522-524 Homewood Pl · Westwego, LA 70094

$185,000

6 bd · 2.0 ba · 2,100 sqft · MultiFamily · 2 Days on market

Built 1966 Est $218k · 15% 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 +14.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• 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

Calling all Investors Great income producing property, 3 Bedrooms, 1 Bath each unit.

Key facts

• 3 parking spots
• Built 1966
• Listed 2 days

Property features AI

Finance

• Financial info: Two rental units currently: Unit 522 and Unit 524; Each unit reported 1,050 sq ft (area) and current/actual rent listed as $1,000 per unit; Tenants pay electricity, gas, and water

Exterior

• Parking: Driveway with three or more parking spaces
• Utilities: Public water; Public sewer
• Home design: One-story building; Duplex (2-unit property)
• Construction: Brick construction; Shingle roof; Slab foundation; .12-acre lot
• Exterior features: Permeable paving; City lot with a rectangular shape

Interior

• Bedrooms: Two units each with 3 bedrooms (Units 522 and 524)
• Bathrooms: Two full bathrooms total (one full bathroom in each unit)
• Heating & cooling: Window unit heating; Window unit cooling
• Interior features: Average condition
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $615/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Cap rate 14.3% vs local median 6.5% in Westwego — 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 68/100 on livability (#97 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: schools C-, crime D, amenities 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: Rents soft (-0.8%/yr); 186 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• At $3,014/mo this rent would consume 67% of the median local household income ($54k/yr) (locally 1457% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $52k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 22y 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 $110k; list at $185k implies a 68% gain — meaningful room to come down on a strong offer.

Recommended offer $185,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.63% ✓
• Cap rate: 14.27%
• Cash-on-cash: 28.49%
• DSCR: 2.27
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $218,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
452-454 Westwood Dr	0.51mi	6/2.0	1,832 (-13%)	12mo	$190,000	$104	45

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 1.76×
• Total profit: $39,480
• Equity at exit: $27,584

10-year hold

• IRR: 25.7%
• Equity multiple: 2.95×
• Total profit: $100,963
• Equity at exit: $15,995

Cash invested: $51,800 (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 70094

• Rents YoY: -0.8%
• Active inventory: 186
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $3,014 high
• Mortgage (P&I): −$970
• Tax from tax record: −$104 /mo · $1,249/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$633
• Net cashflow: $1,230

Break-even live

Break-even rent $1,457

Max offer price $185,000

Occupancy floor 54%

Sensitivity live

Price	-10% $1,334	-5% $1,282	+0% $1,230	+5% $1,177	+10% $1,125
Rent	-10% $992	-5% $1,111	+0% $1,230	+5% $1,349	+10% $1,468
Rate	-1.0pp $1,323	-0.5pp $1,277	base $1,230	+0.5pp $1,182	+1.0pp $1,133

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,014
Total (2 units)			$3,014

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7804 Britt St Westwego, LA	5.0	2.0	1512	$1,800	$1.19	44d	1	1.26mi

Listing history 3 events

1. 2026-06-18
   days on market $185,000 Active 2 DOM
2. 2026-06-16
   remarks 84-char remark

   Show marketing remark (84 chars)

   Calling all Investors Great income producing property, 3 Bedrooms, 1 Bath each unit.

3. 2026-06-16
   listed $185,000 Active 1 DOM

   Show marketing remark (84 chars)

   Calling all Investors Great income producing property, 3 Bedrooms, 1 Bath each unit.

ⓘ 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: $1,249 · $104/mo
• Projected year-2 tax: $1,249 · $104/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: $36,168
• − Mortgage interest: −$10,363
• − Property taxes: −$1,249
• − Insurance: −$925
• − Repairs & maintenance: −$2,893
• − Management: −$2,893
• − Depreciation: −$5,382
• Taxable income: $12,463
• Est. tax owed @ 24.0%: −$2,991
• After-tax cash flow: $11,766/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 — Westwego

• Score: 68/100
• State rank: #97
• US rank: #9851

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westwego, LA
• County: Jefferson Parish · 426,999 people
• City population: 32,130
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 32,130
• Household income: $53,597
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 1457.0

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 0.65)
• Race & ethnicity: Black 46% White 36% Hispanic / Latino 13% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Dominican 2%
• Common ancestry: Lithuanian 9% Scottish 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 86% English-only · Spanish 11% Vietnamese 2% 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: ▼ -111.56%
• Current HPI: 102.9992
• Rent YoY: ▼ -0.80%
• 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

+19.4% since first listed

10 events — show timeline

• 2026-06-16 Listed $185,000 GSREIN
• 2026-06-16 Listed $185,000 AcadianaMLS
• 2021-06-29 Sold (Public Records) $132,500 Public Records
• 2021-06-29 Sold (Public Records) $110,000 Public Records
• 2021-05-05 Listed $160,000 AcadianaMLS
• 2020-02-13 Sold (Public Records) $450,000 Public Records
• 2004-06-25 Sold (MLS) $147,000 GSREIN
• 2004-06-01 Sold (Public Records) $130,000 Public Records
• 2004-05-18 Listed $155,000 GSREIN
• 2004-05-18 Listed $155,000 AcadianaMLS

Property tax history

+0.3%/yr

Latest (2025): $1,249 · -0.2% YoY. Source: county tax records.