457-59 Greenmount Dr · Metairie, LA 70005

$325,000

None bd · None ba · 1,906 sqft · MultiFamily · 183 Days on market

Good condition $171/sqft · 14% below area Est $379k · 14% 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 +24.1/30.0
• ARV discount +13.9/15.0
• DSCR +7.8/10.0
• 1% rule +6.2/10.0
• Livability +4.4/5.0
• Condition / age +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity in Old Metairie! Established long term tenants means instant cashflow! Excellent location on a quiet dead end street. All brick building with separate fenced yards on each side. Private laundry off the rear for each unit. Separate electric and gas meters and one shared water meter. Current tenants maintain the lawn.

Key facts

• All brick building
• Private laundry
• Listed 183 days

Tags

• QUIET DEAD END STREET
• ALL BRICK BUILDING
• SEPARATE FENCED YARDS
• PRIVATE LAUNDRY

What this means for you Summary

Snapshot

• This is a multifamily listed at $325k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Recommended offer: $286k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.8% 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); 257 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 88d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% 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).
• At $3,655/mo this rent would consume 49% of the median local household income ($89k/yr) — 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 183 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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.

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 $286,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 183 days. Have you received any prior offers? Is the seller open to a 12% 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. 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 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: 1.12% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.46%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (median comp): $378,738
• List price: $325,000
• Delta: -14.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
200-202 Pink St	0.18mi	5/2.0	1,792 (-6%)	11mo	$430,000	$240	72
504 06 Nursery Ave	0.37mi	5/4.0	1,993 (+5%)	5mo	$560,000	$281	71
343 45 Aris Ave	0.27mi	4/2.0	1,799 (-6%)	9mo	$310,000	$172	70
403 05 Papworth Ave	0.22mi	—/—	1,800 (-6%)	17mo	$355,000	$197	66
346 Carrollton Ave	0.22mi	4/2.0	1,625 (-15%)	17mo	$485,000	$298	51
5620-22 Rosemary Pl	0.71mi	—/—	2,022 (+6%)	16mo	$225,000	$111	43
5620 22 Rosemary Pl	0.71mi	4/2.0	2,022 (+6%)	16mo	$225,000	$111	43

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: -15.8%
• Equity multiple: 0.46×
• Total profit: $-49,371
• Equity at exit: $48,459

10-year hold

• IRR: -15.1%
• Equity multiple: 0.28×
• Total profit: $-65,472
• Equity at exit: $28,100

Cash invested: $91,000 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 11 active
• Months of supply: 33.0 mo (3%/mo absorbed)
• Median asking: $448,000 ($241/sqft)
• Median days on market: 73 d
• This list price: 27% of active listings are priced below it
• ARV vs active asking: -17.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70005

• Rents YoY: -0.3%
• Active inventory: 257
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $3,655 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$768
• Net cashflow: $215

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,654
Total (2 units)			$3,655

Break-even live

Break-even rent $3,383

Max offer price $325,000

Occupancy floor 89%

Sensitivity live

Price	-10% $440	-5% $327	+0% $215	+5% $103	+10% $-10
Rent	-10% $-74	-5% $71	+0% $215	+5% $359	+10% $504
Rate	-1.0pp $379	-0.5pp $298	base $215	+0.5pp $131	+1.0pp $45

