812 Martin Behrman Ave Unit D · Metairie, LA 70005

$105,000

1 bd · 1.0 ba · 700 sqft · Townhouse · 49 Days on market

Built 1975 1,067 sqft lot $150/sqft · at area comps Est $108k · at est. $300/mo HOA · 23% of rent

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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 +17.1/30.0
• ARV discount +8.9/15.0
• 1% rule +7.5/10.0
• DSCR +5.3/10.0
• 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

LOVELY condo at an AMAZING price in METAIRIE awaits you!...This WELL-MAINTAINED 1 bedroom, 1 bathroom downstairs unit features an OPEN-CONCEPT layout with a LARGE living room and COMFORTABLE breakfast area...BEAUTIFUL tile plank flooring throughout...The unit includes a washer and dryer and a HUGE storage closet...Additional highlights include OFF-STREET parking and a convenient location near shopping, restaurants, and I-10 and close to the Metairie parade route!...Don't miss this opportunity--SCHEDULE your PRIVATE showing today!

Key facts

• Washer and dryer
• Convenient location
• Off-street parking

Tags

• OPEN-CONCEPT LAYOUT
• TILE PLANK FLOORING
• WASHER AND DRYER
• HUGE STORAGE CLOSET
• OFF-STREET PARKING
• CONVENIENT LOCATION

Property features AI

Finance

• Other: Property is part of a 16-unit building; Pets allowed: cats and dogs (no pet restrictions noted)
• HOA & community: Association fee covers common areas, gas, and water; Association fee listed as $300; Community common grounds/area

Exterior

• Parking: Off-street parking; Parking lot available
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Condo; 1 story (unit); 2 total stories (building); Shingle roof; Very good condition; Entry on slab foundation
• Construction: Brick construction; Slab foundation
• Exterior features: City lot; Common grounds/area; Smoke detector(s)

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fan(s); Cable TV
• Laundry & utility: In-unit laundry; Washer hookup; Dryer hookup

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 $73 ($875/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: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 41% 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).
• This rent is only 18% of the median local income ($89k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 49 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 25y 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.
• Current owner paid $70k; list at $105k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $101,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.25% ✓
• Cap rate: 7.13%
• Cash-on-cash: 2.98%
• DSCR: 1.13
• GRM: 6.6

CMA / ARV

• ARV (median comp): $108,457
• List price: $105,000
• Delta: -3.19%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
812 Martin Behrman Ave Unit O	0.00mi	1/1.0	700 (0%)	10mo	$98,000	$140	92
1161 Lake Ave #323	0.45mi	1/1.0	750 (+7%)	10mo	$75,000	$100	59
1161 Lake Ave #116	0.45mi	1/1.0	800 (+14%)	3mo	$40,000	$50	53
1161 Lake Ave #101	0.45mi	1/1.0	780 (+11%)	15mo	$110,000	$141	48
1161 Lake Ave #216	0.45mi	1/1.0	800 (+14%)	24mo	$107,500	$134	35

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: -15.9%
• Equity multiple: 0.45×
• Total profit: $-16,059
• Equity at exit: $15,656

10-year hold

• IRR: -16.5%
• Equity multiple: 0.24×
• Total profit: $-22,229
• 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: 6.6×

Monthly cashflow live

• Estimated rent: $1,316 high
• Mortgage (P&I): −$551
• Tax from tax record: −$73 /mo · $872/yr
• Insurance: −$44
• HOA: −$300
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $73

