220 9th St · Gretna, LA 70053

$170,000

2 bd · 2.0 ba · 1,997 sqft · SingleFamily · 161 Days on market

Built 1952 $85/sqft · 53% below area

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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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Livability +3.5/5.0
• 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

Charming single family 2BR/2BA home with beautiful yard space in central Gretna. Features a spacious kitchen, plus living and den areas offering flexible space. Enclosed laundry room, office area, sunroom, and back porch add versatility. This home is ready for its next owner to make it their own. Located in a peaceful, family-oriented neighborhood. NEW ROOF as of 1/30/2026

Key facts

• Spacious kitchen
• Beautiful yard space
• Sunroom

Tags

• BEAUTIFUL YARD SPACE
• SPACIOUS KITCHEN
• ENCLOSED LAUNDRY ROOM
• OFFICE AREA
• SUNROOM
• BACK PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $389 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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; 23 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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 $2,004/mo this rent would consume 60% 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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 30y ago; this cycle's ask has dropped $50k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $170k implies a 162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 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 1952 — 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. 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.
8. 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.
9. 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: 1.18% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.82%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (median comp): $363,848
• List price: $170,000
• Delta: -53.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1713 Thomas St	0.52mi	3/2.0 (+1)	2,004 (+0%)	9mo	$292,000	$146	62
620 Amelia St	0.21mi	3/2.0 (+1)	2,128 (+7%)	17mo	$468,500	$220	60
1603 Calder St	0.46mi	2/2.0	1,902 (-5%)	14mo	$230,000	$121	59
15 Derbes Dr	0.52mi	3/2.0 (+1)	1,828 (-8%)	2mo	$330,000	$181	55
40 Holly Dr	0.27mi	3/3.0 (+1)	1,712 (-14%)	9mo	$385,000	$225	48
161 Willow Dr	0.74mi	3/2.5 (+1)	2,180 (+9%)	1mo	$385,000	$177	43
830 15th St	0.56mi	2/2.5	1,740 (-13%)	12mo	$230,000	$132	40
48 Marie Dr	0.71mi	3/2.0 (+1)	1,938 (-3%)	21mo	$325,000	$168	39
1401 Jefferson St	0.72mi	3/2.0 (+1)	1,700 (-15%)	9mo	$309,500	$182	29

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: -1.5%
• Equity multiple: 0.94×
• Total profit: $-2,708
• Equity at exit: $25,348

10-year hold

• IRR: 8.2%
• Equity multiple: 1.62×
• Total profit: $29,743
• Equity at exit: $14,698

Cash invested: $47,600 (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: 7.1×

Monthly cashflow live

• Estimated rent: $2,004 high
• Mortgage (P&I): −$891
• Tax from tax record: −$231 /mo · $2,777/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $389

Break-even live

Break-even rent $1,511

Max offer price $170,000

Occupancy floor 76%

Sensitivity live

Price	-10% $486	-5% $437	+0% $389	+5% $341	+10% $293
Rent	-10% $231	-5% $310	+0% $389	+5% $468	+10% $548
Rate	-1.0pp $475	-0.5pp $433	base $389	+0.5pp $345	+1.0pp $300

