5350 Tullis Dr · New Orleans, LA 70131

$105,000

3 bd · 2.5 ba · 1,698 sqft · Townhouse public records · 15 Days on market

Built 1972 2,522 sqft lot $62/sqft · 6% below area Est $98k · 7% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +4.2/15.0
• 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

STOP RENTING, START INVESTING. This massive 1,485 square foot Algiers townhouse is priced for an immediate sale and represents the best value-add opportunity in the 70131 area. The floor plan features exceptionally large bedrooms that offer a unique equity play; the rooms are spacious enough to easily be converted, turning this into a high-demand three or four-bedroom property. Whether you are looking for a primary residence or a high-yield rental, this home delivers with three bathrooms, a rare private backyard, and ample covered parking. This property is priced to move quickly and will not last at this price per square foot. Submit all offers now to capitalize on this high-potential investment before it is gone.

Key facts

• Private backyard
• Double carport
• Storage shed

Tags

• DOUBLE CARPORT
• PRIVATE BACKYARD
• DEDICATED DINING ROOM
• STORAGE SHED

Property features AI

Finance

• Other: Pets allowed (dogs OK, no pet restrictions listed)

Exterior

• Parking: Two parking spaces
• Utilities: Public water; Public sewer
• Home design: 2-story home
• Construction: Brick construction; Shingle roof; Slab foundation; Built in multiple stories
• Exterior features: Fenced yard; City lot; Lot dimensions approximately 18 x 140

Interior

• Kitchen: Microwave; Oven; Refrigerator
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Very good condition
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $105k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.6% 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; 33 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 35% 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 $726 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.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 34y 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 $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $103,425 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — 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: 1.72% ✓
• Cap rate: 14.64%
• Cash-on-cash: 29.82%
• DSCR: 2.33
• GRM: 4.9

CMA / ARV

• ARV (median comp): $97,926
• List price: $105,000
• Delta: 7.22%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5350 Tullis Dr	0.00mi	2/2.5 (-1)	1,485 (-12%)	0mo	$107,000	$72	74

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: -2.5%
• Equity multiple: 0.91×
• Total profit: $-2,658
• Equity at exit: $15,656

10-year hold

• IRR: 1.9%
• Equity multiple: 1.11×
• Total profit: $3,316
• Equity at exit: $9,078

Cash invested: $29,400 (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: 4.9×

Monthly cashflow live

• Estimated rent: $1,801 high
• Mortgage (P&I): −$551
• Tax from tax record: −$98 /mo · $1,175/yr
• Insurance: −$44
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $304

Break-even live

Break-even rent $1,416

Max offer price $105,000

Occupancy floor 78%

Sensitivity live

Price	-10% $364	-5% $334	+0% $304	+5% $274	+10% $245
Rent	-10% $162	-5% $233	+0% $304	+5% $375	+10% $446
Rate	-1.0pp $357	-0.5pp $331	base $304	+0.5pp $277	+1.0pp $249

