6200 Riverside Dr #500 · Metairie, LA 70003

$66,900

2 bd · 1.0 ba · 968 sqft · Condo · 3 Days on market

Built 1980 $472/mo HOA · 36% of rent

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Why this score? — see what drove the C+ 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 +23.5/30.0
• 1% rule +10.0/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks MLS

Ideally located in the heart of Metairie, this move-in-ready 2-bedroom, 1-bath condo offers nearly 1,000 square feet of comfortable, efficiently designed living space. Enjoy convenient access to I-10, Veterans Memorial Boulevard, Lakeside Shopping Center, the airport, downtown New Orleans, and an abundance of nearby dining and shopping. Whether you are seeking a primary residence or investment opportunity, this well-located condo delivers comfort, convenience, and excellent accessibility. Key features include: Just under 1,000 square feet of living space 2 bedrooms 1 full bathroom Convenient Metairie location Close to shopping and major transportation routes Easy access to Veterans Boulevard and I10

Key facts

• Access to i10
• Metairie location
• Close to shopping

Tags

• METAIRIE LOCATION
• ACCESS TO I10
• ACCESS TO VETERANS BOULEVARD
• CLOSE TO SHOPPING

Property features AI

Finance

• HOA & community: Association: Riverside Condos; HOA fee $472; HOA includes common areas, electricity, and water; Community amenities: common grounds/area and pool

Exterior

• Parking: Assigned parking available
• Utilities: Public water; Public sewer
• Home design: Condo; 1 story entry; 2 total stories in building; Facing: N/A
• Construction: Brick construction; Shingle roof; Slab foundation; Property in excellent condition
• Exterior features: Balcony; City lot setting; Community in-ground pool

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Total rooms: 4
• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit heating; Window unit cooling
• Interior features: Pantry
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $67k.

Deal economics

• At list price, monthly cash flow is $-302 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $14k (79.6% below list).
• Meets the 1% rule at list price ($1k rent vs $67k).
• Recommended offer: $14k (79.6% below list) — sets the bar for cash-flow.
• Cap rate 8.5% 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.
• Zoned schools: Bissonet Plaza School (math 18% / reading 32%, grade F, #381 of 646 statewide, top 59%, 658 students, 60% FRL); John Q. Adams Middle School (math 22% / reading 36%, grade F, #117 of 218 statewide, top 54%, 900 students, 55% FRL); Grace King High School (math 16% / reading 23%, grade F, #186 of 265 statewide, top 73%, 1,463 students, 47% FRL) — zoned schools average 54% FRL vs 70% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.1%/yr); 227 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $463 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 18y ago 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 $55k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 36% of rent.
• 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 $13,619 (79.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.94% ✓
• Cap rate: 8.53%
• Cash-on-cash: 8.00%
• DSCR: 1.36
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -58.4%
• Equity multiple: -0.63×
• Total profit: $-30,601
• Equity at exit: $9,975

10-year hold

• IRR: —
• Equity multiple: -1.86×
• Total profit: $-53,588
• Equity at exit: $5,784

Cash invested: $18,732 (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: 227
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,301 high
• Mortgage (P&I): −$351
• Tax from tax record: −$52 /mo · $623/yr
• Insurance: −$28
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$472
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $-302

Break-even live

Break-even rent $1,683

Max offer price $13,619

Occupancy floor —

Sensitivity live

Price	-10% $-264	-5% $-283	+0% $-302	+5% $-321	+10% $-339
Rent	-10% $-404	-5% $-353	+0% $-302	+5% $-250	+10% $-199
Rate	-1.0pp $-268	-0.5pp $-285	base $-302	+0.5pp $-319	+1.0pp $-337

