609 Vanderbilt Ln · Kenner, LA 70065

$179,000

3 bd · 2.0 ba · 1,200 sqft · SingleFamily · 85 Days on market

Built 1976 5,000 sqft lot $149/sqft · 13% below area Est $207k · 13% under ↓ 10% since listing

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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 +24.5/30.0
• ARV discount +13.5/15.0
• DSCR +7.9/10.0
• 1% rule +5.3/10.0
• Livability +3.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +1.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fix and flip or renovate and occupy. Ideal location just a few blocks off or W Esplanade and 3 houses from Continental. Conventionally located near !10 and the New Orleans airport. 4-minute drive to Chateau Golf Course. 3 bedroom 2 baths, fenced in and lots of potential. HOME IS OCCUPIED MUST HAVE AN APPOINTMENT. Will not go FHA or VA as is. Seller will look at ALL OFFERS

Key facts

• Ideal location
• Fenced in
• 5,000 sq ft lot

Tags

• IDEAL LOCATION
• FENCED IN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $168k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 5.3% in Kenner — 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 78/100 on livability (#6 in LA, #2,414 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, employment C-, crime D.
• 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 falling (-4.2%/yr); 292 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• This rent runs 33% of the median local income ($67k/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 85 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $168,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D 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 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: 1.03% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.81%
• DSCR: 1.39
• GRM: 8.1

CMA / ARV

• ARV (median comp): $206,781
• List price: $179,000
• Delta: -13.44%
• 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
669 Spartan Ln	0.18mi	4/2.0 (+1)	1,199 (-0%)	0mo	$259,000	$216	86
601 Lancer Ln	0.14mi	3/2.0	1,182 (-2%)	7mo	$187,750	$159	85
648 Mayfair Ln	0.12mi	4/2.0 (+1)	1,285 (+7%)	3mo	$180,000	$140	75
717 Mayfair Ln	0.22mi	3/2.0	1,303 (+9%)	2mo	$265,000	$203	74
3289 Continental Dr	0.19mi	3/1.5	1,123 (-6%)	6mo	$174,000	$155	74
701 Ronson Dr	0.45mi	4/2.0 (+1)	1,213 (+1%)	2mo	$250,000	$206	70
933 Ronson Dr	0.56mi	3/2.0	1,200 (0%)	8mo	$223,000	$186	68
2 Bradley Pl	0.42mi	3/2.0	1,378 (+15%)	4mo	$275,900	$200	52
361 W Louisiana State St	0.53mi	3/1.5	1,350 (+12%)	1mo	$196,000	$145	52
3128 Huntsville St	0.53mi	3/1.5	1,047 (-13%)	2mo	$127,000	$121	50
3028 Acron St	0.70mi	3/2.0	1,115 (-7%)	8mo	$145,000	$130	49
301 W Louisiana State Dr	0.70mi	3/2.0	1,325 (+10%)	8mo	$256,000	$193	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: -6.1%
• Equity multiple: 0.78×
• Total profit: $-11,016
• Equity at exit: $26,689

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-483
• Equity at exit: $15,477

Cash invested: $50,120 (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 70065

• Rents YoY: -4.2%
• Active inventory: 292
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,836 high
• Mortgage (P&I): −$939
• Tax from tax record: −$70 /mo · $834/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $368

