2230 N Roman St · New Orleans, LA 70117

$159,500

1 bd · 1.0 ba · 1,015 sqft · SingleFamily public records · 118 Days on market

Built 1950 3,201 sqft lot $157/sqft · 20% below area Est $198k · 19% under

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Why this score? — see what drove the C- 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 +17.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +4.0/10.0
• 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

**Corner Property with Parking & 2023 Roof!** Welcome to 2230 N. Roman Street, a charming single-family home on an extra-large 100' x 30' corner lot in the heart of New Orleans. Featuring a new roof (2023) and new pilings (2018), this property offers peace of mind along with classic New Orleans living. Property Highlights: Two full bedrooms & one full bath, Convenient driveway parking on a corner lot, Private courtyard for outdoor living, Washer/dryer hookups for added functionality, Well-maintained and move-in ready. With its combination of updates, space and location, this home is an excellent opportunity to own a solid property in a growing neighborhood. **Property currently leased, Please allow Notice to Show** Make Every Move Wurth It!

Key facts

• New pilings
• Washer dryer hookups
• Move in ready

Tags

• CORNER PROPERTY
• NEW ROOF
• NEW PILINGS
• PRIVATE COURTYARD
• WASHER DRYER HOOKUPS
• MOVE IN READY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $49 ($584/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (10.0% below list).
• Recommended offer: $144k (10.0% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.3% 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 rising (+2.5%/yr); 588 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 38% 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 $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 118 days — a 9% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 8y 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 $85k; list at $160k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — 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 $143,562 (10.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 7.16%
• Cash-on-cash: 3.09%
• DSCR: 1.14
• GRM: 9.3

CMA / ARV

• ARV (median comp): $197,881
• List price: $159,500
• Delta: -19.40%
• 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
1313 Marigny St	0.32mi	2/1.0 (+1)	1,000 (-2%)	14mo	$90,000	$90	66
2037 Saint Anthony St	0.39mi	2/1.0 (+1)	960 (-5%)	4mo	$126,000	$131	64
2308 Burgundy St	0.64mi	1/1.0	1,042 (+3%)	8mo	$242,000	$232	59
2623 N Villere	0.53mi	2/1.0 (+1)	1,078 (+6%)	6mo	$95,000	$88	55
1821 Urquhart St	0.46mi	2/1.0 (+1)	1,105 (+9%)	9mo	$285,000	$258	52
1329 Music St	0.42mi	2/1.0 (+1)	1,100 (+8%)	14mo	$70,000	$64	50
1207 Marigny St	0.40mi	2/1.0 (+1)	1,154 (+14%)	14mo	$280,000	$243	42
2423 Arts St	0.60mi	2/1.0 (+1)	896 (-12%)	13mo	$95,000	$106	37
2719 N Roman St	0.59mi	2/1.0 (+1)	898 (-12%)	21mo	$110,210	$123	31
1548 N Roman St	0.72mi	2/2.0 (+1)	940 (-7%)	21mo	$225,000	$239	28
2116 New Orleans St	0.62mi	2/2.0 (+1)	1,156 (+14%)	15mo	$90,000	$78	26
912 Frenchmen St	0.62mi	2/1.5 (+1)	1,166 (+15%)	23mo	$350,000	$300	20

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-23,468
• Equity at exit: $23,782

10-year hold

• IRR: -7.0%
• Equity multiple: 0.57×
• Total profit: $-19,376
• Equity at exit: $13,791

Cash invested: $44,660 (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: 588
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,436 high
• Mortgage (P&I): −$836
• Tax from tax record: −$116 /mo · $1,394/yr
• Insurance: −$66
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $49

Break-even live

Break-even rent $1,374

Max offer price $159,500

Occupancy floor 92%

Sensitivity live

Price	-10% $139	-5% $94	+0% $49	+5% $4	+10% $-42
Rent	-10% $-65	-5% $-8	+0% $49	+5% $105	+10% $162
Rate	-1.0pp $129	-0.5pp $89	base $49	+0.5pp $7	+1.0pp $-35

