3624 Gallo Dr · Chalmette, LA 70043

$185,000

3 bd · 2.0 ba · 1,300 sqft · SingleFamily · 31 Days on market

Built 1987 Est $190k · at est.

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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 +19.4/30.0
• ARV discount +8.6/15.0
• DSCR +6.1/10.0
• Schools +5.0/10.0
• 1% rule +4.3/10.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bedroom, 2-bath brick home located in the heart of Chalmette is waiting for its New Owners. This property offers a functional layout with spacious living areas, ample natural light, and great potential for a first-time buyer. or investor. home is in Average condition and ready for your personal touches. Conveniently located near shopping, restaurants, schools, and local amenities with easy access to New Orleans. This one is the perfect blend of comfort and convenience. The spacious primary bedroom and oversized family room flow seamlessly into the kitchen, creating an open floor plan that's ideal for everyday living or entertaining guests. Enjoy peace of mind in an X flood zone. Qualified buyers may receive up to 4% in grant money that can be used toward your down payment, closing costs, or pre-paids -- because adulting is expensive enough already. This program can be paired with FHA, USDA, Conventional or VA financing . Owning a home may be easier than you think. The lot next door at 3620 Gallo is also being sold for 30K by the same owner if having a large spread is your thing. MLS # 2556632. Don't miss this opportunity to own a home in a well- established neighborhood. Come tour it before someone else stops paying rent first!

Key facts

• 2 parking spots
• Built 1987
• Listed 31 days

Property features AI

Exterior

• Parking: Driveway; Detached garage with two spaces
• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Brick and vinyl siding exterior; Asphalt shingle roof; Slab foundation; Built with average condition
• Exterior features: City lot, rectangular shape; Lot dimensions approximately 68 x 73

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Five total rooms; Average condition

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $139 ($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 $172k (7.0% below list).
• Recommended offer: $172k (7.0% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 112 units permitted in St. Bernard Parish in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($55k/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 $6k 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.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y 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.

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 $172,142 (7.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.77%
• DSCR: 1.21
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $189,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3417 Volpe Dr	0.21mi	3/2.0	1,300 (0%)	2mo	$210,000	$162	89
3525 Charles Dr	0.15mi	3/2.0	1,350 (+4%)	11mo	$165,000	$122	77
3500 Dauterive Dr	0.43mi	3/2.0	1,279 (-2%)	3mo	$196,000	$153	75
3317 Decomine Dr	0.49mi	3/2.0	1,300 (0%)	7mo	$175,000	$135	71
3717 Dauterive Dr	0.36mi	3/2.0	1,332 (+2%)	10mo	$205,000	$154	71
3304 Corinne Dr	0.30mi	3/2.0	1,414 (+9%)	3mo	$224,500	$159	69
3401 Marietta St	0.57mi	3/2.0	1,330 (+2%)	1mo	$155,000	$117	69
805 Magistrate St	0.43mi	3/2.0	1,263 (-3%)	10mo	$170,000	$135	67
2901 Blanchard Dr	0.58mi	3/2.0	1,339 (+3%)	3mo	$195,000	$146	66
3412 Rosetta Dr	0.61mi	3/2.0	1,404 (+8%)	5mo	$135,000	$96	54
3020 Decomine Dr	0.66mi	3/2.0	1,230 (-5%)	9mo	$170,000	$138	53
3208 Veronica Dr	0.54mi	3/2.0	1,465 (+13%)	12mo	$215,000	$147	43

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: -11.1%
• Equity multiple: 0.60×
• Total profit: $-20,920
• Equity at exit: $27,584

10-year hold

• IRR: -1.7%
• Equity multiple: 0.88×
• Total profit: $-6,041
• Equity at exit: $15,995

Cash invested: $51,800 (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 70043

• Rents YoY: 3.1%
• Active inventory: 209
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,721 high
• Mortgage (P&I): −$970
• Tax from tax record: −$107 /mo · $1,282/yr
• Insurance: −$77
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $139

