1835 Painters St · New Orleans, LA 70117

$120,000

2 bd · 1.0 ba · 1,132 sqft · SingleFamily public records · 121 Days on market

Built 1930 2,435 sqft lot $106/sqft · 35% below area Est $183k · 35% 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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +7.5/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location, MOTIVATED SELLER! This charming 2-bedroom, 1-bath home offers comfort and convenience, just minutes from I-10 and 610 for an easy commute. The property comes complete with appliances.

Key facts

• Great location
• Easy commute
• 2,435 sq ft lot

Tags

• GREAT LOCATION
• EASY COMMUTE
• COMPLETE WITH APPLIANCES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 rising (+2.5%/yr); 587 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 39% of the median local income ($46k/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 $830 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

• It's been on market 121 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y 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 $66/mo; built in 1930 — 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 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 1930 — 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 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: 1.25% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.77%
• DSCR: 1.52
• GRM: 6.7

CMA / ARV

• ARV (median comp): $183,387
• List price: $120,000
• Delta: -34.56%
• 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
1601 Mandeville St	0.38mi	3/1.0 (+1)	1,118 (-1%)	2mo	$155,000	$139	74
2623 N Villere	0.34mi	2/1.0	1,078 (-5%)	6mo	$95,000	$88	71
2618 N Rocheblave St	0.38mi	3/2.0 (+1)	1,168 (+3%)	1mo	$115,000	$98	67
3120 Urquhart St	0.63mi	3/1.0 (+1)	1,134 (+0%)	1mo	$90,000	$79	64
2215 Mandeville St	0.43mi	3/2.0 (+1)	1,067 (-6%)	3mo	$85,000	$80	59
1644 Desire St	0.67mi	3/1.0 (+1)	1,100 (-3%)	8mo	$135,000	$123	52
1014 Music St	0.60mi	2/2.0	1,214 (+7%)	5mo	$269,000	$222	52
2320 Marais St	0.58mi	2/2.0	1,280 (+13%)	5mo	$250,000	$195	43
1625 Frenchmen St	0.58mi	3/2.0 (+1)	1,252 (+11%)	5mo	$170,000	$136	42
3130 N Tonti St	0.59mi	3/2.0 (+1)	1,252 (+11%)	5mo	$235,000	$188	42
3221 N Miro St	0.66mi	3/2.0 (+1)	1,030 (-9%)	9mo	$72,000	$70	38
1311 Frenchmen St	0.68mi	3/2.0 (+1)	1,300 (+15%)	7mo	$225,000	$173	28

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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.90×
• Total profit: $-3,371
• Equity at exit: $17,892

10-year hold

• IRR: 6.5%
• Equity multiple: 1.47×
• Total profit: $15,859
• Equity at exit: $10,375

Cash invested: $33,600 (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 70117

• Rents YoY: 2.5%
• Active inventory: 587
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,498 high
• Mortgage (P&I): −$629
• Tax from tax record: −$175 /mo · $2,097/yr
• Insurance: −$50
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $263

Break-even live

Break-even rent $1,165

Max offer price $120,000

Occupancy floor 77%

Sensitivity live

Price	-10% $331	-5% $297	+0% $263	+5% $229	+10% $195
Rent	-10% $145	-5% $204	+0% $263	+5% $322	+10% $382
Rate	-1.0pp $324	-0.5pp $294	base $263	+0.5pp $232	+1.0pp $200

