2813 River Rd Unit A

Jefferson, LA 70121

$149,000C

2 bd · 1.0 ba · 990 sqft · Built 1980 · SingleFamily · Active · 154 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,624/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$248
• HOA: −$150
• Vac / Maint / Mgmt: −$341
• Net cashflow: $104/mo
• Annual: $1,243/yr
• Cap rate: 7.13%
• Cash-on-cash: 2.98%
• DSCR: 1.13
• 1% rule: 1.09%
• Cash to close: $41,720

Investor read

• This is a 2-bed/1.0-bath single-family listed at $149k. Condition is rated fair.
• At list price, monthly cash flow is $104 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• It's been on market 154 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• 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.
• Location reads 72/100 on livability (#42 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D, amenities F, commute 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.
• Zoned schools: Jefferson School (math 13% / reading 31%, grade F, #415 of 646 statewide, top 67%, 666 students, 61% FRL); Riverdale High School (math 36% / reading 52%, grade F, #62 of 265 statewide, top 23%, 1,019 students, 50% FRL).
• Market conditions: Rents rising fast (+5.1%/yr); 170 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 518 units permitted in Jefferson Parish in 2024 (43 in 5+ unit buildings).
• 5 sale attempts since 2y 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.
• Cap rate 7.1% vs local median 5.1% in Jefferson — 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.
• This rent runs 33% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Kitchen cabinets — Worn appearance
• Minor: Bathtub — Visible wear
• Moderate: Exterior paint — Discoloration and wear