11240 Winrock Dr · New Orleans, LA 70128

$235,000

4 bd · 2.0 ba · 2,510 sqft · SingleFamily public records · 137 Days on market

Built 1986 Est $281k · 16% under $28/mo HOA · 1% of rent

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Why this score? — see what drove the D+ 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 +15.6/30.0
• ARV discount +14.9/15.0
• DSCR +4.8/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect 3 bed, 2 bath home to personalize with a spacious 2 car garage in Lake Bullard Neighborhood, X Flood Zone. Vaulted ceilings with exposed wood beams, hardwood floors and a cozy brick fireplace anchoring the open-concept great room. Versatile bonus room and a private stairwell to your very own rooftop terrace. Each bedroom features well maintained soft carpeting. The secondary bathroom is fully tiled floor to ceiling in a bold, decorative pattern. PROPERTY QUALIFIES FOR $5,000 CHASE HOMEBUYER GRANT

Key facts

• Exposed wood beams
• Cozy brick fireplace
• Vaulted ceilings

Tags

• SPACIOUS 2 CAR GARAGE
• LAKE BULLARD NEIGHBORHOOD
• VAULTED CEILINGS
• EXPOSED WOOD BEAMS
• HARDWOOD FLOORS
• COZY BRICK FIREPLACE

Property features AI

Finance

• HOA & community: Homeowners association (Lake Bullard) with an annual fee of $500

Exterior

• Parking: Garage with door opener; Two or more parking spaces (two to three+ spaces)
• Utilities: Public water; Public sewer
• Home design: Single-story; Brick construction; Slab foundation; Shingle roof; Property in very good condition
• Construction: Built with brick; Slab foundation; Shingle roof
• Exterior features: Balcony; Wood patio/porch; Fenced yard; City lot; Rectangular lot

Interior

• Kitchen: Microwave
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $33 ($390/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (10.8% below list).
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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: 105 active listings in the ZIP; 3 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 137 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 8 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.
• Current owner paid $127k; list at $235k implies a 85% gain — meaningful room to come down on a strong offer.

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 $206,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 0.89% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.80%
• DSCR: 1.08
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $281,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11404 Melvin Pl	0.26mi	3/2.5 (-1)	2,443 (-3%)	7mo	$295,000	$121	70
5872 W Louis Prima Dr	0.39mi	4/2.5	2,372 (-6%)	3mo	$220,000	$93	68
5710 Louis Prima Ct	0.10mi	4/2.0	2,231 (-11%)	13mo	$236,000	$106	66
5301 E Idlewood Ct	0.22mi	3/2.0 (-1)	2,168 (-14%)	5mo	$70,000	$32	58
11210 S Idlewood Ct	0.35mi	3/2.0 (-1)	2,253 (-10%)	8mo	$215,000	$95	55
11280 Fernley Dr	0.38mi	4/2.0	2,690 (+7%)	18mo	$277,000	$103	55
11276 Notaway Ln	0.48mi	4/2.5	2,461 (-2%)	21mo	$275,000	$112	55
11404 N Easterlyn Cir	0.38mi	4/3.0	2,318 (-8%)	19mo	$375,000	$162	50
11420 S Easterlyn Cir	0.41mi	4/2.0	2,800 (+12%)	16mo	$405,000	$145	48
4937 Robin Hood Dr	0.68mi	3/2.0 (-1)	2,545 (+1%)	16mo	$210,000	$83	48
5042 Par Four Dr	0.65mi	4/3.5	2,618 (+4%)	14mo	$370,000	$141	45
111 E Greenbrier Dr	0.72mi	4/3.5	2,750 (+10%)	4mo	$345,000	$125	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.45×
• Total profit: $-35,978
• Equity at exit: $35,039

10-year hold

• IRR: -6.8%
• Equity multiple: 0.57×
• Total profit: $-28,536
• Equity at exit: $20,319

Cash invested: $65,800 (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 70128

• Home prices YoY: -5.9%
• Active inventory: 105
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,096 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$199 /mo · $2,382/yr
• Insurance: −$98
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$28
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $33