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: $81,250
• Closing costs: $9,750
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
433 Greenmount Dr Unit B Metairie, LA	2.0	1.0	900	$1,950	$2.17	88d	1	0.03mi
433 Greenmount Dr Unit B Metairie, LA	2.0	1.0	900	$2,400	$2.67	110d	1	0.03mi
433 Greenmount Dr Unit A Metairie, LA	2.0	1.0	1000	$2,500	$2.50	110d	1	0.03mi
501 Lake Ave Unit 16 Metairie, LA	2.0	1.0	800	$1,535	$1.92	67d	1	0.10mi
501 Lake Ave Unit 18 Metairie, LA	1.0	1.0	515	$1,465	$2.84	88d	1	0.10mi
501 Lake Ave Unit 7 Metairie, LA	1.0	1.0	506	$1,265	$2.50	5d	1	0.10mi
505 Lake Ave Unit 11 Metairie, LA	2.0	1.0	900	$1,665	$1.85	139d	1	0.12mi
505 Lake Ave Unit 3 Metairie, LA	1.0	1.0	585	$1,465	$2.50	100d	1	0.12mi
460 Carrollton Ave Metairie, LA	2.0	2.0	1100	$2,000	$1.82	67d	1	0.12mi
208 Pink St Metairie, LA	2.0	1.0	758	$1,200	$1.58	80d	1	0.15mi
302 Papworth Ave Apt 1 Metairie, LA	1.0	1.0	410	$950	$2.32	10d	1	0.16mi
313 Pink St Metairie, LA	2.0	1.0	1100	$1,750	$1.59	4d	1	0.17mi
105 Locust St Metairie, LA	3.0	2.0	1654	$2,500	$1.51	63d	1	0.18mi
348 Carrollton Ave Metairie, LA	2.0	1.0	900	$2,100	$2.33	10d	1	0.19mi
306 Nursery Ave Metairie, LA	2.0	1.0	1000	$2,500	$2.50	139d	1	0.21mi
230 Nursery Ave Metairie, LA	2.0	1.0	975	$2,000	$2.05	139d	1	0.22mi
216 Nursery Ave Metairie, LA	2.0	1.5	1100	$1,800	$1.64	99d	1	0.22mi
216 Nursery Ave Metairie, LA	2.0	1.5	1100	$1,800	$1.64	98d	1	0.22mi
100 Papworth Ave Metairie, LA	1.0	1.0	500	$1,500	$3.00	88d	1	0.25mi
132 Nursery Ave Metairie, LA	1.0	1.0	564	$1,500	$2.66	139d	1	0.25mi
128 Nursery Ave Metairie, LA	1.0	1.0	534	$1,500	$2.81	82d	1	0.25mi
107 Nursery Ave Unit 1/2 Metairie, LA	2.0	1.5	1100	$2,000	$1.82	10d	1	0.26mi
343 Aris Ave Metairie, LA	2.0	1.0	900	$1,200	$1.33	139d	1	0.27mi
423 Canal St Metairie, LA	2.0	1.0	1000	$1,500	$1.50	88d	1	0.28mi
545 Carrollton Ave Metairie, LA	2.0	1.0	850	$1,800	$2.12	4d	1	0.28mi
377 Aris Ave Unit A Metairie, LA	2.0	1.0	806	$1,400	$1.74	74d	1	0.30mi
251 Focis St Metairie, LA	2.0	1.5	1200	$2,000	$1.67	10d	1	0.30mi
251 Focis St Metairie, LA	2.0	1.5	1200	$2,000	$1.67	78d	1	0.30mi
381 Aris Ave Metairie, LA	2.0	1.0	911	$1,295	$1.42	7d	1	0.31mi
619 Pink St Metairie, LA	2.0	1.0	1075	$2,000	$1.86	139d	1	0.32mi
431 Nursery Ave Metairie, LA	2.0	1.0	790	$1,350	$1.71	10d	1	0.33mi
422-424 Nursery Ave Metairie, LA	2.0	1.0	1030	$2,050	$1.99	100d	1	0.33mi
614 Metairie Rd Apt 3 Metairie, LA	1.0	1.0	500	$1,400	$2.80	80d	1	0.38mi
614 Metairie Rd Apt 8 Metairie, LA	1.0	1.0	500	$1,400	$2.80	10d	1	0.38mi
402 Aris Ave Metairie, LA	2.0	1.0	800	$1,800	$2.25	10d	1	0.38mi
614 Metairie Rd Unit 12 Metairie, LA	1.0	1.0	500	$1,400	$2.80	139d	1	0.38mi
614 Metairie Rd Unit 12 Metairie, LA	1.0	1.0	500	$1,400	$2.80	88d	1	0.38mi
506 Nursery Ave Metairie, LA	2.0	1.0	725	$1,500	$2.07	100d	1	0.39mi
504 Nursery Ave Metairie, LA	3.0	2.0	1267	$2,500	$1.97	110d	1	0.39mi
801 Rue Dauphine #103 Metairie, LA	1.0	1.0	914	$2,400	$2.63	10d	1	0.40mi

