656 Spartan Ln · Kenner, LA 70065

$199,000

3 bd · 2.0 ba · 1,148 sqft · SingleFamily · 146 Days on market

Built 1979 $173/sqft · 7% below area Est $214k · 7% 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 +18.8/30.0
• ARV discount +10.6/15.0
• DSCR +5.9/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +1.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great First time buyer home, two Driveways and Circular drive in front, separate office and laundry rooms, Wood burning fireplace with gas starter, ceiling fans, no carpet.

Key facts

• Separate office
• Circular drive
• Ceiling fans

Tags

• CIRCULAR DRIVE
• SEPARATE OFFICE
• LAUNDRY ROOMS
• WOOD BURNING FIREPLACE
• CEILING FANS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $202 ($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 $182k (8.4% below list).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 5.3% in Kenner — 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 78/100 on livability (#6 in LA, #2,414 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, employment C-, crime D.
• 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 falling (-4.2%/yr); 292 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 33% of the median local income ($67k/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.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 32y 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 $132k; list at $199k implies a 51% gain — meaningful room to come down on a strong offer.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 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. 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. Crime grade is D 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?
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: 0.92% ✗
• Cap rate: 7.51%
• Cash-on-cash: 4.34%
• DSCR: 1.19
• GRM: 9.1

CMA / ARV

• ARV (median comp): $213,698
• List price: $199,000
• Delta: -6.88%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
669 Spartan Ln	0.05mi	4/2.0 (+1)	1,199 (+4%)	0mo	$259,000	$216	85
601 Lancer Ln	0.15mi	3/2.0	1,182 (+3%)	7mo	$187,750	$159	82
3289 Continental Dr	0.19mi	3/1.5	1,123 (-2%)	6mo	$174,000	$155	81
504 E Notre Dame Pl	0.28mi	3/2.0	1,185 (+3%)	10mo	$214,000	$181	73
717 Mayfair Ln	0.16mi	3/2.0	1,303 (+14%)	2mo	$265,000	$203	69
701 Ronson Dr	0.35mi	4/2.0 (+1)	1,213 (+6%)	2mo	$250,000	$206	67
933 Ronson Dr	0.43mi	3/2.0	1,200 (+4%)	8mo	$223,000	$186	66
648 Mayfair Ln	0.14mi	4/2.0 (+1)	1,285 (+12%)	3mo	$180,000	$140	66
3293 Chateau Blvd	0.14mi	3/2.0	1,300 (+13%)	11mo	$220,000	$169	62
3028 Acron St	0.59mi	3/2.0	1,115 (-3%)	8mo	$145,000	$130	61
3128 Huntsville St	0.44mi	3/1.5	1,047 (-9%)	2mo	$127,000	$121	61
3633 E Loyola Dr	0.66mi	3/2.0	1,234 (+8%)	10mo	$253,750	$206	48

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: -12.7%
• Equity multiple: 0.55×
• Total profit: $-24,808
• Equity at exit: $29,672

10-year hold

• IRR: -8.5%
• Equity multiple: 0.53×
• Total profit: $-25,952
• Equity at exit: $17,206

Cash invested: $55,720 (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 70065

• Rents YoY: -4.2%
• Active inventory: 292
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,824 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$113 /mo · $1,350/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $202

