904 Lynnette Dr · Metairie, LA 70003

$245,000

3 bd · 2.0 ba · 1,509 sqft · SingleFamily · 3 Days on market

Built 1959 5,998 sqft lot Est $267k · 8% under

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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 +15.7/30.0
• ARV discount +11.2/15.0
• DSCR +4.8/10.0
• Livability +4.4/5.0
• 1% rule +3.7/10.0
• 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

Come See This 3 bed, 2 bath Metairie home with great living space for everyone and Vaulted ceilings throughout. The large driveway with double carport makes coming home easy in any weather. Original parkay floors in all living areas and bedrooms, no carpet. The backyard boasts a large concrete patio with sunshade for enjoying the outdoors.

Key facts

• Large concrete patio
• Large driveway
• Double carport

Tags

• VAULTED CEILINGS
• LARGE DRIVEWAY
• DOUBLE CARPORT
• ORIGINAL PARKAY FLOORS
• LARGE CONCRETE PATIO

Property features AI

Exterior

• Parking: Carport; Driveway
• Utilities: Public water; Public sewer
• Home design: Single-story; Brick construction; Very good condition
• Construction: Shingle roof; Slab foundation; Built with brick
• Exterior features: Fenced yard; Concrete patio/porch; Shed(s)

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Granite counters; Pantry
• Bedrooms: Total rooms: 6
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Granite counters; Pantry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-319 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $189k (23.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (12.9% below list).
• Recommended offer: $189k (23.0% below list) — sets the bar for cash-flow.
• Cap rate 6.8% 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 rising (+2.1%/yr); 226 active listings in the ZIP; 32 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).
• This rent runs 34% 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 $7k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 27y 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 $190k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $188,576 (23.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1959 — 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. 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. 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?
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: 0.87% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.87%
• DSCR: 1.08
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $267,093
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 Cynthia Ave	0.17mi	3/2.0	1,557 (+3%)	1mo	$258,000	$166	86
1204 N Cumberland St	0.25mi	4/2.0 (+1)	1,490 (-1%)	1mo	$270,000	$181	80
705 N Upland Ave	0.21mi	4/2.0 (+1)	1,405 (-7%)	1mo	$265,000	$189	73
1101 N Starrett Rd	0.14mi	3/2.0	1,315 (-13%)	2mo	$235,000	$179	70
1720 N Bengal Rd	0.60mi	3/2.0	1,520 (+1%)	2mo	$257,000	$169	70
8114 Dalton St	0.14mi	3/1.5	1,308 (-13%)	0mo	$260,000	$199	69
1120 Trudeau Dr	0.27mi	3/2.0	1,673 (+11%)	1mo	$289,000	$173	68
8134 Weston St	0.24mi	3/1.5	1,295 (-14%)	0mo	$175,000	$135	63
1317 Frankel Ave	0.58mi	3/2.0	1,635 (+8%)	2mo	$290,000	$177	57
1616 Eisenhower Ave	0.69mi	3/2.0	1,404 (-7%)	2mo	$210,000	$150	54
1901 Eisenhower Ave	0.75mi	3/2.0	1,603 (+6%)	2mo	$265,000	$165	53
1512 Massachusetts Ave	0.63mi	3/2.0	1,344 (-11%)	2mo	$238,000	$177	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 · 2.15% rent growth · sell at horizon

5-year hold

• IRR: -26.9%
• Equity multiple: 0.10×
• Total profit: $-61,629
• Equity at exit: $36,530

10-year hold

• IRR: -27.9%
• Equity multiple: -0.26×
• Total profit: $-86,251
• Equity at exit: $21,183

Cash invested: $68,600 (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: 226
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,134 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$192 /mo · $2,300/yr
• Insurance: −$102
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $-319

Break-even live

Break-even rent $2,538

Max offer price $188,576

Occupancy floor —

Sensitivity live

Price	-10% $-181	-5% $-250	+0% $-319	+5% $-389	+10% $-458
Rent	-10% $-488	-5% $-404	+0% $-319	+5% $-235	+10% $-151
Rate	-1.0pp $-196	-0.5pp $-257	base $-319	+0.5pp $-383	+1.0pp $-447

