8825 Apple St · New Orleans, LA 70118

$70,000

3 bd · 1.0 ba · 1,352 sqft · SingleFamily public records · 2 Days on market

Built 1965

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Rare opportunity to own a fully gutted single-family home in the heart of Hollygrove! This 3 bed/1 bath sits on 30x120 lot and is ready for your complete vision. With the hard demo work already done, bring your contractor and your creativity -- the canvas is clean. Conveniently located minutes from Downtown New Orleans and Metairie with easy access to major corridors. The location checks every box- commute and convenience. Whether you're an investor looking for your next flip or a buyer ready to build equity from the ground up, this is the one. Don't miss this priced-to-sell gem.

Key facts

• 30x120 lot
• 2 parking spots
• Built 1965

Tags

• 30X120 LOT
• EASY ACCESS TO MAJOR CORRIDORS

Property features AI

Exterior

• Parking: Driveway with two off-street spaces
• Utilities: Public water; Public sewer
• Home design: 2-story property; Raised foundation; Shingle roof
• Construction: Raised foundation; Shingle roof
• Exterior features: Front porch; 30 x 120 rectangular city lot

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: Total of 4 rooms; Poor condition

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $952 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Cap rate 23.7% 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).
• This rent runs 36% of the median local income ($64k/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 $484 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 + 1.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 26y 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 $57k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $70,000

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.73% ✓
• Cap rate: 23.75%
• Cash-on-cash: 62.34%
• DSCR: 3.77
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $173,056
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2510 General Ogden St	0.07mi	3/1.0	1,500 (+11%)	2mo	$55,000	$37	77
9119 Edinburgh St	0.63mi	3/2.0	1,349 (-0%)	1mo	$125,000	$93	66
9102 Oleander St	0.41mi	3/2.0	1,274 (-6%)	3mo	$58,066	$46	65
2939 Leonidas St	0.31mi	3/2.0	1,516 (+12%)	0mo	$155,500	$103	61
8719 Fig St	0.28mi	3/2.0	1,540 (+14%)	1mo	$70,000	$45	59
8324 Apple St	0.33mi	3/1.0	1,538 (+14%)	6mo	$70,000	$46	56
3024 Hollygrove St	0.31mi	3/2.0	1,533 (+13%)	5mo	$299,000	$195	55
913 Odwyer Pl	0.49mi	2/3.0 (-1)	1,400 (+4%)	5mo	$250,000	$179	54
1522 Monroe St	0.74mi	3/3.0	1,385 (+2%)	3mo	$325,000	$235	51
7822 Colapissa St	0.75mi	3/2.0	1,452 (+7%)	1mo	$245,000	$169	48
8620 Green St	0.66mi	3/2.5	1,457 (+8%)	5mo	$335,000	$230	46
8810 Palmetto St	0.75mi	4/2.0 (+1)	1,484 (+10%)	6mo	$190,000	$128	35

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: 54.4%
• Equity multiple: 3.32×
• Total profit: $45,519
• Equity at exit: $10,437

10-year hold

• IRR: 58.7%
• Equity multiple: 6.25×
• Total profit: $102,916
• Equity at exit: $6,052

Cash invested: $19,600 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,911 high
• Mortgage (P&I): −$367
• Tax from tax record: −$95 /mo · $1,143/yr
• Insurance: −$29
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $952

Break-even live

Break-even rent $706

Max offer price $70,000

Occupancy floor 45%

Sensitivity live

Price	-10% $991	-5% $971	+0% $952	+5% $932	+10% $912
Rent	-10% $801	-5% $876	+0% $952	+5% $1,027	+10% $1,103
Rate	-1.0pp $987	-0.5pp $969	base $952	+0.5pp $934	+1.0pp $915

