1320 Friedrichs St · Gretna, LA 70053

$210,000

3 bd · 2.0 ba · 1,538 sqft · SingleFamily · 63 Days on market

Built 1957 2,983 sqft lot $137/sqft · at area comps Est $207k · at est.

---

Why this score? — see what drove the D 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 +15.9/30.0
• ARV discount +6.8/15.0
• DSCR +4.9/10.0
• Livability +3.5/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Alert! First-time Homebuyers! Dreamers Ready to Make a Home Their Own! This charming 3-bedroom, 2-bath home offers endless potential and the perfect canvas for creating your dream space! Built with sturdy cypress studs, this property has a strong foundation for whatever you envision. With a massive 28x47 workshop, you have the flexibility to convert it into an apartment, business, or even both! Inside the main home, you’ll find a bonus room that opens directly to the outdoors—ideal for a private in-law suite or a peaceful retreat. Plus, there’s a spacious office with built-ins can easily double as a 4th bedroom to suit your needs. Under paneling and wall paper is knotty pine wood paneling. The possibilities are limitless!! Perfectly zoned for both residential and business use, this property is strategically located near Highway 90, offering easy access to New Orleans and Metairie. You’re also just minutes away from Home Depot, a shopping center, and an array of local dining spots. Surrounding the home, you'll enjoy the beauty of mature fruit trees, all within the privacy of an enclosed fence. Relax or entertain on the 24x5.8 covered patio—a perfect outdoor space for year-round enjoyment. One owner. Don’t miss out on this one-of-a-kind opportunity. Make your move today! * * * Some photos are virtually renovated for visual purposes only.

Key facts

• Enclosed fence
• Mature fruit trees
• Bonus room

Tags

• 28X47 WORKSHOP
• BONUS ROOM
• SPACIOUS OFFICE
• KNOTTY PINE WOOD PANELING
• MATURE FRUIT TREES
• ENCLOSED FENCE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/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 $170k (19.2% below list).
• Recommended offer: $170k (19.2% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 5.1% in Gretna — 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 70/100 on livability (#58 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools B+; Watch: crime F, employment 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: 113 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• At $1,697/mo this rent would consume 51% of the median local household income ($40k/yr) (locally 1911% of renters already pay >50% of income on rent) — 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,717 (19.2% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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. 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. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.81% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.08%
• DSCR: 1.09
• GRM: 10.3

CMA / ARV

• ARV (median comp): $206,564
• List price: $210,000
• Delta: 1.66%
• 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
248 Willow Dr	0.47mi	3/2.0	1,559 (+1%)	7mo	$245,000	$157	70
312 Coral Ave	0.54mi	3/1.5	1,549 (+1%)	5mo	$139,500	$90	68
312 Appletree Ln	0.67mi	4/2.0 (+1)	1,567 (+2%)	1mo	$269,000	$172	60
44 Tulip Dr	0.42mi	4/2.0 (+1)	1,396 (-9%)	6mo	$104,000	$74	55
1207 Kepler St	0.57mi	3/2.0	1,385 (-10%)	5mo	$215,000	$155	53
1311 Kepler St	0.56mi	3/2.0	1,389 (-10%)	11mo	$279,000	$201	48
23 Willow Dr	0.73mi	3/2.0	1,650 (+7%)	7mo	$395,900	$240	48
9 Beauregard Dr	0.74mi	2/2.0 (-1)	1,600 (+4%)	10mo	$232,500	$145	45
212 Broadway St	0.68mi	3/2.0	1,750 (+14%)	1mo	$230,000	$131	44
605 Fielding Ave	0.70mi	3/2.0	1,365 (-11%)	10mo	$255,900	$187	40
40 Holly Dr	0.65mi	3/3.0	1,712 (+11%)	9mo	$385,000	$225	40
632 Fairlawn Dr	0.71mi	2/2.0 (-1)	1,747 (+14%)	6mo	$178,000	$102	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.53×
• Total profit: $-27,657
• Equity at exit: $31,312

