1663 Shirley Dr · New Orleans, LA 70114

$199,000

3 bd · 2.0 ba · 1,655 sqft · SingleFamily public records · 35 Days on market

Built 1953 $120/sqft · 23% above area Est $173k · 15% over

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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 +20.9/30.0
• DSCR +6.7/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious open concept fully renovated homes features: new plumbing, roof, electrical, HVAC, bathrooms and kitchen. There are 4 bedrooms, 2.5 baths. The kitchen and baths have pretty quartz counters and shaker cabinets. Stainless appliances and GAS stove in the kitchen. NO carpet throughout, large yard and plenty of off-street parking. Just a hop skip and jump away to Downtown NOLA. Close to public transportation and more. Makes a perfect home or investment property. Located in an X flood zone!

Key facts

• Fully renovated
• New plumbing
• Open concept

Tags

• OPEN CONCEPT
• FULLY RENOVATED
• NEW PLUMBING
• NEW ROOF
• NEW ELECTRICAL
• NEW HVAC

Property features AI

Exterior

• Parking: Driveway; Three or more parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story; Raised foundation; Stucco exterior; Shingle roof; Property in excellent condition
• Construction: Built with stucco construction; Raised foundation; Shingle roof
• Exterior features: Fenced yard; Concrete patio/porch; City lot; Rectangular lot; Lot dimensions approximately 60 x 141

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range
• Bedrooms: Total rooms: 8
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Interior features: Ceiling fans; Pantry; Stainless steel appliances
• Laundry & utility: Washer hookup; Dryer hookup

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 $211 ($3k/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 $189k (4.9% below list).
• Recommended offer: $189k (4.9% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 4.4% in New Orleans — 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 81/100 on livability (#3 in LA, #1,383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime C-, employment D.
• Orleans Parish (urban): math 11% / reading 27% proficiency, ranked #69 of 98 in LA (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.7%/yr); 265 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $1,893/mo this rent would consume 52% of the median local household income ($43k/yr) (locally 2240% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 33y 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 $48k; list at $199k implies a 315% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• 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 $189,262 (4.9% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.95% ✗
• Cap rate: 7.96%
• Cash-on-cash: 5.97%
• DSCR: 1.27
• GRM: 8.8

CMA / ARV

• ARV (median comp): $173,219
• List price: $199,000
• Delta: 14.88%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2110 Mardi Gras Blvd	0.22mi	3/2.0	1,568 (-5%)	2mo	$260,500	$166	79
1728 Farragut St	0.16mi	4/2.0 (+1)	1,710 (+3%)	4mo	$112,000	$65	79
1509 Shirley Dr	0.21mi	2/1.5 (-1)	1,482 (-10%)	2mo	$45,000	$30	64
1774 Pace Blvd	0.29mi	3/2.0	1,574 (-5%)	19mo	$105,000	$67	62
1439 Lauradale Dr	0.32mi	2/2.0 (-1)	1,813 (+10%)	11mo	$206,500	$114	55
2401 Lauradale Dr	0.28mi	4/2.0 (+1)	1,528 (-8%)	21mo	$195,000	$128	52
2808 Seine St	0.60mi	3/2.5	1,791 (+8%)	12mo	$290,000	$162	46
1236 Southlawn Blvd	0.69mi	3/2.0	1,450 (-12%)	2mo	$145,000	$100	46
1309 L B Landry Ave	0.70mi	4/2.0 (+1)	1,700 (+3%)	20mo	$250,000	$147	41
1208 Shirley Dr	0.48mi	4/2.0 (+1)	1,415 (-14%)	14mo	$199,000	$141	37
3212 Magellan St	0.63mi	2/2.0 (-1)	1,536 (-7%)	21mo	$75,000	$49	36
1226 Shirley Dr	0.47mi	3/1.0	1,421 (-14%)	22mo	$95,400	$67	33

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: -12.5%
• Equity multiple: 0.56×
• Total profit: $-24,408
• Equity at exit: $29,672

10-year hold

• IRR: -8.4%
• Equity multiple: 0.54×
• Total profit: $-25,530
• 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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,893 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$92 /mo · $1,100/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $211