Break-even live

Break-even rent $2,055

Max offer price $235,000

Occupancy floor 93%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5754 Louis Prima Dr E New Orleans, LA	3.0	2.5	2069	$2,195	$1.06	23d	1	0.22mi
5000 Cardenas Dr New Orleans, LA	3.0	2.0	1800	$1,920	$1.07	23d	1	0.86mi
10951 Roger Dr Unit B New Orleans, LA	3.0	2.5	2048	$1,850	$0.90	23d	1	0.92mi

HOA detail

• Monthly dues: $28 · $336/yr

Listing history 30 events

1. 2026-06-18
   days on market $235,000 Active 137 DOM
2. 2026-06-17
   days on market $235,000 Active 136 DOM
3. 2026-06-16
   days on market $235,000 Active 135 DOM
4. 2026-06-15
   days on market $235,000 Active 134 DOM
5. 2026-06-13
   days on market $235,000 Active 132 DOM
6. 2026-06-10
   days on market $235,000 Active 129 DOM
7. 2026-06-09
   days on market $235,000 Active 128 DOM
8. 2026-06-08
   days on market $235,000 Active 127 DOM
9. 2026-06-07
   days on market $235,000 Active 126 DOM
10. 2026-06-05
    days on market $235,000 Active 123 DOM
11. 2026-06-03
    days on market $235,000 Active 122 DOM
12. 2026-06-02
    days on market $235,000 Active 121 DOM
13. 2026-06-01
    days on market $235,000 Active 120 DOM
14. 2026-05-31
    days on market $235,000 Active 119 DOM
15. 2026-05-22
    status Active 509-char remark

    Show marketing remark (509 chars)

    Perfect 3 bed, 2 bath home to personalize with a spacious 2 car garage in Lake Bullard Neighborhood, X Flood Zone. Vaulted ceilings with exposed wood beams, hardwood floors and a cozy brick fireplace anchoring the open-concept great room. Versatile bonus room and a private stairwell to your very own rooftop terrace. Each bedroom features well maintained soft carpeting. The secondary bathroom is fully tiled floor to ceiling in a bold, decorative pattern. PROPERTY QUALIFIES FOR $5,000 CHASE HOMEBUYER GRANT

16. 2026-05-22
    status Active

    Show marketing remark (509 chars)

    Perfect 3 bed, 2 bath home to personalize with a spacious 2 car garage in Lake Bullard Neighborhood, X Flood Zone. Vaulted ceilings with exposed wood beams, hardwood floors and a cozy brick fireplace anchoring the open-concept great room. Versatile bonus room and a private stairwell to your very own rooftop terrace. Each bedroom features well maintained soft carpeting. The secondary bathroom is fully tiled floor to ceiling in a bold, decorative pattern. PROPERTY QUALIFIES FOR $5,000 CHASE HOMEBUYER GRANT

17. 2026-04-05
    status Pending 509-char remark

    Show marketing remark (509 chars)

    Perfect 3 bed, 2 bath home to personalize with a spacious 2 car garage in Lake Bullard Neighborhood, X Flood Zone. Vaulted ceilings with exposed wood beams, hardwood floors and a cozy brick fireplace anchoring the open-concept great room. Versatile bonus room and a private stairwell to your very own rooftop terrace. Each bedroom features well maintained soft carpeting. The secondary bathroom is fully tiled floor to ceiling in a bold, decorative pattern. PROPERTY QUALIFIES FOR $5,000 CHASE HOMEBUYER GRANT

18. 2026-04-05
    historical Active Under Contract

    Show marketing remark (509 chars)

    Perfect 3 bed, 2 bath home to personalize with a spacious 2 car garage in Lake Bullard Neighborhood, X Flood Zone. Vaulted ceilings with exposed wood beams, hardwood floors and a cozy brick fireplace anchoring the open-concept great room. Versatile bonus room and a private stairwell to your very own rooftop terrace. Each bedroom features well maintained soft carpeting. The secondary bathroom is fully tiled floor to ceiling in a bold, decorative pattern. PROPERTY QUALIFIES FOR $5,000 CHASE HOMEBUYER GRANT