10-year hold

• IRR: -4.2%
• Equity multiple: 0.73×
• Total profit: $-16,170
• Equity at exit: $18,157

Cash invested: $58,800 (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 70053

• Active inventory: 113
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,697 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$50 /mo · $604/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $102

Break-even live

Break-even rent $1,568

Max offer price $210,000

Occupancy floor 89%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23 New England Ct Gretna, LA	3.0	1.5	1200	$1,600	$1.33	23d	1	0.14mi
721 Hinyub Ave Unit D Gretna, LA	2.0	1.5	1200	$1,250	$1.04	43d	1	0.32mi
1661 Alexander Ct Gretna, LA	2.0	1.5	1350	$1,295	$0.96	43d	1	0.41mi
1665 Alexander Ct Gretna, LA	2.0	1.5	1350	$1,295	$0.96	43d	1	0.42mi
1629 Gary Ct Unit B Terrytown, LA	2.0	1.5	1200	$1,300	$1.08	43d	1	0.42mi
241 Helen St Unit 4D Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	43d	1	0.43mi
241 Helen St Unit 3c Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	21d	1	0.43mi
127 Willow Dr Gretna, LA	3.0	2.0	2250	$2,200	$0.98	43d	1	0.43mi
127 Willow Dr Gretna, LA	3.0	2.0	2250	$2,300	$1.02	23d	1	0.43mi
1625 Cooper Rd Unit D Terrytown, LA	2.0	1.5	1200	$1,300	$1.08	43d	1	0.47mi
1629 Cooper Rd Unit B Terrytown, LA	2.0	1.5	1200	$1,300	$1.08	43d	1	0.47mi
1117 Whitney Ave Gretna, LA	1.0–3.0	1.0–2.0	951	$1,489	$1.57	2d	16	0.51mi
913 Milton St Gretna, LA	3.0	1.0	1061	$2,800	$2.64	43d	1	0.53mi
310 Coral Ave Gretna, LA	3.0	1.5	1216	$1,750	$1.44	23d	1	0.56mi
300 Terry Pkwy Unit C Terrytown, LA	3.0	2.5	1532	$1,800	$1.17	23d	1	0.58mi
349 Cherry Blossom Ln Terrytown, LA	3.0	1.5	1225	$1,600	$1.31	23d	1	0.63mi
14 Gelbke Dr Gretna, LA	3.0	2.0	1327	$1,800	$1.36	23d	1	0.70mi
14 Gelbke Dr Gretna, LA	3.0	2.0	1327	$1,950	$1.47	43d	1	0.70mi
1906 Cooper Rd Gretna, LA	3.0	2.0	1200	$1,600	$1.33	4d	1	0.79mi
2123 Browning Ln Terrytown, LA	3.0	1.5	1073	$1,650	$1.54	2d	1	0.85mi
1318 Monroe St Gretna, LA	2.0	1.0	1200	$1,595	$1.33	3d	1	0.90mi
612 Fried St Gretna, LA	3.0	2.0	1250	$1,600	$1.28	43d	1	0.90mi
1912 Concord Rd Gretna, LA	3.0	2.0	1535	$2,000	$1.30	23d	1	0.94mi
1104 Huey P Long Ave Gretna, LA	2.0	1.0	1140	$1,800	$1.58	23d	1	1.02mi
423 E Butterfly Cir Terrytown, LA	3.0	1.5	1189	$1,500	$1.26	23d	1	1.10mi
2100 Stumpf Blvd Terrytown, LA	3.0	1.0	1100	$1,800	$1.64	4d	1	1.10mi
429 E Butterfly Cir Terrytown, LA	3.0	1.5	1300	$1,950	$1.50	21d	1	1.12mi
429 E Butterfly Cir Terrytown, LA	3.0	1.5	1300	$1,650	$1.27	23d	1	1.12mi
583 Delmar St Terrytown, LA	3.0	1.5	1426	$1,350	$0.95	43d	1	1.14mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	43d	1	1.16mi
2310 Stafford St Gretna, LA	4.0	2.0	1530	$2,050	$1.34	23d	1	1.19mi
1029 Dolhonde St Gretna, LA	2.0	1.0	1100	$1,600	$1.45	43d	1	1.22mi
2124 DuPont Dr Terrytown, LA	3.0	1.0	1127	$1,800	$1.60	14d	1	1.23mi
9 Gerard Ct Gretna, LA	3.0	1.5	1550	$1,600	$1.03	43d	1	1.24mi
700 Derbigny St Gretna, LA	2.0	1.5	1064	$1,300	$1.22	23d	1	1.24mi
517 Diplomat St Terrytown, LA	3.0	2.0	1850	$2,000	$1.08	4d	1	1.32mi
2111 Emerson St Terrytown, LA	3.0	2.5	1500	$1,650	$1.10	43d	1	1.35mi
2320 Mardi Gras Blvd New Orleans, LA	4.0	2.5	1600	$2,500	$1.56	1d	1	1.37mi
532 Oakwood Dr Gretna, LA	3.0	2.5	2100	$2,000	$0.95	4d	1	1.39mi
21 Carriage Ln New Orleans, LA	3.0	2.5	1900	$2,000	$1.05	21d	1	1.41mi

