4813 Academy Dr · Metairie, LA 70003

$177,000

3 bd · 2.5 ba · 1,990 sqft · SingleFamily · 40 Days on market

Built 1983 5,662 sqft lot $89/sqft · 50% below area ↓ 32% 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
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Livability +4.4/5.0
• Rent growth +3.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MULTIPE OFFERS RECEIVED. THE SELLER HAS REQUESRTED HIGHEST AND BEST BY FRIDAY, MAY 08 AT NOON. NEW LOW PRICE!! Sold brick, 3 Bedroom / 2.5 Bath home located in the heart of Metairie, between West Esplanade Ave and Lake Pontchartrain. The home features a spacious floor plan, which includes a formal dining room, den and living room with fireplace. The exterior features a covered patio and rear deck. The home will need some TLC and repairs, but would be a great opportunity for either the investor or owner/occupant looking for a fixer-upper at a great value. Sold in As-Is condition. No utilities will be connected for inspections.

Key facts

• 5,662 sq ft lot
• Parking
• Built 1983

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $177k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $177k).
• Recommended offer: $172k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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 rising (+2.1%/yr); 224 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• This rent runs 37% of the median local income ($76k/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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $85k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $171,690 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 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: 1.32% ✓
• Cap rate: 11.36%
• Cash-on-cash: 18.11%
• DSCR: 1.81
• GRM: 6.3

CMA / ARV

• ARV (median comp): $354,629
• List price: $177,000
• Delta: -50.09%
• 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
4813 Academy Dr	0.00mi	3/2.5	1,990 (0%)	0mo	$186,000	$93	100
4908 Pike Dr	0.44mi	3/2.0	1,931 (-3%)	1mo	$247,500	$128	71
4712 Bissonet Dr	0.16mi	4/2.0 (+1)	2,165 (+9%)	0mo	$330,000	$152	71
4512 Wade St	0.43mi	4/2.0 (+1)	2,105 (+6%)	2mo	$263,000	$125	62
5212 Jeannette Dr	0.53mi	3/2.0	2,105 (+6%)	3mo	$380,000	$181	61
7013 Wilty St	0.62mi	4/2.0 (+1)	2,036 (+2%)	1mo	$255,000	$125	60
5221 Alexander Dr	0.56mi	3/3.5	1,893 (-5%)	3mo	$320,000	$169	59
4709 Senac Dr	0.38mi	3/2.0	1,720 (-14%)	2mo	$220,000	$128	56
4608 Janice Ave	0.68mi	3/2.0	2,080 (+4%)	3mo	$423,000	$203	56
4513 St Mary St	0.65mi	3/2.0	1,817 (-9%)	1mo	$340,000	$187	53
4917 Pike Dr	0.43mi	3/2.0	1,705 (-14%)	3mo	$395,000	$232	52
4513 St Martin St	0.61mi	3/2.0	2,254 (+13%)	0mo	$297,000	$132	47

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 · 2.15% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.80×
• Total profit: $-9,965
• Equity at exit: $26,391

10-year hold

• IRR: 3.1%
• Equity multiple: 1.21×
• Total profit: $10,598
• Equity at exit: $15,304

Cash invested: $49,560 (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 70003

• Rents YoY: 2.1%
• Active inventory: 224
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,332 high
• Mortgage (P&I): −$928
• Tax from tax record: −$92 /mo · $1,103/yr
• Insurance: −$74
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $321

