350 Emerald Forest Blvd APT 1CovingtonLA70433
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowStrong cash flow defines 350 Emerald Forest Blvd APT 1, Covington, LA, 70433 in Covington: $1,578/mo in rent, $531/mo net, 14.62% gross yield, all on a $129,500 acquisition. The 2.71 coverage ratio comfortably clears Ziffy Mortgage's threshold, enabling foreign-national buyers to close without U.S. credit documentation. Over five years, 5% appreciation adds $35,778 in value, and $1,193/yr in principal paydown steadily builds equity. Projected total cumulative return: $84,368.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 14.6% | 5.4% |
| Monthly Cash Flow | $531 | $420 |
City averages based on Covington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,578 |
| Total Monthly Debt Service | $996 |
| DSCR Ratio | 1.58x |
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.
Condo
Built in 1998
N/A lot
$N/A/sqft
$245 monthly 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
Condo
Built in 1998
N/A lot
$N/A/sqft
$245 monthly 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