1123 Teche St · New Orleans, LA 70114

$59,900

4 bd · 2.0 ba · 1,774 sqft · SingleFamily public records · 102 Days on market

Built 1959 $34/sqft · 92% below area

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Awesome investment opportunity in Algiers. This property could easily become a single family or multifamily, restaurant/bar, daycare, retail space, neighborhood store, or even a beautiful single family home. This property is surrounded by residential homes as well as several commercial businesses. It is also located a short distance to the Algiers Ferry or the Gretna bus line. Call today for an appointment

Key facts

• Single family
• Multifamily
• Built 1959

Tags

• SINGLE FAMILY
• MULTIFAMILY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $60k).
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.
• Cap rate 40.4% 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 soft (-0.7%/yr); 265 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $2,726/mo this rent would consume 75% 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 $414 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 ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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; built in 1959 — 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,509 (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 1959 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 4.55% ✓
• Cap rate: 40.44%
• Cash-on-cash: 121.97%
• DSCR: 6.43
• GRM: 1.8

CMA / ARV

• ARV (median comp): $712,995
• List price: $59,900
• Delta: -91.60%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
422 Red Allen Way	0.28mi	3/2.0 (-1)	1,800 (+2%)	1mo	$440,000	$244	79
419 Homer St	0.18mi	3/2.0 (-1)	1,785 (+1%)	13mo	$419,000	$235	75
935 Belleville St	0.26mi	3/2.0 (-1)	1,847 (+4%)	2mo	$370,000	$200	74
423 Diana St	0.06mi	4/2.0	1,958 (+10%)	10mo	$389,000	$199	72
320 De Armas St	0.03mi	3/2.0 (-1)	1,508 (-15%)	3mo	$138,689	$92	66
415 Vallette St	0.58mi	3/2.0 (-1)	1,700 (-4%)	2mo	$379,000	$223	60
1210 Belleville St	0.25mi	3/2.0 (-1)	1,600 (-10%)	10mo	$55,000	$34	58
441 Hancock St	0.62mi	3/2.0 (-1)	1,730 (-2%)	10mo	$380,000	$220	54
1600 Bodenger Blvd	0.48mi	3/2.5 (-1)	1,558 (-12%)	1mo	$102,000	$65	50
1321 Pacific Ave	0.37mi	3/1.5 (-1)	1,520 (-14%)	8mo	$60,000	$39	46
820 Eliza St	0.58mi	3/3.0 (-1)	1,900 (+7%)	9mo	$359,000	$189	45
301 Pelican Ave	0.55mi	4/2.0	2,002 (+13%)	20mo	$499,900	$250	37

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: —
• Equity multiple: 6.17×
• Total profit: $86,751
• Equity at exit: $8,931

10-year hold

• IRR: —
• Equity multiple: 11.70×
• Total profit: $179,447
• Equity at exit: $5,179

Cash invested: $16,772 (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: 1.8×

Monthly cashflow live

• Estimated rent: $2,726 high
• Mortgage (P&I): −$314
• Tax from tax record: −$110 /mo · $1,316/yr
• Insurance: −$25
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$572
• Net cashflow: $1,638

