3916 Neyrey Dr · Metairie, LA 70002

$235,000

5 bd · 2.0 ba · 2,438 sqft · SingleFamily · 181 Days on market

Built 1955 6,660 sqft lot Est $436k · 46% under

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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 +21.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.3/10.0
• Livability +4.4/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property located in Metairie, between Veterans and W. Esplanade: 5 bedrooms & 2 baths: Owner converted garage and sunroom into bedrooms; Property does need some repairs, such as roof, sheetrock. Seller will not do any repairs, selling "As Is". Lots of potential. Property must be approved for a "Short Sale".

Key facts

• 6,660 sq ft lot
• Parking
• Built 1955

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Single-story; Slab foundation
• Construction: Brick and hardboard siding; Asphalt shingle roof; Built with slab foundation
• Exterior features: Covered patio/porch; City lot; Rectangular lot; Lot dimensions approximately 60' x 111'

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas heating; Central air conditioning
• Interior features: Total of 9 rooms; Hall bathroom updated in 2024; Average condition
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $235k).
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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 (-2.8%/yr); 121 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); 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• This rent runs 44% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $60k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $206,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 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 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.03% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.08%
• DSCR: 1.27
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $436,402
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3716 Simone Gardens Dr	0.17mi	4/2.0 (-1)	2,231 (-8%)	4mo	$250,000	$112	69
3616 Wanda Lynn Dr	0.19mi	4/3.5 (-1)	2,600 (+7%)	2mo	$465,000	$179	68
605 Jefferson Park Ave	0.28mi	4/2.0 (-1)	2,272 (-7%)	4mo	$210,000	$92	67
3912 Cleary Ave	0.31mi	4/3.5 (-1)	2,538 (+4%)	2mo	$535,000	$211	66
4600 Neyrey Dr	0.47mi	4/3.0 (-1)	2,388 (-2%)	4mo	$409,000	$171	62
4321 Cleary Ave Ave	0.39mi	4/2.5 (-1)	2,669 (+10%)	6mo	$435,000	$163	54
4624 Taft Park	0.56mi	4/2.5 (-1)	2,603 (+7%)	6mo	$375,000	$144	50
4008 Meadowdale St	0.52mi	5/3.0	2,768 (+14%)	0mo	$575,000	$208	49
4116 Hastings St	0.64mi	4/2.5 (-1)	2,204 (-10%)	2mo	$675,000	$306	46
4737 Carthage St	0.67mi	4/2.5 (-1)	2,680 (+10%)	1mo	$625,000	$233	45
3813 N Arnoult Rd	0.74mi	4/3.0 (-1)	2,258 (-7%)	1mo	$500,000	$221	44
4804 Chateau Dr	0.67mi	5/3.0	2,770 (+14%)	2mo	$495,999	$179	41

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: -12.2%
• Equity multiple: 0.57×
• Total profit: $-28,151
• Equity at exit: $35,039

10-year hold

• IRR: -8.4%
• Equity multiple: 0.55×
• Total profit: $-29,905
• Equity at exit: $20,319

Cash invested: $65,800 (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 70002

• Rents YoY: -2.8%
• Active inventory: 121
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,426 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$253 /mo · $3,039/yr
• Insurance: −$98
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $267

Break-even live

Break-even rent $2,089

Max offer price $235,000

Occupancy floor 84%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2508 Danny Park Metairie, LA	4.0	2.0	2000	$2,200	$1.10	23d	1	0.89mi
3717 Lilac Ln Metairie, LA	4.0	2.5	2308	$2,350	$1.02	23d	1	0.92mi
4002 Georgetown Dr Metairie, LA	4.0	2.5	1875	$1,800	$0.96	23d	1	1.00mi
3104 Clifford Dr Metairie, LA	4.0	2.0	2018	$2,700	$1.34	23d	1	1.07mi
4444 W Esplanade Ave Metairie, LA	4.0	2.0	2226	$2,600	$1.17	14d	1	1.11mi
4405 Laplace St Metairie, LA	4.0	2.5	2686	$2,800	$1.04	4d	1	1.13mi
4632 Ithaca St Metairie, LA	4.0	2.5	2860	$2,600	$0.91	23d	1	1.25mi

Listing history 13 events

1. 2026-05-22
   price $235,000 332-char remark

   Show marketing remark (332 chars)

   Property located in Metairie, between Veterans and W. Esplanade: 5 bedrooms & 2 baths: Owner converted garage and sunroom into bedrooms; Property does need some repairs, such as roof, sheetrock. Seller will not do any repairs, selling "As Is". Lots of potential. Property must be approved for a "Short Sale".

