350 Emerald Forest Blvd APT 30105CovingtonLA70433
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe headline number at 350 Emerald Forest Blvd APT 30105, Covington, LA, 70433 in Covington is the 1.74 coverage ratio: rent of $1,141/mo versus a $657/mo debt payment on a $146,000 property. Rental yield 9.65%. That margin is what gives Ziffy Mortgage's DSCR loan the coverage it needs for a clean, fast approval, no W-2s, no U.S. residency. Appreciation at 5%/yr projects $40,337 by year five, with $1,345/yr in equity from paydown. Total projected cumulative return: $41,499.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.7% | 5.4% |
| Monthly Cash Flow | $(215) | $420 |
City averages based on Covington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,141 |
| Total Monthly Debt Service | $1,331 |
| DSCR Ratio | 0.86x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 2007
N/A 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
Condo
Built in 2007
N/A 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: Diane Rohr • LATTER & BLUM (LATT27)
Mls Name: GSREIN
Mls Provider:
Mls ID: #2500559
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.