77063 S Fitzmorris RdCovingtonLA70435
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderInvestors who treat current yield as secondary to long-run equity growth will find 77063 S Fitzmorris Rd, Covington, LA, 70435 in Covington worth modelling. At $498,000 with a 7.69% gross yield, the $3,192/mo rent leaves $73/mo after the $2,239/mo payment, sufficient to cover costs, modest in distribution. Ziffy Mortgage's 1.43 DSCR loan can finance the acquisition without personal income documentation. Appreciation of 5%/yr is projected to add $137,588 by year five; $4,587/yr in principal reduction adds further equity. Total projected return: $195,774.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.7% | 5.4% |
| Monthly Cash Flow | $73 | $420 |
City averages based on Covington market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,192 |
| Total Monthly Debt Service | $2,887 |
| DSCR Ratio | 1.11x |
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 1999
4.36 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70435, Covington, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,191 (100%) |
| Owner Occupied HU | 7,325 (79.7%) |
| Renter Occupied HU | 1,215 (13.2%) |
| Vacant Housing Units | 651 ( 7.1%) |
| Median Home Value | $329,233 |
| Average Home Value | $370,132 |
Housing Distribution
Address Breakdown
Residential
9,041
Single Family
9,041
Multi-Family
0
Businesses
248
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 1999
4.36 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70435, Covington, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,191 (100%) |
| Owner Occupied HU | 7,325 (79.7%) |
| Renter Occupied HU | 1,215 (13.2%) |
| Vacant Housing Units | 651 ( 7.1%) |
| Median Home Value | $329,233 |
| Average Home Value | $370,132 |
Housing Distribution
Address Breakdown
Residential
9,041
Single Family
9,041
Multi-Family
0
Businesses
248
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Skip Scoggin • Scoggin Properties, Inc.
Mls Name: Greater Southern MLS
Mls ID: #NAB24007278
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.