Break-even live

Break-even rent $1,626

Max offer price $199,000

Occupancy floor 84%

Sensitivity live

Price	-10% $323	-5% $267	+0% $211	+5% $154	+10% $98
Rent	-10% $61	-5% $136	+0% $211	+5% $285	+10% $360
Rate	-1.0pp $311	-0.5pp $261	base $211	+0.5pp $159	+1.0pp $107

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 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1684 Lauradale Dr New Orleans, LA	4.0	2.0	1571	$2,000	$1.27	24d	1	0.12mi
1719 Pace Blvd New Orleans, LA	3.0	1.0	1178	$2,000	$1.70	12d	1	0.23mi
2320 Mardi Gras Blvd New Orleans, LA	4.0	2.5	1600	$2,500	$1.56	2d	1	0.26mi
1774 Pace Blvd New Orleans, LA	4.0	2.5	1574	$2,000	$1.27	24d	1	0.27mi
3000 Americus St New Orleans, LA	3.0	2.0	1280	$1,400	$1.09	24d	1	0.41mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	2d	1	0.43mi
1402 Behrman Ave New Orleans, LA	2.0	1.0	1673	$1,500	$0.90	24d	1	0.48mi
1565 Murl St Unit B New Orleans, LA	2.0	2.0	1100	$1,100	$1.00	24d	1	0.51mi
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	16d	1	0.51mi
1108 Sumner St New Orleans, LA	3.0	1.5	1197	$1,500	$1.25	12d	1	0.68mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	44d	1	0.93mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	4d	1	0.94mi
21 Carriage Ln New Orleans, LA	3.0	2.5	1900	$2,000	$1.05	21d	1	0.94mi
718 Majestic Pl New Orleans, LA	3.0	2.0	1164	$1,785	$1.53	21d	1	0.98mi
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	4d	1	0.99mi
3725 Macarthur Blvd Unit 2A New Orleans, LA	2.0	2.0	1200	$2,750	$2.29	19d	1	1.12mi
513 Park Blvd New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	4d	1	1.12mi
606 Drum St New Orleans, LA	3.0	2.0	1131	$2,350	$2.08	24d	1	1.23mi
400 Park Blvd Unit A New Orleans, LA	4.0	1.5	1275	$2,200	$1.73	24d	1	1.23mi
729 Elmira Ave New Orleans, LA	4.0	2.0	2000	$2,000	$1.00	16d	1	1.28mi
335 Whitney Ave New Orleans, LA	2.0	1.0	1100	$1,575	$1.43	24d	1	1.28mi
543 Atlantic Ave New Orleans, LA	2.0	2.5	1430	$2,200	$1.54	24d	1	1.29mi
1318 Monroe St Gretna, LA	2.0	1.0	1200	$1,595	$1.33	3d	1	1.30mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	24d	1	1.31mi
507 Newton St New Orleans, LA	2.0	2.0	1150	$1,400	$1.22	24d	1	1.33mi
913 Milton St Gretna, LA	3.0	1.0	1061	$2,800	$2.64	44d	1	1.33mi
1140 Teche St Apt B New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	24d	1	1.33mi
300 Terry Pkwy Unit C Terrytown, LA	3.0	2.5	1532	$1,800	$1.17	24d	1	1.38mi
433 Homer St Unit 1 New Orleans, LA	4.0	2.0	1570	$1,850	$1.18	24d	1	1.39mi
241 Helen St Unit 4D Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	44d	1	1.46mi
241 Helen St Unit 3c Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	21d	1	1.46mi
2123 Browning Ln Terrytown, LA	3.0	1.5	1073	$1,650	$1.54	3d	1	1.47mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	24d	1	1.48mi

Listing history 23 events

1. 2026-06-18
   days on market $199,000 Active 35 DOM
2. 2026-06-17
   days on market $199,000 Active 34 DOM
3. 2026-06-16
   days on market $199,000 Active 33 DOM
4. 2026-06-15
   days on market $199,000 Active 32 DOM
5. 2026-06-13
   days on market $199,000 Active 30 DOM
6. 2026-06-10
   days on market $199,000 Active 27 DOM
7. 2026-06-09
   days on market $199,000 Active 26 DOM
8. 2026-06-08
   days on market $199,000 Active 25 DOM
9. 2026-06-07
   days on market $199,000 Active 24 DOM
10. 2026-06-05
    days on market $199,000 Active 21 DOM
11. 2026-06-03
    days on market $199,000 Active 20 DOM
12. 2026-06-02
    days on market $199,000 Active 19 DOM
13. 2026-06-01
    days on market $199,000 Active 18 DOM
14. 2026-05-31
    days on market $199,000 Active 17 DOM
15. 2026-05-14
    listed $199,000 Active 498-char remark

