2204 Gallant Dr · Chalmette, LA 70043

$229,900

3 bd · 2.0 ba · 1,776 sqft · SingleFamily · 19 Days on market

Built 1968 6,098 sqft lot Est $268k · 14% 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 +20.1/30.0
• ARV discount +13.9/15.0
• DSCR +6.4/10.0
• Schools +5.0/10.0
• 1% rule +4.6/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3 bedroom, 2 bathroom home tucked away on a quiet cul-de-sac in an established neighborhood. This property offers a comfortable floor plan with spacious bedrooms, hard-surface flooring throughout, and a practical layout that works well for everyday living. The kitchen and living areas provide an easy flow, while the fully fenced backyard and patio create a great space for relaxing, entertaining, pets, or outdoor gatherings. Major updates include a roof and water heater replaced in 2023, giving buyers added peace of mind. Conveniently located with easy access to nearby shopping, dining, work routes, and city amenities while still offering a neighborhood feel. Located in Flood Zone X. A great opportunity for buyers looking for a move-in ready home in a quiet setting!

Key facts

• Easy access
• Major updates
• Cul-de-sac

Tags

• CUL-DE-SAC
• HARD-SURFACE FLOORING
• FULLY FENCED BACKYARD
• PATIO
• MAJOR UPDATES
• EASY ACCESS

Property features AI

Finance

• HOA & community: Common grounds/area

Exterior

• Parking: Attached garage with two spaces
• Utilities: Public water; Public sewer
• Home design: Single-story; Very good condition
• Construction: Brick construction; Shingle roof; Slab foundation; Built with very good condition
• Exterior features: Fenced yard; Concrete covered patio/porch; City lot; Rectangular lot; Lot dimensions approximately 29 x 37 x 87 x 60 x 110

Interior

• Kitchen: Dishwasher; Oven; Range
• Bedrooms: Total rooms: 7
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fan(s); Wood-burning fireplace
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (4.4% below list).
• Recommended offer: $220k (4.4% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 5.4% in Chalmette — 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 65/100 on livability (#137 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime F, amenities F, commute F.
• Market conditions: Rents rising (+3.1%/yr); 213 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 112 units permitted in St. Bernard Parish in 2024 (0 in 5+ unit buildings).
• At $2,197/mo this rent would consume 48% of the median local household income ($55k/yr) (locally 881% 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 $7k of value loss. Plan a longer hold.
• St. Bernard County population projected at +89% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 6 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.
• Current owner paid $130k; list at $230k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,710 (4.4% below list)

Questions for the listing agent

1. Built in 1968 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.96% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.29%
• DSCR: 1.24
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $268,176
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2700 Creely Dr	0.25mi	3/2.0	1,720 (-3%)	4mo	$269,000	$156	80
2204 Congressman Hebert Dr	0.32mi	3/2.0	1,831 (+3%)	1mo	$319,000	$174	79
67 W Claiborne Sq	0.47mi	3/2.0	1,728 (-3%)	5mo	$285,000	$165	69
300 Parish Dr	0.56mi	3/2.0	1,822 (+3%)	2mo	$239,900	$132	68
2329 Congressman Hebert Dr	0.45mi	3/2.0	1,606 (-10%)	4mo	$299,900	$187	60
8416 Colonel Dr	0.38mi	3/2.0	1,560 (-12%)	3mo	$205,000	$131	60
2400 Creely Dr	0.14mi	4/2.0 (+1)	1,525 (-14%)	9mo	$115,000	$75	58
59 E Carolina Dr	0.72mi	3/2.5	1,700 (-4%)	7mo	$227,500	$134	52
61 Cochrane Dr	0.55mi	4/2.0 (+1)	1,912 (+8%)	9mo	$260,000	$136	49
120 Livingston Ave	0.74mi	3/2.0	1,559 (-12%)	1mo	$235,000	$151	44
8829 Livingston Ave	0.72mi	3/2.0	1,556 (-12%)	4mo	$222,000	$143	42
200 Perrin Dr	0.73mi	4/2.5 (+1)	1,956 (+10%)	8mo	$335,000	$171	36

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 · 3.11% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.64×
• Total profit: $-23,163
• Equity at exit: $34,279

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-1,367
• Equity at exit: $19,878

Cash invested: $64,372 (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 70043

• Rents YoY: 3.1%
• Active inventory: 213
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,197 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$150 /mo · $1,803/yr
• Insurance: −$96
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $218

Break-even live

Break-even rent $1,922

Max offer price $229,900

Occupancy floor 85%

Sensitivity live

Price	-10% $348	-5% $283	+0% $218	+5% $153	+10% $87
Rent	-10% $44	-5% $131	+0% $218	+5% $304	+10% $391
Rate	-1.0pp $333	-0.5pp $276	base $218	+0.5pp $158	+1.0pp $97

