812 Martin Behrman Ave Unit H · Metairie, LA 70005

$89,000

1 bd · 1.0 ba · 981 sqft · Townhouse · 43 Days on market

Built 1978 1,067 sqft lot $91/sqft · 43% below area Est $157k · 43% under $300/mo HOA · 21% of rent ↓ 1% since listing

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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 +28.6/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.4/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Priced to sell! Spacious one bedroom unit on end with beautiful ceramic tile throughout. All appliances with washer and dryer included. Different from other units with custom shelf in living area for additional storage. French doors leading to outside as well. Access to building only by key. Easy access to I-10, shopping and restaurants. $300 HOA fee monthly. Contact listing agent for showing.

Key facts

• Custom shelf
• Access to i-10
• French doors

Tags

• CERAMIC TILE
• CUSTOM SHELF
• FRENCH DOORS
• ACCESS TO I-10
• SHOPPING AND RESTAURANTS

Property features AI

Finance

• HOA & community: Association fee of $300 (includes common areas, gas, and water); Community features include common grounds/area and public transportation access

Exterior

• Parking: Off-street parking; Driveway with two spaces; Parking available
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: 2-story building; Brick construction
• Construction: Brick exterior; Asphalt shingle roof; Slab foundation; Property in excellent condition; Built as part of a multi-unit property (16 units total)
• Exterior features: Fence; Permeable paving; City lot

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: 5 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Pantry; Cable TV
• Laundry & utility: In-unit laundry; Washer hookup; Dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $89k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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); Grace King High School (math 16% / reading 23%, grade F, #186 of 265 statewide, top 73%, 1,463 students, 47% FRL) — zoned schools average 50% FRL vs 70% district-wide (20 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 25d 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 $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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 $50k; list at $89k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.64% ✓
• Cap rate: 10.25%
• Cash-on-cash: 14.13%
• DSCR: 1.63
• GRM: 5.1

CMA / ARV

• ARV (median comp): $156,697
• List price: $89,000
• Delta: -43.20%
• 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
222 London Ave #218	0.39mi	2/1.5 (+1)	1,000 (+2%)	2mo	$106,000	$106	70
222 London Ave #106	0.39mi	2/1.0 (+1)	1,000 (+2%)	12mo	$102,000	$102	63
222 London Ave #212	0.39mi	2/1.5 (+1)	950 (-3%)	8mo	$96,000	$101	63
1128 Lake Ave #1128	0.40mi	2/1.5 (+1)	942 (-4%)	6mo	$115,000	$122	63
1114 Lake Ave #1114	0.41mi	2/1.5 (+1)	940 (-4%)	7mo	$125,000	$133	61
222 London Ave #111	0.39mi	2/1.0 (+1)	1,000 (+2%)	16mo	$82,000	$82	60
1401 Lake Ave Unit D3	0.67mi	2/1.5 (+1)	1,008 (+3%)	2mo	$89,000	$88	56
1161 Lake Ave #109	0.45mi	2/1.0 (+1)	900 (-8%)	13mo	$82,000	$91	50
1161 Lake Ave #203	0.45mi	2/1.0 (+1)	900 (-8%)	14mo	$125,000	$139	49
213 W Esplanade Ave #213	0.75mi	2/1.5 (+1)	1,021 (+4%)	4mo	$99,500	$97	48
1401 Lake Ave Unit B-1	0.67mi	2/1.5 (+1)	1,040 (+6%)	10mo	$95,000	$91	43
1448 Carrollton Ave #201	0.75mi	2/1.5 (+1)	1,056 (+8%)	14mo	$129,000	$122	33

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: 0.2%
• Equity multiple: 1.01×
• Total profit: $157
• Equity at exit: $13,270

10-year hold

• IRR: 5.5%
• Equity multiple: 1.34×
• Total profit: $8,358
• Equity at exit: $7,695

Cash invested: $24,920 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,461 high
• Mortgage (P&I): −$467
• Tax from tax record: −$57 /mo · $682/yr
• Insurance: −$37
• HOA: −$300
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $293

Break-even live

Break-even rent $1,089

Max offer price $89,000

Occupancy floor 75%

Sensitivity live

Price	-10% $344	-5% $319	+0% $293	+5% $268	+10% $243
Rent	-10% $178	-5% $236	+0% $293	+5% $351	+10% $409
Rate	-1.0pp $338	-0.5pp $316	base $293	+0.5pp $270	+1.0pp $247

