31 Gibbs Dr · Chalmette, LA 70043

$175,000

3 bd · 2.0 ba · 1,550 sqft · SingleFamily · 15 Days on market

Built 2008 5,250 sqft lot Est $237k · 26% under

---

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 +21.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.8/10.0
• Schools +5.0/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully renovated Home in the Heart of Chalmette! Kitchen has stainless steel appliances with Quartz countertops. This open floor plan has an oversized living area. .Three spacious bedrooms. Also has a brand new roof! Additionally , there is a shed for additional storage in the backyard with a covered patio. Don't miss the opportunity! Schedule your viewing today!

Key facts

• Open floor plan
• Spacious living area
• Raised brick home

Tags

• RAISED BRICK HOME
• QUIET CHALMETTE NEIGHBORHOOD
• BIG LOT WITH STORAGE SHED
• OPEN FLOOR PLAN
• SPACIOUS LIVING AREA
• LAUNDRY ROOM IN HALLWAY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 5.5% in Chalmette — 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 65/100 on livability (#137 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime F, amenities F, commute F.
• Market conditions: Rents rising (+3.1%/yr); 209 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 112 units permitted in St. Bernard Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($55k/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.
• St. Bernard County population projected at +89% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y ago; this cycle's ask has dropped $64k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $172,375 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.08% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.08%
• DSCR: 1.27
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $237,150
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8829 Livingston Ave	0.24mi	3/2.0	1,556 (+0%)	4mo	$222,000	$143	85
2329 Congressman Hebert Dr	0.30mi	3/2.0	1,606 (+4%)	4mo	$299,900	$187	77
62 Patterson Dr	0.34mi	3/2.0	1,573 (+2%)	6mo	$260,000	$165	76
2608 Jean Lafitte Pkwy	0.47mi	3/2.0	1,500 (-3%)	0mo	$225,000	$150	73
2225 Congressman Hebert Dr	0.22mi	3/2.0	1,445 (-7%)	8mo	$267,109	$185	71
8516 Livingston Ave	0.16mi	4/2.0 (+1)	1,414 (-9%)	4mo	$190,000	$134	70
8416 Colonel Dr	0.58mi	3/2.0	1,560 (+1%)	3mo	$205,000	$131	70
2400 Creely Dr	0.38mi	4/2.0 (+1)	1,525 (-2%)	9mo	$115,000	$75	67
8901 Livingston Ave	0.28mi	3/2.0	1,728 (+12%)	2mo	$264,000	$153	66
67 W Claiborne Sq	0.24mi	3/2.0	1,728 (+12%)	5mo	$285,000	$165	65
59 E Carolina Dr	0.25mi	3/2.5	1,700 (+10%)	7mo	$227,500	$134	64
2700 Creely Dr	0.42mi	3/2.0	1,720 (+11%)	4mo	$269,000	$156	59

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 · 3.11% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.66×
• Total profit: $-16,475
• Equity at exit: $26,093

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $1,808
• Equity at exit: $15,131

Cash invested: $49,000 (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 70043

• Rents YoY: 3.1%
• Active inventory: 209
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,895 high
• Mortgage (P&I): −$918
• Tax from tax record: −$258 /mo · $3,096/yr
• Insurance: −$73
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $182

