3549 Martinique Ave · Kenner, LA 70065

$399,000

None bd · None ba · 4,230 sqft · MultiFamily · 26 Days on market

7,187 sqft lot Est $321k · 24% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +1.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Fourplex apartment building in high demand area; Potential rental increase; Well established neighborhood; Easy access to major traffic; Good for investors as well as owner occupy.

Key facts

• High demand area
• 7,187 sq ft lot
• 6 parking spots

Tags

• FOURPLEX APARTMENT BUILDING
• HIGH DEMAND AREA
• WELL ESTABLISHED NEIGHBORHOOD
• EASY ACCESS TO MAJOR TRAFFIC

Property features AI

Exterior

• Parking: 6 parking spaces
• Utilities: Public water; Public sewer
• Home design: Residential income property; Quadruplex
• Construction: Brick, metal siding, and other exterior materials; Slab foundation
• Exterior features: 60 x 120 lot dimensions; Lot area approximately 7,187.4 sq ft

Interior

• Kitchen: Dishwasher; Disposal; Refrigerator
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Dryer; Dishwasher; Disposal; Refrigerator
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $399k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $526/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $399k).
• Recommended offer: $393k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 5.3% in Kenner — 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 78/100 on livability (#6 in LA, #2,414 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, employment C-, crime D.
• 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 falling (-4.2%/yr); 292 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• At $6,285/mo this rent would consume 112% of the median local household income ($67k/yr) (locally 1906% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $112k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($393k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 33y 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 $294k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $393,015 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.58% ✓
• Cap rate: 13.91%
• Cash-on-cash: 27.19%
• DSCR: 2.21
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $321,480
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3708 Martinique St	0.21mi	8/4.0	4,000 (-5%)	22mo	$454,000	$114	62
3213 Idaho Ave	0.43mi	—/—	3,739 (-12%)	15mo	$286,000	$76	48
3209 Idaho Ave	0.44mi	6/7.5	3,739 (-12%)	15mo	$256,300	$69	48

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: 12.0%
• Equity multiple: 1.46×
• Total profit: $51,158
• Equity at exit: $59,492

10-year hold

• IRR: 18.4%
• Equity multiple: 2.31×
• Total profit: $146,650
• Equity at exit: $34,498

Cash invested: $111,720 (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 70065

• Rents YoY: -4.2%
• Active inventory: 292
• Price-to-rent: 21.2×

Monthly cashflow live

• Estimated rent: $6,285 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$175 /mo · $2,098/yr
• Insurance: −$166
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,320
• Net cashflow: $2,105

Break-even live

Break-even rent $3,620

Max offer price $399,000

Occupancy floor 62%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,284
Total (4 units)			$6,285

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
114 Gelpi Ave Unit 1 Kenner, LA	3.0	2.0	3000	$2,450	$0.82	44d	1	0.46mi
18 Rue Grenoble Kenner, LA	3.0	2.0	3600	$2,600	$0.72	17d	1	1.15mi

Listing history 32 events

1. 2026-06-18
   days on market $399,000 Active 26 DOM
2. 2026-06-17
   days on market $399,000 Active 25 DOM
3. 2026-06-16
   days on market $399,000 Active 24 DOM
4. 2026-06-15
   days on market $399,000 Active 23 DOM
5. 2026-06-13
   days on market $399,000 Active 21 DOM
6. 2026-06-10
   days on market $399,000 Active 18 DOM
7. 2026-06-09
   days on market $399,000 Active 17 DOM
8. 2026-06-08
   days on market $399,000 Active 16 DOM
9. 2026-06-07
   days on market $399,000 Active 15 DOM
10. 2026-06-03
    days on market $399,000 Active 11 DOM
11. 2026-06-02
    days on market $399,000 Active 10 DOM
12. 2026-06-01
    days on market $399,000 Active 9 DOM
13. 2026-05-31
    days on market $399,000 Active 8 DOM
14. 2026-05-24
    listed $399,000 Active
15. 2025-01-25
    listed $499,000 Active
16. 2025-01-25
    listed $499,000 Active
17. 2008-09-08
    soldstatus $294,000
18. 2008-08-27
    soldstatus
19. 2008-07-21
    listed $299,000
20. 2008-07-21
    listed $299,000
21. 2008-07-21
    listed $299,000
22. 2008-07-21
    listed $299,000
23. 2007-11-26
    listed $299,000
24. 2007-11-26
    listed $299,000
25. 2005-12-02
    soldstatus $206,000
26. 2005-08-18
    soldstatus
27. 2005-04-28
    listed $228,000
28. 2005-04-28
    listed $228,000
29. 1994-04-01
    soldstatus $82,500
30. 1994-03-08
    soldstatus
31. 1993-08-12
    listed $86,500
32. 1993-08-12
    listed $86,500

ⓘ 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: $2,098 · $175/mo
• Projected year-2 tax: $2,194 · $183/mo
• Expected delta: +$96/yr (+$8/mo · 4.6%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $75,420
• − Mortgage interest: −$22,350
• − Property taxes: −$2,098
• − Insurance: −$7,114
• − Repairs & maintenance: −$6,034
• − Management: −$6,034
• − Depreciation: −$11,607
• Taxable income: $20,183
• Est. tax owed @ 24.0%: −$4,844
• After-tax cash flow: $20,417/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 — Kenner

• Score: 78/100
• State rank: #6
• US rank: #2414

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenner, LA
• County: Jefferson Parish · 426,999 people
• City population: 66,707
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 48,936
• Household income: $67,285
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1906.0

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 0.69)
• Race & ethnicity: White 47% Hispanic / Latino 27% Two or more races 15% Black 15% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Lithuanian 9% Slovak 1% Italian 1%
• Foreign-born: 19% · Canada, China, Vietnam
• Languages at home: 72% English-only · Spanish 21% Other Indo-European 3% Arabic 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: ▼ -214.79%
• Current HPI: 139.5115
• Rent YoY: ▼ -4.19%
• 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

+361.3% since first listed

19 events — show timeline

• 2026-05-24 Listed $399,000 GBRMLS
• 2025-01-25 Listed $499,000 GBRMLS
• 2025-01-25 Listed $499,000 AcadianaMLS
• 2008-09-08 Sold (Public Records) $294,000 Public Records
• 2008-08-27 Sold (MLS) — GSREIN
• 2008-07-21 Listed $299,000 GSREIN
• 2008-07-21 Listed $299,000 AcadianaMLS
• 2008-07-21 Listed $299,000 GSREIN
• 2008-07-21 Listed $299,000 AcadianaMLS
• 2007-11-26 Listed $299,000 GSREIN
• 2007-11-26 Listed $299,000 AcadianaMLS
• 2005-12-02 Sold (Public Records) $206,000 Public Records
• 2005-08-18 Sold (MLS) — GSREIN
• 2005-04-28 Listed $228,000 GSREIN
• 2005-04-28 Listed $228,000 AcadianaMLS
• 1994-04-01 Sold (Public Records) $82,500 Public Records
• 1994-03-08 Sold (MLS) — GSREIN
• 1993-08-12 Listed $86,500 GSREIN
• 1993-08-12 Listed $86,500 AcadianaMLS

Property tax history

-1.6%/yr

Latest (2025): $2,098 · -0.4% YoY. Source: county tax records.