3619 Rose Ave

Chalmette, LA 70043

$268,000C-

5 bd · 2.5 ba · 1,865 sqft · Built 1973 · MultiFamily · Pending · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,952/mo
• Mortgage (P&I): −$1,405
• Tax + insurance: −$447
• HOA: −$0
• Vac / Maint / Mgmt: −$620
• Net cashflow: $480/mo
• Annual: $5,760/yr
• Cap rate: 8.44%
• Cash-on-cash: 7.68%
• DSCR: 1.34
• 1% rule: 1.10%
• Cash to close: $75,040

Investor read

• This is a 5-bed/2.5-bath multifamily listed at $268k. Condition is rated good.
• At list price, monthly cash flow is $480 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $268k).
• It's been on market 44 days — a 3% lower offer ($260k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $260k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#137 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime F, amenities F, commute F.
• Market conditions: Rents rising (+3.1%/yr); 214 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 112 units permitted in St. Bernard Parish in 2024 (0 in 5+ unit buildings).
• St. Bernard County population projected at +89% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• Cap rate 8.4% vs local median 5.4% in Chalmette — 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.
• At $2,952/mo this rent would consume 64% of the median local household income ($55k/yr) (locally 881% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.