3200 Ridgeway DrMetairieLA70002
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderTight but positive: 3200 Ridgeway Dr, Metairie, LA, 70002 in Metairie at $419,000 earns $2,732/mo in rent and nets $137/mo after the $1,884/mo payment, a 7.83% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $115,762 over five years. Ziffy Mortgage underwrites this on a 1.45 DSCR without U.S. credit history. With $3,859/yr in principal paydown, total projected return reaches $167,721.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.8% | 5.4% |
| Monthly Cash Flow | $137 | $185 |
City averages based on Metairie market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,732 |
| Total Monthly Debt Service | $2,429 |
| DSCR Ratio | 1.12x |
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 1969
6,060 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
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 1969
6,060 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