3754 Roman St · Metairie, LA 70001

$229,000

3 bd · 2.0 ba · 1,471 sqft · SingleFamily · 393 Days on market

Built 1954 8,999 sqft lot $156/sqft · 27% below area Est $316k · 27% under ↓ 21% since listing

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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 +17.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• Livability +4.4/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 75-foot front lot just off Cleary Ave and located in an X flood zone! This versatile property offers lots of possibilities-featuring an existing home that can be remodeled, converted back to a double, or build new to suit your vision. Zoned R2, allowing for flexible development opportunities. Conveniently situated near local amenities, this is a fantastic chance to invest in a property with great potential.

Key facts

• Zoned r2
• Existing home
• 75-foot front lot

Tags

• 75-FOOT FRONT LOT
• ZONED R2
• EXISTING HOME

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $178 ($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 $198k (13.7% below list).
• Recommended offer: $198k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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 (-0.0%/yr); 208 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• This rent runs 35% of the median local income ($68k/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 $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 393 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $61k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,551 (13.7% below list)

Questions for the listing agent

1. It's been on market 393 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — 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 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 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: 0.86% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.34%
• DSCR: 1.15
• GRM: 9.7

CMA / ARV

• ARV (median comp): $315,546
• List price: $229,000
• Delta: -27.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3635 Cypress St	0.14mi	3/1.5	1,308 (-11%)	2mo	$213,800	$163	71
1301 N Hullen St	0.57mi	3/2.0	1,504 (+2%)	4mo	$286,000	$190	67
604 Severn Ave	0.30mi	2/1.0 (-1)	1,532 (+4%)	4mo	$240,000	$157	67
1613 N Turnbull Dr	0.67mi	3/2.0	1,464 (-0%)	4mo	$225,000	$154	65
4206 Center St	0.55mi	3/2.0	1,554 (+6%)	1mo	$415,000	$267	64
3401 W Metairie South Ave	0.42mi	3/2.0	1,340 (-9%)	2mo	$350,000	$261	64
3621 47th St	0.45mi	3/2.0	1,320 (-10%)	0mo	$200,000	$152	61
4309 Center St	0.63mi	3/2.0	1,554 (+6%)	2mo	$414,900	$267	60
4313 Lenora St	0.60mi	3/2.0	1,360 (-8%)	2mo	$300,000	$221	58
912 Giuffrias Ave	0.55mi	3/2.0	1,630 (+11%)	1mo	$315,000	$193	56
4306 Stockton St	0.60mi	4/2.0 (+1)	1,371 (-7%)	1mo	$139,000	$101	55
513 Athania Pkwy	0.50mi	3/2.0	1,259 (-14%)	2mo	$385,000	$306	51

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: -14.1%
• Equity multiple: 0.51×
• Total profit: $-31,634
• Equity at exit: $34,145

10-year hold

• IRR: -10.4%
• Equity multiple: 0.44×
• Total profit: $-35,676
• Equity at exit: $19,800

Cash invested: $64,120 (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 70001

• Rents YoY: -0.0%
• Active inventory: 208
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,976 high
• Mortgage (P&I): −$1,201
• Tax from tax record: −$86 /mo · $1,032/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $178

