4220 Eagle St · New Orleans, LA 70118

$199,000

2 bd · 2.0 ba · 1,320 sqft · SingleFamily public records · 145 Days on market

Built 1985 3,598 sqft lot $151/sqft · 12% below area Est $254k · 22% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +11.4/30.0
• Livability +4.0/5.0
• DSCR +3.3/10.0
• 1% rule +3.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for buyers with their financing in place or if you are looking to avoid standard financing, Seller is offering bond for deed terms with Only 15% down payment. Financing terms include a 6% interest rate for Years 1–3, followed by a 7% interest rate for Years 4–5. Take advantage of this unique seller-financing option on a well-maintained New Orleans property featuring 3 bedrooms and 2 full bathrooms, wood floors, and 10-foot ceilings throughout. Enjoy a spacious kitchen with stainless steel appliances and a nice-sized backyard. Convenient location with easy access to I-10. Don’t miss this opportunity. Measurements are approximate and should be verified by the purchaser and/or buyer’s agent. Seller requires all buyers to view property prior to submitting an offer!

Key facts

• 3,598 sq ft lot
• Parking
• Built 1985

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $-135 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (12.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (17.7% below list).
• Recommended offer: $164k (17.7% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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.
• Zoned schools: Benjamin Franklin Elem. Math And Science (math 12% / reading 23%, grade F, #479 of 646 statewide, top 75%, 747 students, 98% FRL, charter) — zoned schools average 98% FRL vs 68% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 279 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 31% of the median local income ($64k/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 $1k of loan paydown is wiped out by about $6k 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 145 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y ago; this cycle's ask is 9875% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $157k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $163,797 (17.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.82% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.48%
• DSCR: 0.93
• GRM: 10.1

CMA / ARV

• ARV (median comp): $253,598
• List price: $199,000
• Delta: -21.53%
• 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
524 S Olympia St	0.19mi	2/2.0	1,325 (+0%)	1mo	$299,000	$226	90
9119 Edinburgh St	0.53mi	3/2.0 (+1)	1,349 (+2%)	1mo	$125,000	$93	66
8830 Stroelitz St	0.38mi	3/1.5 (+1)	1,260 (-4%)	11mo	$71,000	$56	59
8521 Edinburgh St	0.52mi	3/2.0 (+1)	1,358 (+3%)	10mo	$235,000	$173	58
200 Helena St	0.57mi	2/2.0	1,180 (-11%)	0mo	$232,000	$197	56
9102 Oleander St	0.74mi	3/2.0 (+1)	1,274 (-4%)	3mo	$58,066	$46	52
4722 Iberville St	0.53mi	2/2.0	1,150 (-13%)	7mo	$375,000	$326	48
318 N Bernadotte St	0.64mi	2/2.0	1,472 (+12%)	6mo	$230,000	$156	46
8911 Edinburgh Dr	0.49mi	2/1.0	1,151 (-13%)	10mo	$160,000	$139	44
438 S Scott St	0.73mi	3/1.0 (+1)	1,257 (-5%)	9mo	$320,000	$255	42
207 S Pierce St	0.71mi	2/1.0	1,210 (-8%)	9mo	$280,000	$231	42
3424 Camphor St	0.72mi	2/2.5	1,491 (+13%)	8mo	$199,000	$133	36

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 · 0.97% rent growth · sell at horizon

5-year hold

• IRR: -23.5%
• Equity multiple: 0.21×
• Total profit: $-44,080
• Equity at exit: $29,672

10-year hold

• IRR: -25.2%
• Equity multiple: -0.12×
• Total profit: $-62,157
• Equity at exit: $17,206

Cash invested: $55,720 (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 70118

• Rents YoY: 1.0%
• Active inventory: 279
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,638 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$236 /mo · $2,835/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $-135

Break-even live

Break-even rent $1,809

Max offer price $175,114

Occupancy floor —

Sensitivity live

Price	-10% $-23	-5% $-79	+0% $-135	+5% $-192	+10% $-248
Rent	-10% $-265	-5% $-200	+0% $-135	+5% $-71	+10% $-6
Rate	-1.0pp $-35	-0.5pp $-85	base $-135	+0.5pp $-187	+1.0pp $-239

