1516 Aztec Ave #105 · Metairie, LA 70005

$105,000

1 bd · 1.0 ba · 530 sqft · Townhouse · 116 Days on market

Built 1981 827 sqft lot $198/sqft · 39% below area Est $171k · 39% under $247/mo HOA · 18% of rent ↓ 4% 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 +19.7/30.0
• ARV discount +15.0/15.0
• 1% rule +7.9/10.0
• DSCR +6.2/10.0
• Livability +4.4/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully renovated, low-maintenance one-bedroom, first-floor condo in the heart of Bucktown--just steps from the Lake Pontchartrain levee. This bright, open floor plan features modern electric appliances and stylish updates throughout, offering comfortable and convenient living. The unit has never flooded, and the current flood insurance policy is assumable for added peace of mind. An excellent investment opportunity, the condo has been tenant-occupied since 2021 and is currently leased on a month-to-month basis. Additional highlights include a brand-new water heater (replaced in 2026) and two assigned parking spaces located directly outside the unit. Enjoy an easy walk to levee-side restaurants, shops, and neighborhood amenities. The HOA covers water and building insurance. Ownership includes an undivided 5.32% interest in the condominium's common elements and underlying property.

Key facts

• First-floor condo
• Never flooded
• $247 HOA

Tags

• FIRST-FLOOR CONDO
• MODERN ELECTRIC APPLIANCES
• NEVER FLOODED
• BRAND-NEW WATER HEATER
• TWO ASSIGNED PARKING SPACES
• WALK TO LEVEE-SIDE RESTAURANTS

🏷️ Possibly a rental listed for sale. The $105,000 price doesn't fit this home's estimated sale value (~$171,270) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $105k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $96k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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: Rents soft (-0.3%/yr); 171 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 10y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $95,550 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
7. 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.
8. 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: 1.29% ✓
• Cap rate: 7.69%
• Cash-on-cash: 4.99%
• DSCR: 1.22
• GRM: 6.5

CMA / ARV

• ARV (median comp): $171,270
• List price: $105,000
• Delta: -38.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1516 Aztec Ave	0.00mi	1/1.0	548 (+3%)	6mo	$97,000	$177	90
1516 Aztec Ave #203	0.00mi	1/1.0	535 (+1%)	17mo	$90,000	$168	84

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: 0.56×
• Total profit: $-13,032
• Equity at exit: $15,656

10-year hold

• IRR: -10.9%
• Equity multiple: 0.46×
• Total profit: $-16,009
• Equity at exit: $9,078

Cash invested: $29,400 (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 70005

• Rents YoY: -0.3%
• Active inventory: 171
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,354 high
• Mortgage (P&I): −$551
• Tax from tax record: −$106 /mo · $1,267/yr
• Insurance: −$44
• HOA: −$247
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $122

Break-even live

Break-even rent $1,199

Max offer price $105,000

Occupancy floor 86%

Sensitivity live

Price	-10% $182	-5% $152	+0% $122	+5% $93	+10% $63
Rent	-10% $15	-5% $69	+0% $122	+5% $176	+10% $229
Rate	-1.0pp $175	-0.5pp $149	base $122	+0.5pp $95	+1.0pp $67