Break-even live

Break-even rent $1,750

Max offer price $229,000

Occupancy floor 86%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
704 Waltham St Metairie, LA	3.0	2.0	1800	$1,900	$1.06	43d	1	0.10mi
3803 Derbigny St Metairie, LA	3.0	1.0	1010	$1,700	$1.68	23d	1	0.16mi
3650 Bauvais St Metairie, LA	3.0	2.0	1300	$2,800	$2.15	4d	1	0.17mi
3634 Bauvais St Unit 3634 Metairie, LA	2.0	2.0	1800	$2,250	$1.25	2d	1	0.20mi
3635 Derbigny St Metairie, LA	2.0	1.0	1000	$1,500	$1.50	23d	1	0.22mi
3832 Bauvais St Metairie, LA	3.0	2.0	1247	$2,250	$1.80	4d	1	0.22mi
3714 Johnson St Metairie, LA	2.0	1.5	1200	$1,700	$1.42	43d	1	0.23mi
3911 Bauvais St Unit 1 Metairie, LA	3.0	2.0	1575	$1,850	$1.17	23d	1	0.27mi
3913 Bauvais St Unit 1 Metairie, LA	3.0	1.0	1495	$1,600	$1.07	43d	1	0.27mi
3908 W Metairie Ave Metairie, LA	3.0	2.0	1350	$2,250	$1.67	23d	1	0.34mi
3707 W Bode Ct Metairie, LA	3.0	1.0	1300	$1,400	$1.08	43d	1	0.35mi
3916 W Metairie Ave Metairie, LA	3.0	2.5	1300	$1,850	$1.42	4d	1	0.36mi
212 Manson Ave Unit A Metairie, LA	2.0	1.0	1000	$1,200	$1.20	21d	1	0.40mi
1210 Edenborn Ave Unit Front Metairie, LA	2.0	1.0	887	$1,550	$1.75	3d	1	0.41mi
1004 Severn Ave Metairie, LA	3.0	2.0	1270	$1,850	$1.46	14d	1	0.41mi
216 Pasadena Ave Metairie, LA	2.0	1.0	1019	$3,500	$3.43	23d	1	0.48mi
820 Giuffrias Ave Metairie, LA	2.0	1.0	1000	$1,500	$1.50	3d	1	0.49mi
1221 Taft Park Metairie, LA	3.0	2.0	1202	$2,200	$1.83	43d	1	0.49mi
817 Pasadena Ave Metairie, LA	3.0	2.0	1871	$3,300	$1.76	43d	1	0.52mi
116 Colby St Metairie, LA	3.0	2.0	1343	$2,500	$1.86	43d	1	0.52mi
3624 45th St Metairie, LA	3.0	2.0	1645	$2,100	$1.28	43d	1	0.52mi
3624 45th St Metairie, LA	3.0	2.0	1645	$1,950	$1.19	4d	1	0.52mi
3401 48th St Metairie, LA	3.0	2.0	1135	$2,300	$2.03	4d	1	0.53mi
604 Houma Blvd Metairie, LA	3.0	1.0	902	$1,400	$1.55	43d	1	0.58mi
608 Houma Blvd Unit 604 Metairie, LA	3.0	1.0	902	$1,400	$1.55	43d	1	0.58mi
608 Houma Blvd Metairie, LA	2.0	1.0	900	$1,300	$1.44	23d	1	0.58mi
4317 Downs St Metairie, LA	2.0	1.5	1200	$1,550	$1.29	43d	1	0.61mi
1509 Taft Park Metairie, LA	2.0	1.0	1400	$2,200	$1.57	20d	1	0.63mi
3827 Williams Pl New Orleans, LA	4.0	1.5	1450	$2,200	$1.52	23d	1	0.64mi
4322 Barnard St Metairie, LA	3.0	2.5	1526	$2,699	$1.77	43d	1	0.65mi
4324 Barnard St Metairie, LA	3.0	2.5	1526	$2,699	$1.77	43d	1	0.65mi
717 N Woodlawn Ave Metairie, LA	3.0	1.0	900	$1,850	$2.06	43d	1	0.67mi
717 N Woodlawn Ave Metairie, LA	3.0	1.0	900	$1,850	$2.06	23d	1	0.67mi
404 Ridgelake Dr Metairie, LA	2.0	1.0	1100	$2,099	$1.91	23d	1	0.68mi
4437 Calumet St Metairie, LA	2.0	1.0	1100	$1,600	$1.45	43d	1	0.73mi
217 Clearview Pkwy Unit A Metairie, LA	2.0	2.0	1200	$1,450	$1.21	23d	1	0.74mi
3228 44th St Metairie, LA	3.0	2.0	1272	$2,000	$1.57	43d	1	0.74mi
3000 Saint Rene St Unit A Metairie, LA	2.0	1.0	1038	$1,200	$1.16	43d	1	0.77mi
804 Canton St New Orleans, LA	3.0	1.0	1100	$1,700	$1.55	43d	1	0.78mi
258 Gruner Rd Metairie, LA	3.0	2.5	1400	$1,850	$1.32	43d	1	0.80mi

Listing history 21 events

1. 2026-06-18
   days on market $229,000 Active 393 DOM
2. 2026-06-17
   days on market $229,000 Active 392 DOM
3. 2026-06-16
   days on market $229,000 Active 391 DOM
4. 2026-06-15
   days on market $229,000 Active 390 DOM
5. 2026-06-13
   days on market $229,000 Active 388 DOM
6. 2026-06-10
   days on market $229,000 Active 385 DOM
7. 2026-06-09
   days on market $229,000 Active 384 DOM
8. 2026-06-08
   days on market $229,000 Active 383 DOM
9. 2026-06-07
   days on market $229,000 Active 382 DOM
10. 2026-06-03
    days on market $229,000 Active 378 DOM
11. 2026-06-02
    days on market $229,000 Active 377 DOM
12. 2026-06-01
    days on market $229,000 Active 376 DOM
13. 2026-05-31
    days on market $229,000 Active 375 DOM
14. 2026-01-23
    price $229,000 419-char remark

    Show marketing remark (419 chars)

    Spacious 75-foot front lot just off Cleary Ave and located in an X flood zone! This versatile property offers lots of possibilities-featuring an existing home that can be remodeled, converted back to a double, or build new to suit your vision. Zoned R2, allowing for flexible development opportunities. Conveniently situated near local amenities, this is a fantastic chance to invest in a property with great potential.

