6613 Memphis StNew OrleansLA70124
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
Investment Highlights
Rental property for sale in New Orleans at 6613 Memphis St, New Orleans, LA, 70124 priced at $655,000 pairs $4,386/mo rent with $329/mo cash flow after a $3,206/mo payment. Total monthly income equals $4,386/mo, and annual cash flow comes to $3,942/yr on $215,495 invested. Return on cash invested is 21.89% in year one, and rental yield stands at 8.04% on a $655,000 basis. Equity gained on principal adds $4,227/yr, and 5% annual appreciation accumulates to $180,964 by year five. Five-year ROI measures 113.44% and total cumulative return in cash reaches $244,463. For financing, Ziffy Mortgage’s DSCR program evaluates $4,386/mo property income against a $3,206/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 2008
6,098 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: Lindsay Krieger • The Agency of M. Grass Group, LLC
Mls Name: GSREIN
Mls ID: #2535291