703 Leboeuf St · New Orleans, LA 70114

$220,000

4 bd · 2.0 ba · 1,578 sqft · SingleFamily public records · 103 Days on market

Built 1970 3,717 sqft lot $139/sqft · 32% below area Est $338k · 35% under

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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 +18.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy afternoons of the porch of this renovated 3 bedroom / 2 bath home blocks from Algiers Point. The home was renovated to the studs. Open floor-plan with contemporary kitchen complete with stainless appliances. Oversized bedrooms 20ft in length. There is vinyl plank flooring in bedrooms and living areas, tile in the kitchen and baths. Access the backyard and driveway from the side door. There is a privacy fence on Opelousas and picket fence out front, gated parking!

Key facts

• Contemporary kitchen
• Privacy fence
• Gated parking

Tags

• CONTEMPORARY KITCHEN
• VINYL PLANK FLOORING
• PRIVACY FENCE
• GATED PARKING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $126 ($2k/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 $210k (4.5% below list).
• Recommended offer: $200k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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 (-0.7%/yr); 265 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); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,102/mo this rent would consume 58% of the median local household income ($43k/yr) (locally 2240% 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 $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 103 days — a 9% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 6y 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.
• Climate carrying-cost: severe 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 $200,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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: 0.96% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.74%
• DSCR: 1.17
• GRM: 8.7

CMA / ARV

• ARV (median comp): $337,941
• List price: $220,000
• Delta: -34.90%
• 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
1600 Bodenger Blvd	0.63mi	3/2.5 (-1)	1,558 (-1%)	1mo	$102,000	$65	61
1210 Belleville St	0.52mi	3/2.0 (-1)	1,600 (+1%)	10mo	$55,000	$34	60
415 Vallette St	0.49mi	3/2.0 (-1)	1,700 (+8%)	2mo	$379,000	$223	58
1321 Pacific Ave	0.52mi	3/1.5 (-1)	1,520 (-4%)	8mo	$60,000	$39	56
612 Olivier St St	0.46mi	3/2.0 (-1)	1,500 (-5%)	12mo	$385,000	$257	56
320 De Armas St	0.71mi	3/2.0 (-1)	1,508 (-4%)	3mo	$138,689	$92	52
926 Verret St	0.49mi	3/2.0 (-1)	1,431 (-9%)	6mo	$230,000	$161	51
431 Red Allen Way	0.56mi	3/2.0 (-1)	1,466 (-7%)	9mo	$349,900	$239	49
422 Red Allen Way	0.57mi	3/2.0 (-1)	1,800 (+14%)	1mo	$440,000	$244	44
2024 Lamarque St	0.55mi	3/2.0 (-1)	1,350 (-14%)	6mo	$151,500	$112	40
419 Homer St	0.59mi	3/2.0 (-1)	1,785 (+13%)	13mo	$419,000	$235	35
1510 Behrman Ave	0.68mi	3/2.0 (-1)	1,350 (-14%)	13mo	$155,000	$115	29

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: -15.9%
• Equity multiple: 0.45×
• Total profit: $-33,758
• Equity at exit: $32,803

10-year hold

• IRR: -13.9%
• Equity multiple: 0.31×
• Total profit: $-42,721
• Equity at exit: $19,022

Cash invested: $61,600 (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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,102 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$223 /mo · $2,673/yr
• Insurance: −$92
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $126

Break-even live

Break-even rent $1,943

Max offer price $220,000

Occupancy floor 89%

Sensitivity live

Price	-10% $250	-5% $188	+0% $126	+5% $63	+10% $1
Rent	-10% $-40	-5% $43	+0% $126	+5% $209	+10% $292
Rate	-1.0pp $237	-0.5pp $182	base $126	+0.5pp $69	+1.0pp $11

