2732 Whitney Pl

Metairie, LA 70002

$149,900D-

3 bd · 2.0 ba · 1,360 sqft · Built 1965 · Townhouse · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,742/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$316
• HOA: −$716
• Vac / Maint / Mgmt: −$366
• Net cashflow: $-442/mo
• Annual: $-5,307/yr
• Cap rate: 3.28%
• Cash-on-cash: -10.74%
• DSCR: 0.52
• 1% rule: 1.16%
• Cash to close: $41,972

Investor read

• This is a 3-bed/2.0-bath townhouse listed at $150k. Condition is rated good.
• At list price, monthly cash flow is $-442 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $86k (42.7% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $86k (42.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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: J.C. Ellis School (math 40% / reading 48%, grade F, #191 of 646 statewide, top 30%, 613 students, 49% FRL); J.D. Meisler Middle School (math 13% / reading 28%, grade F, #161 of 218 statewide, top 76%, 753 students, 50% FRL); Riverdale High School (math 36% / reading 52%, grade F, #62 of 265 statewide, top 23%, 1,019 students, 50% FRL) — zoned schools average 50% FRL vs 70% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $66/mo; HOA is 41% of rent.
• Market conditions: Rents soft (-2.8%/yr); 214 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• 38 sale attempts since 27y ago; this cycle's ask is 63% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $90k; list at $150k implies a 67% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major 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.
• This rent runs 32% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.