1040 Melody DrMetairieLA70002
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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 Metairie at 1040 Melody Dr, Metairie, LA, 70002 generates $3,711/mo in rent and, after a $2,887/mo payment, leaves $57/mo in cash flow. Total monthly income is $3,711/mo, and annual cash flow is $686/yr on $194,077 invested. Return on cash invested sits at 20.41% in year one, and rental yield is 7.55% on a $589,900 entry. Equity gained on principal adds $3,807/yr, while 5% annual appreciation builds toward $162,978 over five years. Five-year ROI reaches 105.53% and total cumulative return in cash sums $204,813. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,711/mo property income rather than buyer’s personal income.
Single Family
Built in 1961
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70002, Metairie, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,572 (100%) |
| Owner Occupied HU | 4,532 (47.3%) |
| Renter Occupied HU | 4,178 (43.6%) |
| Vacant Housing Units | 862 ( 9.0%) |
| Median Home Value | $392,874 |
| Average Home Value | $433,147 |
Housing Distribution
Address Breakdown
Residential
9,473
Single Family
5,506
Multi-Family
3,967
Businesses
2,303
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Listed by: Lisa Nunez • Homesmart Realty South
Mls Name: GSREIN
Mls Provider:
Mls ID: #2468274
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