71238 Shady Lake DrCovingtonLA70433
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowIf cash-on-cash performance is your primary filter, 71238 Shady Lake Dr, Covington, LA, 70433 in Covington deserves attention. This $245,000 property earns $2,046/mo in rent, a 11.7% gross yield, and nets $870/mo after the $1,102/mo payment. DSCR 1.86 makes it one of the cleaner DSCR underwriting candidates Ziffy Mortgage sees in this market. Five-year appreciation of $67,689 compounds alongside $2,256/yr in yearly equity build, for a total cumulative return of $126,916.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.7% | 5.4% |
| Monthly Cash Flow | $870 | $420 |
City averages based on Covington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,046 |
| Total Monthly Debt Service | $1,420 |
| DSCR Ratio | 1.44x |
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.
Single Family
Built in 2005
9,622 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
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
Single Family
Built in 2005
9,622 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sonnie Harmon • Keller Williams Realty Services
Mls Name: GSREIN
Mls Provider:
Mls ID: #2499208
Disclaimer: IDX information is provided exclusively for 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 is deemed reliable but not guaranteed.