3309 St Marie Dr · Meraux, LA 70075

$250,000

3 bd · 2.0 ba · 1,450 sqft · SingleFamily · 62 Days on market

Built 1994 $172/sqft · 18% below area Est $306k · 18% under $4/mo HOA

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +10.0/30.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't let this one pass you by! This 3-bedroom, 2-bathroom home is situated on a spacious corner double lot in the desirable Lexington neighborhood of Meraux. Located within the Joseph Davies school district, a practical floor plan, and a covered back patio with ample outdoor space. Just minutes from New Orleans!

Key facts

• Corner double lot
• Covered back patio
• Outdoor space

Tags

• CORNER DOUBLE LOT
• COVERED BACK PATIO
• OUTDOOR SPACE
• JOSEPH DAVIES SCHOOL DISTRICT

Property features AI

Finance

• Other: Property condition listed as excellent
• Financial info: No investor or income/expense details provided
• HOA & community: Annual association fee of $50

Exterior

• Parking: Driveway
• Security: Not specified
• Utilities: Public water; Public sewer
• Home design: Single-story; Brick construction; Shingle roof; Built on a slab foundation
• Construction: Brick exterior; Shingle roof; Slab foundation
• Exterior features: Corner lot; City lot; Oversized lot; Lot dimensions approximately 100 x 110

Interior

• Kitchen: Appliances not specified
• Bedrooms: Not specified
• Flooring: Not specified
• Bathrooms: 2 full bathrooms
• Heating & cooling: Has heating; Has cooling
• Interior features: Excellent overall condition; 5 total rooms
• Laundry & utility: Washer/dryer information not specified

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-217 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (15.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (28.1% below list).
• Recommended offer: $180k (28.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#152 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: crime D, amenities F, commute F.
• Market conditions: 64 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 112 units permitted in St. Bernard Parish in 2024 (0 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 $8k 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 62 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 32y 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 $4k; list at $250k implies a 5852% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,690 (28.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is D 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.72% ✗
• Cap rate: 5.57%
• Cash-on-cash: -2.58%
• DSCR: 0.89
• GRM: 11.6

CMA / ARV

• ARV (median comp): $306,381
• List price: $250,000
• Delta: -18.40%
• 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
3216 Van Cleave Dr	0.21mi	3/2.0	1,406 (-3%)	10mo	$229,500	$163	77
4409 E Genie St	0.20mi	3/2.0	1,420 (-2%)	13mo	$234,900	$165	76
3405 Hazel Dr	0.06mi	3/2.0	1,380 (-5%)	17mo	$202,000	$146	75
3228 Van Cleave Dr	0.20mi	3/2.0	1,485 (+2%)	15mo	$230,000	$155	74
3113 Saint Marie Dr	0.16mi	3/2.0	1,362 (-6%)	16mo	$211,000	$155	69
2825 Saint Marie Dr	0.33mi	3/2.0	1,554 (+7%)	12mo	$210,000	$135	63
2716 Mayflower Dr	0.44mi	3/2.0	1,588 (+10%)	2mo	$260,000	$164	62
4020 Najolia St	0.56mi	3/2.0	1,380 (-5%)	7mo	$195,876	$142	60
2717 Blomquist St	0.52mi	3/1.0	1,382 (-5%)	10mo	$103,000	$75	56
4100 Najolia St	0.54mi	3/2.0	1,370 (-6%)	12mo	$219,900	$161	55
4120 Najolia St	0.50mi	3/2.0	1,564 (+8%)	21mo	$263,000	$168	46
2500 Lawrence Ln	0.67mi	3/2.0	1,655 (+14%)	11mo	$150,259	$91	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.6%
• Equity multiple: 0.22×
• Total profit: $-54,372
• Equity at exit: $37,276

10-year hold

• IRR: -16.9%
• Equity multiple: 0.07×
• Total profit: $-65,275
• Equity at exit: $21,615

Cash invested: $70,000 (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 70075

• Home prices YoY: -18.3%
• Active inventory: 64
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,797 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$151 /mo · $1,813/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$4
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $-217

Break-even live

Break-even rent $2,072

Max offer price $211,633

Occupancy floor —

Sensitivity live

Price	-10% $-76	-5% $-146	+0% $-217	+5% $-288	+10% $-359
Rent	-10% $-359	-5% $-288	+0% $-217	+5% $-146	+10% $-75
Rate	-1.0pp $-91	-0.5pp $-154	base $-217	+0.5pp $-282	+1.0pp $-348

