701 S College Rd APT 307LafayetteLA70503
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeHigh DSCR is a competitive advantage at closing. 701 S College Rd APT 307, Lafayette, LA, 70503 in Lafayette achieves 1.79, rent of $885/mo covers the $495/mo payment 1.5x over at $110,000. Rental yield 9.65%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $30,391 over five years, with $1,013/yr in principal reduction bringing total projected return to $29,173.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.7% | 5.2% |
| Monthly Cash Flow | $(224) | $1,850 |
City averages based on Lafayette market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $885 |
| Total Monthly Debt Service | $1,065 |
| DSCR Ratio | 0.83x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1982
N/A lot
$N/A/sqft
$404 monthly HOA
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
Condo
Built in 1982
N/A lot
$N/A/sqft
$404 monthly HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: David Adams • Keller Williams Realty Acadiana
Mls Name: RAA
Mls Provider:
Mls ID: #24011266
Disclaimer: The data relating to real estate for sale on this web site comes in part from the IDX Program of the REALTOR Association of Acadiana MLS. IDX information is provided exclusively for consumers' 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 deemed reliable, but not guaranteed accurate. Data last updated 2024-02-12 10:51:22 PST