2516 Delachaise St · New Orleans, LA 70115

$135,000

3 bd · 1.5 ba · 1,550 sqft · SingleFamily public records · 19 Days on market

Built 1924

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

INVESTOR SPECIAL! Freret/Milan Neighborhood Redevelopment Opportunity on Oversized Lot! Close proximity to the Freret Corridor w/ entertainment and dining. 3 Bedroom/2 Bath home situated on a double wide lot (measures 4,092 sq.ft.) w/ plenty of off-street parking. Property is in need of a COMPLETE/FULL RENOVATION/REMODEL. Property being SOLD AS IS. Utilities are OFF and will remain off for inspections. The Seller will make no repairs. Renovations/new construction all around = synergy! Coveted X Flood Zone. Bring your imagination!

Key facts

• Coveted x flood zone
• Off street parking
• Oversized lot

Tags

• OVERSIZED LOT
• OFF STREET PARKING
• COMPLETE FULL RENOVATION
• COVETED X FLOOD ZONE

Property features AI

Finance

• Other: Listing agent: Jacob Freedman (504-603-6577); Listing broker: FQR Realtors (504-949-5400)
• Financial info: Financial details not provided
• HOA & community: HOA information not provided

Exterior

• Parking: Driveway; Off-street parking; Three or more parking spaces
• Security: No specific security features listed
• Utilities: Public water; Public sewer
• Home design: Single-story; Raised foundation; Shingle roof; Frame construction; Property faces unspecified direction
• Construction: Built with frame construction; Shingle roof; Raised foundation; Property described as in poor condition
• Exterior features: Fenced yard; City lot; Oversized lot; Lot dimensions approximately 63 x 80 x 56 x 31 x 13 x 31

Interior

• Kitchen: Kitchen details not specified
• Bedrooms: Bedrooms not specified
• Flooring: Flooring details not specified
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating present (window unit); Window unit cooling
• Interior features: Total of 3 rooms; Property reported in poor condition
• Laundry & utility: Laundry details not specified

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.7% 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 $933 of loan paydown is wiped out by about $4k 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 19 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 4y 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 $104k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.52% ✓
• Cap rate: 11.67%
• Cash-on-cash: 19.20%
• DSCR: 1.85
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $373,550
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2228 Delachaise St	0.18mi	3/2.0	1,575 (+2%)	2mo	$380,000	$241	85
3533 S Libertyy St	0.14mi	3/2.0	1,666 (+8%)	3mo	$255,000	$153	76
2609 General Pershing St	0.28mi	2/2.0 (-1)	1,508 (-3%)	4mo	$362,000	$240	72
2321 Seventh St	0.26mi	3/2.0	1,425 (-8%)	2mo	$325,000	$228	70
4119 Clara St	0.25mi	3/2.0	1,404 (-9%)	2mo	$400,000	$285	69
3205 S Saratoga St	0.34mi	3/2.5	1,677 (+8%)	2mo	$425,000	$253	65
2205 Valence St	0.61mi	3/2.0	1,469 (-5%)	1mo	$425,000	$289	60
2107 Harmony St	0.35mi	4/2.0 (+1)	1,730 (+12%)	1mo	$322,000	$186	57
2014 Philip St	0.72mi	3/2.0	1,476 (-5%)	3mo	$310,000	$210	54
4612 S Prieur St	0.73mi	3/2.0	1,384 (-11%)	2mo	$390,000	$282	45
3701 Carondelet St	0.55mi	2/2.0 (-1)	1,780 (+15%)	1mo	$686,500	$386	42
3140 Upperline St	0.75mi	3/2.5	1,744 (+12%)	2mo	$410,000	$235	39

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: 4.6%
• Equity multiple: 1.17×
• Total profit: $6,521
• Equity at exit: $20,129

10-year hold

• IRR: 10.8%
• Equity multiple: 1.72×
• Total profit: $27,111
• Equity at exit: $11,672

Cash invested: $37,800 (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: 5.5×

Monthly cashflow live

• Estimated rent: $2,048 high
• Mortgage (P&I): −$708
• Tax from tax record: −$249 /mo · $2,991/yr
• Insurance: −$56
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $538

Break-even live

Break-even rent $1,367

Max offer price $135,000

Occupancy floor 69%

Sensitivity live

Price	-10% $615	-5% $576	+0% $538	+5% $500	+10% $462
Rent	-10% $376	-5% $457	+0% $538	+5% $619	+10% $700
Rate	-1.0pp $606	-0.5pp $573	base $538	+0.5pp $503	+1.0pp $468

