3740 Rue Nichole · New Orleans, LA 70131

$234,000

4 bd · 2.0 ba · 2,376 sqft · SingleFamily public records · 119 Days on market

Built 1977 7,810 sqft lot $98/sqft · 25% below area Est $312k · 25% under

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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 +18.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Rent growth +0.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW PRICE!!! Classic home nestled in the Bocage neighborhood offering 4 bedrooms and 2 bathrooms. This gem offers a spacious family room with a timeless brick fireplace. The galley kitchen with eat in breakfast room has light filled double doors that lead out to a quaint courtyard with access to large, fenced private yard. Located in a X Flood Zone on a corner lot with a two- car garage. Price reflects some updated plumbing. Opportunity to make this rare gem into a diamond in this desired neighborhood.

Key facts

• Brick fireplace
• Galley kitchen
• Large fenced yard

Tags

• SPACIOUS FAMILY ROOM
• BRICK FIREPLACE
• GALLEY KITCHEN
• QUAINT COURTYARD
• LARGE FENCED YARD
• UPDATED PLUMBING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $234k.

Deal economics

• At list price, monthly cash flow is $151 ($2k/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 $226k (3.6% below list).
• Recommended offer: $213k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 falling (-9.2%/yr); 274 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• This rent runs 43% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 119 days — a 9% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 29y 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.

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 $212,940 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 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 1977 — 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: 0.96% ✗
• Cap rate: 7.41%
• Cash-on-cash: 3.99%
• DSCR: 1.18
• GRM: 8.6

CMA / ARV

• ARV (median comp): $311,611
• List price: $234,000
• Delta: -24.91%
• 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
5942 Warwick Ct	0.35mi	3/2.0 (-1)	2,420 (+2%)	4mo	$219,000	$90	72
5401 Wimbledon Ct	0.48mi	4/2.5	2,290 (-4%)	1mo	$259,000	$113	69
3631 Rue Andree Dr	0.18mi	4/3.0	2,562 (+8%)	7mo	$160,000	$62	69
3030 Hudson Pl	0.58mi	3/2.0 (-1)	2,412 (+2%)	2mo	$150,000	$62	64
5858 Rhodes Ave	0.59mi	4/3.0	2,388 (+0%)	6mo	$241,000	$101	63
2844 Eton St	0.70mi	4/2.0	2,400 (+1%)	8mo	$50,000	$21	59
6130 Shetland Dr	0.71mi	4/2.0	2,235 (-6%)	1mo	$325,000	$145	56
4450 Lennox Blvd	0.68mi	4/2.5	2,516 (+6%)	2mo	$385,000	$153	55
3858 S Inwood Ave	0.51mi	4/3.0	2,615 (+10%)	1mo	$265,500	$102	54
3500 Pin Oak Ave	0.34mi	3/3.5 (-1)	2,656 (+12%)	1mo	$318,000	$120	52
3576 Mimosa Ct	0.69mi	4/2.5	2,628 (+11%)	3mo	$270,000	$103	45
3350 Hyman Pl	0.69mi	3/2.5 (-1)	2,072 (-13%)	6mo	$236,500	$114	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: -15.4%
• Equity multiple: 0.47×
• Total profit: $-34,841
• Equity at exit: $34,890

10-year hold

• IRR: -13.1%
• Equity multiple: 0.34×
• Total profit: $-43,293
• Equity at exit: $20,232

Cash invested: $65,520 (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 70131

• Home prices YoY: -12.0%
• Rents YoY: -9.2%
• Active inventory: 274
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,255 high
• Mortgage (P&I): −$1,227
• Tax from tax record: −$239 /mo · $2,871/yr
• Insurance: −$98
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $151

Break-even live

Break-even rent $2,064

Max offer price $234,000

Occupancy floor 88%

Sensitivity live

Price	-10% $284	-5% $218	+0% $151	+5% $85	+10% $19
Rent	-10% $-27	-5% $62	+0% $151	+5% $241	+10% $330
Rate	-1.0pp $269	-0.5pp $211	base $151	+0.5pp $91	+1.0pp $29

