129 Avant Garde Cir #129

Kenner, LA 70065

$129,500C-

2 bd · 2.0 ba · 1,000 sqft · Built 1981 · Townhouse · Active · 156 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,746/mo
• Mortgage (P&I): −$679
• Tax + insurance: −$106
• HOA: −$567
• Vac / Maint / Mgmt: −$367
• Net cashflow: $27/mo
• Annual: $328/yr
• Cap rate: 6.55%
• Cash-on-cash: 0.90%
• DSCR: 1.04
• 1% rule: 1.35%
• Cash to close: $36,260

Investor read

• This is a 2-bed/2.0-bath townhouse listed at $130k.
• At list price, monthly cash flow is $27 ($328/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• It's been on market 156 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $895 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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.
• Watch-outs: HOA is 32% of rent.
• Market conditions: Rents falling (-4.2%/yr); 293 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).
• 5 sale attempts since 33y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $64k; list at $130k implies a 102% gain — meaningful room to come down on a strong offer.
• Cap rate 6.5% vs local median 5.3% in Kenner — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 31% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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 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.