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4008 General Ogden St Unit 4008 New Orleans, LA	2.0	2.0	1000	$1,475	$1.48	16d	1	0.19mi
4211 Hamilton St New Orleans, LA	2.0	1.0	1400	$1,100	$0.79	16d	1	0.20mi
4211 Hamilton St Unit NA New Orleans, LA	2.0	1.0	1400	$1,100	$0.79	13d	1	0.20mi
4834 Banks St New Orleans, LA	2.0	1.0	1000	$1,500	$1.50	25d	1	0.22mi
4834 Banks St New Orleans, LA	2.0	1.0	1000	$1,500	$1.50	5d	1	0.22mi
419 S Murat St New Orleans, LA	2.0	2.0	1200	$1,850	$1.54	23d	1	0.24mi
637 S Alexander St New Orleans, LA	3.0	2.0	1020	$1,700	$1.67	25d	1	0.24mi
4506 Banks St New Orleans, LA	2.0	2.0	1350	$2,000	$1.48	25d	1	0.26mi
321 S St Patrick St Unit C New Orleans, LA	2.0	1.0	1200	$1,450	$1.21	25d	1	0.26mi
321 S St Patrick St Unit C New Orleans, LA	2.0	1.0	1200	$1,500	$1.25	13d	1	0.26mi
505 S Alexander St New Orleans, LA	2.0	1.0	910	$2,000	$2.20	5d	1	0.27mi
337 S Murat St Unit 4501 New Orleans, LA	3.0	2.0	1150	$2,000	$1.74	25d	1	0.29mi
707 S Solomon St New Orleans, LA	2.0	1.0	1024	$1,200	$1.17	23d	1	0.38mi
4205 Dhemecourt St New Orleans, LA	2.0	1.0	900	$1,300	$1.44	25d	1	0.39mi
4150 D'Hemecourt St New Orleans, LA	2.0	1.0	900	$1,400	$1.56	5d	1	0.41mi
8815 Palm St New Orleans, LA	3.0	2.0	1195	$2,100	$1.76	25d	1	0.44mi
123 N Alexander St New Orleans, LA	2.0	1.0	950	$1,500	$1.58	25d	1	0.55mi
8502 Edinburgh St New Orleans, LA	3.0	2.0	1456	$1,800	$1.24	5d	1	0.56mi
217 N Bernadotte St New Orleans, LA	2.0	1.0	895	$1,450	$1.62	25d	1	0.56mi
4044 Banks St New Orleans, LA	2.0	2.0	1053	$1,600	$1.52	23d	1	0.57mi
4020 Baudin St New Orleans, LA	3.0	2.0	1100	$1,550	$1.41	5d	1	0.58mi
4038 Banks St New Orleans, LA	2.0	1.0	1000	$1,500	$1.50	17d	1	0.58mi
4038 Banks St New Orleans, LA	2.0	1.0	950	$1,500	$1.58	5d	1	0.58mi
647 S Pierce St New Orleans, LA	3.0	2.0	1550	$3,175	$2.05	16d	1	0.59mi
613 S Pierce St New Orleans, LA	3.0	1.0	1200	$1,500	$1.25	18d	1	0.59mi
615 S Pierce St New Orleans, LA	3.0	1.0	1200	$1,500	$1.25	18d	1	0.60mi
8816 Olive St Unit A-B New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	17d	1	0.60mi
8816 Olive St New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	25d	1	0.60mi
4600 S Carrollton Ave Unit 1B New Orleans, LA	2.0	2.0	1072	$1,500	$1.40	25d	1	0.61mi
4300 Bienville St New Orleans, LA	2.0	1.0	940	$1,650	$1.76	5d	1	0.66mi
9528 Stroelitz St New Orleans, LA	3.0	2.0	1174	$2,100	$1.79	13d	1	0.66mi
4624 Conti St New Orleans, LA	2.0	1.0	1200	$1,300	$1.08	25d	1	0.66mi
9540 Stroelitz St Unit 9540 New Orleans, LA	2.0	1.0	949	$1,495	$1.58	25d	1	0.67mi
8514 Forshey St New Orleans, LA	3.0	1.0	1030	$1,600	$1.55	25d	1	0.69mi
335 Virginia St New Orleans, LA	2.0	1.0	1200	$1,650	$1.38	16d	1	0.70mi
319 S Scott St New Orleans, LA	1.0	1.0	900	$1,450	$1.61	25d	1	0.71mi
319 S Scott St Unit 2A New Orleans, LA	1.0	1.0	900	$1,500	$1.67	25d	1	0.71mi
3825 Baudin St New Orleans, LA	3.0	3.5	1680	$2,000	$1.19	25d	1	0.72mi
3832 Banks St New Orleans, LA	2.0	1.0	1200	$1,850	$1.54	18d	1	0.72mi
4136 Bienville St New Orleans, LA	2.0	1.0	875	$1,400	$1.60	25d	1	0.75mi

