1133-35 Belleville St · New Orleans, LA 70114

$215,000

4 bd · 2.0 ba · 1,582 sqft · MultiFamily public records · 148 Days on market

Built 1960 3,841 sqft lot $136/sqft · 35% above area Est $159k · 35% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Income producing 4 bedroom/2 bathroom double in Algiers. Original wood floors, freshly painted with a fenced in backyard. Close to the Crescent City Connection and Algiers Point.

Key facts

• Fenced in backyard
• Original wood floors
• 3,841 sq ft lot

Tags

• ORIGINAL WOOD FLOORS
• FENCED IN BACKYARD
• CLOSE TO ALGIERS POINT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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 soft (-0.7%/yr); 265 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $2,927/mo this rent would consume 81% 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 $1k of loan paydown is wiped out by about $6k 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 148 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 21 sale attempts since 31y 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.

Risks & watch-outs

• Watch-outs: 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 $189,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 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 1960 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.36% ✓
• Cap rate: 11.28%
• Cash-on-cash: 17.80%
• DSCR: 1.79
• GRM: 6.1

CMA / ARV

• ARV (median comp): $158,965
• List price: $215,000
• Delta: 35.25%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
321 Diana St	0.23mi	4/2.0	1,634 (+3%)	8mo	$216,600	$133	77
1427 De Armas St	0.43mi	4/2.0	1,600 (+1%)	3mo	$80,000	$50	75
904 06 Vallette St	0.19mi	4/2.0	1,788 (+13%)	4mo	$165,000	$92	66
505 07 Seguin St	0.55mi	4/2.0	1,657 (+5%)	10mo	$299,000	$180	59
538-40 Verret St	0.45mi	4/2.0	1,716 (+8%)	12mo	$349,000	$203	55
612/614 Wagner St	0.68mi	4/2.0	1,617 (+2%)	13mo	$317,500	$196	54
841 Elmira Ave	0.23mi	3/3.0 (-1)	1,500 (-5%)	22mo	$214,000	$143	54
618-20 Seguin St	0.46mi	4/4.0	1,649 (+4%)	13mo	$392,800	$238	53
542 Wagner St	0.70mi	4/2.0	1,596 (+1%)	20mo	$60,000	$38	50
1031 33 Nunez St	0.16mi	4/1.0	1,352 (-14%)	21mo	$107,500	$80	47
511 13 Pelican Ave	0.62mi	3/2.0 (-1)	1,776 (+12%)	1mo	$345,000	$194	45
733 Whitney Ave	0.54mi	3/3.0 (-1)	1,500 (-5%)	22mo	$144,000	$96	39

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: -6.3%
• Equity multiple: 0.78×
• Total profit: $-13,452
• Equity at exit: $32,057

10-year hold

• IRR: -1.6%
• Equity multiple: 0.91×
• Total profit: $-5,543
• Equity at exit: $18,589

Cash invested: $60,200 (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: 12.2×

Monthly cashflow live

• Estimated rent: $2,927 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$202 /mo · $2,429/yr
• Insurance: −$90
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$615
• Net cashflow: $466

Break-even live

Break-even rent $2,337

Max offer price $215,000

Occupancy floor 79%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,928
Total (2 units)			$2,927

