1161 Lake Ave #222 · Metairie, LA 70005

$110,000

2 bd · 1.0 ba · 770 sqft · Condo · 28 Days on market

Built 1973 $333/mo HOA · 22% of rent

---

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 +21.0/30.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Livability +4.4/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 2-bedroom, 1-bath condo in a highly desirable Metairie location offers an excellent opportunity for comfortable homeownership. Inside, you'll find easy-to-maintain flooring throughout with absolutely no carpet. The unit also features a washer and dryer added in 2019, a new water heater was installed in 2024, and energy-efficient windows installed in 2021. After a long day, unwind and relax by the community swimming pool. You'll also love the convenient location for popular seafood restaurants, local markets, Lake Pontchartrain, scenic trails for exercise, and nearby boat launches -- ideal for enjoying the best of the Louisiana lifestyle.

Key facts

• Convenient location
• $333 HOA
• Parking

Tags

• ENERGY EFFICIENT WINDOWS
• COMMUNITY SWIMMING POOL
• CONVENIENT LOCATION

Property features AI

Finance

• Other: Property is part of a 329-unit complex; Pets allowed with restrictions (cats and dogs OK)
• HOA & community: HOA/association fee of $333 (includes common areas and water); Community amenities include elevator and pool

Exterior

• Parking: Assigned parking (1 space); Additional parking available
• Utilities: Public water; Public sewer
• Home design: Condo; 3-story building; Flat roof; Entry on slab foundation
• Construction: Brick and HardiPlank exterior; Built with slab foundation; Flat roof
• Exterior features: Community pool; Common grounds/area; City lot; Rectangular lot

Interior

• Kitchen: Dishwasher; Range; Microwave; Granite counters
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Elevator access; Granite countertops
• Laundry & utility: In-unit washer and dryer; Dryer; Washer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% 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.
• Market conditions: Rents soft (-0.3%/yr); 171 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 22 sale attempts since 31y 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 $70k; list at $110k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.37% ✓
• Cap rate: 7.98%
• Cash-on-cash: 6.02%
• DSCR: 1.27
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.60×
• Total profit: $-12,203
• Equity at exit: $16,401

10-year hold

• IRR: -9.0%
• Equity multiple: 0.54×
• Total profit: $-14,203
• Equity at exit: $9,511

Cash invested: $30,800 (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: 171
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,502 high
• Mortgage (P&I): −$577
• Tax from tax record: −$76 /mo · $918/yr
• Insurance: −$46
• HOA: −$333
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $154

Break-even live

Break-even rent $1,307

Max offer price $110,000

Occupancy floor 85%

Sensitivity live

Price	-10% $217	-5% $186	+0% $154	+5% $123	+10% $92
Rent	-10% $36	-5% $95	+0% $154	+5% $214	+10% $273
Rate	-1.0pp $210	-0.5pp $182	base $154	+0.5pp $126	+1.0pp $97

