734 Homestead Ave · Metairie, LA 70005

$315,000

3 bd · 2.0 ba · 1,506 sqft · SingleFamily · 138 Days on market

Built 1951 6,000 sqft lot $209/sqft · 14% below area Est $365k · 14% under ↓ 10% since listing

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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).

• ARV discount +13.7/15.0
• Cash flow +13.1/30.0
• Livability +4.4/5.0
• DSCR +3.9/10.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single Family Residence in Desirable, Walkable Metairie Neighborhood situated on the Metairie Ridge. Home has never flooded and is located convenient to interstate, shopping, restaurants. BUYER'S AGENT PROTECTED 1506 Sq Ft 50' X 120' lot 3 bedroom / 2 Bath Central Air and Heat Spacious Kitchen Living Room Dining / Den Combination Detached Garage NEW ROOF 2021 Original Hardwood Floors in Living and Bedrooms

Key facts

• Never flooded
• Spacious kitchen
• New roof

Tags

• METAIRIE RIDGE
• NEVER FLOODED
• CONVENIENT TO INTERSTATE
• SPACIOUS KITCHEN
• ORIGINAL HARDWOOD FLOORS
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $-75 ($-905/yr) — negative.
• To cash-flow at today's rent, offer at most $302k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (25.8% below list).
• Recommended offer: $234k (25.8% 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: Marie B. Riviere Elementary School (math 33% / reading 33%, grade F, #297 of 646 statewide, top 46%, 612 students, 52% 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 51% FRL vs 70% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.3%/yr); 178 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• This rent runs 31% of the median local income ($89k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($277k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1951 — 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 $233,798 (25.8% 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. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.74% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.12%
• DSCR: 0.99
• GRM: 11.2

CMA / ARV

• ARV (median comp): $365,126
• List price: $315,000
• Delta: -13.73%
• 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
630 Brockenbraugh Ct	0.05mi	3/1.5	1,641 (+9%)	6mo	$275,000	$168	76
936 Elmeer Ave	0.50mi	3/2.0	1,450 (-4%)	1mo	$381,756	$263	69
761 E William David Pkwy	0.50mi	2/2.0 (-1)	1,539 (+2%)	1mo	$375,000	$244	67
953 Elmeer Ave	0.55mi	3/2.0	1,557 (+3%)	4mo	$349,000	$224	66
758 Rosa Ave	0.42mi	3/2.0	1,629 (+8%)	2mo	$430,000	$264	65
825 Elmeer Ave	0.33mi	3/2.0	1,695 (+12%)	2mo	$375,000	$221	62
927 Rosa Ave	0.64mi	3/2.0	1,575 (+5%)	5mo	$384,000	$244	58
745 Oaklawn Dr	0.50mi	3/2.0	1,635 (+9%)	7mo	$316,000	$193	57
429 Aris Ave	0.69mi	2/2.0 (-1)	1,459 (-3%)	3mo	$277,000	$190	55
745 Melody Dr	0.52mi	2/2.0 (-1)	1,363 (-10%)	0mo	$200,000	$147	55
3133 Metairie Ct	0.73mi	3/2.0	1,634 (+8%)	2mo	$295,000	$181	50
1136 Helios Ave	0.74mi	3/2.0	1,725 (+14%)	3mo	$412,000	$239	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: -21.0%
• Equity multiple: 0.29×
• Total profit: $-62,817
• Equity at exit: $46,968

10-year hold

• IRR: -22.1%
• Equity multiple: 0.00×
• Total profit: $-87,854
• Equity at exit: $27,235

Cash invested: $88,200 (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 70005

• Rents YoY: -0.3%
• Active inventory: 178
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,338 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$73 /mo · $873/yr
• Insurance: −$131
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $-75