Break-even live

Break-even rent $1,371

Max offer price $179,000

Occupancy floor 75%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
187 Avant Garde Cir #187 Kenner, LA	2.0	1.5	1050	$1,500	$1.43	14d	1	0.18mi
215 Avant Garde Cir Kenner, LA	2.0	2.0	1200	$1,500	$1.25	3d	1	0.19mi
3120 Phoenix St Unit D Kenner, LA	2.0	1.5	1075	$1,100	$1.02	43d	1	0.51mi
1201 W Esplanade Ave Kenner, LA	1.0–2.0	1.0–2.0	746	$1,110	$1.49	43d	1	0.56mi
309 Emerson Dr Unit C Kenner, LA	3.0	1.0	900	$1,200	$1.33	4d	1	0.66mi
3600 Loyola Dr Unit 353 Kenner, LA	2.0	2.0	1100	$1,445	$1.31	43d	1	0.69mi
300 Duke Dr Unit 4 Kenner, LA	2.0	1.0	838	$1,200	$1.43	43d	1	0.70mi
3655 Loyola Dr Unit F361 Kenner, LA	2.0	2.0	1330	$2,395	$1.80	23d	1	0.74mi
300 Clemson Dr Kenner, LA	2.0	1.5	1025	$1,500	$1.46	14d	1	0.74mi
3655 Loyola Dr Unit C329 Kenner, LA	2.0	2.0	1349	$2,320	$1.72	43d	1	0.74mi
3655 Loyola Dr Unit F158 Kenner, LA	2.0	2.0	1367	$2,445	$1.79	14d	1	0.74mi
3655 Loyola Dr Unit C223 Kenner, LA	2.0	2.0	1330	$2,295	$1.73	1d	1	0.74mi
3655 Loyola Dr Unit C229 Kenner, LA	2.0	2.0	1349	$2,335	$1.73	43d	1	0.74mi
3655 Loyola Dr Apt F261 Kenner, LA	2.0	2.0	1330	$2,425	$1.82	14d	1	0.74mi
3655 Loyola Dr Unit C224 Kenner, LA	2.0	2.0	1367	$2,305	$1.69	1d	1	0.74mi
3655 Loyola Dr Unit D236 Kenner, LA	2.0	2.0	1367	$2,320	$1.70	1d	1	0.74mi
3700 Loyola Dr Unit 377 Kenner, LA	2.0	2.0	1110	$1,495	$1.35	43d	1	0.76mi
3655 Loyola Dr Unit F460 Kenner, LA	2.0	2.0	1330	$2,280	$1.71	1d	1	0.80mi
1400 W Esplanade Ave Kenner, LA	2.0	1.0–2.5	801	$1,370	$1.71	43d	1	0.80mi
3600 W Loyola Dr Unit 182 Kenner, LA	2.0	2.0	1052	$1,515	$1.44	43d	1	0.83mi
3600 W Loyola Dr Unit 159 Kenner, LA	2.0	2.0	1052	$1,520	$1.44	43d	1	0.83mi
1500 W Esplanade Ave Kenner, LA	2.0–3.0	2.0	1587	$2,000	$1.26	43d	1	0.84mi
3655 W Loyola Dr Kenner, LA	1.0–2.0	1.0–2.0	1169	$2,345	$2.01	1d	35	0.91mi
2755 Huntsville St Unit B Kenner, LA	3.0	1.5	1500	$1,650	$1.10	43d	1	0.93mi
2755 Huntsville St Apt C Kenner, LA	3.0	2.0	1216	$1,575	$1.30	4d	1	0.93mi
2752 Jasper St Unit A Kenner, LA	3.0	1.5	1400	$1,450	$1.04	43d	1	0.93mi
2759 Albany St Unit B Kenner, LA	3.0	2.0	1250	$1,500	$1.20	43d	1	0.95mi
2755 Albany St Unit D Kenner, LA	3.0	2.0	1250	$1,500	$1.20	43d	1	0.96mi
2838 Kingston St Unit A Kenner, LA	3.0	1.5	1500	$1,600	$1.07	4d	1	0.97mi
2804 Salem St Kenner, LA	2.0	2.0	1450	$1,400	$0.97	43d	1	0.97mi
3611 Arizona Ave Kenner, LA	4.0	2.0	1287	$1,900	$1.48	4d	1	0.99mi
129 Auburn Pl Kenner, LA	3.0	2.0	1200	$1,800	$1.50	1d	1	1.01mi
1516 Mayfield St Kenner, LA	3.0	2.0	1407	$1,900	$1.35	43d	1	1.03mi
1516 Mayfield St Kenner, LA	3.0	2.0	1407	$1,900	$1.35	44d	1	1.03mi
121 W Esplanade Ave Kenner, LA	1.0–2.0	1.0–2.0	950	$1,600	$1.68	1d	1	1.04mi
3872 E Loyola Dr Kenner, LA	3.0	2.0	1170	$1,575	$1.35	20d	1	1.04mi
604 Vintage Dr Unit C Kenner, LA	2.0	2.5	1200	$1,350	$1.12	43d	1	1.05mi
2800 Richland St Unit B Kenner, LA	2.0	2.5	1000	$1,600	$1.60	21d	1	1.06mi
2726 Greenwood St Kenner, LA	2.0	1.5	980	$1,200	$1.22	43d	1	1.07mi
511 27th St Kenner, LA	3.0	2.0	1200	$1,575	$1.31	4d	1	1.08mi