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: $16,725
• Closing costs: $2,007
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6200 Riverside Dr #626 Metairie, LA	2.0	2.0	1100	$1,450	$1.32	25d	1	0.03mi
3535 Apollo Dr Apt 233M Metairie, LA	2.0	1.0	897	$1,120	$1.25	23d	1	0.07mi
3535 Apollo Dr Apt 236M Metairie, LA	2.0	1.0	968	$1,165	$1.20	45d	1	0.07mi
3535 Apollo Dr Apt 352P Metairie, LA	1.0	1.0	625	$935	$1.50	23d	1	0.07mi
6220 Riverside Dr Unit 457 Metairie, LA	1.0	1.0	680	$1,150	$1.69	23d	1	0.07mi
3535 Apollo Dr Unit K220 Metairie, LA	1.0	1.0	625	$885	$1.42	16d	1	0.07mi
3535 Apollo Dr Unit M334 Metairie, LA	1.0	1.0	632	$905	$1.43	6d	1	0.07mi
6220 Riverside Dr #567 Metairie, LA	2.0	1.0	925	$1,450	$1.57	25d	1	0.07mi
6801 Veterans Blvd Metairie, LA	1.0–3.0	1.0–2.0	985	$1,314	$1.33	3d	27	0.22mi
6826 Veterans Blvd Unit 217 Metairie, LA	1.0	1.0	544	$950	$1.75	3d	1	0.39mi
6826 Veterans Blvd Unit 208 Metairie, LA	1.0	1.0	544	$960	$1.76	3d	1	0.39mi
6826 Veterans Blvd Apt 218 Metairie, LA	1.0	1.0	544	$1,020	$1.88	16d	1	0.39mi
6826 Veterans Blvd Unit 103 Metairie, LA	1.0	1.0	608	$965	$1.59	3d	1	0.39mi
6826 Veterans Blvd Apt 346 Metairie, LA	1.0	1.0	608	$975	$1.60	4d	1	0.39mi
6826 Veterans Blvd Unit 343 Metairie, LA	1.0	1.0	544	$1,025	$1.88	16d	1	0.39mi
6826 Veterans Blvd Apt 303 Metairie, LA	1.0	1.0	608	$1,035	$1.70	16d	1	0.39mi
2904 Bryant St Metairie, LA	1.0	1.0	700	$925	$1.32	6d	1	0.43mi
2806 Tugie St Metairie, LA	2.0	1.0	900	$1,400	$1.56	5d	1	0.50mi
3209 Roberta St Apt 9 Metairie, LA	2.0	1.5	848	$1,310	$1.54	5d	1	0.53mi
2804 Longwood Dr Unit C Metairie, LA	1.0	1.0	667	$975	$1.46	25d	1	0.59mi
2529 Wytchwood Dr Metairie, LA	1.0	1.0	700	$925	$1.32	6d	1	0.62mi
2504 Longwood Dr Unit A Metairie, LA	1.0	1.0	682	$925	$1.36	6d	1	0.71mi
3400 Kent Ave Metairie, LA	1.0	1.0	678	$980	$1.44	3d	13	0.79mi
3413 Kent Ave Apt 2 Metairie, LA	2.0	1.0	768	$1,250	$1.63	45d	1	0.86mi
3413 Kent Ave Unit 4 Metairie, LA	2.0	1.0	768	$1,150	$1.50	25d	1	0.86mi
3413 Kent Ave Unit 4 Metairie, LA	2.0	1.0	768	$1,150	$1.50	45d	1	0.86mi
5019 Yale St Unit C Metairie, LA	2.0	2.0	900	$950	$1.06	45d	1	0.93mi
2916 Maine Ave Unit A Kenner, LA	2.0	1.5	975	$1,200	$1.23	25d	1	1.04mi
4925 Yale St Unit F Metairie, LA	2.0	1.5	1100	$1,500	$1.36	25d	1	1.07mi
4921 Yale St Unit B Metairie, LA	2.0	1.5	1100	$1,500	$1.36	45d	1	1.08mi
1709 N Atlanta St Metairie, LA	3.0	1.5	1007	$1,800	$1.79	16d	1	1.08mi
3127 Transcontinental Dr Unit 3119C Metairie, LA	2.0	1.5	1100	$1,450	$1.32	25d	1	1.09mi
3127 Transcontinental Dr Unit 3122B Metairie, LA	2.0	1.5	1100	$1,605	$1.46	5d	1	1.09mi
2609 Transcontinental Dr Unit J Metairie, LA	1.0	1.0	560	$1,100	$1.96	45d	1	1.32mi
1217 N Cumberland St Metairie, LA	3.0	1.0	1022	$2,100	$2.05	6d	1	1.42mi
2808 Harvard Ave Unit A Metairie, LA	2.0	1.5	850	$1,200	$1.41	16d	1	1.44mi
1712 Michigan Ave Kenner, LA	3.0	1.0	1068	$1,900	$1.78	46d	1	1.45mi

HOA detail condo

• Monthly dues: $472 · $5,664/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-21
   days on market $66,900 Active 3 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $66,900 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: $623 · $52/mo
• Projected year-2 tax: $623 · $52/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: $15,609
• − Mortgage interest: −$3,747
• − Property taxes: −$623
• − Insurance: −$5,453
• − Repairs & maintenance: −$1,249
• − Management: −$1,249
• − HOA: −$5,664
• − Depreciation: −$1,946
• Taxable loss: −$4,323
• Est. tax savings @ 24.0%: +$1,037
• After-tax cash flow: $-2,582/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

+123.0% since first listed

13 events — show timeline

• 2026-06-17 Listed $66,900 GSREIN
• 2026-06-17 Listed $66,900 AcadianaMLS
• 2025-04-28 Price Changed $69,900 AcadianaMLS
• 2025-04-28 Price Changed $69,900 GSREIN
• 2025-01-30 Listed $74,900 AcadianaMLS
• 2024-11-18 Listed $76,500 AcadianaMLS
• 2024-10-21 Price Changed $78,900 AcadianaMLS
• 2024-10-21 Price Changed $78,900 GSREIN
• 2024-09-15 Listed $79,900 AcadianaMLS
• 2008-04-24 Sold (MLS) $55,000 GSREIN
• 2008-02-01 Listed $62,900 GSREIN
• 2008-02-01 Listed $62,900 AcadianaMLS
• 2003-04-01 Sold (Public Records) $30,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $623 · +0.2% YoY. Source: county tax records.