164 Carmen Dr

Avondale, LA 70094

$157,500C+

3 bd · 1.0 ba · 1,270 sqft · Built 1965 · SingleFamily · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,749/mo
• Mortgage (P&I): −$826
• Tax + insurance: −$129
• HOA: −$0
• Vac / Maint / Mgmt: −$367
• Net cashflow: $427/mo
• Annual: $5,124/yr
• Cap rate: 9.55%
• Cash-on-cash: 11.62%
• DSCR: 1.52
• 1% rule: 1.11%
• Cash to close: $44,100

Investor read

• This is a 3-bed/1.0-bath single-family listed at $158k.
• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $158k).
• It's been on market 20 days — a 2% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $155k (1.5% below list) — sets the bar for market timing.
• 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.
• Location reads 61/100 on livability (#243 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• 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: Ray St. Pierre Academy For Advanced Studies (math 82% / reading 82%, grade A+, #9 of 646 statewide, top 1%, 336 students, 26% FRL); Emmett C.Gilbert School of Excellence At Ford (math 15% / reading 23%, grade F, #463 of 646 statewide, top 72%, 689 students, 80% FRL); L.W. Higgins High School (math 14% / reading 25%, grade F, #186 of 265 statewide, top 73%, 996 students, 70% FRL).
• Market conditions: Rents soft (-0.8%/yr); 188 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• 4 sale attempts since 13y ago; this cycle's ask is 190% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $54k; list at $158k implies a 190% gain — meaningful room to come down on a strong offer.
• Cap rate 9.5% vs local median 7.5% in Avondale — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 39% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D 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?
• 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.
• 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.
• 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.