Break-even live

Break-even rent $1,545

Max offer price $185,000

Occupancy floor 87%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3629 Charles Dr Chalmette, LA	3.0	2.0	1405	$1,600	$1.14	14d	1	0.14mi
3708 Veronica Dr Chalmette, LA	3.0	2.0	1818	$2,550	$1.40	1d	1	0.27mi
3012 Volpe Dr Chalmette, LA	3.0	2.0	1812	$2,500	$1.38	43d	1	0.53mi
3321 Plaza Dr Chalmette, LA	3.0	2.0	1400	$1,650	$1.18	10d	1	0.53mi
3513 Golden Dr Chalmette, LA	2.0	2.0	1000	$1,200	$1.20	43d	1	0.58mi
511 E Genie St Chalmette, LA	3.0	2.0	1100	$1,500	$1.36	1d	1	0.62mi
3329 Golden Dr Unit A Chalmette, LA	2.0	1.5	1200	$1,200	$1.00	43d	1	0.64mi
3305 Golden Dr Unit D Chalmette, LA	2.0	1.5	1100	$1,200	$1.09	15d	1	0.68mi
406 Dubarry Pl Chalmette, LA	3.0	2.0	950	$1,550	$1.63	43d	1	0.69mi
3612 Laplace St Chalmette, LA	2.0	1.5	1090	$1,300	$1.19	16d	1	0.73mi
3209 Golden Dr Unit C Chalmette, LA	2.0	1.5	950	$1,200	$1.26	15d	1	0.75mi
2708 Volpe Dr Chalmette, LA	3.0	2.0	1556	$2,300	$1.48	21d	1	0.75mi
3711 Tournefort St Chalmette, LA	3.0	2.0	1250	$1,850	$1.48	3d	1	0.76mi
2602 Chalona Dr Unit C Chalmette, LA	2.0	1.5	900	$1,200	$1.33	2d	1	0.82mi
3106 Laplace St Chalmette, LA	3.0	2.5	1390	$1,650	$1.19	43d	1	0.86mi
3108 Laplace St Chalmette, LA	3.0	2.5	1390	$1,650	$1.19	43d	1	0.87mi
3108 Tournefort St Chalmette, LA	3.0	2.0	1399	$1,750	$1.25	2d	1	0.93mi
2709 Munster Blvd Meraux, LA	3.0	2.0	1411	$1,900	$1.35	23d	1	1.01mi
2431 Octavia Dr Chalmette, LA	3.0	2.0	1100	$1,499	$1.36	43d	1	1.04mi
2429 Octavia Dr Chalmette, LA	3.0	2.0	1700	$1,575	$0.93	23d	1	1.04mi
2518 Delambert St Chalmette, LA	3.0	2.0	1617	$1,825	$1.13	43d	1	1.12mi
3400 Montesquieu St Unit 1-B Chalmette, LA	3.0	2.5	1372	$2,550	$1.86	1d	1	1.13mi
2337 Plaza Dr Chalmette, LA	3.0	2.0	925	$1,500	$1.62	43d	1	1.15mi
2228 Riverland Dr Chalmette, LA	3.0	1.0	1300	$1,800	$1.38	2d	1	1.16mi
2329 Lyndell Dr Chalmette, LA	2.0	1.0	1265	$1,400	$1.11	43d	1	1.19mi
2319 Plaza Dr Chalmette, LA	2.0	1.0	1000	$1,200	$1.20	3d	1	1.20mi
3507 Sinclair St Chalmette, LA	3.0	2.0	1186	$1,800	$1.52	10d	1	1.21mi
321 Rosemary Pl Chalmette, LA	2.0	2.0	1000	$1,550	$1.55	1d	1	1.28mi
3625 Park Blvd Chalmette, LA	3.0	2.0	924	$1,750	$1.89	2d	1	1.29mi
3617 Park Blvd Chalmette, LA	3.0	2.0	1090	$1,850	$1.70	20d	1	1.29mi
3617 Park Blvd Chalmette, LA	3.0	2.0	1090	$1,850	$1.70	43d	1	1.29mi
2029 W Beauregard St Chalmette, LA	3.0	2.0	1176	$2,200	$1.87	16d	1	1.41mi
226 E Casa Calvo St Chalmette, LA	3.0	2.0	1330	$1,900	$1.43	43d	1	1.42mi
3606 Pakenham Dr Unit 3606 Chalmette, LA	3.0	2.0	1400	$1,800	$1.29	11d	1	1.42mi
3508 Pakenham Dr Chalmette, LA	2.0	1.0	1000	$1,150	$1.15	2d	1	1.43mi
3813 Jupiter Dr Chalmette, LA	2.0	1.0	946	$1,450	$1.53	21d	1	1.45mi
3615 Jupiter Dr Chalmette, LA	3.0	1.5	1000	$1,595	$1.59	43d	1	1.46mi
203 E Moreau St Chalmette, LA	3.0	1.5	965	$1,700	$1.76	3d	1	1.47mi
9108 Atreus St Chalmette, LA	2.0	2.0	998	$1,400	$1.40	43d	1	1.50mi