Break-even live

Break-even rent $2,433

Max offer price $301,684

Occupancy floor 98%

Sensitivity live

Price	-10% $103	-5% $14	+0% $-75	+5% $-165	+10% $-254
Rent	-10% $-260	-5% $-168	+0% $-75	+5% $17	+10% $109
Rate	-1.0pp $83	-0.5pp $5	base $-75	+0.5pp $-157	+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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
723 Bonnabel Blvd Metairie, LA	2.0	1.0	1200	$1,800	$1.50	16d	1	0.26mi
420 E William David Pkwy Metairie, LA	2.0	2.0	1585	$2,000	$1.26	6d	1	0.30mi
728 Bonnabel Blvd Unit 1 Metairie, LA	3.0	2.0	2000	$3,500	$1.75	45d	1	0.31mi
437 Elmeer Ave Metairie, LA	3.0	2.0	2041	$3,950	$1.94	23d	1	0.35mi
644 Oaklawn Dr Metairie, LA	3.0	2.0	1504	$2,300	$1.53	16d	1	0.35mi
1708 Feronia St Metairie, LA	2.0	2.0	1321	$2,500	$1.89	45d	1	0.44mi
1708 Feronia St Metairie, LA	2.0	3.0	1321	$2,500	$1.89	4d	1	0.44mi
1627 Feronia St Metairie, LA	2.0	1.0	1176	$1,650	$1.40	45d	1	0.44mi
1629 Feronia St Metairie, LA	2.0	2.0	1176	$1,800	$1.53	25d	1	0.44mi
517 Rosa Ave Metairie, LA	3.0	2.0	1900	$2,100	$1.11	6d	1	0.45mi
609 Melody Dr Metairie, LA	3.0	1.0	1372	$2,150	$1.57	25d	1	0.59mi
1055 Bonnabel Blvd Metairie, LA	3.0	2.0	1581	$2,650	$1.68	4d	1	0.59mi
1055 Bonnabel Blvd Metairie, LA	3.0	2.0	1581	$2,650	$1.68	5d	1	0.59mi
261 Elmeer Ave Metairie, LA	2.0	1.5	1650	$1,725	$1.05	45d	1	0.60mi
517 Beverly Garden Dr Metairie, LA	3.0	2.0	1700	$2,000	$1.18	46d	1	0.62mi
1129 Aurora Ave Metairie, LA	3.0	1.5	1200	$2,000	$1.67	45d	1	0.62mi
801 Rue Burgundy #215 Metairie, LA	2.0	2.0	1763	$3,500	$1.99	45d	1	0.64mi
801 Rue Burgundy #319 Metairie, LA	2.0	2.0	1763	$3,250	$1.84	16d	1	0.64mi
504 Nursery Ave Metairie, LA	3.0	2.0	1267	$2,500	$1.97	16d	1	0.72mi
2700 Whitney Pl #826 Metairie, LA	2.0	2.0	1200	$1,500	$1.25	45d	1	0.76mi
375 Aris Ave Metairie, LA	4.0	2.0	1480	$2,100	$1.42	25d	1	0.79mi
3017 Clifford Dr Metairie, LA	3.0	2.0	1900	$2,500	$1.32	25d	1	0.80mi
111 Elmeer Ave Apt A Metairie, LA	2.0	1.0	1050	$1,750	$1.67	45d	1	0.80mi
234 Cherry St Unit F Metairie, LA	3.0	2.0	1150	$1,500	$1.30	45d	1	0.81mi
3108 Ridgeway Dr Metairie, LA	3.0	2.0	1446	$2,100	$1.45	6d	1	0.82mi
3104 Clifford Dr Metairie, LA	4.0	2.0	2018	$2,700	$1.34	25d	1	0.86mi
1253 Bonnabel Blvd Metairie, LA	3.0	2.5	1660	$2,350	$1.42	25d	1	0.88mi
1117 Andrews Ave Metairie, LA	3.0	2.0	1770	$2,600	$1.47	45d	1	0.89mi
1916 Metairie Heights Ave Metairie, LA	4.0	2.0	2250	$2,800	$1.24	25d	1	0.91mi
619 Pink St Metairie, LA	2.0	1.0	1075	$2,000	$1.86	45d	1	0.98mi
216 Nursery Ave Metairie, LA	2.0	1.5	1100	$1,800	$1.64	4d	1	1.00mi
216 Nursery Ave Metairie, LA	2.0	1.5	1100	$1,800	$1.64	5d	1	1.00mi
6256 Bellaire Dr Unit 6254 New Orleans, LA	3.0	2.0	1510	$1,850	$1.23	22d	1	1.01mi
428 16th St New Orleans, LA	3.0	2.0	1682	$2,350	$1.40	19d	1	1.03mi
309 Lilac St Metairie, LA	3.0	2.5	1750	$1,745	$1.00	45d	1	1.05mi
130 Helios Ave Metairie, LA	2.0	2.5	1793	$2,600	$1.45	16d	1	1.07mi
2 Azalea Ct Metairie, LA	2.0	1.0	1100	$1,650	$1.50	45d	1	1.08mi
1421 Carrollton Ave Metairie, LA	3.0	2.0	1300	$1,650	$1.27	45d	1	1.08mi
113 Rosebud St Unit A Metairie, LA	2.0	2.0	1200	$1,700	$1.42	45d	1	1.09mi
318 18th St New Orleans, LA	3.0	2.0	1600	$2,320	$1.45	25d	1	1.12mi

Listing history 7 events

1. 2026-06-03
   days on market $315,000 Active 138 DOM
2. 2026-06-02
   days on market $315,000 Active 137 DOM
3. 2026-06-01
   days on market $315,000 Active 136 DOM
4. 2026-05-31
   days on market $315,000 Active 135 DOM
5. 2026-04-23
   soldstatus $285,000
6. 2026-01-16
   listed $315,000 Active 410-char remark

   Show marketing remark (410 chars)

   Single Family Residence in Desirable, Walkable Metairie Neighborhood situated on the Metairie Ridge. Home has never flooded and is located convenient to interstate, shopping, restaurants. BUYER'S AGENT PROTECTED 1506 Sq Ft 50' X 120' lot 3 bedroom / 2 Bath Central Air and Heat Spacious Kitchen Living Room Dining / Den Combination Detached Garage NEW ROOF 2021 Original Hardwood Floors in Living and Bedrooms

7. 1996-12-01
   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: $873 · $73/mo
• Projected year-2 tax: $1,732 · $144/mo
• Expected delta: +$859/yr (+$72/mo · 98.4%)

ⓘ 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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,056
• − Mortgage interest: −$17,645
• − Property taxes: −$873
• − Insurance: −$2,372
• − Repairs & maintenance: −$2,244
• − Management: −$2,244
• − Depreciation: −$9,164
• Taxable loss: −$6,488
• Est. tax savings @ 24.0%: +$1,557
• After-tax cash flow: $652/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): 24,088
• Household income: $89,194
• Rent vs Own: 34.9% rent · 65.1% own
• Severe rent burden: 711.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 13% Two or more races 8% Asian 2% Native American 2% Black 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 21% Slovak 2% Iranian 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 8% French/Haitian/Cajun 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: ▼ -371.32%
• Current HPI: 142.4955
• Rent YoY: ▼ -0.31%
• 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

-9.5% since first listed

3 events — show timeline

• 2026-04-23 Sold (Public Records) $285,000 Public Records
• 2026-01-16 Listed $315,000 ForSaleByOwner.com
• 1996-12-01 Sold (Public Records) — Public Records

Property tax history

+1.0%/yr

Latest (2025): $873 · +0.2% YoY. Source: county tax records.