2020 Pleasure St · New Orleans, LA 70122

$104,500

3 bd · 1.0 ba · 1,507 sqft · SingleFamily public records · 306 Days on market

Built 1950 1.00 ac lot

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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
• 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

Subject property is in fair condition and in need of renovation. Property is being sold in as is where is condition. Inspections made by purchaser is for informational purposes only. Seller will make no repairs, utilities are off and will not be turned on by seller. This is an estate sale, offers must be present and approved by the acting judge over the estate sale. Please give 72 hours response time for all offers.

Key facts

• Renovation needed
• As is condition
• 1 acre lot

Tags

• RENOVATION NEEDED
• AS IS CONDITION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $104k.

Deal economics

• At list price, monthly cash flow is $623 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $104k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.2% 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 (-0.6%/yr); 332 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 44% of the median local income ($49k/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 $722 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 + 0.0% rent growth), your $29k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 306 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask is 31% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $91,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 306 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: 1.72% ✓
• Cap rate: 14.21%
• Cash-on-cash: 28.29%
• DSCR: 2.26
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $253,176
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2714 Republic St	0.48mi	3/2.0	1,525 (+1%)	2mo	$250,000	$164	70
2057 Pleasure St	0.06mi	3/2.0	1,697 (+13%)	4mo	$289,000	$170	69
2720 New Orleans St	0.52mi	3/2.0	1,490 (-1%)	6mo	$250,000	$168	65
4131 Clermont St	0.63mi	3/1.5	1,599 (+6%)	1mo	$175,000	$109	58
1716 Agriculture St	0.57mi	3/2.0	1,619 (+7%)	1mo	$265,000	$164	56
4411 Saint Anthony Ave	0.73mi	3/2.0	1,500 (-0%)	9mo	$248,000	$165	54
4005 Clematis St	0.69mi	3/2.0	1,575 (+4%)	8mo	$300,000	$190	50
3016 Saint Roch Ave	0.56mi	4/2.0 (+1)	1,586 (+5%)	10mo	$110,000	$69	48
2051 Hope St	0.53mi	3/1.5	1,678 (+11%)	9mo	$77,500	$46	46
4108 Rayne Dr	0.72mi	3/2.0	1,392 (-8%)	11mo	$240,000	$172	40
501 Warrington Dr	0.72mi	3/2.5	1,615 (+7%)	10mo	$310,000	$192	40
318 Wallace Dr	0.60mi	2/3.0 (-1)	1,357 (-10%)	9mo	$246,000	$181	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 15.5%
• Equity multiple: 1.60×
• Total profit: $17,558
• Equity at exit: $15,581

10-year hold

• IRR: 21.8%
• Equity multiple: 2.58×
• Total profit: $46,311
• Equity at exit: $9,035

Cash invested: $29,260 (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 70122

• Rents YoY: -0.6%
• Active inventory: 332
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,801 high
• Mortgage (P&I): −$548
• Tax from tax record: −$141 /mo · $1,695/yr
• Insurance: −$44
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $623

Break-even live

Break-even rent $1,012

Max offer price $104,500

Occupancy floor 60%

Sensitivity live

Price	-10% $682	-5% $653	+0% $623	+5% $594	+10% $564
Rent	-10% $481	-5% $552	+0% $623	+5% $694	+10% $765
Rate	-1.0pp $676	-0.5pp $650	base $623	+0.5pp $596	+1.0pp $569

