640 Bonnabel Blvd · Metairie, LA 70005

$290,000

3 bd · 2.5 ba · 2,000 sqft · SingleFamily · 8 Days on market

Built 1946 7,500 sqft lot Est $500k · 42% 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 +15.8/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• Livability +4.4/5.0
• 1% rule +4.0/10.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

3 bedrooms, 2.5 baths, conveniently located on Bonnabel Blvd. near the I-10. 50x150 lot, Flood Zone X, never flooded. Selling As Is, Where Is. No repairs will be made. New roof on front of house in 2021. New AC in front of house in 2023. Hurricane shutters on front of house. Whole home generator system installed although generator itself needs replacing. Please submit lender pre-approval or proof of funds letter with offers. Deposit to be held by Buyers title company. Agents not protected.

Key facts

• Hurricane shutters
• Flood zone x
• New ac

Tags

• FLOOD ZONE X
• NEW ROOF
• NEW AC
• HURRICANE SHUTTERS
• WHOLE HOME GENERATOR SYSTEM

Property features AI

Exterior

• Home design: House
• Construction: About 2,000 sq ft living area
• Exterior features: Lot approximately 7,500 sq ft

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/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 $262k (9.7% below list).
• Recommended offer: $262k (9.7% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.6% in Metairie — 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 87/100 on livability (#1 in LA, #261 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+.
• 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.
• Zoned schools: J.C. Ellis School (math 40% / reading 48%, grade F, #191 of 646 statewide, top 30%, 613 students, 49% FRL); J.D. Meisler Middle School (math 13% / reading 28%, grade F, #161 of 218 statewide, top 76%, 753 students, 50% FRL); Riverdale High School (math 36% / reading 52%, grade F, #62 of 265 statewide, top 23%, 1,019 students, 50% FRL) — zoned schools average 50% FRL vs 70% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.3%/yr); 178 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• This rent runs 35% of the median local income ($89k/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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $84k; list at $290k implies a 245% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $261,953 (9.7% below list)

Questions for the listing agent

1. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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 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: 0.90% ✗
• Cap rate: 6.83%
• Cash-on-cash: 1.92%
• DSCR: 1.09
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $500,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
537 Beverly Garden Dr	0.24mi	3/2.0	2,126 (+6%)	1mo	$232,500	$109	75
504 Brockenbraugh Ct	0.36mi	4/2.5 (+1)	2,077 (+4%)	3mo	$525,000	$253	70
568 E William David Pkwy	0.58mi	3/2.0	1,985 (-1%)	1mo	$420,000	$212	69
417 W William David Pkwy	0.54mi	3/2.0	1,971 (-2%)	3mo	$345,000	$175	68
508 Aurora Ave	0.29mi	3/2.0	1,804 (-10%)	1mo	$475,000	$263	68
546 Brockenbraugh Ct	0.34mi	4/3.0 (+1)	2,100 (+5%)	2mo	$600,000	$286	67
1912 Metairie Ct	0.57mi	3/2.5	1,939 (-3%)	3mo	$484,500	$250	66
2619 Metairie Ct	0.28mi	4/3.0 (+1)	2,160 (+8%)	2mo	$347,110	$161	65
444 Beverly Gardens Dr	0.37mi	3/2.0	1,820 (-9%)	2mo	$472,500	$260	64
2929 Metairie Heights Ave	0.49mi	4/2.0 (+1)	2,146 (+7%)	2mo	$445,700	$208	56
1029 Aurora Ave	0.64mi	4/2.5 (+1)	2,297 (+15%)	0mo	$627,500	$273	40
3200 Ridgeway Dr	0.73mi	3/2.0	1,701 (-15%)	2mo	$419,000	$246	38

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: -16.6%
• Equity multiple: 0.43×
• Total profit: $-46,380
• Equity at exit: $43,240

10-year hold

• IRR: -14.7%
• Equity multiple: 0.27×
• Total profit: $-59,381
• Equity at exit: $25,074

Cash invested: $81,200 (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 70005

• Rents YoY: -0.3%
• Active inventory: 178
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,620 high
• Mortgage (P&I): −$1,521
• Tax from tax record: −$298 /mo · $3,572/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$550
• Net cashflow: $130

Break-even live

Break-even rent $2,455

Max offer price $290,000

Occupancy floor 90%

Sensitivity live

Price	-10% $294	-5% $212	+0% $130	+5% $48	+10% $-34
Rent	-10% $-77	-5% $27	+0% $130	+5% $234	+10% $337
Rate	-1.0pp $276	-0.5pp $204	base $130	+0.5pp $55	+1.0pp $-21