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
606 Drum St New Orleans, LA	3.0	2.0	1131	$2,350	$2.08	23d	1	0.04mi
1140 Teche St Apt B New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	23d	1	0.18mi
433 Homer St Unit 1 New Orleans, LA	4.0	2.0	1570	$1,850	$1.18	23d	1	0.21mi
718 Majestic Pl New Orleans, LA	3.0	2.0	1164	$1,785	$1.53	21d	1	0.24mi
729 Elmira Ave New Orleans, LA	4.0	2.0	2000	$2,000	$1.00	15d	1	0.29mi
513 Park Blvd New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	3d	1	0.31mi
400 Park Blvd Unit A New Orleans, LA	4.0	1.5	1275	$2,200	$1.73	23d	1	0.32mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	23d	1	0.48mi
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	3d	1	0.53mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	23d	1	0.59mi
325 Elmira Ave Unit 325 New Orleans, LA	3.0	1.5	1050	$1,525	$1.45	23d	1	0.61mi
249 Vallette St New Orleans, LA	4.0	2.0	1734	$2,500	$1.44	15d	1	0.65mi
1108 Sumner St New Orleans, LA	3.0	1.5	1197	$1,500	$1.25	11d	1	0.68mi
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	15d	1	0.71mi
119 Vallette St New Orleans, LA	3.0	2.5	1500	$2,100	$1.40	23d	1	0.73mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	3d	1	0.78mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	43d	1	0.93mi
1684 Lauradale Dr New Orleans, LA	4.0	2.0	1571	$2,000	$1.27	23d	1	1.10mi
1050 Annunciation St Unit 1272355P New Orleans, LA	2.0–5.0	2.0–4.0	1544	$3,489	$2.26	3d	3	1.14mi
2320 Mardi Gras Blvd New Orleans, LA	4.0	2.5	1600	$2,500	$1.56	1d	1	1.17mi
431 Gravier St Ste 4 New Orleans, LA	3.0	2.0	2100	$3,700	$1.76	43d	1	1.18mi
535 Decatur St Unit 3 New Orleans, LA	3.0	2.0	1600	$2,800	$1.75	11d	1	1.21mi
515 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1644	$3,600	$2.19	44d	1	1.25mi
527 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1687	$3,500	$2.07	43d	1	1.26mi
751 Chartres St New Orleans, LA	2.0–3.0	2.0	1461	$3,450	$2.36	43d	1	1.30mi
1420 Annunciation St New Orleans, LA	1.0–3.0	1.0–2.0	1019	$2,390	$2.35	1d	78	1.33mi
800 Gravier St Unit 1272312P New Orleans, LA	2.0–4.0	2.0–4.0	1673	$6,169	$3.69	14d	2	1.38mi
1417 Annunciation St Unit 1417 New Orleans, LA	3.0	2.0	1200	$1,996	$1.66	21d	1	1.38mi
1719 Pace Blvd New Orleans, LA	3.0	1.0	1178	$2,000	$1.70	11d	1	1.39mi
1501 Clio St Unit 1A New Orleans, LA	3.0	2.0	1200	$2,800	$2.33	11d	1	1.43mi
921 Race St Unit C New Orleans, LA	3.0	2.0	1570	$3,000	$1.91	10d	1	1.45mi
632 Mandeville St Unit 2B New Orleans, LA	4.0	4.5	1337	$4,500	$3.37	16d	1	1.45mi
1774 Pace Blvd New Orleans, LA	4.0	2.5	1574	$2,000	$1.27	23d	1	1.45mi
810 Bienville St New Orleans, LA	1.0–3.0	1.0–2.0	995	$2,688	$2.70	3d	9	1.45mi
822 Perdido St Unit 1272370P New Orleans, LA	1.0–5.0	1.0–5.0	1447	$5,974	$4.13	3d	4	1.46mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	1d	1	1.47mi
734 Ursulines Ave New Orleans, LA	3.0	2.0	1340	$2,800	$2.09	43d	1	1.47mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	23d	1	1.48mi
1418 Royal St Unit 1418 New Orleans, LA	4.0	2.0	1300	$2,450	$1.88	23d	1	1.49mi
882 Montegut St New Orleans, LA	1.0–3.0	1.0–2.0	826	$2,575	$3.12	43d	7	1.50mi

Listing history 50 events

1. 2026-06-18
   days on market $215,000 Active 148 DOM
2. 2026-06-17
   days on market $215,000 Active 147 DOM
3. 2026-06-16
   days on market $215,000 Active 146 DOM
4. 2026-06-15
   days on market $215,000 Active 145 DOM
5. 2026-06-13
   days on market $215,000 Active 143 DOM
6. 2026-06-10
   days on market $215,000 Active 140 DOM
7. 2026-06-09
   days on market $215,000 Active 139 DOM
8. 2026-06-08
   days on market $215,000 Active 138 DOM
9. 2026-06-07
   days on market $215,000 Active 137 DOM
10. 2026-06-05
    days on market $215,000 Active 134 DOM
11. 2026-06-03
    days on market $215,000 Active 133 DOM
12. 2026-06-02
    days on market $215,000 Active 132 DOM
13. 2026-06-01
    days on market $215,000 Active 131 DOM
14. 2026-05-31
    days on market $215,000 Active 130 DOM
15. 2026-01-21
    listed $215,000 Active 178-char remark

    Show marketing remark (178 chars)

    Income producing 4 bedroom/2 bathroom double in Algiers. Original wood floors, freshly painted with a fenced in backyard. Close to the Crescent City Connection and Algiers Point.

16. 2026-01-21
    listed $215,000 Active 178-char remark

    Show marketing remark (178 chars)

    Income producing 4 bedroom/2 bathroom double in Algiers. Original wood floors, freshly painted with a fenced in backyard. Close to the Crescent City Connection and Algiers Point.