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: $26,125
• Closing costs: $3,135
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3956 Pauger St New Orleans, LA	2.0	2.0	1200	$1,550	$1.29	24d	1	0.14mi
3515 Saint Anthony Ave New Orleans, LA	3.0	2.0	1366	$2,500	$1.83	24d	1	0.14mi
3327 Elysian Fields Ave New Orleans, LA	3.0	1.0	1200	$1,300	$1.08	24d	1	0.29mi
2338 40 Annette St New Orleans, LA	3.0	1.0	1150	$1,385	$1.20	21d	1	0.29mi
1816 Benefit St New Orleans, LA	2.0	1.0	1148	$1,300	$1.13	17d	1	0.30mi
2152 Abundance St Unit 2152 New Orleans, LA	3.0	2.0	1100	$1,599	$1.45	4d	1	0.32mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	17d	1	0.39mi
2048 Florida Ave New Orleans, LA	2.0	1.0	1200	$2,000	$1.67	18d	1	0.41mi
2817 Annette St New Orleans, LA	3.0	1.0	1100	$1,350	$1.23	24d	1	0.41mi
3001 Marigny St New Orleans, LA	2.0	1.0	1250	$1,400	$1.12	24d	1	0.42mi
3607 Havana St New Orleans, LA	3.0	2.0	1693	$1,488	$0.88	18d	1	0.43mi
3624 Havana St New Orleans, LA	3.0	1.0	1388	$1,875	$1.35	17d	1	0.46mi
3021 Republic St New Orleans, LA	4.0	2.0	1125	$2,200	$1.96	24d	1	0.48mi
1656 Pleasure St New Orleans, LA	2.0	1.0	1190	$1,350	$1.13	24d	1	0.49mi
3907 Elysian Fields Ave New Orleans, LA	3.0	2.0	1652	$3,000	$1.82	24d	1	0.50mi
2175 N Broad St New Orleans, LA	2.0	1.0	1500	$1,500	$1.00	17d	1	0.50mi
3540 Clermont Dr New Orleans, LA	3.0	2.0	1248	$1,975	$1.58	24d	1	0.57mi
2130 N Broad St New Orleans, LA	2.0	1.0	1579	$1,350	$0.85	24d	1	0.57mi
2910 Bruxelles St New Orleans, LA	3.0	2.0	1074	$1,600	$1.49	4d	1	0.61mi
2310 George Nick Connor Dr New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	24d	1	0.65mi
4304 Pauger St New Orleans, LA	2.0	1.0	1345	$1,450	$1.08	4d	1	0.69mi
2338 Annette St Unit 1 New Orleans, LA	3.0	1.0	1150	$1,400	$1.22	20d	1	0.74mi
2509 Sage St New Orleans, LA	3.0	1.0	1250	$1,650	$1.32	22d	1	0.74mi
2311 Saint Anthony St Unit 1A New Orleans, LA	2.0	1.0	1100	$1,450	$1.32	24d	1	0.78mi
1901 Gentilly Blvd New Orleans, LA	3.0	2.5	2205	$4,000	$1.81	44d	1	0.82mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	24d	1	0.84mi
1818 Paul Morphy St Unit B New Orleans, LA	3.0	2.0	1065	$1,800	$1.69	24d	1	0.84mi
3015 Castiglione St New Orleans, LA	2.0	1.0	1075	$1,500	$1.40	24d	1	0.85mi
3718 Franklin Ave New Orleans, LA	2.0	1.0	1601	$1,800	$1.12	12d	1	0.86mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	44d	1	0.89mi
1823 Rosiere St New Orleans, LA	2.0	1.0	1400	$1,450	$1.04	24d	1	0.89mi
1821 Rosiere St New Orleans, LA	2.0	1.0	1400	$1,300	$0.93	24d	1	0.89mi
2647 Myrtle St Unit 2647 New Orleans, LA	4.0	2.0	1445	$2,550	$1.76	44d	1	0.90mi
2646 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	18d	1	0.91mi
2644 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	18d	1	0.91mi
4618 Marigny St New Orleans, LA	3.0	1.0	1320	$1,900	$1.44	24d	1	0.95mi
2115 Elysian Fields Ave Unit 2115 New Orleans, LA	3.0	1.0	1100	$1,450	$1.32	24d	1	0.95mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	4d	1	0.97mi
1735 N Tonti St New Orleans, LA	3.0	1.0	1197	$1,650	$1.38	24d	1	0.97mi
2229 Saint Roch Ave New Orleans, LA	2.0	1.5	1200	$1,600	$1.33	21d	1	0.99mi

Listing history 11 events

1. 2026-02-09
   status Pending 419-char remark

   Show marketing remark (419 chars)

   Subject property is in fair condition and in need of renovation. Property is being sold in as is where is condition. Inspections made by purchaser is for informational purposes only. Seller will make no repairs, utilities are off and will not be turned on by seller. This is an estate sale, offers must be present and approved by the acting judge over the estate sale. Please give 72 hours response time for all offers.

2. 2026-02-09
   status Pending 419-char remark

   Show marketing remark (419 chars)

   Subject property is in fair condition and in need of renovation. Property is being sold in as is where is condition. Inspections made by purchaser is for informational purposes only. Seller will make no repairs, utilities are off and will not be turned on by seller. This is an estate sale, offers must be present and approved by the acting judge over the estate sale. Please give 72 hours response time for all offers.

3. 2025-12-27
   status Active 419-char remark

   Show marketing remark (419 chars)

   Subject property is in fair condition and in need of renovation. Property is being sold in as is where is condition. Inspections made by purchaser is for informational purposes only. Seller will make no repairs, utilities are off and will not be turned on by seller. This is an estate sale, offers must be present and approved by the acting judge over the estate sale. Please give 72 hours response time for all offers.

