228 Azalea Dr · Waggaman, LA 70094

$180,000

4 bd · 1.0 ba · 1,554 sqft · SingleFamily · 68 Days on market

Built 1964 5,501 sqft lot $116/sqft · 9% below area Est $198k · 9% 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 +23.7/30.0
• ARV discount +11.5/15.0
• DSCR +7.6/10.0
• 1% rule +5.2/10.0
• Livability +3.1/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unlock the potential at 228 Azalea Dr. , the perfect canvas for your next project or dream home. Set on a generous lot, this home features a classic brick exterior, a covered front porch, and ample driveway parking with room for multiple vehicles, boats, or recreational equipment. Inside, you’ll find a flexible layout with multiple living areas and generously sized rooms. The kitchen offers plenty of cabinetry and workspace. The multiple flexible-use rooms are ideal for guest rooms, a home office, hobby space or additional storage. Step outside to a sizable backyard complete with a large storage shed, covered patio area, and plenty of room for entertaining, gardening, or future enhancements. Whether you’re an investor or buyer, this property presents a rare opportunity to create something truly special in a convenient Waggaman location.

Key facts

• Covered front porch
• Brick exterior
• Flexible layout

Tags

• BRICK EXTERIOR
• COVERED FRONT PORCH
• AMPLE DRIVEWAY PARKING
• FLEXIBLE LAYOUT
• MULTIPLE LIVING AREAS
• PLENTY OF CABINETRY

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.7% in Waggaman — 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 61/100 on livability (#226 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D, crime F, amenities F.
• 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 soft (-0.8%/yr); 186 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• This rent runs 41% of the median local income ($54k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($169k) 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 $85k; list at $180k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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: 1.02% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.12%
• DSCR: 1.36
• GRM: 8.1

CMA / ARV

• ARV (median comp): $197,645
• List price: $180,000
• Delta: -8.93%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
361 Helis Dr	0.31mi	4/2.0	1,600 (+3%)	3mo	$160,000	$100	74
28 Imgoene St	0.55mi	4/2.0	1,556 (+0%)	3mo	$231,750	$149	68
33 Judith St	0.27mi	3/2.0 (-1)	1,403 (-10%)	1mo	$179,900	$128	61
42 Cynthia St	0.43mi	4/2.0	1,644 (+6%)	7mo	$193,000	$117	61
30 Helis Dr	0.20mi	3/1.0 (-1)	1,326 (-15%)	0mo	$200,000	$151	61
7 Sarah St	0.45mi	3/1.0 (-1)	1,425 (-8%)	1mo	$138,500	$97	60
48 Duffy St	0.33mi	4/2.0	1,724 (+11%)	5mo	$185,000	$107	58
304 Jeffer Dr	0.43mi	3/2.0 (-1)	1,719 (+11%)	10mo	$227,000	$132	45
321 Jeffer Dr Unit DR	0.42mi	3/2.0 (-1)	1,355 (-13%)	7mo	$135,000	$100	44
500 Helis Dr	0.63mi	4/2.0	1,386 (-11%)	5mo	$254,900	$184	44
27 Sharen Pl	0.61mi	4/2.0	1,729 (+11%)	7mo	$205,000	$119	43
120 Gardenia Ln	0.50mi	3/2.0 (-1)	1,320 (-15%)	1mo	$115,000	$87	42

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: -7.1%
• Equity multiple: 0.74×
• Total profit: $-12,901
• Equity at exit: $26,839

10-year hold

• IRR: -1.4%
• Equity multiple: 0.91×
• Total profit: $-4,361
• Equity at exit: $15,563

Cash invested: $50,400 (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 70094

• Rents YoY: -0.8%
• Active inventory: 186
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,845 high
• Mortgage (P&I): −$944
• Tax from tax record: −$97 /mo · $1,170/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $341

Break-even live

Break-even rent $1,413

Max offer price $180,000

Occupancy floor 77%

Sensitivity live

Price	-10% $443	-5% $392	+0% $341	+5% $290	+10% $239
Rent	-10% $195	-5% $268	+0% $341	+5% $414	+10% $487
Rate	-1.0pp $432	-0.5pp $387	base $341	+0.5pp $294	+1.0pp $247