Listing history 50 events

1. 2026-09-23
   days on market $325,000 Active 183 DOM
2. 2026-09-22
   days on market $325,000 Active 182 DOM
3. 2026-09-21
   days on market $325,000 Active 181 DOM
4. 2026-09-20
   days on market $325,000 Active 180 DOM
5. 2026-09-19
   days on market $325,000 Active 179 DOM
6. 2026-09-17
   days on market $325,000 Active 177 DOM
7. 2026-09-16
   days on market $325,000 Active 176 DOM
8. 2026-09-15
   days on market $325,000 Active 175 DOM
9. 2026-09-14
   days on market $325,000 Active 174 DOM
10. 2026-09-13
    days on market $325,000 Active 173 DOM
11. 2026-09-12
    days on market $325,000 Active 172 DOM
12. 2026-09-11
    days on market $325,000 Active 171 DOM
13. 2026-09-05
    days on market $325,000 Active 165 DOM
14. 2026-09-04
    days on market $325,000 Active 164 DOM
15. 2026-09-03
    days on market $325,000 Active 163 DOM
16. 2026-08-31
    days on market $325,000 Active 160 DOM
17. 2026-08-29
    days on market $325,000 Active 158 DOM
18. 2026-08-28
    days on market $325,000 Active 157 DOM
19. 2026-08-27
    days on market $325,000 Active 156 DOM
20. 2026-08-26
    days on market $325,000 Active 155 DOM
21. 2026-08-25
    days on market $325,000 Active 154 DOM
22. 2026-08-24
    days on market $325,000 Active 153 DOM
23. 2026-08-23
    days on market $325,000 Active 152 DOM
24. 2026-08-22
    days on market $325,000 Active 151 DOM
25. 2026-08-21
    days on market $325,000 Active 150 DOM
26. 2026-08-20
    days on market $325,000 Active 149 DOM
27. 2026-08-19
    days on market $325,000 Active 148 DOM
28. 2026-08-18
    days on market $325,000 Active 147 DOM
29. 2026-08-17
    days on market $325,000 Active 146 DOM
30. 2026-08-16
    days on market $325,000 Active 145 DOM
31. 2026-08-15
    days on market $325,000 Active 144 DOM
32. 2026-08-14
    days on market $325,000 Active 143 DOM
33. 2026-08-12
    days on market $325,000 Active 141 DOM
34. 2026-08-11
    days on market $325,000 Active 140 DOM
35. 2026-08-10
    days on market $325,000 Active 139 DOM
36. 2026-08-09
    days on market $325,000 Active 138 DOM
37. 2026-08-08
    days on market $325,000 Active 137 DOM
38. 2026-08-07
    days on market $325,000 Active 136 DOM
39. 2026-08-06
    days on market $325,000 Active 135 DOM
40. 2026-08-05
    days on market $325,000 Active 134 DOM
41. 2026-08-04
    days on market $325,000 Active 133 DOM
42. 2026-08-03
    days on market $325,000 Active 132 DOM
43. 2026-07-31
    days on market $325,000 Active 129 DOM
44. 2026-07-30
    days on market $325,000 Active 127 DOM
45. 2026-07-28
    days on market $325,000 Active 126 DOM
46. 2026-07-24
    days on market $325,000 Active 122 DOM
47. 2026-07-23
    days on market $325,000 Active 121 DOM
48. 2026-07-22
    days on market $325,000 Active 120 DOM
49. 2026-07-21
    days on market $325,000 Active 119 DOM
50. 2026-07-20
    days on market $325,000 Active 118 DOM

ⓘ 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 · 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: $43,860
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$6,744
• − Repairs & maintenance: −$3,509
• − Management: −$3,509
• − Depreciation: −$9,455
• Taxable loss: −$2,436
• Est. tax savings @ 24.0%: +$585
• After-tax cash flow: $3,163/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 Est. rehab $9,530–$28,590 screening

This home is in good condition with cosmetic updates needed to enhance curb appeal and add value. It's an excellent investment opportunity in Old Metairie with established tenants and a quiet location.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Trim and mulch landscaping — Improves curb appeal and adds value ↑
• Both Clean gutters — Keeps home in good condition and adds value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 32/100

Zoned Schools

Elementary Marie B. Riviere Elementary School F LA #297/646 Nat'l #24,614/41,679 Middle J.d. Meisler Middle School F LA #161/218 Nat'l #11,564/14,009 High Riverdale High School F LA #62/265 Nat'l #7,320/17,239

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

A Composite livability gradescore 87/100

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 · 451,696 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: 5% of renters

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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%

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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%

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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

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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

+48.4% since first listed

6 events — show timeline

• 2026-03-24 Listed $325,000 AcadianaMLS
• 2023-11-18 Listed $335,000 AcadianaMLS
• 2023-11-14 Listed $335,000 AcadianaMLS
• 2023-09-09 Rental Removed $1,500 Avail
• 2023-08-18 Listed for Rent $1,500 Avail
• 2022-08-16 Listed $219,000 AcadianaMLS