3805 Houma Blvd Unit C310 · Metairie, LA 70006

$105,000

1 bd · 1.0 ba · 760 sqft · Condo · 181 Days on market

Built 1972 Good condition $138/sqft · 24% below area Est $138k · 24% under $405/mo HOA · 31% 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 +8.1/30.0
• 1% rule +7.4/10.0
• Livability +4.4/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• DSCR +2.2/10.0
• Schools +2.1/10.0
• 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 $105k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-167 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $81k (23.0% below list).
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $81k (23.0% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 3.8% 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.
• Zoned schools: Alice Birney Elementary School (math 22% / reading 25%, grade F, #406 of 646 statewide, top 63%, 605 students, 54% FRL); J.D. Meisler Middle School (math 13% / reading 28%, grade F, #161 of 218 statewide, top 76%, 753 students, 50% FRL); Grace King High School (math 16% / reading 23%, grade F, #186 of 265 statewide, top 73%, 1,463 students, 47% FRL) — zoned schools average 51% FRL vs 70% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 123 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 82d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% 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 $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 91204% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 31% 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 $80,799 (23.0% 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 181 days. Have you received any prior offers? Is the seller open to a 23% 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: 1.24% ✓
• Cap rate: 5.14%
• Cash-on-cash: -4.11%
• DSCR: 0.82
• GRM: 6.7

CMA / ARV

• ARV (median comp): $137,575
• List price: $105,000
• Delta: -23.68%
• 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
3805 Houma Blvd Unit C305	0.01mi	1/1.0	760 (0%)	6mo	$71,000	$93	95
3805 Houma Blvd Unit B232	0.01mi	1/1.0	708 (-7%)	1mo	$118,000	$167	87
2500 Manson Ave #102	0.97mi	1/1.0	732 (-4%)	6mo	$92,000	$126	54
4020 Rye St #10	0.63mi	2/1.0 (+1)	800 (+5%)	4mo	$90,000	$113	54
4417 Yale St Unit A	0.29mi	2/1.0 (+1)	950 (+25%)	5mo	$155,000	$163	52
2509 Giuffrias Ave #702	0.97mi	1/1.0	709 (-7%)	4mo	$55,000	$78	51
3456 Cleary Ave #504	0.54mi	1/1.0	650 (-14%)	3mo	$141,000	$217	48
4218 Hessmer Ave #301	1.02mi	1/1.0	670 (-12%)	0mo	$59,400	$89	45
4218 Hessmer Ave #302	1.02mi	1/1.0	680 (-10%)	6mo	$68,750	$101	43
2201 Houma Blvd #106	1.13mi	1/1.0	600 (-21%)	7mo	$50,000	$83	34
2201 Houma Blvd #303	1.13mi	1/1.0	596 (-22%)	9mo	$95,000	$159	32
3320 N Arnoult Rd #226	1.19mi	2/1.0 (+1)	930 (+22%)	7mo	$137,000	$147	29

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: -27.7%
• Equity multiple: 0.07×
• Total profit: $-27,357
• Equity at exit: $15,656

10-year hold

• IRR: -24.6%
• Equity multiple: -0.23×
• Total profit: $-36,281
• Equity at exit: $9,078

Cash invested: $29,400 (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 →

Active competition Active MLS

• For sale now: 0 active · 1 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70006

• Active inventory: 123
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,304 high
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$405
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $-167

Break-even live

Break-even rent $1,515

Max offer price $80,799

Occupancy floor —

Sensitivity live

Price	-10% $-95	-5% $-131	+0% $-167	+5% $-204	+10% $-240
Rent	-10% $-270	-5% $-219	+0% $-167	+5% $-116	+10% $-64
Rate	-1.0pp $-114	-0.5pp $-141	base $-167	+0.5pp $-194	+1.0pp $-222

