3805 Houma Blvd Unit C310 · Metairie, LA 70006

$110,000

1 bd · 1.0 ba · 760 sqft · Condo · 132 Days on market

Built 1972 Good condition $145/sqft · 25% below area Est $147k · 25% under $405/mo HOA · 30% of rent ↓ 4% since listing

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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 +7.9/30.0
• 1% rule +7.1/10.0
• Livability +4.4/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Situated in the heart of Metairie, this condo's 3rd floor corner location is exceptional. Located next door to East Jefferson General Hospital. Shopping, entertainment and more...convenience is at your doorstep. Adorable 1 bedroom, 1 bathroom condo, stainless steel appliances, in door laundry hookups, plenty of storage with additional hall closets, private balcony, assigned parking space. Gated complex. Amenities include 2 pools accompanied by a sundeck, 2 dedicated pet areas make it convenient for your furry friends, along with an fitness center. HOA dues cover exterior insurance, termite protection, water, and garbage.

Key facts

• Gated complex
• Private balcony
• 2 pools

Tags

• 3RD FLOOR CORNER LOCATION
• PRIVATE BALCONY
• ASSIGNED PARKING SPACE
• GATED COMPLEX
• 2 POOLS
• SUNDECK

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-182 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $84k (24.0% below list).
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $84k (24.0% below list) — sets the bar for cash-flow.
• Cap rate 5.0% vs local median 3.6% in Metairie — 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 87/100 on livability (#1 in LA, #261 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• 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: 77 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 95552% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 30% of rent.
• 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 $83,600 (24.0% 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 132 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.21% ✓
• Cap rate: 5.03%
• Cash-on-cash: -4.52%
• DSCR: 0.80
• GRM: 6.9

CMA / ARV

• ARV (median comp): $147,152
• List price: $110,000
• Delta: -25.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -28.2%
• Equity multiple: 0.05×
• Total profit: $-29,135
• Equity at exit: $16,401

10-year hold

• IRR: -25.8%
• Equity multiple: -0.27×
• Total profit: $-39,074
• Equity at exit: $9,511

Cash invested: $30,800 (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 70006

• Active inventory: 77
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,328 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$405
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $-182

Break-even live

Break-even rent $1,559

Max offer price $83,600

Occupancy floor —

Sensitivity live

Price	-10% $-106	-5% $-144	+0% $-182	+5% $-220	+10% $-258
Rent	-10% $-287	-5% $-235	+0% $-182	+5% $-130	+10% $-78
Rate	-1.0pp $-127	-0.5pp $-154	base $-182	+0.5pp $-211	+1.0pp $-240