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 Azalea Dr Westwego, LA	3.0	1.0	1300	$1,675	$1.29	5d	1	0.03mi
240 Azalea Dr Westwego, LA	3.0	1.0	1100	$1,600	$1.45	44d	1	0.04mi
240 Azalea Dr Westwego, LA	3.0	1.0	1100	$1,480	$1.35	24d	1	0.04mi
371 Joseph Pl Westwego, LA	3.0	1.0	1090	$1,700	$1.56	15d	1	0.35mi
30 Imogene St Westwego, LA	3.0	2.0	1300	$1,849	$1.42	44d	1	0.56mi
128 Phyllis Ct New Orleans, LA	3.0	2.0	1264	$2,400	$1.90	24d	1	1.09mi
129 Stewart Ave New Orleans, LA	3.0	1.0	1466	$1,950	$1.33	24d	1	1.11mi
147 Moss Ln New Orleans, LA	3.0	2.0	1665	$3,000	$1.80	22d	1	1.26mi
10125 Stacy Ct New Orleans, LA	3.0	2.0	1950	$2,495	$1.28	21d	1	1.32mi
10613 Chadwick Dr New Orleans, LA	3.0	2.0	1460	$2,200	$1.51	2d	1	1.40mi

Listing history 17 events

1. 2026-06-18
   days on market $180,000 Active 68 DOM
2. 2026-06-17
   days on market $180,000 Active 67 DOM
3. 2026-06-16
   days on market $180,000 Active 66 DOM
4. 2026-06-15
   days on market $180,000 Active 65 DOM
5. 2026-06-13
   days on market $180,000 Active 63 DOM
6. 2026-06-10
   days on market $180,000 Active 60 DOM
7. 2026-06-09
   days on market $180,000 Active 59 DOM
8. 2026-06-08
   days on market $180,000 Active 58 DOM
9. 2026-06-07
   days on market $180,000 Active 57 DOM
10. 2026-06-03
    days on market $180,000 Active 53 DOM
11. 2026-06-02
    days on market $180,000 Active 52 DOM
12. 2026-06-01
    days on market $180,000 Active 51 DOM
13. 2026-05-31
    days on market $180,000 Active 50 DOM
14. 2026-04-10
    listed $180,000 Active 860-char remark

    Show marketing remark (847 chars)

    Unlock the potential at 228 Azalea Dr., the perfect canvas for your next project or dream home. Set on a generous lot, this home features a classic brick exterior, a covered front porch, and ample driveway parking with room for multiple vehicles, boats, or recreational equipment. Inside, you'll find a flexible layout with multiple living areas and generously sized rooms. The kitchen offers plenty of cabinetry and workspace. The multiple flexible-use rooms are ideal for guest rooms, a home office, hobby space or additional storage. Step outside to a sizable backyard complete with a large storage shed, covered patio area, and plenty of room for entertaining, gardening, or future enhancements. Whether you're an investor or buyer, this property presents a rare opportunity to create something truly special in a convenient Waggaman location.

15. 2026-04-10
    listed $180,000 Active 847-char remark

    Show marketing remark (847 chars)

    Unlock the potential at 228 Azalea Dr., the perfect canvas for your next project or dream home. Set on a generous lot, this home features a classic brick exterior, a covered front porch, and ample driveway parking with room for multiple vehicles, boats, or recreational equipment. Inside, you'll find a flexible layout with multiple living areas and generously sized rooms. The kitchen offers plenty of cabinetry and workspace. The multiple flexible-use rooms are ideal for guest rooms, a home office, hobby space or additional storage. Step outside to a sizable backyard complete with a large storage shed, covered patio area, and plenty of room for entertaining, gardening, or future enhancements. Whether you're an investor or buyer, this property presents a rare opportunity to create something truly special in a convenient Waggaman location.

16. 2018-11-27
    soldstatus $85,000
17. 1994-11-01
    soldstatus

ⓘ 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: $1,170 · $97/mo
• Projected year-2 tax: $1,170 · $97/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 6/10 Major FEMA zone X · 55% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 19 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: $22,139
• − Mortgage interest: −$10,083
• − Property taxes: −$1,170
• − Insurance: −$900
• − Repairs & maintenance: −$1,771
• − Management: −$1,771
• − Depreciation: −$5,236
• Taxable income: $1,208
• Est. tax owed @ 24.0%: −$290
• After-tax cash flow: $3,803/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 — Waggaman

• Score: 61/100
• State rank: #226
• US rank: #17364

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waggaman, LA
• County: Jefferson Parish · 426,999 people
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 32,130
• Household income: $53,597
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 1457.0

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 0.65)
• Race & ethnicity: Black 46% White 36% Hispanic / Latino 13% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Dominican 2%
• Common ancestry: Lithuanian 9% Scottish 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 86% English-only · Spanish 11% Vietnamese 2% French/Haitian/Cajun 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: ▼ -111.56%
• Current HPI: 102.9992
• Rent YoY: ▼ -0.80%
• 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

+111.8% since first listed

4 events — show timeline

• 2026-04-10 Listed $180,000 AcadianaMLS
• 2026-04-10 Listed $180,000 GSREIN
• 2018-11-27 Sold (Public Records) $85,000 Public Records
• 1994-11-01 Sold (Public Records) — Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,170 · +0.3% YoY. Source: county tax records.