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
812 Martin Behrman Ave Unit A Metairie, LA	1.0	1.0	700	$1,250	$1.79	45d	1	0.03mi
222 London Ave #218 Metairie, LA	2.0	1.5	1000	$1,400	$1.40	3d	1	0.37mi
1044 Lake Ave Unit D Metairie, LA	2.0	2.0	1044	$1,300	$1.25	45d	1	0.38mi
1161 Lake Ave #120 Metairie, LA	1.0	1.0	750	$1,400	$1.87	45d	1	0.43mi
1161 Lake Ave #222 Metairie, LA	2.0	1.0	770	$1,250	$1.62	45d	1	0.43mi
1161 Lake Ave #205 Metairie, LA	1.0	1.0	775	$1,430	$1.85	45d	1	0.43mi
509 E William David Pkwy Unit A Metairie, LA	1.0	1.0	700	$1,650	$2.36	25d	1	0.45mi
625 Papworth Ave Unit B Metairie, LA	2.0	1.0	1020	$1,500	$1.47	6d	1	0.58mi
625 Papworth Ave Apt E Metairie, LA	2.0	1.0	928	$1,000	$1.08	6d	1	0.58mi
1212 Brockenbraugh Ct Unit D Metairie, LA	2.0	1.0	957	$1,050	$1.10	45d	1	0.61mi
1401 Lake Ave Unit C6 Metairie, LA	2.0	1.5	1040	$1,625	$1.56	45d	1	0.64mi
320 18th St New Orleans, LA	2.0	1.0	850	$1,350	$1.59	25d	1	0.70mi
506 Nursery Ave Metairie, LA	2.0	1.0	725	$1,500	$2.07	6d	1	0.71mi
213 W Esplanade Ave #213 Metairie, LA	2.0	1.5	1021	$1,400	$1.37	45d	1	0.72mi
6537 Bellaire Dr New Orleans, LA	2.0	2.0	1100	$1,750	$1.59	25d	1	0.74mi
243 14th St New Orleans, LA	2.0	1.0	902	$1,500	$1.66	25d	1	0.78mi
422-424 Nursery Ave Metairie, LA	2.0	1.0	1030	$2,050	$1.99	6d	1	0.78mi
230 16th St New Orleans, LA	2.0	1.0	750	$1,875	$2.50	3d	1	0.79mi
6616 Bellaire Dr New Orleans, LA	2.0	1.0	850	$1,500	$1.76	25d	1	0.80mi
112 Glenn St Unit G Metairie, LA	2.0	1.0	750	$1,275	$1.70	25d	1	0.83mi
423 Canal St Metairie, LA	2.0	1.0	1000	$1,600	$1.60	6d	1	0.84mi
6564 Fleur de Lis Dr New Orleans, LA	1.0	1.0	600	$1,050	$1.75	25d	1	0.87mi
1554 Orpheum Ave Unit 2 Metairie, LA	1.0	1.5	700	$1,050	$1.50	45d	1	0.88mi
6622 Fleur De Lis Dr Unit 2 New Orleans, LA	2.0	1.0	950	$1,400	$1.47	25d	1	0.91mi
343 Aris Ave Metairie, LA	2.0	1.0	900	$1,200	$1.33	45d	1	0.91mi
801 Live Oak St Unit B Metairie, LA	2.0	1.0	840	$1,350	$1.61	25d	1	0.93mi
6650 Fleur De Lis Dr #5 New Orleans, LA	1.0	1.0	600	$1,100	$1.83	25d	1	0.93mi
301 Seattle St New Orleans, LA	2.0	1.0	660	$1,475	$2.23	23d	3	0.93mi
1518 Sylvia Ave Metairie, LA	1.0	1.0	1009	$1,650	$1.64	25d	1	0.94mi
6629 Fleur De Lis Dr Apt 6 New Orleans, LA	1.0	1.0	750	$1,150	$1.53	13d	1	0.96mi
505 Lake Ave Unit 3 Metairie, LA	1.0	1.0	585	$1,465	$2.50	6d	1	0.98mi
505 Lake Ave Unit 11 Metairie, LA	2.0	1.0	900	$1,665	$1.85	45d	1	0.99mi
1508 Seminole Ave Unit 207 Metairie, LA	1.0	1.0	550	$905	$1.65	16d	1	0.99mi
444 Orion Ave Metairie, LA	2.0	1.0	948	$2,200	$2.32	45d	1	0.99mi
306 Nursery Ave Metairie, LA	2.0	1.0	1000	$2,500	$2.50	45d	1	1.00mi
1639 Lake Ave Unit 6 Metairie, LA	2.0	1.0	1000	$1,200	$1.20	45d	1	1.00mi
420 Metairie Hammond Hwy Metairie, LA	1.0–2.0	1.0	808	$2,000	$2.48	23d	4	1.02mi
420 Metairie Hammond Hwy Metairie, LA	1.0–2.0	1.0	808	$2,000	$2.48	25d	4	1.02mi
2912 Metairie Ct Unit 14 Metairie, LA	2.0	1.0	800	$1,200	$1.50	3d	1	1.04mi
2912 Metairie Ct Unit 09 Metairie, LA	2.0	1.0	800	$1,210	$1.51	3d	1	1.04mi

