209 Ocelot Dr · Arabi, LA 70032

$260,000

3 bd · 2.0 ba · 2,286 sqft · SingleFamily · 317 Days on market

Built 1969 $114/sqft · 31% below area Est $375k · 31% 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 +17.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• Schools +5.0/10.0
• 1% rule +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

**Assumable Mortgage Opportunity with a 2.75% Interest Rate** Welcome to 209 Ocelot Drive--a generously sized 3-bedroom, 2-bath ranch-style home in Arabi offering over 2,200 square feet of living space, contemporary features, and a layout that affords both comfort and functionality. This is an excellent return on investment opportunity for investors, renovators, or owner-occupants looking to do manageable remediation to a well-appointed property. Inside, you'll find expansive living and dining areas with generous natural light throughout leading to a large open kitchen featuring stone countertops, mosaic tile backsplash, rich dark cabinetry, and bar-height seating at two separate counters. This amazing kitchen is also equipped with a refrigerator, built-in microwave, dishwasher, and gas range. Adjacent to the kitchen and living/dining areas, a stylish wet bar with wine rack adds an extra touch of convenience and flair. Toward the rear of the house, a spacious family room opens to a covered patio and fenced backyard--ideal for entertaining or outdoor relaxation. What's more, a Generac generator and storage shed are also included. The oversized primary suite offers a tray ceiling, large walk-in closet, and a spacious en-suite bath with double vanities, a soaking tub, and separate tiled shower. Two additional bedrooms and a second full bath provide space and flexibility for family or guests. A walk-in pantry, large laundry room with cabinetry and a washer/dryer, plus off-street parking round out the home's amenities. With its thoughtful layout, generous square footage, and desirable features - as well as a generator and a backyard shed - 209 Ocelot presents a compelling opportunity to add value in a fast-growing submarket just minutes from downtown New Orleans. What's more, the property is in an X flood zone and has a full coverage policy in place that can be assumed. Schedule your tour today. **Assumable Mortgage Opportunity with a 2.75% Interest Rate**

Key facts

• Wine rack
• Wet bar
• Stone countertops

Tags

• OPEN KITCHEN
• STONE COUNTERTOPS
• MOSAIC TILE BACKSPLASH
• WET BAR
• WINE RACK
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/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 $239k (7.9% below list).
• Recommended offer: $229k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 5.3% in Arabi — 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 71/100 on livability (#45 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, amenities F, commute F.
• Market conditions: 99 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 112 units permitted in St. Bernard Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• St. Bernard County population projected at +89% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 317 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y ago; this cycle's ask has dropped $30k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $199k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $228,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 317 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.92% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.97%
• DSCR: 1.13
• GRM: 9.0

CMA / ARV

• ARV (median comp): $375,464
• List price: $260,000
• Delta: -30.75%
• 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
1921 Schnell Dr	0.29mi	3/2.5	2,217 (-3%)	2mo	$340,000	$153	78
633 Cougar Dr	0.20mi	4/3.5 (+1)	2,302 (+1%)	1mo	$393,000	$171	78
1107 Perrin Dr	0.16mi	4/3.5 (+1)	2,278 (-0%)	6mo	$285,000	$125	76
421 Chinchilla Dr	0.19mi	4/3.5 (+1)	2,300 (+1%)	6mo	$270,000	$117	74
313 Llama Dr	0.08mi	4/3.5 (+1)	2,428 (+6%)	3mo	$405,000	$167	73
901 Cougar Dr	0.22mi	3/2.0	2,023 (-12%)	1mo	$540,000	$267	69
900 Perrin Dr	0.35mi	4/3.0 (+1)	2,453 (+7%)	3mo	$460,000	$188	60
1938 Benjamin St	0.41mi	4/3.0 (+1)	2,453 (+7%)	4mo	$395,000	$161	56
62 Carolyn Ct	0.41mi	3/2.5	2,108 (-8%)	12mo	$275,000	$130	56
1908 Alexander Ave	0.45mi	4/3.0 (+1)	2,406 (+5%)	9mo	$400,000	$166	54
2325 Esteban St	0.55mi	4/2.5 (+1)	2,250 (-2%)	13mo	$360,000	$160	54
813 Rowley Blvd	0.37mi	3/2.5	1,946 (-15%)	19mo	$315,000	$162	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.52×
• Total profit: $-34,867
• Equity at exit: $38,767