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: $33,750
• Closing costs: $4,050
• 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
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
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	22d	1	0.33mi
4011 Danneel St New Orleans, LA	2.0	2.0	1200	$2,495	$2.08	24d	1	0.35mi
3212 Danneel St New Orleans, LA	3.0	2.0	1945	$2,000	$1.03	24d	1	0.41mi
3035 Delachaise St New Orleans, LA	3.0	1.0	1968	$1,750	$0.89	2d	1	0.41mi
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	1250	$2,300	$1.84	2d	1	0.46mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1232	$2,300	$1.87	24d	1	0.46mi
3429 Baronne St New Orleans, LA	3.0	2.5	1600	$2,500	$1.56	44d	1	0.47mi
2608 Magnolia St New Orleans, LA	4.0	2.5	1950	$3,200	$1.64	44d	1	0.47mi
3439 Baronne St New Orleans, LA	2.0	2.0	1492	$3,500	$2.35	16d	1	0.47mi
4435 Loyola Ave New Orleans, LA	3.0	2.0	1973	$2,900	$1.47	16d	1	0.47mi
4213 Dryades St New Orleans, LA	4.0	2.0	2000	$2,800	$1.40	24d	1	0.47mi
2833 S Derbigny St New Orleans, LA	3.0	2.0	1500	$1,795	$1.20	24d	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
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	21d	1	0.55mi
1636 Peniston St Unit B New Orleans, LA	3.0	2.0	1950	$1,700	$0.87	21d	1	0.56mi
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
1719 Seventh St Unit A New Orleans, LA	2.0	1.0	1093	$1,525	$1.40	24d	1	0.58mi
2227 Second St New Orleans, LA	2.0	2.0	1100	$1,900	$1.73	24d	1	0.59mi
2225 2nd St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	24d	1	0.59mi
2705 Dryades St New Orleans, LA	2.0	1.0	1100	$2,000	$1.82	24d	1	0.59mi
1706 Seventh St Unit B New Orleans, LA	2.0	1.0	1158	$1,550	$1.34	24d	1	0.59mi
2625 Upperline St New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	4d	1	0.60mi

Listing history 15 events

1. 2026-06-18
   days on market $135,000 Active 19 DOM
2. 2026-06-17
   days on market $135,000 Active 18 DOM
3. 2026-06-16
   days on market $135,000 Active 17 DOM
4. 2026-06-15
   days on market $135,000 Active 16 DOM
5. 2026-06-13
   days on market $135,000 Active 14 DOM
6. 2026-06-10
   days on market $135,000 Active 11 DOM
7. 2026-06-09
   days on market $135,000 Active 10 DOM
8. 2026-06-08
   days on market $135,000 Active 9 DOM
9. 2026-06-07
   days on market $135,000 Active 8 DOM
10. 2026-06-05
    days on market $135,000 Active 5 DOM
11. 2026-06-03
    days on market $135,000 Active 4 DOM
12. 2026-06-02
    days on market $135,000 Active 3 DOM
13. 2026-06-01
    days on market $135,000 Active 2 DOM
14. 2026-05-31
    remarks 537-char remark
15. 2026-05-31
    listed $135,000 Active 1 DOM

ⓘ 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: $2,991 · $249/mo
• Projected year-2 tax: $2,991 · $249/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) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 20 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: $24,579
• − Mortgage interest: −$7,562
• − Property taxes: −$2,991
• − Insurance: −$1,472
• − Repairs & maintenance: −$1,966
• − Management: −$1,966
• − Depreciation: −$3,927
• Taxable income: $4,693
• Est. tax owed @ 24.0%: −$1,126
• After-tax cash flow: $5,332/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

+264.9% since first listed

23 events — show timeline

• 2026-05-30 Listed $135,000 AcadianaMLS
• 2026-05-30 Listed $135,000 GSREIN
• 2025-08-01 Pending — GSREIN
• 2025-07-31 Sold (MLS) $104,000 GSREIN
• 2025-03-20 Price Changed $174,900 GSREIN
• 2025-03-19 Price Changed $174,900 AcadianaMLS
• 2025-02-27 Price Changed $189,000 AcadianaMLS
• 2025-02-18 Price Changed $189,000 GSREIN
• 2025-01-07 Price Changed $199,000 AcadianaMLS
• 2025-01-07 Price Changed $199,000 GSREIN
• 2024-11-12 Listed $219,000 AcadianaMLS
• 2024-11-12 Listed $219,000 GSREIN
• 2024-10-08 Price Changed $284,500 AcadianaMLS
• 2024-10-08 Price Changed $284,500 GSREIN
• 2024-09-28 Listed $325,000 AcadianaMLS
• 2023-09-19 Listed $298,000 AcadianaMLS
• 2023-08-08 Listed $309,900 AcadianaMLS
• 2023-06-01 Listed $275,000 AcadianaMLS
• 2022-09-09 Sold (MLS) $210,000 GSREIN
• 2022-08-15 Pending — GSREIN
• 2022-08-05 Listed $210,000 GSREIN
• 2022-08-05 Listed $210,000 AcadianaMLS
• 1994-07-15 Sold (Public Records) $37,000 Public Records

Property tax history

+43.7%/yr

Latest (2026): $2,991 · +1.1% YoY. Source: county tax records.