9009 Belfast St · New Orleans, LA 70118

$115,000

2 bd · 2.0 ba · 1,100 sqft · SingleFamily public records · 197 Days on market

Built 2005 3,449 sqft lot $105/sqft · 33% below area Est $166k · 31% under ↓ 26% since listing

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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 +8.7/10.0
• 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

Investors this one is for you. Single family residence in average condition. The property is being sold as is. Seller is motivated and ready to sell. There is termite contract on property.

Key facts

• 3,449 sq ft lot
• Built 2005
• Listed 197 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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 flat; 279 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 $795 of loan paydown is wiped out by about $3k 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 + 1.0% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 197 days — a 12% lower offer ($101k) 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.

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 $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 197 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.37% ✓
• Cap rate: 11.36%
• Cash-on-cash: 18.10%
• DSCR: 1.81
• GRM: 6.1

CMA / ARV

• ARV (median comp): $166,137
• List price: $115,000
• Delta: -30.78%
• 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
2529 Eagle St	0.19mi	2/2.0	1,140 (+4%)	10mo	$143,000	$125	76
9308 Colapissa St	0.31mi	2/1.0	1,120 (+2%)	9mo	$115,000	$103	71
3619 Cherry St	0.64mi	2/2.0	1,104 (+0%)	6mo	$180,500	$163	64
8608 Spruce St	0.58mi	2/2.0	1,103 (+0%)	12mo	$250,000	$227	63
2419 Short St	0.75mi	2/2.0	1,077 (-2%)	2mo	$350,000	$325	60
1000 Monticello St	0.46mi	3/1.0 (+1)	1,072 (-2%)	12mo	$190,000	$177	55
8911 Edinburgh Dr	0.53mi	2/1.0	1,151 (+5%)	10mo	$160,000	$139	55
8711 Olive St	0.50mi	3/2.0 (+1)	1,022 (-7%)	11mo	$137,000	$134	51
8320 S Claiborne Ave	0.51mi	3/2.0 (+1)	1,217 (+11%)	8mo	$183,000	$150	47
9301 Forshey St	0.44mi	3/2.0 (+1)	1,214 (+10%)	14mo	$178,000	$147	46
8715 Stroelitz St	0.69mi	3/1.0 (+1)	1,049 (-5%)	9mo	$62,000	$59	44
8830 Stroelitz St	0.65mi	3/1.5 (+1)	1,260 (+14%)	11mo	$71,000	$56	30

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 · 0.97% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.15×
• Total profit: $4,967
• Equity at exit: $17,147

10-year hold

• IRR: 11.6%
• Equity multiple: 1.82×
• Total profit: $26,483
• Equity at exit: $9,943

Cash invested: $32,200 (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 70118

• Rents YoY: 1.0%
• Active inventory: 279
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,572 high
• Mortgage (P&I): −$603
• Tax from tax record: −$105 /mo · $1,259/yr
• Insurance: −$48
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $419

Break-even live

Break-even rent $1,041

Max offer price $115,000

Occupancy floor 68%

Sensitivity live

Price	-10% $484	-5% $452	+0% $419	+5% $387	+10% $354
Rent	-10% $295	-5% $357	+0% $419	+5% $481	+10% $544
Rate	-1.0pp $477	-0.5pp $449	base $419	+0.5pp $390	+1.0pp $359