19. 2026-02-01
    listed $235,000 Active 509-char remark

    Show marketing remark (509 chars)

    Perfect 3 bed, 2 bath home to personalize with a spacious 2 car garage in Lake Bullard Neighborhood, X Flood Zone. Vaulted ceilings with exposed wood beams, hardwood floors and a cozy brick fireplace anchoring the open-concept great room. Versatile bonus room and a private stairwell to your very own rooftop terrace. Each bedroom features well maintained soft carpeting. The secondary bathroom is fully tiled floor to ceiling in a bold, decorative pattern. PROPERTY QUALIFIES FOR $5,000 CHASE HOMEBUYER GRANT

20. 2026-02-01
    listed $235,000 Active

    Show marketing remark (509 chars)

    Perfect 3 bed, 2 bath home to personalize with a spacious 2 car garage in Lake Bullard Neighborhood, X Flood Zone. Vaulted ceilings with exposed wood beams, hardwood floors and a cozy brick fireplace anchoring the open-concept great room. Versatile bonus room and a private stairwell to your very own rooftop terrace. Each bedroom features well maintained soft carpeting. The secondary bathroom is fully tiled floor to ceiling in a bold, decorative pattern. PROPERTY QUALIFIES FOR $5,000 CHASE HOMEBUYER GRANT

21. 2025-07-25
    price $255,000
22. 2025-07-25
    price $255,000
23. 2025-05-13
    listed $265,000 Active
24. 2024-06-15
    price $285,000
25. 2024-04-24
    listed $285,000 Active
26. 1993-09-15
    soldstatus $127,000
27. 1993-09-15
    soldstatus $127,000
28. 1992-06-15
    listed $135,900
29. 1992-06-15
    listed $135,900
30. 1983-05-05
    soldstatus $24,832

ⓘ 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: $2,382 · $199/mo
• Projected year-2 tax: $2,382 · $199/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 X (shaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,151
• − Mortgage interest: −$13,164
• − Property taxes: −$2,382
• − Insurance: −$1,972
• − Repairs & maintenance: −$2,012
• − Management: −$2,012
• − HOA: −$336
• − Depreciation: −$6,836
• Taxable loss: −$3,564
• Est. tax savings @ 24.0%: +$855
• After-tax cash flow: $1,245/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
• City population: 338,817
• Population (ZIP): 22,973

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 (86%)
• Race & ethnicity: Black 86% Asian 5% White 4% Two or more races 3%
• Foreign-born: 4% · Vietnam, Canada
• Languages at home: 95% English-only · Vietnamese 4% Spanish 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: ▼ -15.51%
• Current HPI: 247.7131
• Rent YoY: —
• Metro: —
• 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

+846.4% since first listed

16 events — show timeline

• 2026-05-22 Relisted — AcadianaMLS
• 2026-05-22 Relisted — GSREIN
• 2026-04-05 Pending — AcadianaMLS
• 2026-04-05 Contingent — GSREIN
• 2026-02-01 Listed $235,000 GSREIN
• 2026-02-01 Listed $235,000 AcadianaMLS
• 2025-07-25 Price Changed $255,000 AcadianaMLS
• 2025-07-25 Price Changed $255,000 GSREIN
• 2025-05-13 Listed $265,000 AcadianaMLS
• 2024-06-15 Price Changed $285,000 GSREIN
• 2024-04-24 Listed $285,000 AcadianaMLS
• 1993-09-15 Sold (Public Records) $127,000 Public Records
• 1993-09-15 Sold (MLS) $127,000 GSREIN
• 1992-06-15 Listed $135,900 AcadianaMLS
• 1992-06-15 Listed $135,900 GSREIN
• 1983-05-05 Sold (Public Records) $24,832 Public Records

Property tax history

-1.7%/yr

Latest (2026): $2,382 · -4.0% YoY. Source: county tax records.