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
114 8th St Chalmette, LA	3.0	1.0	1275	$1,695	$1.33	45d	1	0.28mi
32 Old Hickory St Chalmette, LA	4.0	2.0	1379	$1,850	$1.34	24d	1	0.83mi
309 Fawn Dr Arabi, LA	3.0	2.5	1745	$2,500	$1.43	2d	1	0.89mi
1239 Center St Arabi, LA	4.0	2.0	1922	$3,500	$1.82	4d	1	0.91mi
1511 Schnell Dr Arabi, LA	4.0	3.0	1700	$1,850	$1.09	4d	1	0.98mi
438 Friscoville Ave Arabi, LA	3.0	2.0	1500	$3,200	$2.13	4d	1	1.04mi
1529 Schnell Dr Arabi, LA	3.0	2.5	1736	$2,600	$1.50	2d	1	1.04mi
424 Chinchilla Dr Arabi, LA	3.0	2.0	1735	$3,500	$2.02	17d	1	1.05mi
6900 Royal St Arabi, LA	3.0	2.0	1579	$5,888	$3.73	4d	1	1.07mi
2707 Jackson Blvd Chalmette, LA	3.0	3.0	1733	$2,300	$1.33	45d	1	1.08mi
2707 Jackson Blvd Chalmette, LA	3.0	2.5	1733	$2,300	$1.33	24d	1	1.08mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	3d	1	1.08mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	4d	1	1.08mi
7532 Patricia St Arabi, LA	4.0	3.0	2099	$2,200	$1.05	45d	1	1.09mi
8600 Patricia St Chalmette, LA	3.0	2.0	1255	$1,550	$1.24	24d	1	1.15mi
103 Danny Dr New Orleans, LA	4.0	2.0	2040	$2,400	$1.18	24d	1	1.27mi
8413 Benjamin Dr Chalmette, LA	3.0	2.0	1800	$2,300	$1.28	4d	1	1.38mi
3606 Pakenham Dr Unit 3606 Chalmette, LA	3.0	2.0	1400	$1,800	$1.29	13d	1	1.39mi
2012 Esteban St Arabi, LA	3.0	2.0	1466	$2,500	$1.71	11d	1	1.46mi

Listing history 12 events

1. 2026-06-21
   days on market $229,900 Active 19 DOM
2. 2026-06-18
   days on market $229,900 Active 16 DOM
3. 2026-06-17
   days on market $229,900 Active 15 DOM
4. 2026-06-16
   days on market $229,900 Active 14 DOM
5. 2026-06-15
   days on market $229,900 Active 13 DOM
6. 2026-06-13
   days on market $229,900 Active 11 DOM
7. 2026-06-10
   days on market $229,900 Active 8 DOM
8. 2026-06-09
   days on market $229,900 Active 7 DOM
9. 2026-06-08
   days on market $229,900 Active 6 DOM
10. 2026-06-07
    days on market $229,900 Active 5 DOM
11. 2026-06-03
    remarks 699-char remark
12. 2026-06-03
    listed $229,900 Active 1 DOM

ⓘ 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: $1,803 · $150/mo
• Projected year-2 tax: $1,803 · $150/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 (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,365
• − Mortgage interest: −$12,878
• − Property taxes: −$1,803
• − Insurance: −$1,947
• − Repairs & maintenance: −$2,109
• − Management: −$2,109
• − Depreciation: −$6,688
• Taxable loss: −$1,169
• Est. tax savings @ 24.0%: +$281
• After-tax cash flow: $2,892/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)

No district data.

Livability — Chalmette

• Score: 65/100
• State rank: #137
• US rank: #12500

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety A User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chalmette, LA
• County: Saint Bernard Parish · 22,638 people
• City population: 22,638
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 22,638
• Household income: $55,068
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 881.0

Population outlook (St. Bernard County) Hauer SSP2

• Today (2025): 66,513 people
• By 2030: 77,768 · +16.9%
• By 2040: 101,296 · +52.3%
• By 2050: 125,770 · +89.1%
• By 2075: 188,160 · +182.9%
• By 2100: 239,339 · +259.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 55% Black 26% Hispanic / Latino 12% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 13% Slovak 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 8% Arabic 1% Vietnamese 1%

Political lean MEDSL · St. Bernard

• 2024 margin: Strong R (+29.3) · D 34.5% · R 63.8% · Other 1.7%
• 2008→2024 swing: +16.1pp toward D · 2008: -45.4pp · 2024: -29.3pp
• All cycles: 2024: R+29.3 2020: R+28.5 2016: R+33.4 2012: R+24.7 2008: R+45.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.77%
• Current HPI: 194.8123
• Rent YoY: ▲ 3.11%
• 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

+76.8% since first listed

14 events — show timeline

• 2026-06-02 Listed $229,900 GSREIN
• 2026-06-02 Listed $229,900 AcadianaMLS
• 2025-10-31 Listed $230,000 AcadianaMLS
• 2025-08-21 Rental Removed $1,750 GSREIN
• 2025-08-09 Listed for Rent $1,750 GSREIN
• 2025-07-14 Price Changed $230,000 AcadianaMLS
• 2025-07-14 Price Changed $230,000 GSREIN
• 2025-04-30 Listed $239,000 AcadianaMLS
• 2025-03-24 Price Changed $239,000 AcadianaMLS
• 2025-03-24 Price Changed $239,000 GSREIN
• 2024-12-04 Price Changed $249,000 AcadianaMLS
• 2024-12-04 Price Changed $249,000 GSREIN
• 2024-10-28 Listed $259,000 AcadianaMLS
• 2005-07-25 Sold (Public Records) $130,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $1,803 · -0.7% YoY. Source: county tax records.