4508 Kawanee Ave · Metairie, LA 70006

$330,000

5 bd · 3.5 ba · 3,328 sqft · SingleFamily · 6 Days on market

Built 1970 7,701 sqft lot $99/sqft · 19% below area Est $407k · 19% under ↓ 15% since listing

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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 +20.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +5.1/10.0
• Livability +4.4/5.0
• 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

Conveniently located in the heart of Metairie, the kitchen opens up to a formal dining room and a large living room great for entertaining. This Home has 2 primary Suites, one located downstairs and another upstairs. The backyard is spacious, with a nice covered patio! New AC upstairs

Key facts

• 7,701 sq ft lot
• Built 1970
• Listed 6 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Two-story home; Very good condition
• Construction: Brick and wood siding exterior; Shingle roof; Slab foundation; Built using traditional construction materials
• Exterior features: Covered patio/porch; Shed(s); City lot; Rectangular lot; Lot dimensions approximately 50 x 156

Interior

• Bathrooms: Three full bathrooms; One half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $24 ($286/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $330k).
• Cap rate 7.9% 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: 76 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• At $3,336/mo this rent would consume 52% of the median local household income ($77k/yr) (locally 590% 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 $2k of loan paydown is wiped out by about $10k 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 2y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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 $330,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 8.2

CMA / ARV

• ARV (median comp): $406,988
• List price: $330,000
• Delta: -18.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4508 Kawanee Ave	0.00mi	5/3.5	3,328 (0%)	1mo	$324,000	$97	99
4509 Morales St	0.53mi	5/3.0	3,200 (-4%)	10mo	$475,000	$148	59
4808 Jasper St	0.48mi	5/4.0	3,047 (-8%)	6mo	$455,000	$149	56
4200 Courtland Dr	0.74mi	4/3.0 (-1)	3,300 (-1%)	7mo	$280,000	$85	51
4650 Jasper St	0.28mi	4/3.5 (-1)	2,981 (-10%)	17mo	$335,000	$112	51
4400 Meadowdale St	0.23mi	4/4.5 (-1)	2,882 (-13%)	10mo	$689,900	$239	50
4112 Ithaca St	0.40mi	5/2.5	2,964 (-11%)	16mo	$370,000	$125	46
3963 Bellview St	0.60mi	5/3.0	3,141 (-6%)	23mo	$660,000	$210	42
3924 Peoples St	0.64mi	4/2.5 (-1)	3,140 (-6%)	16mo	$371,900	$118	39
4824 Sanford St	0.63mi	4/3.0 (-1)	2,910 (-13%)	21mo	$340,000	$117	25
3817 Transcontinental Dr	0.72mi	4/3.0 (-1)	2,943 (-12%)	19mo	$345,000	$117	25

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: -15.7%
• Equity multiple: 0.44×
• Total profit: $-51,702
• Equity at exit: $49,204

10-year hold

• IRR: -7.1%
• Equity multiple: 0.55×
• Total profit: $-42,034
• Equity at exit: $28,532

Cash invested: $92,400 (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 70006

• Active inventory: 76
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $3,336 high
• Mortgage (P&I): −$1,731
• Tax from tax record: −$317 /mo · $3,804/yr
• Insurance: −$138
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$701
• Net cashflow: $24

Break-even live

Break-even rent $3,306

Max offer price $330,000

Occupancy floor 94%

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4632 Ithaca St Metairie, LA	4.0	2.5	2860	$2,600	$0.91	23d	1	0.26mi
4405 Laplace St Metairie, LA	4.0	2.5	2686	$2,800	$1.04	4d	1	0.46mi
4824 W Esplanade Ave Metairie, LA	4.0	3.5	3221	$6,300	$1.96	43d	1	0.72mi
4908 Mayeaux St Metairie, LA	4.0	2.5	3029	$3,400	$1.12	43d	1	1.12mi
4824 Folse Dr Metairie, LA	5.0	4.5	3707	$3,900	$1.05	43d	1	1.16mi
4808 Neyrey Dr Metairie, LA	5.0	3.5	3992	$4,500	$1.13	14d	1	1.22mi
3717 Lilac Ln Metairie, LA	4.0	2.5	2308	$2,350	$1.02	23d	1	1.49mi

Listing history 23 events

1. 2026-05-10
   status Pending 285-char remark

   Show marketing remark (285 chars)

   Conveniently located in the heart of Metairie, the kitchen opens up to a formal dining room and a large living room great for entertaining. This Home has 2 primary Suites, one located downstairs and another upstairs. The backyard is spacious, with a nice covered patio! New AC upstairs

2. 2026-05-10
   status Pending 285-char remark

   Show marketing remark (285 chars)

