2524 Michigan Ave · Metairie, LA 70003

$167,000

2 bd · 1.5 ba · 1,944 sqft · SingleFamily · 6 Days on market

Built 1957 7,860 sqft lot

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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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• 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

Listing remarks

Calling Investors & Renovators! Home Sweet Home in Metairie offering 2 bedrooms, 1.5 bathrooms, with 3 living room spaces, 2 office areas, wet bar, inside laundry room, a closed-in patio, nicely sized yard & huge Morgan shed! The large office room could be turned into a 3rd bedroom since there is a walk-in closet available. The refrigerator, dishwasher & gas range oven will remain with the home. Home has central heat & window units. 1 window unit was purchased in 2017, while the others are from 2021-2022. There is also 1 fuse box & 1 breaker box. Buyer can contact LA Citizens Insurance for more immediate coverage options or until the fuse box is updated. The st

Key facts

• 7,860 sq ft lot
• Built 1957
• Listed 6 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $167k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $167k).
• Cap rate 9.3% 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; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• This rent runs 31% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,000

Questions for the listing agent

1. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.58%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $344,088
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8725 25th St	0.24mi	3/2.0 (+1)	1,800 (-7%)	7mo	$200,000	$111	64
8732 25th St	0.23mi	3/2.0 (+1)	1,780 (-8%)	6mo	$275,000	$154	63
2320 Michigan Ave	0.27mi	3/2.0 (+1)	1,775 (-9%)	4mo	$299,000	$168	62
2412 Mississippi Ave	0.15mi	3/2.0 (+1)	1,705 (-12%)	6mo	$390,000	$229	61
1725 Vegas Dr	0.70mi	3/2.0 (+1)	1,888 (-3%)	2mo	$499,000	$264	54
2420 N Atlanta St	0.46mi	3/2.0 (+1)	1,800 (-7%)	7mo	$329,500	$183	53
1721 Vegas Dr	0.70mi	3/2.0 (+1)	1,863 (-4%)	2mo	$499,000	$268	51
1741 Vegas Dr	0.70mi	3/2.0 (+1)	1,880 (-3%)	4mo	$509,000	$271	51
2505 N Atlanta St	0.49mi	3/2.0 (+1)	1,653 (-15%)	1mo	$274,900	$166	44
3020 Maine Ave	0.63mi	3/2.0 (+1)	1,737 (-11%)	2mo	$295,000	$170	44
2336 Illinois Ave	0.59mi	3/2.0 (+1)	1,668 (-14%)	2mo	$295,000	$177	40
2109 Maine Ave	0.59mi	3/2.0 (+1)	1,680 (-14%)	5mo	$290,000	$173	39

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: -1.4%
• Equity multiple: 0.95×
• Total profit: $-2,453
• Equity at exit: $24,900

10-year hold

• IRR: 7.4%
• Equity multiple: 1.53×
• Total profit: $25,015
• Equity at exit: $14,439

Cash invested: $46,760 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,983 high
• Mortgage (P&I): −$876
• Tax est. 1.5%: −$209 /mo · $2,505/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $412

Break-even live

Break-even rent $1,461

Max offer price $167,000

Occupancy floor 74%

Sensitivity live

Price	-10% $528	-5% $470	+0% $412	+5% $355	+10% $297
Rent	-10% $256	-5% $334	+0% $412	+5% $491	+10% $569
Rate	-1.0pp $496	-0.5pp $455	base $412	+0.5pp $369	+1.0pp $325

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: $41,750
• Closing costs: $5,010
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8817 25th St Metairie, LA	3.0	1.0	1390	$2,100	$1.51	5d	1	0.13mi
2921 Indiana Ave Unit 3 Kenner, LA	2.0	1.5	1300	$1,395	$1.07	4d	1	0.76mi
3101 Kansas Ave Kenner, LA	3.0	2.0	1500	$2,000	$1.33	15d	1	0.80mi
6801 Veterans Blvd Metairie, LA	1.0–3.0	1.0–2.0	985	$1,314	$1.33	2d	27	0.88mi
1001 Minnesota Ave Kenner, LA	3.0	2.0	1800	$2,100	$1.17	44d	1	0.88mi
6908 Christine St Metairie, LA	3.0	2.0	1550	$2,000	$1.29	15d	1	0.99mi
6908 Christine St Metairie, LA	3.0	2.0	1550	$2,100	$1.35	24d	1	0.99mi
7116 Wilty St Metairie, LA	3.0	2.0	1722	$2,300	$1.34	5d	1	1.00mi
6501 Ithaca St Metairie, LA	3.0	2.0	2400	$2,900	$1.21	44d	1	1.11mi
6217 Leslie St Metairie, LA	3.0	1.0	1300	$1,800	$1.38	45d	1	1.11mi
2127 Connecticut Ave Unit A Kenner, LA	3.0	2.0	1310	$2,000	$1.53	44d	1	1.11mi
6508 Wilty St Metairie, LA	3.0	2.0	1300	$2,000	$1.54	24d	1	1.15mi
808 Cynthia Ave Metairie, LA	3.0	2.0	1500	$2,100	$1.40	15d	1	1.18mi
2012 Airline Park Blvd Metairie, LA	3.0	2.0	1583	$2,100	$1.33	24d	1	1.19mi
13 Emile Ave Kenner, LA	3.0	3.0	2100	$2,300	$1.10	24d	1	1.21mi
6301 Wilty St Metairie, LA	3.0	2.0	1340	$2,000	$1.49	4d	1	1.25mi
61 Emile Ave Kenner, LA	3.0	2.0	1450	$1,900	$1.31	45d	1	1.29mi
1516 Mayfield St Kenner, LA	3.0	2.0	1407	$1,900	$1.35	44d	1	1.32mi
1516 Mayfield St Kenner, LA	3.0	2.0	1407	$1,900	$1.35	45d	1	1.32mi
413 Maryland Ave Metairie, LA	3.0	2.0	1330	$1,400	$1.05	24d	1	1.37mi
705 N Lester Ave Metairie, LA	3.0	2.0	1334	$2,100	$1.57	44d	1	1.45mi
2714 Tifton St Kenner, LA	3.0	2.0	1275	$1,800	$1.41	44d	1	1.50mi

Listing history 2 events

1. 2026-06-17
   remarks 679-char remark
2. 2026-06-17
   listed $167,000 Pending 6 DOM

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

Taxation est. · year 1

• Rental income: $23,793
• − Mortgage interest: −$9,355
• − Property taxes: −$2,505
• − Insurance: −$835
• − Repairs & maintenance: −$1,903
• − Management: −$1,903
• − Depreciation: −$4,858
• Taxable income: $2,434
• Est. tax owed @ 24.0%: −$584
• After-tax cash flow: $4,363/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