1202 Behrman Ave · New Orleans, LA 70114

$279,000

4 bd · 2.5 ba · 2,444 sqft · SingleFamily public records · 20 Days on market

Built 1955 Est $521k · 46% under

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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 +17.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• Livability +4.0/5.0
• 1% rule +3.6/10.0
• 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

<br><br> Situated on a desirable corner lot (64x120 lot!), the property features a spacious fenced backyard perfect for entertaining, gardening, pets, or simply enjoying the outdoors. A large rear deck provides the ideal setting for morning coffee, weekend gatherings, and seamless access to the yard below. <br><br> Inside, you'll find comfortable living spaces, well-appointed bedrooms, and a layout designed for everyday living. Beneath the home is an impressive walkable storage area, offering ample space for tools, equipment, seasonal items, and more--a rare and valuable feature. <br><br> Located in a coveted X Flood Zone, this property combines peace of mind with exceptional functionality and charm. If you're looking for a move-in-ready home with abundant natural light, stylish updates, generous storage, and outdoor living space, this one is not to be missed.

Key facts

• Coveted x flood zone
• New fortified roof
• Large rear deck

Tags

• NEW FORTIFIED ROOF
• SPACIOUS FENCED BACKYARD
• LARGE REAR DECK
• COVETED X FLOOD ZONE

Property features AI

Finance

• Other: Property condition listed as excellent
• Financial info: Not specified
• HOA & community: Not specified

Exterior

• Parking: Driveway; Off-street parking; Three or more parking spaces
• Security: Not specified
• Utilities: Public water; Public sewer
• Home design: 2-story property; Raised foundation
• Construction: Shingle roof; Built in date not specified; Raised foundation
• Exterior features: Fence; Corner lot; City lot; Lot dimensions approximately 64 x 120

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: Not specified
• Flooring: Not specified
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Attic with pull-down attic stairs
• Laundry & utility: Washer hookup; Dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $279k.

Deal economics

• At list price, monthly cash flow is $124 ($1k/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 $239k (14.3% below list).
• Recommended offer: $239k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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.
• Zoned schools: Benjamin Franklin Elem. Math And Science (math 12% / reading 23%, grade F, #479 of 646 statewide, top 75%, 747 students, 98% FRL, charter) — zoned schools average 98% FRL vs 68% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.7%/yr); 265 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,392/mo this rent would consume 66% of the median local household income ($43k/yr) (locally 2240% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 20 days — a 2% lower offer ($275k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 3y 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 $68k; list at $279k implies a 313% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1955 — 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 $239,198 (14.3% below list)

Questions for the listing agent

1. Built in 1955 — 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: 0.86% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.92%
• DSCR: 1.13
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $520,572
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
437 Abalon Ct	0.72mi	3/2.0 (-1)	2,392 (-2%)	3mo	$470,000	$196	54
400 Abalon Ct	0.73mi	4/3.0	2,414 (-1%)	15mo	$515,000	$213	49
449 Abalon Ct	0.73mi	3/3.0 (-1)	2,322 (-5%)	2mo	$510,000	$220	49
407 Abalon Ct	0.74mi	3/2.5 (-1)	2,300 (-6%)	2mo	$502,000	$218	49
524 Atlantic Ave	0.71mi	4/3.5	2,273 (-7%)	17mo	$425,000	$187	37
520 Atlantic Ave	0.73mi	3/2.5 (-1)	2,115 (-14%)	23mo	$430,000	$203	19

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: -16.5%
• Equity multiple: 0.43×
• Total profit: $-44,390
• Equity at exit: $41,600

10-year hold

• IRR: -14.2%
• Equity multiple: 0.29×
• Total profit: $-55,839
• Equity at exit: $24,123

Cash invested: $78,120 (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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,392 high
• Mortgage (P&I): −$1,463
• Tax from tax record: −$120 /mo · $1,439/yr
• Insurance: −$116
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $124

Break-even live

Break-even rent $2,235

Max offer price $279,000

Occupancy floor 90%

Sensitivity live

Price	-10% $282	-5% $203	+0% $124	+5% $45	+10% $-34
Rent	-10% $-65	-5% $29	+0% $124	+5% $218	+10% $313
Rate	-1.0pp $264	-0.5pp $195	base $124	+0.5pp $52	+1.0pp $-22