Break-even live

Break-even rent $1,224

Max offer price $105,000

Occupancy floor 89%

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 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
812 Martin Behrman Ave Unit A Metairie, LA	1.0	1.0	700	$1,250	$1.79	43d	1	0.03mi
800 Martin Behrman Ave Unit 203 Metairie, LA	1.0	1.0	520	$1,050	$2.02	43d	1	0.05mi
800 Martin Behrman Ave Unit 205 Metairie, LA	1.0	1.0	520	$1,000	$1.92	23d	1	0.05mi
1161 Lake Ave #120 Metairie, LA	1.0	1.0	750	$1,400	$1.87	43d	1	0.43mi
509 E William David Pkwy Unit A Metairie, LA	1.0	1.0	700	$1,650	$2.36	23d	1	0.45mi
213 Rosebud St Unit I Metairie, LA	1.0	1.0	382	$875	$2.29	23d	1	0.54mi
506 Nursery Ave Metairie, LA	2.0	1.0	725	$1,500	$2.07	4d	1	0.71mi
115 W Esplanade Ave Unit 7 Metairie, LA	1.0	1.0	497	$1,000	$2.01	43d	1	0.75mi
115 W Esplanade Ave Unit 7 Metairie, LA	1.0	1.0	500	$1,000	$2.00	23d	1	0.75mi
230 16th St New Orleans, LA	2.0	1.0	750	$1,875	$2.50	2d	1	0.79mi
112 Glenn St Unit G Metairie, LA	2.0	1.0	750	$1,275	$1.70	23d	1	0.83mi
6564 Fleur de Lis Dr New Orleans, LA	1.0	1.0	600	$1,050	$1.75	23d	1	0.87mi
1554 Orpheum Ave Unit 2 Metairie, LA	1.0	1.5	700	$1,050	$1.50	43d	1	0.88mi
1611 Hesiod St Apt 2 Metairie, LA	1.0	1.0	500	$995	$1.99	43d	1	0.91mi
6650 Fleur De Lis Dr #5 New Orleans, LA	1.0	1.0	600	$1,100	$1.83	23d	1	0.93mi
301 Seattle St New Orleans, LA	2.0	1.0	660	$1,475	$2.23	21d	3	0.93mi
6629 Fleur De Lis Dr Apt 6 New Orleans, LA	1.0	1.0	750	$1,150	$1.53	11d	1	0.96mi
505 Lake Ave Unit 3 Metairie, LA	1.0	1.0	585	$1,465	$2.50	4d	1	0.98mi
1508 Seminole Ave Unit 207 Metairie, LA	1.0	1.0	550	$905	$1.65	14d	1	0.99mi
420 Metairie Hammond Hwy Metairie, LA	1.0–2.0	1.0	808	$2,000	$2.48	21d	4	1.02mi
420 Metairie Hammond Hwy Metairie, LA	1.0–2.0	1.0	808	$2,000	$2.48	23d	4	1.02mi
117 Elmeer Ave Metairie, LA	1.0	1.0	640	$1,999	$3.12	43d	1	1.12mi
132 Nursery Ave Metairie, LA	1.0	1.0	564	$1,500	$2.66	43d	1	1.16mi
614 Metairie Rd Unit 12 Metairie, LA	1.0	1.0	500	$1,400	$2.80	43d	1	1.23mi
500 Lake Marina Ave #212 New Orleans, LA	1.0	1.0	676	$1,800	$2.66	3d	1	1.30mi
2511 Metairie Lawn Dr #215 Metairie, LA	1.0	1.0	689	$1,600	$2.32	43d	1	1.32mi
325 Filmore Ave New Orleans, LA	2.0	1.0	738	$1,350	$1.83	23d	1	1.33mi
3901 N I 10 Service Rd E Unit C322 Metairie, LA	1.0	1.0	616	$995	$1.62	23d	1	1.39mi
3531 Ridgelake Dr Unit 3 Metairie, LA	2.0	1.0	685	$1,250	$1.82	23d	1	1.44mi
3531 Ridgelake Dr Unit 3 Metairie, LA	2.0	1.0	638	$1,350	$2.12	43d	1	1.44mi
3531 Ridgelake Dr Unit 3 Metairie, LA	2.0	1.0	638	$1,350	$2.12	44d	1	1.44mi
3004 9th St Unit 104 Metairie, LA	1.0	1.0	700	$1,000	$1.43	43d	1	1.46mi