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: $58,500
• Closing costs: $7,020
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3738 Somerset Dr New Orleans, LA	4.0	2.0	2247	$3,000	$1.34	15d	1	0.32mi
6015 Carlisle Ct New Orleans, LA	3.0	2.0	2300	$1,800	$0.78	17d	1	0.36mi
3751 Herald St New Orleans, LA	4.0	2.0	1624	$2,150	$1.32	25d	1	0.40mi
4254 Maple Leaf Dr New Orleans, LA	1.0–3.0	1.0–2.5	1354	$1,687	$1.25	3d	8	0.49mi
3511 Hyman Pl New Orleans, LA	3.0	2.0	1975	$2,700	$1.37	3d	1	0.69mi
6021 Brighton Pl New Orleans, LA	4.0	3.0	1840	$3,100	$1.68	17d	1	0.74mi
5823 Tullis Dr New Orleans, LA	3.0	1.5	1637	$1,600	$0.98	25d	1	0.76mi
2741 Chelsea Dr New Orleans, LA	4.0	2.5	2382	$2,500	$1.05	17d	1	0.80mi
5801 Albany Ct New Orleans, LA	4.0	2.5	2160	$2,000	$0.93	25d	1	0.88mi
3619 Pittari Pl New Orleans, LA	4.0	2.0	2000	$2,200	$1.10	25d	1	1.02mi
3653 Timber Bluff Ln New Orleans, LA	4.0	2.0	1800	$2,500	$1.39	45d	1	1.10mi
3200 Lancaster St New Orleans, LA	4.0	2.0	1678	$2,200	$1.31	25d	1	1.19mi
1410 Kabel Dr New Orleans, LA	3.0	2.0	2200	$2,200	$1.00	25d	1	1.27mi
502 Behrman Hwy Gretna, LA	4.0	2.0	1600	$1,750	$1.09	5d	1	1.43mi
500 Behrman Hwy Gretna, LA	3.0	1.5	1600	$1,750	$1.09	5d	1	1.46mi

Listing history 33 events

1. 2026-06-21
   days on market $234,000 Active 119 DOM
2. 2026-06-18
   days on market $234,000 Active 116 DOM
3. 2026-06-17
   days on market $234,000 Active 115 DOM
4. 2026-06-16
   days on market $234,000 Active 114 DOM
5. 2026-06-15
   days on market $234,000 Active 113 DOM
6. 2026-06-13
   days on market $234,000 Active 111 DOM
7. 2026-06-10
   days on market $234,000 Active 108 DOM
8. 2026-06-09
   days on market $234,000 Active 107 DOM
9. 2026-06-08
   days on market $234,000 Active 106 DOM
10. 2026-06-07
    days on market $234,000 Active 105 DOM
11. 2026-06-05
    days on market $234,000 Active 102 DOM
12. 2026-06-03
    days on market $234,000 Active 101 DOM
13. 2026-06-02
    days on market $234,000 Active 100 DOM
14. 2026-06-01
    days on market $234,000 Active 99 DOM
15. 2026-05-31
    days on market $234,000 Active 98 DOM
16. 2026-04-04
    price $234,000 507-char remark

    Show marketing remark (507 chars)

    NEW PRICE!!! Classic home nestled in the Bocage neighborhood offering 4 bedrooms and 2 bathrooms. This gem offers a spacious family room with a timeless brick fireplace. The galley kitchen with eat in breakfast room has light filled double doors that lead out to a quaint courtyard with access to large, fenced private yard. Located in a X Flood Zone on a corner lot with a two- car garage. Price reflects some updated plumbing. Opportunity to make this rare gem into a diamond in this desired neighborhood.

17. 2026-04-04
    price $234,000 507-char remark

    Show marketing remark (507 chars)

    NEW PRICE!!! Classic home nestled in the Bocage neighborhood offering 4 bedrooms and 2 bathrooms. This gem offers a spacious family room with a timeless brick fireplace. The galley kitchen with eat in breakfast room has light filled double doors that lead out to a quaint courtyard with access to large, fenced private yard. Located in a X Flood Zone on a corner lot with a two- car garage. Price reflects some updated plumbing. Opportunity to make this rare gem into a diamond in this desired neighborhood.

