2824 Steamship Cir APT KNew OrleansLA70123
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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 2824 Steamship Cir APT K, New Orleans, LA, 70123 offers a 11.42% rental yield on a $147,900 purchase with $1,407/mo rent. Total monthly income registers $1,407/mo, and a $724/mo payment leaves $92/mo available for distribution. Annual cash flow reaches $1,104/yr on $49,029 to close, and return on cash invested stands at 22.16% in year one. Equity gained on principal adds $954/yr while 5% annual appreciation supports $40,862 over five years. Portfolio math shows five-year ROI at 118.45% and total cumulative return in cash at $58,075. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,407/mo property income against a $724/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
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
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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.