7031 Morrison Rd · New Orleans, LA 70126

$190,000

3 bd · 2.0 ba · 1,608 sqft · SingleFamily public records · 102 Days on market

Built 1969 $118/sqft · 16% below area Est $226k · 16% under · waterfront

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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 +17.3/30.0
• ARV discount +14.7/15.0
• DSCR +5.4/10.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This must see 3-bedroom, 2-bath home offers 1,600 sq ft of living space and features granite countertops, renovated bathrooms, plantation shutters, and a 5-year-old roof. The dining area opens to a spacious backyard, for entertaining. Additional highlights include hurricane shutters, ADT security system, two off-street parking spaces, ceramic tile in the bedrooms, and wood flooring in the living area. Conveniently located just 15 blocks from Lake Pontchartrain and 2 miles from the University of New Orleans and Benjamin Franklin High School, with nearby attractions including Kenilworth Park, the Lakefront walking trail, and local favorite Castnet Seafood Restaurant. The Kenilworth subdivision also features 7-day patrol security. A great opportunity for first-time homebuyers or investors.

Key facts

• Parking
• Built 1969
• Listed 101 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $74 ($885/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 $174k (8.4% below list).
• Recommended offer: $173k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 (-0.2%/yr); 224 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $1,741/mo this rent would consume 50% of the median local household income ($42k/yr) (locally 1767% 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 102 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 34y 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 $71k; list at $190k implies a 168% 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 $172,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 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 1969 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 0.92% ✗
• Cap rate: 7.18%
• Cash-on-cash: 3.16%
• DSCR: 1.14
• GRM: 9.1

CMA / ARV

• ARV (median comp): $225,908
• List price: $190,000
• Delta: -15.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6911 Dorchester St	0.14mi	3/2.0	1,496 (-7%)	9mo	$135,000	$90	74
7800 Allison Rd	0.35mi	3/2.0	1,686 (+5%)	2mo	$190,000	$113	74
7701 Allison Rd	0.32mi	3/2.0	1,648 (+2%)	11mo	$165,000	$100	72
27 Curtis Dr	0.44mi	3/2.5	1,624 (+1%)	11mo	$46,500	$29	66
6721 Dorchester Dr	0.26mi	3/2.0	1,800 (+12%)	2mo	$209,000	$116	66
7611 Fieldston Rd	0.35mi	4/2.5 (+1)	1,701 (+6%)	1mo	$260,000	$153	66
7608 Dogwood Dr	0.48mi	3/2.0	1,554 (-3%)	13mo	$149,330	$96	62
6953 E Laverne St	0.61mi	2/1.0 (-1)	1,560 (-3%)	4mo	$87,000	$56	55
7500 Primrose Dr	0.54mi	3/2.0	1,750 (+9%)	6mo	$190,000	$109	54
7533 Primrose Dr	0.58mi	3/2.0	1,534 (-5%)	14mo	$177,000	$115	53
5164 Basinview Dr	0.52mi	3/2.0	1,493 (-7%)	15mo	$179,900	$120	52
5116 Basinview Dr	0.58mi	3/2.0	1,445 (-10%)	15mo	$155,000	$107	44

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: -17.0%
• Equity multiple: 0.41×
• Total profit: $-31,170
• Equity at exit: $28,330

10-year hold

• IRR: -15.7%
• Equity multiple: 0.23×
• Total profit: $-40,727
• Equity at exit: $16,428

Cash invested: $53,200 (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 70126

• Home prices YoY: -17.0%
• Rents YoY: -0.2%
• Active inventory: 224
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,741 high
• Mortgage (P&I): −$996
• Tax from tax record: −$159 /mo · $1,911/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $74

Break-even live

Break-even rent $1,647

Max offer price $190,000

Occupancy floor 91%

Sensitivity live

Price	-10% $181	-5% $128	+0% $74	+5% $20	+10% $-34
Rent	-10% $-64	-5% $5	+0% $74	+5% $143	+10% $211
Rate	-1.0pp $169	-0.5pp $122	base $74	+0.5pp $25	+1.0pp $-26

