514 16 Monticello Ave · Jefferson, LA 70121

$249,000

6 bd · 4.0 ba · 1,581 sqft · MultiFamily · 163 Days on market

Built 1964 Fair condition 6,155 sqft lot $157/sqft · 22% below area Est $320k · 22% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Rent growth +3.8/5.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Charming 2 unit cottage in Old Jefferson just down the street from Oak St and all that it offers. Covered porch and a 1-car carport with shed. Larger owner's unit with approximately 1100 sq ft and a smaller income-producing unit with approximately 550 sq ft. Both units are occupied with long term tenants.

Key facts

• Covered porch
• Carport
• 6,155 sq ft lot

Tags

• COVERED PORCH
• CARPORT
• INCOME PRODUCING UNIT

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $249k. Condition is rated fair.
• This rent per unit runs 34% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Deal economics

• At list price, monthly cash flow is $966 ($12k/yr) — positive. Per door: $483/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $219k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 5.0% in Jefferson — 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 72/100 on livability (#42 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D, 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: Jefferson School (math 13% / reading 31%, grade F, #415 of 646 statewide, top 67%, 666 students, 61% FRL); Riverdale High School (math 36% / reading 52%, grade F, #62 of 265 statewide, top 23%, 1,019 students, 50% FRL).
• Market conditions: Rents rising fast (+5.1%/yr); 113 active listings in the ZIP; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).

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.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $70k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.

Recommended offer $219,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.37% ✓
• Cap rate: 10.95%
• Cash-on-cash: 16.63%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

• ARV (median comp): $320,137
• List price: $249,000
• Delta: -22.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9013-15 Green St	0.41mi	6/—	1,500 (-5%)	26mo	$189,000	$126	52
1811-13 Lowerline St	1.06mi	5/3.0 (-1)	1,550 (-2%)	13mo	$315,000	$203	42
8331 Nelson St	1.01mi	6/2.0	1,728 (+9%)	1mo	$239,000	$138	41
9013 15 Green St	0.67mi	6/4.0	1,500 (-5%)	26mo	$189,000	$126	40
2319 Audubon St	1.36mi	5/3.0 (-1)	1,530 (-3%)	16mo	$428,700	$280	37
8008 Belfast St	1.23mi	5/3.0 (-1)	1,571 (-1%)	26mo	$295,000	$188	35
2429 31 Joliet St	0.96mi	6/2.0	1,725 (+9%)	12mo	$95,000	$55	32
2540 42 Mistletoe St	1.01mi	5/2.0 (-1)	1,389 (-12%)	1mo	$147,293	$106	31
1900 02 Hollygrove St	0.52mi	6/4.0	1,824 (+15%)	28mo	$95,000	$52	30
8709 Pritchard Pl	1.22mi	5/2.0 (-1)	1,776 (+12%)	21mo	$85,000	$48	14
336-338 Hillary St	1.02mi	5/2.0 (-1)	1,753 (+11%)	32mo	$535,000	$305	14
7825 Sycamore St	1.03mi	6/2.0	1,859 (+18%)	26mo	$377,000	$203	12

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 · 5.1% rent growth · sell at horizon

5-year hold

• IRR: 10.1%
• Equity multiple: 1.41×
• Total profit: $28,564
• Equity at exit: $37,127

10-year hold

• IRR: 20.9%
• Equity multiple: 2.95×
• Total profit: $135,733
• Equity at exit: $21,529

Cash invested: $69,720 (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 →

Active competition Active MLS

• For sale now: 3 active
• Median asking: $249,000 ($157/sqft)
• Median days on market: 142 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +28.6% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70121

• Rents YoY: 5.1%
• Active inventory: 113
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $3,401 high
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$714
• Net cashflow: $966

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,400
Total (2 units)			$3,401

Break-even live

Break-even rent $2,178

Max offer price $249,000

Occupancy floor 67%

Sensitivity live

Price	-10% $1,138	-5% $1,052	+0% $966	+5% $880	+10% $794
Rent	-10% $697	-5% $832	+0% $966	+5% $1,100	+10% $1,235
Rate	-1.0pp $1,091	-0.5pp $1,029	base $966	+0.5pp $901	+1.0pp $836

