3417 Shangri La Dr · Chalmette, LA 70043

$209,500

4 bd · 2.0 ba · 1,920 sqft · MultiFamily · 445 Days on market

Built 1985 4,791 sqft lot $109/sqft · 6% below area Est $223k · 6% 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 +21.2/30.0
• ARV discount +10.1/15.0
• DSCR +6.7/10.0
• Schools +5.0/10.0
• 1% rule +4.8/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

These are long-time tenants, and the owner doesn't want to raise rents. But they are rented well below market.

Key facts

• 4,791 sq ft lot
• Parking
• Built 1985

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $210k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (2.5% below list).
• Recommended offer: $184k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 5.5% in Chalmette — 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 65/100 on livability (#137 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime F, amenities F, commute F.
• Market conditions: Rents rising (+3.1%/yr); 209 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 112 units permitted in St. Bernard Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 45% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 445 days — a 12% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 29y ago; this cycle's ask has dropped $13k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $210k implies a 179% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 445 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. 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 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: 0.98% ✗
• Cap rate: 8.02%
• Cash-on-cash: 6.18%
• DSCR: 1.27
• GRM: 8.5

CMA / ARV

• ARV (median comp): $222,564
• List price: $209,500
• Delta: -5.87%
• 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
74-76 Phillip Ct	0.12mi	4/2.0	1,920 (0%)	2mo	$240,000	$125	93
8512 14 Valor Dr	0.41mi	4/2.0	1,933 (+1%)	11mo	$250,000	$129	71
3521 23 Kings Dr	0.35mi	5/4.0 (+1)	1,996 (+4%)	3mo	$354,000	$177	62
4017-19 Jupiter Dr	0.43mi	4/2.0	1,804 (-6%)	11mo	$207,000	$115	60
9109 Atreus St	0.47mi	4/3.5	1,980 (+3%)	9mo	$170,000	$86	60
2724 26 Pakenham Dr	0.51mi	5/3.0 (+1)	1,966 (+2%)	8mo	$249,000	$127	57
3817 19 Juno Dr	0.28mi	4/2.0	1,700 (-12%)	14mo	$255,000	$150	56
125 27 W Philip Ct	0.16mi	5/3.0 (+1)	2,100 (+9%)	16mo	$259,000	$123	55
4005-07 Jupiter Dr	0.41mi	5/2.5 (+1)	2,048 (+7%)	11mo	$230,000	$112	53
9025-27 Atreus St	0.47mi	4/4.0	2,000 (+4%)	14mo	$196,000	$98	52
9029 31 Oz Dr	0.05mi	5/3.0 (+1)	2,196 (+14%)	17mo	$272,400	$124	51
9101-9103 Atreus St	0.47mi	4/4.0	1,700 (-12%)	11mo	$243,500	$143	42

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 · 3.11% rent growth · sell at horizon

5-year hold

• IRR: -8.7%
• Equity multiple: 0.68×
• Total profit: $-18,724
• Equity at exit: $31,237

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $3,904
• Equity at exit: $18,114

Cash invested: $58,660 (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 70043

• Rents YoY: 3.1%
• Active inventory: 209
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,043 high
• Mortgage (P&I): −$1,099
• Tax from tax record: −$126 /mo · $1,510/yr
• Insurance: −$87
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $236

Break-even live

Break-even rent $1,745

Max offer price $209,500

Occupancy floor 83%

Sensitivity live

Price	-10% $354	-5% $295	+0% $236	+5% $176	+10% $117
Rent	-10% $74	-5% $155	+0% $236	+5% $316	+10% $397
Rate	-1.0pp $341	-0.5pp $289	base $236	+0.5pp $181	+1.0pp $126

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: $52,375
• Closing costs: $6,285
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3606 Pakenham Dr Unit 3606 Chalmette, LA	3.0	2.0	1400	$1,800	$1.29	12d	1	0.18mi
8600 Patricia St Chalmette, LA	3.0	2.0	1255	$1,550	$1.24	24d	1	0.27mi
3400 Montesquieu St Unit 1-B Chalmette, LA	3.0	2.5	1372	$2,550	$1.86	2d	1	0.48mi
2707 Jackson Blvd Chalmette, LA	3.0	3.0	1733	$2,300	$1.33	44d	1	0.53mi
2707 Jackson Blvd Chalmette, LA	3.0	2.5	1733	$2,300	$1.33	24d	1	0.53mi
8413 Benjamin Dr Chalmette, LA	3.0	2.0	1800	$2,300	$1.28	3d	1	0.67mi
3108 Tournefort St Chalmette, LA	3.0	2.0	1399	$1,750	$1.25	3d	1	0.75mi
3711 Tournefort St Chalmette, LA	3.0	2.0	1250	$1,850	$1.48	3d	1	0.79mi
32 Old Hickory St Chalmette, LA	4.0	2.0	1379	$1,850	$1.34	24d	1	0.80mi
3108 Laplace St Chalmette, LA	3.0	2.5	1390	$1,650	$1.19	44d	1	0.81mi
3106 Laplace St Chalmette, LA	3.0	2.5	1390	$1,650	$1.19	44d	1	0.83mi
114 8th St Chalmette, LA	3.0	1.0	1275	$1,695	$1.33	44d	1	0.93mi
2518 Delambert St Chalmette, LA	3.0	2.0	1617	$1,825	$1.13	44d	1	1.06mi
3321 Plaza Dr Chalmette, LA	3.0	2.0	1400	$1,650	$1.18	11d	1	1.13mi
226 E Casa Calvo St Chalmette, LA	3.0	2.0	1330	$1,900	$1.43	44d	1	1.16mi
3708 Veronica Dr Chalmette, LA	3.0	2.0	1818	$2,550	$1.40	2d	1	1.27mi
424 Chinchilla Dr Arabi, LA	3.0	2.0	1735	$3,500	$2.02	16d	1	1.32mi
2429 Octavia Dr Chalmette, LA	3.0	2.0	1700	$1,575	$0.93	24d	1	1.37mi
309 Fawn Dr Arabi, LA	3.0	2.5	1745	$2,500	$1.43	2d	1	1.38mi
3012 Volpe Dr Chalmette, LA	3.0	2.0	1812	$2,500	$1.38	44d	1	1.47mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	3d	1	1.49mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	2d	1	1.49mi

