2123 Arts St · New Orleans, LA 70117

$139,900

4 bd · 2.0 ba · 1,291 sqft · SingleFamily public records · 33 Days on market

Built 2010 Est $181k · 23% 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 +28.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• 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

This wonderful home has lots to offer. Newly constructed after Katrina in 2010 and renovations in 2017, with granite counter tops in kitchen and bathrooms. Primary bedroom has large walk in closet and is located on the first floor. The reclaimed hardwood floors in the living room, dining area and Primary bedroom, give it that old New Orleans charm. There is a convenient built-in banquette in dining room. Off street parking accomodations are inside a gated yard. This home also features a large workshop/studio in the rear yard with lots of natural light via the floor to ceiling windows. A little TLC will make this St Roch neighborhood property a true gem. Call today to schedule a private viewing.

Key facts

• Off street parking
• Built-in banquette
• Granite counter tops

Tags

• GRANITE COUNTER TOPS
• WALK IN CLOSET
• RECLAIMED HARDWOOD FLOORS
• BUILT-IN BANQUETTE
• OFF STREET PARKING
• GATED YARD

Property features AI

Exterior

• Parking: Driveway; Off-street parking; Two parking spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: 2 stories; Raised foundation; Rebuilt in 2010 and renovated in 2017; Average condition
• Construction: Wood siding; Shingle roof; Raised foundation
• Exterior features: Fence; Porch

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Granite counters
• Bedrooms: Total of 5 rooms (includes bedrooms and living areas)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Central vacuum; Granite counters
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $386 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $1,770/mo this rent would consume 46% of the median local household income ($46k/yr) (locally 1988% 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 $967 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.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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 $33k; list at $140k implies a 324% 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 $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.27% ✓
• Cap rate: 10.18%
• Cash-on-cash: 13.87%
• DSCR: 1.62
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $180,740
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2618 N Rocheblave St	0.17mi	3/2.0 (-1)	1,168 (-10%)	1mo	$115,000	$98	70
1708 Feliciana St	0.57mi	3/2.0 (-1)	1,289 (-0%)	12mo	$170,000	$132	59
1625 Frenchmen St	0.60mi	3/2.0 (-1)	1,252 (-3%)	5mo	$170,000	$136	58
3130 N Tonti St	0.64mi	3/2.0 (-1)	1,252 (-3%)	5mo	$235,000	$188	56
1735 Touro St	0.62mi	4/2.5	1,368 (+6%)	6mo	$186,000	$136	54
1431 Port St	0.52mi	3/2.0 (-1)	1,194 (-8%)	11mo	$210,000	$176	49
2238 Clouet St	0.59mi	3/2.0 (-1)	1,372 (+6%)	10mo	$125,000	$91	49
1431 Clouet St	0.73mi	3/2.0 (-1)	1,404 (+9%)	1mo	$307,000	$219	46
1601 Mandeville St	0.47mi	3/1.0 (-1)	1,118 (-13%)	2mo	$155,000	$139	46
2605 Pauger St	0.65mi	3/2.0 (-1)	1,215 (-6%)	13mo	$170,000	$140	44
3013 Pauger St	0.65mi	3/2.0 (-1)	1,386 (+7%)	10mo	$199,900	$144	44
1871 N Roman St	0.71mi	3/2.0 (-1)	1,415 (+10%)	9mo	$245,000	$173	38

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: 0.7%
• Equity multiple: 1.03×
• Total profit: $1,092
• Equity at exit: $20,860

10-year hold

• IRR: 9.9%
• Equity multiple: 1.75×
• Total profit: $29,192
• Equity at exit: $12,096

Cash invested: $39,172 (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: 6.6×

Monthly cashflow live

• Estimated rent: $1,770 high
• Mortgage (P&I): −$734
• Tax from tax record: −$154 /mo · $1,842/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $386