Break-even live

Break-even rent $652

Max offer price $59,900

Occupancy floor 35%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
433 Homer St Unit 1 New Orleans, LA	4.0	2.0	1570	$1,850	$1.18	23d	1	0.16mi
400 Park Blvd Unit A New Orleans, LA	4.0	1.5	1275	$2,200	$1.73	23d	1	0.28mi
513 Park Blvd New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	3d	1	0.33mi
729 Elmira Ave New Orleans, LA	4.0	2.0	2000	$2,000	$1.00	16d	1	0.39mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	23d	1	0.58mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	23d	1	0.66mi
249 Vallette St New Orleans, LA	4.0	2.0	1734	$2,500	$1.44	16d	1	0.67mi
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	3d	1	0.70mi
119 Vallette St New Orleans, LA	3.0	2.5	1500	$2,100	$1.40	23d	1	0.75mi
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	16d	1	0.88mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	3d	1	0.95mi
1050 Annunciation St Unit 1272355P New Orleans, LA	2.0–5.0	2.0–4.0	1544	$3,489	$2.26	3d	3	0.97mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	43d	1	0.97mi
431 Gravier St Ste 4 New Orleans, LA	3.0	2.0	2100	$3,700	$1.76	43d	1	1.02mi
535 Decatur St Unit 3 New Orleans, LA	3.0	2.0	1600	$2,800	$1.75	11d	1	1.08mi
515 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1644	$3,600	$2.19	44d	1	1.14mi
527 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1687	$3,500	$2.07	43d	1	1.16mi
1420 Annunciation St New Orleans, LA	1.0–3.0	1.0–2.0	1019	$2,390	$2.35	1d	78	1.17mi
751 Chartres St New Orleans, LA	2.0–3.0	2.0	1461	$3,450	$2.36	43d	1	1.19mi
800 Gravier St Unit 1272312P New Orleans, LA	2.0–4.0	2.0–4.0	1673	$6,169	$3.69	14d	2	1.22mi
1684 Lauradale Dr New Orleans, LA	4.0	2.0	1571	$2,000	$1.27	23d	1	1.27mi
419 Carondelet St Unit PHB New Orleans, LA	3.0	2.5	2546	$5,700	$2.24	3d	1	1.27mi
921 Race St Unit C New Orleans, LA	3.0	2.0	1570	$3,000	$1.91	10d	1	1.29mi
822 Perdido St Unit 1272370P New Orleans, LA	1.0–5.0	1.0–5.0	1447	$5,974	$4.13	3d	4	1.29mi
810 Bienville St New Orleans, LA	1.0–3.0	1.0–2.0	995	$2,688	$2.70	3d	9	1.30mi
2320 Mardi Gras Blvd New Orleans, LA	4.0	2.5	1600	$2,500	$1.56	1d	1	1.31mi
822 Howard Ave Unit 1272354P New Orleans, LA	1.0–5.0	1.0–4.0	1749	$9,250	$5.29	1d	3	1.34mi
803 Baronne St New Orleans, LA	3.0	2.0	1791	$3,525	$1.97	3d	1	1.35mi
939 Iberville St New Orleans, LA	1.0–3.0	1.0	1502	$3,800	$2.53	11d	7	1.36mi
734 Ursulines Ave New Orleans, LA	3.0	2.0	1340	$2,800	$2.09	43d	1	1.38mi
1525 Melpomene St Unit Na New Orleans, LA	3.0	1.5	1700	$4,000	$2.35	43d	1	1.40mi
632 Mandeville St Unit 2B New Orleans, LA	4.0	4.5	1337	$4,500	$3.37	17d	1	1.42mi
1011 Canal St Unit 1513939P New Orleans, LA	4.0	4.0	1765	$11,253	$6.38	23d	1	1.42mi
1011 Canal St Unit 1513926P New Orleans, LA	1.0–4.0	1.0–4.0	1016	$12,077	$11.88	1d	2	1.42mi
1418 Royal St Unit 1418 New Orleans, LA	4.0	2.0	1300	$2,450	$1.88	23d	1	1.43mi
1000 Girod St Ph 2 New Orleans, LA	3.0	3.5	2008	$4,800	$2.39	43d	1	1.43mi
518 S Rampart St New Orleans, LA	3.0	2.0	1853	$3,995	$2.16	3d	1	1.43mi
875 O'Keefe Ave #301 New Orleans, LA	3.0	2.5	2029	$4,500	$2.22	17d	1	1.44mi
811 Burgundy St New Orleans, LA	4.0	2.5	2059	$5,000	$2.43	43d	1	1.46mi
913 Felicity St New Orleans, LA	1.0–3.0	1.0–2.0	999	$1,850	$1.85	23d	1	1.47mi

Listing history 6 events

1. 2026-06-02
   statusdays on market $59,900 Pending 102 DOM
2. 2026-06-01
   days on market $59,900 Active 101 DOM
3. 2026-05-31
   days on market $59,900 Active 100 DOM
4. 2026-02-20
   listed $59,900 Active 409-char remark

   Show marketing remark (409 chars)

   Awesome investment opportunity in Algiers. This property could easily become a single family or multifamily, restaurant/bar, daycare, retail space, neighborhood store, or even a beautiful single family home. This property is surrounded by residential homes as well as several commercial businesses. It is also located a short distance to the Algiers Ferry or the Gretna bus line. Call today for an appointment

5. 2026-02-20
   listed $59,900 Active 409-char remark

   Show marketing remark (409 chars)

   Awesome investment opportunity in Algiers. This property could easily become a single family or multifamily, restaurant/bar, daycare, retail space, neighborhood store, or even a beautiful single family home. This property is surrounded by residential homes as well as several commercial businesses. It is also located a short distance to the Algiers Ferry or the Gretna bus line. Call today for an appointment

6. 2012-09-25
   listed $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: $1,316 · $110/mo
• Projected year-2 tax: $1,316 · $110/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 ≥108°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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,711
• − Mortgage interest: −$3,355
• − Property taxes: −$1,316
• − Insurance: −$1,097
• − Repairs & maintenance: −$2,617
• − Management: −$2,617
• − Depreciation: −$1,743
• Taxable income: $19,967
• Est. tax owed @ 24.0%: −$4,792
• After-tax cash flow: $14,867/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

+33.1% since first listed

3 events — show timeline

• 2026-02-20 Listed $59,900 AcadianaMLS
• 2026-02-20 Listed $59,900 GSREIN
• 2012-09-25 Listed $45,000 AcadianaMLS

Property tax history

-2.6%/yr

Latest (2026): $1,316 · +0.0% YoY. Source: county tax records.