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
612 Fried St Gretna, LA	3.0	2.0	1250	$1,600	$1.28	44d	1	0.20mi
14 Gelbke Dr Gretna, LA	3.0	2.0	1327	$1,800	$1.36	24d	1	0.40mi
14 Gelbke Dr Gretna, LA	3.0	2.0	1327	$1,950	$1.47	44d	1	0.40mi
127 Willow Dr Gretna, LA	3.0	2.0	2250	$2,300	$1.02	24d	1	0.54mi
127 Willow Dr Gretna, LA	3.0	2.0	2250	$2,200	$0.98	44d	1	0.54mi
1701 8th St Harvey, LA	3.0	2.0	1912	$2,200	$1.15	44d	1	1.00mi
1661 Alexander Ct Gretna, LA	2.0	1.5	1350	$1,295	$0.96	44d	1	1.03mi
1665 Alexander Ct Gretna, LA	2.0	1.5	1350	$1,295	$0.96	44d	1	1.04mi
241 Helen St Unit 4D Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	44d	1	1.15mi
241 Helen St Unit 3c Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	22d	1	1.15mi
9 Gerard Ct Gretna, LA	3.0	1.5	1550	$1,600	$1.03	44d	1	1.17mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	44d	1	1.22mi
2041 S Chippewa St Unit 2041 New Orleans, LA	3.0	2.5	1400	$2,700	$1.93	44d	1	1.25mi
536 Jackson Ave New Orleans, LA	2.0	1.0	1259	$2,475	$1.97	22d	1	1.26mi
428 1st St New Orleans, LA	2.0	1.5	1378	$2,800	$2.03	24d	1	1.26mi
300 Terry Pkwy Unit C Terrytown, LA	3.0	2.5	1532	$1,800	$1.17	24d	1	1.30mi
2115 Chippewa St New Orleans, LA	3.0	2.0	1315	$2,400	$1.83	16d	1	1.33mi
2115 Chippewa St New Orleans, LA	3.0	2.0	1315	$2,500	$1.90	44d	1	1.33mi
349 Cherry Blossom Ln Terrytown, LA	3.0	1.5	1225	$1,600	$1.31	24d	1	1.35mi
530 2nd St New Orleans, LA	3.0	2.5	2050	$5,250	$2.56	44d	1	1.36mi
515 3rd St New Orleans, LA	3.0	3.0	1687	$2,650	$1.57	45d	1	1.37mi
2517 Saint Thomas St New Orleans, LA	3.0	3.0	2010	$4,000	$1.99	4d	1	1.41mi
913 Felicity St New Orleans, LA	1.0–3.0	1.0–2.0	999	$1,450	$1.45	24d	1	1.42mi

Listing history 36 events

1. 2026-06-18
   days on market $170,000 Active 161 DOM
2. 2026-06-17
   days on market $170,000 Active 160 DOM
3. 2026-06-16
   days on market $170,000 Active 159 DOM
4. 2026-06-15
   days on market $170,000 Active 158 DOM
5. 2026-06-13
   days on market $170,000 Active 156 DOM
6. 2026-06-10
   days on market $170,000 Active 153 DOM
7. 2026-06-09
   days on market $170,000 Active 152 DOM
8. 2026-06-08
   days on market $170,000 Active 151 DOM
9. 2026-06-07
   days on market $170,000 Active 150 DOM
10. 2026-06-03
    days on market $170,000 Active 146 DOM
11. 2026-06-02
    days on market $170,000 Active 145 DOM
12. 2026-06-01
    days on market $170,000 Active 144 DOM
13. 2026-05-31
    days on market $170,000 Active 143 DOM
14. 2026-05-12
    price $170,000 375-char remark

    Show marketing remark (375 chars)

    Charming single family 2BR/2BA home with beautiful yard space in central Gretna. Features a spacious kitchen, plus living and den areas offering flexible space. Enclosed laundry room, office area, sunroom, and back porch add versatility. This home is ready for its next owner to make it their own. Located in a peaceful, family-oriented neighborhood. NEW ROOF as of 1/30/2026

15. 2026-05-12
    price $170,000 375-char remark

    Show marketing remark (375 chars)

    Charming single family 2BR/2BA home with beautiful yard space in central Gretna. Features a spacious kitchen, plus living and den areas offering flexible space. Enclosed laundry room, office area, sunroom, and back porch add versatility. This home is ready for its next owner to make it their own. Located in a peaceful, family-oriented neighborhood. NEW ROOF as of 1/30/2026

16. 2026-02-26
    price $180,000 375-char remark

    Show marketing remark (375 chars)

    Charming single family 2BR/2BA home with beautiful yard space in central Gretna. Features a spacious kitchen, plus living and den areas offering flexible space. Enclosed laundry room, office area, sunroom, and back porch add versatility. This home is ready for its next owner to make it their own. Located in a peaceful, family-oriented neighborhood. NEW ROOF as of 1/30/2026

17. 2026-02-26
    price $180,000 375-char remark

    Show marketing remark (375 chars)

    Charming single family 2BR/2BA home with beautiful yard space in central Gretna. Features a spacious kitchen, plus living and den areas offering flexible space. Enclosed laundry room, office area, sunroom, and back porch add versatility. This home is ready for its next owner to make it their own. Located in a peaceful, family-oriented neighborhood. NEW ROOF as of 1/30/2026

18. 2026-02-04
    price $210,000 375-char remark

    Show marketing remark (375 chars)

