7 Wax Myrtle LnCovingtonLA70433
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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 Covington at 7 Wax Myrtle Ln, Covington, LA, 70433 generates $2,760/mo in rent, after a $5,017/mo payment. Total monthly income is $2,760/mo. Return on cash invested sits at 7.4% in year one, and rental yield is 3.23% on a $1,025,000 entry. Equity gained on principal adds $6,614/yr, while 5% annual appreciation builds toward $283,189 over five years. Five-year ROI reaches 35.68% and total cumulative return in cash sums $118,480. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,760/mo property income rather than buyer’s personal income.
Single Family
Built in 2011
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70433, Covington, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,359 (100%) |
| Owner Occupied HU | 12,755 (65.9%) |
| Renter Occupied HU | 5,168 (26.7%) |
| Vacant Housing Units | 1,436 ( 7.4%) |
| Median Home Value | $362,329 |
| Average Home Value | $432,167 |
Housing Distribution
Address Breakdown
Residential
19,248
Single Family
16,319
Multi-Family
2,929
Businesses
2,215
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