    Show marketing remark (498 chars)

    Spacious open concept fully renovated homes features: new plumbing, roof, electrical, HVAC, bathrooms and kitchen. There are 4 bedrooms, 2.5 baths. The kitchen and baths have pretty quartz counters and shaker cabinets. Stainless appliances and GAS stove in the kitchen. NO carpet throughout, large yard and plenty of off-street parking. Just a hop skip and jump away to Downtown NOLA. Close to public transportation and more. Makes a perfect home or investment property. Located in an X flood zone!

16. 2026-05-14
    listed $199,000 Active 498-char remark

    Show marketing remark (498 chars)

    Spacious open concept fully renovated homes features: new plumbing, roof, electrical, HVAC, bathrooms and kitchen. There are 4 bedrooms, 2.5 baths. The kitchen and baths have pretty quartz counters and shaker cabinets. Stainless appliances and GAS stove in the kitchen. NO carpet throughout, large yard and plenty of off-street parking. Just a hop skip and jump away to Downtown NOLA. Close to public transportation and more. Makes a perfect home or investment property. Located in an X flood zone!

17. 2025-12-05
    price $249,000
18. 2025-12-05
    price $249,000
19. 2025-10-13
    listed $279,000 Active
20. 1993-10-26
    soldstatus $47,900
21. 1993-10-15
    soldstatus $47,900
22. 1993-03-10
    listed $51,900
23. 1993-03-10
    listed $51,900

ⓘ 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: $1,100 · $92/mo
• Projected year-2 tax: $1,100 · $92/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) · 75% 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: $22,711
• − Mortgage interest: −$11,147
• − Property taxes: −$1,100
• − Insurance: −$1,792
• − Repairs & maintenance: −$1,817
• − Management: −$1,817
• − Depreciation: −$5,789
• Taxable loss: −$751
• Est. tax savings @ 24.0%: +$180
• After-tax cash flow: $2,707/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: Orleans Parish
• NCES district ID: 2201170
• Math proficiency: 11% ▼ -52.00%
• Reading proficiency: 27% ▼ -46.00%
• Median HH income: $37,011
• Composite: 15.78/100
• National rank: #9271
• State rank: #69 of 98 in LA

Livability — New Orleans

• Score: 81/100
• State rank: #3
• US rank: #1383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Orleans, LA
• County: Orleans Parish · 338,817 people
• City population: 338,817
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

Population outlook (Orleans County) Hauer SSP2

• Today (2025): 513,025 people
• By 2030: 575,781 · +12.2%
• By 2040: 700,174 · +36.5%
• By 2050: 826,541 · +61.1%
• By 2075: 1,123,374 · +119.0%
• By 2100: 1,355,609 · +164.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · Orleans

• 2024 margin: Solid D (+67.0) · D 82.2% · R 15.2% · Other 2.7%
• 2008→2024 swing: +6.7pp toward D · 2008: 60.3pp · 2024: 67.0pp
• All cycles: 2024: D+67.0 2020: D+68.2 2016: D+66.2 2012: D+62.5 2008: D+60.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

+283.4% since first listed

9 events — show timeline

• 2026-05-14 Listed $199,000 AcadianaMLS
• 2026-05-14 Listed $199,000 GSREIN
• 2025-12-05 Price Changed $249,000 AcadianaMLS
• 2025-12-05 Price Changed $249,000 GSREIN
• 2025-10-13 Listed $279,000 AcadianaMLS
• 1993-10-26 Sold (Public Records) $47,900 Public Records
• 1993-10-15 Sold (MLS) $47,900 GSREIN
• 1993-03-10 Listed $51,900 AcadianaMLS
• 1993-03-10 Listed $51,900 GSREIN

Property tax history

-4.1%/yr

Latest (2026): $1,100 · +0.0% YoY. Source: county tax records.