302 Richland Ave UNIT 308CLafayetteLA70508
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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
Rental property for sale in Lafayette at 302 Richland Ave UNIT 308C, Lafayette, LA, 70508 generates $4,270/mo in rent, after a $3,563/mo payment. Total monthly income is $4,270/mo. Return on cash invested sits at 18.86% in year one, and rental yield is 7.04% on a $728,000 entry. Equity gained on principal adds $4,698/yr, while 5% annual appreciation builds toward $201,133 over five years. Five-year ROI reaches 97.19% and total cumulative return in cash sums $232,787. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $4,270/mo property income rather than buyer’s personal income.
Condo
Built in 2006
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70508, Lafayette, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,424 (100%) |
| Owner Occupied HU | 12,199 (56.9%) |
| Renter Occupied HU | 6,462 (30.2%) |
| Vacant Housing Units | 2,763 (12.9%) |
| Median Home Value | $314,945 |
| Average Home Value | $394,583 |
Housing Distribution
Address Breakdown
Residential
19,734
Single Family
14,377
Multi-Family
5,357
Businesses
2,533
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