Break-even live

Break-even rent $1,665

Max offer price $175,000

Occupancy floor 85%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8401 Livingston Ave Unit D Chalmette, LA	2.0	1.5	1100	$1,200	$1.09	44d	1	0.29mi
114 8th St Chalmette, LA	3.0	1.0	1275	$1,695	$1.33	44d	1	0.32mi
32 Old Hickory St Chalmette, LA	4.0	2.0	1379	$1,850	$1.34	23d	1	0.39mi
2707 Jackson Blvd Chalmette, LA	3.0	2.5	1733	$2,300	$1.33	23d	1	0.65mi
2707 Jackson Blvd Chalmette, LA	3.0	3.0	1733	$2,300	$1.33	44d	1	0.65mi
8506 Deerfield Dr Chalmette, LA	2.0	1.0	1089	$1,350	$1.24	17d	1	0.81mi
3561 Kings Dr Chalmette, LA	2.0	1.5	1080	$1,400	$1.30	44d	1	0.92mi
3563 Kings Dr Chalmette, LA	2.0	1.5	1080	$1,400	$1.30	44d	1	0.92mi
8600 Patricia St Chalmette, LA	3.0	2.0	1255	$1,550	$1.24	23d	1	0.93mi
2107 Montesquieu St Chalmette, LA	2.0	1.0	1150	$1,199	$1.04	21d	1	1.00mi
3606 Pakenham Dr Unit 3606 Chalmette, LA	3.0	2.0	1400	$1,800	$1.29	12d	1	1.08mi
310 Lynx Dr Arabi, LA	3.0	2.0	1050	$1,775	$1.69	23d	1	1.10mi
3400 Montesquieu St Unit 1-B Chalmette, LA	3.0	2.5	1372	$2,550	$1.86	1d	1	1.12mi
3507 Sinclair St Chalmette, LA	3.0	2.0	1186	$1,800	$1.52	10d	1	1.16mi
309 Fawn Dr Arabi, LA	3.0	2.5	1745	$2,500	$1.43	1d	1	1.17mi
226 E Casa Calvo St Chalmette, LA	3.0	2.0	1330	$1,900	$1.43	44d	1	1.18mi
3617 Park Blvd Chalmette, LA	3.0	2.0	1090	$1,850	$1.70	20d	1	1.18mi
3617 Park Blvd Chalmette, LA	3.0	2.0	1090	$1,850	$1.70	44d	1	1.18mi
9101 Virtue St Unit 9101 Chalmette, LA	3.0	2.0	1100	$1,690	$1.54	3d	1	1.21mi
2029 W Beauregard St Chalmette, LA	3.0	2.0	1176	$2,200	$1.87	17d	1	1.24mi
424 Chinchilla Dr Arabi, LA	3.0	2.0	1735	$3,500	$2.02	16d	1	1.27mi
8413 Benjamin Dr Chalmette, LA	3.0	2.0	1800	$2,300	$1.28	3d	1	1.28mi
3108 Tournefort St Chalmette, LA	3.0	2.0	1399	$1,750	$1.25	3d	1	1.30mi
2518 Delambert St Chalmette, LA	3.0	2.0	1617	$1,825	$1.13	44d	1	1.30mi
1239 Center St Arabi, LA	4.0	2.0	1922	$3,500	$1.82	3d	1	1.31mi
1511 Schnell Dr Arabi, LA	4.0	3.0	1700	$1,850	$1.09	3d	1	1.33mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	3d	1	1.35mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	2d	1	1.35mi
3108 Laplace St Chalmette, LA	3.0	2.5	1390	$1,650	$1.19	44d	1	1.36mi
7532 Patricia St Arabi, LA	4.0	3.0	2099	$2,200	$1.05	44d	1	1.36mi
1529 Schnell Dr Arabi, LA	3.0	2.5	1736	$2,600	$1.50	1d	1	1.37mi
3106 Laplace St Chalmette, LA	3.0	2.5	1390	$1,650	$1.19	44d	1	1.38mi
616 Lebeau St Unit A Arabi, LA	2.0	1.0	1205	$1,650	$1.37	44d	1	1.40mi
2329 Lyndell Dr Chalmette, LA	2.0	1.0	1265	$1,400	$1.11	44d	1	1.47mi
438 Friscoville Ave Arabi, LA	3.0	2.0	1500	$3,200	$2.13	3d	1	1.48mi

Listing history 13 events

1. 2025-03-14
   soldstatus $239,000 Closed 371-char remark

   Show marketing remark (371 chars)

   Beautifully renovated Home in the Heart of Chalmette! Kitchen has stainless steel appliances with Quartz countertops. This open floor plan has an oversized living area. .Three spacious bedrooms. Also has a brand new roof! Additionally , there is a shed for additional storage in the backyard with a covered patio. Don't miss the opportunity! Schedule your viewing today!

