3805-07 Canterbury Ln · Metairie, LA 70001

$349,000

None bd · None ba · 3,600 sqft · MultiFamily · 39 Days on market

Good condition 5,530 sqft lot $97/sqft · 9% below area Est $382k · 9% under

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Why this score? — see what drove the C+ 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 +22.6/30.0
• ARV discount +11.3/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Livability +4.4/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Income producing brick townhouse double located in Metairie just off of Causeway! Each side has 3 bds., 2 1/2 baths, with inside laundry and off street parking. New roof - September 2021. All bedrooms are upstairs and master has private bath. Great for owner-occupancy with income or good income for investor. Washer and dryer hookups. Owner will not provide washer or dryer. Both sides are ready for new owner or tenants. Property is presently vacant. Property is vacant. Some of other units in the area have been rented for $1725.

Key facts

• Off street parking
• Private bath
• Brick townhouse

Tags

• BRICK TOWNHOUSE
• NEW ROOF
• INSIDE LAUNDRY
• OFF STREET PARKING
• PRIVATE BATH
• WASHER AND DRYER HOOKUPS

What this means for you Summary

Snapshot

• This is a multifamily listed at $349k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $349k).
• Recommended offer: $339k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: Rents soft (-0.0%/yr); 208 active listings in the ZIP; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• At $3,804/mo this rent would consume 67% 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 39 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask is 20429% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $338,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% 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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.29%
• DSCR: 1.32
• GRM: 7.6

CMA / ARV

• ARV (median comp): $381,512
• List price: $349,000
• Delta: -8.52%
• 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
2104-06 Caswell Ln	0.06mi	—/—	3,600 (0%)	5mo	$340,000	$94	93
3812-14 Canterbury Ln	0.03mi	—/—	3,600 (0%)	7mo	$337,000	$94	93
2200-02 Caswell Ln	0.05mi	—/—	3,600 (0%)	7mo	$317,000	$88	92
2200-02 Division St	0.08mi	—/—	3,600 (0%)	7mo	$340,000	$94	90
2508 10 Caswell Ln	0.20mi	6/5.0	3,600 (0%)	2mo	$339,000	$94	89
2508-10 Caswell Ln	0.20mi	—/—	3,600 (0%)	2mo	$339,000	$94	89
3729 31 Lilac Ln	0.18mi	6/5.0	3,532 (-2%)	12mo	$365,000	$103	79
3713-15 N I-10 Service Rd	0.29mi	6/5.0	3,552 (-1%)	8mo	$350,000	$99	77
2804 06 Lexington Dr	0.34mi	6/5.0	3,456 (-4%)	3mo	$305,000	$88	75
3725 27 Lilac Ln	0.18mi	6/5.0	3,820 (+6%)	12mo	$387,850	$102	72
3720 22 S I10 Service Rd	0.21mi	6/5.0	3,232 (-10%)	7mo	$335,000	$104	67
2328 Giuffrias Ave	0.59mi	8/4.0	3,900 (+8%)	8mo	$340,000	$87	52

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: -17.0%
• Equity multiple: 0.42×
• Total profit: $-56,761
• Equity at exit: $52,037

10-year hold

• IRR: -17.1%
• Equity multiple: 0.21×
• Total profit: $-77,535
• Equity at exit: $30,175

Cash invested: $97,720 (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: 208
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $3,804 high
• Mortgage (P&I): −$1,830
• Tax est. 1.5%: −$436 /mo · $5,235/yr
• Insurance: −$145
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$799
• Net cashflow: $167

Break-even live

Break-even rent $3,593

Max offer price $349,000

Occupancy floor 91%

Sensitivity live

Price	-10% $408	-5% $287	+0% $167	+5% $46	+10% $-74
Rent	-10% $-134	-5% $16	+0% $167	+5% $317	+10% $467
Rate	-1.0pp $343	-0.5pp $256	base $167	+0.5pp $76	+1.0pp $-16

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,804
Total (2 units)			$3,804

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-14
   status Pending 532-char remark

   Show marketing remark (532 chars)

   Income producing brick townhouse double located in Metairie just off of Causeway! Each side has 3 bds., 2 1/2 baths, with inside laundry and off street parking. New roof - September 2021. All bedrooms are upstairs and master has private bath. Great for owner-occupancy with income or good income for investor. Washer and dryer hookups. Owner will not provide washer or dryer. Both sides are ready for new owner or tenants. Property is presently vacant. Property is vacant. Some of other units in the area have been rented for $1725.

2. 2026-04-15
   listed $1,700
3. 2026-04-15
   historical $1,725
4. 2026-04-11
   status Active 532-char remark

   Show marketing remark (532 chars)

   Income producing brick townhouse double located in Metairie just off of Causeway! Each side has 3 bds., 2 1/2 baths, with inside laundry and off street parking. New roof - September 2021. All bedrooms are upstairs and master has private bath. Great for owner-occupancy with income or good income for investor. Washer and dryer hookups. Owner will not provide washer or dryer. Both sides are ready for new owner or tenants. Property is presently vacant. Property is vacant. Some of other units in the area have been rented for $1725.

5. 2026-03-26
   status Pending 532-char remark

   Show marketing remark (532 chars)

   Income producing brick townhouse double located in Metairie just off of Causeway! Each side has 3 bds., 2 1/2 baths, with inside laundry and off street parking. New roof - September 2021. All bedrooms are upstairs and master has private bath. Great for owner-occupancy with income or good income for investor. Washer and dryer hookups. Owner will not provide washer or dryer. Both sides are ready for new owner or tenants. Property is presently vacant. Property is vacant. Some of other units in the area have been rented for $1725.

6. 2026-03-20
   listed $349,000 Active 532-char remark

   Show marketing remark (532 chars)

   Income producing brick townhouse double located in Metairie just off of Causeway! Each side has 3 bds., 2 1/2 baths, with inside laundry and off street parking. New roof - September 2021. All bedrooms are upstairs and master has private bath. Great for owner-occupancy with income or good income for investor. Washer and dryer hookups. Owner will not provide washer or dryer. Both sides are ready for new owner or tenants. Property is presently vacant. Property is vacant. Some of other units in the area have been rented for $1725.

7. 2026-01-23
   listed $1,725
8. 2026-01-14
   listed $359,000 Active
9. 2025-01-28
   historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 75% 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: $45,648
• − Mortgage interest: −$19,549
• − Property taxes: −$5,235
• − Insurance: −$6,864
• − Repairs & maintenance: −$3,652
• − Management: −$3,652
• − Depreciation: −$10,153
• Taxable loss: −$3,456
• Est. tax savings @ 24.0%: +$830
• After-tax cash flow: $2,831/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with a new roof and hardwood floors. It is ready for new tenants or owner-occupancy with minor maintenance required.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and property value.
• Both Replace HVAC filter — Improves air quality and energy efficiency.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and property value. ↑
• Both Replace HVAC filter — Improves air quality and energy efficiency. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-99.5% since first listed

9 events — show timeline

• 2026-05-14 Pending — AcadianaMLS
• 2026-04-15 Listed for Rent $1,700 RAAMLS
• 2026-04-15 Rental Removed $1,725 GSREIN
• 2026-04-11 Relisted — AcadianaMLS
• 2026-03-26 Pending — AcadianaMLS
• 2026-03-20 Listed $349,000 AcadianaMLS
• 2026-01-23 Listed for Rent $1,725 GSREIN
• 2026-01-14 Listed $359,000 AcadianaMLS
• 2025-01-28 Rental Removed — RENTEC