2430/2432 Delachaise St · New Orleans, LA 70115

$160,000

3 bd · 2.0 ba · 1,386 sqft · SingleFamily · 155 Days on market

2,613 sqft lot

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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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• 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

LOCATION, LOCATION, LOCATION!! This property is conveniently located within walking distance of the Ceasar Superdome. It's only 10 MINUTES from DOWNTOWN New Orleans and less than 15 minutes from Dillard, Xavier, and SUNO. An investor's dream!! The perfect location for a rental/airbnb property during Mardi Gras or football season. This property is being sold for land value only. No showings allowed. Please do not walk on property. The owner waives any liability for injuries obtained as a result of trespassing.

Key facts

• 2,613 sq ft lot
• Listed 155 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $406 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 155 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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 $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 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: 1.25% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.65%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $342,342
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4119 Clara St	0.29mi	3/2.0	1,404 (+1%)	2mo	$400,000	$285	82
2321 Seventh St	0.25mi	3/2.0	1,425 (+3%)	2mo	$325,000	$228	82
2228 Delachaise St	0.14mi	3/2.0	1,575 (+14%)	2mo	$380,000	$241	69
2116 Delachaise St St	0.22mi	3/2.0	1,511 (+9%)	9mo	$419,000	$277	67
2609 General Pershing St	0.31mi	2/2.0 (-1)	1,508 (+9%)	4mo	$362,000	$240	62
2205 Valence St	0.61mi	3/2.0	1,469 (+6%)	1mo	$425,000	$289	61
2725 Philip St	0.67mi	3/2.0	1,404 (+1%)	7mo	$199,000	$142	61
2300 Upperline St	0.68mi	3/1.5	1,403 (+1%)	8mo	$410,000	$292	58
2014 Philip St	0.70mi	3/2.0	1,476 (+6%)	3mo	$310,000	$210	54
2917 Baronne St	0.52mi	3/2.5	1,497 (+8%)	8mo	$370,000	$247	54
1830 General Taylor St	0.42mi	2/2.0 (-1)	1,215 (-12%)	9mo	$425,000	$350	47
3404 Delachaise St	0.65mi	3/2.0	1,532 (+10%)	8mo	$294,000	$192	45

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: -3.6%
• Equity multiple: 0.87×
• Total profit: $-5,856
• Equity at exit: $23,857

10-year hold

• IRR: 2.1%
• Equity multiple: 1.13×
• Total profit: $5,856
• Equity at exit: $13,834

Cash invested: $44,800 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,998 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $406