2. 2025-02-21
   status Pending 371-char remark

   Show marketing remark (371 chars)

   Beautifully renovated Home in the Heart of Chalmette! Kitchen has stainless steel appliances with Quartz countertops. This open floor plan has an oversized living area. .Three spacious bedrooms. Also has a brand new roof! Additionally , there is a shed for additional storage in the backyard with a covered patio. Don't miss the opportunity! Schedule your viewing today!

3. 2025-02-12
   listed $239,500 Active 371-char remark

   Show marketing remark (371 chars)

   Beautifully renovated Home in the Heart of Chalmette! Kitchen has stainless steel appliances with Quartz countertops. This open floor plan has an oversized living area. .Three spacious bedrooms. Also has a brand new roof! Additionally , there is a shed for additional storage in the backyard with a covered patio. Don't miss the opportunity! Schedule your viewing today!

4. 2025-02-12
   listed $239,500

   Show marketing remark (371 chars)

   Beautifully renovated Home in the Heart of Chalmette! Kitchen has stainless steel appliances with Quartz countertops. This open floor plan has an oversized living area. .Three spacious bedrooms. Also has a brand new roof! Additionally , there is a shed for additional storage in the backyard with a covered patio. Don't miss the opportunity! Schedule your viewing today!

5. 2024-11-23
   soldstatus $140,000 Closed
6. 2024-11-14
   status Pending
7. 2024-11-08
   price $175,000
8. 2024-11-08
   price $175,000
9. 2024-10-28
   listed $179,000 Active
10. 2024-10-28
    listed $179,000 Active
11. 1999-05-03
    soldstatus $82,500
12. 1999-04-06
    listed $82,500
13. 1999-04-06
    listed $82,500

ⓘ 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: $3,096 · $258/mo
• Projected year-2 tax: $3,096 · $258/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 X (shaded) · 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,738
• − Mortgage interest: −$9,803
• − Property taxes: −$3,096
• − Insurance: −$1,672
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − Depreciation: −$5,091
• Taxable loss: −$562
• Est. tax savings @ 24.0%: +$135
• After-tax cash flow: $2,317/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)

No district data.

Livability — Chalmette

• Score: 65/100
• State rank: #137
• US rank: #12500

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chalmette, LA
• County: Saint Bernard Parish · 22,638 people
• City population: 22,638
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 22,638
• Household income: $55,068
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 881.0

Population outlook (St. Bernard County) Hauer SSP2

• Today (2025): 66,513 people
• By 2030: 77,768 · +16.9%
• By 2040: 101,296 · +52.3%
• By 2050: 125,770 · +89.1%
• By 2075: 188,160 · +182.9%
• By 2100: 239,339 · +259.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 55% Black 26% Hispanic / Latino 12% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 13% Slovak 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 8% Arabic 1% Vietnamese 1%

Political lean MEDSL · St. Bernard

• 2024 margin: Strong R (+29.3) · D 34.5% · R 63.8% · Other 1.7%
• 2008→2024 swing: +16.1pp toward D · 2008: -45.4pp · 2024: -29.3pp
• All cycles: 2024: R+29.3 2020: R+28.5 2016: R+33.4 2012: R+24.7 2008: R+45.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.77%
• Current HPI: 194.8123
• Rent YoY: ▲ 3.11%
• 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

+189.7% since first listed

13 events — show timeline

• 2025-03-14 Sold (MLS) $239,000 GSREIN
• 2025-02-21 Pending — GSREIN
• 2025-02-12 Listed $239,500 AcadianaMLS
• 2025-02-12 Listed $239,500 GSREIN
• 2024-11-23 Sold (MLS) $140,000 GSREIN
• 2024-11-14 Pending — GSREIN
• 2024-11-08 Price Changed $175,000 AcadianaMLS
• 2024-11-08 Price Changed $175,000 GSREIN
• 2024-10-28 Listed $179,000 AcadianaMLS
• 2024-10-28 Listed $179,000 GSREIN
• 1999-05-03 Sold (MLS) $82,500 GSREIN
• 1999-04-06 Listed $82,500 GSREIN
• 1999-04-06 Listed $82,500 AcadianaMLS

Property tax history

+9.0%/yr

Latest (2025): $3,096 · +102.6% YoY. Source: county tax records.