Listing history 24 events

1. 2026-06-18
   days on market $185,000 Active 31 DOM
2. 2026-06-17
   days on market $185,000 Active 30 DOM
3. 2026-06-16
   days on market $185,000 Active 29 DOM
4. 2026-06-15
   days on market $185,000 Active 28 DOM
5. 2026-06-13
   days on market $185,000 Active 26 DOM
6. 2026-06-10
   days on market $185,000 Active 23 DOM
7. 2026-06-09
   days on market $185,000 Active 22 DOM
8. 2026-06-08
   days on market $185,000 Active 21 DOM
9. 2026-06-07
   days on market $185,000 Active 20 DOM
10. 2026-06-03
    days on market $185,000 Active 16 DOM
11. 2026-06-02
    days on market $185,000 Active 15 DOM
12. 2026-06-01
    days on market $185,000 Active 14 DOM
13. 2026-05-31
    days on market $185,000 Active 13 DOM
14. 2026-05-18
    listed $185,000 Active 1258-char remark

    Show marketing remark (1258 chars)

    Charming 3-bedroom, 2-bath brick home located in the heart of Chalmette is waiting for its New Owners. This property offers a functional layout with spacious living areas, ample natural light, and great potential for a first-time buyer. or investor. home is in Average condition and ready for your personal touches. Conveniently located near shopping, restaurants, schools, and local amenities with easy access to New Orleans. This one is the perfect blend of comfort and convenience. The spacious primary bedroom and oversized family room flow seamlessly into the kitchen, creating an open floor plan that's ideal for everyday living or entertaining guests. Enjoy peace of mind in an X flood zone. Qualified buyers may receive up to 4% in grant money that can be used toward your down payment, closing costs, or pre-paids -- because adulting is expensive enough already. This program can be paired with FHA, USDA, Conventional or VA financing . Owning a home may be easier than you think. The lot next door at 3620 Gallo is also being sold for 30K by the same owner if having a large spread is your thing. MLS # 2556632. Don't miss this opportunity to own a home in a well- established neighborhood. Come tour it before someone else stops paying rent first!

15. 2026-05-18
    listed $185,000 Active

    Show marketing remark (1258 chars)

    Charming 3-bedroom, 2-bath brick home located in the heart of Chalmette is waiting for its New Owners. This property offers a functional layout with spacious living areas, ample natural light, and great potential for a first-time buyer. or investor. home is in Average condition and ready for your personal touches. Conveniently located near shopping, restaurants, schools, and local amenities with easy access to New Orleans. This one is the perfect blend of comfort and convenience. The spacious primary bedroom and oversized family room flow seamlessly into the kitchen, creating an open floor plan that's ideal for everyday living or entertaining guests. Enjoy peace of mind in an X flood zone. Qualified buyers may receive up to 4% in grant money that can be used toward your down payment, closing costs, or pre-paids -- because adulting is expensive enough already. This program can be paired with FHA, USDA, Conventional or VA financing . Owning a home may be easier than you think. The lot next door at 3620 Gallo is also being sold for 30K by the same owner if having a large spread is your thing. MLS # 2556632. Don't miss this opportunity to own a home in a well- established neighborhood. Come tour it before someone else stops paying rent first!

16. 2021-10-19
    soldstatus $177,000
17. 2013-08-22
    soldstatus $6,000
18. 2008-07-29
    soldstatus $123,000
19. 2008-07-23
    soldstatus $123,000
20. 2008-02-04
    listed $124,900
21. 2008-02-04
    listed $124,900
22. 2001-04-16
    soldstatus $108,000
23. 2001-03-14
    listed $114,900
24. 2001-03-14
    listed $114,900

ⓘ 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: $1,282 · $107/mo
• Projected year-2 tax: $1,282 · $107/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) · 76% 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,657
• − Mortgage interest: −$10,363
• − Property taxes: −$1,282
• − Insurance: −$1,722
• − Repairs & maintenance: −$1,653
• − Management: −$1,653
• − Depreciation: −$5,382
• Taxable loss: −$1,397
• Est. tax savings @ 24.0%: +$335
• After-tax cash flow: $2,008/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

+61.0% since first listed

11 events — show timeline

• 2026-05-18 Listed $185,000 GSREIN
• 2026-05-18 Listed $185,000 AcadianaMLS
• 2021-10-19 Sold (Public Records) $177,000 Public Records
• 2013-08-22 Sold (Public Records) $6,000 Public Records
• 2008-07-29 Sold (Public Records) $123,000 Public Records
• 2008-07-23 Sold (MLS) $123,000 GSREIN
• 2008-02-04 Listed $124,900 GSREIN
• 2008-02-04 Listed $124,900 AcadianaMLS
• 2001-04-16 Sold (MLS) $108,000 GSREIN
• 2001-03-14 Listed $114,900 AcadianaMLS
• 2001-03-14 Listed $114,900 GSREIN

Property tax history

+20.7%/yr

Latest (2025): $1,282 · -47.4% YoY. Source: county tax records.