715 Harmony St · New Orleans, LA 70115

$230,000

3 bd · 2.0 ba · 1,656 sqft · SingleFamily public records · 49 Days on market

Built 1920 $139/sqft · 56% below area

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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 +25.0/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This solid Irish Channel residence features two stories, three bedrooms, and two half-baths. It includes a living/dining area, a den, and a combination of wood and tile flooring. Notable features of the house include original stained-glass window, wooden mantles, oak doors, and original architectural corbels. There are two wooden interior staircases and a large porch/balcony on the second floor. The property also offers ample side yard space, perfect for entertaining or parking. Additionally, there is potential to convert it into a multifamily residence. It is conveniently located within walking distance of all that Magazine and Tchoupitoulas Streets have to offer.

Key facts

• Parking
• Built 1920
• Listed 49 days

Property features AI

Exterior

• Parking: Off-street parking (one space)
• Utilities: Public water; Public sewer
• Home design: Two-story property; Average condition; Slab foundation
• Construction: Aluminum siding; Brick exterior; Wood siding; Asphalt shingle roof; Built with slab foundation
• Exterior features: Balcony; Porch; Fence; City lot; Irregular lot

Interior

• Bathrooms: Two half bathrooms
• Interior features: Pantry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Recommended offer: $223k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 (-1.4%/yr); 278 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• This rent runs 36% of the median local income ($90k/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 $2k of loan paydown is wiped out by about $7k 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 49 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 11y 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 $12k; list at $230k implies a 1900% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $223,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.18% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.33%
• DSCR: 1.42
• GRM: 7.1

CMA / ARV

• ARV (median comp): $583,031
• List price: $230,000
• Delta: -60.55%
• 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
617 Eighth St	0.12mi	3/2.0	1,535 (-7%)	6mo	$300,000	$195	78
905 Aline St	0.32mi	3/2.0	1,596 (-4%)	2mo	$730,000	$457	77
3209 Laurel St	0.14mi	3/2.0	1,800 (+9%)	5mo	$341,325	$190	75
803 7th St	0.17mi	3/2.0	1,504 (-9%)	5mo	$225,000	$150	73
915 Sixth St	0.26mi	3/2.5	1,562 (-6%)	7mo	$788,000	$504	70
3512 Camp St	0.45mi	3/1.0	1,738 (+5%)	7mo	$960,000	$552	61
2919 Laurel St	0.22mi	2/2.5 (-1)	1,475 (-11%)	7mo	$445,000	$302	59
930 Foucher St	0.42mi	2/2.5 (-1)	1,782 (+8%)	7mo	$400,000	$224	55
3910 Coliseum St	0.74mi	3/3.0	1,726 (+4%)	1mo	$740,000	$429	53
924 Amelia St	0.52mi	2/2.0 (-1)	1,476 (-11%)	2mo	$640,000	$434	51
715 Constantinople St	0.73mi	3/2.0	1,482 (-10%)	6mo	$515,000	$348	44
721 Constantinople St	0.73mi	2/2.0 (-1)	1,451 (-12%)	1mo	$655,000	$451	40

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: -5.7%
• Equity multiple: 0.79×
• Total profit: $-13,241
• Equity at exit: $34,294

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-867
• Equity at exit: $19,886

Cash invested: $64,400 (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 70115

• Rents YoY: -1.4%
• Active inventory: 278
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,712 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$339 /mo · $4,072/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$569
• Net cashflow: $501

