4001 Mcfarland St · New Orleans, LA 70126

$60,000

3 bd · 2.0 ba · 980 sqft · SingleFamily public records · 125 Days on market

Built 1945 $61/sqft · 68% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Investment opportunity. New roof, exterior walls, and windows have been recently installed; property being sold AS-IS; seller will make no repairs. Located in X flood zone. Showings by appointment only. Hold Harmless Agreement prior to entry.

Key facts

• Parking
• Built 1945
• Listed 125 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $783 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.3% 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; 37 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 $1,591/mo this rent would consume 46% 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 $415 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y ago; this cycle's ask has dropped $19k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1945 — 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 $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — 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. 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: 2.65% ✓
• Cap rate: 23.27%
• Cash-on-cash: 60.64%
• DSCR: 3.70
• GRM: 3.1

CMA / ARV

• ARV (median comp): $189,740
• List price: $60,000
• Delta: -68.38%
• 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
2519 Jasmine St	0.59mi	3/1.0	1,002 (+2%)	1mo	$187,000	$187	64
2544 Gladiolus St	0.55mi	3/2.0	1,000 (+2%)	10mo	$230,000	$230	62
3855 Metropolitan St	0.41mi	3/1.0	1,061 (+8%)	2mo	$95,000	$90	62
2856 Hiawatha St	0.10mi	2/2.0 (-1)	1,102 (+12%)	12mo	$170,000	$154	60
2517 Myrtle St	0.63mi	3/2.0	1,062 (+8%)	9mo	$174,000	$164	49
3719 Piedmont Dr	0.74mi	2/1.0 (-1)	1,020 (+4%)	1mo	$194,000	$190	49
2525 Acacia St	0.62mi	3/2.0	864 (-12%)	11mo	$145,000	$168	42
4011 Clematis St	0.73mi	3/1.0	1,089 (+11%)	1mo	$67,500	$62	42
2622 Sage St	0.61mi	2/1.0 (-1)	864 (-12%)	9mo	$125,000	$145	35
2712 Edge St	0.61mi	2/1.0 (-1)	1,112 (+14%)	6mo	$49,000	$44	35
4951 Feliciana Dr	0.75mi	3/1.0	1,118 (+14%)	4mo	$102,268	$91	34
2438 Wisteria St	0.68mi	2/1.0 (-1)	850 (-13%)	4mo	$60,000	$71	34

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: 50.7%
• Equity multiple: 3.11×
• Total profit: $35,513
• Equity at exit: $8,946

10-year hold

• IRR: 54.8%
• Equity multiple: 5.60×
• Total profit: $77,323
• Equity at exit: $5,188

Cash invested: $16,800 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,591 high
• Mortgage (P&I): −$315
• Tax from tax record: −$69 /mo · $824/yr
• Insurance: −$25
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $783

