7912 Redfish St · New Orleans, LA 70126

$88,900

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 119 Days on market

Built 2011 $132/sqft · 11% below area Est $106k · 16% under

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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 +29.3/30.0
• ARV discount +14.7/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming raised cottage built in 2011, features a 2 bedroom, a living room that opens to the kit equipped w/ appliances, dedicated laundry area, and off street parking. New flooring has recently been added, as well as fresh paint and new steps This home just needs a few finishing touches to be complete-a toilet and tub and adding additional Hardie plank. The property is being sold "as is" Financing options are limited to cash, FHA 203K loan or a construction loan, due to the unfinished bath. No flooding. All measurements are approximate. It is up to agent/buyer to confirm meas. This Home is in good condition..

Key facts

• Ac system installed
• New vanity
• Off street parking

Tags

• DEDICATED LAUNDRY AREA
• OFF STREET PARKING
• AC SYSTEM INSTALLED
• GRANITE COUNTERTOP
• NEW TUB
• NEW VANITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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 (-0.2%/yr); 224 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• This rent runs 33% of the median local income ($42k/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 $615 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 119 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago; this cycle's ask is 11% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $10k; list at $89k implies a 789% 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 $80,899 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.29% ✓
• Cap rate: 10.53%
• Cash-on-cash: 15.13%
• DSCR: 1.67
• GRM: 6.5

CMA / ARV

• ARV (median comp): $105,880
• List price: $88,900
• Delta: -16.04%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
52 Martin Dr	0.11mi	2/1.0	750 (+12%)	10mo	$99,000	$132	67

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: -2.2%
• Equity multiple: 0.92×
• Total profit: $-1,956
• Equity at exit: $13,255

10-year hold

• IRR: 3.7%
• Equity multiple: 1.23×
• Total profit: $5,812
• Equity at exit: $7,686

Cash invested: $24,892 (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 70126

• Home prices YoY: -17.0%
• Rents YoY: -0.2%
• Active inventory: 224
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,143 medium
• Mortgage (P&I): −$466
• Tax from tax record: −$86 /mo · $1,034/yr
• Insurance: −$37
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $247

Break-even live

Break-even rent $830

Max offer price $88,900

Occupancy floor 73%

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: $22,225
• Closing costs: $2,667
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7019 Huntington Park Dr Unit 11 New Orleans, LA	1.0	1.0	590	$882	$1.49	3d	1	1.12mi
6881 Parc Brittany Blvd New Orleans, LA	1.0–2.0	1.0–2.0	741	$1,055	$1.42	2d	31	1.16mi
7019 Crowder Blvd Unit 133 New Orleans, LA	1.0	1.0	590	$892	$1.51	24d	1	1.24mi

Listing history 23 events

1. 2026-06-18
   days on market $88,900 Active 119 DOM
2. 2026-06-17
   days on market $88,900 Active 118 DOM
3. 2026-06-16
   days on market $88,900 Active 117 DOM
4. 2026-06-15
   days on market $88,900 Active 116 DOM
5. 2026-06-13
   days on market $88,900 Active 114 DOM
6. 2026-06-10
   days on market $88,900 Active 111 DOM
7. 2026-06-09
   days on market $88,900 Active 110 DOM
8. 2026-06-08
   days on market $88,900 Active 109 DOM
9. 2026-06-07
   days on market $88,900 Active 108 DOM
10. 2026-06-05
    days on market $88,900 Active 105 DOM
11. 2026-06-03
    days on market $88,900 Active 104 DOM
12. 2026-06-02
    days on market $88,900 Active 103 DOM
13. 2026-06-01
    days on market $88,900 Active 102 DOM
14. 2026-05-31
    days on market $88,900 Active 101 DOM
15. 2026-05-13
    price $88,900 627-char remark

    Show marketing remark (630 chars)

    Charming raised cottage built in 2011, features a 2 bedroom, a living room that opens to the kit equipped w/ appliances, dedicated laundry area, and off street parking. New flooring has recently been added, as well as fresh paint and new steps This home just needs a few finishing touches to be complete-a toilet and tub and adding additional Hardie plank. The property is being sold "as is" Financing options are limited to cash, FHA 203K loan or a construction loan, due to the unfinished bath. No flooding. All measurements are approximate. It is up to agent/buyer to confirm meas. This Home is in good condition. .