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	4d	1	0.09mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	25d	1	0.25mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	4d	1	0.31mi
729 Elmira Ave New Orleans, LA	4.0	2.0	2000	$2,000	$1.00	17d	1	0.32mi
1108 Sumner St New Orleans, LA	3.0	1.5	1197	$1,500	$1.25	13d	1	0.40mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	25d	1	0.41mi
325 Elmira Ave Unit 325 New Orleans, LA	3.0	1.5	1050	$1,525	$1.45	25d	1	0.45mi
606 Drum St New Orleans, LA	3.0	2.0	1131	$2,350	$2.08	25d	1	0.54mi
718 Majestic Pl New Orleans, LA	3.0	2.0	1164	$1,785	$1.53	22d	1	0.56mi
249 Vallette St New Orleans, LA	4.0	2.0	1734	$2,500	$1.44	17d	1	0.57mi
433 Homer St Unit 1 New Orleans, LA	4.0	2.0	1570	$1,850	$1.18	25d	1	0.57mi
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	17d	1	0.58mi
119 Vallette St New Orleans, LA	3.0	2.5	1500	$2,100	$1.40	25d	1	0.63mi
1140 Teche St Apt B New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	25d	1	0.67mi
513 Park Blvd New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	4d	1	0.75mi
400 Park Blvd Unit A New Orleans, LA	4.0	1.5	1275	$2,200	$1.73	25d	1	0.80mi
1684 Lauradale Dr New Orleans, LA	4.0	2.0	1571	$2,000	$1.27	25d	1	0.96mi
2320 Mardi Gras Blvd New Orleans, LA	4.0	2.5	1600	$2,500	$1.56	3d	1	1.17mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	25d	1	1.18mi
1719 Pace Blvd New Orleans, LA	3.0	1.0	1178	$2,000	$1.70	13d	1	1.21mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	3d	1	1.21mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	45d	1	1.23mi
882 Montegut St New Orleans, LA	1.0–3.0	1.0–2.0	826	$2,575	$3.12	45d	7	1.25mi
1774 Pace Blvd New Orleans, LA	4.0	2.5	1574	$2,000	$1.27	25d	1	1.28mi
619 Reynes St New Orleans, LA	3.0	2.0	1318	$2,100	$1.59	17d	1	1.29mi
3000 Americus St New Orleans, LA	3.0	2.0	1280	$1,400	$1.09	25d	1	1.31mi
617 Forstall St New Orleans, LA	3.0	2.0	1262	$2,200	$1.74	4d	1	1.34mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	25d	1	1.34mi
632 Mandeville St Unit 2B New Orleans, LA	4.0	4.5	1337	$4,500	$3.37	18d	1	1.35mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	25d	1	1.38mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	45d	1	1.38mi
515 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1644	$3,600	$2.19	45d	1	1.40mi
535 Decatur St Unit 3 New Orleans, LA	3.0	2.0	1600	$2,800	$1.75	13d	1	1.41mi
527 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1687	$3,500	$2.07	45d	1	1.42mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	1.45mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	1.46mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	1.46mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	25d	1	1.46mi
751 Chartres St New Orleans, LA	2.0–3.0	2.0	1461	$3,450	$2.36	45d	1	1.46mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	45d	1	1.48mi

Listing history 35 events

1. 2026-06-21
   days on market $220,000 Active 103 DOM
2. 2026-06-18
   days on market $220,000 Active 100 DOM
3. 2026-06-17
   days on market $220,000 Active 99 DOM
4. 2026-06-16
   days on market $220,000 Active 98 DOM
5. 2026-06-15
   days on market $220,000 Active 97 DOM
6. 2026-06-13
   days on market $220,000 Active 95 DOM
7. 2026-06-10
   days on market $220,000 Active 92 DOM
8. 2026-06-09
   days on market $220,000 Active 91 DOM
9. 2026-06-08
   days on market $220,000 Active 90 DOM
10. 2026-06-07
    days on market $220,000 Active 89 DOM
11. 2026-06-05
    pricedays on market $220,000 Active 86 DOM
12. 2026-06-03
    days on market $230,000 Active 85 DOM
13. 2026-06-02
    days on market $230,000 Active 84 DOM
14. 2026-06-01
    days on market $230,000 Active 83 DOM
15. 2026-05-31
    days on market $230,000 Active 82 DOM
16. 2026-03-12
    status Active 473-char remark

    Show marketing remark (473 chars)

    Enjoy afternoons of the porch of this renovated 3 bedroom / 2 bath home blocks from Algiers Point. The home was renovated to the studs. Open floor-plan with contemporary kitchen complete with stainless appliances. Oversized bedrooms 20ft in length. There is vinyl plank flooring in bedrooms and living areas, tile in the kitchen and baths. Access the backyard and driveway from the side door. There is a privacy fence on Opelousas and picket fence out front, gated parking!

