1056 Farragut St · New Orleans, LA 70114

$129,900

3 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 66 Days on market

Built 1930 Est $141k · 8% 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 +30.0/30.0
• ARV discount +11.1/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Succession sale, Large 75x125 lot. Rear yard access, LR, DR, 3 bd, 1 bath only 2 blocks from General Meyers

Key facts

• Rear yard access
• Large 75x125 lot
• Garage

Tags

• LARGE 75X125 LOT
• REAR YARD ACCESS

Property features AI

Exterior

• Parking: Garage (one space)
• Utilities: Public water; Public sewer; Electric service (standard)
• Home design: One-story; Raised foundation; Stucco exterior; Shingle roof; Average condition
• Construction: Stucco construction; Shingle roof; Raised foundation; Built as a single-story structure
• Exterior features: Shed(s); City lot; Rectangular lot; Lot dimensions approximately 75 x 121

Interior

• Kitchen: Range
• Bedrooms: Total rooms: 6
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Enclosed porch; Covered, screened porch

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $442 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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; 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 $1,712/mo this rent would consume 47% 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 $898 of loan paydown is wiped out by about $4k 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 66 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $40k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $130k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1930 — 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 $122,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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: 1.32% ✓
• Cap rate: 10.99%
• Cash-on-cash: 16.78%
• DSCR: 1.75
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $141,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1056 Farragut St	0.00mi	3/1.0	1,279 (+2%)	1mo	$85,000	$66	97
1327 Shirley Dr	0.19mi	3/2.0	1,274 (+1%)	6mo	$70,000	$55	81
2024 Lamarque St	0.19mi	3/2.0	1,350 (+7%)	6mo	$151,500	$112	70
1513 Shirley Dr	0.38mi	3/1.0	1,341 (+6%)	2mo	$185,000	$138	69
1121 Southlawn Blvd	0.53mi	3/2.0	1,288 (+2%)	1mo	$145,000	$113	67
1518 Elizardi Blvd	0.54mi	2/1.0 (-1)	1,270 (+1%)	3mo	$56,000	$44	66
1100 Southlawn Blvd	0.57mi	3/2.0	1,300 (+3%)	1mo	$183,000	$141	64
1410 Hendee St	0.38mi	3/2.5	1,150 (-9%)	0mo	$90,000	$78	62
1416 Pace Blvd	0.44mi	3/1.0	1,118 (-11%)	1mo	$140,000	$125	59
1721 Pace Blvd	0.65mi	3/1.0	1,383 (+10%)	3mo	$70,000	$51	51
1761 Pace Blvd	0.69mi	3/2.0	1,390 (+10%)	3mo	$166,300	$120	44
1518 Leboeuf St	0.58mi	2/1.0 (-1)	1,095 (-13%)	3mo	$15,000	$14	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: 1.6%
• Equity multiple: 1.06×
• Total profit: $2,122
• Equity at exit: $19,369

10-year hold

• IRR: 7.9%
• Equity multiple: 1.52×
• Total profit: $18,853
• Equity at exit: $11,231

Cash invested: $36,372 (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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,712 high
• Mortgage (P&I): −$681
• Tax from tax record: −$108 /mo · $1,299/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $442

Break-even live

Break-even rent $1,152

Max offer price $129,900

Occupancy floor 69%

Sensitivity live

Price	-10% $516	-5% $479	+0% $442	+5% $405	+10% $369
Rent	-10% $307	-5% $374	+0% $442	+5% $510	+10% $577
Rate	-1.0pp $507	-0.5pp $475	base $442	+0.5pp $408	+1.0pp $374

