3319 Pittari Pl · New Orleans, LA 70131

$160,000

3 bd · 1.5 ba · 1,956 sqft · SingleFamily public records · 44 Days on market

Built 1975 $82/sqft · 14% below area Est $185k · 14% under ↓ 6% since listing

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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 +28.1/30.0
• ARV discount +13.6/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Rent growth +0.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

IN NEED OF A LITTLE TLC!!! MOTIVATED SELLERS! <BR><BR> Spacious three-bedroom home offering approximately 2,000 square feet of living area with multiple additions and plenty of room to entertain. Wood burning fireplace for cozy gatherings. Also an additional bonus room.This property features a nice covered patio, backyard space, an enclosed front area along with additional walk in storage or flexible use, plus a spacious laundry room. <BR><BR> Conveniently located just minutes from downtown in an established community.<BR><BR> X Flood Zone<BR><BR>

Key facts

• Parking
• Built 1975
• Listed 44 days

Property features AI

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer
• Home design: Single-story; Brick construction; Shingle roof; Slab foundation; Property in very good condition
• Construction: Built with brick exterior; Shingle roof; Slab foundation
• Exterior features: Brick and concrete patio/porch areas; Workshop on the property; City lot with rectangular shape

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: 5 total rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Wood-burning fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $434 ($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: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 falling (-9.2%/yr); 274 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 39% of the median local income ($62k/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 $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 44 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 1975 — 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. 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: 1.27% ✓
• Cap rate: 10.05%
• Cash-on-cash: 13.40%
• DSCR: 1.60
• GRM: 6.6

CMA / ARV

• ARV (median comp): $185,234
• List price: $160,000
• Delta: -13.62%
• 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
2954 Blair St	0.22mi	4/2.0 (+1)	1,970 (+1%)	12mo	$220,000	$112	72
3200 Lancaster St	0.12mi	3/2.0	1,678 (-14%)	5mo	$179,900	$107	64
6616 Brunswick Ct	0.36mi	3/2.0	1,881 (-4%)	16mo	$250,000	$133	61
106 Larchmont Pl	0.60mi	3/2.0	2,048 (+5%)	2mo	$205,000	$100	60
3035 Sullen Pl Pl	0.40mi	3/2.0	1,688 (-14%)	2mo	$175,000	$104	55
6201 Oxford Pl	0.53mi	4/2.0 (+1)	2,048 (+5%)	7mo	$191,000	$93	54
6133 Carlisle Ct	0.69mi	4/2.0 (+1)	1,883 (-4%)	2mo	$185,000	$98	53
6227 Oxford Pl	0.51mi	4/2.5 (+1)	2,019 (+3%)	14mo	$290,000	$144	51
6628 Peony St	0.44mi	4/2.0 (+1)	1,700 (-13%)	7mo	$194,500	$114	45
5941 Dover Pl	0.71mi	3/2.0	1,846 (-6%)	15mo	$210,000	$114	43
104 Kingston Ct	0.74mi	3/2.0	1,752 (-10%)	5mo	$285,000	$163	42
205 Fairfax Pl	0.68mi	3/2.0	1,764 (-10%)	12mo	$300,000	$170	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: -2.6%
• Equity multiple: 0.91×
• Total profit: $-4,173
• Equity at exit: $23,857

10-year hold

• IRR: 3.3%
• Equity multiple: 1.21×
• Total profit: $9,223
• 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 70131

• Home prices YoY: -12.0%
• Rents YoY: -9.2%
• Active inventory: 274
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,033 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: −$427
• Net cashflow: $434

Break-even live

Break-even rent $1,484

Max offer price $160,000

Occupancy floor 74%

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 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3200 Lancaster St New Orleans, LA	4.0	2.0	1678	$2,200	$1.31	23d	1	0.11mi
3619 Pittari Pl New Orleans, LA	4.0	2.0	2000	$2,200	$1.10	23d	1	0.22mi
3531 Adrian St New Orleans, LA	3.0	2.0	1292	$1,895	$1.47	15d	1	0.25mi
4020 Sullen Pl New Orleans, LA	4.0	2.5	1280	$1,400	$1.09	3d	1	0.61mi
6021 Brighton Pl New Orleans, LA	4.0	3.0	1840	$3,100	$1.68	15d	1	0.69mi
6121 Stratford Pl New Orleans, LA	3.0	2.0	1225	$1,800	$1.47	15d	1	0.74mi
6015 Carlisle Ct New Orleans, LA	3.0	2.0	2300	$1,800	$0.78	15d	1	0.78mi
4254 Maple Leaf Dr New Orleans, LA	1.0–3.0	1.0–2.5	1354	$1,687	$1.25	1d	8	0.83mi
3429 Bryson St New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	23d	1	0.99mi
5801 Albany Ct New Orleans, LA	4.0	2.5	2160	$2,000	$0.93	23d	1	1.02mi
2741 Chelsea Dr New Orleans, LA	4.0	2.5	2382	$2,500	$1.05	15d	1	1.12mi
4479 Woodland Dr Unit A New Orleans, LA	2.0	2.5	1300	$1,500	$1.15	23d	1	1.22mi
5823 Tullis Dr New Orleans, LA	3.0	1.5	1637	$1,600	$0.98	23d	1	1.30mi
3151 Plymouth Pl New Orleans, LA	3.0	1.0	1470	$1,700	$1.16	23d	1	1.30mi
5797 Tullis Dr New Orleans, LA	3.0	1.5	1240	$1,600	$1.29	23d	1	1.32mi
5000 Woodland Dr New Orleans, LA	2.0	1.0–2.5	943	$1,457	$1.55	23d	1	1.36mi
3738 Somerset Dr New Orleans, LA	4.0	2.0	2247	$3,000	$1.34	14d	1	1.38mi
3751 Herald St New Orleans, LA	4.0	2.0	1624	$2,150	$1.32	23d	1	1.43mi