10-year hold

• IRR: -4.4%
• Equity multiple: 0.71×
• Total profit: $-20,941
• Equity at exit: $22,480

Cash invested: $72,800 (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 70032

• Active inventory: 99
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,394 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$240 /mo · $2,875/yr
• Insurance: −$108
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $114

Break-even live

Break-even rent $2,250

Max offer price $260,000

Occupancy floor 90%

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7532 Patricia St Arabi, LA	4.0	3.0	2099	$2,200	$1.05	43d	1	0.20mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	2d	1	0.20mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	2d	1	0.20mi
424 Chinchilla Dr Arabi, LA	3.0	2.0	1735	$3,500	$2.02	16d	1	0.21mi
309 Fawn Dr Arabi, LA	3.0	2.5	1745	$2,500	$1.43	1d	1	0.37mi
1529 Schnell Dr Arabi, LA	3.0	2.5	1736	$2,600	$1.50	1d	1	0.39mi
1511 Schnell Dr Arabi, LA	4.0	3.0	1700	$1,850	$1.09	3d	1	0.47mi
1239 Center St Arabi, LA	4.0	2.0	1922	$3,500	$1.82	2d	1	0.73mi
8401 Main Dr Chalmette, LA	4.0	2.5	3271	$2,500	$0.76	43d	1	0.97mi
8413 Benjamin Dr Chalmette, LA	3.0	2.0	1800	$2,300	$1.28	3d	1	1.05mi
6900 Royal St Arabi, LA	3.0	2.0	1579	$5,888	$3.73	2d	1	1.28mi

Listing history 27 events

1. 2026-06-18
   days on market $260,000 Active 317 DOM
2. 2026-06-17
   days on market $260,000 Active 316 DOM
3. 2026-06-16
   days on market $260,000 Active 315 DOM
4. 2026-06-15
   days on market $260,000 Active 314 DOM
5. 2026-06-13
   days on market $260,000 Active 312 DOM
6. 2026-06-10
   days on market $260,000 Active 309 DOM
7. 2026-06-09
   days on market $260,000 Active 308 DOM
8. 2026-06-08
   pricedays on market $260,000 Active 307 DOM
9. 2026-06-07
   days on market $280,000 Active 306 DOM
10. 2026-06-03
    days on market $280,000 Active 302 DOM
11. 2026-06-02
    days on market $280,000 Active 301 DOM
12. 2026-06-01
    days on market $280,000 Active 300 DOM
13. 2026-05-31
    days on market $280,000 Active 299 DOM
14. 2026-03-18
    price $280,000 1985-char remark

    Show marketing remark (2014 chars)

    * * Assumable Mortgage Opportunity with a 2.75% Interest Rate * * Welcome to 209 Ocelot Drive—a generously sized 3-bedroom, 2-bath ranch-style home in Arabi offering over 2,200 square feet of living space, contemporary features, and a layout that affords both comfort and functionality. This is an excellent return on investment opportunity for investors, renovators, or owner-occupants looking to do manageable remediation to a well-appointed property. Inside, you’ll find expansive living and dining areas with generous natural light throughout leading to a large open kitchen featuring stone countertops, mosaic tile backsplash, rich dark cabinetry, and bar-height seating at two separate counters. This amazing kitchen is also equipped with a refrigerator, built-in microwave, dishwasher, and gas range. Adjacent to the kitchen and living/dining areas, a stylish wet bar with wine rack adds an extra touch of convenience and flair. Toward the rear of the house, a spacious family room opens to a covered patio and fenced backyard—ideal for entertaining or outdoor relaxation. What's more, a Generac generator and storage shed are also included. The oversized primary suite offers a tray ceiling, large walk-in closet, and a spacious en-suite bath with double vanities, a soaking tub, and separate tiled shower. Two additional bedrooms and a second full bath provide space and flexibility for family or guests. A walk-in pantry, large laundry room with cabinetry and a washer/dryer, plus off-street parking round out the home's amenities. With its thoughtful layout, generous square footage, and desirable features - as well as a generator and a backyard shed - 209 Ocelot presents a compelling opportunity to add value in a fast-growing submarket just minutes from downtown New Orleans. What's more, the property is in an X flood zone and has a full coverage policy in place that can be assumed. Schedule your tour today. * * Assumable Mortgage Opportunity with a 2.75% Interest Rate * *