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3805 Houma Blvd Metairie, LA	1.0–2.0	1.0–1.5	855	$1,150	$1.34	3d	6	0.03mi
4201 Teuton St Metairie, LA	2.0	1.5	852	$1,200	$1.41	5d	1	0.04mi
4401 Yale St Unit B Metairie, LA	2.0	1.0	900	$1,350	$1.50	45d	1	0.28mi
4401 Yale St Unit A Metairie, LA	2.0	1.0	1050	$1,400	$1.33	15d	1	0.28mi
4425 Yale St Unit B Metairie, LA	2.0	1.0	1050	$1,595	$1.52	45d	1	0.30mi
4509 Yale St Unit A Metairie, LA	2.0	1.0	800	$1,195	$1.49	45d	1	0.35mi
4509 Yale St Unit C Metairie, LA	2.0	1.0	800	$1,195	$1.49	24d	1	0.35mi
3009 Houma Blvd Unit A Metairie, LA	2.0	1.5	900	$1,450	$1.61	24d	1	0.53mi
3009 Houma Blvd Unit D Metairie, LA	2.0	1.5	900	$1,500	$1.67	45d	1	0.53mi
3000 Independence St Metairie, LA	2.0	1.5	1000	$1,200	$1.20	45d	2	0.55mi
3100 Lake Villa Dr Metairie, LA	1.0	1.0	1100	$1,800	$1.64	45d	1	0.56mi
3017 Lake Villa Dr Unit 4 Metairie, LA	2.0	1.0	655	$1,050	$1.60	45d	1	0.58mi
2713 Kingman St Unit D Metairie, LA	2.0	1.0	940	$1,250	$1.33	24d	1	0.71mi
2713 Kingman St Unit C Metairie, LA	2.0	1.0	940	$1,250	$1.33	45d	1	0.71mi
3113 Cleary Ave Metairie, LA	2.0	1.0	946	$1,148	$1.21	45d	1	0.74mi
3700 Wanda Lynn Dr Unit B Metairie, LA	1.0	1.0	550	$1,100	$2.00	15d	1	0.78mi
4513 Tabony St Unit A Metairie, LA	2.0	1.5	1000	$1,350	$1.35	15d	1	0.84mi
2808 Harvard Ave Unit A Metairie, LA	2.0	1.5	850	$1,200	$1.41	15d	1	0.85mi
4921 Yale St Unit B Metairie, LA	2.0	1.5	1100	$1,500	$1.36	45d	1	0.86mi
3732 Olney St Unit 110 Metairie, LA	1.0	1.0	851	$1,355	$1.59	45d	1	0.87mi
4925 Yale St Unit F Metairie, LA	2.0	1.5	1100	$1,500	$1.36	24d	1	0.88mi
2513 Pasadena Ave #203 Metairie, LA	1.0	1.0	643	$1,100	$1.71	24d	1	0.89mi
2513 Pasadena Ave #303 Metairie, LA	1.0	1.0	800	$1,100	$1.38	5d	1	0.89mi
2509 Houma Blvd Unit 301 Metairie, LA	2.0	2.0	1000	$1,500	$1.50	24d	1	0.90mi
2509 Houma Blvd Unit 103 Metairie, LA	2.0	2.0	900	$1,400	$1.56	45d	1	0.90mi
3900 Division St Unit D Metairie, LA	2.0	1.0	920	$1,300	$1.41	45d	1	0.90mi
2500 Houma Blvd #322 Metairie, LA	1.0	1.0	625	$1,550	$2.48	45d	1	0.92mi
2500 Houma Blvd #320 Metairie, LA	1.0	1.0	590	$1,195	$2.03	21d	1	0.92mi
2500 Houma Blvd #222 Metairie, LA	1.0	1.0	590	$1,450	$2.46	45d	1	0.92mi
2500 Manson Ave Metairie, LA	2.0	1.5	1000	$1,350	$1.35	24d	1	0.92mi
3127 Transcontinental Dr Unit 3119C Metairie, LA	2.0	1.5	1100	$1,450	$1.32	24d	1	0.93mi
3127 Transcontinental Dr Unit 3122B Metairie, LA	2.0	1.5	1100	$1,605	$1.46	4d	1	0.93mi
4063 Division St Metairie, LA	2.0	1.5	1100	$1,350	$1.23	45d	1	0.93mi
2416 Pasadena Ave Unit 308-2 Metairie, LA	2.0	1.0	775	$1,195	$1.54	5d	1	0.94mi
2500 Richland Ave Unit D Metairie, LA	2.0	1.5	980	$1,375	$1.40	5d	1	0.94mi
2509 Giuffrias Ave #510 Metairie, LA	1.0	1.0	900	$1,175	$1.31	45d	1	0.94mi
2509 Giuffrias Ave #516 Metairie, LA	1.0	1.0	900	$1,175	$1.31	24d	1	0.94mi
2417 Houma Blvd Unit D Metairie, LA	2.0	1.0	1000	$1,800	$1.80	24d	1	0.95mi
2417 Houma Blvd Unit B Metairie, LA	2.0	1.0	950	$1,775	$1.87	24d	1	0.95mi
2417 Houma Blvd Metairie, LA	2.0	1.0	1000	$1,700	$1.70	5d	1	0.95mi

HOA detail condo

• Monthly dues: $405 · $4,860/yr
• Likely covers: watertrashpoolgymsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $110,000 Active 132 DOM
2. 2026-06-18
   days on market $110,000 Active 129 DOM
3. 2026-06-17
   days on market $110,000 Active 128 DOM
4. 2026-06-16
   days on market $110,000 Active 127 DOM
5. 2026-06-15
   days on market $110,000 Active 126 DOM
6. 2026-06-13
   days on market $110,000 Active 124 DOM
7. 2026-06-10
   days on market $110,000 Active 121 DOM
8. 2026-06-09
   days on market $110,000 Active 120 DOM
9. 2026-06-08
   days on market $110,000 Active 119 DOM
10. 2026-06-07
    days on market $110,000 Active 118 DOM
11. 2026-06-03
    days on market $110,000 Active 114 DOM
12. 2026-06-02
    days on market $110,000 Active 113 DOM
13. 2026-06-01
    days on market $110,000 Active 112 DOM
14. 2026-05-31
    days on market $110,000 Active 111 DOM
15. 2026-04-15
    price $110,000 628-char remark

    Show marketing remark (630 chars)

    Situated in the heart of Metairie, this condo's 3rd floor corner location is exceptional. Located next door to East Jefferson General Hospital. Shopping, entertainment and more. .. convenience is at your doorstep. Adorable 1 bedroom, 1 bathroom condo, stainless steel appliances, in door laundry hookups, plenty of storage with additional hall closets, private balcony, assigned parking space. Gated complex. Amenities include 2 pools accompanied by a sundeck, 2 dedicated pet areas make it convenient for your furry friends, along with an fitness center. HOA dues cover exterior insurance, termite protection, water, and garbage.