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
728 Bonnabel Blvd Unit 1 Metairie, LA	3.0	2.0	2000	$3,500	$1.75	45d	1	0.12mi
517 Beverly Garden Dr Metairie, LA	3.0	2.0	1700	$2,000	$1.18	46d	1	0.30mi
437 Elmeer Ave Metairie, LA	3.0	2.0	2041	$3,950	$1.94	23d	1	0.45mi
420 E William David Pkwy Metairie, LA	2.0	2.0	1585	$2,000	$1.26	6d	1	0.55mi
1916 Metairie Heights Ave Metairie, LA	4.0	2.0	2250	$2,800	$1.24	25d	1	0.60mi
261 Elmeer Ave Metairie, LA	2.0	1.5	1650	$1,725	$1.05	45d	1	0.60mi
3017 Clifford Dr Metairie, LA	3.0	2.0	1900	$2,500	$1.32	25d	1	0.64mi
517 Rosa Ave Metairie, LA	3.0	2.0	1900	$2,100	$1.11	6d	1	0.68mi
1055 Bonnabel Blvd Metairie, LA	3.0	2.0	1581	$2,650	$1.68	5d	1	0.68mi
1055 Bonnabel Blvd Metairie, LA	3.0	2.0	1581	$2,650	$1.68	4d	1	0.68mi
644 Oaklawn Dr Metairie, LA	3.0	2.0	1504	$2,300	$1.53	16d	1	0.68mi
3108 Ridgeway Dr Metairie, LA	3.0	2.0	1446	$2,100	$1.45	6d	1	0.69mi
218 Aurora Ave Metairie, LA	3.0	2.5	2500	$2,500	$1.00	25d	1	0.71mi
3104 Clifford Dr Metairie, LA	4.0	2.0	2018	$2,700	$1.34	25d	1	0.71mi
801 Rue Burgundy #215 Metairie, LA	2.0	2.0	1763	$3,500	$1.99	45d	1	0.80mi
801 Rue Burgundy #319 Metairie, LA	2.0	2.0	1763	$3,250	$1.84	16d	1	0.80mi
849 Rosa Ave Unit 1 Metairie, LA	4.0	3.0	2392	$2,650	$1.11	25d	1	0.84mi
132 Hesper Ave Metairie, LA	4.0	4.0	2598	$5,500	$2.12	45d	1	0.84mi
130 Helios Ave Metairie, LA	2.0	2.5	1793	$2,600	$1.45	16d	1	0.85mi
209 Rosa Ave Metairie, LA	3.0	2.5	2400	$2,000	$0.83	16d	1	0.86mi
375 Aris Ave Metairie, LA	4.0	2.0	1480	$2,100	$1.42	25d	1	0.95mi
1253 Bonnabel Blvd Metairie, LA	3.0	2.5	1660	$2,350	$1.42	25d	1	1.00mi
2328 Metairie Rd Unit 300 Metairie, LA	2.0	2.0	1576	$3,300	$2.09	45d	1	1.13mi
3011 46th St Metairie, LA	3.0	1.0	1488	$2,200	$1.48	45d	1	1.13mi
261 Hollywood Dr Unit C Metairie, LA	3.0	1.0	1400	$2,300	$1.64	6d	1	1.17mi
1117 Andrews Ave Metairie, LA	3.0	2.0	1770	$2,600	$1.47	45d	1	1.18mi
3708 Saratoga Dr Metairie, LA	3.0	2.5	1700	$1,800	$1.06	45d	1	1.32mi
6256 Bellaire Dr Unit 6254 New Orleans, LA	3.0	2.0	1510	$1,850	$1.23	22d	1	1.34mi
3710 Lilac Ln Unit 2111 Metairie, LA	3.0	2.5	1800	$1,630	$0.91	25d	1	1.34mi
3710 Lilac Ln Unit 2509 Metairie, LA	3.0	2.5	1800	$1,705	$0.95	23d	1	1.34mi
3717 Lilac Ln Metairie, LA	4.0	2.5	2308	$2,350	$1.02	25d	1	1.34mi
428 16th St New Orleans, LA	3.0	2.0	1682	$2,350	$1.40	19d	1	1.35mi
3725 Lilac Ln Metairie, LA	3.0	2.5	1766	$2,200	$1.25	6d	1	1.36mi
309 Lilac St Metairie, LA	3.0	2.5	1750	$1,745	$1.00	45d	1	1.36mi
1437 Ocean Dr Metairie, LA	3.0	2.0	1850	$2,600	$1.41	45d	1	1.37mi
3731 Bunker Hill Dr Metairie, LA	3.0	2.0	1600	$1,900	$1.19	25d	1	1.39mi
3738 S I-10 Service Rd W Metairie, LA	3.0	2.5	1700	$1,650	$0.97	6d	1	1.40mi
2421 Caswell Ln Metairie, LA	3.0	2.0	1450	$1,750	$1.21	6d	1	1.41mi
312 W Esplanade Ave Metairie, LA	3.0	2.5	1400	$1,600	$1.14	45d	1	1.43mi
2520 Caswell Ln Metairie, LA	3.0	2.5	1795	$1,800	$1.00	3d	1	1.43mi

Listing history 7 events

1. 2026-06-21
   days on market $290,000 Active 8 DOM
2. 2026-06-18
   days on market $290,000 Active 5 DOM
3. 2026-06-17
   days on market $290,000 Active 4 DOM
4. 2026-06-16
   days on market $290,000 Active 3 DOM
5. 2026-06-15
   days on market $290,000 Active 2 DOM
6. 2026-06-13
   remarks 494-char remark
7. 2026-06-13
   listed $290,000 Active 1 DOM

ⓘ 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: $3,572 · $298/mo
• Projected year-2 tax: $3,572 · $298/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $31,434
• − Mortgage interest: −$16,245
• − Property taxes: −$3,572
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,515
• − Management: −$2,515
• − Depreciation: −$8,436
• Taxable loss: −$3,298
• Est. tax savings @ 24.0%: +$791
• After-tax cash flow: $2,353/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 — Metairie

• Score: 87/100
• State rank: #1
• US rank: #261

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Metairie, LA
• County: Jefferson Parish · 426,999 people
• City population: 137,978
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 24,088
• Household income: $89,194
• Rent vs Own: 34.9% rent · 65.1% own
• Severe rent burden: 711.0

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: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 13% Two or more races 8% Asian 2% Native American 2% Black 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 21% Slovak 2% Iranian 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 8% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -371.32%
• Current HPI: 142.4955
• Rent YoY: ▼ -0.31%
• 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

+245.2% since first listed

2 events — show timeline

• 2026-06-13 Listed $290,000 ForSaleByOwner.com
• 1985-03-01 Sold (Public Records) $84,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $3,572 · +0.2% YoY. Source: county tax records.