413 Capitol Dr · Waggaman, LA 70094

$175,000

4 bd · 2.0 ba · 1,143 sqft · SingleFamily · 92 Days on market

Built 1967 5,222 sqft lot $153/sqft · 11% below area Est $196k · 11% under

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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 +23.2/30.0
• ARV discount +12.4/15.0
• DSCR +7.5/10.0
• 1% rule +5.0/10.0
• Livability +3.1/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Stop and see this fresh, well maintained 4-bedroom, 2 bath home with a large rear yard offering plenty of space for outdoor activities. Inside, the home features nicely sized rooms with tile flooring throughout, with the exception of the primary bedroom. Storage is abundant with numerous closets throughout. Great functional space for everyday living. Additional highlights include a large attached garage and practical layout well-suited for a variety of needs. The yard requires minimal upkeep beyond routine grass cutting, making it easy to enjoy. X flood zone.

Key facts

• Practical layout
• Numerous closets
• Large rear yard

Tags

• LARGE REAR YARD
• TILE FLOORING
• NUMEROUS CLOSETS
• PRACTICAL LAYOUT
• MINIMAL UPKEEP

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (0.1% below list).
• Recommended offer: $159k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.7% in Waggaman — 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 61/100 on livability (#226 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D, crime F, amenities F.
• 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 (-0.8%/yr); 186 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• This rent runs 39% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Recommended offer $159,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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: 1.00% ✗
• Cap rate: 8.48%
• Cash-on-cash: 7.79%
• DSCR: 1.35
• GRM: 8.3

CMA / ARV

• ARV (median comp): $196,234
• List price: $175,000
• Delta: -10.82%
• 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
345 Capitol Dr	0.15mi	4/2.0	1,170 (+2%)	10mo	$179,500	$153	81
304 Deacon St	0.16mi	3/2.0 (-1)	1,147 (+0%)	12mo	$172,500	$150	77
129 Herman St	0.27mi	3/2.0 (-1)	1,164 (+2%)	14mo	$193,000	$166	68
321 Travis Dr	0.34mi	3/2.0 (-1)	1,236 (+8%)	1mo	$189,000	$153	65
156 Grambling Ct	0.47mi	3/1.0 (-1)	1,159 (+1%)	10mo	$115,000	$99	59
333 Glendella Dr	0.19mi	3/1.0 (-1)	1,001 (-12%)	6mo	$63,000	$63	56
129 Prarieview Ct	0.46mi	3/1.5 (-1)	1,100 (-4%)	12mo	$130,000	$118	55
176 Prairie View Ct	0.35mi	3/1.5 (-1)	1,017 (-11%)	6mo	$115,000	$113	54
325 Dome Dr	0.37mi	3/2.0 (-1)	1,300 (+14%)	2mo	$175,000	$135	53
133 Prairie View Ct	0.46mi	3/1.0 (-1)	1,200 (+5%)	13mo	$145,000	$121	51
141 Dillard Dr	0.55mi	3/2.0 (-1)	1,294 (+13%)	3mo	$178,000	$138	45
200 George St	0.60mi	3/2.0 (-1)	1,250 (+9%)	13mo	$145,000	$116	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.73×
• Total profit: $-13,274
• Equity at exit: $26,093

10-year hold

• IRR: -1.9%
• Equity multiple: 0.89×
• Total profit: $-5,513
• Equity at exit: $15,131

Cash invested: $49,000 (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 70094

• Rents YoY: -0.8%
• Active inventory: 186
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,748 high
• Mortgage (P&I): −$918
• Tax from tax record: −$72 /mo · $861/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $318

Break-even live

Break-even rent $1,345

Max offer price $175,000

Occupancy floor 77%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
351 Glendella Dr Westwego, LA	3.0	1.5	1350	$1,450	$1.07	4d	1	0.13mi
351 Glendella Dr Westwego, LA	3.0	1.5	1200	$1,600	$1.33	43d	1	0.13mi
384 Layman St Westwego, LA	3.0	2.0	1258	$1,560	$1.24	43d	1	0.26mi
441 Butler Dr Westwego, LA	3.0	1.5	1200	$1,450	$1.21	43d	1	0.46mi
441 Butler Dr Westwego, LA	3.0	2.0	1200	$1,450	$1.21	23d	1	0.46mi
304 Butler Dr Westwego, LA	4.0	2.0	1200	$2,300	$1.92	43d	1	0.51mi
145 S Dexter Dr Westwego, LA	3.0	1.5	1200	$1,400	$1.17	23d	1	0.60mi
185 Carmen Dr Westwego, LA	3.0	1.0	900	$1,600	$1.78	43d	1	1.02mi
96 Park Ave New Orleans, LA	3.0	1.0	1100	$1,900	$1.73	23d	1	1.15mi
113 Jeanne Dr Westwego, LA	3.0	2.0	800	$1,950	$2.44	14d	1	1.39mi
101 Ursula Dr Westwego, LA	3.0	1.5	1400	$1,600	$1.14	14d	1	1.47mi

