70 72 Phillip Ct · Chalmette, LA 70043

$249,000

5 bd · 3.0 ba · 2,000 sqft · MultiFamily · 16 Days on market

Built 1987 Est $254k · at est.

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Why this score? — see what drove the B- 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 +28.4/30.0
• DSCR +10.0/10.0
• ARV discount +8.4/15.0
• 1% rule +6.9/10.0
• Schools +5.0/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Long term tenants. Well maintained. 2 bedrooms, one bath in the front unit and 3 bedrooms, 2 baths in rear unit. Great investment or live on one side and earn income from the other unit. Flood zone X means very low flood insurance.Must see to appreciate.

Key facts

• 2 parking spots
• Built 1987
• Listed 15 days

Property features AI

Exterior

• Parking: Off-street parking with two spaces via driveway
• Utilities: Public water; Public sewer
• Home design: Single-story property; Brick construction; Slab foundation; Shingle roof; Property was completely rebuilt after Hurricane Katrina (2005) and fully renovated in 2007
• Construction: Brick construction; Shingle roof; Slab foundation; Rebuilt after 2005 and renovated in 2007
• Exterior features: City lot, rectangular shape; Permeable paving

Interior

• Bedrooms: 2-unit property (total units: 2)
• Bathrooms: 3 full bathrooms (total)
• Heating & cooling: Central heating (dual system); Central air conditioning
• Interior features: Very good condition; Permeable paving
• Laundry & utility: Tenants pay electricity and water

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $249k.

Deal economics

• At list price, monthly cash flow is $742 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $245k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 5.5% in Chalmette — 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 65/100 on livability (#137 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.
• Market conditions: Rents rising (+3.1%/yr); 209 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 112 units permitted in St. Bernard Parish in 2024 (0 in 5+ unit buildings).
• At $2,973/mo this rent would consume 65% of the median local household income ($55k/yr) (locally 881% 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 $2k of loan paydown is wiped out by about $7k 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.
• At projected returns (-3.0% appreciation + 3.1% rent growth), your $70k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($245k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $55k; list at $249k implies a 353% gain — meaningful room to come down on a strong offer.

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 $245,265 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.19% ✓
• Cap rate: 10.19%
• Cash-on-cash: 13.91%
• DSCR: 1.62
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $254,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
74-76 Phillip Ct	0.01mi	4/2.0 (-1)	1,920 (-4%)	1mo	$240,000	$125	82
3521 23 Kings Dr	0.32mi	5/4.0	1,996 (-0%)	3mo	$354,000	$177	78
3509-3511 Jupiter Dr	0.19mi	5/3.0	2,250 (+12%)	2mo	$263,000	$117	69
2724 26 Pakenham Dr	0.50mi	5/3.0	1,966 (-2%)	8mo	$249,000	$127	67
3705-07 Juno Dr	0.23mi	6/4.0 (+1)	2,085 (+4%)	10mo	$350,000	$168	65
8512 14 Valor Dr	0.28mi	4/2.0 (-1)	1,933 (-3%)	11mo	$250,000	$129	63
4005-07 Jupiter Dr	0.48mi	5/2.5	2,048 (+2%)	11mo	$230,000	$112	62
9109 Atreus St	0.53mi	4/3.5 (-1)	1,980 (-1%)	9mo	$170,000	$86	59
9025-27 Atreus St	0.52mi	4/4.0 (-1)	2,000 (0%)	14mo	$196,000	$98	55
4017-19 Jupiter Dr	0.50mi	4/2.0 (-1)	1,804 (-10%)	11mo	$207,000	$115	42
3817 19 Juno Dr	0.34mi	4/2.0 (-1)	1,700 (-15%)	14mo	$255,000	$150	39
9101-9103 Atreus St	0.52mi	4/4.0 (-1)	1,700 (-15%)	11mo	$243,500	$143	32

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 · 3.11% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.10×
• Total profit: $7,189
• Equity at exit: $37,127

10-year hold

• IRR: 12.3%
• Equity multiple: 1.98×
• Total profit: $68,335
• Equity at exit: $21,529

Cash invested: $69,720 (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 70043

• Rents YoY: 3.1%
• Active inventory: 209
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $2,973 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$131 /mo · $1,573/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$624
• Net cashflow: $742

Break-even live

Break-even rent $2,034

Max offer price $249,000

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,445
1× unit	3	2	$1,528
Total (2 units)			$2,973

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	1.40mi

Listing history 11 events

1. 2026-06-18
   days on market $249,000 Active 16 DOM
2. 2026-06-17
   days on market $249,000 Active 15 DOM
3. 2026-06-16
   days on market $249,000 Active 14 DOM
4. 2026-06-15
   days on market $249,000 Active 13 DOM
5. 2026-06-13
   days on market $249,000 Active 11 DOM
6. 2026-06-10
   days on market $249,000 Active 8 DOM
7. 2026-06-09
   days on market $249,000 Active 7 DOM
8. 2026-06-08
   days on market $249,000 Active 6 DOM
9. 2026-06-07
   days on market $249,000 Active 5 DOM
10. 2026-06-03
    remarks 255-char remark

    Show marketing remark (254 chars)

    Long term tenants. Well maintained. 2 bedrooms, one bath in the front unit and 3 bedrooms, 2 baths in rear unit. Great investment or live on one side and earn income from the other unit. Flood zone X means very low flood insurance.Must see to appreciate.

11. 2026-06-03
    listed $249,000 Active 1 DOM

    Show marketing remark (254 chars)

    Long term tenants. Well maintained. 2 bedrooms, one bath in the front unit and 3 bedrooms, 2 baths in rear unit. Great investment or live on one side and earn income from the other unit. Flood zone X means very low flood insurance.Must see to appreciate.

ⓘ 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: $1,573 · $131/mo
• Projected year-2 tax: $1,573 · $131/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: $35,676
• − Mortgage interest: −$13,948
• − Property taxes: −$1,573
• − Insurance: −$2,042
• − Repairs & maintenance: −$2,854
• − Management: −$2,854
• − Depreciation: −$7,244
• Taxable income: $5,161
• Est. tax owed @ 24.0%: −$1,239
• After-tax cash flow: $7,661/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 — Chalmette

• Score: 65/100
• State rank: #137
• US rank: #12500

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chalmette, LA
• County: Saint Bernard Parish · 22,638 people
• City population: 22,638
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 22,638
• Household income: $55,068
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 881.0

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 0.61)
• Race & ethnicity: White 55% Black 26% Hispanic / Latino 12% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 13% Slovak 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 88% English-only · Spanish 8% Arabic 1% Vietnamese 1%

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: ▼ -211.77%
• Current HPI: 194.8123
• Rent YoY: ▲ 3.11%
• 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

+352.7% since first listed

4 events — show timeline

• 2026-06-03 Listed $249,000 AcadianaMLS
• 2026-06-03 Listed $240,000 GSREIN
• 2026-06-03 Price Changed $249,000 GSREIN
• 2007-04-23 Sold (Public Records) $55,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,573 · -0.7% YoY. Source: county tax records.