Break-even live

Break-even rent $2,078

Max offer price $230,000

Occupancy floor 77%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
617 7th St New Orleans, LA	3.0	2.0	1768	$3,400	$1.92	3d	1	0.14mi
929 Eighth St New Orleans, LA	3.0	1.5	1600	$2,250	$1.41	23d	1	0.18mi
912 Louisiana Ave New Orleans, LA	2.0	3.5	2175	$4,250	$1.95	43d	1	0.27mi
514 Washington Ave New Orleans, LA	2.0	2.0	1100	$2,200	$2.00	3d	1	0.29mi
1111 6th St New Orleans, LA	3.0	1.5	1425	$2,995	$2.10	43d	1	0.33mi
817 4th St New Orleans, LA	2.0	2.0	1232	$2,540	$2.06	3d	1	0.35mi
1216 6th St New Orleans, LA	2.0	1.0	1209	$3,600	$2.98	43d	1	0.39mi
2628 Magazine St New Orleans, LA	3.0	2.0	1400	$2,650	$1.89	17d	1	0.42mi
515 3rd St New Orleans, LA	3.0	3.0	1687	$2,650	$1.57	44d	1	0.42mi
2517 Saint Thomas St New Orleans, LA	3.0	3.0	2010	$4,000	$1.99	3d	1	0.42mi
2608 Magazine St New Orleans, LA	3.0	2.0	1844	$3,100	$1.68	43d	1	0.44mi
2502 Laurel St New Orleans, LA	3.0	2.0	1333	$2,300	$1.73	17d	1	0.45mi
530 2nd St New Orleans, LA	3.0	2.5	2050	$5,250	$2.56	43d	1	0.45mi
1410 6th St New Orleans, LA	3.0	2.0	1400	$5,000	$3.57	16d	1	0.50mi
1118 Foucher St New Orleans, LA	3.0	2.5	1620	$2,490	$1.54	17d	1	0.50mi
2725 Chestnut St New Orleans, LA	2.0	2.0	1766	$2,500	$1.42	43d	1	0.50mi
532 1st St New Orleans, LA	2.0	1.5	1202	$2,175	$1.81	3d	1	0.50mi
1104 2nd St Unit B New Orleans, LA	2.0	2.0	1750	$10,000	$5.71	23d	1	0.52mi
428 1st St New Orleans, LA	2.0	1.5	1378	$2,800	$2.03	23d	1	0.53mi
2325 Laurel St New Orleans, LA	2.0	1.0	1200	$1,600	$1.33	17d	1	0.59mi
1441 Washington Ave Unit A New Orleans, LA	2.0	2.5	2027	$3,500	$1.73	11d	1	0.59mi
2726 Prytania St #7 New Orleans, LA	2.0	2.0	1436	$2,500	$1.74	43d	1	0.60mi
2726 Prytania St #7 New Orleans, LA	2.0	2.0	1436	$2,350	$1.64	23d	1	0.60mi
1525 Louisiana Ave New Orleans, LA	2.0	1.0	1650	$2,500	$1.52	17d	1	0.61mi
3201 Saint Charles Ave New Orleans, LA	1.0–2.0	1.0–2.0	922	$2,250	$2.44	17d	4	0.66mi
536 Jackson Ave New Orleans, LA	2.0	1.0	1259	$2,475	$1.97	21d	1	0.70mi
939 Jackson Ave New Orleans, LA	2.0	2.0	1500	$2,950	$1.97	43d	1	0.74mi
1706 Seventh St Unit B New Orleans, LA	2.0	1.0	1158	$1,550	$1.34	23d	1	0.74mi
2115 Chippewa St New Orleans, LA	3.0	2.0	1315	$2,500	$1.90	43d	1	0.75mi
2115 Chippewa St New Orleans, LA	3.0	2.0	1315	$2,400	$1.83	16d	1	0.75mi
1719 Seventh St Unit A New Orleans, LA	2.0	1.0	1093	$1,525	$1.40	23d	1	0.76mi
427 Jackson Ave New Orleans, LA	1.0–2.0	1.0–2.0	915	$3,495	$3.82	1d	4	0.76mi
1725 Louisiana Ave New Orleans, LA	2.0	2.0	1350	$2,000	$1.48	23d	1	0.78mi
1618 3rd St New Orleans, LA	2.0	1.0	1210	$1,850	$1.53	23d	1	0.78mi
3900 Prytania St Unit D New Orleans, LA	2.0	1.0	1050	$1,700	$1.62	23d	1	0.79mi
2931 Baronne St New Orleans, LA	3.0	1.0	1145	$1,510	$1.32	23d	1	0.80mi
2041 S Chippewa St Unit 2041 New Orleans, LA	3.0	2.5	1400	$2,700	$1.93	43d	1	0.80mi
4023 Tchoupitoulas St New Orleans, LA	3.0	2.0	1608	$3,200	$1.99	43d	1	0.82mi
3439 Baronne St New Orleans, LA	2.0	2.0	1492	$3,500	$2.35	16d	1	0.83mi
3429 Baronne St New Orleans, LA	3.0	2.5	1600	$2,500	$1.56	43d	1	0.84mi

Listing history 35 events

1. 2026-06-18
   days on market $230,000 Active 49 DOM
2. 2026-06-17
   days on market $230,000 Active 48 DOM
3. 2026-06-16
   days on market $230,000 Active 47 DOM
4. 2026-06-15
   days on market $230,000 Active 46 DOM
5. 2026-06-13
   days on market $230,000 Active 44 DOM
6. 2026-06-10
   days on market $230,000 Active 41 DOM
7. 2026-06-09
   days on market $230,000 Active 40 DOM
8. 2026-06-08
   days on market $230,000 Active 39 DOM
9. 2026-06-07
   days on market $230,000 Active 38 DOM
10. 2026-06-05
    days on market $230,000 Active 35 DOM
11. 2026-06-03
    days on market $230,000 Active 34 DOM
12. 2026-06-02
    days on market $230,000 Active 33 DOM
13. 2026-06-01
    days on market $230,000 Active 32 DOM
14. 2026-05-31
    days on market $230,000 Active 31 DOM
15. 2026-04-30
    listed $230,000 Active 673-char remark

