638 Iris StLake CharlesLA70601
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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 Lake Charles at 638 Iris St, Lake Charles, LA, 70601 offers $2,477/mo rent that, after a $3,891/mo payment. Total monthly income is $2,477/mo. Return on cash invested measures 8.83% in year one, and rental yield stands at 3.74% at a $795,000 entry. Equity gained on principal adds $5,130/yr while 5% annual appreciation compounds into $219,644 by year five. Five-year ROI records 43.41% and total cumulative return in cash reaches $113,542. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,477/mo property income versus a $3,891/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1986
0.68 Acres lot
$N/A/sqft
No 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
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Listed by: Drusilla Ellender • Coldwell Banker Ingle Safari R
Mls Name: Greater Southern MLS
Mls ID: #SWL24007148