608 Tupelo St · New Orleans, LA 70117

$140,000

2 bd · 1.0 ba · 660 sqft · SingleFamily public records · 19 Days on market

Built 1960 2,591 sqft lot Est $131k · 7% over

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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 +16.5/30.0
• DSCR +5.1/10.0
• ARV discount +4.5/15.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• 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

Charming Holy Cross shotgun home offering classic New Orleans character with modern-day convenience. This 2-bedroom, 1-bath single-family residence features 660 sq ft of efficient living space, in one of the city's most historic and vibrant neighborhoods. Shotgun homes are a beloved part of New Orleans architecture, known for their airy, open flow and timeless appeal. This layout maximizes every square foot while maintaining a cozy, functional feel--homeowners or investors alike. The property includes a private driveway, a valuable amenity in the area, along with a small yard that provides just the right amount of outdoor space for relaxing or entertaining. Inside, window units offer flexible cooling, and washer/dryer hookups add everyday convenience. Located in the desirable Holy Cross neighborhood, this home is surrounded by rich history, unique architecture, and a strong sense of community--all just minutes from the Mississippi River and downtown New Orleans. Whether you're looking for a primary residence, rental investment, or a quintessential New Orleans getaway, this shotgun home delivers charm, efficiency, and location. Sold as is

Key facts

• Private driveway
• Washer dryer hookups
• Small yard

Tags

• PRIVATE DRIVEWAY
• SMALL YARD
• WASHER DRYER HOOKUPS

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Single-story; Raised foundation
• Construction: Shingle roof
• Exterior features: City lot; Rectangular lot; Lot dimensions approximately 24 x 108

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Window unit(s) for cooling; Window unit heating
• Interior features: Total of 5 rooms; Average condition
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $16 ($189/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 $123k (12.4% below list).
• Recommended offer: $123k (12.4% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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); 581 active listings in the ZIP; 19 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).
• This rent runs 32% 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 $968 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 19 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $8k; list at $140k implies a 1767% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,689 (12.4% below list)

Questions for the listing agent

1. Built in 1960 — 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. 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?
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: 0.88% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.52%
• DSCR: 1.11
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $131,340
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
421 Tupelo St	0.11mi	2/1.0	635 (-4%)	5mo	$126,500	$199	85
1409 Delery St	0.63mi	2/1.0	648 (-2%)	10mo	$40,000	$62	59
5118 N Rampart St	0.61mi	1/1.0 (-1)	710 (+8%)	1mo	$195,000	$275	53
1311 Delery St	0.56mi	2/1.0	725 (+10%)	8mo	$90,000	$124	51
7 Alice Ct	0.54mi	2/1.0	738 (+12%)	7mo	$45,000	$61	50
411 Lebeau St	0.69mi	2/1.0	731 (+11%)	4mo	$194,000	$265	46

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: -16.1%
• Equity multiple: 0.43×
• Total profit: $-22,297
• Equity at exit: $20,874

10-year hold

• IRR: -8.6%
• Equity multiple: 0.47×
• Total profit: $-20,626
• Equity at exit: $12,105

Cash invested: $39,200 (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 70117

• Rents YoY: 2.5%
• Active inventory: 581
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,227 high
• Mortgage (P&I): −$734
• Tax from tax record: −$94 /mo · $1,134/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $16

Break-even live

Break-even rent $1,207

Max offer price $140,000

Occupancy floor 94%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
637 Tupelo St New Orleans, LA	1.0	1.0	663	$1,100	$1.66	23d	1	0.09mi
6310 Douglas St New Orleans, LA	1.0	1.0	400	$1,100	$2.75	23d	1	0.18mi
1030 Gordon St New Orleans, LA	2.0	1.0	675	$1,200	$1.78	3d	1	0.35mi
1030 Gordon St New Orleans, LA	2.0	1.0	675	$1,200	$1.78	3d	1	0.35mi
1030 Gordon St New Orleans, LA	2.0	1.0	675	$12,000	$17.78	43d	1	0.35mi
505 Andry St Unit C New Orleans, LA	1.0	1.0	490	$900	$1.84	23d	1	0.38mi
1028 Fats Domino Ave Unit B New Orleans, LA	1.0	1.0	460	$900	$1.96	23d	1	0.41mi
1015 Government St Unit 11 Arabi, LA	2.0	1.0	720	$999	$1.39	43d	1	0.49mi
4950 Dauphine St New Orleans, LA	1.0	1.0	612	$1,750	$2.86	10d	16	0.69mi
924 Deslonde St Unit B New Orleans, LA	2.0	1.0	658	$1,250	$1.90	23d	1	0.80mi
4824 N Rampart St New Orleans, LA	2.0	1.0	606	$1,450	$2.39	3d	1	0.81mi
4824 N Rampart St New Orleans, LA	2.0	1.0	606	$1,450	$2.39	23d	1	0.81mi
4421 Burgundy St Unit 103 New Orleans, LA	1.0	1.0	495	$1,250	$2.53	23d	1	1.17mi
4545 Urquhart St Unit B New Orleans, LA	2.0	1.0	700	$1,150	$1.64	23d	1	1.20mi
4543 Urquhart St Unit B New Orleans, LA	2.0	1.0	700	$1,150	$1.64	11d	1	1.20mi
4318 N Rampart St New Orleans, LA	2.0	1.0	750	$1,100	$1.47	23d	1	1.25mi
7616 W Judge Perez Dr Unit B Arabi, LA	2.0	1.0	750	$1,200	$1.60	3d	1	1.36mi
7616 W Judge Perez Dr Unit A Arabi, LA	1.0	1.0	550	$1,000	$1.82	43d	1	1.36mi
3900 Royal St Unit 1B New Orleans, LA	1.0	1.0	690	$1,650	$2.39	23d	1	1.48mi

Listing history 15 events

1. 2026-06-18
   days on market $140,000 Active 19 DOM
2. 2026-06-17
   days on market $140,000 Active 18 DOM
3. 2026-06-16
   days on market $140,000 Active 17 DOM
4. 2026-06-15
   days on market $140,000 Active 16 DOM
5. 2026-06-13
   days on market $140,000 Active 14 DOM
6. 2026-06-10
   days on market $140,000 Active 11 DOM
7. 2026-06-09
   days on market $140,000 Active 10 DOM
8. 2026-06-08
   days on market $140,000 Active 9 DOM
9. 2026-06-07
   days on market $140,000 Active 8 DOM
10. 2026-06-05
    days on market $140,000 Active 5 DOM
11. 2026-06-03
    days on market $140,000 Active 4 DOM
12. 2026-06-02
    days on market $140,000 Active 3 DOM
13. 2026-06-01
    days on market $140,000 Active 2 DOM
14. 2026-05-31
    remarks 687-char remark
15. 2026-05-31
    listed $140,000 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: $1,134 · $94/mo
• Projected year-2 tax: $1,134 · $94/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: $14,723
• − Mortgage interest: −$7,842
• − Property taxes: −$1,134
• − Insurance: −$1,498
• − Repairs & maintenance: −$1,178
• − Management: −$1,178
• − Depreciation: −$4,073
• Taxable loss: −$2,179
• Est. tax savings @ 24.0%: +$523
• After-tax cash flow: $712/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

+1766.7% since first listed

3 events — show timeline

• 2026-05-30 Listed $140,000 AcadianaMLS
• 2026-05-30 Listed $140,000 GSREIN
• 1996-08-20 Sold (Public Records) $7,500 Public Records

Property tax history

+2.0%/yr

Latest (2026): $1,134 · +1.0% YoY. Source: county tax records.