1868 N Galvez St · New Orleans, LA 70117

$89,900

3 bd · 2.0 ba · 1,260 sqft · SingleFamily public records · 47 Days on market

Built 1940 $71/sqft · 44% below area Est $167k · 46% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors ! this home in the Heart of the 7th wd is the perfect home to start your portfolio or add too! It needs some TLC But not a total renovation . Situated on a 168 ft deep lot It also has a detached structure that approx 600sqft , that can be a build out for another unit or a work shop ! With Soooo much to offer This Will Not Last Long! Bring All offers !

Key facts

• Detached structure
• 168 ft deep lot
• Work shop

Tags

• DETACHED STRUCTURE
• 168 FT DEEP LOT
• BUILD OUT FOR ANOTHER UNIT
• WORK SHOP

Property features AI

Exterior

• Parking: Three or more parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story; Raised foundation; Average condition
• Construction: Brick construction; Shingle roof
• Exterior features: City lot; Oversized lot

Interior

• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heating present; Cooling present
• Interior features: Gas fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $597 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.2% 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 rising (+2.5%/yr); 581 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 45% of the median local income ($46k/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 $622 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $28k; list at $90k implies a 221% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 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 1940 — 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: 1.90% ✓
• Cap rate: 15.16%
• Cash-on-cash: 31.65%
• DSCR: 2.41
• GRM: 4.4

CMA / ARV

• ARV (median comp): $166,714
• List price: $89,900
• Delta: -46.08%
• 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
1625 Frenchmen St	0.43mi	3/2.0	1,252 (-1%)	5mo	$170,000	$136	75
2531 Aubry St	0.57mi	3/2.0	1,231 (-2%)	0mo	$270,000	$219	70
1520 N Dorgenois St	0.65mi	3/1.0	1,258 (-0%)	1mo	$179,000	$142	64
1230 Annette St	0.64mi	3/2.0	1,309 (+4%)	2mo	$280,000	$214	62
1311 Frenchmen St	0.61mi	3/2.0	1,300 (+3%)	7mo	$225,000	$173	60
1735 Touro St	0.32mi	4/2.5 (+1)	1,368 (+9%)	6mo	$186,000	$136	58
1609 Marais St	0.60mi	3/2.0	1,345 (+7%)	4mo	$245,000	$182	57
1561 N Broad St	0.72mi	2/2.0 (-1)	1,302 (+3%)	2mo	$348,000	$267	54
1744 Duels St	0.56mi	3/1.0	1,141 (-9%)	1mo	$138,000	$121	54
2227 D'abadie St	0.36mi	3/2.0	1,080 (-14%)	7mo	$215,000	$199	54
1539 N Broad St	0.75mi	2/1.0 (-1)	1,222 (-3%)	3mo	$177,500	$145	49
1601 Mandeville St	0.63mi	3/1.0	1,118 (-11%)	2mo	$155,000	$139	46

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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: 22.2%
• Equity multiple: 1.90×
• Total profit: $22,720
• Equity at exit: $13,404

10-year hold

• IRR: 29.9%
• Equity multiple: 3.61×
• Total profit: $65,673
• Equity at exit: $7,773

Cash invested: $25,172 (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 70117

• Rents YoY: 2.5%
• Active inventory: 581
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,707 high
• Mortgage (P&I): −$471
• Tax from tax record: −$176 /mo · $2,111/yr
• Insurance: −$37
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $597

