3064 Law St · New Orleans, LA 70117

$113,000

3 bd · 1.0 ba · 1,071 sqft · SingleFamily public records · 128 Days on market

Built 2008 $106/sqft · 11% below area Est $143k · 21% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• 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 adorable modern style shotgun home is located in upper ninth ward on a corner lot, just minutes from downtown, French Quarter and vibrant conveniences. This home features 3 privates bedrooms accessible through a long gallery hallway, living room, kitchen and bath. This home also offers a charming porch overlooking a landscaped front yard and has a large backyard that is ready for cookouts and entertaining. This is a fantastic opportunity for renovation to make it your dream home or investment property.

Key facts

• Charming porch
• Large backyard
• Corner lot

Tags

• CORNER LOT
• LANDSCAPED FRONT YARD
• LARGE BACKYARD
• CHARMING PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $113k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $113k).
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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); 587 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 41% 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 $781 of loan paydown is wiped out by about $3k 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 128 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $18k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $113k implies a 51% gain — meaningful room to come down on a strong offer.

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 $99,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.39% ✓
• Cap rate: 11.97%
• Cash-on-cash: 20.29%
• DSCR: 1.90
• GRM: 6.0

CMA / ARV

• ARV (median comp): $142,571
• List price: $113,000
• Delta: -20.74%
• 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
3319 N Dorgenois St	0.21mi	3/1.0	1,024 (-4%)	7mo	$75,500	$74	77
2519 Desire St	0.25mi	3/1.0	1,023 (-4%)	11mo	$136,000	$133	72
2213 Piety St	0.31mi	3/1.0	1,034 (-4%)	13mo	$115,000	$111	68
3221 N Miro St	0.31mi	3/2.0	1,030 (-4%)	9mo	$72,000	$70	68
3137 N Miro St	0.28mi	2/1.5 (-1)	1,034 (-4%)	11mo	$42,500	$41	65
2401 Independence St	0.42mi	3/1.0	1,100 (+3%)	15mo	$135,000	$123	64
1901 Montegut St	0.51mi	3/1.0	1,054 (-2%)	14mo	$135,000	$128	62
1644 Desire St	0.69mi	3/1.0	1,100 (+3%)	8mo	$135,000	$123	56
2413 Bartholomew St	0.57mi	2/1.0 (-1)	1,023 (-4%)	13mo	$28,105	$27	50
1816 Congress St	0.64mi	2/2.0 (-1)	1,043 (-3%)	12mo	$135,000	$129	47
2618 N Rocheblave St	0.71mi	3/2.0	1,168 (+9%)	1mo	$115,000	$98	47
2037 Mazant St	0.73mi	3/2.0	1,100 (+3%)	13mo	$160,000	$145	47

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: -10.4%
• Equity multiple: 0.62×
• Total profit: $-11,968
• Equity at exit: $16,849

10-year hold

• IRR: -1.8%
• Equity multiple: 0.88×
• Total profit: $-3,813
• Equity at exit: $9,770

Cash invested: $31,640 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,566 high
• Mortgage (P&I): −$593
• Tax from tax record: −$63 /mo · $752/yr
• Insurance: −$47
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $108

Break-even live

Break-even rent $1,429

Max offer price $113,000

Occupancy floor 88%

Sensitivity live

Price	-10% $172	-5% $140	+0% $108	+5% $76	+10% $44
Rent	-10% $-15	-5% $47	+0% $108	+5% $170	+10% $232
Rate	-1.0pp $165	-0.5pp $137	base $108	+0.5pp $79	+1.0pp $49

