221 Liberty Terrace Dr · New Orleans, LA 70112

$175,000

3 bd · 2.0 ba · 1,470 sqft · SingleFamily public records · 101 Days on market

Built 1984 $119/sqft · 6% above area Est $169k · at est.

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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 +25.5/30.0
• DSCR +8.4/10.0
• ARV discount +5.8/15.0
• 1% rule +5.6/10.0
• Appreciation +4.4/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks MLS

Come and view this amazing corner lot renovation opportunity that sits just minutes from I-10. This property has 3 bedrooms with tons of potential! The seller has put in new carpet, but the finishing touches must be completed by you! Schedule your private viewing today!

Key facts

• New carpet
• Corner lot
• Parking

Tags

• CORNER LOT
• RENOVATION OPPORTUNITY
• NEW CARPET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $159k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 4.3% 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 flat; 83 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 $1,864/mo this rent would consume 115% of the median local household income ($19k/yr) (locally 795% 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 (-1.2%/yr); year-one equity from $1k 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.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($159k) 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 $62k; list at $175k implies a 182% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% 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. 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.
6. 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.
7. 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: 1.06% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.99%
• DSCR: 1.44
• GRM: 7.8

CMA / ARV

• ARV (median comp): $168,523
• List price: $175,000
• Delta: 3.84%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
224 Simmons Dr	0.09mi	3/2.5	1,500 (+2%)	4mo	$189,000	$126	87
2640 Clover St	0.43mi	3/2.0	1,458 (-1%)	14mo	$95,000	$65	67
2724 Clover St	0.34mi	3/2.0	1,571 (+7%)	12mo	$275,000	$175	63
2736 Lavender St	0.37mi	4/2.0 (+1)	1,426 (-3%)	13mo	$205,000	$144	62
2640 Acacia St	0.41mi	2/2.0 (-1)	1,426 (-3%)	13mo	$150,000	$105	60
2827 Powhatan St	0.46mi	3/2.0	1,430 (-3%)	22mo	$135,000	$94	56
3320 Clematis St	0.53mi	2/1.5 (-1)	1,455 (-1%)	14mo	$128,000	$88	55
2567 Lavender St	0.57mi	3/1.5	1,326 (-10%)	3mo	$175,000	$132	53
2422 Clover St	0.63mi	3/2.0	1,534 (+4%)	15mo	$248,500	$162	51
2527 Almonaster Ave	0.70mi	3/2.0	1,398 (-5%)	19mo	$17,000	$12	43
3816 Gentilly Blvd	0.67mi	3/2.0	1,682 (+14%)	7mo	$309,000	$184	39
3700 Piedmont Dr	0.72mi	3/2.0	1,621 (+10%)	19mo	$216,500	$134	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-1.18% appreciation · 0.95% rent growth · sell at horizon

5-year hold

• IRR: 1.6%
• Equity multiple: 1.07×
• Total profit: $3,401
• Equity at exit: $40,769

10-year hold

• IRR: 6.7%
• Equity multiple: 1.59×
• Total profit: $28,889
• Equity at exit: $41,567

Cash invested: $49,000 (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 70112

• Home prices YoY: -0.8%
• Rents YoY: 0.9%
• Active inventory: 83
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,864 high
• Mortgage (P&I): −$918
• Tax from tax record: −$74 /mo · $884/yr
• Insurance: −$73
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $342

Break-even live

Break-even rent $1,431

Max offer price $175,000

Occupancy floor 77%

Sensitivity live

Price	-10% $441	-5% $391	+0% $342	+5% $292	+10% $242
Rent	-10% $194	-5% $268	+0% $342	+5% $415	+10% $489
Rate	-1.0pp $430	-0.5pp $386	base $342	+0.5pp $296	+1.0pp $250

