840 Morningside Dr · Terrytown, LA 70056

$145,000

3 bd · 2.0 ba · 1,410 sqft · SingleFamily · 3 Days on market

Built 1974 6,599 sqft lot Est $238k · 39% under ↓ 22% since listing

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Why this score? — see what drove the B 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 +28.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3-bedroom, 2-bath home offering approx 1,410 sq ft of comfortable living space! This property features a brick front with low-maintenance vinyl siding on the remaining sides. The home boasts a newer roof, hurricane shutters, and an enclosed garage for added living area. Enjoy outdoor living under the rear patio in the fully fenced yard. Additionally includes a metal storage shed with electricity and porch, and an additional plastic storage shed. This home is also wired for a generator. A great opportunity with tons of extras, it's just waiting for your personal touches and updates. Won't go FHA or VA, Looking for cash offers. Schedule your showing today! OWNER/AGENT

Key facts

• Enclosed garage
• Brick front
• Newer roof

Tags

• BRICK FRONT
• LOW-MAINTENANCE VINYL SIDING
• NEWER ROOF
• HURRICANE SHUTTERS
• ENCLOSED GARAGE
• REAR PATIO

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Single-story home; Shingle roof; Brick and vinyl siding exterior; Slab foundation; Property in very good condition
• Construction: Built with brick and vinyl siding; Shingle roof; Slab foundation
• Exterior features: Fenced yard; Covered patio/porch; Shed(s); Workshop; City lot; Rectangular lot; Lot dimensions approximately 60 x 115

Interior

• Kitchen: Oven; Range
• Bedrooms: Total rooms: 7
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Attic with pull-down attic stairs; Wood-burning fireplace
• Laundry & utility: Washer hookup; Dryer hookup; Washer (appliance present)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 10.2% vs local median 4.5% in Terrytown — 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 69/100 on livability (#73 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment C-, crime F, amenities F.
• 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 (-0.2%/yr); 163 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 41% 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 ($59k/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 $4k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $145,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.19% ✓
• Cap rate: 10.24%
• Cash-on-cash: 14.09%
• DSCR: 1.63
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $238,290
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
840 Morningside Dr	0.00mi	3/2.0	1,410 (0%)	0mo	$125,000	$89	100
2152 Legion Dr	0.20mi	3/2.0	1,400 (-1%)	2mo	$249,000	$178	88
828 Mystic Ave	0.05mi	3/2.0	1,308 (-7%)	1mo	$220,000	$168	84
2820 Live Oak Dr	0.35mi	3/2.0	1,453 (+3%)	2mo	$265,000	$182	77
772 Oakwood Dr	0.21mi	3/1.5	1,312 (-7%)	4mo	$160,000	$122	74
2805 Live Oak Dr	0.35mi	2/2.0 (-1)	1,363 (-3%)	1mo	$244,600	$179	72
728 Goodson Dr	0.33mi	3/2.0	1,305 (-7%)	1mo	$220,000	$169	71
2446 Ave Mont Martre Ave	0.67mi	3/2.0	1,415 (+0%)	2mo	$290,000	$205	67
2341 N Village Ct	0.33mi	2/2.5 (-1)	1,313 (-7%)	3mo	$254,000	$193	63
2336 Carol Sue Ave	0.50mi	4/2.0 (+1)	1,551 (+10%)	1mo	$135,000	$87	54
2424 Park Place Dr	0.63mi	3/2.0	1,550 (+10%)	2mo	$163,000	$105	53
2133 Esplanade Pl	0.73mi	4/2.0 (+1)	1,318 (-6%)	1mo	$170,000	$129	50

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: -1.6%
• Equity multiple: 0.94×
• Total profit: $-2,422
• Equity at exit: $21,620

10-year hold

• IRR: 4.6%
• Equity multiple: 1.30×
• Total profit: $12,000
• Equity at exit: $12,537

Cash invested: $40,600 (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 70056

• Rents YoY: -0.2%
• Active inventory: 163
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,723 high
• Mortgage (P&I): −$760
• Tax from tax record: −$64 /mo · $762/yr
• Insurance: −$60
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $410

