3611 2nd St · New Orleans, LA 70125

$134,900

4 bd · 2.0 ba · 1,856 sqft · SingleFamily public records · 3 Days on market

Built 2008 6,599 sqft lot $73/sqft · 58% below area ↓ 19% 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
• 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

NEW PRICE!!! EASY TO SHOW!!! This 4-bedroom, 2-bathroom sturdy home is available for a new owner and offers 1,650 square feet of living space. Approximately 18 years old, it features a nice porch and additional porch in the rear. The spacious living area is conveniently located off the kitchen. The property boasts easy access to the Central Business District (CBD) and the Pontchartrain Expressway. Call for your appointment to see this one today!

Key facts

• Additional porch
• 6,599 sq ft lot
• 3 parking spots

Tags

• ADDITIONAL PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 12.3% 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.
• Market conditions: Rents flat; 217 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 43% of the median local income ($61k/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 $933 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 12y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; 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 $134,900

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.63% ✓
• Cap rate: 12.31%
• Cash-on-cash: 21.48%
• DSCR: 1.96
• GRM: 5.1

CMA / ARV

• ARV (median comp): $285,776
• List price: $134,900
• Delta: -49.30%
• 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
2230 S Lopez St	0.72mi	4/2.0	1,858 (+0%)	1mo	$415,000	$223	65
4310 Elba St	0.60mi	3/2.0 (-1)	1,832 (-1%)	3mo	$340,000	$186	63
3725 Gen Pershing St	0.44mi	3/2.0 (-1)	1,768 (-5%)	5mo	$338,000	$191	63
2814 Second St	0.52mi	3/3.5 (-1)	1,805 (-3%)	0mo	$255,000	$141	60
1313 S Dupre St	0.48mi	4/2.0	2,000 (+8%)	6mo	$72,500	$36	59
4231 S Johnson St	0.52mi	3/2.0 (-1)	1,921 (+4%)	7mo	$418,000	$218	59
4222 Elba St	0.55mi	3/2.0 (-1)	1,746 (-6%)	3mo	$291,000	$167	57
3225 General Taylor St	0.49mi	4/2.5	2,061 (+11%)	5mo	$350,000	$170	52
4119 Walmsley Ave	0.49mi	3/2.0 (-1)	1,596 (-14%)	1mo	$427,750	$268	48
4413 Fontainebleau Dr	0.70mi	3/2.0 (-1)	1,695 (-9%)	7mo	$301,000	$178	42
2909 Amelia St	0.65mi	4/2.5	2,119 (+14%)	3mo	$360,000	$170	42
4428 Fontainebleau Dr	0.74mi	3/2.0 (-1)	1,650 (-11%)	1mo	$373,000	$226	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: -7.8%
• Equity multiple: 0.72×
• Total profit: $-10,493
• Equity at exit: $20,114

10-year hold

• IRR: -2.9%
• Equity multiple: 0.83×
• Total profit: $-6,380
• Equity at exit: $11,664

Cash invested: $37,772 (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: 217
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,196 high
• Mortgage (P&I): −$707
• Tax from tax record: −$295 /mo · $3,540/yr
• Insurance: −$56
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $250