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1108 Sumner St New Orleans, LA	3.0	1.5	1197	$1,500	$1.25	13d	1	0.22mi
1402 Behrman Ave New Orleans, LA	2.0	1.0	1673	$1,500	$0.90	25d	1	0.24mi
1418 Behrman Ave New Orleans, LA	2.0	1.0	876	$1,400	$1.60	17d	1	0.25mi
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	17d	1	0.29mi
1510 Sumner St New Orleans, LA	2.0	1.0	950	$1,474	$1.55	17d	1	0.34mi
1625 Lauradale Dr New Orleans, LA	3.0	2.0	1029	$1,700	$1.65	4d	1	0.36mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	4d	1	0.39mi
1684 Lauradale Dr New Orleans, LA	4.0	2.0	1571	$2,000	$1.27	25d	1	0.44mi
810 Whitney Ave New Orleans, LA	2.0	1.0	900	$1,250	$1.39	13d	1	0.47mi
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	4d	1	0.50mi
1200 Southlawn Blvd New Orleans, LA	3.0	2.0	950	$1,725	$1.82	25d	1	0.56mi
740 Thayer Unit 2A New Orleans, LA	2.0	2.0	950	$1,350	$1.42	25d	1	0.61mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	3d	1	0.62mi
1565 Murl St Unit B New Orleans, LA	2.0	2.0	1100	$1,100	$1.00	25d	1	0.63mi
1719 Pace Blvd New Orleans, LA	3.0	1.0	1178	$2,000	$1.70	13d	1	0.64mi
1774 Pace Blvd New Orleans, LA	4.0	2.5	1574	$2,000	$1.27	25d	1	0.71mi
3102 Lawrence St New Orleans, LA	2.0	1.0	950	$1,500	$1.58	25d	1	0.71mi
3000 Americus St New Orleans, LA	3.0	2.0	1280	$1,400	$1.09	25d	1	0.72mi
335 Whitney Ave New Orleans, LA	2.0	1.0	1100	$1,575	$1.43	25d	1	0.74mi
2320 Mardi Gras Blvd New Orleans, LA	4.0	2.5	1600	$2,500	$1.56	3d	1	0.75mi
718 Majestic Pl New Orleans, LA	3.0	2.0	1164	$1,785	$1.53	22d	1	0.78mi
1227 Flanders St New Orleans, LA	2.0	1.0	900	$1,000	$1.11	25d	1	0.82mi
543 Atlantic Ave New Orleans, LA	2.0	2.5	1430	$2,200	$1.54	25d	1	0.82mi
1313 Flanders St New Orleans, LA	2.0	1.0	900	$1,295	$1.44	21d	1	0.82mi
1945 Pace Blvd Unit 104 New Orleans, LA	2.0	1.0	1000	$1,250	$1.25	25d	1	0.83mi
1945 Pace Blvd Apt 101 New Orleans, LA	2.0	1.0	1000	$1,250	$1.25	11d	1	0.83mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	25d	1	0.84mi
2002 Pace Blvd Unit 103 New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	15d	1	0.85mi
606 Drum St New Orleans, LA	3.0	2.0	1131	$2,350	$2.08	25d	1	0.94mi
513 Park Blvd New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	4d	1	0.98mi
724 Evelina St Unit B New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	18d	1	0.99mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	25d	1	1.00mi
620 Opelousas Ave Unit 103 New Orleans, LA	2.0	1.5	1000	$1,650	$1.65	4d	1	1.01mi
507 Newton St New Orleans, LA	2.0	2.0	1150	$1,400	$1.22	25d	1	1.01mi
325 Elmira Ave Unit 325 New Orleans, LA	3.0	1.5	1050	$1,525	$1.45	25d	1	1.03mi
735 Lees Ln Unit 2 New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	25d	1	1.05mi
433 Homer St Unit 1 New Orleans, LA	4.0	2.0	1570	$1,850	$1.18	25d	1	1.06mi
329 Belleville St New Orleans, LA	2.0	1.0	1014	$1,500	$1.48	25d	1	1.07mi
1140 Teche St Apt B New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	25d	1	1.08mi
400 Park Blvd Unit A New Orleans, LA	4.0	1.5	1275	$2,200	$1.73	25d	1	1.08mi

Listing history 12 events

1. 2026-04-29
   status Pending 107-char remark

   Show marketing remark (107 chars)

   Succession sale, Large 75x125 lot. Rear yard access, LR, DR, 3 bd, 1 bath only 2 blocks from General Meyers

2. 2026-04-28
   status Pending
3. 2026-04-23
   status Active 107-char remark

   Show marketing remark (107 chars)

   Succession sale, Large 75x125 lot. Rear yard access, LR, DR, 3 bd, 1 bath only 2 blocks from General Meyers

4. 2026-04-23
   status Active

   Show marketing remark (107 chars)

   Succession sale, Large 75x125 lot. Rear yard access, LR, DR, 3 bd, 1 bath only 2 blocks from General Meyers

5. 2026-04-08
   status Pending 107-char remark

   Show marketing remark (107 chars)

   Succession sale, Large 75x125 lot. Rear yard access, LR, DR, 3 bd, 1 bath only 2 blocks from General Meyers

6. 2026-04-08
   status Pending

   Show marketing remark (107 chars)

   Succession sale, Large 75x125 lot. Rear yard access, LR, DR, 3 bd, 1 bath only 2 blocks from General Meyers

7. 2026-03-23
   price $129,900 107-char remark

   Show marketing remark (107 chars)

   Succession sale, Large 75x125 lot. Rear yard access, LR, DR, 3 bd, 1 bath only 2 blocks from General Meyers

8. 2026-03-23
   price $129,900

   Show marketing remark (107 chars)

   Succession sale, Large 75x125 lot. Rear yard access, LR, DR, 3 bd, 1 bath only 2 blocks from General Meyers

9. 2026-01-27
   listed $169,900 Active 107-char remark

   Show marketing remark (107 chars)

   Succession sale, Large 75x125 lot. Rear yard access, LR, DR, 3 bd, 1 bath only 2 blocks from General Meyers

10. 2026-01-27
    listed $169,900 Active

    Show marketing remark (107 chars)

    Succession sale, Large 75x125 lot. Rear yard access, LR, DR, 3 bd, 1 bath only 2 blocks from General Meyers

11. 2023-12-29
    listed $195,000
12. 1988-08-02
    soldstatus $45,000

ⓘ 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: $1,299 · $108/mo
• Projected year-2 tax: $1,299 · $108/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 · 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,538
• − Mortgage interest: −$7,276
• − Property taxes: −$1,299
• − Insurance: −$1,447
• − Repairs & maintenance: −$1,643
• − Management: −$1,643
• − Depreciation: −$3,779
• Taxable income: $3,451
• Est. tax owed @ 24.0%: −$828
• After-tax cash flow: $4,476/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

+188.7% since first listed

12 events — show timeline

• 2026-04-29 Pending — AcadianaMLS
• 2026-04-28 Pending — GSREIN
• 2026-04-23 Relisted — AcadianaMLS
• 2026-04-23 Relisted — GSREIN
• 2026-04-08 Pending — AcadianaMLS
• 2026-04-08 Pending — GSREIN
• 2026-03-23 Price Changed $129,900 AcadianaMLS
• 2026-03-23 Price Changed $129,900 GSREIN
• 2026-01-27 Listed $169,900 GSREIN
• 2026-01-27 Listed $169,900 AcadianaMLS
• 2023-12-29 Listed $195,000 AcadianaMLS
• 1988-08-02 Sold (Public Records) $45,000 Public Records

Property tax history

+35.5%/yr

Latest (2026): $1,299 · +0.0% YoY. Source: county tax records.