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: $26,250
• Closing costs: $3,150
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3805 Houma Blvd Metairie, LA	1.0–3.0	1.0–2.0	991	$1,150	$1.16	78d	5	0.03mi
3805 Houma Blvd Metairie, LA	1.0–2.0	1.0–1.5	884	$1,200	$1.36	6d	4	0.03mi
3805 Houma Blvd Metairie, LA	1.0–2.0	1.0–1.5	884	$1,400	$1.58	10d	4	0.03mi
3805 Houma Blvd Metairie, LA	1.0–2.0	1.0–1.5	878	$1,150	$1.31	67d	2	0.03mi
4401 Yale St Unit B Metairie, LA	2.0	1.0	900	$1,350	$1.50	139d	1	0.28mi
4401 Yale St Unit A Metairie, LA	2.0	1.0	1050	$1,400	$1.33	110d	1	0.28mi
4425 Yale St Unit B Metairie, LA	2.0	1.0	1050	$1,595	$1.52	139d	1	0.30mi
4509 Yale St Unit A Metairie, LA	2.0	1.0	800	$1,195	$1.49	139d	1	0.35mi
4509 Yale St Unit C Metairie, LA	2.0	1.0	800	$1,195	$1.49	119d	1	0.35mi
4509 Yale St Unit C Metairie, LA	2.0	1.0	800	$1,095	$1.37	10d	1	0.35mi
6901 Veterans Blvd #49 Metairie, LA	1.0	1.0	651	$1,200	$1.84	82d	1	0.43mi
3009 Houma Blvd Unit A Metairie, LA	2.0	1.5	900	$1,400	$1.56	78d	1	0.53mi
3009 Houma Blvd Unit D Metairie, LA	2.0	1.5	900	$1,400	$1.56	10d	1	0.53mi
3000 Independence St Metairie, LA	2.0	1.5	1000	$1,100	$1.10	10d	1	0.55mi
3100 Lake Villa Dr Metairie, LA	1.0	1.0	1100	$1,800	$1.64	139d	1	0.56mi
2951 Houma Blvd Metairie, LA	2.0	1.5	1100	$1,550	$1.41	93d	1	0.56mi
4021 Rye St Unit C Metairie, LA	2.0	1.5	1100	$1,400	$1.27	82d	1	0.56mi
3017 Lake Villa Dr Unit 4 Metairie, LA	2.0	1.0	655	$1,050	$1.60	139d	1	0.58mi
3017 Lake Villa Dr Unit 4 Metairie, LA	2.0	1.0	655	$1,050	$1.60	10d	1	0.58mi
4409 Trenton St Metairie, LA	2.0–3.0	2.0	1250	$2,389	$1.91	0d	12	0.62mi
4025 Sanford St Unit D Metairie, LA	2.0	10.0	715	$1,100	$1.54	10d	1	0.64mi
4117 Trenton St Unit D Metairie, LA	2.0	1.5	1100	$1,280	$1.16	2d	1	0.65mi
2725 Independence St Unit 305 Metairie, LA	1.0	1.0	746	$1,250	$1.68	82d	1	0.70mi
2725 Independence St #203 Metairie, LA	1.0	1.0	746	$1,250	$1.68	2d	1	0.70mi
2725 Independence St #303 Metairie, LA	1.0	1.0	746	$1,250	$1.68	93d	1	0.70mi
2713 Kingman St Unit A Metairie, LA	2.0	1.0	900	$1,250	$1.39	74d	1	0.71mi
2713 Kingman St Unit D Metairie, LA	2.0	1.0	940	$1,250	$1.33	119d	1	0.71mi
2713 Kingman St Unit C Metairie, LA	2.0	1.0	940	$1,250	$1.33	139d	1	0.71mi
3113 Cleary Ave Metairie, LA	2.0	1.0	946	$1,148	$1.21	139d	1	0.74mi
3700 Wanda Lynn Dr Unit B Metairie, LA	1.0	1.0	550	$1,100	$2.00	110d	1	0.78mi
4417 Lefkoe St Unit A Metairie, LA	2.0	1.5	1100	$1,500	$1.36	10d	1	0.82mi
4513 Tabony St Unit A Metairie, LA	2.0	1.5	1000	$1,350	$1.35	110d	1	0.84mi
4508 Tabony St Unit C Metairie, LA	2.0	1.5	960	$1,400	$1.46	82d	1	0.84mi
2808 Harvard Ave Unit A Metairie, LA	2.0	1.5	850	$1,200	$1.41	10d	1	0.85mi
2808 Harvard Ave Unit A Metairie, LA	2.0	1.5	850	$1,200	$1.41	110d	1	0.85mi
4634 Belle Dr Apt D Metairie, LA	2.0	2.0	1000	$1,175	$1.18	6d	1	0.86mi
4921 Yale St Unit B Metairie, LA	2.0	1.5	1100	$1,500	$1.36	139d	1	0.86mi
3732 Olney St Unit 110 Metairie, LA	1.0	1.0	851	$1,355	$1.59	139d	1	0.87mi
3732 Olney St Unit 111 Metairie, LA	1.0	1.0	877	$1,195	$1.36	10d	1	0.87mi
3732 Olney St Unit 107 Metairie, LA	1.0	1.0	851	$1,185	$1.39	67d	1	0.87mi