    Show marketing remark (673 chars)

    This solid Irish Channel residence features two stories, three bedrooms, and two half-baths. It includes a living/dining area, a den, and a combination of wood and tile flooring. Notable features of the house include original stained-glass window, wooden mantles, oak doors, and original architectural corbels. There are two wooden interior staircases and a large porch/balcony on the second floor. The property also offers ample side yard space, perfect for entertaining or parking. Additionally, there is potential to convert it into a multifamily residence. It is conveniently located within walking distance of all that Magazine and Tchoupitoulas Streets have to offer.

16. 2026-04-30
    listed $230,000 Active 673-char remark

    Show marketing remark (673 chars)

    This solid Irish Channel residence features two stories, three bedrooms, and two half-baths. It includes a living/dining area, a den, and a combination of wood and tile flooring. Notable features of the house include original stained-glass window, wooden mantles, oak doors, and original architectural corbels. There are two wooden interior staircases and a large porch/balcony on the second floor. The property also offers ample side yard space, perfect for entertaining or parking. Additionally, there is potential to convert it into a multifamily residence. It is conveniently located within walking distance of all that Magazine and Tchoupitoulas Streets have to offer.

17. 2025-11-29
    price $257,000
18. 2025-11-14
    price $257,000
19. 2025-09-09
    listed $279,000 Active
20. 2025-09-09
    listed $279,000 Active
21. 2025-04-02
    price $287,000
22. 2025-04-02
    price $287,000
23. 2024-12-06
    listed $299,000 Active
24. 2024-01-24
    listed $315,000
25. 2023-10-01
    listed $327,000
26. 2019-10-16
    listed $327,000
27. 2016-01-10
    historical
28. 2016-01-10
    historical
29. 2015-11-21
    price $350,000
30. 2015-11-21
    price $350,000
31. 2015-10-09
    listed $395,000 Active
32. 2015-10-09
    listed $395,000 Active
33. 2015-10-09
    listed $350,000
34. 2015-10-09
    listed $350,000
35. 1980-10-07
    soldstatus $11,500

ⓘ 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: $4,072 · $339/mo
• Projected year-2 tax: $4,072 · $339/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 6/10 Major FEMA zone X · 56% 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,541
• − Mortgage interest: −$12,884
• − Property taxes: −$4,072
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,603
• − Management: −$2,603
• − Depreciation: −$6,691
• Taxable income: $2,537
• Est. tax owed @ 24.0%: −$609
• After-tax cash flow: $5,402/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): 31,183
• Household income: $90,182
• Rent vs Own: 45.7% rent · 54.3% own
• Severe rent burden: 1756.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 59% Black 26% Two or more races 8% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 8% Italian 3% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 91% English-only · Spanish 4% 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: ▼ -272.08%
• Current HPI: 287.2138
• Rent YoY: ▼ -1.42%
• 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

+1900.0% since first listed

20 events — show timeline

• 2026-04-30 Listed $230,000 GSREIN
• 2026-04-30 Listed $230,000 AcadianaMLS
• 2025-11-29 Price Changed $257,000 AcadianaMLS
• 2025-11-14 Price Changed $257,000 GSREIN
• 2025-09-09 Listed $279,000 AcadianaMLS
• 2025-04-02 Price Changed $287,000 AcadianaMLS
• 2025-04-02 Price Changed $287,000 GSREIN
• 2024-12-06 Listed $299,000 AcadianaMLS
• 2024-01-24 Listed $315,000 AcadianaMLS
• 2023-10-01 Listed $327,000 AcadianaMLS
• 2019-10-16 Listed $327,000 AcadianaMLS
• 2016-01-10 Listing Removed — GSREIN
• 2016-01-10 Listing Removed — GSREIN
• 2015-11-21 Price Changed $350,000 GSREIN
• 2015-11-21 Price Changed $350,000 GSREIN
• 2015-10-09 Listed $395,000 GSREIN
• 2015-10-09 Listed $395,000 GSREIN
• 2015-10-09 Listed $350,000 AcadianaMLS
• 2015-10-09 Listed $350,000 AcadianaMLS
• 1980-10-07 Sold (Public Records) $11,500 Public Records

Property tax history

+2.7%/yr

Latest (2026): $4,072 · -24.5% YoY. Source: county tax records.