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8812 Apple St New Orleans, LA	3.0	2.0	1085	$1,650	$1.52	16d	1	0.05mi
2527 Eagle St New Orleans, LA	3.0	2.0	1571	$2,200	$1.40	24d	1	0.09mi
2730 Leonidas St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	24d	1	0.18mi
8610 Apricot St New Orleans, LA	3.0	2.0	1000	$2,200	$2.20	11d	1	0.18mi
8709 Pritchard Pl New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	22d	1	0.21mi
9122 Nelson St New Orleans, LA	2.0	2.0	1100	$1,550	$1.41	24d	1	0.21mi
9129 Nelson St New Orleans, LA	2.0	1.5	1434	$1,900	$1.32	24d	1	0.23mi
8537 S Claiborne Ave New Orleans, LA	2.0	1.0	1450	$1,400	$0.97	4d	1	0.24mi
9215 S Claiborne Ave New Orleans, LA	2.0	2.0	1100	$2,000	$1.82	12d	1	0.30mi
2616 Cambronne St Unit 2618 New Orleans, LA	3.0	1.0	1200	$1,475	$1.23	24d	1	0.30mi
2616 Cambronne St New Orleans, LA	4.0	1.0	996	$1,350	$1.36	24d	1	0.30mi
9107 Fig St New Orleans, LA	3.0	3.0	1230	$2,000	$1.63	4d	1	0.31mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.32mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	4d	1	0.32mi
8929 Colapissa St New Orleans, LA	3.0	1.0	1300	$1,400	$1.08	24d	1	0.33mi
2311 Joliet St New Orleans, LA	2.0	2.0	950	$1,900	$2.00	24d	1	0.35mi
2305 Joliet St New Orleans, LA	3.0	2.0	1451	$2,500	$1.72	44d	1	0.36mi
8514 Forshey St New Orleans, LA	3.0	1.0	1030	$1,600	$1.55	24d	1	0.47mi
912 Monticello Ave New Orleans, LA	3.0	2.0	1750	$2,500	$1.43	44d	1	0.49mi
8816 Olive St Unit A-B New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	16d	1	0.49mi
8816 Olive St New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	24d	1	0.49mi
1916 Eagle St New Orleans, LA	3.0	2.0	1000	$1,250	$1.25	24d	1	0.49mi
1916 Eagle St New Orleans, LA	3.0	2.0	1000	$1,250	$1.25	3d	1	0.49mi
1836 General Ogden St New Orleans, LA	3.0	2.0	1368	$1,675	$1.22	24d	1	0.53mi
8426 Spruce St New Orleans, LA	3.0	2.0	1700	$3,000	$1.76	44d	1	0.54mi
2022 Dante St New Orleans, LA	2.0	1.0	989	$1,300	$1.31	4d	1	0.55mi
8927 Hickory St New Orleans, LA	2.0	1.0	1440	$1,500	$1.04	24d	1	0.57mi
8423 Cohn St New Orleans, LA	2.0	2.0	887	$1,700	$1.92	24d	1	0.58mi
8421 Cohn St New Orleans, LA	2.0	2.0	887	$1,750	$1.97	24d	1	0.58mi
9438 Forshey St New Orleans, LA	3.0	2.0	1274	$2,000	$1.57	24d	1	0.59mi
8502 Edinburgh St New Orleans, LA	3.0	2.0	1456	$1,800	$1.24	4d	1	0.60mi
7933 Belfast St Unit Upper New Orleans, LA	3.0	2.0	1500	$2,400	$1.60	24d	1	0.62mi
2231 S Carrollton Ave Unit D New Orleans, LA	3.0	2.0	1600	$2,495	$1.56	24d	1	0.62mi
1822 Cambronne St New Orleans, LA	2.0	1.5	900	$1,600	$1.78	15d	1	0.63mi
1820 Cambronne St New Orleans, LA	2.0	1.5	900	$1,600	$1.78	15d	1	0.63mi
2102 S Carrollton Ave New Orleans, LA	3.0	2.0	1800	$2,250	$1.25	12d	1	0.63mi
2102 S Carrollton Ave Unit NA New Orleans, LA	3.0	2.0	1800	$2,250	$1.25	11d	1	0.63mi
2308 Short St New Orleans, LA	3.0	2.0	1600	$2,800	$1.75	4d	1	0.64mi
8815 Palm St New Orleans, LA	3.0	2.0	1195	$2,100	$1.76	24d	1	0.65mi
8635 Green St New Orleans, LA	3.0	1.0	950	$950	$1.00	15d	1	0.65mi

Listing history 3 events

1. 2026-06-18
   days on market $70,000 Active 2 DOM
2. 2026-06-17
   remarks 585-char remark
3. 2026-06-17
   listed $70,000 Active 1 DOM

ⓘ 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: $1,143 · $95/mo
• Projected year-2 tax: $1,143 · $95/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) · 76% 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: $22,931
• − Mortgage interest: −$3,921
• − Property taxes: −$1,143
• − Insurance: −$1,148
• − Repairs & maintenance: −$1,834
• − Management: −$1,834
• − Depreciation: −$2,036
• Taxable income: $11,014
• Est. tax owed @ 24.0%: −$2,643
• After-tax cash flow: $8,777/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

+268.4% since first listed

7 events — show timeline

• 2026-06-16 Listed $70,000 AcadianaMLS
• 2026-06-16 Listed $70,000 GSREIN
• 2001-06-28 Sold (Public Records) $57,000 Public Records
• 2001-06-25 Sold (MLS) $57,000 GSREIN
• 2000-10-03 Listed $59,000 AcadianaMLS
• 2000-10-03 Listed $59,000 GSREIN
• 1984-01-13 Sold (Public Records) $19,000 Public Records

Property tax history

+6.8%/yr

Latest (2026): $1,143 · +1.1% YoY. Source: county tax records.