3126 Edenborn Ave #616 · Metairie, LA 70002

$79,500

2 bd · 1.0 ba · 941 sqft · Condo · 16 Days on market

Built 1965 $84/sqft · 15% below area Est $94k · 15% under $328/mo HOA · 26% of rent

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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 +23.4/30.0
• ARV discount +14.4/15.0
• 1% rule +10.0/10.0
• DSCR +7.5/10.0
• Livability +4.4/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FABULOUS PRICE! AWESOME LOCATION! GREAT INVESTMENT OPPORTUNITY! This spacious 2 bed/1 bath 2nd floor condo offers an open, functional floor plan and a comfortable living area that flows seamlessly into the kitchen which features a refrigerator, range/oven, dishwasher, and ample cabinetry. You'll enjoy central heating and air, convenient on-site card-operated laundry, gated pool area, and ample parking. The low condo fees include water, garbage, and exterior insurance that enhance the property's affordability and investment appeal. Currently tenant-occupied at end of lease term, this condo offers flexibility for an owner-occupant or investor. It is ideally located near grocery stores, restaurants, shopping, banking, and even a mall making it possible to not need a car. Also, it is near major commuter routes with easy access from New Orleans to the Northshore. It is an excellent opportunity at an attractive price with room to make it your own!

Key facts

• Gated pool area
• Ample parking
• $328 HOA

Tags

• OPEN FUNCTIONAL FLOOR PLAN
• COMFORTABLE LIVING AREA
• GATED POOL AREA
• ON-SITE CARD-OPERATED LAUNDRY
• AMPLE PARKING

Property features AI

Finance

• HOA & community: Monthly association fee includes common areas and water; Association amenities: Clubhouse; Community features: Common grounds and pool

Exterior

• Parking: Off-street parking available
• Security: Building security; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Condo; Brick construction; Shingle roof; Single-story unit in a 3-story building; Slab foundation; City lot
• Construction: Built with brick
• Exterior features: Balcony; Community in-ground pool

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: Total rooms: 5
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Carbon monoxide detector; Pantry
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $81 ($970/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% 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.
• Zoned schools: Harold Keller Elementary School (math 26% / reading 26%, grade F, #374 of 646 statewide, top 58%, 662 students, 55% FRL); J.D. Meisler Middle School (math 13% / reading 28%, grade F, #161 of 218 statewide, top 76%, 753 students, 50% FRL); Grace King High School (math 16% / reading 23%, grade F, #186 of 265 statewide, top 73%, 1,463 students, 47% 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 (-2.8%/yr); 121 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $550 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 26% of rent.
• 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 $78,307 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.61% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.94%
• DSCR: 1.35
• GRM: 5.2

CMA / ARV

• ARV (median comp): $93,812
• List price: $79,500
• Delta: -4.60%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.50×
• Total profit: $-11,235
• Equity at exit: $11,854

10-year hold

• IRR: -17.6%
• Equity multiple: 0.25×
• Total profit: $-16,640
• Equity at exit: $6,874

Cash invested: $22,260 (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 70002

• Rents YoY: -2.8%
• Active inventory: 121
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,282 high
• Mortgage (P&I): −$417
• Tax from tax record: −$88 /mo · $1,051/yr
• Insurance: −$33
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$328
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $81

Break-even live

Break-even rent $1,180

Max offer price $79,500

Occupancy floor 89%

Sensitivity live

Price	-10% $126	-5% $103	+0% $81	+5% $58	+10% $36
Rent	-10% $-20	-5% $30	+0% $81	+5% $132	+10% $182
Rate	-1.0pp $121	-0.5pp $101	base $81	+0.5pp $60	+1.0pp $39