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	17d	1	0.19mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	25d	1	0.70mi
729 Elmira Ave New Orleans, LA	4.0	2.0	2000	$2,000	$1.00	17d	1	0.71mi
2320 Mardi Gras Blvd New Orleans, LA	4.0	2.5	1600	$2,500	$1.56	3d	1	0.76mi
513 Park Blvd New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	5d	1	0.81mi
1825 Murl St New Orleans, LA	3.0	2.0	2484	$1,750	$0.70	25d	1	0.88mi
249 Vallette St New Orleans, LA	4.0	2.0	1734	$2,500	$1.44	17d	1	1.02mi
3441 Catalina Dr New Orleans, LA	5.0	2.0	1610	$2,450	$1.52	13d	1	1.16mi
639 Desire St New Orleans, LA	3.0	2.5	2687	$5,500	$2.05	21d	1	1.36mi
3400 Royal St New Orleans, LA	4.0	3.5	3300	$6,900	$2.09	45d	1	1.36mi

Listing history 14 events

1. 2026-06-21
   days on market $279,000 Active 20 DOM
2. 2026-06-18
   days on market $279,000 Active 17 DOM
3. 2026-06-17
   days on market $279,000 Active 16 DOM
4. 2026-06-16
   days on market $279,000 Active 15 DOM
5. 2026-06-15
   days on market $279,000 Active 14 DOM
6. 2026-06-13
   pricedays on market $279,000 Active 12 DOM
7. 2026-06-10
   days on market $289,000 Active 9 DOM
8. 2026-06-09
   days on market $289,000 Active 8 DOM
9. 2026-06-08
   days on market $289,000 Active 7 DOM
10. 2026-06-07
    days on market $289,000 Active 6 DOM
11. 2026-06-05
    days on market $289,000 Active 3 DOM
12. 2026-06-03
    days on market $289,000 Active 2 DOM
13. 2026-06-02
    remarks 699-char remark
14. 2026-06-02
    listed $289,000 Active 1 DOM

ⓘ 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: $1,439 · $120/mo
• Projected year-2 tax: $1,534 · $128/mo
• Expected delta: +$96/yr (+$8/mo · 6.6%)

ⓘ 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 · 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,704
• − Mortgage interest: −$15,628
• − Property taxes: −$1,439
• − Insurance: −$2,192
• − Repairs & maintenance: −$2,296
• − Management: −$2,296
• − Depreciation: −$8,116
• Taxable loss: −$3,265
• Est. tax savings @ 24.0%: +$784
• After-tax cash flow: $2,271/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): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% 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: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

+351.6% since first listed

20 events — show timeline

• 2026-06-01 Listed $289,000 AcadianaMLS
• 2026-06-01 Listed $289,000 GSREIN
• 2025-11-14 Sold (Public Records) $70,000 Public Records
• 2025-11-14 Sold (MLS) $67,500 GSREIN
• 2025-11-02 Contingent — GSREIN
• 2025-09-09 Relisted — GSREIN
• 2025-08-19 Contingent — GSREIN
• 2025-07-18 Price Changed $79,000 AcadianaMLS
• 2025-07-18 Price Changed $79,000 GSREIN
• 2025-04-09 Price Changed $99,000 AcadianaMLS
• 2025-04-09 Price Changed $99,000 GSREIN
• 2025-03-18 Listed $109,000 GSREIN
• 2025-03-18 Listed $109,000 AcadianaMLS
• 2023-08-25 Sold (MLS) $60,000 GSREIN
• 2023-07-28 Pending — GSREIN
• 2023-07-12 Relisted — GSREIN
• 2023-06-06 Pending — GSREIN
• 2023-05-22 Listed $64,000 GSREIN
• 2023-05-22 Listed $64,000 AcadianaMLS
• 2023-05-15 Listed $64,000 AcadianaMLS

Property tax history

+1.5%/yr

Latest (2026): $1,439 · +0.0% YoY. Source: county tax records.