15. 2026-01-23
    price $229,000 419-char remark

    Show marketing remark (419 chars)

    Spacious 75-foot front lot just off Cleary Ave and located in an X flood zone! This versatile property offers lots of possibilities-featuring an existing home that can be remodeled, converted back to a double, or build new to suit your vision. Zoned R2, allowing for flexible development opportunities. Conveniently situated near local amenities, this is a fantastic chance to invest in a property with great potential.

16. 2026-01-23
    price $229,000

    Show marketing remark (419 chars)

    Spacious 75-foot front lot just off Cleary Ave and located in an X flood zone! This versatile property offers lots of possibilities-featuring an existing home that can be remodeled, converted back to a double, or build new to suit your vision. Zoned R2, allowing for flexible development opportunities. Conveniently situated near local amenities, this is a fantastic chance to invest in a property with great potential.

17. 2026-01-23
    price $229,000

    Show marketing remark (419 chars)

    Spacious 75-foot front lot just off Cleary Ave and located in an X flood zone! This versatile property offers lots of possibilities-featuring an existing home that can be remodeled, converted back to a double, or build new to suit your vision. Zoned R2, allowing for flexible development opportunities. Conveniently situated near local amenities, this is a fantastic chance to invest in a property with great potential.

18. 2025-05-21
    listed $290,000 Active 419-char remark

    Show marketing remark (419 chars)

    Spacious 75-foot front lot just off Cleary Ave and located in an X flood zone! This versatile property offers lots of possibilities-featuring an existing home that can be remodeled, converted back to a double, or build new to suit your vision. Zoned R2, allowing for flexible development opportunities. Conveniently situated near local amenities, this is a fantastic chance to invest in a property with great potential.

19. 2025-05-21
    listed $290,000 Active 419-char remark

    Show marketing remark (419 chars)

    Spacious 75-foot front lot just off Cleary Ave and located in an X flood zone! This versatile property offers lots of possibilities-featuring an existing home that can be remodeled, converted back to a double, or build new to suit your vision. Zoned R2, allowing for flexible development opportunities. Conveniently situated near local amenities, this is a fantastic chance to invest in a property with great potential.

20. 2025-05-21
    listed $290,000 Active

    Show marketing remark (419 chars)

    Spacious 75-foot front lot just off Cleary Ave and located in an X flood zone! This versatile property offers lots of possibilities-featuring an existing home that can be remodeled, converted back to a double, or build new to suit your vision. Zoned R2, allowing for flexible development opportunities. Conveniently situated near local amenities, this is a fantastic chance to invest in a property with great potential.

21. 2025-05-21
    listed $290,000 Active

    Show marketing remark (419 chars)

    Spacious 75-foot front lot just off Cleary Ave and located in an X flood zone! This versatile property offers lots of possibilities-featuring an existing home that can be remodeled, converted back to a double, or build new to suit your vision. Zoned R2, allowing for flexible development opportunities. Conveniently situated near local amenities, this is a fantastic chance to invest in a property with great potential.

ⓘ 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: $1,032 · $86/mo
• Projected year-2 tax: $1,260 · $105/mo
• Expected delta: +$227/yr (+$19/mo · 22.0%)

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

Taxation est. · year 1

• Rental income: $23,706
• − Mortgage interest: −$12,828
• − Property taxes: −$1,032
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,896
• − Management: −$1,896
• − Depreciation: −$6,662
• Taxable loss: −$1,754
• Est. tax savings @ 24.0%: +$421
• After-tax cash flow: $2,561/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): 38,950
• Household income: $67,923
• Rent vs Own: 48.6% rent · 51.4% own
• Severe rent burden: 1988.0

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 0.57)
• Race & ethnicity: White 62% Hispanic / Latino 17% Black 15% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 1% Cuban 2%
• Common ancestry: Lithuanian 13% Italian 1% Hispanic 1%
• Foreign-born: 12% · Canada, China, Philippines
• Languages at home: 84% English-only · Spanish 12% Arabic 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: ▼ -296.45%
• Current HPI: 151.4615
• Rent YoY: ▬ -0.04%
• 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

-21.0% since first listed

8 events — show timeline

• 2026-01-23 Price Changed $229,000 AcadianaMLS
• 2026-01-23 Price Changed $229,000 AcadianaMLS
• 2026-01-23 Price Changed $229,000 GSREIN
• 2026-01-23 Price Changed $229,000 GSREIN
• 2025-05-21 Listed $290,000 GSREIN
• 2025-05-21 Listed $290,000 GSREIN
• 2025-05-21 Listed $290,000 AcadianaMLS
• 2025-05-21 Listed $290,000 AcadianaMLS

Property tax history

+1.0%/yr

Latest (2025): $1,032 · +0.2% YoY. Source: county tax records.