Listing history 16 events

1. 2026-06-18
   days on market $160,000 Active 44 DOM
2. 2026-06-17
   days on market $160,000 Active 43 DOM
3. 2026-06-16
   days on market $160,000 Active 42 DOM
4. 2026-06-15
   days on market $160,000 Active 41 DOM
5. 2026-06-13
   pricedays on market $160,000 Active 39 DOM
6. 2026-06-10
   days on market $170,000 Active 36 DOM

   Show marketing remark (553 chars)

   IN NEED OF A LITTLE TLC!!! MOTIVATED SELLERS! <BR><BR> Spacious three-bedroom home offering approximately 2,000 square feet of living area with multiple additions and plenty of room to entertain. Wood burning fireplace for cozy gatherings. Also an additional bonus room.This property features a nice covered patio, backyard space, an enclosed front area along with additional walk in storage or flexible use, plus a spacious laundry room. <BR><BR> Conveniently located just minutes from downtown in an established community.<BR><BR> X Flood Zone<BR><BR>

7. 2026-06-09
   days on market $170,000 Active 35 DOM
8. 2026-06-08
   days on market $170,000 Active 34 DOM
9. 2026-06-07
   days on market $170,000 Active 33 DOM
10. 2026-06-05
    days on market $170,000 Active 30 DOM
11. 2026-06-03
    days on market $170,000 Active 29 DOM
12. 2026-06-02
    days on market $170,000 Active 28 DOM
13. 2026-06-01
    days on market $170,000 Active 27 DOM
14. 2026-05-31
    days on market $170,000 Active 26 DOM
15. 2026-05-05
    listed $170,000 Active 524-char remark

    Show marketing remark (553 chars)

    IN NEED OF A LITTLE TLC!!! MOTIVATED SELLERS! <BR><BR> Spacious three-bedroom home offering approximately 2,000 square feet of living area with multiple additions and plenty of room to entertain. Wood burning fireplace for cozy gatherings. Also an additional bonus room.This property features a nice covered patio, backyard space, an enclosed front area along with additional walk in storage or flexible use, plus a spacious laundry room. <BR><BR> Conveniently located just minutes from downtown in an established community.<BR><BR> X Flood Zone<BR><BR>

16. 2026-05-05
    listed $170,000 Active 507-char remark

    Show marketing remark (553 chars)

    IN NEED OF A LITTLE TLC!!! MOTIVATED SELLERS! <BR><BR> Spacious three-bedroom home offering approximately 2,000 square feet of living area with multiple additions and plenty of room to entertain. Wood burning fireplace for cozy gatherings. Also an additional bonus room.This property features a nice covered patio, backyard space, an enclosed front area along with additional walk in storage or flexible use, plus a spacious laundry room. <BR><BR> Conveniently located just minutes from downtown in an established community.<BR><BR> X Flood Zone<BR><BR>

ⓘ 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 · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 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: $24,398
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$1,598
• − Repairs & maintenance: −$1,952
• − Management: −$1,952
• − Depreciation: −$4,655
• Taxable income: $2,879
• Est. tax owed @ 24.0%: −$691
• After-tax cash flow: $4,517/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): 25,151
• Household income: $62,389
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 707.0

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 0.57)
• Race & ethnicity: Black 62% White 20% Hispanic / Latino 11% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Dominican 2%
• Common ancestry: Lithuanian 4% Hispanic 1%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 9% Vietnamese 2% 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: ▼ -28.08%
• Current HPI: 206.7552
• Rent YoY: ▼ -9.23%
• 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

-5.9% since first listed

4 events — show timeline

• 2026-06-10 Price Changed $160,000 AcadianaMLS
• 2026-06-10 Price Changed $160,000 GSREIN
• 2026-05-05 Listed $170,000 GSREIN
• 2026-05-05 Listed $170,000 AcadianaMLS

Property tax history

-0.6%/yr

Latest (2026): $299 · +0.0% YoY. Source: county tax records.