3032 Spain StNew OrleansLA70122
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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 3032 Spain St, New Orleans, LA, 70122 uses $53,040 cash to close to unlock $8,040/yr annual cash flow and $670/mo monthly cash flow. Total monthly income runs $1,661/mo, and a $783/mo payment keeps the spread at $670/mo. Purchase price stands at $160,000, and rental yield measures 12.46% with $1,661/mo rent. Return on cash invested shows 35.07% in year one, and 5% annual appreciation builds toward $44,205 over five years. Five-year ROI reaches 184.12% and total cumulative return in cash records $97,658. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,661/mo property income covering a $783/mo payment rather than investor’s personal income.
Multi Family
Built in 1930
5,300 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70122, New Orleans, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,874 (100%) |
| Owner Occupied HU | 9,079 (53.8%) |
| Renter Occupied HU | 6,021 (35.7%) |
| Vacant Housing Units | 1,774 (10.5%) |
| Median Home Value | $292,225 |
| Average Home Value | $345,976 |
Housing Distribution
Address Breakdown
Residential
16,212
Single Family
15,328
Multi-Family
884
Businesses
521
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