Break-even live

Break-even rent $1,880

Max offer price $134,900

Occupancy floor 84%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2606 S Miro St New Orleans, LA	3.0	2.0	1450	$2,016	$1.39	23d	1	0.08mi
3617 Fourth St Unit A New Orleans, LA	3.0	2.0	1225	$1,995	$1.63	17d	1	0.10mi
2614 S Johnson St New Orleans, LA	3.0	2.0	1536	$2,079	$1.35	14d	1	0.19mi
3218 Jackson Ave New Orleans, LA	3.0	2.0	1267	$1,750	$1.38	23d	1	0.22mi
3120 Second St New Orleans, LA	3.0	3.0	1256	$2,050	$1.63	23d	1	0.31mi
3200 Washington Ave Unit NA New Orleans, LA	4.0	3.0	2490	$3,400	$1.37	3d	1	0.33mi
3514 S Miro St New Orleans, LA	3.0	2.0	1230	$1,950	$1.59	17d	1	0.36mi
2833 S Derbigny St New Orleans, LA	3.0	2.0	1500	$1,795	$1.20	23d	1	0.40mi
3208 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1391	$1,900	$1.37	17d	1	0.42mi
3044 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1800	$1,900	$1.06	23d	1	0.49mi
4120 Erato St New Orleans, LA	3.0	2.0	2250	$1,750	$0.78	23d	1	0.50mi
3035 Delachaise St New Orleans, LA	3.0	1.0	1968	$1,750	$0.89	2d	1	0.53mi
4401 Elba St New Orleans, LA	3.0	2.0	1400	$1,850	$1.32	23d	1	0.60mi
4403 Elba St New Orleans, LA	3.0	2.0	1400	$1,800	$1.29	3d	1	0.60mi
4400 Elba St New Orleans, LA	3.0	2.0	1600	$1,875	$1.17	23d	1	0.61mi
4206 S Derbigny St New Orleans, LA	3.0	1.0	1300	$1,600	$1.23	23d	1	0.62mi
2722 Martin L King Bl New Orleans, LA	3.0	2.5	1350	$1,800	$1.33	23d	1	0.63mi
2608 Magnolia St New Orleans, LA	4.0	2.5	1950	$3,200	$1.64	43d	1	0.64mi
1407 Magnolia St New Orleans, LA	3.0	2.0	1824	$1,500	$0.82	23d	1	0.66mi
3350 Jena St New Orleans, LA	3.0	2.5	2200	$2,500	$1.14	43d	1	0.66mi
3636 Upperline St New Orleans, LA	3.0	1.0	1600	$1,975	$1.23	23d	1	0.67mi
4603 S Miro St New Orleans, LA	3.0	2.0	1650	$1,650	$1.00	23d	1	0.67mi
1603 S Rendon St New Orleans, LA	3.0	2.0	1329	$1,900	$1.43	20d	1	0.68mi
2117 S Lopez St New Orleans, LA	5.0	2.0	1920	$2,000	$1.04	23d	1	0.68mi
3429 Clara St New Orleans, LA	3.0	2.0	1620	$2,350	$1.45	14d	1	0.69mi
2651 Poydras St New Orleans, LA	1.0–4.0	1.0–2.0	1095	$2,545	$2.32	1d	16	0.73mi
3737 Nashville Ave New Orleans, LA	4.0	2.0	2000	$3,400	$1.70	21d	1	0.79mi
2717 Milan St New Orleans, LA	3.0	1.5	1850	$1,650	$0.89	14d	1	0.81mi
2539 Amelia St New Orleans, LA	3.0	2.0	1296	$2,200	$1.70	23d	1	0.85mi
2600 Peniston St New Orleans, LA	4.0	2.0	2342	$3,500	$1.49	43d	1	0.85mi
2645 Gravier St Unit 2645-A New Orleans, LA	3.0	1.0	1290	$1,595	$1.24	23d	1	0.86mi
2231 S Liberty St New Orleans, LA	3.0	3.5	1752	$2,000	$1.14	17d	1	0.86mi
4117 State Street Dr New Orleans, LA	3.0	1.0	1678	$1,550	$0.92	11d	1	0.87mi
2318 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1400	$1,700	$1.21	23d	1	0.87mi
2123 S Liberty St Unit 2125 New Orleans, LA	3.0	2.0	1500	$2,100	$1.40	3d	1	0.87mi
5417 S Johnson St New Orleans, LA	3.0	3.0	1739	$2,900	$1.67	17d	1	0.89mi
2535 Marengo St New Orleans, LA	3.0	1.0	1300	$1,200	$0.92	14d	1	0.89mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1232	$2,300	$1.87	23d	1	0.97mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1250	$2,300	$1.84	2d	1	0.97mi
3180 State Street Dr New Orleans, LA	3.0	2.0	1600	$1,900	$1.19	10d	1	0.98mi

Listing history 29 events

1. 2026-06-18
   days on market $134,900 Active 3 DOM
2. 2026-06-17
   days on market $134,900 Active 2 DOM
3. 2026-06-16
   pricedays on marketlisting id $134,900 Active 1 DOM
4. 2026-06-03
   days on market $144,900 Active 110 DOM
5. 2026-06-02
   days on market $144,900 Active 109 DOM
6. 2026-06-01
   days on market $144,900 Active 108 DOM
7. 2026-05-31
   days on market $144,900 Active 107 DOM
8. 2026-04-29
   price $144,900 449-char remark

   Show marketing remark (450 chars)

   NEW PRICE!!! EASY TO SHOW!!! This 4-bedroom, 2-bathroom sturdy home is available for a new owner and offers 1,650 square feet of living space. Approximately 18 years old, it features a nice porch and additional porch in the rear. The spacious living area is conveniently located off the kitchen. The property boasts easy access to the Central Business District (CBD) and the Pontchartrain Expressway. Call for your appointment to see this one today!

