616 Lebeau St · Arabi, LA 70032

$279,900

4 bd · 3.0 ba · 2,055 sqft · MultiFamily · 104 Days on market

Built 1961 5,998 sqft lot $136/sqft · 21% above area Est $231k · 21% over

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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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Stunning Renovated Old Arabi Tri-plex investment property! Perfect property to add to your investment portfolio or owner occupy in the desired Old Arabi Community! All units have light wood colored floors throughout & white paint, that brightens the spaces. Unit A has a gourmet kitchen with white cabinets and counters, and the luxurious bathroom has a claw foot soaking tub, with mosaic flooring, and subway tiles on the walls. Large yard and Gazebo in the backyard. Located in Flood Zone X. Owner pays utilities and includes in rental amounts.

Key facts

• Gourmet kitchen
• Mosaic flooring
• Large yard

Tags

• RENOVATED OLD ARABI TRI-PLEX
• GOURMET KITCHEN
• CLAW FOOT SOAKING TUB
• MOSAIC FLOORING
• SUBWAY TILES
• LARGE YARD

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $956 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $280k).
• Recommended offer: $255k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 5.3% in Arabi — 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 71/100 on livability (#45 in LA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, amenities F, commute F.
• Market conditions: 99 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 112 units permitted in St. Bernard Parish in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• St. Bernard County population projected at +89% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 5y 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 $159k; list at $280k implies a 76% gain — meaningful room to come down on a strong offer.

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 $254,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.26% ✓
• Cap rate: 10.68%
• Cash-on-cash: 15.66%
• DSCR: 1.70
• GRM: 6.6

CMA / ARV

• ARV (median comp): $231,133
• List price: $279,900
• Delta: 21.10%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410-12 Community St	0.12mi	4/3.0	1,958 (-5%)	18mo	$270,000	$138	72
539 41 Angela St	0.42mi	3/3.0 (-1)	2,030 (-1%)	11mo	$215,000	$106	64
6438 Urville St	0.65mi	4/2.0	2,135 (+4%)	23mo	$53,000	$25	40

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: 5.1%
• Equity multiple: 1.20×
• Total profit: $15,550
• Equity at exit: $41,734

10-year hold

• IRR: 14.6%
• Equity multiple: 2.17×
• Total profit: $91,940
• Equity at exit: $24,201

Cash invested: $78,372 (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 70032

• Active inventory: 99
• Price-to-rent: 19.8×

Monthly cashflow live

• Estimated rent: $3,530 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$181 /mo · $2,176/yr
• Insurance: −$117
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$741
• Net cashflow: $956

Break-even live

Break-even rent $2,319

Max offer price $279,900

Occupancy floor 68%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,531
Total (3 units)			$3,530

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6900 Royal St Arabi, LA	3.0	2.0	1579	$5,888	$3.73	2d	1	0.13mi
438 Friscoville Ave Arabi, LA	3.0	2.0	1500	$3,200	$2.13	2d	1	0.16mi
1019 Center St Arabi, LA	5.0	3.0	1973	$5,888	$2.98	1d	1	0.26mi
1239 Center St Arabi, LA	4.0	2.0	1922	$3,500	$1.82	2d	1	0.51mi
1511 Schnell Dr Arabi, LA	4.0	3.0	1700	$1,850	$1.09	3d	1	0.77mi
1529 Schnell Dr Arabi, LA	3.0	2.5	1736	$2,600	$1.50	1d	1	0.85mi
309 Fawn Dr Arabi, LA	3.0	2.5	1745	$2,500	$1.43	1d	1	0.95mi
2012 Esteban St Arabi, LA	3.0	2.0	1466	$2,500	$1.71	10d	1	1.03mi
7532 Patricia St Arabi, LA	4.0	3.0	2099	$2,200	$1.05	43d	1	1.05mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	2d	1	1.05mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	1d	1	1.05mi
1824 Saint Maurice Ave New Orleans, LA	4.0	2.0	1500	$1,500	$1.00	23d	1	1.06mi
5459 Saint Claude Ave Unit 5461 New Orleans, LA	4.0	2.0	1454	$2,350	$1.62	23d	1	1.08mi
1901 Tupelo St New Orleans, LA	3.0	2.5	1568	$2,300	$1.47	3d	1	1.11mi
103 Danny Dr New Orleans, LA	4.0	2.0	2040	$2,400	$1.18	23d	1	1.11mi
424 Chinchilla Dr Arabi, LA	3.0	2.0	1735	$3,500	$2.02	15d	1	1.18mi
2001 Saint Nick Dr New Orleans, LA	4.0	2.5	2400	$2,300	$0.96	23d	1	1.32mi

