3501 45th St · Metairie, LA 70001

$350,000

5 bd · 2.5 ba · 2,268 sqft · SingleFamily · 28 Days on market

Built 1958 5,998 sqft lot $154/sqft · 7% below area Est $378k · 7% under

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Why this score? — see what drove the D 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 +13.4/30.0
• ARV discount +10.8/15.0
• Livability +4.4/5.0
• DSCR +4.0/10.0
• 1% rule +3.3/10.0
• 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

Wonderful opportunity to reimagine this home with charming original details throughout. Home features a great layout, original wood doors, high quality wood paneling throughout, well made kitchen cabinets, wonderful eat in kitchen and breakfast nook. New roof installed in 2022, HVAC evaporator coil replaced recently, house has never flooded, in flood zone X. Upstairs has five bedrooms, new luxury vinyl plank flooring. The enclosed patio, once a two car garage, offers a great space for entertaining.

Key facts

• Original wood doors
• Breakfast nook
• Eat in kitchen

Tags

• ORIGINAL WOOD DOORS
• HIGH QUALITY WOOD PANELING
• WELL MADE KITCHEN CABINETS
• EAT IN KITCHEN
• BREAKFAST NOOK
• NEW ROOF

Property features AI

Finance

• Other: Corner lot on a city lot (60 x 100, approximately 0.1377 acres); Rectangular lot

Exterior

• Parking: Attached covered parking with three or more spaces
• Security: Security system
• Utilities: Public water; Public sewer
• Home design: 2-story; Very good condition
• Construction: Brick and vinyl siding; Shingle roof; Slab foundation; Built with brick and vinyl siding
• Exterior features: Enclosed porch; Brick and concrete screened porch; Shed(s)

Interior

• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Attic; Ceiling fans; Pantry; Pull-down attic stairs; Cable TV
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-57 ($-688/yr) — negative.
• To cash-flow at today's rent, offer at most $340k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $290k (17.1% below list).
• Recommended offer: $290k (17.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Joseph C Moscona School (math 21% / reading 31%, grade F, #374 of 646 statewide, top 58%, 562 students, 60% FRL); J.D. Meisler Middle School (math 13% / reading 28%, grade F, #161 of 218 statewide, top 76%, 753 students, 50% FRL); Riverdale High School (math 36% / reading 52%, grade F, #62 of 265 statewide, top 23%, 1,019 students, 50% FRL) — zoned schools average 53% FRL vs 70% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.0%/yr); 211 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• At $2,900/mo this rent would consume 51% of the median local household income ($68k/yr) (locally 1988% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago 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.
• Current owner paid $301k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $290,028 (17.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1958 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.83% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.11%
• DSCR: 1.00
• GRM: 10.1

CMA / ARV

• ARV (median comp): $378,006
• List price: $350,000
• Delta: -6.09%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3619 46th St	0.14mi	4/2.0 (-1)	2,273 (+0%)	5mo	$275,000	$121	82
3716 46th St	0.21mi	4/2.5 (-1)	2,300 (+1%)	8mo	$410,000	$178	76
3701 Kim St	0.18mi	4/2.5 (-1)	2,354 (+4%)	8mo	$429,875	$183	74
3225 42nd St	0.26mi	4/3.0 (-1)	2,544 (+12%)	2mo	$432,000	$170	59
3105 39th St	0.48mi	4/2.0 (-1)	2,315 (+2%)	10mo	$495,000	$214	59
2205 Belmont Pl	0.74mi	4/2.0 (-1)	2,205 (-3%)	1mo	$338,000	$153	53
2113 Krisma St	0.41mi	4/2.0 (-1)	2,071 (-9%)	8mo	$345,000	$167	53
2000 Madison St	0.69mi	4/2.0 (-1)	2,075 (-8%)	1mo	$280,000	$135	46
1109 Manson Ave	0.74mi	4/2.0 (-1)	2,152 (-5%)	8mo	$475,000	$221	44
600 Metairie Lawn Dr	0.51mi	4/3.5 (-1)	2,602 (+15%)	1mo	$482,000	$185	42
2120 Belmont Pl	0.74mi	4/2.5 (-1)	2,028 (-11%)	2mo	$300,000	$148	41
1404 Madison St	0.57mi	4/3.0 (-1)	2,557 (+13%)	7mo	$399,000	$156	39

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.8%
• Equity multiple: 0.30×
• Total profit: $-68,864
• Equity at exit: $52,186

10-year hold

• IRR: -22.6%
• Equity multiple: 0.00×
• Total profit: $-97,510
• Equity at exit: $30,262

Cash invested: $98,000 (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 70001

• Rents YoY: -0.0%
• Active inventory: 211
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,900 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$301 /mo · $3,610/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $-57