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: $62,250
• Closing costs: $7,470
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8906 Plum St New Orleans, LA	3.0	2.0	2000	$2,800	$1.40	93d	1	0.12mi
1311 General Ogden St New Orleans, LA	2.0	1.0	730	$990	$1.36	73d	1	0.15mi
8634 Plum St New Orleans, LA	2.0	1.0	750	$1,400	$1.87	39d	1	0.18mi
1216 Leonidas St New Orleans, LA	2.0	1.0	1140	$1,850	$1.62	27d	1	0.20mi
8539 Freret St New Orleans, LA	2.0	2.5	1180	$2,600	$2.20	16d	1	0.21mi
8539 Freret St New Orleans, LA	2.0	2.5	1180	$2,800	$2.37	52d	1	0.21mi
8728 Jeannette St New Orleans, LA	3.0	2.0	1511	$1,995	$1.32	52d	1	0.26mi
1329 Leonidas St New Orleans, LA	2.0	1.0	842	$1,500	$1.78	32d	1	0.27mi
8943 Jeannette St New Orleans, LA	2.0	2.0	1040	$1,375	$1.32	61d	1	0.28mi
8526 Willow St New Orleans, LA	2.0	1.0	1056	$1,475	$1.40	73d	1	0.28mi
8526 Willow St New Orleans, LA	2.0	1.0	1056	$1,475	$1.40	20d	1	0.28mi
8416 Oak St Unit F New Orleans, LA	2.0	2.0	1109	$2,800	$2.52	64d	1	0.30mi
8416 Oak St New Orleans, LA	2.0	2.0	1223	$2,650	$2.17	93d	2	0.30mi
127 Addison St New Orleans, LA	2.0	1.0	800	$1,500	$1.88	93d	1	0.30mi
117 Addison St New Orleans, LA	2.0	1.5	1088	$1,350	$1.24	73d	1	0.30mi
1521 Eagle St New Orleans, LA	2.0	1.0	783	$1,695	$2.16	16d	1	0.31mi
1600 Monroe St Unit 1B New Orleans, LA	2.0	1.0	850	$1,550	$1.82	66d	1	0.35mi
1600 Monroe St Unit 2A New Orleans, LA	2.0	1.0	791	$1,675	$2.12	41d	1	0.35mi
1600 Monroe St Unit 1A New Orleans, LA	2.0	1.0	901	$1,675	$1.86	32d	1	0.35mi
8515 Jeannette St New Orleans, LA	2.0	2.0	1215	$2,000	$1.65	65d	1	0.36mi
1614 Leonidas St New Orleans, LA	3.0	2.0	1300	$2,150	$1.65	32d	1	0.40mi
1111 Dante St New Orleans, LA	3.0	2.5	1370	$2,850	$2.08	17d	1	0.40mi
8626 Green St New Orleans, LA	3.0	1.5	1450	$1,400	$0.97	41d	1	0.41mi
8635 Green St New Orleans, LA	3.0	1.0	950	$950	$1.00	64d	1	0.43mi
8609 Green St New Orleans, LA	3.0	2.0	1009	$1,800	$1.78	66d	1	0.43mi
8607 Green St New Orleans, LA	2.0	1.0	735	$1,300	$1.77	73d	1	0.44mi
8722 Hickory St Unit 8722 New Orleans, LA	3.0	2.0	1100	$1,450	$1.32	41d	1	0.46mi
1139 Dublin St New Orleans, LA	2.0	2.0	1550	$2,750	$1.77	32d	1	0.47mi
8220 Maple St Unit F New Orleans, LA	2.0	2.5	1300	$3,000	$2.31	61d	1	0.48mi
1526 Dante St New Orleans, LA	3.0	3.0	1446	$2,900	$2.01	41d	1	0.48mi
8927 Hickory St New Orleans, LA	2.0	1.0	1440	$1,500	$1.04	73d	1	0.48mi
1517 Dante St New Orleans, LA	3.0	1.0	1500	$1,700	$1.13	66d	1	0.50mi
1730 Joliet St New Orleans, LA	2.0	1.0	850	$1,300	$1.53	41d	1	0.51mi
815 Dublin St New Orleans, LA	2.0	1.0	1100	$1,600	$1.45	41d	1	0.51mi
1539 Dante St New Orleans, LA	3.0	2.0	2672	$3,500	$1.31	93d	1	0.51mi
1836 General Ogden St New Orleans, LA	3.0	2.0	1368	$1,675	$1.22	73d	1	0.52mi
1701 Cambronne St New Orleans, LA	2.0	1.0	900	$1,800	$2.00	73d	1	0.52mi
1739 Joliet St New Orleans, LA	2.0	2.0	1177	$2,000	$1.70	27d	1	0.53mi
8231 Birch St Unit B New Orleans, LA	2.0	1.0	800	$1,645	$2.06	27d	1	0.54mi
8231 Birch St Unit A New Orleans, LA	2.0	1.0	800	$1,645	$2.06	73d	1	0.54mi

