500 Urbandale St

Marrero, LA 70072

$162,000B

10 bd · 4.0 ba · 3,040 sqft · Built 1964 · Townhouse · Active · 166 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,069/mo
• Mortgage (P&I): −$850
• Tax + insurance: −$252
• HOA: −$0
• Vac / Maint / Mgmt: −$434
• Net cashflow: $532/mo
• Annual: $6,388/yr
• Cap rate: 10.24%
• Cash-on-cash: 14.08%
• DSCR: 1.63
• 1% rule: 1.28%
• Cash to close: $45,360

Investor read

• This is a 10-bed/4.0-bath townhouse listed at $162k.
• At list price, monthly cash flow is $532 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $162k).
• It's been on market 166 days — a 12% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $143k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#104 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.
• 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: Ray St. Pierre Academy For Advanced Studies (math 82% / reading 82%, grade A+, #9 of 646 statewide, top 1%, 336 students, 26% FRL); Stella Worley Middle School (math 7% / reading 19%, grade F, #189 of 218 statewide, top 87%, 470 students, 80% FRL); John Ehret High School (math 19% / reading 27%, grade F, #169 of 265 statewide, top 64%, 1,579 students, 66% FRL).
• Market conditions: Rents rising (+1.1%/yr); 299 active listings in the ZIP; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• 4 sale attempts; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $162k implies a 710% gain — meaningful room to come down on a strong offer.
• Cap rate 10.2% vs local median 6.0% in Marrero — 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.
• At $2,069/mo this rent would consume 45% of the median local household income ($55k/yr) (locally 1807% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 166 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.