6116 Loraine St · Metairie, LA 70003

$295,000

3 bd · 2.0 ba · 1,908 sqft · SingleFamily · 81 Days on market

Built 1961 6,960 sqft lot $155/sqft · at area comps Est $309k · at est.

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Why this score? — see what drove the D+ 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 +16.1/30.0
• ARV discount +9.5/15.0
• DSCR +5.0/10.0
• Livability +4.4/5.0
• 1% rule +3.1/10.0
• Rent growth +3.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GEORGEOUS...COMPLETE RENOVATION...3 BEDROOM, 2 BATH HOME HAS AN OPEN FLOOR PLAN AND A BAY WINDOW. Everything has been updated including roof, paint, flooring, lighting, fencing, kitchen and bathrooms. The closets feature custom built-ins for the home owners. A patio with NEW concrete in backyard will be the perfect spot to relax after a long day. Come tour this Beautiful home before it gets away. Special grant money available to qualified buyers. Schedule your viewing today.

Key facts

• Open floor plan
• Complete renovation
• Bay window

Tags

• COMPLETE RENOVATION
• OPEN FLOOR PLAN
• BAY WINDOW
• CUSTOM BUILT-INS
• NEW CONCRETE PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $87 ($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 $240k (18.6% below list).
• Recommended offer: $240k (18.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Rudolph Matas School (math 33% / reading 45%, grade F, #238 of 646 statewide, top 37%, 609 students, 56% FRL); T.H. Harris Middle School (math 8% / reading 24%, grade F, #180 of 218 statewide, top 83%, 707 students, 61% FRL); East Jefferson High School (math 18% / reading 35%, grade F, #148 of 265 statewide, top 56%, 1,348 students, 55% FRL).
• Market conditions: Rents rising (+2.1%/yr); 227 active listings in the ZIP; 28 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 38% of the median local income ($76k/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

• It's been on market 81 days — a 6% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $52k; list at $295k implies a 467% 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 $240,189 (18.6% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.81% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.23%
• DSCR: 1.10
• GRM: 10.2

CMA / ARV

• ARV (median comp): $308,802
• List price: $295,000
• Delta: -4.47%
• 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
1017 Airline Park Blvd	0.27mi	4/2.0 (+1)	1,832 (-4%)	5mo	$274,900	$150	72
601 Airline Park Blvd	0.33mi	3/3.0	1,803 (-6%)	1mo	$246,000	$136	71
1608 Princeton St	0.33mi	4/2.5 (+1)	2,063 (+8%)	1mo	$245,000	$119	63
1304 Kathleen Ave	0.40mi	3/2.0	1,682 (-12%)	2mo	$361,000	$215	60
1109 David Dr	0.65mi	3/2.5	1,994 (+4%)	0mo	$385,000	$193	60
1613 Riviere Ave	0.42mi	3/2.0	1,683 (-12%)	2mo	$141,900	$84	59
1216 Carnation Ave	0.69mi	4/2.5 (+1)	1,950 (+2%)	1mo	$355,000	$182	56
2101 Riviere Ave	0.72mi	4/2.5 (+1)	2,000 (+5%)	1mo	$365,500	$183	51
1209 Colony Pl	0.51mi	4/2.0 (+1)	1,650 (-14%)	4mo	$267,000	$162	46
1317 Frankel Ave	0.66mi	3/2.0	1,635 (-14%)	2mo	$290,000	$177	43
504 Colony Pl	0.70mi	3/2.5	2,165 (+14%)	0mo	$434,900	$201	43
501 Colony Pl	0.73mi	4/2.0 (+1)	2,150 (+13%)	1mo	$268,000	$125	39

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 · 2.15% rent growth · sell at horizon

5-year hold

• IRR: -15.2%
• Equity multiple: 0.46×
• Total profit: $-44,399
• Equity at exit: $43,985

10-year hold

• IRR: -8.0%
• Equity multiple: 0.51×
• Total profit: $-40,161
• Equity at exit: $25,506

Cash invested: $82,600 (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 70003

• Rents YoY: 2.1%
• Active inventory: 227
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,402 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$74 /mo · $889/yr
• Insurance: −$123
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $87

Break-even live

Break-even rent $2,292

Max offer price $295,000

Occupancy floor 91%

Sensitivity live

Price	-10% $254	-5% $171	+0% $87	+5% $4	+10% $-80
Rent	-10% $-103	-5% $-8	+0% $87	+5% $182	+10% $277
Rate	-1.0pp $236	-0.5pp $162	base $87	+0.5pp $11	+1.0pp $-67

