Debt Service | $1,256 |
| DSCR Ratio | 1.12x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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 1990
1,359 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70123, New Orleans, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,843 (100%) |
| Owner Occupied HU | 7,431 (53.7%) |
| Renter Occupied HU | 5,379 (38.9%) |
| Vacant Housing Units | 1,033 ( 7.5%) |
| Median Home Value | $370,090 |
| Average Home Value | $428,842 |
Housing Distribution
Address Breakdown
Residential
13,610
Single Family
9,133
Multi-Family
4,477
Businesses
1,631
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 1990
1,359 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70123, New Orleans, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 13,843 (100%) |
| Owner Occupied HU | 7,431 (53.7%) |
| Renter Occupied HU | 5,379 (38.9%) |
| Vacant Housing Units | 1,033 ( 7.5%) |
| Median Home Value | $370,090 |
| Average Home Value | $428,842 |
Housing Distribution
Address Breakdown
Residential
13,610
Single Family
9,133
Multi-Family
4,477
Businesses
1,631
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Randall Michel • 1 Percent Lists Legacy
Mls Name: GSREIN
Mls Provider:
Mls ID: #2509089
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.