9. 2026-04-29
   price $144,900 450-char remark

   Show marketing remark (450 chars)

   NEW PRICE!!! EASY TO SHOW!!! This 4-bedroom, 2-bathroom sturdy home is available for a new owner and offers 1,650 square feet of living space. Approximately 18 years old, it features a nice porch and additional porch in the rear. The spacious living area is conveniently located off the kitchen. The property boasts easy access to the Central Business District (CBD) and the Pontchartrain Expressway. Call for your appointment to see this one today!

10. 2026-02-06
    listed $154,900 Active 449-char remark

    Show marketing remark (450 chars)

    NEW PRICE!!! EASY TO SHOW!!! This 4-bedroom, 2-bathroom sturdy home is available for a new owner and offers 1,650 square feet of living space. Approximately 18 years old, it features a nice porch and additional porch in the rear. The spacious living area is conveniently located off the kitchen. The property boasts easy access to the Central Business District (CBD) and the Pontchartrain Expressway. Call for your appointment to see this one today!

11. 2026-02-06
    listed $154,900 Active 450-char remark

    Show marketing remark (450 chars)

    NEW PRICE!!! EASY TO SHOW!!! This 4-bedroom, 2-bathroom sturdy home is available for a new owner and offers 1,650 square feet of living space. Approximately 18 years old, it features a nice porch and additional porch in the rear. The spacious living area is conveniently located off the kitchen. The property boasts easy access to the Central Business District (CBD) and the Pontchartrain Expressway. Call for your appointment to see this one today!

12. 2025-12-06
    price $154,900
13. 2025-12-06
    price $154,900
14. 2025-10-30
    price $169,900
15. 2025-10-30
    price $169,900
16. 2025-09-21
    price $179,900
17. 2025-09-21
    price $179,900
18. 2025-08-14
    listed $184,900 Active
19. 2025-08-14
    listed $179,900 Active
20. 2025-03-28
    price $160,000
21. 2025-03-28
    price $160,000
22. 2025-03-06
    listed $199,500 Active
23. 2023-07-10
    price $160,000
24. 2023-05-11
    listed $160,000
25. 2022-12-22
    price $235,000
26. 2022-10-05
    price $265,000
27. 2022-10-05
    listed $235,000
28. 2014-08-06
    listed $179,000
29. 2014-08-06
    listed $179,000

ⓘ 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: $3,540 · $295/mo
• Projected year-2 tax: $3,540 · $295/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 AE · 78% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,351
• − Mortgage interest: −$7,556
• − Property taxes: −$3,540
• − Insurance: −$5,793
• − Repairs & maintenance: −$2,108
• − Management: −$2,108
• − Depreciation: −$3,924
• Taxable income: $1,321
• Est. tax owed @ 24.0%: −$317
• After-tax cash flow: $2,678/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

-19.1% since first listed

22 events — show timeline

• 2026-04-29 Price Changed $144,900 AcadianaMLS
• 2026-04-29 Price Changed $144,900 GSREIN
• 2026-02-06 Listed $154,900 GSREIN
• 2026-02-06 Listed $154,900 AcadianaMLS
• 2025-12-06 Price Changed $154,900 AcadianaMLS
• 2025-12-06 Price Changed $154,900 GSREIN
• 2025-10-30 Price Changed $169,900 AcadianaMLS
• 2025-10-30 Price Changed $169,900 GSREIN
• 2025-09-21 Price Changed $179,900 AcadianaMLS
• 2025-09-21 Price Changed $179,900 GSREIN
• 2025-08-14 Listed $179,900 AcadianaMLS
• 2025-08-14 Listed $184,900 AcadianaMLS
• 2025-03-28 Price Changed $160,000 AcadianaMLS
• 2025-03-28 Price Changed $160,000 GSREIN
• 2025-03-06 Listed $199,500 AcadianaMLS
• 2023-07-10 Price Changed $160,000 GSREIN
• 2023-05-11 Listed $160,000 AcadianaMLS
• 2022-12-22 Price Changed $235,000 GSREIN
• 2022-10-05 Price Changed $265,000 GSREIN
• 2022-10-05 Listed $235,000 AcadianaMLS
• 2014-08-06 Listed $179,000 GSREIN
• 2014-08-06 Listed $179,000 AcadianaMLS

Property tax history

+2.9%/yr

Latest (2026): $3,540 · +1.1% YoY. Source: county tax records.