2918 20 Packenham Dr · Chalmette, LA 70043

$215,000

4 bd · 2.0 ba · 1,700 sqft · MultiFamily · 192 Days on market

Built 1983 $126/sqft · at area comps Est $211k · at est. ↓ 4% 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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +6.7/15.0
• Schools +5.0/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investors!!! Don't miss the opportunity to owner occupy. Live on one side and let the other side pay the mortgage. This move in ready double won't last.

Key facts

• 2 parking spots
• Built 1983
• Listed 192 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 5.5% in Chalmette — 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 65/100 on livability (#137 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime F, amenities F, commute F.
• Market conditions: Rents rising (+3.1%/yr); 209 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 112 units permitted in St. Bernard Parish in 2024 (0 in 5+ unit buildings).
• At $2,741/mo this rent would consume 60% of the median local household income ($55k/yr) (locally 881% 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.
• 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 192 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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: 1.27% ✓
• Cap rate: 10.15%
• Cash-on-cash: 13.79%
• DSCR: 1.61
• GRM: 6.5

CMA / ARV

• ARV (median comp): $211,050
• List price: $215,000
• Delta: 1.87%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
74-76 Phillip Ct	0.39mi	4/2.0	1,920 (+13%)	1mo	$240,000	$125	59
3817 19 Juno Dr	0.67mi	4/2.0	1,700 (0%)	14mo	$255,000	$150	58
2200 02 Delille St	0.62mi	4/2.0	1,620 (-5%)	10mo	$185,000	$114	55
8512 14 Valor Dr	0.57mi	4/2.0	1,933 (+14%)	11mo	$250,000	$129	41
422 24 W Genie St	0.54mi	4/2.0	1,543 (-9%)	22mo	$223,300	$145	41

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 · 3.11% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.71×
• Total profit: $-17,353
• Equity at exit: $32,057

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $9,085
• Equity at exit: $18,589

Cash invested: $60,200 (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 70043

• Rents YoY: 3.1%
• Active inventory: 209
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $2,741 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$257 /mo · $3,080/yr
• Insurance: −$90
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $265

Break-even live

Break-even rent $2,405

Max offer price $215,000

Occupancy floor 85%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,740
Total (2 units)			$2,741

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2707 Jackson Blvd Chalmette, LA	3.0	3.0	1733	$2,300	$1.33	44d	1	0.18mi
2707 Jackson Blvd Chalmette, LA	3.0	2.5	1733	$2,300	$1.33	24d	1	0.18mi
3400 Montesquieu St Unit 1-B Chalmette, LA	3.0	2.5	1372	$2,550	$1.86	2d	1	0.43mi
32 Old Hickory St Chalmette, LA	4.0	2.0	1379	$1,850	$1.34	24d	1	0.47mi
3507 Sinclair St Chalmette, LA	3.0	2.0	1186	$1,800	$1.52	10d	1	0.48mi
3606 Pakenham Dr Unit 3606 Chalmette, LA	3.0	2.0	1400	$1,800	$1.29	12d	1	0.49mi
3617 Park Blvd Chalmette, LA	3.0	2.0	1090	$1,850	$1.70	20d	1	0.54mi
3617 Park Blvd Chalmette, LA	3.0	2.0	1090	$1,850	$1.70	44d	1	0.54mi
8600 Patricia St Chalmette, LA	3.0	2.0	1255	$1,550	$1.24	24d	1	0.56mi
3108 Tournefort St Chalmette, LA	3.0	2.0	1399	$1,750	$1.25	3d	1	0.65mi
9101 Virtue St Unit 9101 Chalmette, LA	3.0	2.0	1100	$1,690	$1.54	3d	1	0.68mi
3108 Laplace St Chalmette, LA	3.0	2.5	1390	$1,650	$1.19	44d	1	0.72mi
3106 Laplace St Chalmette, LA	3.0	2.5	1390	$1,650	$1.19	44d	1	0.74mi
2518 Delambert St Chalmette, LA	3.0	2.0	1617	$1,825	$1.13	44d	1	0.82mi
114 8th St Chalmette, LA	3.0	1.0	1275	$1,695	$1.33	44d	1	0.83mi
226 E Casa Calvo St Chalmette, LA	3.0	2.0	1330	$1,900	$1.43	44d	1	0.86mi
3711 Tournefort St Chalmette, LA	3.0	2.0	1250	$1,850	$1.48	3d	1	0.89mi
2029 W Beauregard St Chalmette, LA	3.0	2.0	1176	$2,200	$1.87	17d	1	0.92mi
511 E Genie St Chalmette, LA	3.0	2.0	1100	$1,500	$1.36	2d	1	0.96mi
8413 Benjamin Dr Chalmette, LA	3.0	2.0	1800	$2,300	$1.28	3d	1	0.99mi
3321 Plaza Dr Chalmette, LA	3.0	2.0	1400	$1,650	$1.18	10d	1	1.07mi
2429 Octavia Dr Chalmette, LA	3.0	2.0	1700	$1,575	$0.93	24d	1	1.16mi
2431 Octavia Dr Chalmette, LA	3.0	2.0	1100	$1,499	$1.36	44d	1	1.16mi
3708 Veronica Dr Chalmette, LA	3.0	2.0	1818	$2,550	$1.40	2d	1	1.30mi
2708 Volpe Dr Chalmette, LA	3.0	2.0	1556	$2,300	$1.48	21d	1	1.37mi
3012 Volpe Dr Chalmette, LA	3.0	2.0	1812	$2,500	$1.38	44d	1	1.37mi
2228 Riverland Dr Chalmette, LA	3.0	1.0	1300	$1,800	$1.38	3d	1	1.41mi
310 Lynx Dr Arabi, LA	3.0	2.0	1050	$1,775	$1.69	24d	1	1.47mi
424 Chinchilla Dr Arabi, LA	3.0	2.0	1735	$3,500	$2.02	16d	1	1.47mi
309 Fawn Dr Arabi, LA	3.0	2.5	1745	$2,500	$1.43	2d	1	1.48mi