Listing history 18 events

1. 2026-06-18
   days on market $210,000 Active 63 DOM
2. 2026-06-17
   days on market $210,000 Active 62 DOM
3. 2026-06-16
   days on market $210,000 Active 61 DOM
4. 2026-06-16
   price $210,000 Active 60 DOM
5. 2026-06-15
   days on market $215,000 Active 60 DOM
6. 2026-06-13
   days on market $215,000 Active 58 DOM
7. 2026-06-10
   days on market $215,000 Active 55 DOM
8. 2026-06-09
   days on market $215,000 Active 54 DOM
9. 2026-06-08
   pricedays on market $215,000 Active 53 DOM
10. 2026-06-07
    days on market $218,000 Active 52 DOM
11. 2026-06-03
    days on market $218,000 Active 48 DOM
12. 2026-06-02
    days on market $218,000 Active 47 DOM
13. 2026-06-01
    days on market $218,000 Active 46 DOM
14. 2026-05-31
    days on market $218,000 Active 45 DOM
15. 2026-04-26
    status Active 1405-char remark

    Show marketing remark (1405 chars)

    Investor Alert! First-time Homebuyers! Dreamers Ready to Make a Home Their Own! This charming 3-bedroom, 2-bath home offers endless potential and the perfect canvas for creating your dream space! Built with sturdy cypress studs, this property has a strong foundation for whatever you envision. With a massive 28x47 workshop, you have the flexibility to convert it into an apartment, business, or even both! Inside the main home, you’ll find a bonus room that opens directly to the outdoors—ideal for a private in-law suite or a peaceful retreat. Plus, there’s a spacious office with built-ins can easily double as a 4th bedroom to suit your needs. Under paneling and wall paper is knotty pine wood paneling. The possibilities are limitless!! Perfectly zoned for both residential and business use, this property is strategically located near Highway 90, offering easy access to New Orleans and Metairie. You’re also just minutes away from Home Depot, a shopping center, and an array of local dining spots. Surrounding the home, you'll enjoy the beauty of mature fruit trees, all within the privacy of an enclosed fence. Relax or entertain on the 24x5.8 covered patio—a perfect outdoor space for year-round enjoyment. One owner. Don’t miss out on this one-of-a-kind opportunity. Make your move today! * * * Some photos are virtually renovated for visual purposes only.