Listing history 20 events

1. 2026-06-18
   days on market $175,000 Active 92 DOM
2. 2026-06-17
   days on market $175,000 Active 91 DOM
3. 2026-06-16
   days on market $175,000 Active 90 DOM
4. 2026-06-15
   days on market $175,000 Active 89 DOM
5. 2026-06-13
   days on market $175,000 Active 87 DOM
6. 2026-06-10
   days on market $175,000 Active 84 DOM
7. 2026-06-09
   days on market $175,000 Active 83 DOM
8. 2026-06-08
   days on market $175,000 Active 82 DOM
9. 2026-06-07
   days on market $175,000 Active 81 DOM
10. 2026-06-03
    days on market $175,000 Active 77 DOM
11. 2026-06-02
    days on market $175,000 Active 76 DOM
12. 2026-06-01
    days on market $175,000 Active 75 DOM
13. 2026-05-31
    days on market $175,000 Active 74 DOM
14. 2026-03-18
    listed $175,000 Active 565-char remark

    Show marketing remark (565 chars)

    Stop and see this fresh, well maintained 4-bedroom, 2 bath home with a large rear yard offering plenty of space for outdoor activities. Inside, the home features nicely sized rooms with tile flooring throughout, with the exception of the primary bedroom. Storage is abundant with numerous closets throughout. Great functional space for everyday living. Additional highlights include a large attached garage and practical layout well-suited for a variety of needs. The yard requires minimal upkeep beyond routine grass cutting, making it easy to enjoy. X flood zone.

15. 2026-03-18
    listed $175,000 Active 565-char remark

    Show marketing remark (565 chars)

    Stop and see this fresh, well maintained 4-bedroom, 2 bath home with a large rear yard offering plenty of space for outdoor activities. Inside, the home features nicely sized rooms with tile flooring throughout, with the exception of the primary bedroom. Storage is abundant with numerous closets throughout. Great functional space for everyday living. Additional highlights include a large attached garage and practical layout well-suited for a variety of needs. The yard requires minimal upkeep beyond routine grass cutting, making it easy to enjoy. X flood zone.

16. 2022-12-05
    soldstatus $170,000
17. 2022-08-09
    price $169,900
18. 2022-05-26
    price $179,900
19. 2022-03-29
    listed $169,900
20. 2002-04-01
    soldstatus

ⓘ 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: $861 · $72/mo
• Projected year-2 tax: $962 · $80/mo
• Expected delta: +$101/yr (+$8/mo · 11.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $20,972
• − Mortgage interest: −$9,803
• − Property taxes: −$861
• − Insurance: −$875
• − Repairs & maintenance: −$1,678
• − Management: −$1,678
• − Depreciation: −$5,091
• Taxable income: $986
• Est. tax owed @ 24.0%: −$237
• After-tax cash flow: $3,582/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 — Waggaman

• Score: 61/100
• State rank: #226
• US rank: #17364

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waggaman, LA
• County: Jefferson Parish · 426,999 people
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 32,130
• Household income: $53,597
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 1457.0

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 0.65)
• Race & ethnicity: Black 46% White 36% Hispanic / Latino 13% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Dominican 2%
• Common ancestry: Lithuanian 9% Scottish 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 86% English-only · Spanish 11% Vietnamese 2% French/Haitian/Cajun 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: ▼ -111.56%
• Current HPI: 102.9992
• Rent YoY: ▼ -0.80%
• 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

+3.0% since first listed

7 events — show timeline

• 2026-03-18 Listed $175,000 AcadianaMLS
• 2026-03-18 Listed $175,000 GSREIN
• 2022-12-05 Sold (Public Records) $170,000 Public Records
• 2022-08-09 Price Changed $169,900 GSREIN
• 2022-05-26 Price Changed $179,900 GSREIN
• 2022-03-29 Listed $169,900 AcadianaMLS
• 2002-04-01 Sold (Public Records) — Public Records

Property tax history

+0.7%/yr

Latest (2025): $861 · +0.3% YoY. Source: county tax records.