HOA detail

• Monthly dues: $300 · $3,600/yr

Listing history 30 events

1. 2026-06-18
   days on market $105,000 Active 49 DOM
2. 2026-06-17
   days on market $105,000 Active 48 DOM
3. 2026-06-16
   days on market $105,000 Active 47 DOM
4. 2026-06-15
   days on market $105,000 Active 46 DOM
5. 2026-06-13
   days on market $105,000 Active 44 DOM
6. 2026-06-10
   days on market $105,000 Active 41 DOM
7. 2026-06-09
   days on market $105,000 Active 40 DOM
8. 2026-06-08
   days on market $105,000 Active 39 DOM
9. 2026-06-07
   days on market $105,000 Active 38 DOM
10. 2026-06-03
    days on market $105,000 Active 34 DOM
11. 2026-06-02
    days on market $105,000 Active 33 DOM
12. 2026-06-01
    days on market $105,000 Active 32 DOM
13. 2026-05-31
    days on market $105,000 Active 31 DOM
14. 2026-04-30
    listed $105,000 Active 535-char remark

    Show marketing remark (535 chars)

    LOVELY condo at an AMAZING price in METAIRIE awaits you!...This WELL-MAINTAINED 1 bedroom, 1 bathroom downstairs unit features an OPEN-CONCEPT layout with a LARGE living room and COMFORTABLE breakfast area...BEAUTIFUL tile plank flooring throughout...The unit includes a washer and dryer and a HUGE storage closet...Additional highlights include OFF-STREET parking and a convenient location near shopping, restaurants, and I-10 and close to the Metairie parade route!...Don't miss this opportunity--SCHEDULE your PRIVATE showing today!

15. 2026-04-30
    listed $105,000 Active 563-char remark

    Show marketing remark (535 chars)

    LOVELY condo at an AMAZING price in METAIRIE awaits you!...This WELL-MAINTAINED 1 bedroom, 1 bathroom downstairs unit features an OPEN-CONCEPT layout with a LARGE living room and COMFORTABLE breakfast area...BEAUTIFUL tile plank flooring throughout...The unit includes a washer and dryer and a HUGE storage closet...Additional highlights include OFF-STREET parking and a convenient location near shopping, restaurants, and I-10 and close to the Metairie parade route!...Don't miss this opportunity--SCHEDULE your PRIVATE showing today!

16. 2023-11-06
    historical $1,200
17. 2023-09-15
    price $1,200
18. 2023-09-05
    price $1,100
19. 2023-08-29
    price $1,200
20. 2023-08-24
    listed
21. 2002-12-01
    soldstatus $69,900
22. 2002-10-11
    soldstatus $69,900
23. 2002-09-16
    listed $69,900
24. 2002-09-16
    listed $69,900
25. 2001-12-20
    soldstatus $69,900
26. 2001-11-01
    soldstatus $73,500
27. 2001-08-23
    listed $69,900
28. 2001-08-23
    listed $69,900
29. 2001-08-23
    listed $73,500
30. 2001-08-23
    listed $73,500

ⓘ 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: $872 · $73/mo
• Projected year-2 tax: $872 · $73/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: $15,797
• − Mortgage interest: −$5,882
• − Property taxes: −$872
• − Insurance: −$525
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − HOA: −$3,600
• − Depreciation: −$3,055
• Taxable loss: −$664
• Est. tax savings @ 24.0%: +$159
• After-tax cash flow: $1,034/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

+50.2% since first listed

17 events — show timeline

• 2026-04-30 Listed $105,000 GSREIN
• 2026-04-30 Listed $105,000 AcadianaMLS
• 2023-11-06 Rental Removed $1,200 TURBOTENANT
• 2023-09-15 Price Changed $1,200 TURBOTENANT
• 2023-09-05 Price Changed $1,100 TURBOTENANT
• 2023-08-29 Price Changed $1,200 TURBOTENANT
• 2023-08-24 Listed for Rent — TURBOTENANT
• 2002-12-01 Sold (Public Records) $69,900 Public Records
• 2002-10-11 Sold (MLS) $69,900 GSREIN
• 2002-09-16 Listed $69,900 GSREIN
• 2002-09-16 Listed $69,900 AcadianaMLS
• 2001-12-20 Sold (MLS) $69,900 GSREIN
• 2001-11-01 Sold (MLS) $73,500 GSREIN
• 2001-08-23 Listed $73,500 GSREIN
• 2001-08-23 Listed $73,500 AcadianaMLS
• 2001-08-23 Listed $69,900 GSREIN
• 2001-08-23 Listed $69,900 AcadianaMLS

Property tax history

-0.9%/yr

Latest (2025): $872 · +0.2% YoY. Source: county tax records.