Listing history 26 events

1. 2026-06-18
   days on market $209,500 Active 445 DOM
2. 2026-06-17
   days on market $209,500 Active 444 DOM
3. 2026-06-16
   days on market $209,500 Active 443 DOM
4. 2026-06-15
   days on market $209,500 Active 442 DOM
5. 2026-06-13
   days on market $209,500 Active 440 DOM
6. 2026-06-10
   days on market $209,500 Active 437 DOM
7. 2026-06-09
   days on market $209,500 Active 436 DOM
8. 2026-06-08
   days on market $209,500 Active 435 DOM
9. 2026-06-07
   days on market $209,500 Active 434 DOM
10. 2026-06-03
    days on market $209,500 Active 430 DOM
11. 2026-06-02
    days on market $209,500 Active 429 DOM
12. 2026-06-01
    days on market $209,500 Active 428 DOM
13. 2026-05-31
    days on market $209,500 Active 427 DOM
14. 2025-11-03
    price $209,500 110-char remark

    Show marketing remark (110 chars)

    These are long-time tenants, and the owner doesn't want to raise rents. But they are rented well below market.

15. 2025-11-03
    price $209,500 110-char remark

    Show marketing remark (110 chars)

    These are long-time tenants, and the owner doesn't want to raise rents. But they are rented well below market.

16. 2025-03-30
    listed $222,500 Active 110-char remark

    Show marketing remark (110 chars)

    These are long-time tenants, and the owner doesn't want to raise rents. But they are rented well below market.

17. 2025-03-30
    listed $222,500 Active 110-char remark

    Show marketing remark (110 chars)

    These are long-time tenants, and the owner doesn't want to raise rents. But they are rented well below market.

18. 2024-07-29
    price $222,500
19. 2024-07-01
    price $239,900
20. 2024-05-24
    price $227,000
21. 2024-05-14
    listed $222,500 Active
22. 2013-04-02
    soldstatus $75,000
23. 1997-10-23
    soldstatus $83,000
24. 1997-10-20
    soldstatus $83,900
25. 1997-04-28
    listed $83,900
26. 1997-04-28
    listed $83,900

ⓘ 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: $1,510 · $126/mo
• Projected year-2 tax: $1,510 · $126/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,514
• − Mortgage interest: −$11,735
• − Property taxes: −$1,510
• − Insurance: −$1,845
• − Repairs & maintenance: −$1,961
• − Management: −$1,961
• − Depreciation: −$6,095
• Taxable loss: −$592
• Est. tax savings @ 24.0%: +$142
• After-tax cash flow: $2,970/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 — Chalmette

• Score: 65/100
• State rank: #137
• US rank: #12500

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chalmette, LA
• County: Saint Bernard Parish · 22,638 people
• City population: 22,638
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 22,638
• Household income: $55,068
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 881.0

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 0.61)
• Race & ethnicity: White 55% Black 26% Hispanic / Latino 12% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 13% Slovak 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 8% Arabic 1% Vietnamese 1%

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: ▼ -211.77%
• Current HPI: 194.8123
• Rent YoY: ▲ 3.11%
• 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

+149.7% since first listed

13 events — show timeline

• 2025-11-03 Price Changed $209,500 AcadianaMLS
• 2025-11-03 Price Changed $209,500 GSREIN
• 2025-03-30 Listed $222,500 GSREIN
• 2025-03-30 Listed $222,500 AcadianaMLS
• 2024-07-29 Price Changed $222,500 GSREIN
• 2024-07-01 Price Changed $239,900 GSREIN
• 2024-05-24 Price Changed $227,000 GSREIN
• 2024-05-14 Listed $222,500 AcadianaMLS
• 2013-04-02 Sold (Public Records) $75,000 Public Records
• 1997-10-23 Sold (Public Records) $83,000 Public Records
• 1997-10-20 Sold (MLS) $83,900 GSREIN
• 1997-04-28 Listed $83,900 AcadianaMLS
• 1997-04-28 Listed $83,900 GSREIN

Property tax history

+1.0%/yr

Latest (2025): $1,510 · -0.7% YoY. Source: county tax records.