Break-even live

Break-even rent $601

Max offer price $60,000

Occupancy floor 46%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2844 Hiawatha St New Orleans, LA	2.0	1.0	975	$1,475	$1.51	23d	1	0.15mi
2754 Jasmine St New Orleans, LA	3.0	1.0	1020	$1,750	$1.72	23d	1	0.27mi
2671 Gladiolus St Unit 2669 New Orleans, LA	2.0	1.0	830	$1,250	$1.51	23d	1	0.37mi
2700 Clover St New Orleans, LA	2.0	1.0	800	$1,250	$1.56	23d	1	0.39mi
2702 Clover St New Orleans, LA	2.0	2.0	880	$1,300	$1.48	23d	1	0.39mi
2650 Gladiolus St New Orleans, LA	2.0	1.0	900	$1,600	$1.78	23d	1	0.40mi
4023 Franklin Ave New Orleans, LA	3.0	2.0	1000	$1,700	$1.70	2d	1	0.46mi
4681 Eastern St New Orleans, LA	2.0	1.0	1100	$1,400	$1.27	15d	1	0.56mi
2558 Acacia St New Orleans, LA	2.0	1.0	900	$1,500	$1.67	23d	1	0.58mi
2425 Jonquil St New Orleans, LA	2.0	2.0	1038	$1,500	$1.45	23d	1	0.69mi
4951 Eastern St New Orleans, LA	2.0	1.0	850	$1,350	$1.59	23d	1	0.75mi
4936 Baccich St New Orleans, LA	3.0	1.0	1053	$1,700	$1.61	23d	1	0.77mi
2661 Abundance St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	23d	1	0.78mi
4926 Venus St Unit 4926 New Orleans, LA	2.0	1.0	800	$1,200	$1.50	3d	1	0.87mi
4616 Marigny St New Orleans, LA	2.0	1.0	1020	$1,750	$1.72	21d	1	1.04mi
2812 Spain St New Orleans, LA	2.0	1.0	870	$1,275	$1.47	1d	1	1.17mi
2325 Florida Ave New Orleans, LA	2.0	1.0	796	$1,025	$1.29	3d	1	1.22mi
3135 N Dorgenois St New Orleans, LA	2.0	2.0	960	$1,440	$1.50	23d	1	1.24mi
3137 N Dorgenois St New Orleans, LA	2.0	2.0	960	$1,440	$1.50	17d	1	1.25mi
2509 Piety St New Orleans, LA	2.0	2.0	1056	$1,450	$1.37	23d	1	1.30mi
2152 Abundance St Unit 2152 New Orleans, LA	3.0	2.0	1100	$1,599	$1.45	3d	1	1.31mi
2152 Abundance St Unit A New Orleans, LA	3.0	1.0	800	$1,599	$2.00	3d	1	1.31mi
2421 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	11d	1	1.32mi
2423 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	11d	1	1.32mi
2241 Eads St New Orleans, LA	2.0	1.0	867	$1,500	$1.73	23d	1	1.33mi
2649 N Rocheblave St New Orleans, LA	2.0	2.0	806	$1,200	$1.49	23d	1	1.33mi
213 Warrington Dr New Orleans, LA	2.0	1.0	975	$1,500	$1.54	21d	1	1.34mi
2219 Almonaster Ave Unit A New Orleans, LA	2.0	1.0	950	$1,500	$1.58	23d	1	1.36mi
2423 Saint Roch Ave New Orleans, LA	2.0	1.0	925	$1,350	$1.46	23d	1	1.36mi
2551 N Tonti St New Orleans, LA	2.0	2.0	800	$1,450	$1.81	23d	1	1.38mi
2238 Painters St New Orleans, LA	2.0	1.0	896	$1,300	$1.45	23d	1	1.39mi
2406 Saint Roch Ave New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	17d	1	1.40mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	15d	1	1.40mi
5519 Mandeville St New Orleans, LA	3.0	1.0	1125	$1,650	$1.47	3d	1	1.42mi
5905 Lafaye St New Orleans, LA	3.0	1.0	911	$1,700	$1.87	23d	1	1.42mi
4736 Saint Anthony Ave New Orleans, LA	3.0	1.0	1100	$1,800	$1.64	15d	1	1.45mi
3420 Annette St New Orleans, LA	2.0	1.0	900	$1,200	$1.33	2d	1	1.45mi

Listing history 31 events

1. 2026-06-18
   days on market $60,000 Active 125 DOM
2. 2026-06-17
   days on market $60,000 Active 124 DOM
3. 2026-06-16
   days on market $60,000 Active 123 DOM
4. 2026-06-15
   days on market $60,000 Active 122 DOM
5. 2026-06-13
   days on market $60,000 Active 120 DOM
6. 2026-06-10
   days on market $60,000 Active 117 DOM
7. 2026-06-09
   days on market $60,000 Active 116 DOM
8. 2026-06-08
   days on market $60,000 Active 115 DOM
9. 2026-06-07
   pricedays on market $60,000 Active 114 DOM
10. 2026-06-05
    days on market $70,000 Active 111 DOM
11. 2026-06-03
    days on market $70,000 Active 110 DOM
12. 2026-06-02
    days on market $70,000 Active 109 DOM
13. 2026-06-01
    days on market $70,000 Active 108 DOM
14. 2026-05-31
    days on market $70,000 Active 107 DOM
15. 2026-03-25
    price $70,000 242-char remark

