1315 S Salcedo St · New Orleans, LA 70125

$125,000

3 bd · 2.0 ba · 1,024 sqft · SingleFamily public records · 203 Days on market

Built 1950 1,838 sqft lot $122/sqft · 20% below area Est $168k · 26% 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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss out on this cozy little cottage. This home has screened porch for outside sitting and relaxing. Stainless-steel appliances included. It's a must see!!

Key facts

• Screened porch
• 1,838 sq ft lot
• Built 1950

Tags

• SCREENED PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $455 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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.
• Zoned schools: Benjamin Franklin Elem. Math And Science (math 12% / reading 23%, grade F, #479 of 646 statewide, top 75%, 747 students, 98% FRL, charter) — zoned schools average 98% FRL vs 68% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 219 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); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 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.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 203 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 4 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 $30k; list at $125k implies a 324% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 203 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 1950 — 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: 1.44% ✓
• Cap rate: 11.30%
• Cash-on-cash: 17.88%
• DSCR: 1.80
• GRM: 5.8

CMA / ARV

• ARV (median comp): $168,492
• List price: $125,000
• Delta: -25.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1225 S Genois St	0.35mi	2/2.0 (-1)	1,108 (+8%)	5mo	$147,000	$133	61
2604 S Dorgenois St	0.44mi	3/2.0	1,104 (+8%)	7mo	$80,000	$72	60
4802 Dixon St	0.50mi	2/1.0 (-1)	1,034 (+1%)	8mo	$115,000	$111	60
4349 State Street Dr	0.38mi	3/1.0	1,001 (-2%)	24mo	$200,000	$200	54
1101 S Dupre St	0.19mi	2/2.0 (-1)	1,160 (+13%)	12mo	$155,000	$134	54
3039 College Ct	0.44mi	3/2.0	1,175 (+15%)	6mo	$196,500	$167	50
7108 Olive St	0.47mi	3/1.0	1,150 (+12%)	7mo	$63,000	$55	47
3132 College Ct	0.43mi	3/1.0	1,157 (+13%)	9mo	$99,500	$86	47
3515 S Miro St	0.65mi	2/2.0 (-1)	990 (-3%)	15mo	$130,000	$131	47
3413 S Galvez St	0.71mi	2/2.0 (-1)	1,105 (+8%)	10mo	$106,000	$96	41

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.14×
• Total profit: $4,801
• Equity at exit: $18,638

10-year hold

• IRR: 10.8%
• Equity multiple: 1.75×
• Total profit: $26,115
• Equity at exit: $10,808

Cash invested: $35,000 (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 70125

• Home prices YoY: -16.3%
• Rents YoY: 0.7%
• Active inventory: 219
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,799 high
• Mortgage (P&I): −$656
• Tax from tax record: −$192 /mo · $2,305/yr
• Insurance: −$52
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $455

Break-even live

Break-even rent $1,223

Max offer price $125,000

Occupancy floor 70%

Sensitivity live

Price	-10% $526	-5% $490	+0% $455	+5% $420	+10% $384
Rent	-10% $313	-5% $384	+0% $455	+5% $526	+10% $597
Rate	-1.0pp $518	-0.5pp $487	base $455	+0.5pp $423	+1.0pp $390

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1222 S Salcedo St Unit 101 New Orleans, LA	2.0	1.0	900	$1,574	$1.75	25d	1	0.04mi
1318 S Salcedo St Unit 202 New Orleans, LA	4.0	2.0	1152	$1,975	$1.71	25d	1	0.05mi
1318 S Salcedo St Unit 101 New Orleans, LA	4.0	2.0	1152	$1,775	$1.54	18d	1	0.05mi
4114 Thalia St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	25d	1	0.20mi
1603 S Rendon St New Orleans, LA	3.0	2.0	1329	$1,900	$1.43	22d	1	0.22mi
4650 Washington Ave New Orleans, LA	1.0–2.0	1.0–2.0	866	$2,185	$2.52	4d	17	0.25mi
4401 Elba St New Orleans, LA	3.0	2.0	1400	$1,850	$1.32	25d	1	0.28mi
4403 Elba St New Orleans, LA	3.0	2.0	1400	$1,800	$1.29	5d	1	0.28mi
4121 Elba St Unit B New Orleans, LA	2.0	1.0	1100	$1,800	$1.64	25d	1	0.30mi
4430 Elba St New Orleans, LA	2.0	1.0	950	$1,495	$1.57	25d	1	0.31mi
1228 S Genois St New Orleans, LA	3.0	1.0	1000	$1,150	$1.15	25d	1	0.32mi
1210 S Genois St New Orleans, LA	3.0	1.0	1000	$1,595	$1.59	25d	1	0.32mi
4506 Elba St New Orleans, LA	2.0	1.0	1200	$1,800	$1.50	5d	1	0.32mi
4816 Thalia St New Orleans, LA	3.0	2.0	1218	$1,850	$1.52	25d	1	0.32mi
4814 Thalia St Unit B New Orleans, LA	3.0	2.0	1218	$1,850	$1.52	25d	1	0.32mi
4520 Elba St New Orleans, LA	3.0	2.0	1100	$1,700	$1.55	25d	1	0.33mi
4702 Euphrosine St New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	5d	1	0.34mi
4224 Walmsley Ave New Orleans, LA	2.0	1.0	812	$1,150	$1.42	25d	1	0.38mi
4237 General Pershing St New Orleans, LA	2.0	1.0	825	$1,200	$1.45	25d	1	0.41mi
4424 General Pershing St New Orleans, LA	2.0	1.0	858	$1,650	$1.92	5d	1	0.45mi
2016 S Rendon St New Orleans, LA	2.0	1.5	1224	$1,600	$1.31	13d	1	0.46mi
4115 State Street Dr New Orleans, LA	2.0	1.0	1000	$1,900	$1.90	22d	1	0.49mi
3900 Delachaise St New Orleans, LA	2.0	1.0	860	$1,500	$1.74	25d	1	0.50mi
2102 S Lopez St New Orleans, LA	2.0	1.0	900	$1,500	$1.67	16d	1	0.50mi
3909 Panama Ct Unit 1B New Orleans, LA	2.0	1.0	800	$1,200	$1.50	25d	1	0.51mi
3829 General Taylor St New Orleans, LA	3.0	1.0	1000	$1,300	$1.30	25d	1	0.52mi
7110 Colapissa St New Orleans, LA	2.0	1.0	750	$1,375	$1.83	18d	1	0.52mi
7110 Colapissa St New Orleans, LA	2.0	1.0	750	$1,400	$1.87	25d	1	0.52mi
3712 Toledano St New Orleans, LA	2.0	2.0	750	$1,400	$1.87	16d	1	0.52mi
2123 S Lopez St New Orleans, LA	2.0	1.0	950	$1,300	$1.37	5d	1	0.53mi
7021 Pritchard Pl New Orleans, LA	2.0	1.0	1100	$1,950	$1.77	17d	1	0.54mi
2921 Audubon St New Orleans, LA	2.0	1.0	1500	$1,550	$1.03	18d	1	0.55mi
3821 Vincennes Pl New Orleans, LA	2.0	1.0	950	$1,500	$1.58	25d	1	0.57mi
2212 S Salcedo St New Orleans, LA	2.0	1.0	1000	$1,975	$1.98	5d	1	0.58mi
3713 Louisiana Avenue Pkwy New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	5d	1	0.59mi
3632 First St Unit A New Orleans, LA	3.0	2.0	950	$1,850	$1.95	13d	1	0.60mi
3632 First St Unit B New Orleans, LA	3.0	2.0	950	$1,750	$1.84	13d	1	0.60mi
2922 Gravier St New Orleans, LA	2.0	1.0	822	$1,300	$1.58	25d	1	0.60mi
3617 Fourth St Unit A New Orleans, LA	3.0	2.0	1225	$1,995	$1.63	18d	1	0.61mi
2919 Gravier St New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	25d	1	0.61mi

