514 Mill StLake CharlesLA70601
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 514 Mill St, Lake Charles, LA, 70601 in Lake Charles at $287,500 earns $2,209/mo in rent and nets $185/mo after the $1,293/mo payment, a 9.22% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $79,431 over five years. Ziffy Mortgage underwrites this on a 1.71 DSCR without U.S. credit history. With $2,648/yr in principal paydown, total projected return reaches $130,587.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.2% | 9.2% |
| Monthly Cash Flow | $185 | $850 |
City averages based on Lake Charles market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,209 |
| Total Monthly Debt Service | $1,767 |
| DSCR Ratio | 1.25x |
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 2018
2,178 sqft lot
$N/A/sqft
$100 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70601, Lake Charles, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,418 (100%) |
| Owner Occupied HU | 7,352 (44.8%) |
| Renter Occupied HU | 6,909 (42.1%) |
| Vacant Housing Units | 2,157 (13.1%) |
| Median Home Value | $191,938 |
| Average Home Value | $292,149 |
Housing Distribution
Address Breakdown
Residential
13,724
Single Family
12,609
Multi-Family
1,115
Businesses
2,035
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 2018
2,178 sqft lot
$N/A/sqft
$100 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70601, Lake Charles, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,418 (100%) |
| Owner Occupied HU | 7,352 (44.8%) |
| Renter Occupied HU | 6,909 (42.1%) |
| Vacant Housing Units | 2,157 (13.1%) |
| Median Home Value | $191,938 |
| Average Home Value | $292,149 |
Housing Distribution
Address Breakdown
Residential
13,724
Single Family
12,609
Multi-Family
1,115
Businesses
2,035
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Larry Turner • Century 21 Bessette Realty
Mls Name: Greater Southern MLS
Mls ID: #SWL24003532