HOA detail

• Monthly dues: $300 · $3,600/yr

Listing history 22 events

1. 2026-06-21
   days on market $89,000 Active 43 DOM
2. 2026-06-18
   days on market $89,000 Active 40 DOM
3. 2026-06-17
   days on market $89,000 Active 39 DOM
4. 2026-06-16
   days on market $89,000 Active 38 DOM
5. 2026-06-15
   days on market $89,000 Active 37 DOM
6. 2026-06-13
   days on market $89,000 Active 35 DOM
7. 2026-06-10
   days on market $89,000 Active 32 DOM
8. 2026-06-09
   days on market $89,000 Active 31 DOM
9. 2026-06-08
   days on market $89,000 Active 30 DOM
10. 2026-06-07
    days on market $89,000 Active 29 DOM
11. 2026-06-03
    days on market $89,000 Active 25 DOM
12. 2026-06-02
    days on market $89,000 Active 24 DOM
13. 2026-06-01
    days on market $89,000 Active 23 DOM
14. 2026-05-31
    days on market $89,000 Active 22 DOM
15. 2026-05-09
    listed $89,000 Active 397-char remark

    Show marketing remark (396 chars)

    Priced to sell! Spacious one bedroom unit on end with beautiful ceramic tile throughout. All appliances with washer and dryer included. Different from other units with custom shelf in living area for additional storage. French doors leading to outside as well. Access to building only by key. Easy access to I-10, shopping and restaurants. $300 HOA fee monthly. Contact listing agent for showing.

16. 2026-05-09
    listed $89,000 Active 396-char remark

    Show marketing remark (396 chars)

    Priced to sell! Spacious one bedroom unit on end with beautiful ceramic tile throughout. All appliances with washer and dryer included. Different from other units with custom shelf in living area for additional storage. French doors leading to outside as well. Access to building only by key. Easy access to I-10, shopping and restaurants. $300 HOA fee monthly. Contact listing agent for showing.

17. 2026-05-01
    historical $1,200
18. 2026-03-24
    listed $1,200
19. 2014-07-09
    soldstatus $50,000
20. 2004-10-29
    soldstatus $83,500

    Show marketing remark (146 chars)

    Nice one-bedroom, 1 bath condo on ground floor facing a nice patio and yard. Each unit has washer and dryer. Kitchen overlooks den. Large closets.

21. 2004-08-20
    listed $90,000

    Show marketing remark (146 chars)

    Nice one-bedroom, 1 bath condo on ground floor facing a nice patio and yard. Each unit has washer and dryer. Kitchen overlooks den. Large closets.

22. 2004-08-20
    listed $90,000

    Show marketing remark (146 chars)

    Nice one-bedroom, 1 bath condo on ground floor facing a nice patio and yard. Each unit has washer and dryer. Kitchen overlooks den. Large closets.

ⓘ 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: $682 · $57/mo
• Projected year-2 tax: $682 · $57/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: $17,529
• − Mortgage interest: −$4,985
• − Property taxes: −$682
• − Insurance: −$445
• − Repairs & maintenance: −$1,402
• − Management: −$1,402
• − HOA: −$3,600
• − Depreciation: −$2,589
• Taxable income: $2,424
• Est. tax owed @ 24.0%: −$582
• After-tax cash flow: $2,939/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

-1.1% since first listed

8 events — show timeline

• 2026-05-09 Listed $89,000 AcadianaMLS
• 2026-05-09 Listed $89,000 GSREIN
• 2026-05-01 Rental Removed $1,200 RAAMLS
• 2026-03-24 Listed for Rent $1,200 RAAMLS
• 2014-07-09 Sold (Public Records) $50,000 Public Records
• 2004-10-29 Sold (MLS) $83,500 GSREIN
• 2004-08-20 Listed $90,000 AcadianaMLS
• 2004-08-20 Listed $90,000 GSREIN

Property tax history

-3.0%/yr

Latest (2025): $682 · +0.1% YoY. Source: county tax records.