Listing history 33 events

1. 2026-06-18
   days on market $279,900 Active 104 DOM
2. 2026-06-17
   days on market $279,900 Active 103 DOM
3. 2026-06-16
   days on market $279,900 Active 102 DOM
4. 2026-06-15
   days on market $279,900 Active 101 DOM
5. 2026-06-13
   days on market $279,900 Active 99 DOM
6. 2026-06-10
   days on market $279,900 Active 96 DOM
7. 2026-06-09
   days on market $279,900 Active 95 DOM
8. 2026-06-08
   days on market $279,900 Active 94 DOM
9. 2026-06-07
   days on market $279,900 Active 93 DOM
10. 2026-06-03
    days on market $279,900 Active 89 DOM
11. 2026-06-02
    days on market $279,900 Active 88 DOM
12. 2026-06-01
    days on market $279,900 Active 87 DOM
13. 2026-05-31
    days on market $279,900 Active 86 DOM
14. 2026-03-26
    price $279,900 550-char remark

    Show marketing remark (552 chars)

    Stunning Renovated Old Arabi Tri-plex investment property! Perfect property to add to your investment portfolio or owner occupy in the desired Old Arabi Community! All units have light wood colored floors throughout & white paint, that brightens the spaces. Unit A has a gourmet kitchen with white cabinets and counters, and the luxurious bathroom has a claw foot soaking tub, with mosaic flooring, and subway tiles on the walls. Large yard and Gazebo in the backyard. Located in Flood Zone X. Owner pays utilities and includes in rental amounts.

15. 2026-03-26
    price $279,900 552-char remark

    Show marketing remark (552 chars)

    Stunning Renovated Old Arabi Tri-plex investment property! Perfect property to add to your investment portfolio or owner occupy in the desired Old Arabi Community! All units have light wood colored floors throughout & white paint, that brightens the spaces. Unit A has a gourmet kitchen with white cabinets and counters, and the luxurious bathroom has a claw foot soaking tub, with mosaic flooring, and subway tiles on the walls. Large yard and Gazebo in the backyard. Located in Flood Zone X. Owner pays utilities and includes in rental amounts.

16. 2026-03-06
    listed $289,900 Active 550-char remark

    Show marketing remark (552 chars)

    Stunning Renovated Old Arabi Tri-plex investment property! Perfect property to add to your investment portfolio or owner occupy in the desired Old Arabi Community! All units have light wood colored floors throughout & white paint, that brightens the spaces. Unit A has a gourmet kitchen with white cabinets and counters, and the luxurious bathroom has a claw foot soaking tub, with mosaic flooring, and subway tiles on the walls. Large yard and Gazebo in the backyard. Located in Flood Zone X. Owner pays utilities and includes in rental amounts.

17. 2026-03-06
    listed $289,900 Active 552-char remark

    Show marketing remark (552 chars)

    Stunning Renovated Old Arabi Tri-plex investment property! Perfect property to add to your investment portfolio or owner occupy in the desired Old Arabi Community! All units have light wood colored floors throughout & white paint, that brightens the spaces. Unit A has a gourmet kitchen with white cabinets and counters, and the luxurious bathroom has a claw foot soaking tub, with mosaic flooring, and subway tiles on the walls. Large yard and Gazebo in the backyard. Located in Flood Zone X. Owner pays utilities and includes in rental amounts.