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: $28,250
• Closing costs: $3,390
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3135 N Dorgenois St New Orleans, LA	2.0	2.0	960	$1,440	$1.50	25d	1	0.09mi
3137 N Dorgenois St New Orleans, LA	2.0	2.0	960	$1,440	$1.50	18d	1	0.09mi
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	25d	1	0.16mi
2421 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	13d	1	0.18mi
2423 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	13d	1	0.18mi
2509 Piety St New Orleans, LA	2.0	2.0	1056	$1,450	$1.37	25d	1	0.21mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	17d	1	0.33mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	25d	1	0.33mi
3201 N Galvez St Unit 2B New Orleans, LA	2.0	1.0	700	$1,250	$1.79	25d	1	0.38mi
2027 Feliciana St New Orleans, LA	2.0	1.0	1104	$1,100	$1.00	17d	1	0.39mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	4d	1	0.40mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	4d	1	0.40mi
2219 Almonaster Ave Unit A New Orleans, LA	2.0	1.0	950	$1,500	$1.58	25d	1	0.41mi
2017 Louisa St New Orleans, LA	3.0	1.0	750	$1,300	$1.73	18d	1	0.43mi
2019 Louisa St New Orleans, LA	3.0	1.0	750	$1,500	$2.00	18d	1	0.43mi
2241 Eads St New Orleans, LA	2.0	1.0	867	$1,500	$1.73	25d	1	0.45mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	25d	1	0.45mi
1942 Piety St New Orleans, LA	3.0	1.0	1100	$1,500	$1.36	25d	1	0.47mi
2010 Saint Ferdinand St New Orleans, LA	2.0	1.0	909	$1,650	$1.82	25d	1	0.48mi
1905 Montegut St New Orleans, LA	2.0	1.5	870	$1,275	$1.47	25d	1	0.50mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	25d	1	0.52mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	17d	1	0.53mi
2003 Almonaster Ave New Orleans, LA	3.0	2.0	988	$1,600	$1.62	25d	1	0.54mi
1904 Desire St New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	11d	1	0.54mi
3915 N Rocheblave St New Orleans, LA	2.0	2.0	1005	$1,700	$1.69	17d	1	0.55mi
3915 N Rocheblave St New Orleans, LA	2.0	2.0	1005	$1,700	$1.69	25d	1	0.55mi
1822 Piety St New Orleans, LA	3.0	1.5	1200	$1,500	$1.25	17d	1	0.57mi
2238 Painters St New Orleans, LA	2.0	1.0	896	$1,300	$1.45	25d	1	0.61mi
3125 Industrial Ct New Orleans, LA	2.0	2.5	1100	$1,450	$1.32	25d	1	0.61mi
2661 Abundance St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	25d	1	0.64mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	17d	1	0.64mi
2551 N Tonti St New Orleans, LA	2.0	2.0	800	$1,450	$1.81	25d	1	0.64mi
2649 N Rocheblave St New Orleans, LA	2.0	2.0	806	$1,200	$1.49	25d	1	0.64mi
3316 Metropolitan St New Orleans, LA	3.0	2.0	1184	$1,700	$1.44	25d	1	0.65mi
2524 N Galvez St New Orleans, LA	3.0	2.5	1102	$1,800	$1.63	18d	1	0.66mi
2522 N Galvez St New Orleans, LA	3.0	2.0	1105	$1,675	$1.52	25d	1	0.66mi
2515 N Galvez St Unit 2515 New Orleans, LA	4.0	2.0	1200	$1,900	$1.58	25d	1	0.66mi
2515 N Galvez St New Orleans, LA	4.0	2.0	1200	$1,200	$1.00	11d	1	0.66mi
4120 N Rocheblave St New Orleans, LA	2.0	1.0	750	$1,275	$1.70	4d	1	0.67mi
1922 Painters St New Orleans, LA	3.0	1.0	920	$1,700	$1.85	4d	1	0.69mi

