3013 Ridgelake Dr APT 201MetairieLA70002
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
Investment property for sale in Metairie at 3013 Ridgelake Dr APT 201, Metairie, LA, 70002 offers a 9.47% rental yield on a $145,000 purchase with $1,144/mo rent. Total monthly income registers $1,144/mo, and a $710/mo payment leaves $246/mo available for distribution. Annual cash flow reaches $2,946/yr on $48,068 to close, and return on cash invested stands at 26.04% in year one. Equity gained on principal adds $936/yr while 5% annual appreciation supports $40,061 over five years. Portfolio math shows five-year ROI at 135.75% and total cumulative return in cash at $65,252. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,144/mo property income against a $710/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1978
1,306 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices