1161 Lake Ave #308 · Metairie, LA 70005

$98,900

1 bd · 1.0 ba · 780 sqft · Townhouse · 85 Days on market

Built 1971 $127/sqft · 12% below area Est $113k · 12% under $406/mo HOA · 28% of rent

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Why this score? — see what drove the C 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 +17.1/30.0
• ARV discount +13.0/15.0
• 1% rule +9.6/10.0
• DSCR +5.3/10.0
• Livability +4.4/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Allowed by association to put in W/ D connections, stack units. Phone intercom to front gate, triple wide glass door/window to cover/balcony. 3rd floor, overlooks inside pool area. Cathedral ceilings, skylite, huge walkin closet, kitchen furn, outside storage, locker by front door. Also laundry on premises.

Key facts

• Cathedral ceilings
• Skylite
• Phone intercom

Tags

• STACK UNITS
• PHONE INTERCOM
• TRIPLE WIDE GLASS DOOR
• OVERLOOKS INSIDE POOL AREA
• CATHEDRAL CEILINGS
• SKYLITE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $99k.

Deal economics

• At list price, monthly cash flow is $68 ($819/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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: Rents soft (-0.3%/yr); 171 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); 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 $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y 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 $52k; list at $99k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $92,966 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.46% ✓
• Cap rate: 7.12%
• Cash-on-cash: 2.96%
• DSCR: 1.13
• GRM: 5.7

CMA / ARV

• ARV (median comp): $112,593
• List price: $98,900
• Delta: -12.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1161 Lake Ave #116	0.00mi	1/1.0	800 (+3%)	3mo	$40,000	$50	93
1161 Lake Ave #101	0.00mi	1/1.0	780 (0%)	15mo	$110,000	$141	88
1161 Lake Ave #323	0.00mi	1/1.0	750 (-4%)	10mo	$75,000	$100	85
1161 Lake Ave #216	0.00mi	1/1.0	800 (+3%)	24mo	$107,500	$134	76
1161 Lake Ave #111	0.00mi	1/1.0	844 (+8%)	20mo	$64,000	$76	70
812 Martin Behrman Ave Unit O	0.45mi	1/1.0	700 (-10%)	10mo	$98,000	$140	54
420 Hammond Hwy #227	0.73mi	1/1.0	825 (+6%)	18mo	$200,000	$242	41
301 Seattle St #5	0.56mi	2/1.0 (+1)	670 (-14%)	7mo	$130,000	$194	40

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: -16.6%
• Equity multiple: 0.44×
• Total profit: $-15,640
• Equity at exit: $14,746

10-year hold

• IRR: -20.3%
• Equity multiple: 0.16×
• Total profit: $-23,284
• Equity at exit: $8,551

Cash invested: $27,692 (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 70005

• Rents YoY: -0.3%
• Active inventory: 171
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,441 high
• Mortgage (P&I): −$519
• Tax from tax record: −$104 /mo · $1,248/yr
• Insurance: −$41
• HOA: −$406
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $68

Break-even live

Break-even rent $1,354

Max offer price $98,900

Occupancy floor 90%

Sensitivity live

Price	-10% $124	-5% $96	+0% $68	+5% $40	+10% $12
Rent	-10% $-46	-5% $11	+0% $68	+5% $125	+10% $182
Rate	-1.0pp $118	-0.5pp $93	base $68	+0.5pp $43	+1.0pp $17

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: $24,725
• Closing costs: $2,967
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1161 Lake Ave #222 Metairie, LA	2.0	1.0	770	$1,250	$1.62	44d	1	0.02mi
1161 Lake Ave #205 Metairie, LA	1.0	1.0	775	$1,430	$1.85	44d	1	0.02mi
1161 Lake Ave #120 Metairie, LA	1.0	1.0	750	$1,400	$1.87	44d	1	0.02mi
222 London Ave #218 Metairie, LA	2.0	1.5	1000	$1,400	$1.40	3d	1	0.07mi
1044 Lake Ave Unit D Metairie, LA	2.0	2.0	1044	$1,300	$1.25	44d	1	0.14mi
320 18th St New Orleans, LA	2.0	1.0	850	$1,350	$1.59	24d	1	0.33mi
1401 Lake Ave Unit C6 Metairie, LA	2.0	1.5	1040	$1,625	$1.56	44d	1	0.38mi
6537 Bellaire Dr New Orleans, LA	2.0	2.0	1100	$1,750	$1.59	24d	1	0.39mi
230 16th St New Orleans, LA	2.0	1.0	750	$1,875	$2.50	3d	1	0.43mi
243 14th St New Orleans, LA	2.0	1.0	902	$1,500	$1.66	24d	1	0.43mi
812 Martin Behrman Ave Unit A Metairie, LA	1.0	1.0	700	$1,250	$1.79	44d	1	0.44mi
6564 Fleur de Lis Dr New Orleans, LA	1.0	1.0	600	$1,050	$1.75	24d	1	0.50mi
6616 Bellaire Dr New Orleans, LA	2.0	1.0	850	$1,500	$1.76	24d	1	0.51mi
213 W Esplanade Ave #213 Metairie, LA	2.0	1.5	1021	$1,400	$1.37	44d	1	0.51mi
6622 Fleur De Lis Dr Unit 2 New Orleans, LA	2.0	1.0	950	$1,400	$1.47	24d	1	0.56mi
301 Seattle St New Orleans, LA	2.0	1.0	660	$1,475	$2.23	22d	3	0.58mi
6650 Fleur De Lis Dr #5 New Orleans, LA	1.0	1.0	600	$1,100	$1.83	24d	1	0.59mi
625 Papworth Ave Apt E Metairie, LA	2.0	1.0	928	$1,000	$1.08	5d	1	0.61mi
625 Papworth Ave Unit B Metairie, LA	2.0	1.0	1020	$1,500	$1.47	5d	1	0.61mi
6629 Fleur De Lis Dr Apt 6 New Orleans, LA	1.0	1.0	750	$1,150	$1.53	12d	1	0.61mi
112 Glenn St Unit G Metairie, LA	2.0	1.0	750	$1,275	$1.70	24d	1	0.61mi
1554 Orpheum Ave Unit 2 Metairie, LA	1.0	1.5	700	$1,050	$1.50	44d	1	0.66mi
101 36th St New Orleans, LA	1.0	1.0	1000	$1,455	$1.46	24d	1	0.66mi
322 40th St New Orleans, LA	2.0	1.0	862	$1,500	$1.74	24d	1	0.74mi
509 E William David Pkwy Unit A Metairie, LA	1.0	1.0	700	$1,650	$2.36	24d	1	0.75mi
6720 Pontchartrain Blvd New Orleans, LA	2.0	1.0	875	$1,550	$1.77	4d	1	0.78mi
6722 Pontchartrain Blvd New Orleans, LA	2.0	1.0	850	$1,550	$1.82	4d	1	0.79mi
506 Nursery Ave Metairie, LA	2.0	1.0	725	$1,500	$2.07	5d	1	0.80mi
1639 Lake Ave Unit 6 Metairie, LA	2.0	1.0	1000	$1,200	$1.20	44d	1	0.81mi
6821 Fleur De Lis Dr New Orleans, LA	2.0	1.0	1000	$2,000	$2.00	24d	1	0.82mi
404 Polk St New Orleans, LA	2.0	1.0	769	$1,600	$2.08	4d	1	0.87mi
422-424 Nursery Ave Metairie, LA	2.0	1.0	1030	$2,050	$1.99	5d	1	0.87mi
1508 Seminole Ave Unit 207 Metairie, LA	1.0	1.0	550	$905	$1.65	15d	1	0.88mi
1212 Brockenbraugh Ct Unit D Metairie, LA	2.0	1.0	957	$1,050	$1.10	44d	1	0.88mi
320 Harney St New Orleans, LA	1.0	1.0	900	$1,150	$1.28	24d	1	0.89mi
423 Canal St Metairie, LA	2.0	1.0	1000	$1,600	$1.60	5d	1	0.91mi
325 Filmore Ave New Orleans, LA	2.0	1.0	738	$1,350	$1.83	24d	1	0.93mi
420 Metairie Hammond Hwy Metairie, LA	1.0–2.0	1.0	808	$2,000	$2.48	24d	4	0.93mi
420 Metairie Hammond Hwy Metairie, LA	1.0–2.0	1.0	808	$2,000	$2.48	22d	4	0.93mi
6840 Catina St New Orleans, LA	2.0	1.0	1100	$1,500	$1.36	4d	1	0.95mi