   Conveniently located in the heart of Metairie, the kitchen opens up to a formal dining room and a large living room great for entertaining. This Home has 2 primary Suites, one located downstairs and another upstairs. The backyard is spacious, with a nice covered patio! New AC upstairs

3. 2026-05-04
   listed $330,000 Active 285-char remark

   Show marketing remark (285 chars)

   Conveniently located in the heart of Metairie, the kitchen opens up to a formal dining room and a large living room great for entertaining. This Home has 2 primary Suites, one located downstairs and another upstairs. The backyard is spacious, with a nice covered patio! New AC upstairs

4. 2026-05-04
   listed $330,000 Active 285-char remark

   Show marketing remark (285 chars)

   Conveniently located in the heart of Metairie, the kitchen opens up to a formal dining room and a large living room great for entertaining. This Home has 2 primary Suites, one located downstairs and another upstairs. The backyard is spacious, with a nice covered patio! New AC upstairs

5. 2026-04-26
   price $330,000
6. 2026-04-26
   price $330,000
7. 2026-04-17
   price $339,000
8. 2026-04-17
   price $339,000
9. 2026-03-02
   status Active
10. 2026-03-02
    price $345,000
11. 2026-02-27
    price $345,000
12. 2025-11-03
    listed $359,900 Active
13. 2025-08-07
    price $359,900
14. 2025-08-07
    price $359,900
15. 2025-07-29
    listed $349,900 Active
16. 2025-04-28
    price $367,400
17. 2025-04-28
    price $367,400
18. 2025-03-10
    price $368,900
19. 2025-03-03
    price $368,900
20. 2024-09-03
    listed $379,000 Active
21. 2024-07-22
    price $379,000
22. 2024-07-05
    listed $379,000
23. 1991-11-01
    soldstatus

ⓘ 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: $3,804 · $317/mo
• Projected year-2 tax: $3,804 · $317/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 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: $40,032
• − Mortgage interest: −$18,485
• − Property taxes: −$3,804
• − Insurance: −$6,769
• − Repairs & maintenance: −$3,203
• − Management: −$3,203
• − Depreciation: −$9,600
• Taxable loss: −$5,031
• Est. tax savings @ 24.0%: +$1,207
• After-tax cash flow: $1,494/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): 16,170
• Household income: $76,505
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 590.0

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 0.63)
• Race & ethnicity: White 54% Hispanic / Latino 26% Two or more races 18% Black 9% Asian 6% Native American 3%
• Hispanic origin (detail): Mexican 2% Cuban 1%
• Common ancestry: Lithuanian 11% Armenian 2% Italian 1%
• Foreign-born: 24% · Canada, China, Vietnam
• Languages at home: 65% English-only · Spanish 20% Arabic 6% Other Indo-European 4%

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: ▼ -162.73%
• Current HPI: 184.7849
• 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

-14.5% since first listed

26 events — show timeline

• 2026-06-01 Sold (Public Records) $324,000 Public Records
• 2026-05-29 Sold (MLS) $324,000 GSREIN
• 2026-05-29 Sold (MLS) $324,000 AcadianaMLS
• 2026-05-10 Pending — AcadianaMLS
• 2026-05-10 Pending — GSREIN
• 2026-05-04 Listed $330,000 GSREIN
• 2026-05-04 Listed $330,000 AcadianaMLS
• 2026-04-26 Price Changed $330,000 AcadianaMLS
• 2026-04-26 Price Changed $330,000 GSREIN
• 2026-04-17 Price Changed $339,000 AcadianaMLS
• 2026-04-17 Price Changed $339,000 GSREIN
• 2026-03-02 Relisted — AcadianaMLS
• 2026-03-02 Price Changed $345,000 GSREIN
• 2026-02-27 Price Changed $345,000 AcadianaMLS
• 2025-11-03 Listed $359,900 AcadianaMLS
• 2025-08-07 Price Changed $359,900 AcadianaMLS
• 2025-08-07 Price Changed $359,900 GSREIN
• 2025-07-29 Listed $349,900 AcadianaMLS
• 2025-04-28 Price Changed $367,400 AcadianaMLS
• 2025-04-28 Price Changed $367,400 GSREIN
• 2025-03-10 Price Changed $368,900 AcadianaMLS
• 2025-03-03 Price Changed $368,900 GSREIN
• 2024-09-03 Listed $379,000 AcadianaMLS
• 2024-07-22 Price Changed $379,000 GSREIN
• 2024-07-05 Listed $379,000 AcadianaMLS
• 1991-11-01 Sold (Public Records) — Public Records

Property tax history

+4.1%/yr

Latest (2025): $3,804 · +0.2% YoY. Source: county tax records.