Break-even live

Break-even rent $1,925

Max offer price $177,000

Occupancy floor 81%

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: $44,250
• Closing costs: $5,310
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4837 Academy Dr Metairie, LA	3.0	2.0	1834	$3,000	$1.64	24d	1	0.09mi
4908 Purdue Dr Metairie, LA	4.0	2.0	1846	$1,995	$1.08	4d	1	0.14mi
4312 Tartan Dr Metairie, LA	4.0	2.0	1500	$2,150	$1.43	24d	1	0.37mi
6301 Wilty St Metairie, LA	3.0	2.0	1340	$2,000	$1.49	3d	1	0.43mi
6508 Wilty St Metairie, LA	3.0	2.0	1300	$2,000	$1.54	24d	1	0.48mi
6501 Ithaca St Metairie, LA	3.0	2.0	2400	$2,900	$1.21	44d	1	0.58mi
4112 Henican Pl Metairie, LA	3.0	2.0	1750	$2,000	$1.14	24d	1	0.65mi
4409 Saint Martin St Metairie, LA	3.0	2.0	1576	$2,100	$1.33	44d	1	0.68mi
7116 Wilty St Metairie, LA	3.0	2.0	1722	$2,300	$1.34	4d	1	0.69mi
6217 Leslie St Metairie, LA	3.0	1.0	1300	$1,800	$1.38	44d	1	0.79mi
3600 Lake Trail Dr Kenner, LA	4.0	2.5	2600	$2,800	$1.08	4d	1	0.80mi
4416 Barnett St Unit B Metairie, LA	3.0	3.5	1700	$2,000	$1.18	21d	1	0.81mi
4404 Barnett St Unit C Metairie, LA	3.0	3.5	1700	$2,100	$1.24	24d	1	0.82mi
2 Schill Ave Kenner, LA	4.0	2.0	2026	$2,500	$1.23	4d	1	0.83mi
5104 W Esplanade Ave Metairie, LA	3.0	2.0	1455	$1,675	$1.15	44d	1	0.83mi
3908 Page Dr Metairie, LA	3.0	1.5	1470	$1,850	$1.26	44d	1	0.85mi
3224 Massachusetts Ave Kenner, LA	4.0	2.0	2070	$2,750	$1.33	2d	1	0.94mi
13 Emile Ave Kenner, LA	3.0	3.0	2100	$2,300	$1.10	24d	1	0.97mi
4401 Sonfield St Unit D Metairie, LA	3.0	3.0	1300	$1,500	$1.15	44d	1	1.11mi
4401 Sonfield St Unit C Metairie, LA	4.0	3.0	1300	$1,800	$1.38	44d	1	1.11mi
4422 Lake Vista Dr Metairie, LA	2.0	2.5	2500	$2,900	$1.16	24d	1	1.12mi
6801 Veterans Blvd Metairie, LA	1.0–3.0	1.0–2.0	985	$1,701	$1.73	2d	27	1.16mi
61 Emile Ave Kenner, LA	3.0	2.0	1450	$1,900	$1.31	44d	1	1.25mi
5029 Loveland St Metairie, LA	3.0	2.0	2100	$2,500	$1.19	4d	1	1.27mi
53 Antigua Dr Unit D Kenner, LA	2.0	1.5	1325	$1,500	$1.13	24d	1	1.32mi
4401 Laudun St Metairie, LA	4.0	2.5	2077	$2,500	$1.20	4d	1	1.33mi
3245 Iowa Ave Kenner, LA	4.0	2.0	1800	$2,300	$1.28	21d	1	1.34mi
3816 Lemon St Metairie, LA	3.0	2.0	2200	$2,500	$1.14	24d	1	1.36mi
3101 Kansas Ave Kenner, LA	3.0	2.0	1500	$2,000	$1.33	14d	1	1.39mi
4400 Lefkoe St Metairie, LA	3.0	2.0	1822	$2,200	$1.21	14d	1	1.42mi
4318 Lime St Metairie, LA	3.0	2.5	1766	$1,700	$0.96	24d	1	1.44mi

Listing history 9 events

1. 2026-05-11
   status Pending 633-char remark

   Show marketing remark (634 chars)

   MULTIPE OFFERS RECEIVED. THE SELLER HAS REQUESRTED HIGHEST AND BEST BY FRIDAY, MAY 08 AT NOON. NEW LOW PRICE!! Sold brick, 3 Bedroom / 2.5 Bath home located in the heart of Metairie, between West Esplanade Ave and Lake Pontchartrain. The home features a spacious floor plan, which includes a formal dining room, den and living room with fireplace. The exterior features a covered patio and rear deck. The home will need some TLC and repairs, but would be a great opportunity for either the investor or owner/occupant looking for a fixer-upper at a great value. Sold in As-Is condition. No utilities will be connected for inspections.

2. 2026-05-11
   status Pending 634-char remark

   Show marketing remark (634 chars)

   MULTIPE OFFERS RECEIVED. THE SELLER HAS REQUESRTED HIGHEST AND BEST BY FRIDAY, MAY 08 AT NOON. NEW LOW PRICE!! Sold brick, 3 Bedroom / 2.5 Bath home located in the heart of Metairie, between West Esplanade Ave and Lake Pontchartrain. The home features a spacious floor plan, which includes a formal dining room, den and living room with fireplace. The exterior features a covered patio and rear deck. The home will need some TLC and repairs, but would be a great opportunity for either the investor or owner/occupant looking for a fixer-upper at a great value. Sold in As-Is condition. No utilities will be connected for inspections.

3. 2026-05-06
   price $177,000 633-char remark

   Show marketing remark (634 chars)

   MULTIPE OFFERS RECEIVED. THE SELLER HAS REQUESRTED HIGHEST AND BEST BY FRIDAY, MAY 08 AT NOON. NEW LOW PRICE!! Sold brick, 3 Bedroom / 2.5 Bath home located in the heart of Metairie, between West Esplanade Ave and Lake Pontchartrain. The home features a spacious floor plan, which includes a formal dining room, den and living room with fireplace. The exterior features a covered patio and rear deck. The home will need some TLC and repairs, but would be a great opportunity for either the investor or owner/occupant looking for a fixer-upper at a great value. Sold in As-Is condition. No utilities will be connected for inspections.

