4516 Lefkoe St · Metairie, LA 70006

$373,000

4 bd · 3.0 ba · 3,176 sqft · SingleFamily · 128 Days on market

Built 1979 10,044 sqft lot $117/sqft · 22% below area Est $478k · 22% 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 +16.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• Livability +4.4/5.0
• 1% rule +4.2/10.0
• 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

Great opportunity in Metairie. VA assumption option available. This property has a full mother in law attached to main house. This can be great for ancillary income or just extra space or income- Mother in law has full kitchen , living area and bedroom and bath, separate entry and covered patio. Main house has fireplace and 3 bedrooms and 2 baths with large open living area.

Key facts

• Full kitchen
• Covered patio
• Separate entry

Tags

• FULL KITCHEN
• SEPARATE ENTRY
• COVERED PATIO
• LARGE OPEN LIVING AREA

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $373k.

Deal economics

• At list price, monthly cash flow is $148 ($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 $342k (8.3% below list).
• Recommended offer: $328k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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: 76 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $3,419/mo this rent would consume 54% of the median local household income ($77k/yr) (locally 590% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($328k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $328,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — 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. 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: 0.92% ✗
• Cap rate: 6.98%
• Cash-on-cash: 2.47%
• DSCR: 1.11
• GRM: 9.1

CMA / ARV

• ARV (median comp): $477,742
• List price: $373,000
• Delta: -21.92%
• 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
4909 Sunny Pl	0.35mi	4/3.0	3,159 (-0%)	6mo	$358,000	$113	77
4800 Avron Blvd	0.28mi	4/2.5	3,009 (-5%)	3mo	$582,500	$194	74
4917 Belle Dr	0.36mi	4/2.5	2,970 (-6%)	1mo	$445,000	$150	69
4536 Alphonse Dr	0.27mi	4/3.0	2,830 (-11%)	8mo	$420,000	$148	63
4524 Folse Dr	0.37mi	3/2.5 (-1)	2,997 (-6%)	5mo	$565,000	$189	62
4908 Avron Blvd	0.46mi	3/2.5 (-1)	2,889 (-9%)	2mo	$580,000	$201	55
4808 Jasper St	0.52mi	5/4.0 (+1)	3,047 (-4%)	6mo	$455,000	$149	55
4917 Lake Vista Dr	0.47mi	4/2.5	2,810 (-12%)	3mo	$665,000	$237	54
4508 Kawanee Ave	0.74mi	5/3.5 (+1)	3,328 (+5%)	1mo	$324,000	$97	50
5028 Ithaca St	0.60mi	5/3.0 (+1)	2,839 (-11%)	2mo	$195,500	$69	47
5124 Belle Dr	0.65mi	5/3.0 (+1)	3,470 (+9%)	9mo	$540,000	$156	42
4344 Folse Dr	0.48mi	5/3.0 (+1)	3,650 (+15%)	8mo	$427,000	$117	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.51×
• Total profit: $-50,963
• Equity at exit: $55,616

10-year hold

• IRR: -4.7%
• Equity multiple: 0.69×
• Total profit: $-32,072
• Equity at exit: $32,250

Cash invested: $104,440 (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 70006

• Active inventory: 76
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $3,419 high
• Mortgage (P&I): −$1,956
• Tax from tax record: −$375 /mo · $4,496/yr
• Insurance: −$155
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$718
• Net cashflow: $148

Break-even live

Break-even rent $3,231

Max offer price $373,000

Occupancy floor 91%

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: $93,250
• Closing costs: $11,190
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4824 W Esplanade Ave Metairie, LA	4.0	3.5	3221	$6,300	$1.96	43d	1	0.28mi
4405 Laplace St Metairie, LA	4.0	2.5	2686	$2,800	$1.04	4d	1	0.38mi
4444 W Esplanade Ave Metairie, LA	4.0	2.0	2226	$2,600	$1.17	14d	1	0.40mi
4908 Mayeaux St Metairie, LA	4.0	2.5	3029	$3,400	$1.12	43d	1	0.40mi
4824 Folse Dr Metairie, LA	5.0	4.5	3707	$3,900	$1.05	43d	1	0.44mi
4632 Ithaca St Metairie, LA	4.0	2.5	2860	$2,600	$0.91	23d	1	0.49mi
3816 Lemon St Metairie, LA	3.0	2.0	2200	$2,500	$1.14	23d	1	0.56mi
5029 Loveland St Metairie, LA	3.0	2.0	2100	$2,500	$1.19	4d	1	0.73mi
4808 Neyrey Dr Metairie, LA	5.0	3.5	3992	$4,500	$1.13	14d	1	1.35mi

