382 Fairway Dr #11 · Laplace, LA 70068

$99,900

2 bd · 2.5 ba · 1,100 sqft · SingleFamily · 97 Days on market

Built 1981 Fair condition $91/sqft · 21% below area Est $127k · 21% under $317/mo HOA · 22% 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 +20.7/30.0
• ARV discount +15.0/15.0
• 1% rule +9.5/10.0
• DSCR +6.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

One of few condos for sale in Fairway Village. These units have 2.5 baths & covered parking. Corner condo with NO neighbor to the right side. Can be sold with R.D. & V.A loans NOT on FHA approved list. Seller asking to close @ Choice Title & being sold "AS IS" Condition.

Key facts

• $317 HOA
• 2 parking spots
• Built 1981

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $70 ($836/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 4.8% in Laplace — 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 70/100 on livability (#61 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• St. John The Baptist Parish (suburban): math 13% / reading 25% proficiency, ranked #68 of 98 in LA (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Laplace Elementary School (math 10% / reading 30%, grade F, #443 of 646 statewide, top 69%, 787 students, 38% FRL); East St. John Preparatory Academy (math 6% / reading 16%, grade F, #195 of 218 statewide, top 90%, 392 students, 63% FRL); East St. John High School (math 19% / reading 25%, grade F, #171 of 265 statewide, top 66%, 1,459 students, 48% FRL) — zoned schools average 50% FRL vs 82% district-wide (33 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 179 active listings in the ZIP; 61 units permitted in St. John the Baptist Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• St. John the Baptist County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 29y ago; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 22% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.45% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.84%
• DSCR: 1.26
• GRM: 5.8

CMA / ARV

• ARV (median comp): $127,042
• List price: $99,900
• Delta: -21.36%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
387 Highland Dr	0.15mi	3/2.0 (+1)	1,146 (+4%)	6mo	$180,000	$157	74
308 Linwood Dr	0.44mi	3/2.0 (+1)	1,107 (+1%)	1mo	$175,000	$158	71
388 Hester Dr	0.08mi	3/2.0 (+1)	1,225 (+11%)	3mo	$186,000	$152	68
365 Cottage Ct	0.13mi	3/2.0 (+1)	1,200 (+9%)	6mo	$141,000	$118	67
308 Arlington Dr	0.61mi	2/1.0	1,200 (+9%)	5mo	$158,500	$132	46
729 Iberville St	0.75mi	3/2.0 (+1)	1,152 (+5%)	7mo	$135,000	$117	44
734 Bienville St	0.72mi	3/2.0 (+1)	1,237 (+12%)	2mo	$127,400	$103	37
2105 N Sugar Ridge Rd	0.71mi	3/2.0 (+1)	1,171 (+6%)	15mo	$94,900	$81	37
341 Arlington Dr	0.57mi	3/1.5 (+1)	1,231 (+12%)	10mo	$134,000	$109	36
197 Concord Dr	0.69mi	3/1.5 (+1)	1,255 (+14%)	13mo	$185,000	$147	25

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: -11.3%
• Equity multiple: 0.59×
• Total profit: $-11,495
• Equity at exit: $14,895

10-year hold

• IRR: -1.7%
• Equity multiple: 0.88×
• Total profit: $-3,252
• Equity at exit: $8,638

Cash invested: $27,972 (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 70068

• Home prices YoY: -20.1%
• Active inventory: 179
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,447 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$317
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $70

Break-even live

Break-even rent $1,359

Max offer price $99,900

Occupancy floor 90%

Sensitivity live

Price	-10% $139	-5% $104	+0% $70	+5% $35	+10% $1
Rent	-10% $-45	-5% $12	+0% $70	+5% $127	+10% $184
Rate	-1.0pp $120	-0.5pp $95	base $70	+0.5pp $44	+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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $317 · $3,804/yr

Listing history 23 events

1. 2026-06-21
   days on market $99,900 Active 97 DOM
2. 2026-06-19
   days on market $99,900 Active 95 DOM
3. 2026-06-18
   days on market $99,900 Active 94 DOM
4. 2026-06-17
   days on market $99,900 Active 93 DOM
5. 2026-06-17
   price $99,900 Active 92 DOM
6. 2026-06-16
   days on market $109,900 Active 92 DOM
7. 2026-06-15
   days on market $109,900 Active 91 DOM
8. 2026-06-14
   days on market $109,900 Active 89 DOM
9. 2026-06-13
   days on market $109,900 Active 88 DOM
10. 2026-06-10
    days on market $109,900 Active 86 DOM
11. 2026-06-09
    days on market $109,900 Active 85 DOM
12. 2026-06-08
    days on market $109,900 Active 84 DOM
13. 2026-06-07
    days on market $109,900 Active 83 DOM
14. 2026-06-02
    days on market $109,900 Active 78 DOM
15. 2026-06-01
    days on market $109,900 Active 77 DOM
16. 2026-05-31
    days on market $109,900 Active 76 DOM
17. 2026-05-30
    days on market $109,900 Active 75 DOM
18. 2026-03-25
    price $109,900 293-char remark

    Show marketing remark (300 chars)

    One of few condos for sale in Fairway Village. These units have 2.5 baths & covered parking. Corner condo with NO neighbor to the right side. Can be sold with R. D. & V. A loans NOT on FHA approved list. Seller asking to close @ Choice Title & being sold "AS IS" Condition.

