3004 Bartolo St · Meraux, LA 70075

$198,500

3 bd · 1.0 ba · 1,225 sqft · SingleFamily · 111 Days on market

Built 1973 10,010 sqft lot $162/sqft · 13% below area Est $228k · 13% under

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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 +16.7/30.0
• ARV discount +13.4/15.0
• DSCR +5.2/10.0
• Schools +5.0/10.0
• 1% rule +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3004 Bartolo Street in Meraux offers the space you want with the updates you need. This 3-bedroom home sits on a rare double lot, giving you plenty of room for entertaining, expansion, a pool, a workshop, or simply enjoying a large backyard. Inside, the open floorplan features new wood-look ceramic flooring, new cabinets, granite countertops, and stainless steel appliances -- clean, modern, and move-in ready. Major updates include a new AC condenser and a 2025 water heater, plus a brand-new fence for added privacy. Driveway is wide enough for two cars side by side, and rear yard access! Located in the desirable Joe Davies School District and situated in Flood Zone X for preferred flood insurance rates.

Key facts

• Large backyard
• Double lot
• New cabinets

Tags

• DOUBLE LOT
• LARGE BACKYARD
• NEW CABINETS
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• NEW AC CONDENSER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $198k.

Deal economics

• At list price, monthly cash flow is $58 ($697/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (12.5% below list).
• Recommended offer: $174k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 5.1% in Meraux — 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 (#152 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: crime D, amenities F, commute F.
• Market conditions: 63 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 112 units permitted in St. Bernard Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 111 days — a 9% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,723 (12.5% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 7.05%
• Cash-on-cash: 2.69%
• DSCR: 1.12
• GRM: 9.5

CMA / ARV

• ARV (median comp): $228,350
• List price: $198,500
• Delta: -13.07%
• 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
4016 Najolia St	0.40mi	3/2.0	1,226 (+0%)	17mo	$179,000	$146	63
3013 Munster Blvd	0.06mi	3/2.0	1,387 (+13%)	21mo	$223,750	$161	54
4008 Claiborne Ave	0.58mi	3/1.5	1,220 (-0%)	21mo	$175,000	$143	53
4020 Najolia St	0.41mi	3/2.0	1,380 (+13%)	7mo	$195,876	$142	50
2208 Munster Blvd	0.71mi	3/2.0	1,299 (+6%)	6mo	$212,000	$163	48
2717 Blomquist St	0.51mi	3/1.0	1,382 (+13%)	10mo	$103,000	$75	46
4100 Najolia St	0.43mi	3/2.0	1,370 (+12%)	12mo	$219,900	$161	46
2300 Judy Dr	0.57mi	3/2.0	1,389 (+13%)	7mo	$191,800	$138	41
2212 Munster Blvd	0.70mi	2/1.0 (-1)	1,100 (-10%)	10mo	$168,500	$153	37
2108 Judy Dr	0.71mi	3/2.0	1,313 (+7%)	18mo	$192,000	$146	36
2124 Munster Blvd	0.74mi	3/1.0	1,105 (-10%)	22mo	$168,400	$152	30
2312 Judy Dr	0.55mi	3/2.0	1,385 (+13%)	24mo	$195,000	$141	29

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-28,475
• Equity at exit: $29,597

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-20,069
• Equity at exit: $17,163

Cash invested: $55,580 (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 70075

• Home prices YoY: -18.3%
• Active inventory: 63
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,737 high
• Mortgage (P&I): −$1,041
• Tax from tax record: −$124 /mo · $1,490/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $58

Break-even live

Break-even rent $1,664

Max offer price $198,500

Occupancy floor 92%

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: $49,625
• Closing costs: $5,955
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2709 Munster Blvd Meraux, LA	3.0	2.0	1411	$1,900	$1.35	23d	1	0.22mi
3629 Charles Dr Chalmette, LA	3.0	2.0	1405	$1,600	$1.14	14d	1	0.92mi
2004 Webster St Meraux, LA	3.0	2.0	1400	$1,750	$1.25	16d	1	0.97mi
2602 Chalona Dr Unit C Chalmette, LA	2.0	1.5	900	$1,200	$1.33	2d	1	1.27mi
2514 Chalona Dr Chalmette, LA	2.0	1.0	828	$1,400	$1.69	21d	1	1.32mi
3321 Plaza Dr Chalmette, LA	3.0	2.0	1400	$1,650	$1.18	10d	1	1.45mi