Listing history 25 events

1. 2026-06-18
   days on market $373,000 Active 128 DOM
2. 2026-06-17
   days on market $373,000 Active 127 DOM
3. 2026-06-16
   days on market $373,000 Active 126 DOM
4. 2026-06-15
   days on market $373,000 Active 125 DOM
5. 2026-06-13
   days on market $373,000 Active 123 DOM
6. 2026-06-10
   days on market $373,000 Active 120 DOM
7. 2026-06-09
   days on market $373,000 Active 119 DOM
8. 2026-06-08
   days on market $373,000 Active 118 DOM
9. 2026-06-07
   days on market $373,000 Active 117 DOM
10. 2026-06-03
    days on market $373,000 Active 113 DOM
11. 2026-06-02
    days on market $373,000 Active 112 DOM
12. 2026-06-01
    days on market $373,000 Active 111 DOM
13. 2026-05-31
    days on market $373,000 Active 110 DOM
14. 2026-02-10
    listed $373,000 Active 377-char remark

    Show marketing remark (377 chars)

    Great opportunity in Metairie. VA assumption option available. This property has a full mother in law attached to main house. This can be great for ancillary income or just extra space or income- Mother in law has full kitchen , living area and bedroom and bath, separate entry and covered patio. Main house has fireplace and 3 bedrooms and 2 baths with large open living area.

15. 2026-02-10
    listed $373,000 Active 377-char remark

    Show marketing remark (377 chars)

    Great opportunity in Metairie. VA assumption option available. This property has a full mother in law attached to main house. This can be great for ancillary income or just extra space or income- Mother in law has full kitchen , living area and bedroom and bath, separate entry and covered patio. Main house has fireplace and 3 bedrooms and 2 baths with large open living area.

16. 2023-02-23
    soldstatus $375,000
17. 2023-02-15
    soldstatus $375,000 Closed
18. 2023-01-18
    historical Active Under Contract
19. 2022-11-16
    price $399,000
20. 2022-11-04
    price $425,000
21. 2022-10-15
    price $450,000
22. 2022-10-06
    price $465,000
23. 2022-08-24
    listed $475,000 Active
24. 2022-08-24
    listed $399,000
25. 1979-03-01
    soldstatus $90,000

ⓘ 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: $4,496 · $375/mo
• Projected year-2 tax: $4,496 · $375/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) · 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: $41,025
• − Mortgage interest: −$20,894
• − Property taxes: −$4,496
• − Insurance: −$2,662
• − Repairs & maintenance: −$3,282
• − Management: −$3,282
• − Depreciation: −$10,851
• Taxable loss: −$4,442
• Est. tax savings @ 24.0%: +$1,066
• After-tax cash flow: $2,845/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): 16,170
• Household income: $76,505
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 590.0

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 0.63)
• Race & ethnicity: White 54% Hispanic / Latino 26% Two or more races 18% Black 9% Asian 6% Native American 3%
• Hispanic origin (detail): Mexican 2% Cuban 1%
• Common ancestry: Lithuanian 11% Armenian 2% Italian 1%
• Foreign-born: 24% · Canada, China, Vietnam
• Languages at home: 65% English-only · Spanish 20% Arabic 6% Other Indo-European 4%

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: ▼ -162.73%
• Current HPI: 184.7849
• Rent YoY: —
• 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

+314.4% since first listed

12 events — show timeline

• 2026-02-10 Listed $373,000 GSREIN
• 2026-02-10 Listed $373,000 AcadianaMLS
• 2023-02-23 Sold (Public Records) $375,000 Public Records
• 2023-02-15 Sold (MLS) $375,000 GSREIN
• 2023-01-18 Contingent — GSREIN
• 2022-11-16 Price Changed $399,000 GSREIN
• 2022-11-04 Price Changed $425,000 GSREIN
• 2022-10-15 Price Changed $450,000 GSREIN
• 2022-10-06 Price Changed $465,000 GSREIN
• 2022-08-24 Listed $399,000 AcadianaMLS
• 2022-08-24 Listed $475,000 GSREIN
• 1979-03-01 Sold (Public Records) $90,000 Public Records

Property tax history

+9.5%/yr

Latest (2025): $4,496 · +0.2% YoY. Source: county tax records.