Break-even live

Break-even rent $1,568

Max offer price $199,000

Occupancy floor 84%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 Avant Garde Cir Kenner, LA	2.0	2.0	1200	$1,500	$1.25	2d	1	0.25mi
187 Avant Garde Cir #187 Kenner, LA	2.0	1.5	1050	$1,500	$1.43	14d	1	0.25mi
1201 W Esplanade Ave Kenner, LA	1.0–2.0	1.0–2.0	746	$1,110	$1.49	43d	1	0.46mi
3120 Phoenix St Unit D Kenner, LA	2.0	1.5	1075	$1,100	$1.02	43d	1	0.47mi
309 Emerson Dr Unit C Kenner, LA	3.0	1.0	900	$1,200	$1.33	4d	1	0.70mi
1400 W Esplanade Ave Kenner, LA	2.0	1.0–2.5	801	$1,370	$1.71	43d	1	0.72mi
300 Duke Dr Unit 4 Kenner, LA	2.0	1.0	838	$1,200	$1.43	43d	1	0.74mi
1500 W Esplanade Ave Kenner, LA	2.0–3.0	2.0	1587	$2,000	$1.26	43d	1	0.75mi
300 Clemson Dr Kenner, LA	2.0	1.5	1025	$1,500	$1.46	14d	1	0.77mi
3600 Loyola Dr Unit 353 Kenner, LA	2.0	2.0	1100	$1,445	$1.31	43d	1	0.81mi
2752 Jasper St Unit A Kenner, LA	3.0	1.5	1400	$1,450	$1.04	43d	1	0.85mi
2759 Albany St Unit B Kenner, LA	3.0	2.0	1250	$1,500	$1.20	43d	1	0.86mi
2755 Huntsville St Apt C Kenner, LA	3.0	2.0	1216	$1,575	$1.30	4d	1	0.86mi
2755 Huntsville St Unit B Kenner, LA	3.0	1.5	1500	$1,650	$1.10	43d	1	0.86mi
2755 Albany St Unit D Kenner, LA	3.0	2.0	1250	$1,500	$1.20	43d	1	0.87mi
3655 Loyola Dr Unit F361 Kenner, LA	2.0	2.0	1330	$2,395	$1.80	23d	1	0.87mi
3655 Loyola Dr Apt F261 Kenner, LA	2.0	2.0	1330	$2,425	$1.82	14d	1	0.87mi
3655 Loyola Dr Unit C229 Kenner, LA	2.0	2.0	1349	$2,335	$1.73	43d	1	0.87mi
3655 Loyola Dr Unit F158 Kenner, LA	2.0	2.0	1367	$2,445	$1.79	14d	1	0.87mi
3655 Loyola Dr Unit C224 Kenner, LA	2.0	2.0	1367	$2,305	$1.69	1d	1	0.87mi
3655 Loyola Dr Unit C329 Kenner, LA	2.0	2.0	1349	$2,320	$1.72	43d	1	0.87mi
3655 Loyola Dr Unit C223 Kenner, LA	2.0	2.0	1330	$2,295	$1.73	1d	1	0.87mi
3655 Loyola Dr Unit D236 Kenner, LA	2.0	2.0	1367	$2,320	$1.70	1d	1	0.87mi
3700 Loyola Dr Unit 377 Kenner, LA	2.0	2.0	1110	$1,495	$1.35	43d	1	0.89mi
1516 Mayfield St Kenner, LA	3.0	2.0	1407	$1,900	$1.35	44d	1	0.89mi
1516 Mayfield St Kenner, LA	3.0	2.0	1407	$1,900	$1.35	43d	1	0.89mi
3611 Arizona Ave Kenner, LA	4.0	2.0	1287	$1,900	$1.48	4d	1	0.90mi
3655 Loyola Dr Unit F460 Kenner, LA	2.0	2.0	1330	$2,280	$1.71	1d	1	0.93mi
3600 W Loyola Dr Unit 182 Kenner, LA	2.0	2.0	1052	$1,515	$1.44	43d	1	0.97mi
3600 W Loyola Dr Unit 159 Kenner, LA	2.0	2.0	1052	$1,520	$1.44	43d	1	0.97mi
2804 Salem St Kenner, LA	2.0	2.0	1450	$1,400	$0.97	43d	1	0.97mi
2723 Tifton Ave Kenner, LA	3.0	2.0	1200	$1,800	$1.50	23d	1	0.97mi
2838 Kingston St Unit A Kenner, LA	3.0	1.5	1500	$1,600	$1.07	4d	1	0.98mi
2710 Helena St Kenner, LA	3.0	1.5	1400	$1,200	$0.86	14d	1	1.00mi
2714 Tifton St Kenner, LA	3.0	2.0	1275	$1,800	$1.41	43d	1	1.00mi
2700 Helena St Kenner, LA	3.0	1.5	1355	$1,700	$1.25	43d	1	1.01mi
511 27th St Kenner, LA	3.0	2.0	1200	$1,575	$1.31	4d	1	1.03mi
129 Auburn Pl Kenner, LA	3.0	2.0	1200	$1,800	$1.50	1d	1	1.04mi
3655 W Loyola Dr Kenner, LA	1.0–2.0	1.0–2.0	1169	$2,345	$2.01	1d	35	1.05mi
2726 Greenwood St Kenner, LA	2.0	1.5	980	$1,200	$1.22	43d	1	1.05mi

Listing history 31 events

1. 2026-06-02
   status $199,000 Pending 146 DOM
2. 2026-06-01
   days on market $199,000 Active 146 DOM
3. 2026-05-31
   days on market $199,000 Active 145 DOM
4. 2026-01-06
   listed $199,000 Active 173-char remark

   Show marketing remark (172 chars)

   Great First time buyer home, two Driveways and Circular drive in front, separate office and laundry rooms, Wood burning fireplace with gas starter, ceiling fans, no carpet.