16. 2026-04-15
    price $110,000 630-char remark

    Show marketing remark (630 chars)

    Situated in the heart of Metairie, this condo's 3rd floor corner location is exceptional. Located next door to East Jefferson General Hospital. Shopping, entertainment and more. .. convenience is at your doorstep. Adorable 1 bedroom, 1 bathroom condo, stainless steel appliances, in door laundry hookups, plenty of storage with additional hall closets, private balcony, assigned parking space. Gated complex. Amenities include 2 pools accompanied by a sundeck, 2 dedicated pet areas make it convenient for your furry friends, along with an fitness center. HOA dues cover exterior insurance, termite protection, water, and garbage.

17. 2026-02-09
    price $115,000 630-char remark

    Show marketing remark (630 chars)

    Situated in the heart of Metairie, this condo's 3rd floor corner location is exceptional. Located next door to East Jefferson General Hospital. Shopping, entertainment and more. .. convenience is at your doorstep. Adorable 1 bedroom, 1 bathroom condo, stainless steel appliances, in door laundry hookups, plenty of storage with additional hall closets, private balcony, assigned parking space. Gated complex. Amenities include 2 pools accompanied by a sundeck, 2 dedicated pet areas make it convenient for your furry friends, along with an fitness center. HOA dues cover exterior insurance, termite protection, water, and garbage.

18. 2026-02-09
    listed $115,000 Active 628-char remark

    Show marketing remark (630 chars)

    Situated in the heart of Metairie, this condo's 3rd floor corner location is exceptional. Located next door to East Jefferson General Hospital. Shopping, entertainment and more. .. convenience is at your doorstep. Adorable 1 bedroom, 1 bathroom condo, stainless steel appliances, in door laundry hookups, plenty of storage with additional hall closets, private balcony, assigned parking space. Gated complex. Amenities include 2 pools accompanied by a sundeck, 2 dedicated pet areas make it convenient for your furry friends, along with an fitness center. HOA dues cover exterior insurance, termite protection, water, and garbage.

19. 2026-02-09
    listed $115 Active 630-char remark

    Show marketing remark (630 chars)

    Situated in the heart of Metairie, this condo's 3rd floor corner location is exceptional. Located next door to East Jefferson General Hospital. Shopping, entertainment and more. .. convenience is at your doorstep. Adorable 1 bedroom, 1 bathroom condo, stainless steel appliances, in door laundry hookups, plenty of storage with additional hall closets, private balcony, assigned parking space. Gated complex. Amenities include 2 pools accompanied by a sundeck, 2 dedicated pet areas make it convenient for your furry friends, along with an fitness center. HOA dues cover exterior insurance, termite protection, water, and garbage.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,937
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$1,348
• − Repairs & maintenance: −$1,275
• − Management: −$1,275
• − HOA: −$4,860
• − Depreciation: −$3,200
• Taxable loss: −$3,832
• Est. tax savings @ 24.0%: +$920
• After-tax cash flow: $-1,270/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

Good 75/100 Cosmetic rehab

This well-maintained 1-bedroom condo in Metairie is in good condition with minor cosmetic updates needed to enhance its resale and rental value.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace carpet in living areas — Carpet is worn and should be replaced for a more modern look
• Rental Clean and maintain HVAC system — A clean and efficient HVAC system improves tenant satisfaction and reduces utility costs

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace carpet in living areas — Carpet is worn and should be replaced for a more modern look ↑
• Rental Clean and maintain HVAC system — A clean and efficient HVAC system improves tenant satisfaction and reduces utility costs ↑

ⓘ 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 — Metairie

• Score: 87/100
• State rank: #1
• US rank: #261

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Metairie, LA
• County: Jefferson Parish · 426,999 people
• City population: 137,978
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 16,170
• Household income: $76,505
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 590.0

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 0.63)
• Race & ethnicity: White 54% Hispanic / Latino 26% Two or more races 18% Black 9% Asian 6% Native American 3%
• Hispanic origin (detail): Mexican 2% Cuban 1%
• Common ancestry: Lithuanian 11% Armenian 2% Italian 1%
• Foreign-born: 24% · Canada, China, Vietnam
• Languages at home: 65% English-only · Spanish 20% Arabic 6% Other Indo-European 4%

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: ▼ -162.73%
• Current HPI: 184.7849
• 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

-4.3% since first listed

5 events — show timeline

• 2026-04-15 Price Changed $110,000 AcadianaMLS
• 2026-04-15 Price Changed $110,000 GSREIN
• 2026-02-09 Price Changed $115,000 GSREIN
• 2026-02-09 Listed $115 GSREIN
• 2026-02-09 Listed $115,000 AcadianaMLS