1241 Lizardi St · New Orleans, LA 70117

$139,999

3 bd · 1.0 ba · 1,836 sqft · SingleFamily public records · 193 Days on market

Built 1991 2,613 sqft lot $76/sqft · 26% below area Est $186k · 25% under

---

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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• 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

New Listing Alert -- 1241 Lizardi Street, New Orleans, Louisiana Looking for a smart investment or a place you can add your personal touch and build equity? Welcome to 1241 Lizardi Street, a contemporary 4-bedroom, 2.5-bath home offering amazing potential in the heart of New Orleans! Built in 1991 and updated just 6 years ago, this two-story home is ready for your vision. With a little TLC, you can easily restore it to its former beauty--while gaining BIG value along the way. * 4 Bedrooms | 2.5 Bathrooms * Master Suite on the First Floor * Three Additional Bedrooms + Full Bath Upstairs * No Carpet -- Laminate Vinyl Tile Throughout * Granite Countertops & Stainless Steel Appliances in Kitchen * Fully Fenced Property + One-Car Garage * 1,800 Square Feet of Living Area This home was previously sold for $225,000 in 2019, and now offered at $139,999--making it a prime opportunity for investors or homeowners ready to customize and capitalize. Whether you're searching for a flip, a rental property, or a home you can fix up and love, this one checks all the boxes. Don't miss your chance--properties with this kind of upside don't come along often!

Key facts

• No carpet
• Granite countertops
• 2,613 sq ft lot

Tags

• NO CARPET
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• FULLY FENCED PROPERTY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $542 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,059/mo this rent would consume 54% of the median local household income ($46k/yr) (locally 1988% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 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.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 193 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y ago; this cycle's ask has dropped $10k (7%) 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 $123,199 (12.0% below list)

Questions for the listing agent

1. It's been on market 193 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: 1.47% ✓
• Cap rate: 11.51%
• Cash-on-cash: 18.64%
• DSCR: 1.83
• GRM: 5.7

CMA / ARV

• ARV (median comp): $185,888
• List price: $139,999
• Delta: -24.69%
• 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
1208 Deslonde St	0.26mi	4/2.0 (+1)	1,680 (-8%)	17mo	$50,000	$30	51
2034 Deslonde St	0.63mi	3/2.0	1,716 (-6%)	6mo	$225,000	$131	50
5428 N Rampart St	0.28mi	4/3.0 (+1)	2,010 (+10%)	10mo	$270,000	$134	50
912 Lizardi St	0.27mi	4/2.5 (+1)	1,985 (+8%)	17mo	$285,000	$144	48
5453 Chartres St	0.52mi	3/2.5	1,630 (-11%)	5mo	$339,000	$208	47
5901 N Derbigny St	0.56mi	3/2.0	1,656 (-10%)	8mo	$83,320	$50	46
2030 Reynes St	0.59mi	3/2.0	1,678 (-9%)	15mo	$245,000	$146	42
5530 Dauphine St	0.45mi	4/2.0 (+1)	2,091 (+14%)	9mo	$207,000	$99	39
1922 Forstall St	0.50mi	3/2.0	1,643 (-10%)	20mo	$125,000	$76	39
1814 Alabo St	0.60mi	4/3.0 (+1)	1,652 (-10%)	13mo	$165,000	$100	31
5451 Douglas St	0.57mi	3/2.0	1,592 (-13%)	20mo	$190,000	$119	30
4319 N Villere St	0.74mi	4/2.0 (+1)	1,644 (-10%)	17mo	$115,000	$70	25

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: 7.2%
• Equity multiple: 1.28×
• Total profit: $10,907
• Equity at exit: $20,874

10-year hold

• IRR: 16.0%
• Equity multiple: 2.28×
• Total profit: $50,124
• Equity at exit: $12,105

Cash invested: $39,200 (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: 5.7×

Monthly cashflow live

• Estimated rent: $2,059 high
• Mortgage (P&I): −$734
• Tax from tax record: −$225 /mo · $2,703/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $542