5. 2026-01-06
   listed $199,000 Active 172-char remark

   Show marketing remark (172 chars)

   Great First time buyer home, two Driveways and Circular drive in front, separate office and laundry rooms, Wood burning fireplace with gas starter, ceiling fans, no carpet.

6. 2018-07-10
   soldstatus $132,000 Sold
7. 2018-07-10
   soldstatus $132,000
8. 2018-05-25
   historical Pending Continue to Show
9. 2018-02-26
   status Active
10. 2018-02-26
    historical
11. 2018-02-25
    status Active
12. 2018-02-19
    historical Pending Continue to Show
13. 2018-01-14
    price $139,000
14. 2017-10-08
    price $149,000
15. 2017-08-24
    listed $155,000 Active
16. 2017-08-23
    listed $139,000
17. 2015-11-30
    soldstatus $60,000 Sold
18. 2015-10-31
    historical Pending Continue to Show
19. 2015-10-17
    listed $67,000 Active
20. 2015-10-17
    listed $67,000
21. 2006-04-19
    soldstatus $125,000
22. 2006-04-14
    soldstatus $125,000
23. 2006-01-22
    listed $122,500
24. 2006-01-22
    listed $122,500
25. 1997-12-05
    soldstatus $70,000
26. 1997-12-01
    soldstatus $70,000
27. 1997-10-04
    listed $70,000
28. 1997-10-04
    listed $70,000
29. 1994-07-29
    soldstatus $56,000
30. 1994-05-03
    listed $58,000
31. 1994-05-03
    listed $58,000

ⓘ 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: $1,350 · $113/mo
• Projected year-2 tax: $1,350 · $113/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: $21,883
• − Mortgage interest: −$11,147
• − Property taxes: −$1,350
• − Insurance: −$995
• − Repairs & maintenance: −$1,751
• − Management: −$1,751
• − Depreciation: −$5,789
• Taxable loss: −$900
• Est. tax savings @ 24.0%: +$216
• After-tax cash flow: $2,635/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 — Kenner

• Score: 78/100
• State rank: #6
• US rank: #2414

Category grades

Amenities C- Commute B- Cost of living A+ Crime D Employment C- Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kenner, LA
• County: Jefferson Parish · 426,999 people
• City population: 66,707
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 48,936
• Household income: $67,285
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1906.0

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 0.69)
• Race & ethnicity: White 47% Hispanic / Latino 27% Two or more races 15% Black 15% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2%
• Common ancestry: Lithuanian 9% Slovak 1% Italian 1%
• Foreign-born: 19% · Canada, China, Vietnam
• Languages at home: 72% English-only · Spanish 21% 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: ▼ -214.79%
• Current HPI: 139.5115
• Rent YoY: ▼ -4.19%
• 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

+243.1% since first listed

28 events — show timeline

• 2026-01-06 Listed $199,000 AcadianaMLS
• 2026-01-06 Listed $199,000 GSREIN
• 2018-07-10 Sold (Public Records) $132,000 Public Records
• 2018-07-10 Sold (MLS) $132,000 GSREIN
• 2018-05-25 Contingent — GSREIN
• 2018-02-26 Relisted — GSREIN
• 2018-02-26 Listing Removed — GSREIN
• 2018-02-25 Relisted — GSREIN
• 2018-02-19 Contingent — GSREIN
• 2018-01-14 Price Changed $139,000 GSREIN
• 2017-10-08 Price Changed $149,000 GSREIN
• 2017-08-24 Listed $155,000 GSREIN
• 2017-08-23 Listed $139,000 AcadianaMLS
• 2015-11-30 Sold (MLS) $60,000 GSREIN
• 2015-10-31 Contingent — GSREIN
• 2015-10-17 Listed $67,000 GSREIN
• 2015-10-17 Listed $67,000 AcadianaMLS
• 2006-04-19 Sold (Public Records) $125,000 Public Records
• 2006-04-14 Sold (MLS) $125,000 GSREIN
• 2006-01-22 Listed $122,500 GSREIN
• 2006-01-22 Listed $122,500 AcadianaMLS
• 1997-12-05 Sold (MLS) $70,000 GSREIN
• 1997-12-01 Sold (Public Records) $70,000 Public Records
• 1997-10-04 Listed $70,000 AcadianaMLS
• 1997-10-04 Listed $70,000 GSREIN
• 1994-07-29 Sold (MLS) $56,000 GSREIN
• 1994-05-03 Listed $58,000 GSREIN
• 1994-05-03 Listed $58,000 AcadianaMLS

Property tax history

+2.4%/yr

Latest (2025): $1,350 · -0.4% YoY. Source: county tax records.