Listing history 12 events

1. 2026-05-18
   status Pending 161-char remark

   Show marketing remark (161 chars)

   Don't miss out on this cozy little cottage. This home has screened porch for outside sitting and relaxing. Stainless-steel appliances included. It's a must see!!

2. 2026-05-18
   status Pending 161-char remark

   Show marketing remark (161 chars)

   Don't miss out on this cozy little cottage. This home has screened porch for outside sitting and relaxing. Stainless-steel appliances included. It's a must see!!

3. 2026-03-09
   price $125,000 161-char remark

   Show marketing remark (161 chars)

   Don't miss out on this cozy little cottage. This home has screened porch for outside sitting and relaxing. Stainless-steel appliances included. It's a must see!!

4. 2026-03-09
   price $125,000 161-char remark

   Show marketing remark (161 chars)

   Don't miss out on this cozy little cottage. This home has screened porch for outside sitting and relaxing. Stainless-steel appliances included. It's a must see!!

5. 2025-10-27
   listed $130,000 Active 161-char remark

   Show marketing remark (161 chars)

   Don't miss out on this cozy little cottage. This home has screened porch for outside sitting and relaxing. Stainless-steel appliances included. It's a must see!!

6. 2025-10-27
   listed $130,000 Active 161-char remark

   Show marketing remark (161 chars)

   Don't miss out on this cozy little cottage. This home has screened porch for outside sitting and relaxing. Stainless-steel appliances included. It's a must see!!

7. 2025-08-13
   price $130,000
8. 2025-08-13
   price $130,000
9. 2025-04-07
   price $158,500
10. 2025-04-07
    listed $158,500 Active
11. 2024-02-15
    listed $165,000 Active
12. 1987-10-01
    soldstatus $29,500

ⓘ 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: $2,305 · $192/mo
• Projected year-2 tax: $2,305 · $192/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 · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,588
• − Mortgage interest: −$7,002
• − Property taxes: −$2,305
• − Insurance: −$1,422
• − Repairs & maintenance: −$1,727
• − Management: −$1,727
• − Depreciation: −$3,636
• Taxable income: $3,768
• Est. tax owed @ 24.0%: −$904
• After-tax cash flow: $4,557/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): 17,821
• Household income: $61,174
• Rent vs Own: 53.3% rent · 46.7% own
• Severe rent burden: 1270.0

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 0.63)
• Race & ethnicity: Black 51% White 32% Hispanic / Latino 9% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Romanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 1% Chinese 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: ▼ -49.68%
• Current HPI: 255.5998
• Rent YoY: ▲ 0.73%
• 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

+323.7% since first listed

12 events — show timeline

• 2026-05-18 Pending — AcadianaMLS
• 2026-05-18 Pending — GSREIN
• 2026-03-09 Price Changed $125,000 AcadianaMLS
• 2026-03-09 Price Changed $125,000 GSREIN
• 2025-10-27 Listed $130,000 GSREIN
• 2025-10-27 Listed $130,000 AcadianaMLS
• 2025-08-13 Price Changed $130,000 AcadianaMLS
• 2025-08-13 Price Changed $130,000 GSREIN
• 2025-04-07 Price Changed $158,500 GSREIN
• 2025-04-07 Listed $158,500 AcadianaMLS
• 2024-02-15 Listed $165,000 AcadianaMLS
• 1987-10-01 Sold (Public Records) $29,500 Public Records

Property tax history

+41.8%/yr

Latest (2026): $2,305 · +1.1% YoY. Source: county tax records.