16. 2026-04-15
    listed $218,000 Active 1405-char remark

    Show marketing remark (1365 chars)

    Investor Alert! First-time Homebuyers! Dreamers Ready to Make a Home Their Own! This charming 3-bedroom, 2-bath home offers endless potential and the perfect canvas for creating your dream space! Built with sturdy cypress studs, this property has a strong foundation for whatever you envision. With a massive 28x47 workshop, you have the flexibility to convert it into an apartment, business, or even both! Inside the main home, you'll find a bonus room that opens directly to the outdoors--ideal for a private in-law suite or a peaceful retreat. Plus, there's a spacious office with built-ins can easily double as a 4th bedroom to suit your needs. Under paneling and wall paper is knotty pine wood paneling. The possibilities are limitless!! Perfectly zoned for both residential and business use, this property is strategically located near Highway 90, offering easy access to New Orleans and Metairie. You're also just minutes away from Home Depot, a shopping center, and an array of local dining spots. Surrounding the home, you'll enjoy the beauty of mature fruit trees, all within the privacy of an enclosed fence. Relax or entertain on the 24x5.8 covered patio--a perfect outdoor space for year-round enjoyment. One owner. Don't miss out on this one-of-a-kind opportunity. Make your move today!*** Some photos are virtually renovated for visual purposes only.

17. 2026-04-15
    listed $218,000 Active 1365-char remark

    Show marketing remark (1365 chars)

    Investor Alert! First-time Homebuyers! Dreamers Ready to Make a Home Their Own! This charming 3-bedroom, 2-bath home offers endless potential and the perfect canvas for creating your dream space! Built with sturdy cypress studs, this property has a strong foundation for whatever you envision. With a massive 28x47 workshop, you have the flexibility to convert it into an apartment, business, or even both! Inside the main home, you'll find a bonus room that opens directly to the outdoors--ideal for a private in-law suite or a peaceful retreat. Plus, there's a spacious office with built-ins can easily double as a 4th bedroom to suit your needs. Under paneling and wall paper is knotty pine wood paneling. The possibilities are limitless!! Perfectly zoned for both residential and business use, this property is strategically located near Highway 90, offering easy access to New Orleans and Metairie. You're also just minutes away from Home Depot, a shopping center, and an array of local dining spots. Surrounding the home, you'll enjoy the beauty of mature fruit trees, all within the privacy of an enclosed fence. Relax or entertain on the 24x5.8 covered patio--a perfect outdoor space for year-round enjoyment. One owner. Don't miss out on this one-of-a-kind opportunity. Make your move today!*** Some photos are virtually renovated for visual purposes only.

18. 2002-09-01
    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: $604 · $50/mo
• Projected year-2 tax: $1,155 · $96/mo
• Expected delta: +$551/yr (+$46/mo · 91.3%)

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

Taxation est. · year 1

• Rental income: $20,366
• − Mortgage interest: −$11,763
• − Property taxes: −$604
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,629
• − Management: −$1,629
• − Depreciation: −$6,109
• Taxable loss: −$2,419
• Est. tax savings @ 24.0%: +$580
• After-tax cash flow: $1,801/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 — Gretna

• Score: 70/100
• State rank: #58
• US rank: #7679

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gretna, LA
• County: Jefferson Parish · 426,999 people
• City population: 56,969
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 16,621
• Household income: $39,950
• Rent vs Own: 53.4% rent · 46.6% own
• Severe rent burden: 1911.0

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 0.70)
• Race & ethnicity: White 36% Black 34% Hispanic / Latino 23% Two or more races 15% Asian 2%
• Hispanic origin (detail): Mexican 4% Cuban 2%
• Common ancestry: Lithuanian 7% Iranian 1% Slovak 1%
• Foreign-born: 19% · Canada, Vietnam, China
• Languages at home: 76% English-only · Spanish 20% Vietnamese 1% German/W. Germanic 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: ▼ -115.90%
• Current HPI: 121.765
• Rent YoY: —
• 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

+0.0% since first listed

4 events — show timeline

• 2026-04-26 Relisted — GBRMLS
• 2026-04-15 Listed $218,000 GBRMLS
• 2026-04-15 Listed $218,000 AcadianaMLS
• 2002-09-01 Sold (Public Records) — Public Records

Property tax history

+1.4%/yr

Latest (2025): $604 · -0.2% YoY. Source: county tax records.