1438 S Meadow St · Metairie, LA 70003

$70,000

3 bd · 1.0 ba · 1,174 sqft · SingleFamily · 6 Days on market

Built 1970

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.4/5.0
• Rent growth +3.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Investors, Builders and Flippers. Opportunity awaits on this three bedroom, one bath home situated in a quiet, friendly neighborhood. Home was damaged during Hurricane Ida. Possible Mold present. Utilities are not on and Seller will not make any repairs..

Key facts

• Parking
• Built 1970
• Listed 6 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $917 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Cap rate 22.0% vs local median 3.6% in Metairie — 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 87/100 on livability (#1 in LA, #261 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• 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: Rudolph Matas School (math 33% / reading 45%, grade F, #238 of 646 statewide, top 37%, 609 students, 56% FRL); T.H. Harris Middle School (math 8% / reading 24%, grade F, #180 of 218 statewide, top 83%, 707 students, 61% FRL); East Jefferson High School (math 18% / reading 35%, grade F, #148 of 265 statewide, top 56%, 1,348 students, 55% FRL).
• Market conditions: Rents rising (+2.1%/yr); 227 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.1% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 2.54% ✓
• Cap rate: 22.02%
• Cash-on-cash: 56.16%
• DSCR: 3.50
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $217,190
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
421 N Dilton St	0.24mi	3/2.0	1,250 (+6%)	4mo	$209,900	$168	71
316 Sadie Ave	0.63mi	3/1.0	1,146 (-2%)	3mo	$206,000	$180	64
817 Sadie Ave	0.72mi	3/1.0	1,157 (-1%)	6mo	$234,000	$202	60
8127 Karen St	0.61mi	3/2.0	1,097 (-7%)	3mo	$243,500	$222	54
405 Jade Ave	0.68mi	3/2.0	1,213 (+3%)	7mo	$212,000	$175	53
8110 Buras Ave	0.57mi	3/1.5	1,265 (+8%)	11mo	$250,000	$198	50
713 Dilton St	0.64mi	3/1.5	1,047 (-11%)	2mo	$215,000	$205	48
1109 Mason Smith Ave	0.73mi	3/1.0	1,055 (-10%)	4mo	$190,000	$180	46
1312 S Howard Ave	0.55mi	2/1.0 (-1)	1,025 (-13%)	5mo	$127,000	$124	44
320 Trudeau Dr	0.55mi	3/2.0	1,033 (-12%)	8mo	$210,000	$203	43
349 Little Farms Ave	0.61mi	3/1.5	1,000 (-15%)	6mo	$185,000	$185	40
7613 Richard St	0.52mi	3/2.0	1,345 (+15%)	11mo	$215,000	$160	38

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 · 2.15% rent growth · sell at horizon

5-year hold

• IRR: 53.6%
• Equity multiple: 3.33×
• Total profit: $45,605
• Equity at exit: $10,437

10-year hold

• IRR: 58.4%
• Equity multiple: 6.56×
• Total profit: $108,981
• Equity at exit: $6,052

Cash invested: $19,600 (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 70003

• Rents YoY: 2.1%
• Active inventory: 227
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,778 high
• Mortgage (P&I): −$367
• Tax from tax record: −$91 /mo · $1,088/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $917

Break-even live

Break-even rent $616

Max offer price $70,000

Occupancy floor 43%

Sensitivity live

Price	-10% $957	-5% $937	+0% $917	+5% $898	+10% $878
Rent	-10% $777	-5% $847	+0% $917	+5% $988	+10% $1,058
Rate	-1.0pp $953	-0.5pp $935	base $917	+0.5pp $899	+1.0pp $881