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: $39,875
• Closing costs: $4,785
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1726 Mandeville St New Orleans, LA	2.0	1.0	920	$1,300	$1.41	26d	1	0.06mi
2269 N Prieur St New Orleans, LA	2.0	1.0	756	$1,250	$1.65	26d	1	0.08mi
2269 N Derbigny St New Orleans, LA	2.0	2.0	1000	$1,665	$1.67	19d	1	0.08mi
2269 N Derbigny St New Orleans, LA	2.0	2.0	1000	$1,675	$1.68	21d	1	0.08mi
2271 N Derbigny St New Orleans, LA	2.0	2.0	1000	$1,585	$1.58	19d	1	0.09mi
2024 Mandeville St New Orleans, LA	2.0	2.0	1072	$1,950	$1.82	26d	1	0.17mi
2123 Marigny St New Orleans, LA	1.0	1.0	700	$1,000	$1.43	5d	1	0.23mi
1810 Touro St New Orleans, LA	2.0	1.0	700	$1,140	$1.63	26d	1	0.25mi
1638 Music St New Orleans, LA	2.0	1.0	900	$1,085	$1.21	17d	1	0.27mi
2129 Spain St New Orleans, LA	2.0	1.0	861	$1,500	$1.74	26d	1	0.28mi
2120 Saint Roch Ave Unit 2120 New Orleans, LA	2.0	1.0	1000	$1,650	$1.65	26d	1	0.29mi
2134 Saint Roch Ave New Orleans, LA	2.0	2.0	850	$1,500	$1.76	19d	1	0.31mi
1327 Frenchmen St Unit B New Orleans, LA	2.0	2.5	1175	$1,900	$1.62	26d	1	0.36mi
2516 N Roman St Unit 2518 New Orleans, LA	2.0	1.0	800	$1,500	$1.88	5d	1	0.37mi
2229 Saint Roch Ave New Orleans, LA	2.0	1.5	1200	$1,600	$1.33	22d	1	0.38mi
2103 Urquhart St New Orleans, LA	2.0	1.0	940	$1,299	$1.38	26d	1	0.39mi
1301 Frenchmen St Unit 2B New Orleans, LA	2.0	1.0	940	$1,299	$1.38	26d	1	0.39mi
1239 Saint Roch Ave New Orleans, LA	2.0	2.0	1500	$2,150	$1.43	5d	1	0.44mi
2406 Saint Roch Ave New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	19d	1	0.46mi
2104 Marais St Unit 2106 New Orleans, LA	2.0	2.0	936	$2,000	$2.14	26d	1	0.48mi
1136 Frenchmen St New Orleans, LA	2.0	1.0	1000	$1,550	$1.55	5d	1	0.48mi
1136 Frenchmen St New Orleans, LA	2.0	1.0	1000	$1,550	$1.55	5d	1	0.48mi
2239 Saint Anthony St New Orleans, LA	2.0	1.0	900	$1,100	$1.22	26d	1	0.49mi
1134 Frenchmen St New Orleans, LA	2.0	1.0	900	$1,550	$1.72	5d	1	0.49mi
1134 Frenchmen St New Orleans, LA	2.0	1.0	900	$1,550	$1.72	5d	1	0.49mi
2423 Saint Roch Ave New Orleans, LA	2.0	1.0	925	$1,350	$1.46	26d	1	0.49mi
2311 Saint Anthony St Unit 1A New Orleans, LA	2.0	1.0	1100	$1,450	$1.32	26d	1	0.49mi
2311 Saint Anthony St Unit 1B New Orleans, LA	2.0	1.0	750	$1,350	$1.80	26d	1	0.49mi
2551 N Tonti St New Orleans, LA	2.0	2.0	800	$1,450	$1.81	26d	1	0.50mi
2238 Painters St New Orleans, LA	2.0	1.0	896	$1,300	$1.45	26d	1	0.51mi
2512 Elysian Fields Ave Unit C New Orleans, LA	2.0	1.0	800	$1,300	$1.62	5d	1	0.51mi
2512 Elysian Fields Ave Unit 1 New Orleans, LA	2.0	1.0	879	$1,400	$1.59	19d	1	0.51mi
2512 Elysian Fields Ave Unit C New Orleans, LA	2.0	1.0	800	$1,300	$1.62	5d	1	0.51mi
1909 Pauger St New Orleans, LA	2.0	1.0	868	$1,300	$1.50	26d	1	0.51mi
3110 Pauger St New Orleans, LA	2.0	2.0	992	$1,300	$1.31	26d	1	0.53mi
1730 Allen St New Orleans, LA	2.0	1.0	920	$1,650	$1.79	26d	1	0.53mi
2649 N Rocheblave St New Orleans, LA	2.0	2.0	806	$1,200	$1.49	26d	1	0.53mi
2625 Urquhart St New Orleans, LA	2.0	1.0	810	$1,100	$1.36	19d	1	0.55mi
1811 New Orleans St New Orleans, LA	2.0	2.0	900	$1,700	$1.89	5d	1	0.56mi
2434 Saint Anthony St New Orleans, LA	2.0	1.0	768	$1,300	$1.69	17d	1	0.59mi