Listing history 14 events

1. 2026-06-15
   days on market $198,500 Active 111 DOM
2. 2026-06-13
   days on market $198,500 Active 109 DOM
3. 2026-06-10
   days on market $198,500 Active 106 DOM
4. 2026-06-09
   days on market $198,500 Active 105 DOM
5. 2026-06-08
   days on market $198,500 Active 104 DOM
6. 2026-06-07
   statusdays on market $198,500 Active 103 DOM
7. 2026-06-03
   days on market $198,500 Active Under Contract 99 DOM
8. 2026-06-02
   days on market $198,500 Active Under Contract 98 DOM
9. 2026-06-01
   days on market $198,500 Active Under Contract 97 DOM
10. 2026-05-31
    days on market $198,500 Active Under Contract 96 DOM
11. 2026-05-15
    status Pending 711-char remark

    Show marketing remark (716 chars)

    3004 Bartolo Street in Meraux offers the space you want with the updates you need. This 3-bedroom home sits on a rare double lot, giving you plenty of room for entertaining, expansion, a pool, a workshop, or simply enjoying a large backyard. Inside, the open floorplan features new wood-look ceramic flooring, new cabinets, granite countertops, and stainless steel appliances — clean, modern, and move-in ready. Major updates include a new AC condenser and a 2025 water heater, plus a brand-new fence for added privacy. Driveway is wide enough for two cars side by side, and rear yard access! Located in the desirable Joe Davies School District and situated in Flood Zone X for preferred flood insurance rates.

12. 2026-05-15
    historical Active Under Contract 716-char remark

    Show marketing remark (716 chars)

    3004 Bartolo Street in Meraux offers the space you want with the updates you need. This 3-bedroom home sits on a rare double lot, giving you plenty of room for entertaining, expansion, a pool, a workshop, or simply enjoying a large backyard. Inside, the open floorplan features new wood-look ceramic flooring, new cabinets, granite countertops, and stainless steel appliances — clean, modern, and move-in ready. Major updates include a new AC condenser and a 2025 water heater, plus a brand-new fence for added privacy. Driveway is wide enough for two cars side by side, and rear yard access! Located in the desirable Joe Davies School District and situated in Flood Zone X for preferred flood insurance rates.

13. 2026-02-24
    listed $198,500 Active 711-char remark

    Show marketing remark (716 chars)

    3004 Bartolo Street in Meraux offers the space you want with the updates you need. This 3-bedroom home sits on a rare double lot, giving you plenty of room for entertaining, expansion, a pool, a workshop, or simply enjoying a large backyard. Inside, the open floorplan features new wood-look ceramic flooring, new cabinets, granite countertops, and stainless steel appliances — clean, modern, and move-in ready. Major updates include a new AC condenser and a 2025 water heater, plus a brand-new fence for added privacy. Driveway is wide enough for two cars side by side, and rear yard access! Located in the desirable Joe Davies School District and situated in Flood Zone X for preferred flood insurance rates.

14. 2026-02-24
    listed $198,500 Active 716-char remark

    Show marketing remark (716 chars)

    3004 Bartolo Street in Meraux offers the space you want with the updates you need. This 3-bedroom home sits on a rare double lot, giving you plenty of room for entertaining, expansion, a pool, a workshop, or simply enjoying a large backyard. Inside, the open floorplan features new wood-look ceramic flooring, new cabinets, granite countertops, and stainless steel appliances — clean, modern, and move-in ready. Major updates include a new AC condenser and a 2025 water heater, plus a brand-new fence for added privacy. Driveway is wide enough for two cars side by side, and rear yard access! Located in the desirable Joe Davies School District and situated in Flood Zone X for preferred flood insurance rates.

ⓘ 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: $1,490 · $124/mo
• Projected year-2 tax: $1,490 · $124/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) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,847
• − Mortgage interest: −$11,119
• − Property taxes: −$1,490
• − Insurance: −$1,790
• − Repairs & maintenance: −$1,668
• − Management: −$1,668
• − Depreciation: −$5,775
• Taxable loss: −$2,663
• Est. tax savings @ 24.0%: +$639
• After-tax cash flow: $1,336/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 — Meraux

• Score: 65/100
• State rank: #152
• US rank: #13001

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Meraux, LA
• City population: 5,349
• Population (ZIP): 5,349

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: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 14% Black 10% Two or more races 10% Asian 5%
• Common ancestry: Lithuanian 16% Scottish 2% Portuguese 1%
• Foreign-born: 3% · Canada, Vietnam, China
• Languages at home: 89% English-only · Spanish 4% Vietnamese 4% Chinese 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: ▼ -42.56%
• Current HPI: 190.054
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-15 Pending — AcadianaMLS
• 2026-05-15 Contingent — GSREIN
• 2026-02-24 Listed $198,500 GSREIN
• 2026-02-24 Listed $198,500 AcadianaMLS

Property tax history

+4.2%/yr

Latest (2025): $1,490 · +44.2% YoY. Source: county tax records.