4. 2025-12-27
   price $104,500 419-char remark

   Show marketing remark (419 chars)

   Subject property is in fair condition and in need of renovation. Property is being sold in as is where is condition. Inspections made by purchaser is for informational purposes only. Seller will make no repairs, utilities are off and will not be turned on by seller. This is an estate sale, offers must be present and approved by the acting judge over the estate sale. Please give 72 hours response time for all offers.

5. 2025-12-27
   price $104,500 419-char remark

   Show marketing remark (419 chars)

   Subject property is in fair condition and in need of renovation. Property is being sold in as is where is condition. Inspections made by purchaser is for informational purposes only. Seller will make no repairs, utilities are off and will not be turned on by seller. This is an estate sale, offers must be present and approved by the acting judge over the estate sale. Please give 72 hours response time for all offers.

6. 2025-06-22
   historical Active Under Contract 419-char remark

   Show marketing remark (419 chars)

   Subject property is in fair condition and in need of renovation. Property is being sold in as is where is condition. Inspections made by purchaser is for informational purposes only. Seller will make no repairs, utilities are off and will not be turned on by seller. This is an estate sale, offers must be present and approved by the acting judge over the estate sale. Please give 72 hours response time for all offers.

7. 2025-06-22
   status Active 419-char remark

   Show marketing remark (419 chars)

   Subject property is in fair condition and in need of renovation. Property is being sold in as is where is condition. Inspections made by purchaser is for informational purposes only. Seller will make no repairs, utilities are off and will not be turned on by seller. This is an estate sale, offers must be present and approved by the acting judge over the estate sale. Please give 72 hours response time for all offers.

8. 2024-07-16
   historical 419-char remark

   Show marketing remark (419 chars)

   Subject property is in fair condition and in need of renovation. Property is being sold in as is where is condition. Inspections made by purchaser is for informational purposes only. Seller will make no repairs, utilities are off and will not be turned on by seller. This is an estate sale, offers must be present and approved by the acting judge over the estate sale. Please give 72 hours response time for all offers.

9. 2024-05-05
   historical Active Under Contract 419-char remark

   Show marketing remark (419 chars)

   Subject property is in fair condition and in need of renovation. Property is being sold in as is where is condition. Inspections made by purchaser is for informational purposes only. Seller will make no repairs, utilities are off and will not be turned on by seller. This is an estate sale, offers must be present and approved by the acting judge over the estate sale. Please give 72 hours response time for all offers.

10. 2024-05-03
    listed $79,900 Active 419-char remark

    Show marketing remark (419 chars)

    Subject property is in fair condition and in need of renovation. Property is being sold in as is where is condition. Inspections made by purchaser is for informational purposes only. Seller will make no repairs, utilities are off and will not be turned on by seller. This is an estate sale, offers must be present and approved by the acting judge over the estate sale. Please give 72 hours response time for all offers.

11. 2024-05-03
    listed $79,900 419-char remark

    Show marketing remark (419 chars)

    Subject property is in fair condition and in need of renovation. Property is being sold in as is where is condition. Inspections made by purchaser is for informational purposes only. Seller will make no repairs, utilities are off and will not be turned on by seller. This is an estate sale, offers must be present and approved by the acting judge over the estate sale. Please give 72 hours response time for all offers.

ⓘ 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: $1,695 · $141/mo
• Projected year-2 tax: $1,695 · $141/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: $21,608
• − Mortgage interest: −$5,854
• − Property taxes: −$1,695
• − Insurance: −$1,320
• − Repairs & maintenance: −$1,729
• − Management: −$1,729
• − Depreciation: −$3,040
• Taxable income: $6,242
• Est. tax owed @ 24.0%: −$1,498
• After-tax cash flow: $5,981/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): 35,253
• Household income: $49,455
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 2150.0

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 (69%)
• Race & ethnicity: Black 69% White 18% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 4% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 1% 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: ▼ -222.37%
• Current HPI: 231.9921
• Rent YoY: ▼ -0.61%
• 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

+30.8% since first listed

11 events — show timeline

• 2026-02-09 Pending — GSREIN
• 2026-02-09 Pending — AcadianaMLS
• 2025-12-27 Relisted — GSREIN
• 2025-12-27 Price Changed $104,500 GSREIN
• 2025-12-27 Price Changed $104,500 AcadianaMLS
• 2025-06-22 Contingent — GSREIN
• 2025-06-22 Relisted — GSREIN
• 2024-07-16 Listing Removed — GSREIN
• 2024-05-05 Contingent — GSREIN
• 2024-05-03 Listed $79,900 AcadianaMLS
• 2024-05-03 Listed $79,900 GSREIN

Property tax history

+3.6%/yr

Latest (2026): $1,695 · +1.1% YoY. Source: county tax records.