1023 S Starrett Rd · Metairie, LA 70003

$218,500

4 bd · 2.0 ba · 1,534 sqft · SingleFamily · 6 Days on market

Built 1959 Est $230k · 5% 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 +23.8/30.0
• ARV discount +9.8/15.0
• DSCR +7.7/10.0
• 1% rule +5.1/10.0
• 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

Let's Turn Some Keys, Baby..... Your recently updated 4-bedroom 2-bathroom home is located in a sought after Metairie location. Your home features a new roof, updated flooring, and modern appliances. Enjoy your generously sized closets, spacious living areas, and a sizable backyard that offers space for entertaining, gardening, or outdoor relaxing. Your home is a short drive to shopping, dining, schools, and everyday amenities. Schedule your showing today and start making memories in your new home this summer.

Key facts

• Sizable backyard
• Modern appliances
• Updated flooring

Tags

• NEW ROOF
• UPDATED FLOORING
• MODERN APPLIANCES
• GENEROUSLY SIZED CLOSETS
• SPACIOUS LIVING AREAS
• SIZABLE BACKYARD

Property features AI

Exterior

• Parking: Off-street parking for two vehicles
• Utilities: Public water; Public sewer
• Home design: Single-story; Stucco exterior; Shingle roof; Slab foundation
• Construction: Built with stucco construction
• Exterior features: City lot; Rectangular lot; Lot dimensions approximately 41 x 100

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: 6 total rooms; Excellent condition

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $218k.

Deal economics

• At list price, monthly cash flow is $-6 ($-75/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (0.5% below list).
• Meets the 1% rule at list price ($2k rent vs $218k).
• Recommended offer: $217k (0.5% below list) — sets the bar for cash-flow.
• Cap rate 8.6% 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; 18 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 35% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 7y ago 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.
• Current owner paid $98k; list at $218k implies a 123% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• 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 $217,394 (0.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.01% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.24%
• DSCR: 1.37
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $230,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
324 Filmore St	0.54mi	3/2.0 (-1)	1,520 (-1%)	1mo	$292,500	$192	67
1117 Taylor St	0.52mi	3/2.0 (-1)	1,575 (+3%)	0mo	$110,020	$70	66
7 Albert Ct	0.50mi	4/2.0	1,661 (+8%)	3mo	$235,000	$141	60
804 Sophia St	0.24mi	3/2.0 (-1)	1,749 (+14%)	3mo	$273,000	$156	58
702 Webster St	0.61mi	3/2.0 (-1)	1,600 (+4%)	2mo	$100,000	$63	57
10521 Carthage St	0.62mi	3/2.0 (-1)	1,475 (-4%)	3mo	$143,000	$97	57
705 Cynthia Ave	0.74mi	3/2.0 (-1)	1,557 (+2%)	1mo	$258,000	$166	57
705 N Upland Ave	0.65mi	4/2.0	1,405 (-8%)	1mo	$265,000	$189	55
413 Arnold Ave	0.56mi	3/2.0 (-1)	1,703 (+11%)	3mo	$255,000	$150	48
624 Lynnette Dr	0.69mi	4/1.0	1,393 (-9%)	3mo	$125,000	$90	46
712 Lynnette Dr	0.74mi	4/2.0	1,689 (+10%)	4mo	$415,000	$246	45
308 Florida St	0.50mi	3/1.0 (-1)	1,331 (-13%)	3mo	$121,000	$91	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 · 2.15% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.39×
• Total profit: $-37,499
• Equity at exit: $32,579

10-year hold

• IRR: -11.3%
• Equity multiple: 0.35×
• Total profit: $-39,996
• Equity at exit: $18,892

Cash invested: $61,180 (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: 8.2×

Monthly cashflow live

• Estimated rent: $2,216 high
• Mortgage (P&I): −$1,146
• Tax from tax record: −$94 /mo · $1,124/yr
• Insurance: −$91
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $-6