15. 2026-03-18
    price $280,000 2014-char remark

    Show marketing remark (2014 chars)

    * * Assumable Mortgage Opportunity with a 2.75% Interest Rate * * Welcome to 209 Ocelot Drive—a generously sized 3-bedroom, 2-bath ranch-style home in Arabi offering over 2,200 square feet of living space, contemporary features, and a layout that affords both comfort and functionality. This is an excellent return on investment opportunity for investors, renovators, or owner-occupants looking to do manageable remediation to a well-appointed property. Inside, you’ll find expansive living and dining areas with generous natural light throughout leading to a large open kitchen featuring stone countertops, mosaic tile backsplash, rich dark cabinetry, and bar-height seating at two separate counters. This amazing kitchen is also equipped with a refrigerator, built-in microwave, dishwasher, and gas range. Adjacent to the kitchen and living/dining areas, a stylish wet bar with wine rack adds an extra touch of convenience and flair. Toward the rear of the house, a spacious family room opens to a covered patio and fenced backyard—ideal for entertaining or outdoor relaxation. What's more, a Generac generator and storage shed are also included. The oversized primary suite offers a tray ceiling, large walk-in closet, and a spacious en-suite bath with double vanities, a soaking tub, and separate tiled shower. Two additional bedrooms and a second full bath provide space and flexibility for family or guests. A walk-in pantry, large laundry room with cabinetry and a washer/dryer, plus off-street parking round out the home's amenities. With its thoughtful layout, generous square footage, and desirable features - as well as a generator and a backyard shed - 209 Ocelot presents a compelling opportunity to add value in a fast-growing submarket just minutes from downtown New Orleans. What's more, the property is in an X flood zone and has a full coverage policy in place that can be assumed. Schedule your tour today. * * Assumable Mortgage Opportunity with a 2.75% Interest Rate * *

16. 2025-08-05
    listed $290,000 Active 1985-char remark

    Show marketing remark (2014 chars)

    * * Assumable Mortgage Opportunity with a 2.75% Interest Rate * * Welcome to 209 Ocelot Drive—a generously sized 3-bedroom, 2-bath ranch-style home in Arabi offering over 2,200 square feet of living space, contemporary features, and a layout that affords both comfort and functionality. This is an excellent return on investment opportunity for investors, renovators, or owner-occupants looking to do manageable remediation to a well-appointed property. Inside, you’ll find expansive living and dining areas with generous natural light throughout leading to a large open kitchen featuring stone countertops, mosaic tile backsplash, rich dark cabinetry, and bar-height seating at two separate counters. This amazing kitchen is also equipped with a refrigerator, built-in microwave, dishwasher, and gas range. Adjacent to the kitchen and living/dining areas, a stylish wet bar with wine rack adds an extra touch of convenience and flair. Toward the rear of the house, a spacious family room opens to a covered patio and fenced backyard—ideal for entertaining or outdoor relaxation. What's more, a Generac generator and storage shed are also included. The oversized primary suite offers a tray ceiling, large walk-in closet, and a spacious en-suite bath with double vanities, a soaking tub, and separate tiled shower. Two additional bedrooms and a second full bath provide space and flexibility for family or guests. A walk-in pantry, large laundry room with cabinetry and a washer/dryer, plus off-street parking round out the home's amenities. With its thoughtful layout, generous square footage, and desirable features - as well as a generator and a backyard shed - 209 Ocelot presents a compelling opportunity to add value in a fast-growing submarket just minutes from downtown New Orleans. What's more, the property is in an X flood zone and has a full coverage policy in place that can be assumed. Schedule your tour today. * * Assumable Mortgage Opportunity with a 2.75% Interest Rate * *

17. 2025-08-05
    listed $290,000 Active 2014-char remark

    Show marketing remark (2014 chars)

