233 Annex St · New Sarpy, LA 70047

$112,500

3 bd · 2.0 ba · 1,164 sqft · SingleFamily public records · 27 Days on market

Built 2005 7,797 sqft lot Est $139k · 19% under ↓ 15% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Schools +4.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home needs your Tender Loving Care to make it cute again. Also, A Great Home for Investors. Located in St. Charles Parish School District along the Mississippi River. Levee access for recreation activies. This home will not go FHA or VA.

Key facts

• Levee access
• Mississippi river
• 7,797 sq ft lot

Tags

• MISSISSIPPI RIVER
• LEVEE ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $111k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 49/100 on livability (#433 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• St. Charles Parish (suburban): math 40% / reading 51% proficiency, ranked #14 of 98 in LA (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 85 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 74 units permitted in St. Charles Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $778 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• St. Charles County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $18k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A99 (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 $110,812 (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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.44% ✓
• Cap rate: 12.04%
• Cash-on-cash: 20.52%
• DSCR: 1.91
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $138,516
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
228 Annex St	0.03mi	3/1.0	1,200 (+3%)	7mo	$140,000	$117	84
324 W Easy St	0.54mi	3/2.0	1,200 (+3%)	14mo	$273,000	$228	58
216 W Lawson St	0.56mi	2/2.0 (-1)	1,207 (+4%)	12mo	$144,000	$119	52
716 Vans Ln	0.48mi	3/1.0	1,100 (-6%)	23mo	$30,000	$27	45
322 Ormond Meadows Dr Unit C	0.74mi	2/1.5 (-1)	1,150 (-1%)	14mo	$139,000	$121	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.7%
• Equity multiple: 1.26×
• Total profit: $8,182
• Equity at exit: $16,774

10-year hold

• IRR: 16.1%
• Equity multiple: 2.31×
• Total profit: $41,360
• Equity at exit: $9,727

Cash invested: $31,500 (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 70047

• Home prices YoY: -14.4%
• Active inventory: 85
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,625 medium
• Mortgage (P&I): −$590
• Tax from tax record: −$108 /mo · $1,302/yr
• Insurance: −$47
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $413

Break-even live

Break-even rent $1,102

Max offer price $112,500

Occupancy floor 70%

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: $28,125
• Closing costs: $3,375
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
56 Stanton Hall Dr Destrehan, LA	3.0	2.5	1418	$1,700	$1.20	44d	1	1.40mi
15909 River Rd Hahnville, LA	1.0–2.0	1.0	745	$1,150	$1.54	24d	1	1.40mi

Listing history 7 events

1. 2026-04-16
   soldstatus $110,000
2. 2026-03-25
   status Pending 242-char remark

   Show marketing remark (242 chars)

   This home needs your Tender Loving Care to make it cute again. Also, A Great Home for Investors. Located in St. Charles Parish School District along the Mississippi River. Levee access for recreation activies. This home will not go FHA or VA.

3. 2026-03-25
   status Pending

   Show marketing remark (242 chars)

   This home needs your Tender Loving Care to make it cute again. Also, A Great Home for Investors. Located in St. Charles Parish School District along the Mississippi River. Levee access for recreation activies. This home will not go FHA or VA.

4. 2026-03-12
   price $112,500 242-char remark

   Show marketing remark (242 chars)

   This home needs your Tender Loving Care to make it cute again. Also, A Great Home for Investors. Located in St. Charles Parish School District along the Mississippi River. Levee access for recreation activies. This home will not go FHA or VA.

5. 2026-03-12
   price $112,500

   Show marketing remark (242 chars)

   This home needs your Tender Loving Care to make it cute again. Also, A Great Home for Investors. Located in St. Charles Parish School District along the Mississippi River. Levee access for recreation activies. This home will not go FHA or VA.

6. 2026-02-26
   listed $130,000 Active 242-char remark

   Show marketing remark (242 chars)

   This home needs your Tender Loving Care to make it cute again. Also, A Great Home for Investors. Located in St. Charles Parish School District along the Mississippi River. Levee access for recreation activies. This home will not go FHA or VA.

7. 2026-02-26
   listed $130,000 Active

   Show marketing remark (242 chars)

   This home needs your Tender Loving Care to make it cute again. Also, A Great Home for Investors. Located in St. Charles Parish School District along the Mississippi River. Levee access for recreation activies. This home will not go FHA or VA.

ⓘ 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: $1,302 · $108/mo
• Projected year-2 tax: $1,302 · $108/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 7/10 Severe FEMA zone A99 · 59% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 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: $19,503
• − Mortgage interest: −$6,302
• − Property taxes: −$1,302
• − Insurance: −$2,065
• − Repairs & maintenance: −$1,560
• − Management: −$1,560
• − Depreciation: −$3,273
• Taxable income: $3,441
• Est. tax owed @ 24.0%: −$826
• After-tax cash flow: $4,135/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: St. Charles Parish
• NCES district ID: 2201440
• Math proficiency: 40% ▼ -38.00%
• Reading proficiency: 51% ▼ -32.00%
• Median HH income: $60,261
• Composite: 40.0/100
• National rank: #3830
• State rank: #14 of 98 in LA

Livability — New Sarpy

• Score: 49/100
• State rank: #433
• US rank: #25891

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Sarpy, LA
• County: Saint Charles Parish · 27,180 people
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 13,220
• Household income: $87,333
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 468.0

Population outlook (St. Charles County) Hauer SSP2

• Today (2025): 53,296 people
• By 2030: 53,030 · -0.5%
• By 2040: 51,646 · -3.1%
• By 2050: 49,771 · -6.6%
• By 2075: 46,993 · -11.8%
• By 2100: 44,473 · -16.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 8% Two or more races 6% Asian 2%
• Common ancestry: Lithuanian 21% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 93% English-only · Spanish 6% Other Asian/Pacific 1%

Political lean MEDSL · St. Charles

• 2024 margin: Solid R (+32.4) · D 33.0% · R 65.4% · Other 1.6%
• 2008→2024 swing: -1.1pp toward R · 2008: -31.2pp · 2024: -32.4pp
• All cycles: 2024: R+32.4 2020: R+29.6 2016: R+30.8 2012: R+27.8 2008: R+31.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.34%
• Current HPI: 238.9532
• Rent YoY: —
• 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

-15.4% since first listed

7 events — show timeline

• 2026-04-16 Sold (Public Records) $110,000 Public Records
• 2026-03-25 Pending — AcadianaMLS
• 2026-03-25 Pending — GSREIN
• 2026-03-12 Price Changed $112,500 AcadianaMLS
• 2026-03-12 Price Changed $112,500 GSREIN
• 2026-02-26 Listed $130,000 GSREIN
• 2026-02-26 Listed $130,000 AcadianaMLS

Property tax history

+3.5%/yr

Latest (2024): $1,302 · +98.6% YoY. Source: county tax records.