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6016 Loraine St Metairie, LA	3.0	1.0	1600	$1,950	$1.22	4d	1	0.09mi
1216 Hymelia Ave Metairie, LA	4.0	2.0	1400	$3,500	$2.50	6d	1	0.10mi
1108 Cardinal Ave Metairie, LA	4.0	2.0	1903	$2,650	$1.39	45d	1	0.16mi
703 Linden St Metairie, LA	3.0	2.0	1650	$2,500	$1.52	22d	1	0.25mi
1808 Elise Ave Metairie, LA	3.0	2.0	1508	$2,100	$1.39	25d	1	0.39mi
1712 Abadie Ave Metairie, LA	4.0	2.0	1900	$2,750	$1.45	25d	1	0.45mi
3 Donald Ct Metairie, LA	3.0	2.0	1633	$2,000	$1.22	25d	1	0.50mi
2012 Airline Park Blvd Metairie, LA	3.0	2.0	1583	$2,100	$1.33	25d	1	0.69mi
705 N Lester Ave Metairie, LA	3.0	2.0	1334	$2,100	$1.57	45d	1	0.86mi
6908 Christine St Metairie, LA	3.0	2.0	1550	$2,100	$1.35	25d	1	0.89mi
6908 Christine St Metairie, LA	3.0	2.0	1550	$2,000	$1.29	16d	1	0.89mi
5017 Soldier St Metairie, LA	3.0	2.0	1575	$1,900	$1.21	16d	1	0.95mi
1101 Field Ave Metairie, LA	3.0	2.0	1290	$2,250	$1.74	45d	1	0.97mi
4960 York St Unit 4954 Metairie, LA	3.0	2.5	1597	$2,150	$1.35	6d	1	0.97mi
820 Calvert St Metairie, LA	3.0	2.0	1900	$3,000	$1.58	45d	1	1.01mi
713 Calvert St Metairie, LA	3.0	2.5	1644	$2,200	$1.34	25d	1	1.09mi
711 Calvert Ave Metairie, LA	3.0	2.5	1644	$2,150	$1.31	25d	1	1.09mi
2100 Sawmill Rd New Orleans, LA	1.0–2.0	1.0–2.5	959	$1,465	$1.53	4d	22	1.12mi
4711 Grammar Ave Metairie, LA	3.0	2.0	1794	$1,550	$0.86	6d	1	1.12mi
808 Cynthia Ave Metairie, LA	3.0	2.0	1500	$2,100	$1.40	16d	1	1.16mi
4807 Evangeline St Metairie, LA	2.0	2.0	1415	$1,850	$1.31	6d	1	1.16mi
4502 Park Dr N Unit 4502 Metairie, LA	2.0	2.5	1452	$2,100	$1.45	5d	1	1.29mi
4522 Park Dr S Metairie, LA	3.0	2.0	1340	$1,500	$1.12	22d	1	1.29mi
216 Trudeau Dr Metairie, LA	4.0	3.0	1825	$2,800	$1.53	6d	1	1.35mi
527 Little Farms Ave New Orleans, LA	3.0	2.0	1855	$2,800	$1.51	25d	1	1.37mi
4445 Perkins St #110 Metairie, LA	2.0	2.0	1500	$1,650	$1.10	45d	1	1.39mi
4824 Quincy St Unit C Metairie, LA	2.0	1.0	1300	$1,450	$1.12	45d	1	1.45mi
6801 Veterans Blvd Metairie, LA	1.0–3.0	1.0–2.0	985	$1,701	$1.73	3d	27	1.47mi

Listing history 14 events

1. 2026-06-08
   days on market $295,000 Active 81 DOM
2. 2026-06-07
   days on market $295,000 Active 80 DOM
3. 2026-06-03
   days on market $295,000 Active 76 DOM
4. 2026-06-02
   days on market $295,000 Active 75 DOM
5. 2026-06-01
   days on market $295,000 Active 74 DOM
6. 2026-05-31
   days on market $295,000 Active 73 DOM
7. 2026-05-05
   price $299,000 479-char remark

   Show marketing remark (483 chars)

   GEORGEOUS. .. COMPLETE RENOVATION. .. 3 BEDROOM, 2 BATH HOME HAS AN OPEN FLOOR PLAN AND A BAY WINDOW. Everything has been updated including roof, paint, flooring, lighting, fencing, kitchen and bathrooms. The closets feature custom built-ins for the home owners. A patio with NEW concrete in backyard will be the perfect spot to relax after a long day. Come tour this Beautiful home before it gets away. Special grant money available to qualified buyers. Schedule your viewing today.

