509 1st Ave · Harvey, LA 70058

$179,900

3 bd · 2.0 ba · 1,490 sqft · SingleFamily · 145 Days on market

Built 1977 5,758 sqft lot $121/sqft · 10% below area Est $199k · 10% 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 +20.9/30.0
• ARV discount +11.8/15.0
• DSCR +6.6/10.0
• 1% rule +4.7/10.0
• Livability +3.2/5.0
• 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

Foreclosed two-story brick home offering 3 bedrooms, 2 full bathrooms, and a separate office. Features include a covered second-floor porch and a functional layout. Conveniently located to the Westbank Expressway with easy access to major roadways. No backyard; ample space in the front of the property. Property sold as-is. Great opportunity for investors or buyers seeking value. Measurements are approximate and should be verified by buyer and/or buyer's agent. Seller requires all buyers to view property prior to submitting an offer.

Key facts

• Two-story brick home
• Functional layout
• 5,758 sq ft lot

Tags

• TWO-STORY BRICK HOME
• COVERED SECOND-FLOOR PORCH
• FUNCTIONAL LAYOUT
• EASY ACCESS TO MAJOR ROADWAYS
• AMPLE SPACE IN THE FRONT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/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 $175k (2.6% below list).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.7% in Harvey — 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 64/100 on livability (#166 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime F, amenities F.
• 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 (-3.9%/yr); 189 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); 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• This rent runs 34% of the median local income ($62k/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 145 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago; this cycle's ask has dropped $19k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; list at $180k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $158,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
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: 0.97% ✗
• Cap rate: 7.96%
• Cash-on-cash: 5.95%
• DSCR: 1.26
• GRM: 8.6

CMA / ARV

• ARV (median comp): $199,000
• List price: $179,900
• Delta: -9.60%
• 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
611 Macarthur Ave	0.23mi	3/2.0	1,406 (-6%)	1mo	$255,000	$181	79
816 2nd Ave	0.43mi	3/2.0	1,539 (+3%)	6mo	$259,000	$168	69
502 Bellanger St	0.32mi	3/2.5	1,604 (+8%)	9mo	$238,000	$148	63
713 Lydia Ct	0.50mi	3/1.5	1,422 (-5%)	10mo	$190,000	$134	59
700 Estalote Ave	0.55mi	3/2.0	1,630 (+9%)	1mo	$235,000	$144	58
533 Maple Ave	0.65mi	3/2.0	1,531 (+3%)	11mo	$90,000	$59	56
647 Bellanger St	0.37mi	3/1.0	1,330 (-11%)	7mo	$209,000	$157	55
4005 School Dr	0.64mi	3/2.0	1,590 (+7%)	10mo	$279,900	$176	51
615 Brown Ave	0.52mi	3/2.0	1,275 (-14%)	4mo	$220,000	$173	49
541 Allo Ave	0.58mi	3/1.5	1,687 (+13%)	1mo	$105,000	$62	48
624 Rebenstich Dr	0.46mi	4/2.0 (+1)	1,700 (+14%)	8mo	$267,000	$157	44
744 Brown Ave	0.60mi	2/1.0 (-1)	1,325 (-11%)	11mo	$99,000	$75	36

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: -12.8%
• Equity multiple: 0.55×
• Total profit: $-22,619
• Equity at exit: $26,824

10-year hold

• IRR: -9.0%
• Equity multiple: 0.51×
• Total profit: $-24,511
• Equity at exit: $15,554

Cash invested: $50,372 (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 70058

• Rents YoY: -3.9%
• Active inventory: 189
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,751 high
• Mortgage (P&I): −$943
• Tax from tax record: −$116 /mo · $1,387/yr
• Insurance: −$75
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $183