Break-even live

Break-even rent $951

Max offer price $89,900

Occupancy floor 60%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	0.11mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	0.11mi
2109 A P Tureaud Ave New Orleans, LA	2.0	1.0	936	$1,450	$1.55	14d	1	0.17mi
2239 Saint Anthony St New Orleans, LA	2.0	1.0	900	$1,100	$1.22	23d	1	0.19mi
1811 New Orleans St New Orleans, LA	2.0	2.0	900	$1,700	$1.89	3d	1	0.19mi
2311 Saint Anthony St Unit 1A New Orleans, LA	2.0	1.0	1100	$1,450	$1.32	23d	1	0.22mi
1730 Allen St New Orleans, LA	2.0	1.0	920	$1,650	$1.79	23d	1	0.22mi
2338 Annette St Unit 1 New Orleans, LA	3.0	1.0	1150	$1,400	$1.22	19d	1	0.22mi
3110 Pauger St New Orleans, LA	2.0	2.0	992	$1,300	$1.31	23d	1	0.29mi
1910 Elysian Fields Ave New Orleans, LA	3.0	1.0	1000	$1,450	$1.45	23d	1	0.37mi
1735 N Tonti St New Orleans, LA	3.0	1.0	1197	$1,650	$1.38	23d	1	0.37mi
2115 Elysian Fields Ave Unit 2115 New Orleans, LA	3.0	1.0	1100	$1,450	$1.32	23d	1	0.41mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	3d	1	0.41mi
1434 Annette St New Orleans, LA	2.0	1.0	1536	$1,700	$1.11	3d	1	0.41mi
1434 Annette St New Orleans, LA	2.0	1.0	1536	$1,700	$1.11	3d	1	0.41mi
1996 Hope St New Orleans, LA	3.0	1.0	910	$1,550	$1.70	3d	1	0.43mi
1923 N Robertson St New Orleans, LA	3.0	2.0	1051	$1,950	$1.86	3d	1	0.44mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	23d	1	0.45mi
1634 N Rocheblave St New Orleans, LA	2.0	1.0	900	$1,400	$1.56	23d	1	0.48mi
2512 Elysian Fields Ave Unit 1 New Orleans, LA	2.0	1.0	879	$1,400	$1.59	17d	1	0.49mi
1710 Marigny St New Orleans, LA	3.0	2.0	1120	$1,750	$1.56	23d	1	0.51mi
2310 George Nick Connor Dr New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	23d	1	0.51mi
2024 Mandeville St New Orleans, LA	2.0	2.0	1072	$1,950	$1.82	23d	1	0.52mi
1472 N Claiborne Ave New Orleans, LA	3.0	1.0	1312	$1,900	$1.45	16d	1	0.54mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	23d	1	0.55mi
2329 Laharpe St New Orleans, LA	3.0	1.0	1250	$1,000	$0.80	19d	1	0.55mi
2817 Annette St New Orleans, LA	3.0	1.0	1100	$1,350	$1.23	23d	1	0.55mi
1726 Mandeville St New Orleans, LA	2.0	1.0	920	$1,300	$1.41	23d	1	0.56mi
1922 Industry St Unit B New Orleans, LA	2.0	2.0	963	$1,325	$1.38	2d	1	0.57mi
2269 N Derbigny St New Orleans, LA	2.0	2.0	1000	$1,665	$1.67	17d	1	0.57mi
2269 N Derbigny St New Orleans, LA	2.0	2.0	1000	$1,675	$1.68	19d	1	0.57mi
2525 D'Abadie St New Orleans, LA	2.0	1.0	960	$1,400	$1.46	19d	1	0.57mi
2525 D'Abadie St Unit 2525 New Orleans, LA	2.0	1.0	1000	$1,500	$1.50	19d	1	0.57mi
2271 N Derbigny St New Orleans, LA	2.0	2.0	1000	$1,585	$1.58	17d	1	0.57mi
1820 Kerlerec St New Orleans, LA	2.0	1.0	950	$1,600	$1.68	17d	1	0.57mi
1435 N Derbigny St New Orleans, LA	2.0	2.0	1040	$1,600	$1.54	23d	1	0.57mi
1601 Marigny St Unit 1603 New Orleans, LA	3.0	2.0	988	$1,099	$1.11	3d	1	0.58mi
1603 Marigny St New Orleans, LA	3.0	2.0	988	$1,099	$1.11	3d	1	0.58mi
2048 Florida Ave New Orleans, LA	2.0	1.0	1200	$2,000	$1.67	17d	1	0.58mi
1327 Frenchmen St Unit B New Orleans, LA	2.0	2.5	1175	$1,900	$1.62	23d	1	0.59mi

Listing history 17 events

1. 2026-06-18
   days on market $89,900 Active 47 DOM
2. 2026-06-17
   days on market $89,900 Active 46 DOM
3. 2026-06-16
   days on market $89,900 Active 45 DOM
4. 2026-06-15
   days on market $89,900 Active 44 DOM
5. 2026-06-13
   days on market $89,900 Active 42 DOM
6. 2026-06-10
   days on market $89,900 Active 39 DOM
7. 2026-06-09
   days on market $89,900 Active 38 DOM
8. 2026-06-08
   days on market $89,900 Active 37 DOM
9. 2026-06-07
   days on market $89,900 Active 36 DOM
10. 2026-06-05
    days on market $89,900 Active 33 DOM
11. 2026-06-03
    days on market $89,900 Active 32 DOM
12. 2026-06-02
    days on market $89,900 Active 31 DOM
13. 2026-06-01
    days on market $89,900 Active 30 DOM
14. 2026-05-31
    days on market $89,900 Active 29 DOM
15. 2026-05-02
    listed $89,900 Active 385-char remark

    Show marketing remark (375 chars)

    Calling all investors ! this home in the Heart of the 7th wd is the perfect home to start your portfolio or add too! It needs some TLC But not a total renovation . Situated on a 168 ft deep lot It also has a detached structure that approx 600sqft , that can be a build out for another unit or a work shop ! With Soooo much to offer This Will Not Last Long! Bring All offers !

16. 2026-05-02
    listed $89,900 Active 375-char remark

    Show marketing remark (375 chars)

    Calling all investors ! this home in the Heart of the 7th wd is the perfect home to start your portfolio or add too! It needs some TLC But not a total renovation . Situated on a 168 ft deep lot It also has a detached structure that approx 600sqft , that can be a build out for another unit or a work shop ! With Soooo much to offer This Will Not Last Long! Bring All offers !

17. 1985-09-25
    soldstatus $28,000

ⓘ 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: $2,111 · $176/mo
• Projected year-2 tax: $2,111 · $176/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: $20,488
• − Mortgage interest: −$5,036
• − Property taxes: −$2,111
• − Insurance: −$1,247
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − Depreciation: −$2,615
• Taxable income: $6,200
• Est. tax owed @ 24.0%: −$1,488
• After-tax cash flow: $5,682/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): 25,652
• Household income: $45,764
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1988.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 30% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 5% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% 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: ▼ -177.22%
• Current HPI: 184.6061
• Rent YoY: ▲ 2.49%
• 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

+221.1% since first listed

3 events — show timeline

• 2026-05-02 Listed $89,900 AcadianaMLS
• 2026-05-02 Listed $89,900 GSREIN
• 1985-09-25 Sold (Public Records) $28,000 Public Records

Property tax history

+6.7%/yr

Latest (2026): $2,111 · +1.0% YoY. Source: county tax records.