2608-2610 Ridgefield Dr · Metairie, LA 70003

$260,000

4 bd · 2.0 ba · 2,000 sqft · MultiFamily · 17 Days on market

Built 1964 Est $260k · at est.

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +28.4/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +4.4/5.0
• Rent growth +3.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Long time owner of 38 years of this well maintained all brick double. This is a hugely popular rental location, Linwood Manor Subdivision-super convenient to many types of businesses in the area. Also walking distance to Lafreniere Park- Both sides are currently leased to long-term tenants who wish to remain, making this an ideal opportunity for investors or first time buyers seeking rental income. Each unit features two nice size bedrooms, one bathroom, a spacious living room, and a combined kitchen/dining area, with gas stove provided by owner -inside laundry area, a one-car carport ,rear backyard, insulated windows, 2 separate meters, Central Air & Heat 8 years old, roof 6 years old. Seller has a termite certificate provided from recent inspections done on 5/27/26. Rents could be higher but seller has not raised rents for quite some time. One unit the bathroom has been renovated - the other has not been renovated. All under ground plumbing has been re-done 2/26/26 & comes with a 7 year transferable warranty. Each unit has gas or electric hookups for washer & dryer. Seller only provides the gas stove-no other appliances.

Key facts

• Inside laundry area
• One car carport
• Rear backyard

Tags

• SPACIOUS LIVING ROOM
• COMBINED KITCHEN DINING AREA
• GAS STOVE PROVIDED BY OWNER
• INSIDE LAUNDRY AREA
• ONE CAR CARPORT
• REAR BACKYARD

Property features AI

Finance

• Financial info: Two-unit multifamily property; Unit 2610: ~1,000 sq ft, rent $1,000 (actual); Unit 2608: ~1,000 sq ft, rent $1,100 (actual); Tenants pay electricity, gas, and water

Exterior

• Parking: Covered carport with one space
• Utilities: Public water; Public sewer
• Home design: Single-story building
• Construction: Brick construction; Shingle roof; Slab foundation; Built in very good condition
• Exterior features: City lot; Rectangular lot; Lot dimensions approximately 57 x 105

Interior

• Kitchen: Appliances not specified
• Bedrooms: Each unit has 2 bedrooms (Units 2608 and 2610)
• Bathrooms: Each unit has 1 full bathroom (2 total)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Two separate units on the same lot; Very good condition
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive. Per door: $208/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $256k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 3.6% in Metairie — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 87/100 on livability (#1 in LA, #261 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• Jefferson Parish (suburban): math 24% / reading 34% proficiency, ranked #44 of 98 in LA (top 45%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.1%/yr); 224 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• At $3,177/mo this rent would consume 50% of the median local household income ($76k/yr) (locally 710% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $66k; list at $260k implies a 294% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $256,100 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 10.18%
• Cash-on-cash: 13.88%
• DSCR: 1.62
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $260,000
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2721-23 Longwood Dr	0.07mi	4/2.0	2,035 (+2%)	2mo	$235,000	$115	92
2828-30 Oak Grove Dr	0.16mi	4/2.0	1,996 (-0%)	6mo	$245,000	$123	87
2729 Longwood Dr	0.09mi	3/3.0 (-1)	2,065 (+3%)	1mo	$275,000	$133	80
2804 06 Oak Grove Dr	0.16mi	4/2.0	1,900 (-5%)	15mo	$247,000	$130	72
6480 Marcie St	0.50mi	4/2.0	2,000 (0%)	17mo	$244,000	$122	62
2601 03 Ridgefield Dr	0.03mi	4/2.0	1,715 (-14%)	24mo	$259,000	$151	55
2601-03 Ridgefield Dr	0.03mi	4/—	1,715 (-14%)	24mo	$259,000	$151	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.15% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.75×
• Total profit: $-18,115
• Equity at exit: $38,767

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $8,391
• Equity at exit: $22,480

Cash invested: $72,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Louisiana: 90 Strongly Landlord-Friendly · R+12
• County: — inherits STATE
• City: — inherits STATE

5-day notice; no state rent control; civil-law jurisdiction; landlord-favorable.

Methodology + full state rankings →

ZIP-level market 70003

• Rents YoY: 2.1%
• Active inventory: 224
• Price-to-rent: 13.6×

Monthly cashflow live

• Estimated rent: $3,177 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$196 /mo · $2,349/yr
• Insurance: −$108
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$667
• Net cashflow: $416

Break-even live

Break-even rent $2,651

Max offer price $260,000

Occupancy floor 82%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,178
Total (2 units)			$3,177

