59 Spanish Fort BlvdNew 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 59 Spanish Fort Blvd, New Orleans, LA, 70124 offers $3,840/mo rent that, after a $6,975/mo payment. Total monthly income is $3,840/mo. Return on cash invested measures 7.15% in year one, and rental yield stands at 3.23% at a $1,425,000 entry. Equity gained on principal adds $9,195/yr while 5% annual appreciation compounds into $393,701 by year five. Five-year ROI records 34.45% and total cumulative return in cash reaches $159,044. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,840/mo property income versus a $6,975/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 2000
6,250 sqft 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: GiGi Gaubert Burk • Burk Brokerage, LLC
Mls Name: GSREIN
Mls Provider:
Mls ID: #2515533
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.