Listing history 50 events

1. 2026-08-08
   days on market $249,000 Active 163 DOM
2. 2026-08-07
   days on market $249,000 Active 162 DOM
3. 2026-08-06
   days on market $249,000 Active 161 DOM
4. 2026-08-05
   days on market $249,000 Active 160 DOM
5. 2026-08-04
   days on market $249,000 Active 159 DOM
6. 2026-08-03
   days on market $249,000 Active 158 DOM
7. 2026-07-31
   days on market $249,000 Active 155 DOM
8. 2026-07-30
   days on market $249,000 Active 153 DOM
9. 2026-07-28
   days on market $249,000 Active 152 DOM
10. 2026-07-24
    days on market $249,000 Active 148 DOM
11. 2026-07-23
    days on market $249,000 Active 147 DOM
12. 2026-07-22
    days on market $249,000 Active 146 DOM
13. 2026-07-21
    days on market $249,000 Active 145 DOM
14. 2026-07-20
    days on market $249,000 Active 144 DOM
15. 2026-07-18
    days on market $249,000 Active 142 DOM
16. 2026-07-18
    days on market $249,000 Active 141 DOM
17. 2026-07-16
    days on market $249,000 Active 140 DOM
18. 2026-07-15
    days on market $249,000 Active 139 DOM
19. 2026-07-14
    days on market $249,000 Active 138 DOM
20. 2026-07-13
    days on market $249,000 Active 137 DOM
21. 2026-07-13
    days on market $249,000 Active 136 DOM
22. 2026-07-11
    days on market $249,000 Active 135 DOM
23. 2026-07-09
    days on market $249,000 Active 133 DOM
24. 2026-07-07
    days on market $249,000 Active 131 DOM
25. 2026-07-06
    days on market $249,000 Active 130 DOM
26. 2026-07-05
    days on market $249,000 Active 129 DOM
27. 2026-07-03
    days on market $249,000 Active 127 DOM
28. 2026-07-02
    days on market $249,000 Active 126 DOM
29. 2026-07-01
    days on market $249,000 Active 125 DOM
30. 2026-06-30
    days on market $249,000 Active 124 DOM
31. 2026-06-29
    days on market $249,000 Active 123 DOM
32. 2026-06-28
    days on market $249,000 Active 122 DOM
33. 2026-06-27
    days on market $249,000 Active 121 DOM
34. 2026-06-27
    days on market $249,000 Active 120 DOM
35. 2026-06-25
    days on market $249,000 Active 118 DOM
36. 2026-06-22
    days on market $249,000 Active 116 DOM
37. 2026-06-21
    days on market $249,000 Active 115 DOM
38. 2026-06-18
    days on market $249,000 Active 112 DOM
39. 2026-06-17
    days on market $249,000 Active 111 DOM
40. 2026-06-16
    days on market $249,000 Active 110 DOM
41. 2026-06-15
    days on market $249,000 Active 109 DOM
42. 2026-06-13
    days on market $249,000 Active 107 DOM
43. 2026-06-10
    days on market $249,000 Active 104 DOM
44. 2026-06-09
    days on market $249,000 Active 103 DOM
45. 2026-06-08
    days on market $249,000 Active 102 DOM
46. 2026-06-07
    days on market $249,000 Active 101 DOM
47. 2026-06-03
    days on market $249,000 Active 97 DOM
48. 2026-06-02
    days on market $249,000 Active 96 DOM
49. 2026-06-01
    days on market $249,000 Active 95 DOM
50. 2026-05-31
    days on market $249,000 Active 94 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $40,812
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$1,245
• − Repairs & maintenance: −$3,265
• − Management: −$3,265
• − Depreciation: −$7,244
• Taxable income: $8,111
• Est. tax owed @ 24.0%: −$1,947
• After-tax cash flow: $9,646/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab Est. rehab $39,525–$71,145 screening

This 2-unit property requires moderate renovations to improve its condition and increase its value. Focus on updating the kitchen and bathrooms, painting interior walls, and enhancing the landscaping.

Repairs flagged

• Major Kitchen appliances — Scattered and need replacement
• Major Bathroom fixtures — Worn and need replacement

Value-add opportunities

• Both Paint interior walls and trim — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace kitchen appliances — Modern appliances improve functionality and appeal ↑
• Both Replace bathroom fixtures — Upgraded fixtures increase functionality and value ↑
• Both Landscaping and curb appeal — Improved landscaping enhances curb appeal and property value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 33/100

Zoned Schools

Elementary Jefferson School F LA #415/646 Nat'l #32,000/41,679 High Riverdale High School F LA #62/265 Nat'l #7,320/17,239

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

B Composite livability gradescore 72/100

Livability — Jefferson

• Score: 72/100
• State rank: #42
• US rank: #6166

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jefferson, LA
• County: Jefferson Parish · 451,696 people
• City population: 10,558
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 10,558
• Household income: $59,562
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 10% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Black 19% Hispanic / Latino 13% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 2% Cuban 1%
• Common ancestry: Lithuanian 14% Slovak 2% Italian 1%
• Foreign-born: 8% · Canada, Jamaica, China
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 1% French/Haitian/Cajun 1%

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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: ▼ -134.66%
• Current HPI: 107.0611
• Rent YoY: ▲ 5.10%
• Metro: New Orleans-Metairie, LA
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

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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

+0.0% since first listed

2 events — show timeline

• 2026-02-26 Listed $249,000 GSREIN
• 2025-01-27 Price Changed $249,000 GSREIN