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7530 Newcastle St New Orleans, LA	3.0	2.0	1913	$1,800	$0.94	25d	1	0.46mi
8025 Pompano St New Orleans, LA	3.0	1.0	1131	$1,595	$1.41	17d	1	0.53mi
7909 Edward St New Orleans, LA	3.0	1.5	1073	$1,850	$1.72	4d	1	0.53mi
6628 Harbourview Dr New Orleans, LA	3.0	2.5	1520	$1,700	$1.12	4d	1	0.62mi
6027 Wales St New Orleans, LA	3.0	1.0	1146	$1,550	$1.35	25d	1	0.85mi
6032 Kuebel Dr New Orleans, LA	3.0	2.0	1100	$1,600	$1.45	25d	1	0.85mi
5611 Rickert Dr New Orleans, LA	3.0	2.5	2155	$2,900	$1.35	45d	1	0.85mi
6025 Wales St New Orleans, LA	3.0	1.0	1147	$1,550	$1.35	25d	1	0.85mi
6030 Kuebel Dr New Orleans, LA	3.0	2.0	1100	$1,600	$1.45	25d	1	0.85mi
4819 21 Francis Dr New Orleans, LA	3.0	1.0	1272	$1,880	$1.48	4d	1	0.87mi
7918 W Laverne St New Orleans, LA	3.0	2.0	1166	$1,750	$1.50	25d	1	0.91mi
4745 Francis Dr New Orleans, LA	3.0	2.0	1311	$1,550	$1.18	17d	1	0.93mi
7611 Mayfair Pl New Orleans, LA	2.0	1.5	1440	$1,450	$1.01	4d	1	0.96mi
4880 Viola St New Orleans, LA	3.0	2.0	1150	$1,595	$1.39	25d	1	0.99mi
7404 Sussex Pl New Orleans, LA	2.0	1.5	1400	$1,450	$1.04	4d	1	1.00mi
5704 Count Ln New Orleans, LA	3.0	1.5	1572	$1,700	$1.08	25d	1	1.00mi
7401 Scottsdale Dr New Orleans, LA	3.0	2.5	2100	$2,000	$0.95	25d	1	1.02mi
7702 Belcrest Pl New Orleans, LA	3.0	1.5	1150	$1,650	$1.43	25d	1	1.02mi
4745 Tulip St New Orleans, LA	3.0	1.0	1125	$1,750	$1.56	21d	1	1.04mi
4808 Viola St New Orleans, LA	3.0	2.0	1130	$1,500	$1.33	25d	1	1.05mi
4722 Shalimar Dr New Orleans, LA	3.0	2.0	1157	$1,400	$1.21	25d	1	1.07mi
4828 Eastview Dr New Orleans, LA	4.0	2.0	1260	$1,675	$1.33	25d	1	1.20mi
8802 Morrison Rd New Orleans, LA	2.0	1.0	1071	$1,275	$1.19	25d	1	1.21mi
4452 Plum Orchard Ave New Orleans, LA	2.0	1.0	1100	$1,250	$1.14	4d	1	1.22mi
7230 Yorktown Dr New Orleans, LA	3.0	2.0	1550	$1,600	$1.03	25d	1	1.22mi
7230 Yorktown Dr New Orleans, LA	3.0	2.0	1550	$1,600	$1.03	17d	1	1.22mi
4527 Shalimar Dr New Orleans, LA	3.0	1.5	1174	$1,550	$1.32	25d	1	1.22mi
4522 Shalimar Dr New Orleans, LA	3.0	2.0	1350	$1,850	$1.37	25d	1	1.23mi
7608 Laine Ave New Orleans, LA	3.0	2.5	2060	$1,950	$0.95	25d	1	1.24mi
6910 Bunker Hill Rd New Orleans, LA	3.0	2.5	1785	$1,400	$0.78	21d	1	1.24mi
5920 Boeing St New Orleans, LA	3.0	1.5	1340	$1,400	$1.04	25d	1	1.30mi
8936 Curran Blvd New Orleans, LA	3.0	2.0	2050	$1,575	$0.77	22d	1	1.31mi
7063 Boston Dr New Orleans, LA	4.0	2.5	1750	$1,900	$1.09	17d	1	1.32mi
9002 Morrison Rd New Orleans, LA	2.0	1.5	1050	$1,150	$1.10	21d	1	1.34mi
7202 Salem Dr New Orleans, LA	3.0	2.5	1995	$1,750	$0.88	25d	1	1.34mi
4409 Skyview Dr New Orleans, LA	4.0	2.5	1560	$1,700	$1.09	17d	1	1.34mi
4441 Cessna Ct New Orleans, LA	3.0	1.5	1400	$1,600	$1.14	25d	1	1.35mi
7201 Salem Dr New Orleans, LA	3.0	2.5	1764	$1,650	$0.94	25d	1	1.36mi
9020 Bunker Hill Rd New Orleans, LA	3.0	1.5	1400	$1,400	$1.00	25d	1	1.39mi
9022 Bunker Hill Rd New Orleans, LA	3.0	1.5	1400	$1,400	$1.00	25d	1	1.39mi

Listing history 24 events

1. 2026-06-21
   days on market $190,000 Active 102 DOM
2. 2026-06-18
   days on market $190,000 Active 99 DOM
3. 2026-06-17
   days on market $190,000 Active 98 DOM
4. 2026-06-16
   days on market $190,000 Active 97 DOM
5. 2026-06-15
   days on market $190,000 Active 96 DOM
6. 2026-06-13
   days on market $190,000 Active 94 DOM
7. 2026-06-10
   days on market $190,000 Active 91 DOM
8. 2026-06-09
   days on market $190,000 Active 90 DOM
9. 2026-06-08
   days on market $190,000 Active 89 DOM
10. 2026-06-07
    days on market $190,000 Active 88 DOM
11. 2026-06-05
    days on market $190,000 Active 85 DOM
12. 2026-06-03
    days on market $190,000 Active 84 DOM
13. 2026-06-02
    days on market $190,000 Active 83 DOM
14. 2026-06-01
    days on market $190,000 Active 82 DOM
15. 2026-05-31
    days on market $190,000 Active 81 DOM
16. 2026-03-25
    price $190,000 797-char remark

