1516 Ridgelake DrMetairieLA70001
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
Investment Highlights
Rental property for sale in Metairie at 1516 Ridgelake Dr, Metairie, LA, 70001 priced at $365,000 pairs $2,766/mo rent with $481/mo cash flow after a $1,786/mo payment. Total monthly income equals $2,766/mo, and annual cash flow comes to $5,767/yr on $120,998 invested. Return on cash invested is 24.67% in year one, and rental yield stands at 9.09% on a $365,000 basis. Equity gained on principal adds $2,355/yr, and 5% annual appreciation accumulates to $100,843 by year five. Five-year ROI measures 128.51% and total cumulative return in cash reaches $155,491. For financing, Ziffy Mortgage’s DSCR program evaluates $2,766/mo property income against a $1,786/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in N/A
5,400 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70001, Metairie, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,123 (100%) |
| Owner Occupied HU | 8,964 (44.5%) |
| Renter Occupied HU | 9,454 (47.0%) |
| Vacant Housing Units | 1,705 ( 8.5%) |
| Median Home Value | $339,838 |
| Average Home Value | $407,426 |
Housing Distribution
Address Breakdown
Residential
19,374
Single Family
13,074
Multi-Family
6,300
Businesses
1,480
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices