908 Minnesota Ave · Metairie, LA 70062

$139,900

3 bd · 2.0 ba · 1,593 sqft · SingleFamily · 14 Days on market

Built 1970 6,708 sqft lot $88/sqft · 50% below area Est $280k · 50% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Livability +4.4/5.0
• 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

Great Location, Great neighborhood, what more can you ask for. This home features open living/dining, den and kitchen with added breakfast nook, 3 nice sized bedroom and 2 full baths all with about 1593 living area 2184 under roof. This comes, with a 1 car garage, large rear yard, and an extra bonus Solar Panels. Just waiting for your creative ideas. So, roll up your sleeves and turn this diamond in the rough into your dream home. Get your renovation loan in order before scheduling your viewing. Call today for your appointment.

Key facts

• Open living dining
• Large rear yard
• Den

Tags

• OPEN LIVING DINING
• DEN
• KITCHEN WITH BREAKFAST NOOK
• LARGE REAR YARD
• SOLAR PANELS

Property features AI

Finance

• Other: Listing modified by a human

Exterior

• Parking: Garage with one space
• Utilities: Public water; Public sewer
• Home design: One-story home
• Construction: Brick and vinyl siding exterior; Shingle (asphalt) roof; Slab foundation; Built with materials reported as brick and vinyl siding
• Exterior features: Covered patio/porch; City lot with rectangular shape; Lot dimensions approximately 55 x 122

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Window unit heating; Window unit cooling
• Interior features: Total of 6 rooms; Property reported in poor condition

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $523 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 11.3% 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.
• Market conditions: 92 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• At $1,970/mo this rent would consume 46% of the median local household income ($51k/yr) (locally 1082% 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 $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 14 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.
• Current owner paid $44k; list at $140k implies a 218% gain — meaningful room to come down on a strong offer.

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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.41% ✓
• Cap rate: 11.35%
• Cash-on-cash: 18.05%
• DSCR: 1.80
• GRM: 5.9

CMA / ARV

• ARV (median comp): $279,604
• List price: $139,900
• Delta: -49.96%
• 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
1005 Minnesota Ave	0.07mi	3/2.0	1,774 (+11%)	3mo	$335,000	$189	75
705 Cynthia Ave	0.51mi	3/2.0	1,557 (-2%)	1mo	$258,000	$166	72
1204 N Cumberland St	0.30mi	4/2.0 (+1)	1,490 (-6%)	1mo	$270,000	$181	69
27 Canberra Ct	0.49mi	4/2.0 (+1)	1,557 (-2%)	3mo	$158,500	$102	66
1117 Taylor St	0.69mi	3/2.0	1,575 (-1%)	0mo	$110,020	$70	66
2209 Maine Ave	0.53mi	3/2.0	1,502 (-6%)	1mo	$285,000	$190	65
1720 N Bengal Rd	0.60mi	3/2.0	1,520 (-5%)	2mo	$257,000	$169	63
1120 Trudeau Dr	0.63mi	3/2.0	1,673 (+5%)	1mo	$289,000	$173	62
705 N Upland Ave	0.35mi	4/2.0 (+1)	1,405 (-12%)	1mo	$265,000	$189	58
1408 N Starrett Rd	0.43mi	3/3.0	1,805 (+13%)	1mo	$245,000	$136	52
701 Thirba St	0.72mi	3/2.0	1,755 (+10%)	0mo	$404,000	$230	49
624 Lynnette Dr	0.41mi	4/1.0 (+1)	1,393 (-13%)	3mo	$125,000	$90	49

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: 7.0%
• Equity multiple: 1.27×
• Total profit: $10,689
• Equity at exit: $20,860

10-year hold

• IRR: 16.3%
• Equity multiple: 2.34×
• Total profit: $52,458
• Equity at exit: $12,096

Cash invested: $39,172 (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 70062

• Active inventory: 92
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,970 high
• Mortgage (P&I): −$734
• Tax from tax record: −$175 /mo · $2,102/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $523

Break-even live

Break-even rent $1,308

Max offer price $139,900

Occupancy floor 68%

Sensitivity live

Price	-10% $602	-5% $562	+0% $523	+5% $483	+10% $443
Rent	-10% $367	-5% $445	+0% $523	+5% $600	+10% $678
Rate	-1.0pp $593	-0.5pp $558	base $523	+0.5pp $486	+1.0pp $450

