7024 Northgate DrNew OrleansLA70128
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe cash-flow margin at 7024 Northgate Dr, New Orleans, LA, 70128 in New Orleans is narrow, $136/mo net on $768/mo rent after the $459/mo debt service, but the property operates at break-even-plus, not a loss. At $102,000 with a 9.04% yield, the long-run equity case via 5% appreciation ($28,181 over five years) and $939/yr in principal paydown is where the returns accumulate. Ziffy Mortgage's 1.67 DSCR loan requires no W-2s or U.S. credit. Total projected cumulative return: $47,450.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9% | 5.2% |
| Monthly Cash Flow | $136 | $850 |
City averages based on New Orleans market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $768 |
| Total Monthly Debt Service | $591 |
| DSCR Ratio | 1.30x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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.
Townhouse
Built in 1980
2,352 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70128, New Orleans, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,480 (100%) |
| Owner Occupied HU | 4,460 (59.6%) |
| Renter Occupied HU | 2,241 (30.0%) |
| Vacant Housing Units | 779 (10.4%) |
| Median Home Value | $242,435 |
| Average Home Value | $291,626 |
Housing Distribution
Address Breakdown
Residential
7,332
Single Family
6,256
Multi-Family
1,076
Businesses
144
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
Townhouse
Built in 1980
2,352 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70128, New Orleans, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,480 (100%) |
| Owner Occupied HU | 4,460 (59.6%) |
| Renter Occupied HU | 2,241 (30.0%) |
| Vacant Housing Units | 779 (10.4%) |
| Median Home Value | $242,435 |
| Average Home Value | $291,626 |
Housing Distribution
Address Breakdown
Residential
7,332
Single Family
6,256
Multi-Family
1,076
Businesses
144
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Michael Gibson • Supreme
Mls Name: GSREIN
Mls ID: #2541281