Break-even live

Break-even rent $1,520

Max offer price $179,900

Occupancy floor 85%

Sensitivity live

Price	-10% $285	-5% $234	+0% $183	+5% $132	+10% $81
Rent	-10% $45	-5% $114	+0% $183	+5% $252	+10% $322
Rate	-1.0pp $274	-0.5pp $229	base $183	+0.5pp $137	+1.0pp $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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 Bellanger St Harvey, LA	2.0	1.0	1008	$1,500	$1.49	45d	1	0.33mi
629 Bellanger St Harvey, LA	2.0	1.0	970	$1,200	$1.24	45d	1	0.35mi
729 5th Ave Harvey, LA	2.0	2.0	975	$1,450	$1.49	45d	1	0.41mi
526 Brown Ave Harvey, LA	2.0	1.0	903	$1,350	$1.50	25d	1	0.44mi
519 Farrington Dr Marrero, LA	2.0	1.0	955	$1,500	$1.57	45d	1	0.47mi
728 Lydia Ct Marrero, LA	3.0	3.5	1500	$2,600	$1.73	5d	1	0.56mi
2110 Willow St Unit C Harvey, LA	2.0	1.0	975	$1,155	$1.18	45d	1	0.58mi
433 Avenue A Marrero, LA	3.0	2.0	1558	$1,750	$1.12	45d	1	0.62mi
511 Avenue B Marrero, LA	3.0	1.0	1044	$1,650	$1.58	45d	1	0.68mi
433 Olive Ave Harvey, LA	3.0	1.0	1104	$1,600	$1.45	25d	1	0.75mi
429 Olive Ave Harvey, LA	3.0	1.0	1067	$1,500	$1.41	25d	1	0.75mi
500 Avenue D Marrero, LA	3.0	1.0	1000	$1,500	$1.50	45d	1	0.82mi
532 Chalmette St Harvey, LA	3.0	1.0	1224	$1,450	$1.18	4d	1	0.85mi
1028 Gaudet Dr Marrero, LA	3.0	1.5	1420	$1,800	$1.27	45d	1	0.92mi
1121 Farrington Dr Marrero, LA	3.0	1.0	1000	$1,750	$1.75	5d	1	0.94mi
4824 4th St Unit A Marrero, LA	2.0	1.5	1100	$1,250	$1.14	45d	1	0.95mi
539 Avenue G Unit G Marrero, LA	2.0	1.0	1105	$1,400	$1.27	25d	1	0.97mi
508 Avenue G Unit A Marrero, LA	3.0	2.0	1062	$1,550	$1.46	45d	1	0.99mi
512 Avenue G Unit G Marrero, LA	3.0	2.0	1418	$1,995	$1.41	15d	1	1.00mi
455 9th St Unit A New Orleans, LA	2.0	1.5	917	$2,550	$2.78	17d	1	1.03mi
1100 Avenue A Marrero, LA	2.0	1.0	1200	$1,500	$1.25	45d	1	1.03mi
617 7th St New Orleans, LA	3.0	2.0	1768	$3,400	$1.92	4d	1	1.13mi
3969 Tchoupitoulas St Unit D New Orleans, LA	2.0	2.0	965	$2,100	$2.18	25d	1	1.13mi
822 Gulf Dr Gretna, LA	2.0	1.0	900	$1,300	$1.44	15d	1	1.16mi
4023 Tchoupitoulas St New Orleans, LA	3.0	2.0	1608	$3,200	$1.99	45d	1	1.17mi
514 Washington Ave New Orleans, LA	2.0	2.0	1100	$2,200	$2.00	4d	1	1.18mi
2407 Florence St Harvey, LA	2.0	2.0	945	$1,700	$1.80	25d	1	1.18mi
1122 10th St Gretna, LA	2.0	1.0	973	$1,700	$1.75	5d	1	1.21mi
1029 Dolhonde St Gretna, LA	2.0	1.0	1100	$1,600	$1.45	45d	1	1.26mi
700 Derbigny St Gretna, LA	2.0	1.5	1064	$1,300	$1.22	25d	1	1.26mi
4029 14th St Marrero, LA	3.0	1.5	1511	$1,650	$1.09	5d	1	1.26mi
515 3rd St New Orleans, LA	3.0	3.0	1687	$2,650	$1.57	45d	1	1.27mi
1145 Warren Dr Harvey, LA	4.0	2.0	1315	$1,750	$1.33	5d	1	1.28mi
929 Eighth St New Orleans, LA	3.0	1.5	1600	$2,250	$1.41	25d	1	1.28mi
1120 Aline St Unit 2A New Orleans, LA	2.0	1.0	900	$1,450	$1.61	25d	1	1.29mi
4036 14th St Marrero, LA	4.0	2.0	1350	$1,950	$1.44	22d	1	1.29mi
2205 Argyll St Harvey, LA	3.0	2.0	1100	$1,750	$1.59	22d	1	1.30mi
627 Milan St New Orleans, LA	2.0	2.0	1140	$1,700	$1.49	25d	1	1.30mi
428 1st St New Orleans, LA	2.0	1.5	1378	$2,800	$2.03	25d	1	1.30mi
4029 Chestnut St Marrero, LA	3.0	2.0	1600	$2,100	$1.31	5d	1	1.30mi

Listing history 24 events

1. 2026-06-21
   days on market $179,900 Active 145 DOM
2. 2026-06-18
   days on market $179,900 Active 142 DOM
3. 2026-06-17
   days on market $179,900 Active 141 DOM
4. 2026-06-16
   days on market $179,900 Active 140 DOM
5. 2026-06-15
   days on market $179,900 Active 139 DOM
6. 2026-06-13
   days on market $179,900 Active 137 DOM
7. 2026-06-10
   days on market $179,900 Active 134 DOM
8. 2026-06-09
   days on market $179,900 Active 133 DOM
9. 2026-06-08
   days on market $179,900 Active 132 DOM
10. 2026-06-07
    days on market $179,900 Active 131 DOM
11. 2026-06-03
    days on market $179,900 Active 127 DOM
12. 2026-06-02
    days on market $179,900 Active 126 DOM
13. 2026-06-01
    days on market $179,900 Active 125 DOM
14. 2026-05-31
    days on market $179,900 Active 124 DOM
15. 2026-04-02
    price $179,900 538-char remark