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 Minnesota Ave Kenner, LA	3.0	2.0	1800	$2,100	$1.17	44d	1	0.06mi
1108 Maryland Ave Kenner, LA	3.0	1.0	1050	$2,050	$1.95	15d	1	0.17mi
1712 Michigan Ave Kenner, LA	3.0	1.0	1068	$1,900	$1.78	45d	1	0.34mi
2013 Minnesota Ave Kenner, LA	4.0	2.0	1300	$2,000	$1.54	22d	1	0.47mi
413 Maryland Ave Metairie, LA	3.0	2.0	1330	$1,400	$1.05	24d	1	0.49mi
808 Cynthia Ave Metairie, LA	3.0	2.0	1500	$2,100	$1.40	15d	1	0.51mi
1807 Moisant St Kenner, LA	4.0	2.0	2000	$2,000	$1.00	24d	1	0.54mi
1711 Moisant St Kenner, LA	2.0	1.0	1097	$1,575	$1.44	5d	1	0.55mi
1300 Webster St Kenner, LA	3.0	2.0	1200	$1,700	$1.42	44d	1	0.64mi
1300 Webster St Kenner, LA	3.0	2.0	1200	$1,700	$1.42	24d	1	0.64mi
216 Trudeau Dr Metairie, LA	4.0	3.0	1825	$2,800	$1.53	5d	1	0.68mi
8817 25th St Metairie, LA	3.0	1.0	1390	$2,100	$1.51	5d	1	0.80mi
705 N Lester Ave Metairie, LA	3.0	2.0	1334	$2,100	$1.57	44d	1	0.87mi
606 N Wilson St Metairie, LA	3.0	1.5	1200	$1,800	$1.50	44d	1	0.95mi
929 Compromise St Kenner, LA	2.0	1.0	1500	$1,400	$0.93	24d	1	0.95mi
927 Compromise St Unit A Kenner, LA	2.0	1.0	1300	$1,100	$0.85	24d	1	0.95mi
2463 Idaho Ave Kenner, LA	2.0	1.5	1200	$1,550	$1.29	24d	1	0.97mi
2127 Connecticut Ave Unit A Kenner, LA	3.0	2.0	1310	$2,000	$1.53	44d	1	0.98mi
2606 Longwood Dr Metairie, LA	3.0	2.0	1200	$2,000	$1.67	24d	1	1.03mi
6908 Christine St Metairie, LA	3.0	2.0	1550	$2,000	$1.29	15d	1	1.07mi
6908 Christine St Metairie, LA	3.0	2.0	1550	$2,100	$1.35	24d	1	1.07mi
2012 Airline Park Blvd Metairie, LA	3.0	2.0	1583	$2,100	$1.33	24d	1	1.20mi
10613 Chadwick Dr New Orleans, LA	3.0	2.0	1460	$2,200	$1.51	3d	1	1.25mi
1712 Abadie Ave Metairie, LA	4.0	2.0	1900	$2,750	$1.45	24d	1	1.33mi
527 Little Farms Ave New Orleans, LA	3.0	2.0	1855	$2,800	$1.51	24d	1	1.41mi
1108 Cardinal Ave Metairie, LA	4.0	2.0	1903	$2,650	$1.39	44d	1	1.48mi
6801 Veterans Blvd Metairie, LA	1.0–3.0	1.0–2.0	985	$1,701	$1.73	2d	27	1.48mi

Listing history 3 events

1. 2026-05-06
   listed $139,900 Active 533-char remark

   Show marketing remark (533 chars)

   Great Location, Great neighborhood, what more can you ask for. This home features open living/dining, den and kitchen with added breakfast nook, 3 nice sized bedroom and 2 full baths all with about 1593 living area 2184 under roof. This comes, with a 1 car garage, large rear yard, and an extra bonus Solar Panels. Just waiting for your creative ideas. So, roll up your sleeves and turn this diamond in the rough into your dream home. Get your renovation loan in order before scheduling your viewing. Call today for your appointment.

2. 2026-05-06
   listed $139,900 Active 533-char remark

   Show marketing remark (533 chars)

   Great Location, Great neighborhood, what more can you ask for. This home features open living/dining, den and kitchen with added breakfast nook, 3 nice sized bedroom and 2 full baths all with about 1593 living area 2184 under roof. This comes, with a 1 car garage, large rear yard, and an extra bonus Solar Panels. Just waiting for your creative ideas. So, roll up your sleeves and turn this diamond in the rough into your dream home. Get your renovation loan in order before scheduling your viewing. Call today for your appointment.

3. 1976-06-01
   soldstatus $44,000

ⓘ 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: $2,102 · $175/mo
• Projected year-2 tax: $2,102 · $175/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: $23,638
• − Mortgage interest: −$7,837
• − Property taxes: −$2,102
• − Insurance: −$1,497
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − Depreciation: −$4,070
• Taxable income: $4,351
• Est. tax owed @ 24.0%: −$1,044
• After-tax cash flow: $5,228/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): 17,771
• Household income: $51,477
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 1082.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 37% Black 29% White 27% Two or more races 17% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 6% Cuban 2% Dominican 2%
• Common ancestry: Lithuanian 5%
• Foreign-born: 22% · Canada
• Languages at home: 66% English-only · Spanish 32% Other Indo-European 2%

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: ▼ -108.55%
• Current HPI: 105.3411
• Rent YoY: —
• 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

+218.0% since first listed

5 events — show timeline

• 2026-05-22 Pending — AcadianaMLS
• 2026-05-22 Pending — GSREIN
• 2026-05-06 Listed $139,900 GSREIN
• 2026-05-06 Listed $139,900 AcadianaMLS
• 1976-06-01 Sold (Public Records) $44,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $2,102 · +5.2% YoY. Source: county tax records.