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$115,000

For Sale - Active
3855 Metropolitan St, New Orleans, LA 70126
3 Beds
1 Bath
1,061 Square Feet
0.00 Acres Lot
Built in 1960
For Sale - Active
Units n/a
Checked: 7 hours ago
Updated: Jun 14, 2025 at 03:07AM

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$353
Cap Rate
9.4%
Cash-on-Cash Return
16.0%
Debt Coverage Ratio
1.65
Internal Rate of Return (5 years)
19.6%

Property Description


0.00 Acres Lot
Built in 1960
For Sale - Active
Units n/a

Charming 3-Bedroom Brick Ranch in Flood Zone X – Updated Roof & HVAC Welcome to 3855 Metropolitan Street, a well-maintained, single-story brick ranch in a quiet New Orleans neighborhood. This 3-bedroom, 1-bathroom home offers 1,061 square feet of living space on a 40x80 lot and sits in Flood Zone X, with a flood insurance premium of just $1,030/year for non-owner occupants or $780/year if owner occupied. Originally built in 1960, the home features a slab foundation, shingle roof replaced approximately 1 year ago, and a central AC system with a condenser unit that is less than 1 year old. The home is solid and efficient with tile floors throughout, driveway-only parking, public water and sewer, and energy service provided by Entergy. Inside, you'll find a spacious living area, a functional kitchen, and three comfortable bedrooms—all with 8-foot ceilings. The full bathroom and utility room complete the layout, making the home ideal for owner-occupants or investors. ?? Important Note: The property owner is not entertaining any form of owner financing or subject-to offers. A pre-qualification letter or proof of funds is required with all offers. Earnest money must be submitted to the title company and received within 72 hours of seller acceptance. Located near the intersection of Tecumseh St. and Chickasaw St., this property provides easy access to major roads, public transit, and local amenities. The property owner is not interested in any subject-to-offer or owner-financing arrangements.

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Location


Property Details


Parking

  • Details: Driveway, Off Street
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Brick
  • Foundation: Slab
  • Roof Material: Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 39W804211
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch
  • Year Built: 1960

Tax Information

  • Annual Tax: $0

Utilities

  • Water & Sewer: Public
  • Heating: Central
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Orleans Parish

Listing Details


Listed by:
Braden Smith
Century 21 J. Carter & Company
(504) 621-1729

Source:
Gulf South Real Estate Information Network
MLS#: 2497966
Gulf South Real Estate Information Network

Investment Summary


Potential Missing Expenses

We noticed that property taxes are missing—this is a standard expense and should be considered in your estimate.

Monthly Cash Flow
$353
Cap Rate
9.4%
Cash-on-Cash Return
16.0%
Debt Coverage Ratio
1.65
Internal Rate of Return (5 years)
19.6%

Purchase Details

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Purchase price:
$115,000
Amount financed:
-$92,000
Down payment:
$23,000
Closing costs:
$3,450
Rehab costs:
$0
Initial cash invested:
$26,450
Square feet:
1,061
Cost per square foot:
$108
Monthly rent per square foot:
$1.23

Financing Details

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Loan amount:
$92,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$544
Property tax:
$0
Insurance:
$91
Private mortgage insurance (PMI):
$0
Monthly payment:
$635

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$1,300 $15,600
Vacancy loss: (6%)
6% -$78 -$936
Operating income:
$1,222 $14,664

Operating Expenses


% Rent Monthly Yearly
Property taxes: (n/a)
n/an/an/a
Insurance: (7%)
7%-$91-$1,092
Property management: (8%)
8%-$104-$1,248
Repairs & maintenance: (5%)
5%-$65-$780
Capital expenditures: (5%)
5%-$65-$780
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (25%)
25%-$325-$3,900

Cash Flow


Monthly Yearly
Net operating income:
$897 $10,764
Mortgage payments:
-$544 -$6,528
Cash flow:
$353 $4,236