2316 Hero St · Gretna, LA 70053

$50,000

3 bd · 1.5 ba · 1,280 sqft · SingleFamily · 129 Days on market

Built 1962 $39/sqft · 75% below area ↓ 10% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Investors/Renovators: 3Bedroom/1Bath single-family property requiring a full renovation. Electrical, water, and gas are off. Property is being sold as-is; seller will make no repairs. A signed Hold Harmless form (attached) must be submitted to the listing agent prior to showings.

Key facts

• Parking
• Built 1962
• Listed 129 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $985 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 29.9% vs local median 5.1% in Gretna — 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 70/100 on livability (#58 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, schools B+; Watch: crime F, employment D-.
• 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: 113 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• At $1,677/mo this rent would consume 50% of the median local household income ($40k/yr) (locally 1911% 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 $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $4k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 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 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 3.35% ✓
• Cap rate: 29.94%
• Cash-on-cash: 84.44%
• DSCR: 4.76
• GRM: 2.5

CMA / ARV

• ARV (median comp): $197,546
• List price: $50,000
• Delta: -74.69%
• 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
2444 Huey P. Long Ave	0.26mi	3/2.0	1,266 (-1%)	1mo	$239,000	$189	83
2035 Huey P. Long Ave	0.34mi	3/2.0	1,266 (-1%)	1mo	$235,000	$186	79
2442 Huey P Long Ave	0.26mi	3/2.0	1,266 (-1%)	8mo	$195,000	$154	78
1061 Price Dr	0.64mi	3/1.5	1,312 (+2%)	6mo	$170,000	$130	61
1105 Beechwood Dr	0.51mi	3/2.0	1,370 (+7%)	3mo	$229,000	$167	60
1020 Beechwood Dr	0.60mi	3/2.0	1,212 (-5%)	3mo	$150,000	$124	59
1077 Marvin Ct	0.69mi	3/1.5	1,320 (+3%)	6mo	$199,900	$151	58
3144 Claire Ave	0.71mi	3/1.0	1,323 (+3%)	4mo	$134,830	$102	56
1048 Price Dr	0.66mi	3/1.5	1,372 (+7%)	12mo	$182,000	$133	47
1312 Maplewood Dr	0.68mi	4/1.5 (+1)	1,331 (+4%)	13mo	$199,000	$150	46
1309 Dogwood Dr	0.70mi	3/2.0	1,377 (+8%)	13mo	$183,000	$133	42
3037 Hero Dr	0.57mi	3/1.0	1,097 (-14%)	13mo	$167,000	$152	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 84.9%
• Equity multiple: 4.90×
• Total profit: $54,666
• Equity at exit: $7,455

10-year hold

• IRR: 88.1%
• Equity multiple: 10.18×
• Total profit: $128,486
• Equity at exit: $4,323

Cash invested: $14,000 (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 70053

• Active inventory: 113
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,677 high
• Mortgage (P&I): −$262
• Tax from tax record: −$57 /mo · $679/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $985