    Charming single family 2BR/2BA home with beautiful yard space in central Gretna. Features a spacious kitchen, plus living and den areas offering flexible space. Enclosed laundry room, office area, sunroom, and back porch add versatility. This home is ready for its next owner to make it their own. Located in a peaceful, family-oriented neighborhood. NEW ROOF as of 1/30/2026

19. 2026-02-04
    price $210,000 375-char remark

    Show marketing remark (375 chars)

    Charming single family 2BR/2BA home with beautiful yard space in central Gretna. Features a spacious kitchen, plus living and den areas offering flexible space. Enclosed laundry room, office area, sunroom, and back porch add versatility. This home is ready for its next owner to make it their own. Located in a peaceful, family-oriented neighborhood. NEW ROOF as of 1/30/2026

20. 2026-01-08
    listed $220,000 Active 375-char remark

    Show marketing remark (375 chars)

    Charming single family 2BR/2BA home with beautiful yard space in central Gretna. Features a spacious kitchen, plus living and den areas offering flexible space. Enclosed laundry room, office area, sunroom, and back porch add versatility. This home is ready for its next owner to make it their own. Located in a peaceful, family-oriented neighborhood. NEW ROOF as of 1/30/2026

21. 2026-01-08
    listed $220,000 Active 375-char remark

    Show marketing remark (375 chars)

    Charming single family 2BR/2BA home with beautiful yard space in central Gretna. Features a spacious kitchen, plus living and den areas offering flexible space. Enclosed laundry room, office area, sunroom, and back porch add versatility. This home is ready for its next owner to make it their own. Located in a peaceful, family-oriented neighborhood. NEW ROOF as of 1/30/2026

22. 2023-12-03
    historical $1,850
23. 2023-10-19
    listed $220,000
24. 2023-09-14
    price $220,000
25. 2023-07-28
    listed $1,850
26. 2023-06-16
    listed $220,000
27. 2023-06-14
    price $235,000
28. 2023-06-13
    price $220,000
29. 2023-04-20
    price $250,000
30. 2023-04-06
    listed $235,000
31. 2021-08-17
    price $285,000
32. 2021-06-06
    listed $285,000
33. 1996-05-23
    soldstatus $65,000
34. 1996-05-01
    soldstatus $65,000
35. 1996-03-20
    listed $65,900
36. 1996-03-20
    listed $65,900

ⓘ 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: $2,777 · $231/mo
• Projected year-2 tax: $2,777 · $231/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $24,047
• − Mortgage interest: −$9,523
• − Property taxes: −$2,777
• − Insurance: −$850
• − Repairs & maintenance: −$1,924
• − Management: −$1,924
• − Depreciation: −$4,945
• Taxable income: $2,104
• Est. tax owed @ 24.0%: −$505
• After-tax cash flow: $4,167/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

+158.0% since first listed

23 events — show timeline

• 2026-05-12 Price Changed $170,000 AcadianaMLS
• 2026-05-12 Price Changed $170,000 GSREIN
• 2026-02-26 Price Changed $180,000 AcadianaMLS
• 2026-02-26 Price Changed $180,000 GSREIN
• 2026-02-04 Price Changed $210,000 AcadianaMLS
• 2026-02-04 Price Changed $210,000 GSREIN
• 2026-01-08 Listed $220,000 GSREIN
• 2026-01-08 Listed $220,000 AcadianaMLS
• 2023-12-03 Rental Removed $1,850 GSREIN
• 2023-10-19 Listed $220,000 AcadianaMLS
• 2023-09-14 Price Changed $220,000 GSREIN
• 2023-07-28 Listed for Rent $1,850 GSREIN
• 2023-06-16 Listed $220,000 AcadianaMLS
• 2023-06-14 Price Changed $235,000 GSREIN
• 2023-06-13 Price Changed $220,000 GSREIN
• 2023-04-20 Price Changed $250,000 GSREIN
• 2023-04-06 Listed $235,000 AcadianaMLS
• 2021-08-17 Price Changed $285,000 GSREIN
• 2021-06-06 Listed $285,000 AcadianaMLS
• 1996-05-23 Sold (MLS) $65,000 GSREIN
• 1996-05-01 Sold (Public Records) $65,000 Public Records
• 1996-03-20 Listed $65,900 AcadianaMLS
• 1996-03-20 Listed $65,900 GSREIN

Property tax history

+7.0%/yr

Latest (2025): $2,777 · -0.2% YoY. Source: county tax records.