6703 Patterson RdNew OrleansLA70131
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 6703 Patterson Rd, New Orleans, LA, 70131 priced at $185,000 pairs $1,429/mo rent with $284/mo cash flow after a $905/mo payment. Total monthly income equals $1,429/mo, and annual cash flow comes to $3,402/yr on $61,328 invested. Return on cash invested is 25.46% in year one, and rental yield stands at 9.27% on a $185,000 basis. Equity gained on principal adds $1,194/yr, and 5% annual appreciation accumulates to $51,112 by year five. Five-year ROI measures 132.63% and total cumulative return in cash reaches $81,339. For financing, Ziffy Mortgage’s DSCR program evaluates $1,429/mo property income against a $905/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 2000
4,888 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70131, New Orleans, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,878 (100%) |
| Owner Occupied HU | 6,671 (56.2%) |
| Renter Occupied HU | 4,083 (34.4%) |
| Vacant Housing Units | 1,124 ( 9.5%) |
| Median Home Value | $251,942 |
| Average Home Value | $315,137 |
Housing Distribution
Address Breakdown
Residential
11,262
Single Family
8,528
Multi-Family
2,734
Businesses
223
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Listed by: Allie Reese • Reese & Company Real Estate, LLC
Mls Name: GSREIN
Mls ID: #2529438