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 Metairie Hammond Hwy Metairie, LA	1.0–2.0	1.0	808	$2,000	$2.48	22d	4	0.37mi
420 Metairie Hammond Hwy Metairie, LA	1.0–2.0	1.0	808	$2,000	$2.48	24d	4	0.37mi
1508 Seminole Ave Unit 207 Metairie, LA	1.0	1.0	550	$905	$1.65	15d	1	0.42mi
1554 Orpheum Ave Unit 2 Metairie, LA	1.0	1.5	700	$1,050	$1.50	44d	1	0.67mi
112 Glenn St Unit G Metairie, LA	2.0	1.0	750	$1,275	$1.70	24d	1	0.67mi
115 W Esplanade Ave Unit 7 Metairie, LA	1.0	1.0	500	$1,000	$2.00	24d	1	0.70mi
115 W Esplanade Ave Unit 7 Metairie, LA	1.0	1.0	497	$1,000	$2.01	44d	1	0.70mi
213 Rosebud St Unit I Metairie, LA	1.0	1.0	382	$875	$2.29	24d	1	0.79mi
500 Lake Marina Ave #212 New Orleans, LA	1.0	1.0	676	$1,800	$2.66	4d	1	0.84mi
6650 Fleur De Lis Dr #5 New Orleans, LA	1.0	1.0	600	$1,100	$1.83	24d	1	0.95mi
301 Seattle St New Orleans, LA	2.0	1.0	660	$1,475	$2.23	22d	3	0.97mi
812 Martin Behrman Ave Unit A Metairie, LA	1.0	1.0	700	$1,250	$1.79	44d	1	0.99mi
6564 Fleur de Lis Dr New Orleans, LA	1.0	1.0	600	$1,050	$1.75	24d	1	1.00mi
6629 Fleur De Lis Dr Apt 6 New Orleans, LA	1.0	1.0	750	$1,150	$1.53	12d	1	1.00mi
800 Martin Behrman Ave Unit 203 Metairie, LA	1.0	1.0	520	$1,050	$2.02	44d	1	1.01mi
800 Martin Behrman Ave Unit 205 Metairie, LA	1.0	1.0	520	$1,000	$1.92	24d	1	1.02mi
1161 Lake Ave #120 Metairie, LA	1.0	1.0	750	$1,400	$1.87	44d	1	1.03mi
3004 9th St Unit 104 Metairie, LA	1.0	1.0	700	$1,000	$1.43	44d	1	1.18mi
3531 Ridgelake Dr Unit 3 Metairie, LA	2.0	1.0	638	$1,350	$2.12	45d	1	1.25mi
3531 Ridgelake Dr Unit 3 Metairie, LA	2.0	1.0	638	$1,350	$2.12	44d	1	1.25mi
3531 Ridgelake Dr Unit 3 Metairie, LA	2.0	1.0	685	$1,250	$1.82	24d	1	1.25mi
509 E William David Pkwy Unit A Metairie, LA	1.0	1.0	700	$1,650	$2.36	24d	1	1.39mi
325 Filmore Ave New Orleans, LA	2.0	1.0	738	$1,350	$1.83	24d	1	1.41mi
3301 W Esplanade Ave N Metairie, LA	1.0–3.0	1.0–2.0	931	$1,157	$1.24	5d	17	1.44mi
230 16th St New Orleans, LA	2.0	1.0	750	$1,875	$2.50	2d	1	1.46mi

HOA detail

• Monthly dues: $247 · $2,964/yr
• Likely covers: waterelectricinsuranceparking

Listing history 37 events

1. 2026-06-18
   days on market $105,000 Active 116 DOM
2. 2026-06-17
   days on market $105,000 Active 115 DOM
3. 2026-06-16
   days on market $105,000 Active 114 DOM
4. 2026-06-15
   days on market $105,000 Active 113 DOM
5. 2026-06-13
   days on market $105,000 Active 111 DOM
6. 2026-06-10
   days on market $105,000 Active 108 DOM
7. 2026-06-09
   days on market $105,000 Active 107 DOM
8. 2026-06-08
   days on market $105,000 Active 106 DOM
9. 2026-06-07
   pricedays on market $105,000 Active 105 DOM
10. 2026-06-03
    days on market $107,400 Active 101 DOM
11. 2026-06-02
    days on market $107,400 Active 100 DOM
12. 2026-06-01
    days on market $107,400 Active 99 DOM
13. 2026-05-31
    days on market $107,400 Active 98 DOM
14. 2026-05-01
    price $107,400 897-char remark

    Show marketing remark (908 chars)

    Beautifully renovated, low-maintenance one-bedroom, first-floor condo in the heart of Bucktown—just steps from the Lake Pontchartrain levee. This bright, open floor plan features modern electric appliances and stylish updates throughout, offering comfortable and convenient living. The unit has never flooded, and the current flood insurance policy is assumable for added peace of mind. An excellent investment opportunity, the condo has been tenant-occupied since 2021 and is currently leased on a month-to-month basis. Additional highlights include a brand-new water heater (replaced in 2026) and two assigned parking spaces located directly outside the unit. Enjoy an easy walk to levee-side restaurants, shops, and neighborhood amenities. The HOA covers water and building insurance. Ownership includes an undivided 5.32% interest in the condominium’s common elements and underlying property.