    Show marketing remark (797 chars)

    This must see 3-bedroom, 2-bath home offers 1,600 sq ft of living space and features granite countertops, renovated bathrooms, plantation shutters, and a 5-year-old roof. The dining area opens to a spacious backyard, for entertaining. Additional highlights include hurricane shutters, ADT security system, two off-street parking spaces, ceramic tile in the bedrooms, and wood flooring in the living area. Conveniently located just 15 blocks from Lake Pontchartrain and 2 miles from the University of New Orleans and Benjamin Franklin High School, with nearby attractions including Kenilworth Park, the Lakefront walking trail, and local favorite Castnet Seafood Restaurant. The Kenilworth subdivision also features 7-day patrol security. A great opportunity for first-time homebuyers or investors.

17. 2026-03-25
    price $190,000 797-char remark

    Show marketing remark (797 chars)

    This must see 3-bedroom, 2-bath home offers 1,600 sq ft of living space and features granite countertops, renovated bathrooms, plantation shutters, and a 5-year-old roof. The dining area opens to a spacious backyard, for entertaining. Additional highlights include hurricane shutters, ADT security system, two off-street parking spaces, ceramic tile in the bedrooms, and wood flooring in the living area. Conveniently located just 15 blocks from Lake Pontchartrain and 2 miles from the University of New Orleans and Benjamin Franklin High School, with nearby attractions including Kenilworth Park, the Lakefront walking trail, and local favorite Castnet Seafood Restaurant. The Kenilworth subdivision also features 7-day patrol security. A great opportunity for first-time homebuyers or investors.

18. 2026-03-10
    listed $199,000 Active 797-char remark

    Show marketing remark (797 chars)

    This must see 3-bedroom, 2-bath home offers 1,600 sq ft of living space and features granite countertops, renovated bathrooms, plantation shutters, and a 5-year-old roof. The dining area opens to a spacious backyard, for entertaining. Additional highlights include hurricane shutters, ADT security system, two off-street parking spaces, ceramic tile in the bedrooms, and wood flooring in the living area. Conveniently located just 15 blocks from Lake Pontchartrain and 2 miles from the University of New Orleans and Benjamin Franklin High School, with nearby attractions including Kenilworth Park, the Lakefront walking trail, and local favorite Castnet Seafood Restaurant. The Kenilworth subdivision also features 7-day patrol security. A great opportunity for first-time homebuyers or investors.

19. 2026-03-10
    listed $199,000 Active 797-char remark

    Show marketing remark (797 chars)

    This must see 3-bedroom, 2-bath home offers 1,600 sq ft of living space and features granite countertops, renovated bathrooms, plantation shutters, and a 5-year-old roof. The dining area opens to a spacious backyard, for entertaining. Additional highlights include hurricane shutters, ADT security system, two off-street parking spaces, ceramic tile in the bedrooms, and wood flooring in the living area. Conveniently located just 15 blocks from Lake Pontchartrain and 2 miles from the University of New Orleans and Benjamin Franklin High School, with nearby attractions including Kenilworth Park, the Lakefront walking trail, and local favorite Castnet Seafood Restaurant. The Kenilworth subdivision also features 7-day patrol security. A great opportunity for first-time homebuyers or investors.

20. 1993-10-15
    soldstatus $71,000
21. 1993-10-15
    soldstatus $71,000
22. 1992-07-23
    listed $73,500
23. 1992-07-23
    listed $73,500
24. 1979-12-05
    soldstatus $68,500

ⓘ 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: $1,911 · $159/mo
• Projected year-2 tax: $1,911 · $159/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 ≥107°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: $20,887
• − Mortgage interest: −$10,643
• − Property taxes: −$1,911
• − Insurance: −$1,748
• − Repairs & maintenance: −$1,671
• − Management: −$1,671
• − Depreciation: −$5,527
• Taxable loss: −$2,284
• Est. tax savings @ 24.0%: +$548
• After-tax cash flow: $1,434/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): 27,047
• Household income: $41,709
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 1767.0

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 (85%)
• Race & ethnicity: Black 85% Hispanic / Latino 6% Two or more races 5% White 5%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 5% 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: ▼ -36.35%
• Current HPI: 177.355
• Rent YoY: ▼ -0.24%
• 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

+177.4% since first listed

9 events — show timeline

• 2026-03-25 Price Changed $190,000 AcadianaMLS
• 2026-03-25 Price Changed $190,000 GSREIN
• 2026-03-10 Listed $199,000 GSREIN
• 2026-03-10 Listed $199,000 AcadianaMLS
• 1993-10-15 Sold (Public Records) $71,000 Public Records
• 1993-10-15 Sold (MLS) $71,000 GSREIN
• 1992-07-23 Listed $73,500 AcadianaMLS
• 1992-07-23 Listed $73,500 GSREIN
• 1979-12-05 Sold (Public Records) $68,500 Public Records

Property tax history

+15.1%/yr

Latest (2026): $1,911 · +406.4% YoY. Source: county tax records.