18. 2026-02-22
    listed $235,000 Active 507-char remark

    Show marketing remark (507 chars)

    NEW PRICE!!! Classic home nestled in the Bocage neighborhood offering 4 bedrooms and 2 bathrooms. This gem offers a spacious family room with a timeless brick fireplace. The galley kitchen with eat in breakfast room has light filled double doors that lead out to a quaint courtyard with access to large, fenced private yard. Located in a X Flood Zone on a corner lot with a two- car garage. Price reflects some updated plumbing. Opportunity to make this rare gem into a diamond in this desired neighborhood.

19. 2026-02-22
    listed $235,000 Active 507-char remark

    Show marketing remark (507 chars)

    NEW PRICE!!! Classic home nestled in the Bocage neighborhood offering 4 bedrooms and 2 bathrooms. This gem offers a spacious family room with a timeless brick fireplace. The galley kitchen with eat in breakfast room has light filled double doors that lead out to a quaint courtyard with access to large, fenced private yard. Located in a X Flood Zone on a corner lot with a two- car garage. Price reflects some updated plumbing. Opportunity to make this rare gem into a diamond in this desired neighborhood.

20. 2025-08-21
    listed $235,000 Active
21. 2025-06-22
    price $244,000
22. 2025-06-22
    price $244,000
23. 2025-05-05
    price $248,000
24. 2025-05-05
    price $248,000
25. 2025-01-20
    listed $249,000 Active
26. 2024-06-23
    listed $269,000 Active
27. 2006-04-27
    soldstatus $224,000
28. 2006-03-01
    listed $224,000
29. 2006-03-01
    listed $224,000
30. 1997-05-23
    soldstatus $143,800
31. 1997-05-20
    soldstatus $143,800
32. 1997-03-15
    listed $143,800
33. 1997-03-15
    listed $143,800

ⓘ 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: $2,871 · $239/mo
• Projected year-2 tax: $2,871 · $239/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: $27,065
• − Mortgage interest: −$13,108
• − Property taxes: −$2,871
• − Insurance: −$1,967
• − Repairs & maintenance: −$2,165
• − Management: −$2,165
• − Depreciation: −$6,807
• Taxable loss: −$2,019
• Est. tax savings @ 24.0%: +$485
• After-tax cash flow: $2,302/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): 25,151
• Household income: $62,389
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 707.0

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 0.57)
• Race & ethnicity: Black 62% White 20% Hispanic / Latino 11% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Dominican 2%
• Common ancestry: Lithuanian 4% Hispanic 1%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 9% Vietnamese 2% French/Haitian/Cajun 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: ▼ -28.08%
• Current HPI: 206.7552
• Rent YoY: ▼ -9.23%
• 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

+62.7% since first listed

18 events — show timeline

• 2026-04-04 Price Changed $234,000 AcadianaMLS
• 2026-04-04 Price Changed $234,000 GSREIN
• 2026-02-22 Listed $235,000 GSREIN
• 2026-02-22 Listed $235,000 AcadianaMLS
• 2025-08-21 Listed $235,000 AcadianaMLS
• 2025-06-22 Price Changed $244,000 AcadianaMLS
• 2025-06-22 Price Changed $244,000 GSREIN
• 2025-05-05 Price Changed $248,000 AcadianaMLS
• 2025-05-05 Price Changed $248,000 GSREIN
• 2025-01-20 Listed $249,000 AcadianaMLS
• 2024-06-23 Listed $269,000 AcadianaMLS
• 2006-04-27 Sold (MLS) $224,000 GSREIN
• 2006-03-01 Listed $224,000 AcadianaMLS
• 2006-03-01 Listed $224,000 GSREIN
• 1997-05-23 Sold (Public Records) $143,800 Public Records
• 1997-05-20 Sold (MLS) $143,800 GSREIN
• 1997-03-15 Listed $143,800 GSREIN
• 1997-03-15 Listed $143,800 AcadianaMLS

Property tax history

+0.3%/yr

Latest (2026): $2,871 · +0.0% YoY. Source: county tax records.