741 Esplanade Ave APT 7New OrleansLA70116
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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 New Orleans at 741 Esplanade Ave APT 7, New Orleans, LA, 70116 generates $1,535/mo in rent and, after a $954/mo payment, leaves $328/mo in cash flow. Total monthly income is $1,535/mo, and annual cash flow is $3,932/yr on $64,609 invested. Return on cash invested sits at 25.99% in year one, and rental yield is 9.45% on a $194,900 entry. Equity gained on principal adds $1,258/yr, while 5% annual appreciation builds toward $53,847 over five years. Five-year ROI reaches 135.5% and total cumulative return in cash sums $87,543. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,535/mo property income rather than buyer’s personal income.
Condo
Built in 1867
374.62 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70116, New Orleans, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,811 (100%) |
| Owner Occupied HU | 2,243 (22.9%) |
| Renter Occupied HU | 4,387 (44.7%) |
| Vacant Housing Units | 3,181 (32.4%) |
| Median Home Value | $456,334 |
| Average Home Value | $578,875 |
Housing Distribution
Address Breakdown
Residential
8,406
Single Family
6,376
Multi-Family
2,030
Businesses
902
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Listed by: MaryMargaret Kean • Coldwell Banker TEC MAGAZINE
Mls Name: GSREIN
Mls ID: #2537691