17. 2026-03-11
    status Active 473-char remark

    Show marketing remark (473 chars)

    Enjoy afternoons of the porch of this renovated 3 bedroom / 2 bath home blocks from Algiers Point. The home was renovated to the studs. Open floor-plan with contemporary kitchen complete with stainless appliances. Oversized bedrooms 20ft in length. There is vinyl plank flooring in bedrooms and living areas, tile in the kitchen and baths. Access the backyard and driveway from the side door. There is a privacy fence on Opelousas and picket fence out front, gated parking!

18. 2026-03-10
    listed $230,000 Active 473-char remark

    Show marketing remark (473 chars)

    Enjoy afternoons of the porch of this renovated 3 bedroom / 2 bath home blocks from Algiers Point. The home was renovated to the studs. Open floor-plan with contemporary kitchen complete with stainless appliances. Oversized bedrooms 20ft in length. There is vinyl plank flooring in bedrooms and living areas, tile in the kitchen and baths. Access the backyard and driveway from the side door. There is a privacy fence on Opelousas and picket fence out front, gated parking!

19. 2026-02-14
    historical $2,100
20. 2025-12-09
    listed $230,000 Active
21. 2025-11-01
    listed $2,100
22. 2024-12-23
    historical $1,800
23. 2024-11-13
    listed $1,800
24. 2024-11-06
    historical $1,800
25. 2024-11-01
    listed $1,800
26. 2024-10-27
    historical $2,100
27. 2024-09-14
    price $2,100
28. 2024-09-08
    listed $1,800
29. 2024-08-07
    listed $225,000
30. 2024-08-07
    listed $225,000
31. 2024-06-08
    price $225,000
32. 2024-04-19
    price $265,000
33. 2024-03-06
    listed $225,000
34. 2020-08-14
    listed $179,900
35. 2020-02-10
    listed $199,900

ⓘ 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: $2,673 · $223/mo
• Projected year-2 tax: $2,673 · $223/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 · 74% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,221
• − Mortgage interest: −$12,323
• − Property taxes: −$2,673
• − Insurance: −$1,898
• − Repairs & maintenance: −$2,018
• − Management: −$2,018
• − Depreciation: −$6,400
• Taxable loss: −$2,109
• Est. tax savings @ 24.0%: +$506
• After-tax cash flow: $2,015/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): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

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: Predominantly Black (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% 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: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

+15.1% since first listed

20 events — show timeline

• 2026-03-12 Relisted — AcadianaMLS
• 2026-03-11 Relisted — AcadianaMLS
• 2026-03-10 Listed $230,000 AcadianaMLS
• 2026-02-14 Rental Removed $2,100 GSREIN
• 2025-12-09 Listed $230,000 AcadianaMLS
• 2025-11-01 Listed for Rent $2,100 GSREIN
• 2024-12-23 Rental Removed $1,800 RENTSPREE
• 2024-11-13 Listed for Rent $1,800 RENTSPREE
• 2024-11-06 Rental Removed $1,800 RENTSPREE
• 2024-11-01 Listed for Rent $1,800 RENTSPREE
• 2024-10-27 Rental Removed $2,100 GSREIN
• 2024-09-14 Price Changed $2,100 GSREIN
• 2024-09-08 Listed for Rent $1,800 GSREIN
• 2024-08-07 Listed $225,000 AcadianaMLS
• 2024-08-07 Listed $225,000 AcadianaMLS
• 2024-06-08 Price Changed $225,000 GSREIN
• 2024-04-19 Price Changed $265,000 GSREIN
• 2024-03-06 Listed $225,000 AcadianaMLS
• 2020-08-14 Listed $179,900 AcadianaMLS
• 2020-02-10 Listed $199,900 AcadianaMLS

Property tax history

+42.1%/yr

Latest (2026): $2,673 · +0.0% YoY. Source: county tax records.