8. 2026-05-05
   price $299,000 483-char remark

   Show marketing remark (483 chars)

   GEORGEOUS. .. COMPLETE RENOVATION. .. 3 BEDROOM, 2 BATH HOME HAS AN OPEN FLOOR PLAN AND A BAY WINDOW. Everything has been updated including roof, paint, flooring, lighting, fencing, kitchen and bathrooms. The closets feature custom built-ins for the home owners. A patio with NEW concrete in backyard will be the perfect spot to relax after a long day. Come tour this Beautiful home before it gets away. Special grant money available to qualified buyers. Schedule your viewing today.

9. 2026-04-16
   price $305,000 479-char remark

   Show marketing remark (483 chars)

   GEORGEOUS. .. COMPLETE RENOVATION. .. 3 BEDROOM, 2 BATH HOME HAS AN OPEN FLOOR PLAN AND A BAY WINDOW. Everything has been updated including roof, paint, flooring, lighting, fencing, kitchen and bathrooms. The closets feature custom built-ins for the home owners. A patio with NEW concrete in backyard will be the perfect spot to relax after a long day. Come tour this Beautiful home before it gets away. Special grant money available to qualified buyers. Schedule your viewing today.

10. 2026-04-16
    price $305,000 483-char remark

    Show marketing remark (483 chars)

    GEORGEOUS. .. COMPLETE RENOVATION. .. 3 BEDROOM, 2 BATH HOME HAS AN OPEN FLOOR PLAN AND A BAY WINDOW. Everything has been updated including roof, paint, flooring, lighting, fencing, kitchen and bathrooms. The closets feature custom built-ins for the home owners. A patio with NEW concrete in backyard will be the perfect spot to relax after a long day. Come tour this Beautiful home before it gets away. Special grant money available to qualified buyers. Schedule your viewing today.

11. 2026-03-19
    listed $315,000 Active 479-char remark

    Show marketing remark (483 chars)

    GEORGEOUS. .. COMPLETE RENOVATION. .. 3 BEDROOM, 2 BATH HOME HAS AN OPEN FLOOR PLAN AND A BAY WINDOW. Everything has been updated including roof, paint, flooring, lighting, fencing, kitchen and bathrooms. The closets feature custom built-ins for the home owners. A patio with NEW concrete in backyard will be the perfect spot to relax after a long day. Come tour this Beautiful home before it gets away. Special grant money available to qualified buyers. Schedule your viewing today.

12. 2026-03-19
    listed $315,000 Active 483-char remark

    Show marketing remark (483 chars)

    GEORGEOUS. .. COMPLETE RENOVATION. .. 3 BEDROOM, 2 BATH HOME HAS AN OPEN FLOOR PLAN AND A BAY WINDOW. Everything has been updated including roof, paint, flooring, lighting, fencing, kitchen and bathrooms. The closets feature custom built-ins for the home owners. A patio with NEW concrete in backyard will be the perfect spot to relax after a long day. Come tour this Beautiful home before it gets away. Special grant money available to qualified buyers. Schedule your viewing today.

13. 2025-10-06
    soldstatus $52,000
14. 1979-03-01
    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: $889 · $74/mo
• Projected year-2 tax: $1,622 · $135/mo
• Expected delta: +$734/yr (+$61/mo · 82.6%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,823
• − Mortgage interest: −$16,525
• − Property taxes: −$889
• − Insurance: −$2,272
• − Repairs & maintenance: −$2,306
• − Management: −$2,306
• − Depreciation: −$8,582
• Taxable loss: −$4,056
• Est. tax savings @ 24.0%: +$974
• After-tax cash flow: $2,018/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): 39,344
• Household income: $76,261
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 710.0

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 (65%)
• Race & ethnicity: White 65% Hispanic / Latino 19% Two or more races 12% Black 8% Asian 5%
• Hispanic origin (detail): Mexican 3% Cuban 1%
• Common ancestry: Lithuanian 12% Scotch-Irish 1% Slovak 1%
• Foreign-born: 14% · Canada, Vietnam, China
• Languages at home: 81% English-only · Spanish 12% 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: ▼ -252.03%
• Current HPI: 138.5632
• Rent YoY: ▲ 2.15%
• 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

+475.0% since first listed

8 events — show timeline

• 2026-05-05 Price Changed $299,000 AcadianaMLS
• 2026-05-05 Price Changed $299,000 GSREIN
• 2026-04-16 Price Changed $305,000 AcadianaMLS
• 2026-04-16 Price Changed $305,000 GSREIN
• 2026-03-19 Listed $315,000 GSREIN
• 2026-03-19 Listed $315,000 AcadianaMLS
• 2025-10-06 Sold (Public Records) $52,000 Public Records
• 1979-03-01 Sold (Public Records) — Public Records

Property tax history

+1.0%/yr

Latest (2025): $889 · +0.2% YoY. Source: county tax records.