19. 2026-03-25
    price $109,900 300-char remark

    Show marketing remark (300 chars)

    One of few condos for sale in Fairway Village. These units have 2.5 baths & covered parking. Corner condo with NO neighbor to the right side. Can be sold with R. D. & V. A loans NOT on FHA approved list. Seller asking to close @ Choice Title & being sold "AS IS" Condition.

20. 2026-03-16
    listed $119,900 Active 293-char remark

    Show marketing remark (300 chars)

    One of few condos for sale in Fairway Village. These units have 2.5 baths & covered parking. Corner condo with NO neighbor to the right side. Can be sold with R. D. & V. A loans NOT on FHA approved list. Seller asking to close @ Choice Title & being sold "AS IS" Condition.

21. 2026-03-16
    listed $119,900 Active 300-char remark

    Show marketing remark (300 chars)

    One of few condos for sale in Fairway Village. These units have 2.5 baths & covered parking. Corner condo with NO neighbor to the right side. Can be sold with R. D. & V. A loans NOT on FHA approved list. Seller asking to close @ Choice Title & being sold "AS IS" Condition.

22. 2009-09-02
    listed $113,900
23. 1997-08-04
    listed $50,000

ⓘ 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 7/10 Severe FEMA zone X (shaded) · 91% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 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: $17,369
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$1,297
• − Repairs & maintenance: −$1,390
• − Management: −$1,390
• − HOA: −$3,804
• − Depreciation: −$2,906
• Taxable loss: −$511
• Est. tax savings @ 24.0%: +$123
• After-tax cash flow: $958/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

Fair 45/100 Moderate rehab

This corner condo in Fairway Village requires moderate repairs to its exterior and bathrooms, but has good interior walls and flooring. Updating the exterior and bathrooms would significantly increase its resale value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major exterior paint — Peeling and chipping
• Minor bathroom fixtures — Some wear and tear

Value-add opportunities

• Resale paint exterior — Fresh paint can significantly improve curb appeal
• Resale update bathrooms — Modernizing bathrooms can attract more buyers
• Resale update kitchen — A fresh kitchen can make the home more appealing to potential buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
exterior paint · Peeling and chipping	Major	$15,000–50,000
bathroom fixtures · Some wear and tear	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Resale paint exterior — Fresh paint can significantly improve curb appeal ↑
• Resale update bathrooms — Modernizing bathrooms can attract more buyers ↑
• Resale update kitchen — A fresh kitchen can make the home more appealing to potential buyers ↑

ⓘ 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: St. John The Baptist Parish
• NCES district ID: 2201530
• Math proficiency: 13% ▼ -42.00%
• Reading proficiency: 25% ▼ -39.00%
• Median HH income: $50,280
• Composite: 17.07/100
• National rank: #9120
• State rank: #68 of 98 in LA

Livability — Laplace

• Score: 70/100
• State rank: #61
• US rank: #7898

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laplace, LA
• County: Saint John the Baptist Parish · 32,720 people
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 32,720
• Household income: $68,459
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 750.0

Population outlook (St. John the Baptist County) Hauer SSP2

• Today (2025): 40,972 people
• By 2030: 39,295 · -4.1%
• By 2040: 35,902 · -12.4%
• By 2050: 32,988 · -19.5%
• By 2075: 28,661 · -30.0%
• By 2100: 26,456 · -35.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Black 51% White 34% Hispanic / Latino 9% Two or more races 5% Asian 1%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Lithuanian 11%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% Tagalog/Filipino 1%

Political lean MEDSL · St. John the Baptist

• 2024 margin: Strong D (+29.1) · D 64.0% · R 34.8% · Other 1.2%
• 2008→2024 swing: +12.9pp toward D · 2008: 16.2pp · 2024: 29.1pp
• All cycles: 2024: D+29.1 2020: D+28.2 2016: D+24.5 2012: D+26.3 2008: D+16.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.04%
• Current HPI: 239.1429
• 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

+119.8% since first listed

6 events — show timeline

• 2026-03-25 Price Changed $109,900 AcadianaMLS
• 2026-03-25 Price Changed $109,900 GSREIN
• 2026-03-16 Listed $119,900 GSREIN
• 2026-03-16 Listed $119,900 AcadianaMLS
• 2009-09-02 Listed $113,900 AcadianaMLS
• 1997-08-04 Listed $50,000 AcadianaMLS