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1924 Painters St New Orleans, LA	3.0	1.0	920	$1,700	$1.85	4d	1	0.04mi
1922 Painters St New Orleans, LA	3.0	1.0	920	$1,700	$1.85	4d	1	0.06mi
2516 N Roman St Unit 2518 New Orleans, LA	2.0	1.0	800	$1,500	$1.88	4d	1	0.10mi
2519 N Derbigny St New Orleans, LA	3.0	1.0	994	$1,300	$1.31	22d	1	0.13mi
2003 Almonaster Ave New Orleans, LA	3.0	2.0	988	$1,600	$1.62	24d	1	0.14mi
2524 N Galvez St New Orleans, LA	3.0	2.5	1102	$1,800	$1.63	18d	1	0.15mi
2522 N Galvez St New Orleans, LA	3.0	2.0	1105	$1,675	$1.52	24d	1	0.15mi
1809 Saint Roch Ave New Orleans, LA	3.0	1.0	949	$1,195	$1.26	18d	1	0.19mi
2010 Saint Ferdinand St New Orleans, LA	2.0	1.0	909	$1,650	$1.82	24d	1	0.21mi
1638 Music St New Orleans, LA	2.0	1.0	900	$1,085	$1.21	15d	1	0.22mi
1636 Music St New Orleans, LA	3.0	1.0	900	$1,185	$1.32	17d	1	0.23mi
2238 Painters St New Orleans, LA	2.0	1.0	896	$1,300	$1.45	24d	1	0.29mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	17d	1	0.29mi
2219 Almonaster Ave Unit A New Orleans, LA	2.0	1.0	950	$1,500	$1.58	24d	1	0.30mi
2241 Eads St New Orleans, LA	2.0	1.0	867	$1,500	$1.73	24d	1	0.31mi
2120 Saint Roch Ave Unit 2120 New Orleans, LA	2.0	1.0	1000	$1,650	$1.65	24d	1	0.31mi
2551 N Tonti St New Orleans, LA	2.0	2.0	800	$1,450	$1.81	24d	1	0.32mi
2134 Saint Roch Ave New Orleans, LA	2.0	2.0	850	$1,500	$1.76	18d	1	0.32mi
2229 Saint Roch Ave New Orleans, LA	2.0	1.5	1200	$1,600	$1.33	21d	1	0.34mi
1905 Montegut St New Orleans, LA	2.0	1.5	870	$1,275	$1.47	24d	1	0.35mi
2129 Spain St New Orleans, LA	2.0	1.0	861	$1,500	$1.74	24d	1	0.35mi
2222 Saint Roch Ave New Orleans, LA	3.0	1.0	900	$1,200	$1.33	24d	1	0.36mi
2649 N Rocheblave St New Orleans, LA	2.0	2.0	806	$1,200	$1.49	24d	1	0.37mi
2269 N Prieur St New Orleans, LA	2.0	1.0	756	$1,250	$1.65	24d	1	0.38mi
1726 Mandeville St New Orleans, LA	2.0	1.0	920	$1,300	$1.41	24d	1	0.39mi
2024 Mandeville St New Orleans, LA	2.0	2.0	1072	$1,950	$1.82	24d	1	0.39mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	24d	1	0.39mi
2269 N Derbigny St New Orleans, LA	2.0	2.0	1000	$1,665	$1.67	18d	1	0.40mi
2269 N Derbigny St New Orleans, LA	2.0	2.0	1000	$1,675	$1.68	20d	1	0.40mi
2271 N Derbigny St New Orleans, LA	2.0	2.0	1000	$1,585	$1.58	18d	1	0.40mi
2625 Urquhart St New Orleans, LA	2.0	1.0	810	$1,100	$1.36	18d	1	0.42mi
2027 Feliciana St New Orleans, LA	2.0	1.0	1104	$1,100	$1.00	17d	1	0.43mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	24d	1	0.43mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	17d	1	0.43mi
2406 Saint Roch Ave New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	18d	1	0.45mi
2123 Marigny St New Orleans, LA	1.0	1.0	700	$1,000	$1.43	4d	1	0.45mi
2423 Saint Roch Ave New Orleans, LA	2.0	1.0	925	$1,350	$1.46	24d	1	0.45mi
1601 Marigny St Unit 1603 New Orleans, LA	3.0	2.0	988	$1,099	$1.11	4d	1	0.46mi
1603 Marigny St New Orleans, LA	3.0	2.0	988	$1,099	$1.11	4d	1	0.46mi
1710 Marigny St New Orleans, LA	3.0	2.0	1120	$1,750	$1.56	24d	1	0.46mi

Listing history 23 events

1. 2026-06-21
   days on market $120,000 Active 121 DOM
2. 2026-06-18
   days on market $120,000 Active 118 DOM
3. 2026-06-17
   days on market $120,000 Active 117 DOM
4. 2026-06-16
   days on market $120,000 Active 116 DOM
5. 2026-06-15
   days on market $120,000 Active 115 DOM
6. 2026-06-13
   days on market $120,000 Active 113 DOM
7. 2026-06-10
   days on market $120,000 Active 110 DOM
8. 2026-06-09
   days on market $120,000 Active 109 DOM
9. 2026-06-08
   days on market $120,000 Active 108 DOM
10. 2026-06-07
    days on market $120,000 Active 107 DOM
11. 2026-06-05
    days on market $120,000 Active 104 DOM
12. 2026-06-03
    days on market $120,000 Active 103 DOM
13. 2026-06-02
    days on market $120,000 Active 102 DOM
14. 2026-06-01
    days on market $120,000 Active 101 DOM
15. 2026-05-31
    days on market $120,000 Active 100 DOM
16. 2026-02-20
    listed $120,000 Active 199-char remark

    Show marketing remark (199 chars)

    Great location, MOTIVATED SELLER! This charming 2-bedroom, 1-bath home offers comfort and convenience, just minutes from I-10 and 610 for an easy commute. The property comes complete with appliances.

17. 2026-02-20
    listed $120,000 Active 199-char remark

    Show marketing remark (199 chars)

    Great location, MOTIVATED SELLER! This charming 2-bedroom, 1-bath home offers comfort and convenience, just minutes from I-10 and 610 for an easy commute. The property comes complete with appliances.

18. 2026-02-18
    listed $1,300
19. 2026-02-14
    historical $1,300
20. 2025-11-08
    listed $120,000 Active
21. 2025-10-27
    listed $1,300
22. 2024-04-09
    historical $1,250
23. 2024-01-19
    listed $1,250

ⓘ 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: $2,097 · $175/mo
• Projected year-2 tax: $2,097 · $175/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 ≥108°F today · 22 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: $17,980
• − Mortgage interest: −$6,722
• − Property taxes: −$2,097
• − Insurance: −$1,398
• − Repairs & maintenance: −$1,438
• − Management: −$1,438
• − Depreciation: −$3,491
• Taxable income: $1,396
• Est. tax owed @ 24.0%: −$335
• After-tax cash flow: $2,823/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): 25,652
• Household income: $45,764
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1988.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 30% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 5% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -177.22%
• Current HPI: 184.6061
• Rent YoY: ▲ 2.49%
• 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

+9500.0% since first listed

8 events — show timeline

• 2026-02-20 Listed $120,000 AcadianaMLS
• 2026-02-20 Listed $120,000 GSREIN
• 2026-02-18 Listed for Rent $1,300 RAAMLS
• 2026-02-14 Rental Removed $1,300 GSREIN
• 2025-11-08 Listed $120,000 AcadianaMLS
• 2025-10-27 Listed for Rent $1,300 GSREIN
• 2024-04-09 Rental Removed $1,250 GSREIN
• 2024-01-19 Listed for Rent $1,250 GSREIN

Property tax history

+31.5%/yr

Latest (2026): $2,097 · +1.1% YoY. Source: county tax records.