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2739 Bay St Unit B New Orleans, LA	4.0	2.0	1400	$1,800	$1.29	21d	1	0.25mi
2644 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	18d	1	0.37mi
2646 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	18d	1	0.37mi
2702 Clover St New Orleans, LA	2.0	2.0	880	$1,300	$1.48	24d	1	0.38mi
3316 Metropolitan St New Orleans, LA	3.0	2.0	1184	$1,700	$1.44	24d	1	0.38mi
3302 Metropolitan St New Orleans, LA	4.0	2.5	1700	$2,200	$1.29	18d	1	0.39mi
2647 Myrtle St Unit 2647 New Orleans, LA	4.0	2.0	1445	$2,550	$1.76	44d	1	0.41mi
2661 Abundance St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	24d	1	0.44mi
2844 Hiawatha St New Orleans, LA	2.0	1.0	975	$1,475	$1.51	24d	1	0.48mi
2509 Sage St New Orleans, LA	3.0	1.0	1250	$1,650	$1.32	22d	1	0.53mi
2558 Acacia St New Orleans, LA	2.0	1.0	900	$1,500	$1.67	24d	1	0.53mi
2650 Gladiolus St New Orleans, LA	2.0	1.0	900	$1,600	$1.78	24d	1	0.53mi
3718 Franklin Ave New Orleans, LA	2.0	1.0	1601	$1,800	$1.12	12d	1	0.54mi
2754 Jasmine St New Orleans, LA	3.0	1.0	1020	$1,750	$1.72	24d	1	0.55mi
4023 Franklin Ave New Orleans, LA	3.0	2.0	1000	$1,700	$1.70	4d	1	0.61mi
3540 Clermont Dr New Orleans, LA	3.0	2.0	1248	$1,975	$1.58	24d	1	0.71mi
2425 Jonquil St New Orleans, LA	2.0	2.0	1038	$1,500	$1.45	24d	1	0.75mi
3135 N Dorgenois St New Orleans, LA	2.0	2.0	960	$1,440	$1.50	24d	1	0.84mi
3137 N Dorgenois St New Orleans, LA	2.0	2.0	960	$1,440	$1.50	18d	1	0.85mi
2509 Piety St New Orleans, LA	2.0	2.0	1056	$1,450	$1.37	24d	1	0.90mi
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	24d	1	0.91mi
2421 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	12d	1	0.92mi
2423 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	12d	1	0.92mi
4681 Eastern St New Orleans, LA	2.0	1.0	1100	$1,400	$1.27	17d	1	0.94mi
3001 Marigny St New Orleans, LA	2.0	1.0	1250	$1,400	$1.12	24d	1	0.95mi
2219 Almonaster Ave Unit A New Orleans, LA	2.0	1.0	950	$1,500	$1.58	24d	1	0.96mi
3327 Elysian Fields Ave New Orleans, LA	3.0	1.0	1200	$1,300	$1.08	24d	1	0.98mi
2238 Painters St New Orleans, LA	2.0	1.0	896	$1,300	$1.45	24d	1	1.01mi
2423 Saint Roch Ave New Orleans, LA	2.0	1.0	925	$1,350	$1.46	24d	1	1.02mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	17d	1	1.03mi
3907 Elysian Fields Ave New Orleans, LA	3.0	2.0	1652	$3,000	$1.82	24d	1	1.04mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	24d	1	1.06mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	17d	1	1.06mi
2406 Saint Roch Ave New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	18d	1	1.06mi
4767 Lafaye St New Orleans, LA	3.0	2.0	1469	$2,000	$1.36	24d	1	1.07mi
2152 Abundance St Unit 2152 New Orleans, LA	3.0	2.0	1100	$1,599	$1.45	4d	1	1.11mi
2010 Saint Ferdinand St New Orleans, LA	2.0	1.0	909	$1,650	$1.82	24d	1	1.12mi
2515 N Galvez St New Orleans, LA	4.0	2.0	1200	$1,200	$1.00	11d	1	1.12mi
2515 N Galvez St Unit 2515 New Orleans, LA	4.0	2.0	1200	$1,900	$1.58	24d	1	1.12mi
2229 Saint Roch Ave New Orleans, LA	2.0	1.5	1200	$1,600	$1.33	21d	1	1.12mi

Listing history 20 events

1. 2026-06-21
   days on market $175,000 Active 101 DOM
2. 2026-06-18
   days on market $175,000 Active 98 DOM
3. 2026-06-17
   days on market $175,000 Active 97 DOM
4. 2026-06-16
   days on market $175,000 Active 96 DOM
5. 2026-06-15
   days on market $175,000 Active 95 DOM
6. 2026-06-13
   days on market $175,000 Active 93 DOM
7. 2026-06-10
   days on market $175,000 Active 90 DOM
8. 2026-06-09
   days on market $175,000 Active 89 DOM
9. 2026-06-08
   days on market $175,000 Active 88 DOM
10. 2026-06-07
    days on market $175,000 Active 87 DOM
11. 2026-06-05
    days on market $175,000 Active 84 DOM
12. 2026-06-03
    days on market $175,000 Active 83 DOM
13. 2026-06-02
    days on market $175,000 Active 82 DOM
14. 2026-06-01
    days on market $175,000 Active 81 DOM
15. 2026-05-31
    days on market $175,000 Active 80 DOM
16. 2026-03-12
    listed $175,000 Active 270-char remark

    Show marketing remark (270 chars)

    Come and view this amazing corner lot renovation opportunity that sits just minutes from I-10. This property has 3 bedrooms with tons of potential! The seller has put in new carpet, but the finishing touches must be completed by you! Schedule your private viewing today!

17. 2026-03-12
    listed $175,000 Active 270-char remark

    Show marketing remark (270 chars)

    Come and view this amazing corner lot renovation opportunity that sits just minutes from I-10. This property has 3 bedrooms with tons of potential! The seller has put in new carpet, but the finishing touches must be completed by you! Schedule your private viewing today!

18. 2024-04-26
    price $150,000
19. 2024-04-23
    listed $150,000 Active
20. 1984-11-30
    soldstatus $62,000

ⓘ 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: $884 · $74/mo
• Projected year-2 tax: $962 · $80/mo
• Expected delta: +$79/yr (+$7/mo · 8.9%)

ⓘ 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) · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 22 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: $22,363
• − Mortgage interest: −$9,803
• − Property taxes: −$884
• − Insurance: −$1,672
• − Repairs & maintenance: −$1,789
• − Management: −$1,789
• − Depreciation: −$5,091
• Taxable income: $1,335
• Est. tax owed @ 24.0%: −$320
• After-tax cash flow: $3,778/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): 3,490
• Household income: $19,395
• Rent vs Own: 90.7% rent · 9.3% own
• Severe rent burden: 795.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Black 48% White 32% Asian 9% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 7% Serbian 2% Romanian 1%
• Foreign-born: 12% · China, Canada
• Languages at home: 87% English-only · Spanish 4% Other Indo-European 3% Chinese 3%

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: ▼ -1.18%
• Current HPI: 149.1655
• Rent YoY: ▲ 0.95%
• 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

+182.3% since first listed

5 events — show timeline

• 2026-03-12 Listed $175,000 AcadianaMLS
• 2026-03-12 Listed $175,000 GSREIN
• 2024-04-26 Price Changed $150,000 GSREIN
• 2024-04-23 Listed $150,000 AcadianaMLS
• 1984-11-30 Sold (Public Records) $62,000 Public Records

Property tax history

+14.7%/yr

Latest (2026): $884 · +1.1% YoY. Source: county tax records.