Break-even live

Break-even rent $1,281

Max offer price $139,900

Occupancy floor 73%

Sensitivity live

Price	-10% $466	-5% $426	+0% $386	+5% $347	+10% $307
Rent	-10% $247	-5% $316	+0% $386	+5% $456	+10% $526
Rate	-1.0pp $457	-0.5pp $422	base $386	+0.5pp $350	+1.0pp $313

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2515 N Galvez St New Orleans, LA	4.0	2.0	1200	$1,200	$1.00	11d	1	0.06mi
2515 N Galvez St Unit 2515 New Orleans, LA	4.0	2.0	1200	$1,900	$1.58	24d	1	0.06mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	16d	1	0.08mi
2522 N Galvez St New Orleans, LA	3.0	2.0	1105	$1,675	$1.52	24d	1	0.09mi
2524 N Galvez St New Orleans, LA	3.0	2.5	1102	$1,800	$1.63	17d	1	0.09mi
2222 Saint Roch Ave New Orleans, LA	3.0	1.0	900	$1,200	$1.33	24d	1	0.14mi
1922 Painters St New Orleans, LA	3.0	1.0	920	$1,700	$1.85	4d	1	0.19mi
1924 Painters St New Orleans, LA	3.0	1.0	920	$1,700	$1.85	4d	1	0.20mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	24d	1	0.24mi
2003 Almonaster Ave New Orleans, LA	3.0	2.0	988	$1,600	$1.62	24d	1	0.26mi
1809 Saint Roch Ave New Orleans, LA	3.0	1.0	949	$1,195	$1.26	17d	1	0.27mi
2519 N Derbigny St New Orleans, LA	3.0	1.0	994	$1,300	$1.31	22d	1	0.33mi
1636 Music St New Orleans, LA	3.0	1.0	900	$1,185	$1.32	16d	1	0.37mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	4d	1	0.38mi
2115 Elysian Fields Ave Unit 2115 New Orleans, LA	3.0	1.0	1100	$1,450	$1.32	24d	1	0.38mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	24d	1	0.42mi
1910 Elysian Fields Ave New Orleans, LA	3.0	1.0	1000	$1,450	$1.45	24d	1	0.47mi
1710 Marigny St New Orleans, LA	3.0	2.0	1120	$1,750	$1.56	24d	1	0.47mi
1601 Marigny St Unit 1603 New Orleans, LA	3.0	2.0	988	$1,099	$1.11	4d	1	0.51mi
1603 Marigny St New Orleans, LA	3.0	2.0	988	$1,099	$1.11	4d	1	0.51mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	24d	1	0.54mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	16d	1	0.54mi
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	24d	1	0.61mi
1226 Port St New Orleans, LA	3.0	1.0	1023	$1,650	$1.61	24d	1	0.68mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	24d	1	0.68mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.71mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.71mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	16d	1	0.74mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	4d	1	0.75mi
1923 N Robertson St New Orleans, LA	3.0	2.0	1051	$1,950	$1.86	4d	1	0.75mi
1942 Piety St New Orleans, LA	3.0	1.0	1100	$1,500	$1.36	24d	1	0.76mi
2152 Abundance St Unit 2152 New Orleans, LA	3.0	2.0	1100	$1,599	$1.45	4d	1	0.78mi
1822 Piety St New Orleans, LA	3.0	1.5	1200	$1,500	$1.25	16d	1	0.78mi
2338 Annette St Unit 1 New Orleans, LA	3.0	1.0	1150	$1,400	$1.22	20d	1	0.78mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	24d	1	0.82mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	44d	1	0.83mi
1904 Desire St New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	11d	1	0.83mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	4d	1	0.86mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	3d	1	0.86mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	4d	2	0.88mi