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: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3105 Edenborn Ave Metairie, LA	1.0	1.0	702	$1,025	$1.46	5d	1	0.08mi
3320 N Arnoult Rd #327 Metairie, LA	2.0	1.0	800	$1,350	$1.69	45d	1	0.15mi
3320 N Arnoult Rd #110 Metairie, LA	2.0	2.0	980	$1,450	$1.48	6d	1	0.15mi
3900 Hessmer Ave Unit 10 Metairie, LA	1.0	1.5	650	$845	$1.30	45d	1	0.16mi
3340 Edenborn Ave Metairie, LA	2.0	1.5	980	$1,168	$1.19	45d	1	0.19mi
3900 Division St Unit D Metairie, LA	2.0	1.0	920	$1,300	$1.41	45d	1	0.21mi
4020 Hessmer Ave Metairie, LA	1.0–2.0	1.0–1.5	972	$1,300	$1.34	6d	3	0.22mi
3732 Olney St Unit 110 Metairie, LA	1.0	1.0	851	$1,355	$1.59	45d	1	0.23mi
4102 Hessmer Ave Unit 3 Metairie, LA	3.0	1.5	1050	$1,325	$1.26	16d	1	0.24mi
4101 Hessmer Ave #220 Metairie, LA	1.0	1.0	570	$995	$1.75	45d	1	0.25mi
4063 Division St Metairie, LA	2.0	1.5	1100	$1,350	$1.23	45d	1	0.25mi
3700 Wanda Lynn Dr Unit B Metairie, LA	1.0	1.0	550	$1,100	$2.00	16d	1	0.31mi
4218 Hessmer Ave #115 Metairie, LA	1.0	1.0	571	$950	$1.66	25d	1	0.33mi
3015 Jodie Pl Metairie, LA	2.0	1.0	1000	$1,275	$1.27	25d	1	0.53mi
2955 Ridgelake Dr Ste 108 Metairie, LA	3.0	1.0	1000	$1,625	$1.62	25d	1	0.57mi
3301 W Esplanade Ave N Metairie, LA	1.0–3.0	1.0–2.0	931	$1,482	$1.59	6d	17	0.58mi
3017 14th St Unit C Metairie, LA	2.0	1.5	900	$1,300	$1.44	6d	1	0.61mi
3531 Ridgelake Dr Unit 3 Metairie, LA	2.0	1.0	638	$1,350	$2.12	46d	1	0.66mi
3531 Ridgelake Dr Unit 3 Metairie, LA	2.0	1.0	685	$1,250	$1.82	25d	1	0.66mi
3531 Ridgelake Dr Unit 3 Metairie, LA	2.0	1.0	638	$1,350	$2.12	45d	1	0.66mi
3113 Cleary Ave Metairie, LA	2.0	1.0	946	$1,148	$1.21	45d	1	0.72mi
3004 9th St Unit 104 Metairie, LA	1.0	1.0	700	$1,000	$1.43	45d	1	0.77mi
3901 N I 10 Service Rd E Unit C322 Metairie, LA	1.0	1.0	616	$995	$1.62	25d	1	0.81mi
3901 N I 10 Service Rd E Unit F343 Metairie, LA	2.0	1.0	865	$1,225	$1.42	25d	1	0.81mi
3901 N I 10 Service Rd E Unit F243 Metairie, LA	2.0	1.0	865	$1,250	$1.45	25d	1	0.81mi
2330 Edenborn Ave #205 Metairie, LA	1.0	1.0	550	$1,100	$2.00	25d	1	0.85mi
2330 Edenborn Ave #227 Metairie, LA	1.0	1.0	550	$975	$1.77	45d	1	0.85mi
2330 Edenborn Ave #107 Metairie, LA	1.0	1.0	550	$1,125	$2.05	45d	1	0.85mi
2330 Edenborn Ave #321 Metairie, LA	1.0	1.0	544	$1,100	$2.02	6d	1	0.85mi
2724 Whitney Pl #229 Metairie, LA	1.0	1.0	756	$1,195	$1.58	45d	1	0.87mi
2511 Metairie Lawn Dr #215 Metairie, LA	1.0	1.0	689	$1,600	$2.32	45d	1	0.87mi
2912 Metairie Ct Unit 14 Metairie, LA	2.0	1.0	800	$1,200	$1.50	3d	1	0.88mi
2912 Metairie Ct Unit 09 Metairie, LA	2.0	1.0	800	$1,210	$1.51	3d	1	0.88mi
2732 Whitney Pl #209 Metairie, LA	1.0	1.0	756	$1,250	$1.65	45d	1	0.89mi
2324 N Hullen St Metairie, LA	1.0–2.0	1.0	720	$1,995	$2.77	45d	1	0.89mi
2404 Athania Pkwy Metairie, LA	2.0	1.0	1000	$1,250	$1.25	25d	1	0.92mi
3008 5th St #1 Metairie, LA	2.0	1.0	800	$1,400	$1.75	21d	1	0.93mi
3008 5th St Metairie, LA	2.0	1.0–1.5	927	$1,498	$1.61	16d	2	0.93mi
3008 5th St #12 Metairie, LA	2.0	1.5	1055	$1,595	$1.51	21d	1	0.93mi
3017 Lake Villa Dr Unit 4 Metairie, LA	2.0	1.0	655	$1,050	$1.60	45d	1	0.93mi

HOA detail condo

• Monthly dues: $328 · $3,936/yr
• Likely covers: watertrashpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-21
   days on market $79,500 Active 16 DOM
2. 2026-06-18
   days on market $79,500 Active 13 DOM
3. 2026-06-17
   days on market $79,500 Active 12 DOM
4. 2026-06-16
   days on market $79,500 Active 11 DOM
5. 2026-06-15
   days on market $79,500 Active 10 DOM
6. 2026-06-13
   pricedays on market $79,500 Active 8 DOM
7. 2026-06-10
   days on market $89,500 Active 5 DOM