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1161 Lake Ave #120 Metairie, LA	1.0	1.0	750	$1,400	$1.87	44d	1	0.02mi
1161 Lake Ave #205 Metairie, LA	1.0	1.0	775	$1,430	$1.85	44d	1	0.02mi
1161 Lake Ave #222 Metairie, LA	2.0	1.0	770	$1,250	$1.62	44d	1	0.02mi
222 London Ave #218 Metairie, LA	2.0	1.5	1000	$1,400	$1.40	2d	1	0.07mi
1044 Lake Ave Unit D Metairie, LA	2.0	2.0	1044	$1,300	$1.25	44d	1	0.14mi
320 18th St New Orleans, LA	2.0	1.0	850	$1,350	$1.59	24d	1	0.33mi
1401 Lake Ave Unit C6 Metairie, LA	2.0	1.5	1040	$1,625	$1.56	44d	1	0.38mi
6537 Bellaire Dr New Orleans, LA	2.0	2.0	1100	$1,750	$1.59	24d	1	0.39mi
230 16th St New Orleans, LA	2.0	1.0	750	$1,875	$2.50	2d	1	0.43mi
243 14th St New Orleans, LA	2.0	1.0	902	$1,500	$1.66	24d	1	0.43mi
812 Martin Behrman Ave Unit A Metairie, LA	1.0	1.0	700	$1,250	$1.79	44d	1	0.44mi
6564 Fleur de Lis Dr New Orleans, LA	1.0	1.0	600	$1,050	$1.75	24d	1	0.50mi
6616 Bellaire Dr New Orleans, LA	2.0	1.0	850	$1,500	$1.76	24d	1	0.51mi
213 W Esplanade Ave #213 Metairie, LA	2.0	1.5	1021	$1,400	$1.37	44d	1	0.51mi
735 Lake Ave Metairie, LA	3.0	1.0	900	$1,300	$1.44	5d	1	0.55mi
6622 Fleur De Lis Dr Unit 2 New Orleans, LA	2.0	1.0	950	$1,400	$1.47	24d	1	0.56mi
301 Seattle St New Orleans, LA	2.0	1.0	660	$1,475	$2.23	22d	3	0.58mi
6650 Fleur De Lis Dr #5 New Orleans, LA	1.0	1.0	600	$1,100	$1.83	24d	1	0.59mi
1309 Huron Ave Metairie, LA	3.0	1.0	927	$1,700	$1.83	20d	1	0.60mi
625 Papworth Ave Apt E Metairie, LA	2.0	1.0	928	$1,000	$1.08	5d	1	0.61mi
625 Papworth Ave Unit B Metairie, LA	2.0	1.0	1020	$1,500	$1.47	5d	1	0.61mi
6629 Fleur De Lis Dr Apt 6 New Orleans, LA	1.0	1.0	750	$1,150	$1.53	12d	1	0.61mi
112 Glenn St Unit G Metairie, LA	2.0	1.0	750	$1,275	$1.70	24d	1	0.61mi
1554 Orpheum Ave Unit 2 Metairie, LA	1.0	1.5	700	$1,050	$1.50	44d	1	0.66mi
101 36th St New Orleans, LA	1.0	1.0	1000	$1,455	$1.46	24d	1	0.66mi
322 40th St New Orleans, LA	2.0	1.0	862	$1,500	$1.74	24d	1	0.74mi
509 E William David Pkwy Unit A Metairie, LA	1.0	1.0	700	$1,650	$2.36	24d	1	0.75mi
6720 Pontchartrain Blvd New Orleans, LA	2.0	1.0	875	$1,550	$1.77	4d	1	0.78mi
6722 Pontchartrain Blvd New Orleans, LA	2.0	1.0	850	$1,550	$1.82	4d	1	0.79mi
506 Nursery Ave Metairie, LA	2.0	1.0	725	$1,500	$2.07	5d	1	0.80mi
1639 Lake Ave Unit 6 Metairie, LA	2.0	1.0	1000	$1,200	$1.20	44d	1	0.81mi
6821 Fleur De Lis Dr New Orleans, LA	2.0	1.0	1000	$2,000	$2.00	24d	1	0.82mi
6633 Milne Blvd Unit A New Orleans, LA	3.0	1.0	875	$1,600	$1.83	24d	1	0.84mi
404 Polk St New Orleans, LA	2.0	1.0	769	$1,600	$2.08	4d	1	0.87mi
422-424 Nursery Ave Metairie, LA	2.0	1.0	1030	$2,050	$1.99	5d	1	0.87mi
1508 Seminole Ave Unit 207 Metairie, LA	1.0	1.0	550	$905	$1.65	15d	1	0.88mi
1212 Brockenbraugh Ct Unit D Metairie, LA	2.0	1.0	957	$1,050	$1.10	44d	1	0.88mi
320 Harney St New Orleans, LA	1.0	1.0	900	$1,150	$1.28	24d	1	0.89mi
423 Canal St Metairie, LA	2.0	1.0	1000	$1,600	$1.60	5d	1	0.91mi
325 Filmore Ave New Orleans, LA	2.0	1.0	738	$1,350	$1.83	24d	1	0.93mi