Break-even live

Break-even rent $1,204

Max offer price $145,000

Occupancy floor 71%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
740 Oakwood Dr Gretna, LA	4.0	2.0	1290	$2,200	$1.71	43d	1	0.30mi
2350 Park Place Dr Gretna, LA	1.0–3.0	1.0–2.0	1000	$1,525	$1.52	43d	5	0.33mi
917 Monterey Ct S Unit b Gretna, LA	3.0	2.0	1500	$1,500	$1.00	43d	1	0.36mi
916 E Monterey Ct Unit A Terrytown, LA	3.0	2.0	1400	$1,600	$1.14	43d	1	0.37mi
937 E Monterey Ct Apt D Terrytown, LA	4.0	2.0	1500	$1,500	$1.00	23d	1	0.42mi
937 E Monterey Ct Apt B Terrytown, LA	3.0	2.0	1500	$1,300	$0.87	23d	1	0.42mi
2425 Oxford Pl #114 Gretna, LA	2.0	1.0	917	$1,350	$1.47	23d	1	0.52mi
2425 Oxford Pl #113 Gretna, LA	2.0	2.0	1081	$2,300	$2.13	43d	1	0.52mi
2425 Oxford Pl #132 Gretna, LA	2.0	1.0	1008	$1,500	$1.49	43d	1	0.52mi
805 Terry Pkwy Terrytown, LA	3.0	2.0	1782	$2,050	$1.15	2d	1	0.52mi
805 Terry Pkwy Terrytown, LA	3.0	2.0	1782	$2,050	$1.15	4d	1	0.52mi
2337 Park Place Dr Gretna, LA	3.0	2.5	1800	$1,650	$0.92	43d	1	0.54mi
701 Fairfax Dr #199 Gretna, LA	2.0	2.0	1060	$1,500	$1.42	43d	1	0.61mi
2424 Park Place Dr Gretna, LA	3.0	2.0	1550	$2,200	$1.42	21d	1	0.61mi
2111 Emerson St Terrytown, LA	3.0	2.5	1500	$1,650	$1.10	43d	1	0.64mi
2448 Oxford Pl Gretna, LA	3.0	2.5	1514	$1,600	$1.06	23d	1	0.67mi
653 Farmington Pl Unit B Terrytown, LA	2.0	1.5	975	$1,250	$1.28	23d	1	0.81mi
500 Behrman Hwy Gretna, LA	3.0	1.5	1600	$1,750	$1.09	4d	1	0.81mi
583 Delmar St Terrytown, LA	3.0	1.5	1426	$1,350	$0.95	43d	1	0.87mi
1932 Faith Pl Unit B Terrytown, LA	2.0	1.5	940	$1,200	$1.28	43d	1	0.87mi
502 Behrman Hwy Gretna, LA	4.0	2.0	1600	$1,750	$1.09	4d	1	0.89mi
1912 Concord Rd Gretna, LA	3.0	2.0	1535	$2,000	$1.30	23d	1	1.02mi
1784 Carol Sue Ave Gretna, LA	1.0–3.0	1.0–1.5	850	$1,035	$1.22	43d	1	1.07mi
2124 DuPont Dr Terrytown, LA	3.0	1.0	1127	$1,800	$1.60	14d	1	1.08mi
517 Diplomat St Terrytown, LA	3.0	2.0	1850	$2,000	$1.08	4d	1	1.09mi
2100 Stumpf Blvd Terrytown, LA	3.0	1.0	1100	$1,800	$1.64	4d	1	1.10mi
1906 Cooper Rd Gretna, LA	3.0	2.0	1200	$1,600	$1.33	4d	1	1.17mi
119 Planters Canal Rd Belle Chasse, LA	4.0	3.0	1840	$2,195	$1.19	23d	1	1.27mi
119 Planters Canal Rd Belle Chasse, LA	4.0	3.0	1840	$2,195	$1.19	43d	1	1.27mi
429 E Butterfly Cir Terrytown, LA	3.0	1.5	1300	$1,650	$1.27	23d	1	1.29mi
429 E Butterfly Cir Terrytown, LA	3.0	1.5	1300	$1,950	$1.50	21d	1	1.29mi
423 E Butterfly Cir Terrytown, LA	3.0	1.5	1189	$1,500	$1.26	23d	1	1.32mi
520 Wall Blvd Gretna, LA	1.0–3.0	1.0–2.0	1000	$1,545	$1.54	43d	9	1.40mi
5200 Timber Crest Dr New Orleans, LA	4.0	2.0	1530	$1,800	$1.18	23d	1	1.40mi
119 Jay St Belle Chasse, LA	2.0	2.0	1200	$900	$0.75	14d	1	1.40mi
528 Grovewood Dr Gretna, LA	4.0	2.0	1525	$2,200	$1.44	23d	1	1.41mi
1810 Stumpf Blvd Gretna, LA	3.0	1.0	1000	$1,650	$1.65	43d	1	1.46mi
349 Cherry Blossom Ln Terrytown, LA	3.0	1.5	1225	$1,600	$1.31	23d	1	1.47mi
3653 Timber Bluff Ln New Orleans, LA	4.0	2.0	1800	$2,500	$1.39	43d	1	1.49mi

Listing history 4 events

1. 2026-06-13
   remarks 674-char remark
2. 2026-06-13
   statusdays on market $145,000 Pending 3 DOM
3. 2026-06-10
   remarks 673-char remark
4. 2026-06-10
   listed $145,000 Active 1 DOM

ⓘ 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: $762 · $64/mo
• Projected year-2 tax: $798 · $66/mo
• Expected delta: +$35/yr (+$3/mo · 4.6%)

ⓘ 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 · 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,674
• − Mortgage interest: −$8,122
• − Property taxes: −$762
• − Insurance: −$1,522
• − Repairs & maintenance: −$1,654
• − Management: −$1,654
• − Depreciation: −$4,218
• Taxable income: $2,741
• Est. tax owed @ 24.0%: −$658
• After-tax cash flow: $4,265/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 — Terrytown

• Score: 69/100
• State rank: #73
• US rank: #8731

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Terrytown, LA
• County: Jefferson Parish · 426,999 people
• City population: 42,471
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 40,348
• Household income: $59,027
• Rent vs Own: 42.9% rent · 57.1% own
• Severe rent burden: 1623.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 34% White 32% Hispanic / Latino 26% Two or more races 9% Asian 4%
• Hispanic origin (detail): Mexican 3% Dominican 3%
• Common ancestry: Lithuanian 5% Italian 2% Hispanic 2%
• Foreign-born: 20% · Canada, Vietnam
• Languages at home: 67% English-only · Spanish 22% Arabic 5% French/Haitian/Cajun 2%

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: ▼ -100.20%
• Current HPI: 165.1579
• Rent YoY: ▼ -0.16%
• 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

-21.6% since first listed

3 events — show timeline

• 2026-06-09 Listed $145,000 GSREIN
• 2025-05-22 Listed $185,000 AcadianaMLS
• 1978-10-01 Sold (Public Records) — Public Records

Property tax history

+2.0%/yr

Latest (2025): $762 · +0.3% YoY. Source: county tax records.