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2709 Munster Blvd Meraux, LA	3.0	2.0	1411	$1,900	$1.35	25d	1	1.07mi
2004 Webster St Meraux, LA	3.0	2.0	1400	$1,750	$1.25	19d	1	1.07mi
2408 Francis St Violet, LA	2.0	2.0	1350	$1,650	$1.22	45d	1	1.33mi
10002 Claiborne St Violet, LA	3.0	2.0	1568	$1,875	$1.20	45d	1	1.41mi

HOA detail

• Monthly dues: $4 · $48/yr

Listing history 25 events

1. 2026-06-21
   days on market $250,000 Active 62 DOM
2. 2026-06-18
   days on market $250,000 Active 59 DOM
3. 2026-06-17
   days on market $250,000 Active 58 DOM
4. 2026-06-16
   days on market $250,000 Active 57 DOM
5. 2026-06-15
   days on market $250,000 Active 56 DOM
6. 2026-06-13
   days on market $250,000 Active 54 DOM
7. 2026-06-10
   days on market $250,000 Active 51 DOM
8. 2026-06-09
   days on market $250,000 Active 50 DOM
9. 2026-06-08
   days on market $250,000 Active 49 DOM
10. 2026-06-07
    days on market $250,000 Active 48 DOM
11. 2026-06-03
    days on market $250,000 Active 44 DOM
12. 2026-06-02
    days on market $250,000 Active 43 DOM
13. 2026-06-01
    days on market $250,000 Active 42 DOM
14. 2026-05-31
    days on market $250,000 Active 41 DOM
15. 2026-04-20
    listed $250,000 Active 320-char remark

    Show marketing remark (314 chars)

    Don't let this one pass you by! This 3-bedroom, 2-bathroom home is situated on a spacious corner double lot in the desirable Lexington neighborhood of Meraux. Located within the Joseph Davies school district, a practical floor plan, and a covered back patio with ample outdoor space. Just minutes from New Orleans!

16. 2026-04-20
    listed $250,000 Active 314-char remark

    Show marketing remark (314 chars)

    Don't let this one pass you by! This 3-bedroom, 2-bathroom home is situated on a spacious corner double lot in the desirable Lexington neighborhood of Meraux. Located within the Joseph Davies school district, a practical floor plan, and a covered back patio with ample outdoor space. Just minutes from New Orleans!

17. 2025-11-04
    price $252,000
18. 2025-11-04
    price $252,000
19. 2025-09-04
    listed $260,000 Active
20. 2012-02-02
    soldstatus $4,200
21. 2006-11-14
    soldstatus $30,000
22. 1994-11-15
    soldstatus $86,500
23. 1994-11-04
    soldstatus $86,500
24. 1994-08-17
    listed $88,200
25. 1994-08-17
    listed $88,200

ⓘ 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: $1,813 · $151/mo
• Projected year-2 tax: $1,813 · $151/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) · 60% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,563
• − Mortgage interest: −$14,004
• − Property taxes: −$1,813
• − Insurance: −$2,048
• − Repairs & maintenance: −$1,725
• − Management: −$1,725
• − HOA: −$48
• − Depreciation: −$7,273
• Taxable loss: −$7,072
• Est. tax savings @ 24.0%: +$1,697
• After-tax cash flow: $-909/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 — Meraux

• Score: 65/100
• State rank: #152
• US rank: #13001

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Meraux, LA
• City population: 5,349
• Population (ZIP): 5,349

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: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 14% Black 10% Two or more races 10% Asian 5%
• Common ancestry: Lithuanian 16% Scottish 2% Portuguese 1%
• Foreign-born: 3% · Canada, Vietnam, China
• Languages at home: 89% English-only · Spanish 4% Vietnamese 4% Chinese 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: ▼ -42.56%
• Current HPI: 190.054
• Rent YoY: —
• Metro: —
• 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

+183.4% since first listed

11 events — show timeline

• 2026-04-20 Listed $250,000 AcadianaMLS
• 2026-04-20 Listed $250,000 GSREIN
• 2025-11-04 Price Changed $252,000 AcadianaMLS
• 2025-11-04 Price Changed $252,000 GSREIN
• 2025-09-04 Listed $260,000 AcadianaMLS
• 2012-02-02 Sold (Public Records) $4,200 Public Records
• 2006-11-14 Sold (Public Records) $30,000 Public Records
• 1994-11-15 Sold (Public Records) $86,500 Public Records
• 1994-11-04 Sold (MLS) $86,500 GSREIN
• 1994-08-17 Listed $88,200 AcadianaMLS
• 1994-08-17 Listed $88,200 GSREIN

Property tax history

+1.5%/yr

Latest (2025): $1,813 · +7.3% YoY. Source: county tax records.