    * * Assumable Mortgage Opportunity with a 2.75% Interest Rate * * Welcome to 209 Ocelot Drive—a generously sized 3-bedroom, 2-bath ranch-style home in Arabi offering over 2,200 square feet of living space, contemporary features, and a layout that affords both comfort and functionality. This is an excellent return on investment opportunity for investors, renovators, or owner-occupants looking to do manageable remediation to a well-appointed property. Inside, you’ll find expansive living and dining areas with generous natural light throughout leading to a large open kitchen featuring stone countertops, mosaic tile backsplash, rich dark cabinetry, and bar-height seating at two separate counters. This amazing kitchen is also equipped with a refrigerator, built-in microwave, dishwasher, and gas range. Adjacent to the kitchen and living/dining areas, a stylish wet bar with wine rack adds an extra touch of convenience and flair. Toward the rear of the house, a spacious family room opens to a covered patio and fenced backyard—ideal for entertaining or outdoor relaxation. What's more, a Generac generator and storage shed are also included. The oversized primary suite offers a tray ceiling, large walk-in closet, and a spacious en-suite bath with double vanities, a soaking tub, and separate tiled shower. Two additional bedrooms and a second full bath provide space and flexibility for family or guests. A walk-in pantry, large laundry room with cabinetry and a washer/dryer, plus off-street parking round out the home's amenities. With its thoughtful layout, generous square footage, and desirable features - as well as a generator and a backyard shed - 209 Ocelot presents a compelling opportunity to add value in a fast-growing submarket just minutes from downtown New Orleans. What's more, the property is in an X flood zone and has a full coverage policy in place that can be assumed. Schedule your tour today. * * Assumable Mortgage Opportunity with a 2.75% Interest Rate * *

18. 2016-09-28
    soldstatus $199,000
19. 2016-09-27
    soldstatus $199,000 Sold
20. 2016-07-08
    historical Pending Continue to Show
21. 2016-06-21
    listed $215,000 Active
22. 2016-06-21
    listed $215,000
23. 2011-05-02
    soldstatus $29,000
24. 2011-04-27
    soldstatus $29,000
25. 2011-03-03
    listed $37,500
26. 2011-03-03
    listed $37,500
27. 1997-07-28
    soldstatus $80,000

ⓘ 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: $2,875 · $240/mo
• Projected year-2 tax: $2,875 · $240/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,732
• − Mortgage interest: −$14,564
• − Property taxes: −$2,875
• − Insurance: −$2,098
• − Repairs & maintenance: −$2,299
• − Management: −$2,299
• − Depreciation: −$7,564
• Taxable loss: −$2,965
• Est. tax savings @ 24.0%: +$712
• After-tax cash flow: $2,076/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)

No district data.

Livability — Arabi

• Score: 71/100
• State rank: #45
• US rank: #6891

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Arabi, LA
• City population: 4,436
• Population (ZIP): 4,436

Population outlook (St. Bernard County) Hauer SSP2

• Today (2025): 66,513 people
• By 2030: 77,768 · +16.9%
• By 2040: 101,296 · +52.3%
• By 2050: 125,770 · +89.1%
• By 2075: 188,160 · +182.9%
• By 2100: 239,339 · +259.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 60% Black 18% Hispanic / Latino 14% Two or more races 10% Asian 4%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 13% Serbian 1% Italian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 86% English-only · Spanish 4% Other Indo-European 3% Arabic 2%

Political lean MEDSL · St. Bernard

• 2024 margin: Strong R (+29.3) · D 34.5% · R 63.8% · Other 1.7%
• 2008→2024 swing: +16.1pp toward D · 2008: -45.4pp · 2024: -29.3pp
• All cycles: 2024: R+29.3 2020: R+28.5 2016: R+33.4 2012: R+24.7 2008: R+45.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.18%
• Current HPI: 224.6827
• Rent YoY: —
• Metro: —
• 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

+250.0% since first listed

14 events — show timeline

• 2026-03-18 Price Changed $280,000 AcadianaMLS
• 2026-03-18 Price Changed $280,000 GSREIN
• 2025-08-05 Listed $290,000 GSREIN
• 2025-08-05 Listed $290,000 AcadianaMLS
• 2016-09-28 Sold (Public Records) $199,000 Public Records
• 2016-09-27 Sold (MLS) $199,000 GSREIN
• 2016-07-08 Contingent — GSREIN
• 2016-06-21 Listed $215,000 GSREIN
• 2016-06-21 Listed $215,000 AcadianaMLS
• 2011-05-02 Sold (Public Records) $29,000 Public Records
• 2011-04-27 Sold (MLS) $29,000 GSREIN
• 2011-03-03 Listed $37,500 GSREIN
• 2011-03-03 Listed $37,500 AcadianaMLS
• 1997-07-28 Sold (Public Records) $80,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $2,875 · -0.7% YoY. Source: county tax records.