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5200 Timber Crest Dr New Orleans, LA	4.0	2.0	1530	$1,800	$1.18	24d	1	0.14mi
3653 Timber Bluff Ln New Orleans, LA	4.0	2.0	1800	$2,500	$1.39	44d	1	0.21mi
130 Cypress Grove Ct #92 New Orleans, LA	2.0	1.5	1381	$1,550	$1.12	17d	1	0.28mi
5797 Tullis Dr New Orleans, LA	3.0	1.5	1240	$1,600	$1.29	24d	1	0.41mi
5823 Tullis Dr New Orleans, LA	3.0	1.5	1637	$1,600	$0.98	24d	1	0.43mi
5000 Woodland Dr New Orleans, LA	2.0	1.0–2.5	943	$1,457	$1.55	24d	1	0.43mi
4479 Woodland Dr Unit A New Orleans, LA	2.0	2.5	1300	$1,500	$1.15	24d	1	0.47mi
5987 Tullis Dr New Orleans, LA	2.0	1.5	1179	$1,150	$0.98	18d	1	0.64mi
5987 Tullis Dr New Orleans, LA	2.0	1.5	1179	$1,100	$0.93	3d	1	0.64mi
2448 Oxford Pl Gretna, LA	3.0	2.5	1514	$1,600	$1.06	24d	1	0.84mi
4254 Maple Leaf Dr New Orleans, LA	1.0–3.0	1.0–2.5	1354	$1,687	$1.25	2d	8	0.86mi
701 Fairfax Dr #199 Gretna, LA	2.0	2.0	1060	$1,500	$1.42	44d	1	0.88mi
2424 Park Place Dr Gretna, LA	3.0	2.0	1550	$2,200	$1.42	22d	1	0.91mi
3738 Somerset Dr New Orleans, LA	4.0	2.0	2247	$3,000	$1.34	15d	1	0.93mi
2337 Park Place Dr Gretna, LA	3.0	2.5	1800	$1,650	$0.92	44d	1	0.96mi
6121 Stratford Pl New Orleans, LA	3.0	2.0	1225	$1,800	$1.47	17d	1	0.96mi
2425 Oxford Pl #113 Gretna, LA	2.0	2.0	1081	$2,300	$2.13	44d	1	0.98mi
3751 Herald St New Orleans, LA	4.0	2.0	1624	$2,150	$1.32	24d	1	1.02mi
4020 Sullen Pl New Orleans, LA	4.0	2.5	1280	$1,400	$1.09	4d	1	1.08mi
2350 Park Place Dr Gretna, LA	1.0–3.0	1.0–2.0	1000	$1,525	$1.52	44d	5	1.16mi
500 Behrman Hwy Gretna, LA	3.0	1.5	1600	$1,750	$1.09	5d	1	1.21mi
916 E Monterey Ct Unit A Terrytown, LA	3.0	2.0	1400	$1,600	$1.14	44d	1	1.21mi
937 E Monterey Ct Apt B Terrytown, LA	3.0	2.0	1500	$1,300	$0.87	24d	1	1.22mi
937 E Monterey Ct Apt D Terrytown, LA	4.0	2.0	1500	$1,500	$1.00	24d	1	1.22mi
502 Behrman Hwy Gretna, LA	4.0	2.0	1600	$1,750	$1.09	5d	1	1.23mi
917 Monterey Ct S Unit b Gretna, LA	3.0	2.0	1500	$1,500	$1.00	44d	1	1.25mi
3511 Hyman Pl New Orleans, LA	3.0	2.0	1975	$2,700	$1.37	2d	1	1.28mi
1028 Kingsway Dr W Gretna, LA	4.0	2.0	1900	$2,400	$1.26	24d	1	1.29mi
725 Oakwood Dr Gretna, LA	3.0	2.0	2079	$1,850	$0.89	24d	1	1.42mi
3151 Plymouth Pl New Orleans, LA	3.0	1.0	1470	$1,700	$1.16	24d	1	1.44mi
532 Oakwood Dr Gretna, LA	3.0	2.5	2100	$2,000	$0.95	5d	1	1.46mi
740 Oakwood Dr Gretna, LA	4.0	2.0	1290	$2,200	$1.71	44d	1	1.47mi
3252 Kabel Dr New Orleans, LA	2.0	1.5	1080	$1,300	$1.20	21d	1	1.47mi

Listing history 33 events

1. 2026-05-04
   listed $105,000 Active 723-char remark

   Show marketing remark (723 chars)

   STOP RENTING, START INVESTING. This massive 1,485 square foot Algiers townhouse is priced for an immediate sale and represents the best value-add opportunity in the 70131 area. The floor plan features exceptionally large bedrooms that offer a unique equity play; the rooms are spacious enough to easily be converted, turning this into a high-demand three or four-bedroom property. Whether you are looking for a primary residence or a high-yield rental, this home delivers with three bathrooms, a rare private backyard, and ample covered parking. This property is priced to move quickly and will not last at this price per square foot. Submit all offers now to capitalize on this high-potential investment before it is gone.

2. 2026-05-04
   listed $105,000 Active 723-char remark

   Show marketing remark (723 chars)

   STOP RENTING, START INVESTING. This massive 1,485 square foot Algiers townhouse is priced for an immediate sale and represents the best value-add opportunity in the 70131 area. The floor plan features exceptionally large bedrooms that offer a unique equity play; the rooms are spacious enough to easily be converted, turning this into a high-demand three or four-bedroom property. Whether you are looking for a primary residence or a high-yield rental, this home delivers with three bathrooms, a rare private backyard, and ample covered parking. This property is priced to move quickly and will not last at this price per square foot. Submit all offers now to capitalize on this high-potential investment before it is gone.

3. 2026-03-18
   historical $1,100
4. 2026-03-13
   listed $1,100
5. 2026-03-13
   historical $1,100
6. 2026-03-06
   listed $1,100
7. 2025-11-11
   historical $1,100
8. 2025-11-01
   listed $1,100
9. 2024-05-17
   soldstatus $93,000
10. 2024-05-16
    soldstatus $93,000 Closed

    Show marketing remark (249 chars)

    SELLER TO PAY $5000 towards purchasers closing cost! Affordable living minutes from the CDB. Both large bedrooms have thier own full bath. Large double car carport. Private back yard, Dining room, storage shed, fireplace. Stainless steel appliances.

11. 2024-04-24
    historical Active Under Contract

    Show marketing remark (249 chars)

    SELLER TO PAY $5000 towards purchasers closing cost! Affordable living minutes from the CDB. Both large bedrooms have thier own full bath. Large double car carport. Private back yard, Dining room, storage shed, fireplace. Stainless steel appliances.

