318 Lake Marina Ave APT 218New OrleansLA70124
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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 318 Lake Marina Ave APT 218, New Orleans, LA, 70124 earns $152/mo cash flow from $1,459/mo rent with a $1,033/mo payment. Total monthly income totals $1,459/mo, and annual cash flow totals $1,820/yr on $69,947 capital. ROI tracks 22.51% on current figures, and rental yield reads 8.3% at a $211,000 purchase. Equity gained on principal adds $1,362/yr, and 5% annual appreciation supports $58,295 over five years. Five-year ROI reaches 116.82% and total cumulative return in cash sums $81,713. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,459/mo property income instead of your personal income.
Condo
Built in 1976
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70124, New Orleans, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,174 (100%) |
| Owner Occupied HU | 6,916 (68.0%) |
| Renter Occupied HU | 2,432 (23.9%) |
| Vacant Housing Units | 826 ( 8.1%) |
| Median Home Value | $588,858 |
| Average Home Value | $647,212 |
Housing Distribution
Address Breakdown
Residential
10,313
Single Family
9,693
Multi-Family
620
Businesses
329
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Listed by: Jane Hicks • Compass Westbank (LATT10)
Mls Name: GSREIN
Mls ID: #2525155