HOA detail $405/mo · $4,860/yr condo

• Likely covers: watertrashpoolgymsecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-09
   days on market $105,000 Active 181 DOM
2. 2026-08-08
   days on market $105,000 Active 180 DOM
3. 2026-08-07
   days on market $105,000 Active 179 DOM
4. 2026-08-06
   days on market $105,000 Active 178 DOM
5. 2026-08-05
   days on market $105,000 Active 177 DOM
6. 2026-08-04
   days on market $105,000 Active 176 DOM
7. 2026-08-03
   pricedays on market $105,000 Active 175 DOM
8. 2026-07-31
   days on market $110,000 Active 172 DOM
9. 2026-07-30
   days on market $110,000 Active 170 DOM
10. 2026-07-28
    days on market $110,000 Active 169 DOM
11. 2026-07-24
    days on market $110,000 Active 165 DOM
12. 2026-07-23
    days on market $110,000 Active 164 DOM
13. 2026-07-22
    days on market $110,000 Active 163 DOM
14. 2026-07-21
    days on market $110,000 Active 162 DOM
15. 2026-07-20
    days on market $110,000 Active 161 DOM
16. 2026-07-18
    days on market $110,000 Active 159 DOM
17. 2026-07-18
    days on market $110,000 Active 158 DOM
18. 2026-07-16
    days on market $110,000 Active 157 DOM
19. 2026-07-15
    days on market $110,000 Active 156 DOM
20. 2026-07-14
    days on market $110,000 Active 155 DOM
21. 2026-07-13
    days on market $110,000 Active 154 DOM
22. 2026-07-13
    days on market $110,000 Active 153 DOM
23. 2026-07-11
    days on market $110,000 Active 152 DOM
24. 2026-07-09
    days on market $110,000 Active 150 DOM
25. 2026-07-07
    days on market $110,000 Active 148 DOM
26. 2026-07-06
    days on market $110,000 Active 147 DOM
27. 2026-07-05
    days on market $110,000 Active 146 DOM
28. 2026-07-03
    days on market $110,000 Active 144 DOM
29. 2026-07-02
    days on market $110,000 Active 143 DOM
30. 2026-07-01
    days on market $110,000 Active 142 DOM
31. 2026-06-30
    days on market $110,000 Active 141 DOM
32. 2026-06-29
    days on market $110,000 Active 140 DOM
33. 2026-06-28
    days on market $110,000 Active 139 DOM
34. 2026-06-27
    days on market $110,000 Active 138 DOM
35. 2026-06-27
    days on market $110,000 Active 137 DOM
36. 2026-06-25
    days on market $110,000 Active 135 DOM
37. 2026-06-22
    days on market $110,000 Active 133 DOM
38. 2026-06-21
    days on market $110,000 Active 132 DOM
39. 2026-06-18
    days on market $110,000 Active 129 DOM
40. 2026-06-17
    days on market $110,000 Active 128 DOM
41. 2026-06-16
    days on market $110,000 Active 127 DOM
42. 2026-06-15
    days on market $110,000 Active 126 DOM
43. 2026-06-13
    days on market $110,000 Active 124 DOM
44. 2026-06-10
    days on market $110,000 Active 121 DOM
45. 2026-06-09
    days on market $110,000 Active 120 DOM
46. 2026-06-08
    days on market $110,000 Active 119 DOM
47. 2026-06-07
    days on market $110,000 Active 118 DOM
48. 2026-06-03
    days on market $110,000 Active 114 DOM
49. 2026-06-02
    days on market $110,000 Active 113 DOM
50. 2026-06-01
    days on market $110,000 Active 112 DOM

ⓘ 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: $15,643
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$1,322
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − HOA: −$4,860
• − Depreciation: −$3,055
• Taxable loss: −$3,553
• Est. tax savings @ 24.0%: +$853
• After-tax cash flow: $-1,154/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 Est. rehab $3,800–$11,400 screening

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 ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 21/100

Zoned Schools

Elementary Alice Birney Elementary School F LA #406/646 Nat'l #31,549/41,679 Middle J.d. Meisler Middle School F LA #161/218 Nat'l #11,564/14,009 High Grace King High School F LA #186/265 Nat'l #14,491/17,239

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

A Composite livability gradescore 87/100

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 · 451,696 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: 19% of renters

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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%

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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%

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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

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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