16. 2026-05-13
    price $88,900 630-char remark

    Show marketing remark (630 chars)

    Charming raised cottage built in 2011, features a 2 bedroom, a living room that opens to the kit equipped w/ appliances, dedicated laundry area, and off street parking. New flooring has recently been added, as well as fresh paint and new steps This home just needs a few finishing touches to be complete-a toilet and tub and adding additional Hardie plank. The property is being sold "as is" Financing options are limited to cash, FHA 203K loan or a construction loan, due to the unfinished bath. No flooding. All measurements are approximate. It is up to agent/buyer to confirm meas. This Home is in good condition. .

17. 2026-02-19
    listed $79,900 Active 627-char remark

    Show marketing remark (630 chars)

    Charming raised cottage built in 2011, features a 2 bedroom, a living room that opens to the kit equipped w/ appliances, dedicated laundry area, and off street parking. New flooring has recently been added, as well as fresh paint and new steps This home just needs a few finishing touches to be complete-a toilet and tub and adding additional Hardie plank. The property is being sold "as is" Financing options are limited to cash, FHA 203K loan or a construction loan, due to the unfinished bath. No flooding. All measurements are approximate. It is up to agent/buyer to confirm meas. This Home is in good condition. .

18. 2026-02-19
    listed $79,900 Active 630-char remark

    Show marketing remark (630 chars)

    Charming raised cottage built in 2011, features a 2 bedroom, a living room that opens to the kit equipped w/ appliances, dedicated laundry area, and off street parking. New flooring has recently been added, as well as fresh paint and new steps This home just needs a few finishing touches to be complete-a toilet and tub and adding additional Hardie plank. The property is being sold "as is" Financing options are limited to cash, FHA 203K loan or a construction loan, due to the unfinished bath. No flooding. All measurements are approximate. It is up to agent/buyer to confirm meas. This Home is in good condition. .

19. 2009-09-10
    soldstatus $10,000
20. 2009-08-31
    soldstatus $10,000
21. 2008-10-31
    listed $13,000
22. 2008-10-31
    listed $13,000
23. 1993-11-29
    soldstatus $12,000

ⓘ 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: $1,034 · $86/mo
• Projected year-2 tax: $1,034 · $86/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 ≥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: $13,721
• − Mortgage interest: −$4,980
• − Property taxes: −$1,034
• − Insurance: −$1,242
• − Repairs & maintenance: −$1,098
• − Management: −$1,098
• − Depreciation: −$2,586
• Taxable income: $1,684
• Est. tax owed @ 24.0%: −$404
• After-tax cash flow: $2,565/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): 27,047
• Household income: $41,709
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 1767.0

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 (85%)
• Race & ethnicity: Black 85% Hispanic / Latino 6% Two or more races 5% White 5%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 5% Other Indo-European 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: ▼ -36.35%
• Current HPI: 177.355
• Rent YoY: ▼ -0.24%
• 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

+640.8% since first listed

9 events — show timeline

• 2026-05-13 Price Changed $88,900 AcadianaMLS
• 2026-05-13 Price Changed $88,900 GSREIN
• 2026-02-19 Listed $79,900 GSREIN
• 2026-02-19 Listed $79,900 AcadianaMLS
• 2009-09-10 Sold (Public Records) $10,000 Public Records
• 2009-08-31 Sold (MLS) $10,000 GSREIN
• 2008-10-31 Listed $13,000 AcadianaMLS
• 2008-10-31 Listed $13,000 GSREIN
• 1993-11-29 Sold (Public Records) $12,000 Public Records

Property tax history

+0.6%/yr

Latest (2026): $1,034 · +1.1% YoY. Source: county tax records.