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6908 Christine St Metairie, LA	3.0	2.0	1550	$2,000	$1.29	14d	1	0.40mi
6908 Christine St Metairie, LA	3.0	2.0	1550	$2,100	$1.35	23d	1	0.40mi
2012 Airline Park Blvd Metairie, LA	3.0	2.0	1583	$2,100	$1.33	23d	1	0.59mi
1712 Abadie Ave Metairie, LA	4.0	2.0	1900	$2,750	$1.45	23d	1	0.83mi
6501 Ithaca St Metairie, LA	3.0	2.0	2400	$2,900	$1.21	43d	1	0.95mi
1001 Minnesota Ave Kenner, LA	3.0	2.0	1800	$2,100	$1.17	43d	1	1.04mi
808 Cynthia Ave Metairie, LA	3.0	2.0	1500	$2,100	$1.40	14d	1	1.04mi
1808 Elise Ave Metairie, LA	3.0	2.0	1508	$2,100	$1.39	23d	1	1.10mi
3228 Lake Trail Dr Metairie, LA	5.0	2.5	2655	$2,950	$1.11	4d	1	1.12mi
3908 Page Dr Metairie, LA	3.0	1.5	1470	$1,850	$1.26	44d	1	1.15mi
3224 Massachusetts Ave Kenner, LA	4.0	2.0	2070	$2,750	$1.33	1d	1	1.15mi
7116 Wilty St Metairie, LA	3.0	2.0	1722	$2,300	$1.34	4d	1	1.15mi
1108 Cardinal Ave Metairie, LA	4.0	2.0	1903	$2,650	$1.39	43d	1	1.18mi
4312 Tartan Dr Metairie, LA	4.0	2.0	1500	$2,150	$1.43	23d	1	1.21mi
4112 Henican Pl Metairie, LA	3.0	2.0	1750	$2,000	$1.14	23d	1	1.21mi
1216 Hymelia Ave Metairie, LA	4.0	2.0	1400	$3,500	$2.50	4d	1	1.27mi
3101 Kansas Ave Kenner, LA	3.0	2.0	1500	$2,000	$1.33	14d	1	1.34mi
5029 Loveland St Metairie, LA	3.0	2.0	2100	$2,500	$1.19	4d	1	1.35mi
6016 Loraine St Metairie, LA	3.0	1.0	1600	$1,950	$1.22	2d	1	1.36mi
216 Trudeau Dr Metairie, LA	4.0	3.0	1825	$2,800	$1.53	4d	1	1.43mi
2 Schill Ave Kenner, LA	4.0	2.0	2026	$2,500	$1.23	4d	1	1.47mi
4409 Saint Martin St Metairie, LA	3.0	2.0	1576	$2,100	$1.33	43d	1	1.47mi
703 Linden St Metairie, LA	3.0	2.0	1650	$2,500	$1.52	19d	1	1.47mi
5104 W Esplanade Ave Metairie, LA	3.0	2.0	1455	$1,675	$1.15	43d	1	1.49mi

Listing history 12 events

1. 2026-06-18
   days on market $260,000 Active 17 DOM
2. 2026-06-17
   days on market $260,000 Active 16 DOM
3. 2026-06-16
   days on market $260,000 Active 15 DOM
4. 2026-06-15
   days on market $260,000 Active 14 DOM
5. 2026-06-13
   days on market $260,000 Active 12 DOM
6. 2026-06-10
   days on market $260,000 Active 9 DOM
7. 2026-06-09
   days on market $260,000 Active 8 DOM
8. 2026-06-08
   days on market $260,000 Active 7 DOM
9. 2026-06-07
   days on market $260,000 Active 6 DOM
10. 2026-06-03
    days on market $260,000 Active 2 DOM
11. 2026-06-02
    remarks 695-char remark
12. 2026-06-02
    listed $260,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast LA · Resets to sale price

• Current annual tax: $2,349 · $196/mo
• Projected year-2 tax: $2,349 · $196/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,124
• − Mortgage interest: −$14,564
• − Property taxes: −$2,349
• − Insurance: −$6,418
• − Repairs & maintenance: −$3,050
• − Management: −$3,050
• − Depreciation: −$7,564
• Taxable income: $1,129
• Est. tax owed @ 24.0%: −$271
• After-tax cash flow: $4,718/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Jefferson Parish
• NCES district ID: 2200840
• Math proficiency: 24% ▼ -36.00%
• Reading proficiency: 34% ▼ -30.00%
• Median HH income: $48,421
• Composite: 25.19/100
• National rank: #7511
• State rank: #44 of 98 in LA

Livability — Metairie

• Score: 87/100
• State rank: #1
• US rank: #261

Category grades

Amenities A- Commute A+ Cost of living B+ Crime B Employment B- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Metairie, LA
• County: Jefferson Parish · 426,999 people
• City population: 137,978
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 39,344
• Household income: $76,261
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 710.0

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 451,696 people
• By 2030: 455,451 · +0.8%
• By 2040: 458,308 · +1.5%
• By 2050: 461,031 · +2.1%
• By 2075: 476,351 · +5.5%
• By 2100: 499,377 · +10.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Two or more races 12% Black 8% Asian 5%
• Hispanic origin (detail): Mexican 3% Cuban 1%
• Common ancestry: Lithuanian 12% Scotch-Irish 1% Slovak 1%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 12% Other Indo-European 3% Arabic 1%

Political lean MEDSL · Jefferson

• 2024 margin: R (+12.9) · D 42.5% · R 55.5% · Other 2.1%
• 2008→2024 swing: +13.6pp toward D · 2008: -26.6pp · 2024: -12.9pp
• All cycles: 2024: R+12.9 2020: R+11.1 2016: R+14.8 2012: R+18.4 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -252.03%
• Current HPI: 138.5632
• Rent YoY: ▲ 2.15%
• Metro: New Orleans-Metairie, LA
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

Industry mix (Fortune 500 HQ in LA)

Industry	F500 HQs	Revenue
▸Telecommunications	2	$23B
▸Utilities	1	$12B
▸Wholesale / Distribution	1	$5B
▸Advertising	1	$2B

Price history

+293.9% since first listed

3 events — show timeline

• 2026-06-01 Listed $260,000 AcadianaMLS
• 2026-06-01 Listed $260,000 GSREIN
• 1989-11-01 Sold (Public Records) $66,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $2,349 · +0.2% YoY. Source: county tax records.