17. 2025-08-04
    price $215,000
18. 2025-08-04
    price $215,000
19. 2025-07-31
    historical $1,250
20. 2025-06-03
    listed $1,250
21. 2025-06-02
    listed $220,000 Active
22. 2024-05-02
    historical $1,250
23. 2024-03-12
    listed $1,250
24. 2024-01-11
    soldstatus $200,000
25. 2024-01-08
    historical Active Under Contract
26. 2024-01-05
    soldstatus $200,000 Closed
27. 2023-12-10
    status Active
28. 2023-12-03
    historical Active Under Contract
29. 2023-11-16
    status Active
30. 2023-10-10
    historical Active Under Contract
31. 2023-08-16
    listed $220,000 Active
32. 2023-08-16
    listed $220,000
33. 2023-06-12
    listed $220,000
34. 2015-03-27
    soldstatus $130,000
35. 2014-03-27
    listed $135,000
36. 2009-09-14
    listed $125,000
37. 2009-09-14
    listed $125,000
38. 2004-05-28
    soldstatus $58,000
39. 2004-05-05
    listed $65,000
40. 2004-05-05
    listed $65,000
41. 2000-09-11
    soldstatus $55,000
42. 2000-03-31
    soldstatus $29,000
43. 1999-06-30
    listed $32,000
44. 1999-06-30
    listed $32,000
45. 1996-08-15
    soldstatus $8,000
46. 1996-04-21
    listed $15,000
47. 1996-04-21
    listed $15,000
48. 1996-01-15
    soldstatus $17,000
49. 1995-11-16
    listed $29,900
50. 1995-11-16
    listed $29,900

ⓘ 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: $2,429 · $202/mo
• Projected year-2 tax: $2,429 · $202/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 · 75% 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: $35,124
• − Mortgage interest: −$12,043
• − Property taxes: −$2,429
• − Insurance: −$6,194
• − Repairs & maintenance: −$2,810
• − Management: −$2,810
• − Depreciation: −$6,255
• Taxable income: $2,584
• Est. tax owed @ 24.0%: −$620
• After-tax cash flow: $4,976/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

+619.1% since first listed

36 events — show timeline

• 2026-01-21 Listed $215,000 AcadianaMLS
• 2026-01-21 Listed $215,000 GSREIN
• 2025-08-04 Price Changed $215,000 AcadianaMLS
• 2025-08-04 Price Changed $215,000 GSREIN
• 2025-07-31 Rental Removed $1,250 GSREIN
• 2025-06-03 Listed for Rent $1,250 GSREIN
• 2025-06-02 Listed $220,000 AcadianaMLS
• 2024-05-02 Rental Removed $1,250 GSREIN
• 2024-03-12 Listed for Rent $1,250 GSREIN
• 2024-01-11 Sold (Public Records) $200,000 Public Records
• 2024-01-08 Contingent — GSREIN
• 2024-01-05 Sold (MLS) $200,000 GSREIN
• 2023-12-10 Relisted — GSREIN
• 2023-12-03 Contingent — GSREIN
• 2023-11-16 Relisted — GSREIN
• 2023-10-10 Contingent — GSREIN
• 2023-08-16 Listed $220,000 AcadianaMLS
• 2023-08-16 Listed $220,000 GSREIN
• 2023-06-12 Listed $220,000 AcadianaMLS
• 2015-03-27 Sold (Public Records) $130,000 Public Records
• 2014-03-27 Listed $135,000 AcadianaMLS
• 2009-09-14 Listed $125,000 GSREIN
• 2009-09-14 Listed $125,000 AcadianaMLS
• 2004-05-28 Sold (MLS) $58,000 GSREIN
• 2004-05-05 Listed $65,000 GSREIN
• 2004-05-05 Listed $65,000 AcadianaMLS
• 2000-09-11 Sold (Public Records) $55,000 Public Records
• 2000-03-31 Sold (MLS) $29,000 GSREIN
• 1999-06-30 Listed $32,000 GSREIN
• 1999-06-30 Listed $32,000 AcadianaMLS
• 1996-08-15 Sold (MLS) $8,000 GSREIN
• 1996-04-21 Listed $15,000 AcadianaMLS
• 1996-04-21 Listed $15,000 GSREIN
• 1996-01-15 Sold (MLS) $17,000 GSREIN
• 1995-11-16 Listed $29,900 AcadianaMLS
• 1995-11-16 Listed $29,900 GSREIN

Property tax history

+6.4%/yr

Latest (2026): $2,429 · +0.0% YoY. Source: county tax records.