Break-even live

Break-even rent $1,372

Max offer price $139,999

Occupancy floor 69%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5459 Saint Claude Ave Unit 5461 New Orleans, LA	4.0	2.0	1454	$2,350	$1.62	24d	1	0.23mi
5461 Saint Claude Ave New Orleans, LA	4.0	2.0	1250	$2,350	$1.88	24d	1	0.23mi
1314 Lamanche St New Orleans, LA	4.0	1.0	1300	$2,100	$1.62	16d	1	0.35mi
5450 Burgundy St New Orleans, LA	2.0	1.0	1474	$1,250	$0.85	24d	1	0.35mi
617 Forstall St New Orleans, LA	3.0	2.0	1262	$2,200	$1.74	3d	1	0.46mi
619 Reynes St New Orleans, LA	3.0	2.0	1318	$2,100	$1.59	16d	1	0.47mi
1201 Gordon St New Orleans, LA	3.0	2.5	1367	$1,900	$1.39	17d	1	0.54mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	24d	1	0.72mi
4318 1/2 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	3d	1	0.73mi
4318 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	3d	1	0.73mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	12d	1	0.74mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	24d	1	0.79mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	24d	1	0.80mi
1901 Tupelo St New Orleans, LA	3.0	2.5	1568	$2,300	$1.47	3d	1	0.81mi
1714 Tricou St New Orleans, LA	3.0	2.0	1271	$1,900	$1.49	24d	1	0.82mi
1824 Saint Maurice Ave New Orleans, LA	4.0	2.0	1500	$1,500	$1.00	24d	1	0.82mi
1119 Bartholomew St Unit 1119 New Orleans, LA	2.0	2.0	1410	$2,500	$1.77	44d	1	0.92mi
740 Mazant St New Orleans, LA	2.0	2.0	1750	$2,200	$1.26	24d	1	0.94mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.03mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.03mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.03mi
3900 Royal St Unit 2A New Orleans, LA	2.0	2.0	1300	$3,000	$2.31	3d	1	1.06mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	21d	1	1.18mi
6900 Royal St Arabi, LA	3.0	2.0	1579	$5,888	$3.73	3d	1	1.18mi
2012 Esteban St Arabi, LA	3.0	2.0	1466	$2,500	$1.71	10d	1	1.23mi
5624-5626 Saint Claude ST New Orleans, LA	4.0	3.0	1521	$2,300	$1.51	24d	1	1.28mi
3431 Chartres St #6 New Orleans, LA	2.0	2.5	1262	$2,750	$2.18	14d	1	1.28mi
438 Friscoville Ave Arabi, LA	3.0	2.0	1500	$3,200	$2.13	3d	1	1.29mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	24d	1	1.30mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	24d	1	1.33mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	24d	1	1.38mi
1239 Center St Arabi, LA	4.0	2.0	1922	$3,500	$1.82	3d	1	1.39mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	3d	1	1.42mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	16d	1	1.42mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	24d	1	1.45mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	3d	1	1.50mi

Listing history 27 events

1. 2026-06-18
   days on market $139,999 Active 193 DOM
2. 2026-06-17
   days on market $139,999 Active 192 DOM
3. 2026-06-16
   days on market $139,999 Active 191 DOM
4. 2026-06-15
   days on market $139,999 Active 190 DOM
5. 2026-06-13
   days on market $139,999 Active 188 DOM
6. 2026-06-10
   days on market $139,999 Active 185 DOM
7. 2026-06-09
   days on market $139,999 Active 184 DOM
8. 2026-06-08
   days on market $139,999 Active 183 DOM
9. 2026-06-07
   days on market $139,999 Active 182 DOM
10. 2026-06-05
    days on market $139,999 Active 179 DOM
11. 2026-06-03
    days on market $139,999 Active 178 DOM
12. 2026-06-02
    days on market $139,999 Active 177 DOM
13. 2026-06-01
    days on market $139,999 Active 176 DOM
14. 2026-05-31
    days on market $139,999 Active 175 DOM
15. 2026-02-22
    price $139,999 1160-char remark

    Show marketing remark (1160 chars)

    New Listing Alert -- 1241 Lizardi Street, New Orleans, Louisiana Looking for a smart investment or a place you can add your personal touch and build equity? Welcome to 1241 Lizardi Street, a contemporary 4-bedroom, 2.5-bath home offering amazing potential in the heart of New Orleans! Built in 1991 and updated just 6 years ago, this two-story home is ready for your vision. With a little TLC, you can easily restore it to its former beauty--while gaining BIG value along the way. * 4 Bedrooms | 2.5 Bathrooms * Master Suite on the First Floor * Three Additional Bedrooms + Full Bath Upstairs * No Carpet -- Laminate Vinyl Tile Throughout * Granite Countertops & Stainless Steel Appliances in Kitchen * Fully Fenced Property + One-Car Garage * 1,800 Square Feet of Living Area This home was previously sold for $225,000 in 2019, and now offered at $139,999--making it a prime opportunity for investors or homeowners ready to customize and capitalize. Whether you're searching for a flip, a rental property, or a home you can fix up and love, this one checks all the boxes. Don't miss your chance--properties with this kind of upside don't come along often!

