768 Grove Ave · Harahan, LA 70123

$140,000

2 bd · 1.0 ba · 1,125 sqft · SingleFamily · 97 Days on market

Built 1960 4,795 sqft lot $124/sqft · 51% below area

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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 +28.1/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Full renovation project in Harahan! Spacious 2 bedroom, 1 bath home with large rooms and a strong potential for restoration. Excellent opportunity to reimagine this property in a convenient location near hospitals, universities, groceries, shopping, playgrounds, etc.

Key facts

• Convenient location
• 4,795 sq ft lot
• Parking

Tags

• FULL RENOVATION PROJECT
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 4.2% in Harahan — 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 74/100 on livability (#27 in LA, #4,830 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, housing A+; Watch: 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.
• Market conditions: Rents flat; 163 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $35k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $59k; list at $140k implies a 139% gain — meaningful room to come down on a strong offer.

Recommended offer $127,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. 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.
7. 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.
8. 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: 1.17% ✓
• Cap rate: 10.06%
• Cash-on-cash: 13.45%
• DSCR: 1.60
• GRM: 7.1

CMA / ARV

• ARV (median comp): $284,644
• List price: $140,000
• Delta: -50.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
830 Colonial Club Dr	0.15mi	3/1.0 (+1)	1,212 (+8%)	5mo	$157,590	$130	70
409 Gordon Ave	0.54mi	3/1.0 (+1)	1,026 (-9%)	1mo	$247,000	$241	55
246 East Ave	0.72mi	2/1.0	1,055 (-6%)	2mo	$249,000	$236	54
8815 Darby Ln	0.43mi	3/2.0 (+1)	1,240 (+10%)	1mo	$205,000	$165	53
447 Roseland Pkwy	0.51mi	3/2.0 (+1)	1,231 (+9%)	1mo	$245,000	$199	50
449 Roseland Pkwy	0.50mi	2/1.0	1,000 (-11%)	10mo	$163,000	$163	50
361 Gordon Ave	0.60mi	3/1.0 (+1)	1,040 (-8%)	9mo	$250,000	$240	47
971 Oak Ave	0.29mi	3/2.0 (+1)	1,292 (+15%)	7mo	$349,000	$270	47
8109 Harris Ave	0.51mi	3/2.0 (+1)	1,250 (+11%)	5mo	$130,000	$104	45
7030 Michael Pl	0.49mi	3/2.0 (+1)	1,256 (+12%)	6mo	$310,000	$247	44
500 Moss Ln	0.65mi	2/1.0	975 (-13%)	5mo	$235,000	$241	43
8209 Harris Ave	0.55mi	3/1.0 (+1)	991 (-12%)	8mo	$223,500	$226	42

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 · 0.12% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $634
• Equity at exit: $20,874

10-year hold

• IRR: 7.1%
• Equity multiple: 1.47×
• Total profit: $18,498
• Equity at exit: $12,105

Cash invested: $39,200 (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 70123

• Rents YoY: 0.1%
• Active inventory: 163
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,643 high
• Mortgage (P&I): −$734
• Tax from tax record: −$66 /mo · $788/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $439