HOA detail condo

• Monthly dues: $333 · $3,996/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $110,000 Active 28 DOM
2. 2026-06-17
   days on market $110,000 Active 27 DOM
3. 2026-06-16
   days on market $110,000 Active 26 DOM
4. 2026-06-15
   days on market $110,000 Active 25 DOM
5. 2026-06-13
   days on market $110,000 Active 23 DOM
6. 2026-06-10
   days on market $110,000 Active 20 DOM
7. 2026-06-09
   days on market $110,000 Active 19 DOM
8. 2026-06-08
   days on market $110,000 Active 18 DOM
9. 2026-06-07
   days on market $110,000 Active 17 DOM
10. 2026-06-03
    days on market $110,000 Active 13 DOM
11. 2026-06-02
    days on market $110,000 Active 12 DOM
12. 2026-06-01
    days on market $110,000 Active 11 DOM
13. 2026-05-31
    days on market $110,000 Active 10 DOM
14. 2026-05-21
    listed $110,000 Active 659-char remark

    Show marketing remark (659 chars)

    This charming 2-bedroom, 1-bath condo in a highly desirable Metairie location offers an excellent opportunity for comfortable homeownership. Inside, you'll find easy-to-maintain flooring throughout with absolutely no carpet. The unit also features a washer and dryer added in 2019, a new water heater was installed in 2024, and energy-efficient windows installed in 2021. After a long day, unwind and relax by the community swimming pool. You'll also love the convenient location for popular seafood restaurants, local markets, Lake Pontchartrain, scenic trails for exercise, and nearby boat launches -- ideal for enjoying the best of the Louisiana lifestyle.

15. 2026-05-21
    listed $110,000 Active

    Show marketing remark (659 chars)

    This charming 2-bedroom, 1-bath condo in a highly desirable Metairie location offers an excellent opportunity for comfortable homeownership. Inside, you'll find easy-to-maintain flooring throughout with absolutely no carpet. The unit also features a washer and dryer added in 2019, a new water heater was installed in 2024, and energy-efficient windows installed in 2021. After a long day, unwind and relax by the community swimming pool. You'll also love the convenient location for popular seafood restaurants, local markets, Lake Pontchartrain, scenic trails for exercise, and nearby boat launches -- ideal for enjoying the best of the Louisiana lifestyle.

16. 2026-05-20
    historical $1,250
17. 2026-04-19
    price $1,250
18. 2026-04-02
    listed $1,200
19. 2026-03-03
    historical $1,200
20. 2026-02-06
    listed $1,200
21. 2025-01-07
    historical $1,200
22. 2025-01-04
    listed $1,200
23. 2019-07-02
    soldstatus $70,000
24. 2019-07-02
    soldstatus $70,000
25. 2019-06-27
    soldstatus $70,000 Closed 274-char remark

    Show marketing remark (274 chars)

    Freshly Renovated two bedroom , one-bath condo in Metairie, within blocks of Veterans Blvd. . Gated off street parking, swimming pool, and secured front gate. This condo is centrally located to everything. Just minutes from interstate, downtown New Orleans, CBD and uptown.

26. 2019-04-10
    status Pending 274-char remark

    Show marketing remark (274 chars)

    Freshly Renovated two bedroom , one-bath condo in Metairie, within blocks of Veterans Blvd. . Gated off street parking, swimming pool, and secured front gate. This condo is centrally located to everything. Just minutes from interstate, downtown New Orleans, CBD and uptown.

27. 2019-03-13
    listed $81,500 Active 274-char remark

    Show marketing remark (274 chars)

    Freshly Renovated two bedroom , one-bath condo in Metairie, within blocks of Veterans Blvd. . Gated off street parking, swimming pool, and secured front gate. This condo is centrally located to everything. Just minutes from interstate, downtown New Orleans, CBD and uptown.

28. 2019-03-13
    listed $81,500

    Show marketing remark (274 chars)

    Freshly Renovated two bedroom , one-bath condo in Metairie, within blocks of Veterans Blvd. . Gated off street parking, swimming pool, and secured front gate. This condo is centrally located to everything. Just minutes from interstate, downtown New Orleans, CBD and uptown.