Listing history 27 events

1. 2026-06-18
   days on market $215,000 Active 192 DOM
2. 2026-06-17
   days on market $215,000 Active 191 DOM
3. 2026-06-16
   days on market $215,000 Active 190 DOM
4. 2026-06-15
   days on market $215,000 Active 189 DOM
5. 2026-06-13
   days on market $215,000 Active 187 DOM
6. 2026-06-10
   days on market $215,000 Active 184 DOM
7. 2026-06-09
   days on market $215,000 Active 183 DOM
8. 2026-06-08
   days on market $215,000 Active 182 DOM
9. 2026-06-07
   days on market $215,000 Active 181 DOM
10. 2026-06-03
    days on market $215,000 Active 177 DOM
11. 2026-06-02
    days on market $215,000 Active 176 DOM
12. 2026-06-01
    days on market $215,000 Active 175 DOM
13. 2026-05-31
    days on market $215,000 Active 174 DOM
14. 2025-12-08
    listed $215,000 Active 152-char remark

    Show marketing remark (152 chars)

    Investors!!! Don't miss the opportunity to owner occupy. Live on one side and let the other side pay the mortgage. This move in ready double won't last.

15. 2025-12-08
    listed $215,000 Active 152-char remark

    Show marketing remark (152 chars)

    Investors!!! Don't miss the opportunity to owner occupy. Live on one side and let the other side pay the mortgage. This move in ready double won't last.

16. 2025-09-19
    price $215,000
17. 2025-09-19
    price $215,000
18. 2025-08-05
    price $220,000
19. 2025-08-05
    price $220,000
20. 2025-07-16
    price $223,000
21. 2025-07-16
    price $223,000
22. 2025-06-29
    listed $235,000 Active
23. 2025-04-29
    status Pending
24. 2025-04-28
    soldstatus $225,000 Closed
25. 2025-03-27
    historical Active Under Contract
26. 2025-03-20
    listed $225,000 Active
27. 2025-03-20
    listed $225,000 Active

ⓘ 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: $3,080 · $257/mo
• Projected year-2 tax: $3,080 · $257/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 AE · 60% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,892
• − Mortgage interest: −$12,043
• − Property taxes: −$3,080
• − Insurance: −$6,194
• − Repairs & maintenance: −$2,631
• − Management: −$2,631
• − Depreciation: −$6,255
• Taxable income: $58
• Est. tax owed @ 24.0%: −$14
• After-tax cash flow: $3,168/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 — Chalmette

• Score: 65/100
• State rank: #137
• US rank: #12500

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chalmette, LA
• County: Saint Bernard Parish · 22,638 people
• City population: 22,638
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 22,638
• Household income: $55,068
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 881.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 55% Black 26% Hispanic / Latino 12% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 13% Slovak 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 8% Arabic 1% Vietnamese 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: ▼ -211.77%
• Current HPI: 194.8123
• Rent YoY: ▲ 3.11%
• 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

-4.4% since first listed

14 events — show timeline

• 2025-12-08 Listed $215,000 GSREIN
• 2025-12-08 Listed $215,000 AcadianaMLS
• 2025-09-19 Price Changed $215,000 AcadianaMLS
• 2025-09-19 Price Changed $215,000 GSREIN
• 2025-08-05 Price Changed $220,000 AcadianaMLS
• 2025-08-05 Price Changed $220,000 GSREIN
• 2025-07-16 Price Changed $223,000 AcadianaMLS
• 2025-07-16 Price Changed $223,000 GSREIN
• 2025-06-29 Listed $235,000 AcadianaMLS
• 2025-04-29 Pending — GSREIN
• 2025-04-28 Sold (MLS) $225,000 GSREIN
• 2025-03-27 Contingent — GSREIN
• 2025-03-20 Listed $225,000 AcadianaMLS
• 2025-03-20 Listed $225,000 GSREIN

Property tax history

+8.5%/yr

Latest (2025): $3,080 · +135.5% YoY. Source: county tax records.