Break-even live

Break-even rent $1,086

Max offer price $140,000

Occupancy floor 68%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
601 Gordon Ave New Orleans, LA	2.0	1.0	982	$1,800	$1.83	43d	1	0.23mi
588 Oak Ave New Orleans, LA	2.0	1.5	1150	$1,500	$1.30	43d	1	0.26mi
8120 Landry Ave New Orleans, LA	2.0	1.0	856	$1,700	$1.99	4d	1	0.39mi
6081 Mounes St Unit Q156 River Ridge, LA	1.0	1.0	1000	$1,760	$1.76	23d	1	0.44mi
6081 Mounes St Unit M317 River Ridge, LA	2.0	2.0	1385	$2,385	$1.72	2d	1	0.44mi
6081 Mounes St Unit J108 River Ridge, LA	2.0	2.0	1385	$2,225	$1.61	2d	1	0.44mi
6081 Mounes St Unit R370 River Ridge, LA	1.0	1.0	1000	$1,895	$1.90	20d	1	0.44mi
6081 Mounes St Unit N134 River Ridge, LA	1.0	1.0	1000	$1,830	$1.83	20d	1	0.44mi
6081 Mounes St Unit R266 River Ridge, LA	1.0	1.0	1000	$2,035	$2.04	43d	1	0.44mi
6081 Mounes St Unit Q151 River Ridge, LA	1.0	1.0	1000	$1,800	$1.80	20d	1	0.44mi
451 Oak Ave Harahan, LA	2.0	1.0	780	$975	$1.25	3d	1	0.44mi
451 Oak Ave Unit 1 Harahan, LA	2.0	1.0	780	$1,100	$1.41	43d	1	0.44mi
6041 Mounes St River Ridge, LA	1.0–2.0	1.0–2.0	1192	$2,365	$1.98	1d	15	0.48mi
1101 Dickory Ave Unit H382 River Ridge, LA	1.0	1.0	996	$1,670	$1.68	2d	1	0.54mi
1101 Dickory Ave Unit H178 River Ridge, LA	2.0	2.0	1366	$2,060	$1.51	2d	1	0.54mi
1101 Dickory Ave Unit D242 River Ridge, LA	1.0	1.0	996	$1,625	$1.63	2d	1	0.54mi
1101 Dickory Ave Unit B218 River Ridge, LA	1.0	1.0	996	$1,650	$1.66	2d	1	0.54mi
1101 Dickory Ave Unit E148 River Ridge, LA	1.0	1.0	996	$1,730	$1.74	23d	1	0.54mi
1101 Dickory Ave Unit D338 River Ridge, LA	1.0	1.0	996	$1,740	$1.75	23d	1	0.54mi
1101 Dickory Ave Unit A208 River Ridge, LA	2.0	2.0	1366	$2,160	$1.58	43d	1	0.54mi
1101 Dickory Ave Unit H286 River Ridge, LA	1.0	1.0	996	$1,725	$1.73	23d	1	0.54mi
1101 Dickory Ave Unit C128 River Ridge, LA	1.0	1.0	996	$1,645	$1.65	2d	1	0.54mi
1101 Dickory Ave Unit F159 River Ridge, LA	1.0	1.0	996	$1,750	$1.76	43d	1	0.54mi
1101 Dickory Ave Unit H380 River Ridge, LA	1.0	1.0	996	$1,595	$1.60	2d	1	0.54mi
1101 Dickory Ave Unit H185 River Ridge, LA	1.0	1.0	996	$1,495	$1.50	2d	1	0.55mi
621 S Bengal RD River Ridge, LA	3.0	2.0	900	$1,600	$1.78	3d	1	0.69mi
7373 Jefferson Hwy New Orleans, LA	1.0–2.0	1.0	730	$1,200	$1.64	43d	2	0.71mi
512 Bellview St River Ridge, LA	2.0	1.0	840	$1,250	$1.49	3d	1	0.72mi
512 Bellview St River Ridge, LA	2.0	1.0	840	$1,250	$1.49	3d	1	0.72mi
229 Oak Ave Harahan, LA	2.0	1.5	1000	$1,500	$1.50	14d	1	0.74mi
1528 Hickory Ave Unit D Harahan, LA	2.0	1.5	1250	$1,675	$1.34	43d	1	0.89mi
1536 Hickory Ave New Orleans, LA	2.0	1.5	1200	$1,650	$1.38	43d	1	0.91mi
1536 Hickory Ave Apt D Harahan, LA	2.0	1.5	1250	$1,675	$1.34	43d	1	0.91mi
130 Crislaur Ave New Orleans, LA	2.0	2.0	1250	$1,700	$1.36	43d	1	0.92mi
130 Crislaur Ave New Orleans, LA	2.0	2.0	1250	$1,650	$1.32	23d	1	0.92mi
130 Crislaur Ave Unit 2 Harahan, LA	2.0	2.0	1250	$1,650	$1.32	14d	1	0.92mi
106 Elodie Ave New Orleans, LA	3.0	2.0	1500	$1,995	$1.33	4d	1	0.96mi
1620 Hickory Ave Unit C Harahan, LA	2.0	1.5	1180	$1,350	$1.14	43d	1	0.97mi
68 Hickory Ave New Orleans, LA	2.0	2.0	840	$2,000	$2.38	43d	1	1.00mi
24 Hickory Ave Unit C Harahan, LA	2.0	1.0	1100	$1,375	$1.25	43d	1	1.04mi