Break-even live

Break-even rent $1,484

Max offer price $160,000

Occupancy floor 75%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2539 Amelia St New Orleans, LA	3.0	2.0	1296	$2,200	$1.70	24d	1	0.05mi
2535 Marengo St New Orleans, LA	3.0	1.0	1300	$1,200	$0.92	15d	1	0.14mi
3435 Magnolia St New Orleans, LA	3.0	1.0	1050	$1,500	$1.43	24d	1	0.14mi
2232 Amelia St New Orleans, LA	3.0	2.0	900	$1,800	$2.00	17d	1	0.16mi
3429 Clara St New Orleans, LA	3.0	2.0	1620	$2,350	$1.45	15d	1	0.22mi
2717 Milan St New Orleans, LA	3.0	1.5	1850	$1,650	$0.89	15d	1	0.25mi
4223 S Liberty St New Orleans, LA	3.0	1.5	1509	$2,400	$1.59	3d	1	0.30mi
2033 General Taylor St New Orleans, LA	3.0	1.0	908	$2,400	$2.64	24d	1	0.30mi
4119 S Saratoga St Unit U New Orleans, LA	2.0	2.0	1225	$2,400	$1.96	24d	1	0.33mi
3324 S Saratoga St Unit 201 New Orleans, LA	2.0	1.0	1200	$2,000	$1.67	21d	1	0.33mi
2923 Milan St New Orleans, LA	2.0	1.0	905	$1,200	$1.33	24d	1	0.35mi
4011 Danneel St New Orleans, LA	2.0	2.0	1200	$2,495	$2.08	24d	1	0.35mi
3317 Dryades St New Orleans, LA	2.0	2.0	900	$1,700	$1.89	17d	1	0.42mi
2011 General Pershing St Unit 2A New Orleans, LA	2.0	2.0	1400	$1,850	$1.32	24d	1	0.43mi
3044 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1800	$1,900	$1.06	24d	1	0.43mi
4206 S Derbigny St New Orleans, LA	3.0	1.0	1300	$1,600	$1.23	24d	1	0.46mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1232	$2,300	$1.87	24d	1	0.46mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1250	$2,300	$1.84	2d	1	0.46mi
2222 Fourth St New Orleans, LA	2.0	1.5	937	$1,550	$1.65	24d	1	0.47mi
3429 Baronne St New Orleans, LA	3.0	2.5	1600	$2,500	$1.56	44d	1	0.47mi
3439 Baronne St New Orleans, LA	2.0	2.0	1492	$3,500	$2.35	16d	1	0.47mi
2034 Napoleon Ave New Orleans, LA	2.0	2.0	1000	$2,300	$2.30	24d	1	0.48mi
4525 Freret St Unit 212 New Orleans, LA	2.0	2.0	1004	$2,500	$2.49	3d	1	0.49mi
2218 Jena St New Orleans, LA	2.0	1.0	900	$1,775	$1.97	3d	1	0.49mi
2525 Cadiz St Unit 302 New Orleans, LA	2.0	2.0	1022	$2,500	$2.45	3d	1	0.49mi
2833 S Derbigny St New Orleans, LA	3.0	2.0	1500	$1,795	$1.20	24d	1	0.50mi
4301 S Derbigny St New Orleans, LA	2.0	2.0	975	$1,495	$1.53	3d	1	0.50mi
1925 Napoleon Ave New Orleans, LA	2.0	2.0	1332	$2,300	$1.73	12d	1	0.51mi
3208 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1391	$1,900	$1.37	17d	1	0.52mi
1725 Louisiana Ave New Orleans, LA	2.0	2.0	1350	$2,000	$1.48	24d	1	0.52mi
3212 Louisiana Avenue Pkwy Unit A New Orleans, LA	2.0	1.0	1209	$1,795	$1.48	3d	1	0.52mi
2733 Danneel St New Orleans, LA	4.0	2.0	1350	$1,775	$1.31	24d	1	0.53mi
2107 Fourth St New Orleans, LA	3.0	1.0	1292	$1,775	$1.37	17d	1	0.53mi
2840 Dryades St Unit 2838 New Orleans, LA	2.0	2.0	1000	$1,595	$1.59	3d	1	0.54mi
2131 Cadiz St Unit A New Orleans, LA	2.0	1.0	1300	$1,700	$1.31	24d	1	0.54mi
2931 Baronne St New Orleans, LA	3.0	1.0	1145	$1,510	$1.32	24d	1	0.55mi
1908 Washington Ave Unit NA New Orleans, LA	2.0	2.5	1498	$2,100	$1.40	20d	1	0.55mi
2628 S Derbigny St New Orleans, LA	3.0	1.0	900	$1,500	$1.67	3d	1	0.57mi
1809 Napoleon Ave New Orleans, LA	2.0	2.0	1200	$2,400	$2.00	24d	1	0.57mi
4631 Clara St New Orleans, LA	3.0	1.0	1100	$1,995	$1.81	24d	1	0.57mi

Listing history 12 events

1. 2024-12-11
   status Pending
2. 2024-12-11
   historical
3. 2024-01-17
   historical
4. 2023-08-12
   status Pending
5. 2023-04-01
   status Active
6. 2023-03-02
   historical
7. 2023-02-22
   status Active
8. 2023-02-04
   status Pending
9. 2023-01-20
   listed $160,000 Active
10. 2023-01-20
    listed $160,000
11. 2023-01-16
    listed $160,000 Active
12. 2023-01-16
    listed $160,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 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: $23,971
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$1,598
• − Repairs & maintenance: −$1,918
• − Management: −$1,918
• − Depreciation: −$4,655
• Taxable income: $2,521
• Est. tax owed @ 24.0%: −$605
• After-tax cash flow: $4,266/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

+0.0% since first listed

12 events — show timeline

• 2024-12-11 Pending — GBRMLS
• 2024-12-11 Delisted — GBRMLS
• 2024-01-17 Delisted — GBRMLS
• 2023-08-12 Pending — GBRMLS
• 2023-04-01 Relisted — GBRMLS
• 2023-03-02 Delisted — GBRMLS
• 2023-02-22 Relisted — GBRMLS
• 2023-02-04 Pending — GBRMLS
• 2023-01-20 Listed $160,000 AcadianaMLS
• 2023-01-20 Listed $160,000 GBRMLS
• 2023-01-16 Listed $160,000 AcadianaMLS
• 2023-01-16 Listed $160,000 GBRMLS