Break-even live

Break-even rent $430

Max offer price $50,000

Occupancy floor 36%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2504 Claire Ave Gretna, LA	2.0	2.0	1032	$1,600	$1.55	43d	1	0.13mi
2310 Stafford St Gretna, LA	4.0	2.0	1530	$2,050	$1.34	23d	1	0.16mi
9 Gerard Ct Gretna, LA	3.0	1.5	1550	$1,600	$1.03	43d	1	0.19mi
1124 Tallow Tree Ln #20 Harvey, LA	2.0	1.5	1020	$1,150	$1.13	3d	1	0.20mi
1013 Manhattan Blvd Harvey, LA	1.0–2.0	1.0–1.5	837	$1,789	$2.14	1d	10	0.35mi
1157 Beechwood Dr Harvey, LA	2.0	2.0	1219	$1,600	$1.31	23d	1	0.47mi
1145 Warren Dr Harvey, LA	4.0	2.0	1315	$1,750	$1.33	4d	1	0.57mi
2205 Argyll St Harvey, LA	3.0	2.0	1100	$1,750	$1.59	21d	1	0.81mi
1104 Huey P Long Ave Gretna, LA	2.0	1.0	1140	$1,800	$1.58	23d	1	0.84mi
1029 Dolhonde St Gretna, LA	2.0	1.0	1100	$1,600	$1.45	43d	1	0.85mi
1122 10th St Gretna, LA	2.0	1.0	973	$1,700	$1.75	4d	1	0.86mi
1840 Mathis Ave Harvey, LA	3.0	2.0	1200	$1,800	$1.50	43d	1	0.92mi
2407 Florence St Harvey, LA	2.0	2.0	945	$1,700	$1.80	23d	1	0.92mi
1204 Amelia St Gretna, LA	2.0	1.0	950	$1,250	$1.32	14d	1	0.93mi
822 Gulf Dr Gretna, LA	2.0	1.0	900	$1,300	$1.44	14d	1	0.96mi
1499 Central Park Blvd Harvey, LA	1.0–3.0	1.0–2.0	1002	$2,195	$2.19	3d	18	0.98mi
1117 Whitney Ave Gretna, LA	1.0–3.0	1.0–2.0	951	$1,489	$1.57	2d	16	1.03mi
532 Chalmette St Harvey, LA	3.0	1.0	1224	$1,450	$1.18	3d	1	1.06mi
700 Derbigny St Gretna, LA	2.0	1.5	1064	$1,300	$1.22	23d	1	1.07mi
1784 Carol Sue Ave Gretna, LA	1.0–3.0	1.0–1.5	850	$1,035	$1.22	43d	1	1.09mi
1625 Cooper Rd Unit D Terrytown, LA	2.0	1.5	1200	$1,300	$1.08	43d	1	1.13mi
2201 Manhattan Blvd Harvey, LA	1.0–2.0	1.0–2.0	780	$1,349	$1.73	1d	27	1.13mi
1629 Cooper Rd Unit B Terrytown, LA	2.0	1.5	1200	$1,300	$1.08	43d	1	1.13mi
1629 Gary Ct Unit B Terrytown, LA	2.0	1.5	1200	$1,300	$1.08	43d	1	1.16mi
1645 Dogwood Dr Harvey, LA	4.0	1.0	1185	$1,800	$1.52	23d	1	1.19mi
23 New England Ct Gretna, LA	3.0	1.5	1200	$1,600	$1.33	23d	1	1.21mi
1511a Kings Rd Harvey, LA	2.0	1.5	1000	$1,600	$1.60	43d	1	1.21mi
2110 Willow St Unit C Harvey, LA	2.0	1.0	975	$1,155	$1.18	43d	1	1.22mi
433 Olive Ave Harvey, LA	3.0	1.0	1104	$1,600	$1.45	23d	1	1.23mi
429 Olive Ave Harvey, LA	3.0	1.0	1067	$1,500	$1.41	23d	1	1.23mi
1661 Alexander Ct Gretna, LA	2.0	1.5	1350	$1,295	$0.96	43d	1	1.24mi
1665 Alexander Ct Gretna, LA	2.0	1.5	1350	$1,295	$0.96	43d	1	1.25mi
1849 Redwood Dr Harvey, LA	3.0	2.0	1600	$1,900	$1.19	23d	1	1.26mi
1849 Redwood Dr Harvey, LA	3.0	2.0	1600	$1,900	$1.19	43d	1	1.26mi
612 Fried St Gretna, LA	3.0	2.0	1250	$1,600	$1.28	43d	1	1.30mi
2331 Justin Ln Unit Justin Harvey, LA	2.0	1.5	1384	$1,552	$1.12	43d	1	1.30mi
1805 Redwood Dr Harvey, LA	3.0	2.0	1270	$1,850	$1.46	21d	1	1.30mi
601 4th St Unit D Gretna, LA	2.0	1.0	987	$1,250	$1.27	43d	1	1.31mi
526 Brown Ave Harvey, LA	2.0	1.0	903	$1,350	$1.50	23d	1	1.33mi
2700 Whitney Ave Harvey, LA	3.0	1.0–2.0	844	$1,538	$1.82	2d	11	1.40mi