Listing history 20 events

1. 2026-06-18
   days on market $140,000 Active 97 DOM
2. 2026-06-17
   days on market $140,000 Active 96 DOM
3. 2026-06-16
   days on market $140,000 Active 95 DOM
4. 2026-06-15
   days on market $140,000 Active 94 DOM
5. 2026-06-13
   days on market $140,000 Active 92 DOM
6. 2026-06-10
   days on market $140,000 Active 89 DOM
7. 2026-06-09
   days on market $140,000 Active 88 DOM
8. 2026-06-08
   days on market $140,000 Active 87 DOM
9. 2026-06-07
   days on market $140,000 Active 86 DOM
10. 2026-06-03
    pricedays on market $140,000 Active 82 DOM
11. 2026-06-02
    days on market $145,000 Active 81 DOM
12. 2026-06-01
    days on market $145,000 Active 80 DOM
13. 2026-05-31
    days on market $145,000 Active 79 DOM
14. 2026-04-29
    price $145,000 267-char remark

    Show marketing remark (267 chars)

    Full renovation project in Harahan! Spacious 2 bedroom, 1 bath home with large rooms and a strong potential for restoration. Excellent opportunity to reimagine this property in a convenient location near hospitals, universities, groceries, shopping, playgrounds, etc.

15. 2026-04-29
    price $145,000 267-char remark

    Show marketing remark (267 chars)

    Full renovation project in Harahan! Spacious 2 bedroom, 1 bath home with large rooms and a strong potential for restoration. Excellent opportunity to reimagine this property in a convenient location near hospitals, universities, groceries, shopping, playgrounds, etc.

16. 2026-03-27
    price $159,000 267-char remark

    Show marketing remark (267 chars)

    Full renovation project in Harahan! Spacious 2 bedroom, 1 bath home with large rooms and a strong potential for restoration. Excellent opportunity to reimagine this property in a convenient location near hospitals, universities, groceries, shopping, playgrounds, etc.

17. 2026-03-27
    price $159,000 267-char remark

    Show marketing remark (267 chars)

    Full renovation project in Harahan! Spacious 2 bedroom, 1 bath home with large rooms and a strong potential for restoration. Excellent opportunity to reimagine this property in a convenient location near hospitals, universities, groceries, shopping, playgrounds, etc.

18. 2026-03-04
    listed $175,000 Active 267-char remark

    Show marketing remark (267 chars)

    Full renovation project in Harahan! Spacious 2 bedroom, 1 bath home with large rooms and a strong potential for restoration. Excellent opportunity to reimagine this property in a convenient location near hospitals, universities, groceries, shopping, playgrounds, etc.

19. 2026-03-04
    listed $175,000 Active 267-char remark

    Show marketing remark (267 chars)

    Full renovation project in Harahan! Spacious 2 bedroom, 1 bath home with large rooms and a strong potential for restoration. Excellent opportunity to reimagine this property in a convenient location near hospitals, universities, groceries, shopping, playgrounds, etc.

20. 1983-10-01
    soldstatus $58,600

ⓘ 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: $788 · $66/mo
• Projected year-2 tax: $788 · $66/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,711
• − Mortgage interest: −$7,842
• − Property taxes: −$788
• − Insurance: −$700
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$4,073
• Taxable income: $3,154
• Est. tax owed @ 24.0%: −$757
• After-tax cash flow: $4,516/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 — Harahan

• Score: 74/100
• State rank: #27
• US rank: #4830

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harahan, LA
• County: Jefferson Parish · 426,999 people
• City population: 27,209
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 27,386
• Household income: $83,585
• Rent vs Own: 45.3% rent · 54.7% own
• Severe rent burden: 1282.0

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 (73%)
• Race & ethnicity: White 73% Black 12% Hispanic / Latino 9% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 2% Cuban 1%
• Common ancestry: Lithuanian 17% Slovak 1% Italian 1%
• Foreign-born: 7% · Canada
• Languages at home: 90% English-only · Spanish 4% Other Indo-European 1% Tagalog/Filipino 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: ▼ -226.09%
• Current HPI: 141.1799
• Rent YoY: ▲ 0.12%
• 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

+147.4% since first listed

7 events — show timeline

• 2026-04-29 Price Changed $145,000 AcadianaMLS
• 2026-04-29 Price Changed $145,000 GSREIN
• 2026-03-27 Price Changed $159,000 AcadianaMLS
• 2026-03-27 Price Changed $159,000 GSREIN
• 2026-03-04 Listed $175,000 GSREIN
• 2026-03-04 Listed $175,000 AcadianaMLS
• 1983-10-01 Sold (Public Records) $58,600 Public Records

Property tax history

-1.2%/yr

Latest (2025): $788 · -0.5% YoY. Source: county tax records.