HOA detail

• Monthly dues: $406 · $4,872/yr
• Likely covers: pool

Listing history 21 events

1. 2026-06-18
   days on market $98,900 Active 85 DOM
2. 2026-06-17
   days on market $98,900 Active 84 DOM
3. 2026-06-16
   days on market $98,900 Active 83 DOM
4. 2026-06-15
   days on market $98,900 Active 82 DOM
5. 2026-06-13
   days on market $98,900 Active 80 DOM
6. 2026-06-10
   days on market $98,900 Active 77 DOM
7. 2026-06-09
   days on market $98,900 Active 76 DOM
8. 2026-06-08
   days on market $98,900 Active 75 DOM
9. 2026-06-07
   days on market $98,900 Active 74 DOM
10. 2026-06-03
    days on market $98,900 Active 70 DOM
11. 2026-06-02
    days on market $98,900 Active 69 DOM
12. 2026-06-01
    days on market $98,900 Active 68 DOM
13. 2026-05-31
    days on market $98,900 Active 67 DOM
14. 2026-03-24
    listed $98,900 Active 308-char remark

    Show marketing remark (307 chars)

    Allowed by association to put in W/D connections, stack units. Phone intercom to front gate, triple wide glass door/window to cover/balcony. 3rd floor, overlooks inside pool area. Cathedral ceilings, skylite, huge walkin closet, kitchen furn, outside storage, locker by front door. Also laundry on premises.

15. 2026-03-24
    listed $98,900 Active 307-char remark

    Show marketing remark (307 chars)

    Allowed by association to put in W/D connections, stack units. Phone intercom to front gate, triple wide glass door/window to cover/balcony. 3rd floor, overlooks inside pool area. Cathedral ceilings, skylite, huge walkin closet, kitchen furn, outside storage, locker by front door. Also laundry on premises.

16. 2009-03-09
    listed $89,000
17. 2009-03-09
    listed $89,000
18. 2001-05-29
    soldstatus $52,000
19. 2001-05-04
    listed $53,000
20. 2001-05-04
    listed $53,000
21. 2001-05-01
    soldstatus $52,000

ⓘ 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: $1,248 · $104/mo
• Projected year-2 tax: $1,248 · $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: $17,288
• − Mortgage interest: −$5,540
• − Property taxes: −$1,248
• − Insurance: −$494
• − Repairs & maintenance: −$1,383
• − Management: −$1,383
• − HOA: −$4,872
• − Depreciation: −$2,877
• Taxable loss: −$510
• Est. tax savings @ 24.0%: +$122
• After-tax cash flow: $942/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 — 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): 24,088
• Household income: $89,194
• Rent vs Own: 34.9% rent · 65.1% own
• Severe rent burden: 711.0

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: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 13% Two or more races 8% Asian 2% Native American 2% Black 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 21% Slovak 2% Iranian 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 8% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -371.32%
• Current HPI: 142.4955
• Rent YoY: ▼ -0.31%
• 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

+90.2% since first listed

8 events — show timeline

• 2026-03-24 Listed $98,900 AcadianaMLS
• 2026-03-24 Listed $98,900 GSREIN
• 2009-03-09 Listed $89,000 GSREIN
• 2009-03-09 Listed $89,000 AcadianaMLS
• 2001-05-29 Sold (MLS) $52,000 GSREIN
• 2001-05-04 Listed $53,000 GSREIN
• 2001-05-04 Listed $53,000 AcadianaMLS
• 2001-05-01 Sold (Public Records) $52,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $1,248 · +0.2% YoY. Source: county tax records.