Listing history 26 events

1. 2026-06-21
   days on market $199,000 Active 145 DOM
2. 2026-06-18
   days on market $199,000 Active 142 DOM
3. 2026-06-17
   days on market $199,000 Active 141 DOM
4. 2026-06-16
   days on market $199,000 Active 140 DOM
5. 2026-06-15
   days on market $199,000 Active 139 DOM
6. 2026-06-13
   days on market $199,000 Active 137 DOM
7. 2026-06-10
   days on market $199,000 Active 134 DOM
8. 2026-06-09
   days on market $199,000 Active 133 DOM
9. 2026-06-08
   days on market $199,000 Active 132 DOM
10. 2026-06-07
    days on market $199,000 Active 131 DOM
11. 2026-06-05
    days on market $199,000 Active 128 DOM
12. 2026-06-03
    days on market $199,000 Active 127 DOM
13. 2026-06-02
    days on market $199,000 Active 126 DOM
14. 2026-06-01
    days on market $199,000 Active 125 DOM
15. 2026-05-31
    days on market $199,000 Active 124 DOM
16. 2026-05-11
    historical $1,650
17. 2026-04-23
    price $1,650
18. 2026-03-13
    listed $1,995
19. 2026-01-27
    listed $199,000 Active 813-char remark

    Show marketing remark (789 chars)

    Great opportunity for buyers with their financing in place or if you are looking to avoid standard financing, Seller is offering bond for deed terms with Only 15% down payment. Financing terms include a 6% interest rate for Years 1-3, followed by a 7% interest rate for Years 4-5. Take advantage of this unique seller-financing option on a well-maintained New Orleans property featuring 3 bedrooms and 2 full bathrooms, wood floors, and 10-foot ceilings throughout. Enjoy a spacious kitchen with stainless steel appliances and a nice-sized backyard. Convenient location with easy access to I-10. Don't miss this opportunity. Measurements are approximate and should be verified by the purchaser and/or buyer's agent. Seller requires all buyers to view property prior to submitting an offer!

20. 2026-01-27
    listed $199,000 Active 789-char remark

    Show marketing remark (789 chars)

    Great opportunity for buyers with their financing in place or if you are looking to avoid standard financing, Seller is offering bond for deed terms with Only 15% down payment. Financing terms include a 6% interest rate for Years 1-3, followed by a 7% interest rate for Years 4-5. Take advantage of this unique seller-financing option on a well-maintained New Orleans property featuring 3 bedrooms and 2 full bathrooms, wood floors, and 10-foot ceilings throughout. Enjoy a spacious kitchen with stainless steel appliances and a nice-sized backyard. Convenient location with easy access to I-10. Don't miss this opportunity. Measurements are approximate and should be verified by the purchaser and/or buyer's agent. Seller requires all buyers to view property prior to submitting an offer!

21. 2020-12-11
    soldstatus $157,000
22. 2020-12-07
    soldstatus $157,000 Closed
23. 2020-11-09
    status Pending
24. 2020-11-02
    listed $165,000 Active
25. 2020-11-02
    listed $165,000
26. 1989-08-10
    soldstatus $18,000

ⓘ 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: $2,835 · $236/mo
• Projected year-2 tax: $2,835 · $236/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) · 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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,656
• − Mortgage interest: −$11,147
• − Property taxes: −$2,835
• − Insurance: −$1,792
• − Repairs & maintenance: −$1,572
• − Management: −$1,572
• − Depreciation: −$5,789
• Taxable loss: −$5,053
• Est. tax savings @ 24.0%: +$1,213
• After-tax cash flow: $-410/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): 36,072
• Household income: $63,750
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 2237.0

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 0.65)
• Race & ethnicity: White 47% Black 34% Hispanic / Latino 11% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Italian 2% Romanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 86% English-only · Spanish 7% French/Haitian/Cajun 2% Other Indo-European 2%

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: ▼ -210.46%
• Current HPI: 282.9629
• Rent YoY: ▲ 0.97%
• 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

-90.8% since first listed

11 events — show timeline

• 2026-05-11 Rental Removed $1,650 APPFOLIO
• 2026-04-23 Price Changed $1,650 APPFOLIO
• 2026-03-13 Listed for Rent $1,995 APPFOLIO
• 2026-01-27 Listed $199,000 AcadianaMLS
• 2026-01-27 Listed $199,000 GSREIN
• 2020-12-11 Sold (Public Records) $157,000 Public Records
• 2020-12-07 Sold (MLS) $157,000 GSREIN
• 2020-11-09 Pending — GSREIN
• 2020-11-02 Listed $165,000 AcadianaMLS
• 2020-11-02 Listed $165,000 GSREIN
• 1989-08-10 Sold (Public Records) $18,000 Public Records

Property tax history

+36.4%/yr

Latest (2026): $2,835 · +1.1% YoY. Source: county tax records.