    Show marketing remark (538 chars)

    Foreclosed two-story brick home offering 3 bedrooms, 2 full bathrooms, and a separate office. Features include a covered second-floor porch and a functional layout. Conveniently located to the Westbank Expressway with easy access to major roadways. No backyard; ample space in the front of the property. Property sold as-is. Great opportunity for investors or buyers seeking value. Measurements are approximate and should be verified by buyer and/or buyer's agent. Seller requires all buyers to view property prior to submitting an offer.

16. 2026-04-02
    price $179,900 538-char remark

    Show marketing remark (538 chars)

    Foreclosed two-story brick home offering 3 bedrooms, 2 full bathrooms, and a separate office. Features include a covered second-floor porch and a functional layout. Conveniently located to the Westbank Expressway with easy access to major roadways. No backyard; ample space in the front of the property. Property sold as-is. Great opportunity for investors or buyers seeking value. Measurements are approximate and should be verified by buyer and/or buyer's agent. Seller requires all buyers to view property prior to submitting an offer.

17. 2026-01-22
    listed $199,000 Active 538-char remark

    Show marketing remark (538 chars)

    Foreclosed two-story brick home offering 3 bedrooms, 2 full bathrooms, and a separate office. Features include a covered second-floor porch and a functional layout. Conveniently located to the Westbank Expressway with easy access to major roadways. No backyard; ample space in the front of the property. Property sold as-is. Great opportunity for investors or buyers seeking value. Measurements are approximate and should be verified by buyer and/or buyer's agent. Seller requires all buyers to view property prior to submitting an offer.

18. 2026-01-22
    listed $199,000 Active 538-char remark

    Show marketing remark (538 chars)

    Foreclosed two-story brick home offering 3 bedrooms, 2 full bathrooms, and a separate office. Features include a covered second-floor porch and a functional layout. Conveniently located to the Westbank Expressway with easy access to major roadways. No backyard; ample space in the front of the property. Property sold as-is. Great opportunity for investors or buyers seeking value. Measurements are approximate and should be verified by buyer and/or buyer's agent. Seller requires all buyers to view property prior to submitting an offer.

19. 2025-03-26
    listed $2,200
20. 2024-09-26
    soldstatus $110,000
21. 2000-10-01
    soldstatus $86,500
22. 2000-09-18
    soldstatus $86,500
23. 2000-07-14
    listed $79,900
24. 2000-07-14
    listed $79,900

ⓘ 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: $1,387 · $116/mo
• Projected year-2 tax: $1,387 · $116/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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,017
• − Mortgage interest: −$10,077
• − Property taxes: −$1,387
• − Insurance: −$1,697
• − Repairs & maintenance: −$1,681
• − Management: −$1,681
• − Depreciation: −$5,233
• Taxable loss: −$741
• Est. tax savings @ 24.0%: +$178
• After-tax cash flow: $2,376/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 — Harvey

• Score: 64/100
• State rank: #166
• US rank: #13980

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harvey, LA
• County: Jefferson Parish · 426,999 people
• City population: 39,578
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 39,578
• Household income: $62,416
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 1992.0

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 0.60)
• Race & ethnicity: Black 58% White 20% Hispanic / Latino 13% Asian 7% Two or more races 4%
• Hispanic origin (detail): Mexican 1% Dominican 1%
• Common ancestry: Lithuanian 4% Hispanic 1%
• Foreign-born: 13% · Canada, Vietnam
• Languages at home: 81% English-only · Spanish 10% Vietnamese 5% French/Haitian/Cajun 2%

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: ▼ -96.82%
• Current HPI: 156.1052
• Rent YoY: ▼ -3.88%
• 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

+125.2% since first listed

10 events — show timeline

• 2026-04-02 Price Changed $179,900 AcadianaMLS
• 2026-04-02 Price Changed $179,900 GSREIN
• 2026-01-22 Listed $199,000 GSREIN
• 2026-01-22 Listed $199,000 AcadianaMLS
• 2025-03-26 Listed for Rent $2,200 REDFIN
• 2024-09-26 Sold (Public Records) $110,000 Public Records
• 2000-10-01 Sold (Public Records) $86,500 Public Records
• 2000-09-18 Sold (MLS) $86,500 GSREIN
• 2000-07-14 Listed $79,900 AcadianaMLS
• 2000-07-14 Listed $79,900 GSREIN

Property tax history

+1.9%/yr

Latest (2025): $1,387 · +0.3% YoY. Source: county tax records.