4. 2026-05-06
   price $177,000 634-char remark

   Show marketing remark (634 chars)

   MULTIPE OFFERS RECEIVED. THE SELLER HAS REQUESRTED HIGHEST AND BEST BY FRIDAY, MAY 08 AT NOON. NEW LOW PRICE!! Sold brick, 3 Bedroom / 2.5 Bath home located in the heart of Metairie, between West Esplanade Ave and Lake Pontchartrain. The home features a spacious floor plan, which includes a formal dining room, den and living room with fireplace. The exterior features a covered patio and rear deck. The home will need some TLC and repairs, but would be a great opportunity for either the investor or owner/occupant looking for a fixer-upper at a great value. Sold in As-Is condition. No utilities will be connected for inspections.

5. 2026-05-01
   price $248,900 633-char remark

   Show marketing remark (634 chars)

   MULTIPE OFFERS RECEIVED. THE SELLER HAS REQUESRTED HIGHEST AND BEST BY FRIDAY, MAY 08 AT NOON. NEW LOW PRICE!! Sold brick, 3 Bedroom / 2.5 Bath home located in the heart of Metairie, between West Esplanade Ave and Lake Pontchartrain. The home features a spacious floor plan, which includes a formal dining room, den and living room with fireplace. The exterior features a covered patio and rear deck. The home will need some TLC and repairs, but would be a great opportunity for either the investor or owner/occupant looking for a fixer-upper at a great value. Sold in As-Is condition. No utilities will be connected for inspections.

6. 2026-05-01
   price $248,900 634-char remark

   Show marketing remark (634 chars)

   MULTIPE OFFERS RECEIVED. THE SELLER HAS REQUESRTED HIGHEST AND BEST BY FRIDAY, MAY 08 AT NOON. NEW LOW PRICE!! Sold brick, 3 Bedroom / 2.5 Bath home located in the heart of Metairie, between West Esplanade Ave and Lake Pontchartrain. The home features a spacious floor plan, which includes a formal dining room, den and living room with fireplace. The exterior features a covered patio and rear deck. The home will need some TLC and repairs, but would be a great opportunity for either the investor or owner/occupant looking for a fixer-upper at a great value. Sold in As-Is condition. No utilities will be connected for inspections.

7. 2026-04-01
   listed $262,000 Active 633-char remark

   Show marketing remark (634 chars)

   MULTIPE OFFERS RECEIVED. THE SELLER HAS REQUESRTED HIGHEST AND BEST BY FRIDAY, MAY 08 AT NOON. NEW LOW PRICE!! Sold brick, 3 Bedroom / 2.5 Bath home located in the heart of Metairie, between West Esplanade Ave and Lake Pontchartrain. The home features a spacious floor plan, which includes a formal dining room, den and living room with fireplace. The exterior features a covered patio and rear deck. The home will need some TLC and repairs, but would be a great opportunity for either the investor or owner/occupant looking for a fixer-upper at a great value. Sold in As-Is condition. No utilities will be connected for inspections.

8. 2026-04-01
   listed $262,000 Active 634-char remark

   Show marketing remark (634 chars)

   MULTIPE OFFERS RECEIVED. THE SELLER HAS REQUESRTED HIGHEST AND BEST BY FRIDAY, MAY 08 AT NOON. NEW LOW PRICE!! Sold brick, 3 Bedroom / 2.5 Bath home located in the heart of Metairie, between West Esplanade Ave and Lake Pontchartrain. The home features a spacious floor plan, which includes a formal dining room, den and living room with fireplace. The exterior features a covered patio and rear deck. The home will need some TLC and repairs, but would be a great opportunity for either the investor or owner/occupant looking for a fixer-upper at a great value. Sold in As-Is condition. No utilities will be connected for inspections.

9. 1977-06-01
   soldstatus

ⓘ 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: $1,103 · $92/mo
• Projected year-2 tax: $1,103 · $92/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 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,978
• − Mortgage interest: −$9,915
• − Property taxes: −$1,103
• − Insurance: −$6,004
• − Repairs & maintenance: −$2,238
• − Management: −$2,238
• − Depreciation: −$5,149
• Taxable income: $1,331
• Est. tax owed @ 24.0%: −$320
• After-tax cash flow: $3,538/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): 39,344
• Household income: $76,261
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 710.0

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: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Two or more races 12% Black 8% Asian 5%
• Hispanic origin (detail): Mexican 3% Cuban 1%
• Common ancestry: Lithuanian 12% Scotch-Irish 1% Slovak 1%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 12% Other Indo-European 3% Arabic 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: ▼ -252.03%
• Current HPI: 138.5632
• Rent YoY: ▲ 2.15%
• 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

-32.4% since first listed

9 events — show timeline

• 2026-05-11 Pending — AcadianaMLS
• 2026-05-11 Pending — GSREIN
• 2026-05-06 Price Changed $177,000 AcadianaMLS
• 2026-05-06 Price Changed $177,000 GSREIN
• 2026-05-01 Price Changed $248,900 AcadianaMLS
• 2026-05-01 Price Changed $248,900 GSREIN
• 2026-04-01 Listed $262,000 GSREIN
• 2026-04-01 Listed $262,000 AcadianaMLS
• 1977-06-01 Sold (Public Records) — Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,103 · +0.1% YoY. Source: county tax records.