   Show marketing remark (955 chars)

   FABULOUS PRICE! AWESOME LOCATION! GREAT INVESTMENT OPPORTUNITY! This spacious 2 bed/1 bath 2nd floor condo offers an open, functional floor plan and a comfortable living area that flows seamlessly into the kitchen which features a refrigerator, range/oven, dishwasher, and ample cabinetry. You'll enjoy central heating and air, convenient on-site card-operated laundry, gated pool area, and ample parking. The low condo fees include water, garbage, and exterior insurance that enhance the property's affordability and investment appeal. Currently tenant-occupied at end of lease term, this condo offers flexibility for an owner-occupant or investor. It is ideally located near grocery stores, restaurants, shopping, banking, and even a mall making it possible to not need a car. Also, it is near major commuter routes with easy access from New Orleans to the Northshore. It is an excellent opportunity at an attractive price with room to make it your own!

8. 2026-06-09
   days on market $89,500 Active 4 DOM
9. 2026-06-08
   days on market $89,500 Active 3 DOM
10. 2026-06-07
    days on marketlisting id $89,500 Active 2 DOM
11. 2026-05-31
    days on market $89,500 Active 91 DOM
12. 2026-05-08
    price $89,500 955-char remark
13. 2026-05-08
    price $89,500 967-char remark
14. 2026-04-25
    price $91,000 955-char remark
15. 2026-04-25
    price $91,000 967-char remark
16. 2026-04-24
    historical $975
17. 2026-04-11
    listed $975
18. 2026-03-16
    price $94,000 955-char remark
19. 2026-03-16
    price $94,000 967-char remark
20. 2026-03-01
    listed $99,000 Active 955-char remark
21. 2026-03-01
    listed $99,000 Active 967-char remark
22. 2020-01-07
    soldstatus $83,000
23. 2019-12-20
    soldstatus $83,000 Closed
24. 2019-11-03
    status Pending
25. 2019-06-12
    listed $79,500
26. 2019-06-12
    listed $79,500 Active
27. 2005-04-29
    soldstatus $55,000
28. 1992-11-01
    soldstatus $17,600

ⓘ 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: $1,051 · $88/mo
• Projected year-2 tax: $1,051 · $88/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 · 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: $15,387
• − Mortgage interest: −$4,453
• − Property taxes: −$1,051
• − Insurance: −$1,195
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − HOA: −$3,936
• − Depreciation: −$2,313
• Taxable loss: −$23
• Est. tax savings @ 24.0%: +$6
• After-tax cash flow: $976/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): 19,426
• Household income: $65,436
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1269.0

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 0.59)
• Race & ethnicity: White 60% Black 16% Hispanic / Latino 15% Two or more races 10% Asian 6%
• Common ancestry: Lithuanian 9% Italian 3% Scotch-Irish 1%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 79% English-only · Spanish 11% Other Indo-European 3% Chinese 3%

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: ▼ -175.35%
• Current HPI: 196.8402
• Rent YoY: ▼ -2.82%
• 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

+351.7% since first listed

22 events — show timeline

• 2026-06-12 Price Changed $79,500 AcadianaMLS
• 2026-06-12 Price Changed $79,500 GSREIN
• 2026-06-10 Price Changed $84,500 AcadianaMLS
• 2026-06-10 Price Changed $84,500 GSREIN
• 2026-06-05 Listed $89,500 GSREIN
• 2026-06-05 Listed $89,500 AcadianaMLS
• 2026-05-08 Price Changed $89,500 AcadianaMLS
• 2026-05-08 Price Changed $89,500 GSREIN
• 2026-04-25 Price Changed $91,000 AcadianaMLS
• 2026-04-25 Price Changed $91,000 GSREIN
• 2026-04-24 Rental Removed $975 GSREIN
• 2026-04-11 Listed for Rent $975 GSREIN
• 2026-03-16 Price Changed $94,000 AcadianaMLS
• 2026-03-16 Price Changed $94,000 GSREIN
• 2026-03-01 Listed $99,000 AcadianaMLS
• 2020-01-07 Sold (Public Records) $83,000 Public Records
• 2019-12-20 Sold (MLS) $83,000 GSREIN
• 2019-11-03 Pending — GSREIN
• 2019-06-12 Listed $79,500 GSREIN
• 2019-06-12 Listed $79,500 AcadianaMLS
• 2005-04-29 Sold (Public Records) $55,000 Public Records
• 1992-11-01 Sold (Public Records) $17,600 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,051 · +0.2% YoY. Source: county tax records.