318 Lake Marina Ave APT 312New 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
Rental property for sale in New Orleans at 318 Lake Marina Ave APT 312, New Orleans, LA, 70124 generates $1,852/mo in rent and, after a $827/mo payment, leaves $400/mo in cash flow. Total monthly income is $1,852/mo, and annual cash flow is $4,796/yr on $56,024 invested. Return on cash invested sits at 28.47% in year one, and rental yield is 13.15% on a $169,000 entry. Equity gained on principal adds $1,091/yr, while 5% annual appreciation builds toward $46,692 over five years. Five-year ROI reaches 151.92% and total cumulative return in cash sums $85,111. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,852/mo property income rather than buyer’s personal income.
Condo
Built in 2017
1.43 Acres lot
$N/A/sqft
$310 monthly 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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