18. 2025-12-08
    price $299,900
19. 2025-12-08
    price $299,900
20. 2025-09-25
    price $305,000
21. 2025-09-25
    price $305,000
22. 2025-08-12
    listed $315,000 Active
23. 2025-01-24
    historical $750
24. 2025-01-15
    listed $750
25. 2025-01-11
    historical $750
26. 2025-01-04
    listed $750
27. 2023-09-27
    historical $1,650
28. 2023-09-06
    listed $1,650
29. 2021-07-29
    soldstatus $159,000
30. 2021-07-14
    soldstatus $145,000 Closed
31. 2021-06-06
    status Pending
32. 2021-06-03
    listed $159,000
33. 2021-06-03
    listed $159,000 Active

ⓘ 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: $2,176 · $181/mo
• Projected year-2 tax: $2,176 · $181/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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,360
• − Mortgage interest: −$15,679
• − Property taxes: −$2,176
• − Insurance: −$2,197
• − Repairs & maintenance: −$3,389
• − Management: −$3,389
• − Depreciation: −$8,143
• Taxable income: $7,388
• Est. tax owed @ 24.0%: −$1,773
• After-tax cash flow: $9,704/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)

No district data.

Livability — Arabi

• Score: 71/100
• State rank: #45
• US rank: #6891

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Arabi, LA
• City population: 4,436
• Population (ZIP): 4,436

Population outlook (St. Bernard County) Hauer SSP2

• Today (2025): 66,513 people
• By 2030: 77,768 · +16.9%
• By 2040: 101,296 · +52.3%
• By 2050: 125,770 · +89.1%
• By 2075: 188,160 · +182.9%
• By 2100: 239,339 · +259.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 60% Black 18% Hispanic / Latino 14% Two or more races 10% Asian 4%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 13% Serbian 1% Italian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 86% English-only · Spanish 4% Other Indo-European 3% Arabic 2%

Political lean MEDSL · St. Bernard

• 2024 margin: Strong R (+29.3) · D 34.5% · R 63.8% · Other 1.7%
• 2008→2024 swing: +16.1pp toward D · 2008: -45.4pp · 2024: -29.3pp
• All cycles: 2024: R+29.3 2020: R+28.5 2016: R+33.4 2012: R+24.7 2008: R+45.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.18%
• Current HPI: 224.6827
• Rent YoY: —
• Metro: —
• 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

+76.0% since first listed

20 events — show timeline

• 2026-03-26 Price Changed $279,900 AcadianaMLS
• 2026-03-26 Price Changed $279,900 GSREIN
• 2026-03-06 Listed $289,900 GSREIN
• 2026-03-06 Listed $289,900 AcadianaMLS
• 2025-12-08 Price Changed $299,900 AcadianaMLS
• 2025-12-08 Price Changed $299,900 GSREIN
• 2025-09-25 Price Changed $305,000 AcadianaMLS
• 2025-09-25 Price Changed $305,000 GSREIN
• 2025-08-12 Listed $315,000 AcadianaMLS
• 2025-01-24 Rental Removed $750 GSREIN
• 2025-01-15 Listed for Rent $750 GSREIN
• 2025-01-11 Rental Removed $750 TURBOTENANT
• 2025-01-04 Listed for Rent $750 TURBOTENANT
• 2023-09-27 Rental Removed $1,650 GSREIN
• 2023-09-06 Listed for Rent $1,650 GSREIN
• 2021-07-29 Sold (Public Records) $159,000 Public Records
• 2021-07-14 Sold (MLS) $145,000 GSREIN
• 2021-06-06 Pending — GSREIN
• 2021-06-03 Listed $159,000 GSREIN
• 2021-06-03 Listed $159,000 AcadianaMLS

Property tax history

+8.3%/yr

Latest (2025): $2,176 · -0.7% YoY. Source: county tax records.