    Show marketing remark (242 chars)

    Investment opportunity. New roof, exterior walls, and windows have been recently installed; property being sold AS-IS; seller will make no repairs. Located in X flood zone. Showings by appointment only. Hold Harmless Agreement prior to entry.

16. 2026-03-24
    price $70,000 242-char remark

    Show marketing remark (242 chars)

    Investment opportunity. New roof, exterior walls, and windows have been recently installed; property being sold AS-IS; seller will make no repairs. Located in X flood zone. Showings by appointment only. Hold Harmless Agreement prior to entry.

17. 2026-02-12
    listed $79,000 Active 242-char remark

    Show marketing remark (242 chars)

    Investment opportunity. New roof, exterior walls, and windows have been recently installed; property being sold AS-IS; seller will make no repairs. Located in X flood zone. Showings by appointment only. Hold Harmless Agreement prior to entry.

18. 2026-02-12
    listed $79,000 Active 242-char remark

    Show marketing remark (242 chars)

    Investment opportunity. New roof, exterior walls, and windows have been recently installed; property being sold AS-IS; seller will make no repairs. Located in X flood zone. Showings by appointment only. Hold Harmless Agreement prior to entry.

19. 2023-11-10
    listed $88,000
20. 2023-06-01
    price $98,000
21. 2023-04-06
    listed $98,000
22. 2022-11-15
    price $110,000
23. 2022-10-14
    price $115,000
24. 2022-09-08
    price $125,000
25. 2022-08-14
    listed $110,000
26. 2022-04-18
    soldstatus $50,000
27. 2022-04-14
    soldstatus $50,000 Closed
28. 2022-04-05
    status Pending
29. 2022-04-05
    listed $50,000
30. 2022-04-05
    listed $50,000 Active
31. 2022-03-12
    listed $59,900

ⓘ 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: $824 · $69/mo
• Projected year-2 tax: $824 · $69/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: $19,098
• − Mortgage interest: −$3,361
• − Property taxes: −$824
• − Insurance: −$1,098
• − Repairs & maintenance: −$1,528
• − Management: −$1,528
• − Depreciation: −$1,745
• Taxable income: $9,014
• Est. tax owed @ 24.0%: −$2,163
• After-tax cash flow: $7,227/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

+16.9% since first listed

17 events — show timeline

• 2026-03-25 Price Changed $70,000 AcadianaMLS
• 2026-03-24 Price Changed $70,000 GSREIN
• 2026-02-12 Listed $79,000 GSREIN
• 2026-02-12 Listed $79,000 AcadianaMLS
• 2023-11-10 Listed $88,000 AcadianaMLS
• 2023-06-01 Price Changed $98,000 GSREIN
• 2023-04-06 Listed $98,000 AcadianaMLS
• 2022-11-15 Price Changed $110,000 GSREIN
• 2022-10-14 Price Changed $115,000 GSREIN
• 2022-09-08 Price Changed $125,000 GSREIN
• 2022-08-14 Listed $110,000 AcadianaMLS
• 2022-04-18 Sold (Public Records) $50,000 Public Records
• 2022-04-14 Sold (MLS) $50,000 GSREIN
• 2022-04-05 Pending — GSREIN
• 2022-04-05 Listed $50,000 GSREIN
• 2022-04-05 Listed $50,000 AcadianaMLS
• 2022-03-12 Listed $59,900 AcadianaMLS

Property tax history

+24.5%/yr

Latest (2026): $824 · -0.4% YoY. Source: county tax records.