29. 2019-02-08
    price $82,900
30. 2019-01-07
    price $84,900
31. 2018-09-05
    listed $82,900
32. 2017-07-08
    historical
33. 2017-01-05
    price $102,500
34. 2016-05-25
    price $109,000
35. 2016-01-08
    listed $112,000 Active
36. 2016-01-07
    listed $102,500
37. 2014-10-29
    soldstatus $52,000
38. 2012-09-12
    soldstatus $33,500
39. 2012-04-20
    listed $39,900
40. 2012-04-20
    listed $39,900
41. 2010-02-21
    listed $77,500
42. 2010-02-21
    listed $77,500
43. 2008-10-21
    listed $85,000
44. 2008-10-21
    listed $85,000
45. 2008-03-21
    listed $105,000
46. 2008-03-21
    listed $105,000
47. 2005-05-20
    soldstatus $91,500
48. 2005-04-20
    listed $91,500
49. 2005-04-20
    listed $91,500
50. 2001-02-01
    soldstatus $42,500

ⓘ 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: $918 · $76/mo
• Projected year-2 tax: $918 · $76/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: $18,024
• − Mortgage interest: −$6,162
• − Property taxes: −$918
• − Insurance: −$550
• − Repairs & maintenance: −$1,442
• − Management: −$1,442
• − HOA: −$3,996
• − Depreciation: −$3,200
• Taxable income: $314
• Est. tax owed @ 24.0%: −$75
• After-tax cash flow: $1,777/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

+238.5% since first listed

40 events — show timeline

• 2026-05-21 Listed $110,000 GSREIN
• 2026-05-21 Listed $110,000 AcadianaMLS
• 2026-05-20 Rental Removed $1,250 GSREIN
• 2026-04-19 Price Changed $1,250 GSREIN
• 2026-04-02 Listed for Rent $1,200 GSREIN
• 2026-03-03 Rental Removed $1,200 GSREIN
• 2026-02-06 Listed for Rent $1,200 GSREIN
• 2025-01-07 Rental Removed $1,200 GSREIN
• 2025-01-04 Listed for Rent $1,200 GSREIN
• 2019-07-02 Sold (Public Records) $70,000 Public Records
• 2019-07-02 Sold (Public Records) $70,000 Public Records
• 2019-06-27 Sold (MLS) $70,000 GSREIN
• 2019-04-10 Pending — GSREIN
• 2019-03-13 Listed $81,500 AcadianaMLS
• 2019-03-13 Listed $81,500 GSREIN
• 2019-02-08 Price Changed $82,900 GSREIN
• 2019-01-07 Price Changed $84,900 GSREIN
• 2018-09-05 Listed $82,900 AcadianaMLS
• 2017-07-08 Listing Removed — GSREIN
• 2017-01-05 Price Changed $102,500 GSREIN
• 2016-05-25 Price Changed $109,000 GSREIN
• 2016-01-08 Listed $112,000 GSREIN
• 2016-01-07 Listed $102,500 AcadianaMLS
• 2014-10-29 Sold (Public Records) $52,000 Public Records
• 2012-09-12 Sold (MLS) $33,500 GSREIN
• 2012-04-20 Listed $39,900 AcadianaMLS
• 2012-04-20 Listed $39,900 GSREIN
• 2010-02-21 Listed $77,500 GSREIN
• 2010-02-21 Listed $77,500 AcadianaMLS
• 2008-10-21 Listed $85,000 GSREIN
• 2008-10-21 Listed $85,000 AcadianaMLS
• 2008-03-21 Listed $105,000 GSREIN
• 2008-03-21 Listed $105,000 AcadianaMLS
• 2005-05-20 Sold (MLS) $91,500 GSREIN
• 2005-04-20 Listed $91,500 AcadianaMLS
• 2005-04-20 Listed $91,500 GSREIN
• 2001-02-01 Sold (Public Records) $42,500 Public Records
• 1995-03-20 Sold (MLS) $32,500 GSREIN
• 1995-02-22 Listed $32,500 GSREIN
• 1995-02-22 Listed $32,500 AcadianaMLS

Property tax history

+6.7%/yr

Latest (2025): $918 · +0.1% YoY. Source: county tax records.