3408 Shannon Dr · Violet, LA 70092

$65,000

3 bd · 2.0 ba · 1,598 sqft · SingleFamily · 82 Days on market

Built 1980 5,100 sqft lot $41/sqft · 62% below area ↓ 6% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.8/10.0

Listing remarks MLS

Dimensions not available. Buyer to verify. 3-bedroom, 2-bath home located in Angelique Estates offering approximately 1,598 living sq ft on a 50 x 102 lot. Property is situated in a residential area of Violet with convenient access to local amenities and major roadways. Property sold as-is. Buyer to verify all measurements, zoning, utilities, flood zone, and intended use.

Key facts

• 5,100 sq ft lot
• Parking
• Built 1980

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $863 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.5% vs local median 7.5% in Violet — 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 59/100 on livability (#269 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Market conditions: 54 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 112 units permitted in St. Bernard Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• St. Bernard County population projected at +89% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 30y 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 $5k; list at $65k implies a 1092% 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 $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.72% ✓
• Cap rate: 23.45%
• Cash-on-cash: 61.29%
• DSCR: 3.73
• GRM: 3.1

CMA / ARV

• ARV (median comp): $172,405
• List price: $65,000
• Delta: -62.30%
• 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
3309 Lakewood Dr	0.54mi	3/2.0	1,631 (+2%)	1mo	$222,750	$137	71
2900 Oak Dr	0.56mi	3/2.0	1,600 (+0%)	6mo	$250,000	$156	68
3405 Acorn Dr	0.37mi	3/3.0	1,575 (-1%)	10mo	$50,000	$32	68
3012 Oak Dr	0.50mi	3/2.0	1,505 (-6%)	1mo	$199,000	$132	66
3108 Oak Dr	0.47mi	3/2.0	1,513 (-5%)	12mo	$168,000	$111	59
2417 Edgar Dr	0.62mi	3/2.0	1,450 (-9%)	9mo	$237,000	$163	48
2817 Meadow Dr	0.68mi	3/2.0	1,406 (-12%)	1mo	$240,000	$171	48
2900 Meadow Dr	0.70mi	3/2.0	1,694 (+6%)	12mo	$225,000	$133	47
3421 Moss Ln	0.47mi	3/2.5	1,442 (-10%)	17mo	$199,000	$138	45
3500 Meraux Ln	0.54mi	3/2.0	1,769 (+11%)	18mo	$80,000	$45	42
3200 Oak Dr	0.44mi	4/2.5 (+1)	1,800 (+13%)	13mo	$225,000	$125	41
2901 Lakewood Dr	0.70mi	3/2.5	1,372 (-14%)	14mo	$187,000	$136	30

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: 55.4%
• Equity multiple: 3.45×
• Total profit: $44,518
• Equity at exit: $9,692

10-year hold

• IRR: 60.4%
• Equity multiple: 7.04×
• Total profit: $109,868
• Equity at exit: $5,620

Cash invested: $18,200 (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 70092

• Home prices YoY: -3.7%
• Active inventory: 54
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,766 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$98 /mo · $1,173/yr
• Insurance: −$27
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $863

Break-even live

Break-even rent $674

Max offer price $65,000

Occupancy floor 46%

Sensitivity live

Price	-10% $900	-5% $882	+0% $863	+5% $845	+10% $826
Rent	-10% $724	-5% $793	+0% $863	+5% $933	+10% $1,003
Rate	-1.0pp $896	-0.5pp $880	base $863	+0.5pp $846	+1.0pp $829

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2408 Francis St Violet, LA	2.0	2.0	1350	$1,650	$1.22	45d	1	0.88mi
10002 Claiborne St Violet, LA	3.0	2.0	1568	$1,875	$1.20	45d	1	0.96mi

