3013 Ridgelake Dr APT 207MetairieLA70002
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 3013 Ridgelake Dr APT 207, Metairie, LA, 70002 in Metairie speaks for itself: 12.54% gross on a $156,300 price, generating $1,633/mo in rent and $598/mo in net income after the $703/mo debt service. DSCR 2.32, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $7,180 stacks alongside $43,183 in projected five-year appreciation and $1,440/yr in principal reduction. Projected total cumulative return: $98,089.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.5% | 5.4% |
| Monthly Cash Flow | $598 | $185 |
City averages based on Metairie market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,633 |
| Total Monthly Debt Service | $973 |
| DSCR Ratio | 1.68x |
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.
Townhouse
Built in N/A
N/A 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
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
Townhouse
Built in N/A
N/A 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