122 Forest Dr · Jean Lafitte, LA 70037

$184,000

4 bd · 2.0 ba · 160 sqft · SingleFamily public records · 65 Days on market

Built 1999 0.37 ac lot $1150/sqft · 623% above area Est $263k · 30% under

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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 +26.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +7.0/10.0
• Schools +5.0/10.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0
• Rent growth +0.0/5.0

Listing remarks MLS

Call today to view this fabulous home including large 1/3 acre of land! This updated property includes spacious living room, accented with cathedral ceilings and ceiling fan, leading to kitchen offering attached dining area, center island, extra cabinetry, pantry and stainless steel appliances. Primary suite offers attached bathroom with double vanities, extra cabinetry, relaxing bathtub, and separate shower area. NO carpet. Spacious closets. Interior laundry room. Outside features storage shed. HUGE rear yard. Conveniently located by Belle Chasse Middle School and within the Belle Chasse School District! New Roof! Ready for you to move right in! Low property taxes!

Key facts

• Pantry
• 1/3 acre of land
• Attached dining area

Tags

• 1/3 ACRE OF LAND
• CATHEDRAL CEILINGS
• ATTACHED DINING AREA
• CENTER ISLAND
• EXTRA CABINETRY
• PANTRY

Property features AI

Finance

• HOA & community: Association: HAPPY POINT ESTATES

Exterior

• Parking: Driveway; Three or more parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story; Raised foundation; Excellent condition
• Construction: Metal siding; Vinyl siding; Asphalt shingle roof; Built as a single-story structure
• Exterior features: Covered wood porch; Porch; Shed(s)

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: Total rooms: 10
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fan(s); Cathedral ceilings; High ceilings; Pantry; Stainless steel appliances; Vaulted ceilings
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $184k.

Deal economics

• At list price, monthly cash flow is $49 ($587/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $184k).
• Recommended offer: $173k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 3.5% in Jean Lafitte — 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 57/100 on livability (#322 in LA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment D-.
• Zoned schools: Belle Chasse Elementary School (math 54% / reading 60%, grade C+, #79 of 646 statewide, top 13%, 579 students, 58% FRL); Belle Chasse Middle School (math 40% / reading 44%, grade D-, #59 of 218 statewide, top 27%, 721 students, 62% FRL); Belle Chasse High School (math 51% / reading 54%, grade C-, #30 of 265 statewide, top 12%, 959 students, 51% FRL).
• Market conditions: Rents falling (-13.6%/yr); 185 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 88 units permitted in Plaquemines Parish in 2024 (0 in 5+ unit buildings).

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.
• Plaquemines County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $80k; list at $184k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,960 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.07%
• DSCR: 1.49
• GRM: 6.9

CMA / ARV

• ARV (median comp): $262,554
• List price: $184,000
• Delta: -29.92%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.9%
• Equity multiple: 0.36×
• Total profit: $-32,885
• Equity at exit: $27,435

10-year hold

• IRR: -22.7%
• Equity multiple: 0.06×
• Total profit: $-48,469
• Equity at exit: $15,909

Cash invested: $51,520 (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 70037

• Home prices YoY: -25.4%
• Rents YoY: -13.6%
• Active inventory: 185
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,211 medium
• Mortgage (P&I): −$965
• Tax est. 1.5%: −$230 /mo · $2,760/yr
• Insurance: −$77
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $49

Break-even live

Break-even rent $2,150

Max offer price $184,000

Occupancy floor 93%

Sensitivity live

Price	-10% $176	-5% $113	+0% $49	+5% $-15	+10% $-78
Rent	-10% $-126	-5% $-38	+0% $49	+5% $136	+10% $224
Rate	-1.0pp $142	-0.5pp $96	base $49	+0.5pp $1	+1.0pp $-47

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: $46,000
• Closing costs: $5,520
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
147 Star Pl Belle Chasse, LA	3.0	1.5	872	$1,850	$2.12	3d	1	0.58mi
109 Ollie Dr Belle Chasse, LA	3.0	3.0	2235	$2,900	$1.30	45d	1	0.75mi

Listing history 30 events

1. 2026-06-21
   days on market $184,000 Active 65 DOM
2. 2026-06-18
   days on market $184,000 Active 62 DOM
3. 2026-06-17
   days on market $184,000 Active 61 DOM
4. 2026-06-16
   days on market $184,000 Active 60 DOM
5. 2026-06-15
   days on market $184,000 Active 59 DOM
6. 2026-06-13
   days on market $184,000 Active 57 DOM
7. 2026-06-13
   pricedays on market $184,000 Active 56 DOM
8. 2026-06-10
   days on market $184,800 Active 54 DOM
9. 2026-06-09
   days on market $184,800 Active 53 DOM
10. 2026-06-08
    days on market $184,800 Active 52 DOM
11. 2026-06-07
    days on market $184,800 Active 51 DOM
12. 2026-06-03
    days on market $184,800 Active 47 DOM
13. 2026-06-02
    days on market $184,800 Active 46 DOM
14. 2026-06-01
    days on market $184,800 Active 45 DOM
15. 2026-05-31
    days on market $184,800 Active 44 DOM
16. 2026-05-17
    price $184,800 674-char remark

    Show marketing remark (674 chars)

    Call today to view this fabulous home including large 1/3 acre of land! This updated property includes spacious living room, accented with cathedral ceilings and ceiling fan, leading to kitchen offering attached dining area, center island, extra cabinetry, pantry and stainless steel appliances. Primary suite offers attached bathroom with double vanities, extra cabinetry, relaxing bathtub, and separate shower area. NO carpet. Spacious closets. Interior laundry room. Outside features storage shed. HUGE rear yard. Conveniently located by Belle Chasse Middle School and within the Belle Chasse School District! New Roof! Ready for you to move right in! Low property taxes!