Listing history 22 events

1. 2026-06-18
   days on market $50,000 Active 129 DOM
2. 2026-06-17
   days on market $50,000 Active 128 DOM
3. 2026-06-16
   days on market $50,000 Active 127 DOM
4. 2026-06-15
   days on market $50,000 Active 126 DOM
5. 2026-06-13
   days on market $50,000 Active 124 DOM
6. 2026-06-10
   days on market $50,000 Active 121 DOM
7. 2026-06-09
   days on market $50,000 Active 120 DOM
8. 2026-06-08
   days on market $50,000 Active 119 DOM
9. 2026-06-07
   days on market $50,000 Active 118 DOM
10. 2026-06-03
    days on market $50,000 Active 114 DOM
11. 2026-06-02
    days on market $50,000 Active 113 DOM
12. 2026-06-01
    pricedays on market $50,000 Active 112 DOM
13. 2026-05-31
    days on market $54,000 Active 111 DOM
14. 2026-02-08
    listed $54,000 Active 290-char remark

    Show marketing remark (290 chars)

    Attention Investors/Renovators: 3Bedroom/1Bath single-family property requiring a full renovation. Electrical, water, and gas are off. Property is being sold as-is; seller will make no repairs. A signed Hold Harmless form (attached) must be submitted to the listing agent prior to showings.

15. 2026-02-08
    listed $54,000 Active 290-char remark

    Show marketing remark (290 chars)

    Attention Investors/Renovators: 3Bedroom/1Bath single-family property requiring a full renovation. Electrical, water, and gas are off. Property is being sold as-is; seller will make no repairs. A signed Hold Harmless form (attached) must be submitted to the listing agent prior to showings.

16. 2023-01-27
    soldstatus $52,000
17. 2022-04-06
    soldstatus $50,000
18. 2022-04-05
    soldstatus $50,000 Closed
19. 2022-03-14
    status Pending
20. 2022-03-08
    listed $60,000 Active
21. 2022-03-08
    listed $60,000
22. 1995-11-01
    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: $679 · $57/mo
• Projected year-2 tax: $679 · $57/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $20,123
• − Mortgage interest: −$2,801
• − Property taxes: −$679
• − Insurance: −$250
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − Depreciation: −$1,455
• Taxable income: $11,719
• Est. tax owed @ 24.0%: −$2,813
• After-tax cash flow: $9,009/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 — Gretna

• Score: 70/100
• State rank: #58
• US rank: #7679

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gretna, LA
• County: Jefferson Parish · 426,999 people
• City population: 56,969
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 16,621
• Household income: $39,950
• Rent vs Own: 53.4% rent · 46.6% own
• Severe rent burden: 1911.0

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 0.70)
• Race & ethnicity: White 36% Black 34% Hispanic / Latino 23% Two or more races 15% Asian 2%
• Hispanic origin (detail): Mexican 4% Cuban 2%
• Common ancestry: Lithuanian 7% Iranian 1% Slovak 1%
• Foreign-born: 19% · Canada, Vietnam, China
• Languages at home: 76% English-only · Spanish 20% Vietnamese 1% German/W. Germanic 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: ▼ -115.90%
• Current HPI: 121.765
• Rent YoY: —
• 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

-10.0% since first listed

9 events — show timeline

• 2026-02-08 Listed $54,000 AcadianaMLS
• 2026-02-08 Listed $54,000 GSREIN
• 2023-01-27 Sold (Public Records) $52,000 Public Records
• 2022-04-06 Sold (Public Records) $50,000 Public Records
• 2022-04-05 Sold (MLS) $50,000 GSREIN
• 2022-03-14 Pending — GSREIN
• 2022-03-08 Listed $60,000 AcadianaMLS
• 2022-03-08 Listed $60,000 GSREIN
• 1995-11-01 Sold (Public Records) — Public Records

Property tax history

-4.5%/yr

Latest (2025): $679 · -0.2% YoY. Source: county tax records.