514 16 Monticello Ave · Jefferson, LA 70121

$249,000

6 bd · 4.0 ba · 1,581 sqft · MultiFamily · 115 Days on market

Built 1964 Fair condition 6,155 sqft lot $157/sqft · 23% below area Est $324k · 23% 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 +29.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Rent growth +3.8/5.0
• Livability +3.6/5.0
• Schools +2.5/10.0
• 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.

Deal economics

• At list price, monthly cash flow is $926 ($11k/yr) — positive. Per door: $463/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $227k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 4.5% 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.
• Market conditions: Rents rising fast (+5.1%/yr); 101 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% of comp listings sitting > 30 days — soft ceiling on asking rent; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• At $3,350/mo this rent would consume 67% of the median local household income ($60k/yr) (locally 593% 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.
• 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 115 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.

Recommended offer $226,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.35% ✓
• Cap rate: 10.75%
• Cash-on-cash: 15.93%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (median comp): $323,635
• List price: $249,000
• Delta: -23.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.1% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.37×
• Total profit: $25,888
• Equity at exit: $37,127

10-year hold

• IRR: 20.1%
• Equity multiple: 2.86×
• Total profit: $129,623
• 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 →

ZIP-level market 70121

• Rents YoY: 5.1%
• Active inventory: 101
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $3,350 high
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$704
• Net cashflow: $926

Break-even live

Break-even rent $2,178

Max offer price $249,000

Occupancy floor 67%

Sensitivity live

Price	-10% $1,098	-5% $1,012	+0% $926	+5% $840	+10% $754
Rent	-10% $661	-5% $793	+0% $926	+5% $1,058	+10% $1,190
Rate	-1.0pp $1,051	-0.5pp $989	base $926	+0.5pp $861	+1.0pp $796

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,350
Total (2 units)			$3,350

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
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1736 Pine St New Orleans, LA	5.0	2.0	1494	$4,500	$3.01	24d	1	1.05mi
1609 Broadway St New Orleans, LA	5.0	2.0	1776	$5,000	$2.82	44d	1	1.11mi
939 Broadway St New Orleans, LA	5.0	3.0	1900	$4,000	$2.11	4d	1	1.12mi
7011 Jeannette St Unit A New Orleans, LA	5.0	3.0	2200	$5,000	$2.27	44d	1	1.17mi
7015 Willow St New Orleans, LA	5.0	3.0	2000	$4,200	$2.10	44d	1	1.17mi
6321 S Prieur St New Orleans, LA	6.0	2.0	1900	$4,200	$2.21	44d	1	1.39mi
6326 S Johnson St Unit 1 New Orleans, LA	5.0	2.0	2013	$3,950	$1.96	44d	1	1.41mi
2818 Palmer Ave New Orleans, LA	5.0	2.0	1832	$4,900	$2.67	44d	1	1.47mi
2715 Palmer Ave New Orleans, LA	5.0	2.0	2184	$4,900	$2.24	44d	1	1.50mi

Listing history 16 events

1. 2026-06-21
   days on market $249,000 Active 115 DOM
2. 2026-06-18
   days on market $249,000 Active 112 DOM
3. 2026-06-17
   days on market $249,000 Active 111 DOM
4. 2026-06-16
   days on market $249,000 Active 110 DOM
5. 2026-06-15
   days on market $249,000 Active 109 DOM
6. 2026-06-13
   days on market $249,000 Active 107 DOM
7. 2026-06-10
   days on market $249,000 Active 104 DOM
8. 2026-06-09
   days on market $249,000 Active 103 DOM
9. 2026-06-08
   days on market $249,000 Active 102 DOM
10. 2026-06-07
    days on market $249,000 Active 101 DOM
11. 2026-06-03
    days on market $249,000 Active 97 DOM
12. 2026-06-02
    days on market $249,000 Active 96 DOM
13. 2026-06-01
    days on market $249,000 Active 95 DOM
14. 2026-05-31
    days on market $249,000 Active 94 DOM
15. 2026-02-26
    listed $249,000 Active 306-char remark

    Show marketing remark (306 chars)

    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.

16. 2025-01-27
    price $249,000

ⓘ 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: $40,200
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$1,245
• − Repairs & maintenance: −$3,216
• − Management: −$3,216
• − Depreciation: −$7,244
• Taxable income: $7,596
• Est. tax owed @ 24.0%: −$1,823
• After-tax cash flow: $9,285/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

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

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen appliances · Scattered and need replacement	Major	$15,000–50,000
Bathroom fixtures · Worn and need replacement	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• 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 ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — 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 · 426,999 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: 593.0

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: 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%

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

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