Break-even live

Break-even rent $2,973

Max offer price $339,876

Occupancy floor 97%

Sensitivity live

Price	-10% $141	-5% $42	+0% $-57	+5% $-156	+10% $-255
Rent	-10% $-286	-5% $-172	+0% $-57	+5% $57	+10% $172
Rate	-1.0pp $119	-0.5pp $32	base $-57	+0.5pp $-148	+1.0pp $-240

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1916 Metairie Heights Ave Metairie, LA	4.0	2.0	2250	$2,800	$1.24	25d	1	0.77mi
3717 Lilac Ln Metairie, LA	4.0	2.5	2308	$2,350	$1.02	25d	1	0.81mi
132 Hesper Ave Metairie, LA	4.0	4.0	2598	$5,500	$2.12	45d	1	0.83mi
4002 Georgetown Dr Metairie, LA	4.0	2.5	1875	$1,800	$0.96	25d	1	0.98mi
2508 Danny Park Metairie, LA	4.0	2.0	2000	$2,200	$1.10	25d	1	1.02mi
1015 Roselawn St Metairie, LA	5.0	4.0	2525	$3,000	$1.19	4d	1	1.06mi

Listing history 25 events

1. 2026-06-21
   days on market $350,000 Active 28 DOM
2. 2026-06-18
   days on market $350,000 Active 25 DOM
3. 2026-06-17
   days on market $350,000 Active 24 DOM
4. 2026-06-16
   days on market $350,000 Active 23 DOM
5. 2026-06-15
   days on market $350,000 Active 22 DOM
6. 2026-06-13
   days on market $350,000 Active 20 DOM
7. 2026-06-10
   days on market $350,000 Active 17 DOM
8. 2026-06-09
   days on market $350,000 Active 16 DOM
9. 2026-06-08
   days on market $350,000 Active 15 DOM
10. 2026-06-07
    days on market $350,000 Active 14 DOM
11. 2026-06-03
    days on market $350,000 Active 10 DOM
12. 2026-06-02
    days on market $350,000 Active 9 DOM
13. 2026-06-01
    days on market $350,000 Active 8 DOM
14. 2026-05-31
    days on market $350,000 Active 7 DOM
15. 2026-05-05
    listed $355,000 Active 503-char remark
16. 2026-05-05
    listed $355,000 Active 503-char remark
17. 2026-04-13
    price $360,000
18. 2026-04-13
    price $360,000
19. 2026-03-20
    listed $369,000 Active
20. 2021-05-03
    soldstatus $301,125
21. 2021-04-30
    soldstatus $301,125 Closed
22. 2021-04-01
    status Pending
23. 2021-03-29
    listed $295,000
24. 2021-03-29
    listed $295,000 Active
25. 1986-12-01
    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: $3,610 · $301/mo
• Projected year-2 tax: $3,610 · $301/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 · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $34,803
• − Mortgage interest: −$19,605
• − Property taxes: −$3,610
• − Insurance: −$2,548
• − Repairs & maintenance: −$2,784
• − Management: −$2,784
• − Depreciation: −$10,182
• Taxable loss: −$6,710
• Est. tax savings @ 24.0%: +$1,610
• After-tax cash flow: $923/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): 38,950
• Household income: $67,923
• Rent vs Own: 48.6% rent · 51.4% own
• Severe rent burden: 1988.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 62% Hispanic / Latino 17% Black 15% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 1% Cuban 2%
• Common ancestry: Lithuanian 13% Italian 1% Hispanic 1%
• Foreign-born: 12% · Canada, China, Philippines
• Languages at home: 84% English-only · Spanish 12% Arabic 1% Other Indo-European 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: ▼ -296.45%
• Current HPI: 151.4615
• Rent YoY: ▬ -0.04%
• 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

+18.6% since first listed

12 events — show timeline

• 2026-05-24 Listed $350,000 GSREIN
• 2026-05-24 Listed $350,000 AcadianaMLS
• 2026-05-05 Listed $355,000 AcadianaMLS
• 2026-04-13 Price Changed $360,000 AcadianaMLS
• 2026-04-13 Price Changed $360,000 GSREIN
• 2026-03-20 Listed $369,000 AcadianaMLS
• 2021-05-03 Sold (Public Records) $301,125 Public Records
• 2021-04-30 Sold (MLS) $301,125 GSREIN
• 2021-04-01 Pending — GSREIN
• 2021-03-29 Listed $295,000 GSREIN
• 2021-03-29 Listed $295,000 AcadianaMLS
• 1986-12-01 Sold (Public Records) — Public Records

Property tax history

+10.8%/yr

Latest (2025): $3,610 · +0.2% YoY. Source: county tax records.