17. 2026-05-17
    price $184,800 674-char remark

    Show marketing remark (674 chars)

    Call today to view this fabulous home including large 1/3 acre of land! This updated property includes spacious living room, accented with cathedral ceilings and ceiling fan, leading to kitchen offering attached dining area, center island, extra cabinetry, pantry and stainless steel appliances. Primary suite offers attached bathroom with double vanities, extra cabinetry, relaxing bathtub, and separate shower area. NO carpet. Spacious closets. Interior laundry room. Outside features storage shed. HUGE rear yard. Conveniently located by Belle Chasse Middle School and within the Belle Chasse School District! New Roof! Ready for you to move right in! Low property taxes!

18. 2026-04-17
    listed $184,900 Active 674-char remark

    Show marketing remark (674 chars)

    Call today to view this fabulous home including large 1/3 acre of land! This updated property includes spacious living room, accented with cathedral ceilings and ceiling fan, leading to kitchen offering attached dining area, center island, extra cabinetry, pantry and stainless steel appliances. Primary suite offers attached bathroom with double vanities, extra cabinetry, relaxing bathtub, and separate shower area. NO carpet. Spacious closets. Interior laundry room. Outside features storage shed. HUGE rear yard. Conveniently located by Belle Chasse Middle School and within the Belle Chasse School District! New Roof! Ready for you to move right in! Low property taxes!

19. 2026-04-17
    listed $184,900 Active 674-char remark

    Show marketing remark (674 chars)

    Call today to view this fabulous home including large 1/3 acre of land! This updated property includes spacious living room, accented with cathedral ceilings and ceiling fan, leading to kitchen offering attached dining area, center island, extra cabinetry, pantry and stainless steel appliances. Primary suite offers attached bathroom with double vanities, extra cabinetry, relaxing bathtub, and separate shower area. NO carpet. Spacious closets. Interior laundry room. Outside features storage shed. HUGE rear yard. Conveniently located by Belle Chasse Middle School and within the Belle Chasse School District! New Roof! Ready for you to move right in! Low property taxes!

20. 2026-02-21
    price $184,000
21. 2026-02-21
    price $184,000
22. 2025-11-29
    price $184,900
23. 2025-11-13
    price $184,900
24. 2025-09-22
    price $194,000
25. 2025-09-22
    price $194,000
26. 2025-05-22
    price $194,900
27. 2025-05-22
    price $194,900
28. 2024-12-26
    listed $199,000 Active
29. 2024-12-26
    listed $194,000 Active
30. 1999-10-27
    soldstatus $80,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 98% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,538
• − Mortgage interest: −$10,307
• − Property taxes: −$2,760
• − Insurance: −$6,038
• − Repairs & maintenance: −$2,123
• − Management: −$2,123
• − Depreciation: −$5,353
• Taxable loss: −$2,167
• Est. tax savings @ 24.0%: +$520
• After-tax cash flow: $1,107/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 — Jean Lafitte

• Score: 57/100
• State rank: #322
• US rank: #21888

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Plaquemines Parish · 16,639 people
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 16,639
• Household income: $98,983
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 453.0

Population outlook (Plaquemines County) Hauer SSP2

• Today (2025): 24,526 people
• By 2030: 24,843 · +1.3%
• By 2040: 25,441 · +3.7%
• By 2050: 26,074 · +6.3%
• By 2075: 28,300 · +15.4%
• By 2100: 30,195 · +23.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 13% Hispanic / Latino 12% Two or more races 7% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 5% Puerto Rican 3%
• Common ancestry: Lithuanian 14% Italian 1% Slovak 1%
• Foreign-born: 6% · Canada, Vietnam, United Kingdom
• Languages at home: 89% English-only · Spanish 5% French/Haitian/Cajun 1% Vietnamese 1%

Political lean MEDSL · Plaquemines

• 2024 margin: Solid R (+38.0) · D 30.4% · R 68.4% · Other 1.2%
• 2008→2024 swing: -4.4pp toward R · 2008: -33.6pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+36.3 2016: R+33.6 2012: R+28.1 2008: R+33.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.25%
• Current HPI: 165.3973
• Rent YoY: ▼ -13.63%
• 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

+130.0% since first listed

16 events — show timeline

• 2026-06-11 Price Changed $184,000 AcadianaMLS
• 2026-06-11 Price Changed $184,000 GSREIN
• 2026-05-17 Price Changed $184,800 AcadianaMLS
• 2026-05-17 Price Changed $184,800 GSREIN
• 2026-04-17 Listed $184,900 GSREIN
• 2026-04-17 Listed $184,900 AcadianaMLS
• 2026-02-21 Price Changed $184,000 AcadianaMLS
• 2026-02-21 Price Changed $184,000 GSREIN
• 2025-11-29 Price Changed $184,900 AcadianaMLS
• 2025-11-13 Price Changed $184,900 GSREIN
• 2025-09-22 Price Changed $194,000 AcadianaMLS
• 2025-09-22 Price Changed $194,000 GSREIN
• 2025-05-22 Price Changed $194,900 AcadianaMLS
• 2025-05-22 Price Changed $194,900 GSREIN
• 2024-12-26 Listed $199,000 AcadianaMLS
• 1999-10-27 Sold (Public Records) $80,000 Public Records