309 E 5th AveCovingtonLA70433
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeReliable, bankable, and well-priced, 309 E 5th Ave, Covington, LA, 70433 in Covington delivers $3,566/mo in gross rent and $840/mo in net monthly income at a $440,000 entry. The 9.73% yield and 1.80 DSCR make it a clean candidate for Ziffy Mortgage's DSCR loan; no W-2s or U.S. credit history required. With 5% annual appreciation projecting $121,564 over five years and $4,052/yr in equity from loan paydown, total projected return is $220,901.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.7% | 5.4% |
| Monthly Cash Flow | $840 | $420 |
City averages based on Covington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,566 |
| Total Monthly Debt Service | $2,551 |
| DSCR Ratio | 1.40x |
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.
Single Family
Built in 1959
0.43 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70433, Covington, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,359 (100%) |
| Owner Occupied HU | 12,755 (65.9%) |
| Renter Occupied HU | 5,168 (26.7%) |
| Vacant Housing Units | 1,436 ( 7.4%) |
| Median Home Value | $362,329 |
| Average Home Value | $432,167 |
Housing Distribution
Address Breakdown
Residential
19,248
Single Family
16,319
Multi-Family
2,929
Businesses
2,215
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
Single Family
Built in 1959
0.43 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70433, Covington, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,359 (100%) |
| Owner Occupied HU | 12,755 (65.9%) |
| Renter Occupied HU | 5,168 (26.7%) |
| Vacant Housing Units | 1,436 ( 7.4%) |
| Median Home Value | $362,329 |
| Average Home Value | $432,167 |
Housing Distribution
Address Breakdown
Residential
19,248
Single Family
16,319
Multi-Family
2,929
Businesses
2,215
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Alexander Champagne • Thrive Real Estate LLC
Mls Name: GSREIN
Mls Provider:
Mls ID: #2491360
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.