12. 2024-03-03
    listed $139,900

    Show marketing remark (249 chars)

    SELLER TO PAY $5000 towards purchasers closing cost! Affordable living minutes from the CDB. Both large bedrooms have thier own full bath. Large double car carport. Private back yard, Dining room, storage shed, fireplace. Stainless steel appliances.

13. 2024-03-03
    listed $139,900 Active

    Show marketing remark (249 chars)

    SELLER TO PAY $5000 towards purchasers closing cost! Affordable living minutes from the CDB. Both large bedrooms have thier own full bath. Large double car carport. Private back yard, Dining room, storage shed, fireplace. Stainless steel appliances.

14. 2022-10-17
    soldstatus $134,900 Closed
15. 2022-09-20
    status Pending
16. 2022-08-12
    listed $134,900
17. 2022-08-12
    listed $134,900 Active
18. 2022-06-09
    price $139,500
19. 2022-04-26
    listed $139,500
20. 2015-06-10
    soldstatus $46,000
21. 2015-06-05
    soldstatus $53,500 Sold
22. 2015-05-13
    listed Pending Continue to Show
23. 2015-04-15
    listed $45,000
24. 2014-10-03
    listed $45,000
25. 2014-10-03
    listed $45,000
26. 1997-08-06
    soldstatus $52,908
27. 1997-07-31
    soldstatus $53,000
28. 1997-02-28
    listed $54,900
29. 1997-02-28
    listed $54,900
30. 1993-07-06
    soldstatus $47,000
31. 1993-06-25
    soldstatus $47,000
32. 1992-07-31
    listed $49,000
33. 1992-07-31
    listed $49,000

ⓘ 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: $1,175 · $98/mo
• Projected year-2 tax: $1,175 · $98/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 9/10 Extreme FEMA zone AE · 75% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $21,614
• − Mortgage interest: −$5,882
• − Property taxes: −$1,175
• − Insurance: −$5,644
• − Repairs & maintenance: −$1,729
• − Management: −$1,729
• − Depreciation: −$3,055
• Taxable income: $2,401
• Est. tax owed @ 24.0%: −$576
• After-tax cash flow: $3,073/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

+118.4% since first listed

37 events — show timeline

• 2026-06-10 Sold (MLS) $107,000 GSREIN
• 2026-06-10 Sold (MLS) $107,000 AcadianaMLS
• 2026-05-19 Pending — AcadianaMLS
• 2026-05-19 Pending — GSREIN
• 2026-05-04 Listed $105,000 GSREIN
• 2026-05-04 Listed $105,000 AcadianaMLS
• 2026-03-18 Rental Removed $1,100 RAAMLS
• 2026-03-13 Listed for Rent $1,100 RAAMLS
• 2026-03-13 Rental Removed $1,100 GSREIN
• 2026-03-06 Listed for Rent $1,100 GSREIN
• 2025-11-11 Rental Removed $1,100 GSREIN
• 2025-11-01 Listed for Rent $1,100 GSREIN
• 2024-05-17 Sold (Public Records) $93,000 Public Records
• 2024-05-16 Sold (MLS) $93,000 GSREIN
• 2024-04-24 Contingent — GSREIN
• 2024-03-03 Listed $139,900 AcadianaMLS
• 2024-03-03 Listed $139,900 GSREIN
• 2022-10-17 Sold (MLS) $134,900 GSREIN
• 2022-09-20 Pending — GSREIN
• 2022-08-12 Listed $134,900 AcadianaMLS
• 2022-08-12 Listed $134,900 GSREIN
• 2022-06-09 Price Changed $139,500 GSREIN
• 2022-04-26 Listed $139,500 AcadianaMLS
• 2015-06-10 Sold (Public Records) $46,000 Public Records
• 2015-06-05 Sold (MLS) $53,500 GSREIN
• 2015-05-13 Listed — GSREIN
• 2015-04-15 Listed $45,000 AcadianaMLS
• 2014-10-03 Listed $45,000 GSREIN
• 2014-10-03 Listed $45,000 AcadianaMLS
• 1997-08-06 Sold (Public Records) $52,908 Public Records
• 1997-07-31 Sold (MLS) $53,000 GSREIN
• 1997-02-28 Listed $54,900 GSREIN
• 1997-02-28 Listed $54,900 AcadianaMLS
• 1993-07-06 Sold (Public Records) $47,000 Public Records
• 1993-06-25 Sold (MLS) $47,000 GSREIN
• 1992-07-31 Listed $49,000 AcadianaMLS
• 1992-07-31 Listed $49,000 GSREIN

Property tax history

+1.6%/yr

Latest (2026): $1,175 · -27.8% YoY. Source: county tax records.