15. 2026-05-01
    price $107,400 908-char remark

    Show marketing remark (908 chars)

    Beautifully renovated, low-maintenance one-bedroom, first-floor condo in the heart of Bucktown—just steps from the Lake Pontchartrain levee. This bright, open floor plan features modern electric appliances and stylish updates throughout, offering comfortable and convenient living. The unit has never flooded, and the current flood insurance policy is assumable for added peace of mind. An excellent investment opportunity, the condo has been tenant-occupied since 2021 and is currently leased on a month-to-month basis. Additional highlights include a brand-new water heater (replaced in 2026) and two assigned parking spaces located directly outside the unit. Enjoy an easy walk to levee-side restaurants, shops, and neighborhood amenities. The HOA covers water and building insurance. Ownership includes an undivided 5.32% interest in the condominium’s common elements and underlying property.

16. 2026-04-15
    price $109,900 897-char remark

    Show marketing remark (908 chars)

    Beautifully renovated, low-maintenance one-bedroom, first-floor condo in the heart of Bucktown—just steps from the Lake Pontchartrain levee. This bright, open floor plan features modern electric appliances and stylish updates throughout, offering comfortable and convenient living. The unit has never flooded, and the current flood insurance policy is assumable for added peace of mind. An excellent investment opportunity, the condo has been tenant-occupied since 2021 and is currently leased on a month-to-month basis. Additional highlights include a brand-new water heater (replaced in 2026) and two assigned parking spaces located directly outside the unit. Enjoy an easy walk to levee-side restaurants, shops, and neighborhood amenities. The HOA covers water and building insurance. Ownership includes an undivided 5.32% interest in the condominium’s common elements and underlying property.

17. 2026-04-15
    price $109,900 908-char remark

    Show marketing remark (908 chars)

    Beautifully renovated, low-maintenance one-bedroom, first-floor condo in the heart of Bucktown—just steps from the Lake Pontchartrain levee. This bright, open floor plan features modern electric appliances and stylish updates throughout, offering comfortable and convenient living. The unit has never flooded, and the current flood insurance policy is assumable for added peace of mind. An excellent investment opportunity, the condo has been tenant-occupied since 2021 and is currently leased on a month-to-month basis. Additional highlights include a brand-new water heater (replaced in 2026) and two assigned parking spaces located directly outside the unit. Enjoy an easy walk to levee-side restaurants, shops, and neighborhood amenities. The HOA covers water and building insurance. Ownership includes an undivided 5.32% interest in the condominium’s common elements and underlying property.

18. 2026-04-08
    price $112,500 897-char remark

    Show marketing remark (908 chars)

    Beautifully renovated, low-maintenance one-bedroom, first-floor condo in the heart of Bucktown—just steps from the Lake Pontchartrain levee. This bright, open floor plan features modern electric appliances and stylish updates throughout, offering comfortable and convenient living. The unit has never flooded, and the current flood insurance policy is assumable for added peace of mind. An excellent investment opportunity, the condo has been tenant-occupied since 2021 and is currently leased on a month-to-month basis. Additional highlights include a brand-new water heater (replaced in 2026) and two assigned parking spaces located directly outside the unit. Enjoy an easy walk to levee-side restaurants, shops, and neighborhood amenities. The HOA covers water and building insurance. Ownership includes an undivided 5.32% interest in the condominium’s common elements and underlying property.

19. 2026-04-08
    price $112,500 908-char remark

    Show marketing remark (908 chars)

    Beautifully renovated, low-maintenance one-bedroom, first-floor condo in the heart of Bucktown—just steps from the Lake Pontchartrain levee. This bright, open floor plan features modern electric appliances and stylish updates throughout, offering comfortable and convenient living. The unit has never flooded, and the current flood insurance policy is assumable for added peace of mind. An excellent investment opportunity, the condo has been tenant-occupied since 2021 and is currently leased on a month-to-month basis. Additional highlights include a brand-new water heater (replaced in 2026) and two assigned parking spaces located directly outside the unit. Enjoy an easy walk to levee-side restaurants, shops, and neighborhood amenities. The HOA covers water and building insurance. Ownership includes an undivided 5.32% interest in the condominium’s common elements and underlying property.

20. 2026-02-23
    listed $114,999 Active 897-char remark

    Show marketing remark (897 chars)

    Beautifully renovated, low-maintenance one-bedroom, first-floor condo in the heart of Bucktown--just steps from the Lake Pontchartrain levee. This bright, open floor plan features modern electric appliances and stylish updates throughout, offering comfortable and convenient living. The unit has never flooded, and the current flood insurance policy is assumable for added peace of mind. An excellent investment opportunity, the condo has been tenant-occupied since 2021 and is currently leased on a month-to-month basis. Additional highlights include a brand-new water heater (replaced in 2026) and two assigned parking spaces located directly outside the unit. Enjoy an easy walk to levee-side restaurants, shops, and neighborhood amenities. The HOA covers water and building insurance. Ownership includes an undivided 5.32% interest in the condominium's common elements and underlying property.