Listing history 18 events

1. 2026-06-18
   days on market $179,000 Active 85 DOM
2. 2026-06-17
   days on market $179,000 Active 84 DOM
3. 2026-06-16
   days on market $179,000 Active 83 DOM
4. 2026-06-15
   days on market $179,000 Active 82 DOM
5. 2026-06-13
   days on market $179,000 Active 80 DOM
6. 2026-06-10
   days on market $179,000 Active 77 DOM
7. 2026-06-09
   days on market $179,000 Active 76 DOM
8. 2026-06-08
   days on market $179,000 Active 75 DOM
9. 2026-06-07
   days on market $179,000 Active 74 DOM
10. 2026-06-03
    days on market $179,000 Active 70 DOM
11. 2026-06-02
    days on market $179,000 Active 69 DOM
12. 2026-06-01
    days on market $179,000 Active 68 DOM
13. 2026-05-31
    days on market $179,000 Active 67 DOM
14. 2026-05-04
    price $179,000 374-char remark

    Show marketing remark (374 chars)

    Fix and flip or renovate and occupy. Ideal location just a few blocks off or W Esplanade and 3 houses from Continental. Conventionally located near !10 and the New Orleans airport. 4-minute drive to Chateau Golf Course. 3 bedroom 2 baths, fenced in and lots of potential. HOME IS OCCUPIED MUST HAVE AN APPOINTMENT. Will not go FHA or VA as is. Seller will look at ALL OFFERS

15. 2026-05-04
    price $179,000 374-char remark

    Show marketing remark (374 chars)

    Fix and flip or renovate and occupy. Ideal location just a few blocks off or W Esplanade and 3 houses from Continental. Conventionally located near !10 and the New Orleans airport. 4-minute drive to Chateau Golf Course. 3 bedroom 2 baths, fenced in and lots of potential. HOME IS OCCUPIED MUST HAVE AN APPOINTMENT. Will not go FHA or VA as is. Seller will look at ALL OFFERS

16. 2026-03-25
    listed $199,000 Active 374-char remark

    Show marketing remark (374 chars)

    Fix and flip or renovate and occupy. Ideal location just a few blocks off or W Esplanade and 3 houses from Continental. Conventionally located near !10 and the New Orleans airport. 4-minute drive to Chateau Golf Course. 3 bedroom 2 baths, fenced in and lots of potential. HOME IS OCCUPIED MUST HAVE AN APPOINTMENT. Will not go FHA or VA as is. Seller will look at ALL OFFERS

17. 2026-03-25
    listed $199,000 Active 374-char remark

    Show marketing remark (374 chars)

    Fix and flip or renovate and occupy. Ideal location just a few blocks off or W Esplanade and 3 houses from Continental. Conventionally located near !10 and the New Orleans airport. 4-minute drive to Chateau Golf Course. 3 bedroom 2 baths, fenced in and lots of potential. HOME IS OCCUPIED MUST HAVE AN APPOINTMENT. Will not go FHA or VA as is. Seller will look at ALL OFFERS

18. 2003-10-01
    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: $834 · $70/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$150/yr (+$13/mo · 18.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $22,037
• − Mortgage interest: −$10,027
• − Property taxes: −$834
• − Insurance: −$895
• − Repairs & maintenance: −$1,763
• − Management: −$1,763
• − Depreciation: −$5,207
• Taxable income: $1,548
• Est. tax owed @ 24.0%: −$372
• After-tax cash flow: $4,045/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 — Kenner

• Score: 78/100
• State rank: #6
• US rank: #2414

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenner, LA
• County: Jefferson Parish · 426,999 people
• City population: 66,707
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 48,936
• Household income: $67,285
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1906.0

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 0.69)
• Race & ethnicity: White 47% Hispanic / Latino 27% Two or more races 15% Black 15% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Lithuanian 9% Slovak 1% Italian 1%
• Foreign-born: 19% · Canada, China, Vietnam
• Languages at home: 72% English-only · Spanish 21% 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: ▼ -214.79%
• Current HPI: 139.5115
• Rent YoY: ▼ -4.19%
• 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

-10.1% since first listed

5 events — show timeline

• 2026-05-04 Price Changed $179,000 AcadianaMLS
• 2026-05-04 Price Changed $179,000 GSREIN
• 2026-03-25 Listed $199,000 GSREIN
• 2026-03-25 Listed $199,000 AcadianaMLS
• 2003-10-01 Sold (Public Records) — Public Records

Property tax history

+2.0%/yr

Latest (2025): $834 · -0.4% YoY. Source: county tax records.