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 N Wilson St Metairie, LA	2.0	1.0	900	$1,175	$1.31	25d	1	0.25mi
606 N Wilson St Metairie, LA	3.0	1.5	1200	$1,800	$1.50	45d	1	0.35mi
705 N Lester Ave Metairie, LA	3.0	2.0	1334	$2,100	$1.57	45d	1	0.44mi
512 N Howard Ave Metairie, LA	2.0	1.0	1000	$1,650	$1.65	5d	1	0.49mi
10521 Alan St Unit 10521 River Ridge, LA	2.0	1.0	740	$1,150	$1.55	45d	1	0.65mi
10613 Chadwick Dr New Orleans, LA	3.0	2.0	1460	$2,200	$1.51	3d	1	0.66mi
808 Cynthia Ave Metairie, LA	3.0	2.0	1500	$2,100	$1.40	16d	1	0.71mi
2100 Sawmill Rd New Orleans, LA	1.0–2.0	1.0–2.5	959	$1,465	$1.53	3d	22	0.75mi
1936 Hickory Ave Unit A Harahan, LA	2.0	1.5	1100	$1,350	$1.23	45d	1	0.89mi
129 Stewart Ave New Orleans, LA	3.0	1.0	1466	$1,950	$1.33	25d	1	0.92mi
512 Oriole St Unit 512 Metairie, LA	2.0	1.0	996	$1,390	$1.40	25d	1	0.97mi
512 Oriole St Metairie, LA	2.0	1.0	996	$1,390	$1.40	45d	1	0.97mi
5855 Walnut Creek Rd New Orleans, LA	1.0–2.0	1.0	771	$1,180	$1.53	3d	9	0.99mi
216 Marion Ct New Orleans, LA	2.0	1.0	750	$1,300	$1.73	25d	1	0.99mi
805 Oriole St Metairie, LA	2.0	1.0	900	$1,400	$1.56	45d	1	1.01mi
1824 Hickory Ave Unit A Harahan, LA	2.0	1.5	1150	$1,325	$1.15	45d	1	1.02mi
1824 Hickory Ave Unit C Harahan, LA	2.0	1.5	1150	$1,350	$1.17	5d	1	1.02mi
2006 Oak Creek Rd Unit 311 River Ridge, LA	2.0	2.0	1111	$1,405	$1.26	45d	1	1.02mi
2006 Oak Creek Rd Unit 221 River Ridge, LA	2.0	2.0	1111	$1,395	$1.26	25d	1	1.02mi
1217 N Cumberland St Metairie, LA	3.0	1.0	1022	$2,100	$2.05	5d	1	1.06mi
2001 Oak Creek Rd New Orleans, LA	1.0–2.0	1.0–2.0	880	$1,420	$1.61	3d	7	1.06mi
10542 Jefferson Hwy Apt 11 River Ridge, LA	2.0	1.0	748	$1,095	$1.46	45d	1	1.06mi
5757 Hickory Creek Rd Unit 318 River Ridge, LA	2.0	2.0	1050	$1,445	$1.38	45d	1	1.07mi
1216 Hymelia Ave Metairie, LA	4.0	2.0	1400	$3,500	$2.50	5d	1	1.10mi
621 S Bengal Rd Metairie, LA	3.0	2.0	900	$1,600	$1.78	4d	1	1.11mi
5819 Hickory Creek Rd Unit 232 Elmwood, LA	2.0	2.0	1100	$1,575	$1.43	3d	1	1.12mi
5819 Hickory Creek Rd Unit 201 Elmwood, LA	2.0	2.0	1100	$1,485	$1.35	45d	1	1.12mi
5819 Hickory Creek Rd Unit 315 Elmwood, LA	2.0	2.0	1100	$1,510	$1.37	16d	1	1.12mi
5819 Hickory Creek Rd Unit 260 Elmwood, LA	2.0	2.0	1100	$1,675	$1.52	3d	1	1.12mi
128 Phyllis Ct New Orleans, LA	3.0	2.0	1264	$2,400	$1.90	25d	1	1.13mi
413 Maryland Ave Metairie, LA	3.0	2.0	1330	$1,400	$1.05	25d	1	1.14mi
1901 Cypress Creek Rd New Orleans, LA	1.0–2.0	1.0–2.0	936	$1,695	$1.81	3d	8	1.15mi
1620 Hickory Ave Unit C Harahan, LA	2.0	1.5	1180	$1,350	$1.14	45d	1	1.23mi
1536 Hickory Ave Apt D Harahan, LA	2.0	1.5	1250	$1,675	$1.34	45d	1	1.29mi
1536 Hickory Ave New Orleans, LA	2.0	1.5	1200	$1,650	$1.38	45d	1	1.29mi
1528 Hickory Ave Unit D Harahan, LA	2.0	1.5	1250	$1,675	$1.34	45d	1	1.31mi
1001 Maine Ave Kenner, LA	2.0	1.0	985	$1,600	$1.62	46d	1	1.32mi
1709 N Atlanta St Metairie, LA	3.0	1.5	1007	$1,800	$1.79	16d	1	1.33mi
1108 Maryland Ave Kenner, LA	3.0	1.0	1050	$2,050	$1.95	16d	1	1.34mi
1712 Michigan Ave Kenner, LA	3.0	1.0	1068	$1,900	$1.78	46d	1	1.44mi

Listing history 4 events

1. 2025-11-14
   status Pending
2. 2025-11-07
   listed $70,000 Active

   Show marketing remark (265 chars)

   Attention Investors, Builders and Flippers. Opportunity awaits on this three bedroom, one bath home situated in a quiet, friendly neighborhood. Home was damaged during Hurricane Ida. Possible Mold present. Utilities are not on and Seller will not make any repairs..

3. 2025-11-07
   listed $70,000 265-char remark

   Show marketing remark (265 chars)

   Attention Investors, Builders and Flippers. Opportunity awaits on this three bedroom, one bath home situated in a quiet, friendly neighborhood. Home was damaged during Hurricane Ida. Possible Mold present. Utilities are not on and Seller will not make any repairs..

4. 1992-06-01
   soldstatus

ⓘ 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: $1,088 · $91/mo
• Projected year-2 tax: $1,088 · $91/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: $21,331
• − Mortgage interest: −$3,921
• − Property taxes: −$1,088
• − Insurance: −$350
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − Depreciation: −$2,036
• Taxable income: $10,522
• Est. tax owed @ 24.0%: −$2,525
• After-tax cash flow: $8,483/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 — Metairie

• Score: 87/100
• State rank: #1
• US rank: #261

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Metairie, LA
• County: Jefferson Parish · 426,999 people
• City population: 137,978
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 39,344
• Household income: $76,261
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 710.0

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 (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Two or more races 12% Black 8% Asian 5%
• Hispanic origin (detail): Mexican 3% Cuban 1%
• Common ancestry: Lithuanian 12% Scotch-Irish 1% Slovak 1%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 12% Other Indo-European 3% Arabic 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: ▼ -252.03%
• Current HPI: 138.5632
• Rent YoY: ▲ 2.15%
• 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

+0.0% since first listed

4 events — show timeline

• 2025-11-14 Pending — GSREIN
• 2025-11-07 Listed $70,000 AcadianaMLS
• 2025-11-07 Listed $70,000 GSREIN
• 1992-06-01 Sold (Public Records) — Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,088 · +5.2% YoY. Source: county tax records.