21. 2026-02-18
    listed $114,999 Active 908-char remark

    Show marketing remark (908 chars)

    Beautifully renovated, low-maintenance one-bedroom, first-floor condo in the heart of Bucktown—just steps from the Lake Pontchartrain levee. This bright, open floor plan features modern electric appliances and stylish updates throughout, offering comfortable and convenient living. The unit has never flooded, and the current flood insurance policy is assumable for added peace of mind. An excellent investment opportunity, the condo has been tenant-occupied since 2021 and is currently leased on a month-to-month basis. Additional highlights include a brand-new water heater (replaced in 2026) and two assigned parking spaces located directly outside the unit. Enjoy an easy walk to levee-side restaurants, shops, and neighborhood amenities. The HOA covers water and building insurance. Ownership includes an undivided 5.32% interest in the condominium’s common elements and underlying property.

22. 2021-10-28
    soldstatus $105,000 Closed
23. 2021-10-28
    soldstatus $105,000
24. 2021-09-26
    status Pending
25. 2021-09-21
    status Active
26. 2021-09-14
    status Pending
27. 2021-08-27
    listed $110,000
28. 2021-08-27
    listed $110,000 Active
29. 2017-05-30
    historical
30. 2017-03-08
    listed $114,500 Active
31. 2017-03-08
    listed $114,500
32. 2017-02-15
    historical
33. 2016-10-14
    price $112,000
34. 2016-10-14
    status Active
35. 2016-10-13
    historical
36. 2016-04-12
    listed $115,000 Active
37. 2016-04-12
    listed $112,000

ⓘ 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: $1,267 · $106/mo
• Projected year-2 tax: $1,267 · $106/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: $16,243
• − Mortgage interest: −$5,882
• − Property taxes: −$1,267
• − Insurance: −$525
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − HOA: −$2,964
• − Depreciation: −$3,055
• Taxable loss: −$48
• Est. tax savings @ 24.0%: +$12
• After-tax cash flow: $1,480/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): 24,088
• Household income: $89,194
• Rent vs Own: 34.9% rent · 65.1% own
• Severe rent burden: 711.0

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: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 13% Two or more races 8% Asian 2% Native American 2% Black 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 21% Slovak 2% Iranian 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 8% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -371.32%
• Current HPI: 142.4955
• Rent YoY: ▼ -0.31%
• 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

-4.1% since first listed

24 events — show timeline

• 2026-05-01 Price Changed $107,400 AcadianaMLS
• 2026-05-01 Price Changed $107,400 GSREIN
• 2026-04-15 Price Changed $109,900 AcadianaMLS
• 2026-04-15 Price Changed $109,900 GSREIN
• 2026-04-08 Price Changed $112,500 AcadianaMLS
• 2026-04-08 Price Changed $112,500 GSREIN
• 2026-02-23 Listed $114,999 AcadianaMLS
• 2026-02-18 Listed $114,999 GSREIN
• 2021-10-28 Sold (Public Records) $105,000 Public Records
• 2021-10-28 Sold (MLS) $105,000 GSREIN
• 2021-09-26 Pending — GSREIN
• 2021-09-21 Relisted — GSREIN
• 2021-09-14 Pending — GSREIN
• 2021-08-27 Listed $110,000 GSREIN
• 2021-08-27 Listed $110,000 AcadianaMLS
• 2017-05-30 Listing Removed — GSREIN
• 2017-03-08 Listed $114,500 GSREIN
• 2017-03-08 Listed $114,500 AcadianaMLS
• 2017-02-15 Listing Removed — GSREIN
• 2016-10-14 Price Changed $112,000 GSREIN
• 2016-10-14 Relisted — GSREIN
• 2016-10-13 Listing Removed — GSREIN
• 2016-04-12 Listed $115,000 GSREIN
• 2016-04-12 Listed $112,000 AcadianaMLS

Property tax history

+4.3%/yr

Latest (2025): $1,267 · +0.2% YoY. Source: county tax records.