Listing history 24 events

1. 2026-06-21
   days on market $65,000 Active 82 DOM
2. 2026-06-18
   days on market $65,000 Active 79 DOM
3. 2026-06-17
   days on market $65,000 Active 78 DOM
4. 2026-06-16
   days on market $65,000 Active 77 DOM
5. 2026-06-15
   days on market $65,000 Active 76 DOM
6. 2026-06-13
   days on market $65,000 Active 74 DOM
7. 2026-06-10
   days on market $65,000 Active 71 DOM
8. 2026-06-09
   days on market $65,000 Active 70 DOM
9. 2026-06-08
   days on market $65,000 Active 69 DOM
10. 2026-06-07
    days on market $65,000 Active 68 DOM
11. 2026-06-03
    days on market $65,000 Active 64 DOM
12. 2026-06-02
    days on market $65,000 Active 63 DOM
13. 2026-06-01
    days on market $65,000 Active 62 DOM
14. 2026-05-31
    days on market $65,000 Active 61 DOM
15. 2026-03-31
    listed $65,000 Active 374-char remark

    Show marketing remark (374 chars)

    Dimensions not available. Buyer to verify. 3-bedroom, 2-bath home located in Angelique Estates offering approximately 1,598 living sq ft on a 50 x 102 lot. Property is situated in a residential area of Violet with convenient access to local amenities and major roadways. Property sold as-is. Buyer to verify all measurements, zoning, utilities, flood zone, and intended use.

16. 2026-03-31
    listed $65,000 Active 374-char remark

    Show marketing remark (374 chars)

    Dimensions not available. Buyer to verify. 3-bedroom, 2-bath home located in Angelique Estates offering approximately 1,598 living sq ft on a 50 x 102 lot. Property is situated in a residential area of Violet with convenient access to local amenities and major roadways. Property sold as-is. Buyer to verify all measurements, zoning, utilities, flood zone, and intended use.

17. 2017-11-27
    soldstatus $5,452
18. 2000-08-11
    soldstatus $56,500
19. 2000-08-09
    soldstatus $56,500
20. 2000-05-18
    listed $61,000
21. 2000-05-18
    listed $61,000
22. 1996-09-30
    soldstatus $68,000
23. 1996-07-05
    listed $69,500
24. 1996-07-05
    listed $69,500

ⓘ 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: $1,173 · $98/mo
• Projected year-2 tax: $1,173 · $98/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 (shaded) · 60% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,194
• − Mortgage interest: −$3,641
• − Property taxes: −$1,173
• − Insurance: −$1,122
• − Repairs & maintenance: −$1,696
• − Management: −$1,696
• − Depreciation: −$1,891
• Taxable income: $9,976
• Est. tax owed @ 24.0%: −$2,394
• After-tax cash flow: $7,963/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)

No district data.

Livability — Violet

• Score: 59/100
• State rank: #269
• US rank: #19722

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Violet, LA
• City population: 6,784
• Population (ZIP): 6,784

Population outlook (St. Bernard County) Hauer SSP2

• Today (2025): 66,513 people
• By 2030: 77,768 · +16.9%
• By 2040: 101,296 · +52.3%
• By 2050: 125,770 · +89.1%
• By 2075: 188,160 · +182.9%
• By 2100: 239,339 · +259.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 46% Black 43% Hispanic / Latino 9% Two or more races 6% Native American 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 11% Iranian 1% Hispanic 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · St. Bernard

• 2024 margin: Strong R (+29.3) · D 34.5% · R 63.8% · Other 1.7%
• 2008→2024 swing: +16.1pp toward D · 2008: -45.4pp · 2024: -29.3pp
• All cycles: 2024: R+29.3 2020: R+28.5 2016: R+33.4 2012: R+24.7 2008: R+45.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.36%
• Current HPI: 218.6728
• Rent YoY: —
• Metro: —
• 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

-6.5% since first listed

10 events — show timeline

• 2026-03-31 Listed $65,000 GSREIN
• 2026-03-31 Listed $65,000 AcadianaMLS
• 2017-11-27 Sold (Public Records) $5,452 Public Records
• 2000-08-11 Sold (Public Records) $56,500 Public Records
• 2000-08-09 Sold (MLS) $56,500 GSREIN
• 2000-05-18 Listed $61,000 GSREIN
• 2000-05-18 Listed $61,000 AcadianaMLS
• 1996-09-30 Sold (MLS) $68,000 GSREIN
• 1996-07-05 Listed $69,500 GSREIN
• 1996-07-05 Listed $69,500 AcadianaMLS

Property tax history

+17.9%/yr

Latest (2025): $1,173 · -0.7% YoY. Source: county tax records.