2. 2026-05-22
   price $235,000

   Show marketing remark (332 chars)

   Property located in Metairie, between Veterans and W. Esplanade: 5 bedrooms & 2 baths: Owner converted garage and sunroom into bedrooms; Property does need some repairs, such as roof, sheetrock. Seller will not do any repairs, selling "As Is". Lots of potential. Property must be approved for a "Short Sale".

3. 2026-03-06
   historical Active Under Contract
4. 2026-02-05
   status Pending 332-char remark

   Show marketing remark (332 chars)

   Property located in Metairie, between Veterans and W. Esplanade: 5 bedrooms & 2 baths: Owner converted garage and sunroom into bedrooms; Property does need some repairs, such as roof, sheetrock. Seller will not do any repairs, selling "As Is". Lots of potential. Property must be approved for a "Short Sale".

5. 2026-02-05
   status Pending

   Show marketing remark (332 chars)

   Property located in Metairie, between Veterans and W. Esplanade: 5 bedrooms & 2 baths: Owner converted garage and sunroom into bedrooms; Property does need some repairs, such as roof, sheetrock. Seller will not do any repairs, selling "As Is". Lots of potential. Property must be approved for a "Short Sale".

6. 2026-01-30
   status Active
7. 2026-01-24
   status Pending
8. 2026-01-19
   status Active
9. 2025-11-14
   historical Active Under Contract
10. 2025-10-24
    listed $295,000 Active 332-char remark

    Show marketing remark (332 chars)

    Property located in Metairie, between Veterans and W. Esplanade: 5 bedrooms & 2 baths: Owner converted garage and sunroom into bedrooms; Property does need some repairs, such as roof, sheetrock. Seller will not do any repairs, selling "As Is". Lots of potential. Property must be approved for a "Short Sale".

11. 2025-10-24
    listed $295,000 Active

    Show marketing remark (332 chars)

    Property located in Metairie, between Veterans and W. Esplanade: 5 bedrooms & 2 baths: Owner converted garage and sunroom into bedrooms; Property does need some repairs, such as roof, sheetrock. Seller will not do any repairs, selling "As Is". Lots of potential. Property must be approved for a "Short Sale".

12. 2007-02-21
    soldstatus $218,400
13. 2000-12-01
    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: $3,039 · $253/mo
• Projected year-2 tax: $3,039 · $253/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 X · 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: $29,115
• − Mortgage interest: −$13,164
• − Property taxes: −$3,039
• − Insurance: −$1,972
• − Repairs & maintenance: −$2,329
• − Management: −$2,329
• − Depreciation: −$6,836
• Taxable loss: −$555
• Est. tax savings @ 24.0%: +$133
• After-tax cash flow: $3,334/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): 19,426
• Household income: $65,436
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1269.0

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 0.59)
• Race & ethnicity: White 60% Black 16% Hispanic / Latino 15% Two or more races 10% Asian 6%
• Common ancestry: Lithuanian 9% Italian 3% Scotch-Irish 1%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 79% English-only · Spanish 11% Other Indo-European 3% Chinese 3%

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: ▼ -175.35%
• Current HPI: 196.8402
• Rent YoY: ▼ -2.82%
• 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

+7.6% since first listed

13 events — show timeline

• 2026-05-22 Price Changed $235,000 AcadianaMLS
• 2026-05-22 Price Changed $235,000 GSREIN
• 2026-03-06 Contingent — GSREIN
• 2026-02-05 Pending — AcadianaMLS
• 2026-02-05 Pending — GSREIN
• 2026-01-30 Relisted — GSREIN
• 2026-01-24 Pending — GSREIN
• 2026-01-19 Relisted — GSREIN
• 2025-11-14 Contingent — GSREIN
• 2025-10-24 Listed $295,000 GSREIN
• 2025-10-24 Listed $295,000 AcadianaMLS
• 2007-02-21 Sold (Public Records) $218,400 Public Records
• 2000-12-01 Sold (Public Records) — Public Records

Property tax history

+2.3%/yr

Latest (2025): $3,039 · +0.2% YoY. Source: county tax records.