Break-even live

Break-even rent $2,224

Max offer price $217,394

Occupancy floor 95%

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: $54,625
• Closing costs: $6,555
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
413 Maryland Ave Metairie, LA	3.0	2.0	1330	$1,400	$1.05	23d	1	0.43mi
216 Trudeau Dr Metairie, LA	4.0	3.0	1825	$2,800	$1.53	4d	1	0.45mi
10613 Chadwick Dr New Orleans, LA	3.0	2.0	1460	$2,200	$1.51	2d	1	0.54mi
1300 Webster St Kenner, LA	3.0	2.0	1200	$1,700	$1.42	43d	1	0.71mi
1300 Webster St Kenner, LA	3.0	2.0	1200	$1,700	$1.42	23d	1	0.71mi
808 Cynthia Ave Metairie, LA	3.0	2.0	1500	$2,100	$1.40	14d	1	0.79mi
1001 Minnesota Ave Kenner, LA	3.0	2.0	1800	$2,100	$1.17	43d	1	0.85mi
527 Little Farms Ave New Orleans, LA	3.0	2.0	1855	$2,800	$1.51	23d	1	0.85mi
1108 Maryland Ave Kenner, LA	3.0	1.0	1050	$2,050	$1.95	14d	1	0.92mi
606 N Wilson St Metairie, LA	3.0	1.5	1200	$1,800	$1.50	43d	1	0.95mi
705 N Lester Ave Metairie, LA	3.0	2.0	1334	$2,100	$1.57	43d	1	0.95mi
1807 Moisant St Kenner, LA	4.0	2.0	2000	$2,000	$1.00	23d	1	0.97mi
129 Stewart Ave New Orleans, LA	3.0	1.0	1466	$1,950	$1.33	23d	1	0.97mi
10125 Stacy Ct New Orleans, LA	3.0	2.0	1950	$2,495	$1.28	20d	1	1.07mi
1712 Michigan Ave Kenner, LA	3.0	1.0	1068	$1,900	$1.78	44d	1	1.17mi
2013 Minnesota Ave Kenner, LA	4.0	2.0	1300	$2,000	$1.54	21d	1	1.30mi
128 Phyllis Ct New Orleans, LA	3.0	2.0	1264	$2,400	$1.90	23d	1	1.32mi
2127 Connecticut Ave Unit A Kenner, LA	3.0	2.0	1310	$2,000	$1.53	43d	1	1.49mi

Listing history 6 events

1. 2026-06-18
   days on market $218,500 Active 6 DOM
2. 2026-06-17
   days on market $218,500 Active 5 DOM
3. 2026-06-16
   days on market $218,500 Active 4 DOM
4. 2026-06-15
   days on market $218,500 Active 3 DOM
5. 2026-06-13
   remarks 517-char remark
6. 2026-06-13
   listed $218,500 Active 1 DOM

ⓘ 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: $1,124 · $94/mo
• Projected year-2 tax: $1,202 · $100/mo
• Expected delta: +$78/yr (+$6/mo · 6.9%)

ⓘ 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: $26,595
• − Mortgage interest: −$12,239
• − Property taxes: −$1,124
• − Insurance: −$6,211
• − Repairs & maintenance: −$2,128
• − Management: −$2,128
• − Depreciation: −$6,356
• Taxable loss: −$3,591
• Est. tax savings @ 24.0%: +$862
• After-tax cash flow: $787/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

+157.1% since first listed

18 events — show timeline

• 2026-06-12 Listed $218,500 GSREIN
• 2026-06-12 Listed $218,500 AcadianaMLS
• 2026-01-31 Pending — GSREIN
• 2026-01-30 Sold (MLS) $98,000 GSREIN
• 2025-11-24 Price Changed $109,900 AcadianaMLS
• 2025-11-24 Price Changed $109,900 GSREIN
• 2025-10-20 Listed $120,000 AcadianaMLS
• 2025-10-20 Listed $120,000 GSREIN
• 2024-04-12 Price Changed $129,000 GSREIN
• 2024-03-09 Price Changed $139,000 GSREIN
• 2024-02-15 Listed $129,000 AcadianaMLS
• 2019-11-12 Sold (Public Records) $75,000 Public Records
• 2019-11-07 Sold (MLS) $75,000 GSREIN
• 2019-07-03 Pending — GSREIN
• 2019-05-31 Price Changed $85,000 GSREIN
• 2019-04-15 Listed $90,000 GSREIN
• 2019-04-15 Listed $85,000 AcadianaMLS
• 1999-05-01 Sold (Public Records) — Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,124 · +5.2% YoY. Source: county tax records.