362 West Ave

Harahan, LA 70123

$329,000D-

4 bd · 3.0 ba · 2,050 sqft · Built 1960 · SingleFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,261/mo
• Mortgage (P&I): −$1,725
• Tax + insurance: −$275
• HOA: −$0
• Vac / Maint / Mgmt: −$475
• Net cashflow: $-214/mo
• Annual: $-2,567/yr
• Cap rate: 5.51%
• Cash-on-cash: -2.79%
• DSCR: 0.88
• 1% rule: 0.69%
• Cash to close: $92,120

Investor read

• This is a 4-bed/3.0-bath single-family listed at $329k.
• At list price, monthly cash flow is $-214 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $291k (11.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (31.3% below list).
• It's been on market 38 days — a 3% lower offer ($319k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $226k (31.3% below list) — sets the bar for 1% rule.
• 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.
• Location reads 74/100 on livability (#27 in LA, #4,830 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: amenities F, commute F.
• 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.
• Zoned schools: Harahan School (math 29% / reading 47%, grade F, #242 of 646 statewide, top 38%, 471 students, 60% FRL); Riverdale High School (math 36% / reading 52%, grade F, #62 of 265 statewide, top 23%, 1,019 students, 50% FRL).
• Zoned-school proficiency averages 41% at this address vs 29% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Jefferson Parish average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 162 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).
• 4 sale attempts 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 $63k; list at $329k implies a 422% gain — meaningful room to come down on a strong offer.
• Cap rate 5.5% vs local median 4.3% in Harahan — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 32% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.