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2909 Hollygrove St New Orleans, LA	2.0	1.0	725	$995	$1.37	24d	1	0.15mi
2915 Hollygrove St New Orleans, LA	1.0	1.0	725	$995	$1.37	22d	1	0.15mi
2817 General Ogden St Unit 2819 New Orleans, LA	2.0	1.0	870	$1,200	$1.38	24d	1	0.16mi
9129 Nelson St New Orleans, LA	2.0	1.5	1434	$1,900	$1.32	24d	1	0.16mi
9309 Belfast St Rm A New Orleans, LA	1.0	1.0	1220	$1,200	$0.98	24d	1	0.17mi
9122 Nelson St New Orleans, LA	2.0	2.0	1100	$1,550	$1.41	24d	1	0.17mi
8812 Apple St New Orleans, LA	3.0	2.0	1085	$1,650	$1.52	16d	1	0.19mi
9107 Fig St New Orleans, LA	3.0	3.0	1230	$2,000	$1.63	4d	1	0.19mi
9215 S Claiborne Ave New Orleans, LA	2.0	2.0	1100	$2,000	$1.82	12d	1	0.24mi
2428 Eagle St New Orleans, LA	2.0	1.0	840	$1,425	$1.70	24d	1	0.24mi
8637 Belfast St New Orleans, LA	2.0	1.0	800	$1,195	$1.49	24d	1	0.26mi
8709 Pritchard Pl New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	22d	1	0.26mi
8925 Colapissa St New Orleans, LA	2.0	1.0	700	$1,500	$2.14	22d	1	0.27mi
8929 Colapissa St New Orleans, LA	3.0	1.0	1300	$1,400	$1.08	24d	1	0.27mi
8610 Apricot St New Orleans, LA	3.0	2.0	1000	$2,200	$2.20	11d	1	0.30mi
2730 Leonidas St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	24d	1	0.30mi
8633 Nelson St New Orleans, LA	2.0	1.0	800	$1,100	$1.38	2d	1	0.30mi
9015 Forshey St Unit 9017 New Orleans, LA	2.0	1.0	804	$1,200	$1.49	17d	1	0.39mi
8537 S Claiborne Ave New Orleans, LA	2.0	1.0	1450	$1,400	$0.97	4d	1	0.39mi
8429 Apple St Unit 1B New Orleans, LA	2.0	1.0	803	$1,400	$1.74	24d	1	0.41mi
8417 Apple St New Orleans, LA	2.0	1.0	828	$1,200	$1.45	17d	1	0.43mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	4d	1	0.44mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.44mi
2616 Cambronne St Unit 2618 New Orleans, LA	3.0	1.0	1200	$1,475	$1.23	24d	1	0.44mi
9438 Forshey St New Orleans, LA	3.0	2.0	1274	$2,000	$1.57	24d	1	0.45mi
8816 Olive St New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	24d	1	0.45mi
8816 Olive St Unit A-B New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	16d	1	0.45mi
8327 Belfast St heuristic New Orleans, LA	2.0	1.0	800	$1,150	$1.44	25d	1	0.48mi
8327 Belfast St New Orleans, LA	2.0	1.0	800	$1,150	$1.44	15d	1	0.48mi
8329 Pritchard Pl Unit B New Orleans, LA	1.0	1.5	1500	$1,600	$1.07	12d	1	0.49mi
2311 Joliet St New Orleans, LA	2.0	2.0	950	$1,900	$2.00	24d	1	0.49mi
2305 Joliet St New Orleans, LA	3.0	2.0	1451	$2,500	$1.72	44d	1	0.50mi
8514 Forshey St New Orleans, LA	3.0	1.0	1030	$1,600	$1.55	24d	1	0.50mi
3316 Joliet St #18 New Orleans, LA	2.0	1.0	800	$1,400	$1.75	24d	1	0.55mi
1916 Eagle St New Orleans, LA	3.0	2.0	1000	$1,250	$1.25	3d	1	0.58mi
1916 Eagle St New Orleans, LA	3.0	2.0	1000	$1,250	$1.25	24d	1	0.58mi
8328 Forshey St New Orleans, LA	2.0	1.0	838	$1,200	$1.43	4d	1	0.59mi
1836 General Ogden St New Orleans, LA	3.0	2.0	1368	$1,675	$1.22	24d	1	0.59mi
3620 Hollygrove St Unit B New Orleans, LA	2.0	1.0	872	$1,000	$1.15	15d	1	0.61mi
8815 Palm St New Orleans, LA	3.0	2.0	1195	$2,100	$1.76	24d	1	0.62mi

Listing history 21 events

1. 2026-06-18
   days on market $115,000 Active 197 DOM
2. 2026-06-17
   days on market $115,000 Active 196 DOM
3. 2026-06-16
   days on market $115,000 Active 195 DOM
4. 2026-06-15
   days on market $115,000 Active 194 DOM
5. 2026-06-13
   days on market $115,000 Active 192 DOM
6. 2026-06-10
   days on market $115,000 Active 189 DOM
7. 2026-06-09
   days on market $115,000 Active 188 DOM
8. 2026-06-08
   days on market $115,000 Active 187 DOM
9. 2026-06-07
   days on market $115,000 Active 186 DOM
10. 2026-06-05
    days on market $115,000 Active 183 DOM
11. 2026-06-03
    days on market $115,000 Active 182 DOM
12. 2026-06-02
    days on market $115,000 Active 181 DOM
13. 2026-06-01
    days on market $115,000 Active 180 DOM
14. 2026-05-31
    days on market $115,000 Active 179 DOM
15. 2025-12-03
    listed $115,000 Active 188-char remark

    Show marketing remark (188 chars)

    Investors this one is for you. Single family residence in average condition. The property is being sold as is. Seller is motivated and ready to sell. There is termite contract on property.

16. 2025-12-03
    listed $115,000 Active 188-char remark

    Show marketing remark (188 chars)

    Investors this one is for you. Single family residence in average condition. The property is being sold as is. Seller is motivated and ready to sell. There is termite contract on property.

17. 2025-10-21
    price $125,000
18. 2025-10-21
    price $125,000
19. 2025-05-01
    price $139,000
20. 2025-05-01
    price $139,000
21. 2024-11-22
    listed $156,000 Active

ⓘ 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: $1,259 · $105/mo
• Projected year-2 tax: $1,259 · $105/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 · 21 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: $18,861
• − Mortgage interest: −$6,442
• − Property taxes: −$1,259
• − Insurance: −$1,372
• − Repairs & maintenance: −$1,509
• − Management: −$1,509
• − Depreciation: −$3,345
• Taxable income: $3,425
• Est. tax owed @ 24.0%: −$822
• After-tax cash flow: $4,210/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): 36,072
• Household income: $63,750
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 2237.0

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: White 47% Black 34% Hispanic / Latino 11% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Italian 2% Romanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 86% English-only · Spanish 7% French/Haitian/Cajun 2% Other Indo-European 2%

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: ▼ -210.46%
• Current HPI: 282.9629
• Rent YoY: ▲ 0.97%
• 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

-26.3% since first listed

7 events — show timeline

• 2025-12-03 Listed $115,000 GSREIN
• 2025-12-03 Listed $115,000 AcadianaMLS
• 2025-10-21 Price Changed $125,000 AcadianaMLS
• 2025-10-21 Price Changed $125,000 GSREIN
• 2025-05-01 Price Changed $139,000 AcadianaMLS
• 2025-05-01 Price Changed $139,000 GSREIN
• 2024-11-22 Listed $156,000 AcadianaMLS

Property tax history

+1.4%/yr

Latest (2026): $1,259 · -0.4% YoY. Source: county tax records.