Listing history 20 events

1. 2026-06-21
   days on market $113,000 Active 128 DOM
2. 2026-06-18
   days on market $113,000 Active 125 DOM
3. 2026-06-17
   days on market $113,000 Active 124 DOM
4. 2026-06-16
   days on market $113,000 Active 123 DOM
5. 2026-06-15
   days on market $113,000 Active 122 DOM
6. 2026-06-13
   days on market $113,000 Active 120 DOM
7. 2026-06-10
   days on market $113,000 Active 117 DOM
8. 2026-06-09
   days on market $113,000 Active 116 DOM
9. 2026-06-08
   days on market $113,000 Active 115 DOM
10. 2026-06-07
    days on market $113,000 Active 114 DOM
11. 2026-06-05
    days on market $113,000 Active 111 DOM
12. 2026-06-03
    days on market $113,000 Active 110 DOM
13. 2026-06-02
    days on market $113,000 Active 109 DOM
14. 2026-06-01
    days on market $113,000 Active 108 DOM
15. 2026-05-31
    days on market $113,000 Active 107 DOM
16. 2026-03-13
    price $113,000 512-char remark

    Show marketing remark (513 chars)

    This adorable modern style shotgun home is located in upper ninth ward on a corner lot, just minutes from downtown, French Quarter and vibrant conveniences. This home features 3 privates bedrooms accessible through a long gallery hallway, living room, kitchen and bath. This home also offers a charming porch overlooking a landscaped front yard and has a large backyard that is ready for cookouts and entertaining. This is a fantastic opportunity for renovation to make it your dream home or investment property.

17. 2026-03-13
    price $113,000 513-char remark

    Show marketing remark (513 chars)

    This adorable modern style shotgun home is located in upper ninth ward on a corner lot, just minutes from downtown, French Quarter and vibrant conveniences. This home features 3 privates bedrooms accessible through a long gallery hallway, living room, kitchen and bath. This home also offers a charming porch overlooking a landscaped front yard and has a large backyard that is ready for cookouts and entertaining. This is a fantastic opportunity for renovation to make it your dream home or investment property.

18. 2026-02-12
    listed $131,000 Active 512-char remark

    Show marketing remark (513 chars)

    This adorable modern style shotgun home is located in upper ninth ward on a corner lot, just minutes from downtown, French Quarter and vibrant conveniences. This home features 3 privates bedrooms accessible through a long gallery hallway, living room, kitchen and bath. This home also offers a charming porch overlooking a landscaped front yard and has a large backyard that is ready for cookouts and entertaining. This is a fantastic opportunity for renovation to make it your dream home or investment property.

19. 2026-02-12
    listed $131,000 Active 513-char remark

    Show marketing remark (513 chars)

    This adorable modern style shotgun home is located in upper ninth ward on a corner lot, just minutes from downtown, French Quarter and vibrant conveniences. This home features 3 privates bedrooms accessible through a long gallery hallway, living room, kitchen and bath. This home also offers a charming porch overlooking a landscaped front yard and has a large backyard that is ready for cookouts and entertaining. This is a fantastic opportunity for renovation to make it your dream home or investment property.

20. 2008-10-20
    soldstatus $75,000

ⓘ 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: $752 · $63/mo
• Projected year-2 tax: $752 · $63/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 9/10 Extreme FEMA zone AE · 99% 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,795
• − Mortgage interest: −$6,330
• − Property taxes: −$752
• − Insurance: −$5,684
• − Repairs & maintenance: −$1,504
• − Management: −$1,504
• − Depreciation: −$3,287
• Taxable loss: −$265
• Est. tax savings @ 24.0%: +$64
• After-tax cash flow: $1,365/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

+50.7% since first listed

5 events — show timeline

• 2026-03-13 Price Changed $113,000 AcadianaMLS
• 2026-03-13 Price Changed $113,000 GSREIN
• 2026-02-12 Listed $131,000 GSREIN
• 2026-02-12 Listed $131,000 AcadianaMLS
• 2008-10-20 Sold (Public Records) $75,000 Public Records

Property tax history

+22.9%/yr

Latest (2026): $752 · -7.5% YoY. Source: county tax records.