16. 2026-01-08
    price $147,000 1160-char remark

    Show marketing remark (1160 chars)

    New Listing Alert -- 1241 Lizardi Street, New Orleans, Louisiana Looking for a smart investment or a place you can add your personal touch and build equity? Welcome to 1241 Lizardi Street, a contemporary 4-bedroom, 2.5-bath home offering amazing potential in the heart of New Orleans! Built in 1991 and updated just 6 years ago, this two-story home is ready for your vision. With a little TLC, you can easily restore it to its former beauty--while gaining BIG value along the way. * 4 Bedrooms | 2.5 Bathrooms * Master Suite on the First Floor * Three Additional Bedrooms + Full Bath Upstairs * No Carpet -- Laminate Vinyl Tile Throughout * Granite Countertops & Stainless Steel Appliances in Kitchen * Fully Fenced Property + One-Car Garage * 1,800 Square Feet of Living Area This home was previously sold for $225,000 in 2019, and now offered at $139,999--making it a prime opportunity for investors or homeowners ready to customize and capitalize. Whether you're searching for a flip, a rental property, or a home you can fix up and love, this one checks all the boxes. Don't miss your chance--properties with this kind of upside don't come along often!

17. 2025-12-07
    listed $150,000 Active 1160-char remark

    Show marketing remark (1160 chars)

    New Listing Alert -- 1241 Lizardi Street, New Orleans, Louisiana Looking for a smart investment or a place you can add your personal touch and build equity? Welcome to 1241 Lizardi Street, a contemporary 4-bedroom, 2.5-bath home offering amazing potential in the heart of New Orleans! Built in 1991 and updated just 6 years ago, this two-story home is ready for your vision. With a little TLC, you can easily restore it to its former beauty--while gaining BIG value along the way. * 4 Bedrooms | 2.5 Bathrooms * Master Suite on the First Floor * Three Additional Bedrooms + Full Bath Upstairs * No Carpet -- Laminate Vinyl Tile Throughout * Granite Countertops & Stainless Steel Appliances in Kitchen * Fully Fenced Property + One-Car Garage * 1,800 Square Feet of Living Area This home was previously sold for $225,000 in 2019, and now offered at $139,999--making it a prime opportunity for investors or homeowners ready to customize and capitalize. Whether you're searching for a flip, a rental property, or a home you can fix up and love, this one checks all the boxes. Don't miss your chance--properties with this kind of upside don't come along often!

18. 2020-01-03
    soldstatus $225,000
19. 2018-10-25
    soldstatus $110,000
20. 2018-10-18
    historical
21. 2018-10-16
    price $75,000
22. 2018-10-11
    listed $75,000
23. 2018-10-11
    listed $85,000 Active
24. 2003-05-05
    soldstatus $105,000
25. 2003-02-15
    listed $115,000
26. 2003-02-15
    listed $115,000
27. 1990-08-10
    soldstatus $14,500

ⓘ 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: $2,703 · $225/mo
• Projected year-2 tax: $2,703 · $225/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 · 22 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,707
• − Mortgage interest: −$7,842
• − Property taxes: −$2,703
• − Insurance: −$1,497
• − Repairs & maintenance: −$1,977
• − Management: −$1,977
• − Depreciation: −$4,073
• Taxable income: $4,639
• Est. tax owed @ 24.0%: −$1,113
• After-tax cash flow: $5,395/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

+865.5% since first listed

13 events — show timeline

• 2026-02-22 Price Changed $139,999 AcadianaMLS
• 2026-01-08 Price Changed $147,000 AcadianaMLS
• 2025-12-07 Listed $150,000 AcadianaMLS
• 2020-01-03 Sold (Public Records) $225,000 Public Records
• 2018-10-25 Sold (Public Records) $110,000 Public Records
• 2018-10-18 Listing Removed — GSREIN
• 2018-10-16 Price Changed $75,000 GSREIN
• 2018-10-11 Listed $85,000 GSREIN
• 2018-10-11 Listed $75,000 AcadianaMLS
• 2003-05-05 Sold (MLS) $105,000 GSREIN
• 2003-02-15 Listed $115,000 GSREIN
• 2003-02-15 Listed $115,000 AcadianaMLS
• 1990-08-10 Sold (Public Records) $14,500 Public Records

Property tax history

+20.5%/yr

Latest (2026): $2,703 · +1.2% YoY. Source: county tax records.