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
808 Cynthia Ave Metairie, LA	3.0	2.0	1500	$2,100	$1.40	15d	1	0.10mi
1001 Minnesota Ave Kenner, LA	3.0	2.0	1800	$2,100	$1.17	45d	1	0.39mi
705 N Lester Ave Metairie, LA	3.0	2.0	1334	$2,100	$1.57	45d	1	0.44mi
216 Trudeau Dr Metairie, LA	4.0	3.0	1825	$2,800	$1.53	5d	1	0.47mi
606 N Wilson St Metairie, LA	3.0	1.5	1200	$1,800	$1.50	45d	1	0.52mi
1108 Maryland Ave Kenner, LA	3.0	1.0	1050	$2,050	$1.95	15d	1	0.60mi
1712 Michigan Ave Kenner, LA	3.0	1.0	1068	$1,900	$1.78	45d	1	0.64mi
2013 Minnesota Ave Kenner, LA	4.0	2.0	1300	$2,000	$1.54	22d	1	0.68mi
413 Maryland Ave Metairie, LA	3.0	2.0	1330	$1,400	$1.05	25d	1	0.71mi
6908 Christine St Metairie, LA	3.0	2.0	1550	$2,000	$1.29	15d	1	0.79mi
6908 Christine St Metairie, LA	3.0	2.0	1550	$2,100	$1.35	25d	1	0.79mi
2012 Airline Park Blvd Metairie, LA	3.0	2.0	1583	$2,100	$1.33	25d	1	0.86mi
2606 Longwood Dr Metairie, LA	3.0	2.0	1200	$2,000	$1.67	25d	1	0.92mi
1712 Abadie Ave Metairie, LA	4.0	2.0	1900	$2,750	$1.45	25d	1	0.94mi
8817 25th St Metairie, LA	3.0	1.0	1390	$2,100	$1.51	5d	1	0.95mi
1807 Moisant St Kenner, LA	4.0	2.0	2000	$2,000	$1.00	25d	1	0.97mi
1711 Moisant St Kenner, LA	2.0	1.0	1097	$1,575	$1.44	5d	1	0.97mi
1300 Webster St Kenner, LA	3.0	2.0	1200	$1,700	$1.42	45d	1	0.99mi
1300 Webster St Kenner, LA	3.0	2.0	1200	$1,700	$1.42	25d	1	0.99mi
1108 Cardinal Ave Metairie, LA	4.0	2.0	1903	$2,650	$1.39	45d	1	1.05mi
10613 Chadwick Dr New Orleans, LA	3.0	2.0	1460	$2,200	$1.51	3d	1	1.08mi
527 Little Farms Ave New Orleans, LA	3.0	2.0	1855	$2,800	$1.51	25d	1	1.12mi
703 Linden St Metairie, LA	3.0	2.0	1650	$2,500	$1.52	21d	1	1.24mi
1216 Hymelia Ave Metairie, LA	4.0	2.0	1400	$3,500	$2.50	5d	1	1.27mi
929 Compromise St Kenner, LA	2.0	1.0	1500	$1,400	$0.93	25d	1	1.27mi
927 Compromise St Unit A Kenner, LA	2.0	1.0	1300	$1,100	$0.85	25d	1	1.27mi
6016 Loraine St Metairie, LA	3.0	1.0	1600	$1,950	$1.22	3d	1	1.29mi
1808 Elise Ave Metairie, LA	3.0	2.0	1508	$2,100	$1.39	25d	1	1.33mi
2463 Idaho Ave Kenner, LA	2.0	1.5	1200	$1,550	$1.29	25d	1	1.35mi
6801 Veterans Blvd Metairie, LA	1.0–3.0	1.0–2.0	985	$1,701	$1.73	3d	27	1.37mi
2127 Connecticut Ave Unit A Kenner, LA	3.0	2.0	1310	$2,000	$1.53	45d	1	1.42mi
10125 Stacy Ct New Orleans, LA	3.0	2.0	1950	$2,495	$1.28	21d	1	1.48mi

Listing history 3 events

1. 2026-06-21
   days on market $245,000 Active 3 DOM
2. 2026-06-18
   remarks 343-char remark

   Show marketing remark (341 chars)

   Come See This 3 bed, 2 bath Metairie home with great living space for everyone and Vaulted ceilings throughout. The large driveway with double carport makes coming home easy in any weather. Original parkay floors in all living areas and bedrooms, no carpet. The backyard boasts a large concrete patio with sunshade for enjoying the outdoors.

3. 2026-06-18
   listed $245,000 Active 1 DOM

   Show marketing remark (341 chars)

   Come See This 3 bed, 2 bath Metairie home with great living space for everyone and Vaulted ceilings throughout. The large driveway with double carport makes coming home easy in any weather. Original parkay floors in all living areas and bedrooms, no carpet. The backyard boasts a large concrete patio with sunshade for enjoying the outdoors.

ⓘ 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: $2,300 · $192/mo
• Projected year-2 tax: $2,300 · $192/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 AE · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 19 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: $25,606
• − Mortgage interest: −$13,724
• − Property taxes: −$2,300
• − Insurance: −$6,344
• − Repairs & maintenance: −$2,048
• − Management: −$2,048
• − Depreciation: −$7,127
• Taxable loss: −$7,986
• Est. tax savings @ 24.0%: +$1,917
• After-tax cash flow: $-1,916/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

+124.8% since first listed

13 events — show timeline

• 2026-06-18 Listed $245,000 GSREIN
• 2026-06-18 Listed $245,000 AcadianaMLS
• 2018-05-14 Sold (Public Records) $190,000 Public Records
• 2018-05-10 Sold (MLS) $190,000 GSREIN
• 2018-04-09 Contingent — GSREIN
• 2018-02-19 Price Changed $199,999 GSREIN
• 2018-01-19 Price Changed $215,000 GSREIN
• 2017-12-01 Listed $199,999 AcadianaMLS
• 2017-12-01 Listed $225,000 GSREIN
• 1999-07-23 Sold (MLS) $109,000 GSREIN
• 1999-07-01 Sold (Public Records) $109,000 Public Records
• 1999-06-27 Listed $109,000 GSREIN
• 1999-06-27 Listed $109,000 AcadianaMLS

Property tax history

+4.9%/yr

Latest (2025): $2,300 · +5.2% YoY. Source: county tax records.