Listing history 28 events

1. 2026-06-18
   days on market $139,900 Active 33 DOM
2. 2026-06-17
   days on market $139,900 Active 32 DOM
3. 2026-06-16
   days on market $139,900 Active 31 DOM
4. 2026-06-15
   days on market $139,900 Active 30 DOM
5. 2026-06-13
   days on market $139,900 Active 28 DOM
6. 2026-06-10
   days on market $139,900 Active 25 DOM
7. 2026-06-09
   days on market $139,900 Active 24 DOM
8. 2026-06-08
   days on market $139,900 Active 23 DOM
9. 2026-06-07
   days on market $139,900 Active 22 DOM
10. 2026-06-05
    days on market $139,900 Active 19 DOM
11. 2026-06-03
    days on market $139,900 Active 18 DOM
12. 2026-06-02
    days on market $139,900 Active 17 DOM
13. 2026-06-01
    days on market $139,900 Active 16 DOM
14. 2026-05-31
    days on market $139,900 Active 15 DOM
15. 2026-04-25
    listed $139,900 Active

    Show marketing remark (703 chars)

    This wonderful home has lots to offer. Newly constructed after Katrina in 2010 and renovations in 2017, with granite counter tops in kitchen and bathrooms. Primary bedroom has large walk in closet and is located on the first floor. The reclaimed hardwood floors in the living room, dining area and Primary bedroom, give it that old New Orleans charm. There is a convenient built-in banquette in dining room. Off street parking accomodations are inside a gated yard. This home also features a large workshop/studio in the rear yard with lots of natural light via the floor to ceiling windows. A little TLC will make this St Roch neighborhood property a true gem. Call today to schedule a private viewing.

16. 2026-04-25
    listed $139,900 Active 703-char remark

    Show marketing remark (703 chars)

    This wonderful home has lots to offer. Newly constructed after Katrina in 2010 and renovations in 2017, with granite counter tops in kitchen and bathrooms. Primary bedroom has large walk in closet and is located on the first floor. The reclaimed hardwood floors in the living room, dining area and Primary bedroom, give it that old New Orleans charm. There is a convenient built-in banquette in dining room. Off street parking accomodations are inside a gated yard. This home also features a large workshop/studio in the rear yard with lots of natural light via the floor to ceiling windows. A little TLC will make this St Roch neighborhood property a true gem. Call today to schedule a private viewing.

17. 2026-02-16
    price $145,000
18. 2026-02-16
    price $145,000
19. 2025-11-29
    price $159,500
20. 2025-11-11
    price $159,500
21. 2025-08-12
    price $180,000
22. 2025-08-12
    price $180,000
23. 2025-04-18
    price $199,900
24. 2025-04-18
    price $199,900
25. 2024-10-17
    listed $210,000 Active
26. 2004-07-02
    soldstatus $33,000
27. 2004-05-27
    listed $47,000
28. 2004-05-27
    listed $47,000

ⓘ 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: $1,842 · $154/mo
• Projected year-2 tax: $1,842 · $154/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) · 74% 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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,240
• − Mortgage interest: −$7,837
• − Property taxes: −$1,842
• − Insurance: −$1,497
• − Repairs & maintenance: −$1,699
• − Management: −$1,699
• − Depreciation: −$4,070
• Taxable income: $2,596
• Est. tax owed @ 24.0%: −$623
• After-tax cash flow: $4,014/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

+197.7% since first listed

14 events — show timeline

• 2026-04-25 Listed $139,900 AcadianaMLS
• 2026-04-25 Listed $139,900 GSREIN
• 2026-02-16 Price Changed $145,000 AcadianaMLS
• 2026-02-16 Price Changed $145,000 GSREIN
• 2025-11-29 Price Changed $159,500 AcadianaMLS
• 2025-11-11 Price Changed $159,500 GSREIN
• 2025-08-12 Price Changed $180,000 AcadianaMLS
• 2025-08-12 Price Changed $180,000 GSREIN
• 2025-04-18 Price Changed $199,900 AcadianaMLS
• 2025-04-18 Price Changed $199,900 GSREIN
• 2024-10-17 Listed $210,000 AcadianaMLS
• 2004-07-02 Sold (MLS) $33,000 GSREIN
• 2004-05-27 Listed $47,000 AcadianaMLS
• 2004-05-27 Listed $47,000 GSREIN

Property tax history

+20.1%/yr

Latest (2026): $1,842 · +1.1% YoY. Source: county tax records.