Listing history 38 events

1. 2026-06-22
   days on market $159,500 Active 118 DOM
2. 2026-06-21
   days on market $159,500 Active 117 DOM
3. 2026-06-18
   days on market $159,500 Active 114 DOM
4. 2026-06-17
   days on market $159,500 Active 113 DOM
5. 2026-06-16
   days on market $159,500 Active 112 DOM
6. 2026-06-15
   days on market $159,500 Active 111 DOM
7. 2026-06-13
   days on market $159,500 Active 109 DOM
8. 2026-06-10
   days on market $159,500 Active 106 DOM
9. 2026-06-09
   days on market $159,500 Active 105 DOM
10. 2026-06-08
    days on market $159,500 Active 104 DOM
11. 2026-06-07
    days on market $159,500 Active 103 DOM
12. 2026-06-05
    days on market $159,500 Active 100 DOM
13. 2026-06-03
    days on market $159,500 Active 99 DOM
14. 2026-06-02
    days on market $159,500 Active 98 DOM
15. 2026-06-01
    days on market $159,500 Active 97 DOM
16. 2026-05-31
    days on market $159,500 Active 96 DOM
17. 2026-02-24
    listed $159,500 Active 758-char remark

    Show marketing remark (777 chars)

    * * Corner Property with Parking & 2023 Roof! * * Welcome to 2230 N. Roman Street, a charming single-family home on an extra-large 100' x 30' corner lot in the heart of New Orleans. Featuring a new roof (2023) and new pilings (2018), this property offers peace of mind along with classic New Orleans living. Property Highlights: Two full bedrooms & one full bath, Convenient driveway parking on a corner lot, Private courtyard for outdoor living, Washer/dryer hookups for added functionality, Well-maintained and move-in ready. With its combination of updates, space and location, this home is an excellent opportunity to own a solid property in a growing neighborhood. * * Property currently leased, Please allow Notice to Show * * Make Every Move Wurth It!

18. 2026-02-24
    listed $159,500 Active 777-char remark

    Show marketing remark (777 chars)

    * * Corner Property with Parking & 2023 Roof! * * Welcome to 2230 N. Roman Street, a charming single-family home on an extra-large 100' x 30' corner lot in the heart of New Orleans. Featuring a new roof (2023) and new pilings (2018), this property offers peace of mind along with classic New Orleans living. Property Highlights: Two full bedrooms & one full bath, Convenient driveway parking on a corner lot, Private courtyard for outdoor living, Washer/dryer hookups for added functionality, Well-maintained and move-in ready. With its combination of updates, space and location, this home is an excellent opportunity to own a solid property in a growing neighborhood. * * Property currently leased, Please allow Notice to Show * * Make Every Move Wurth It!

19. 2025-09-02
    historical $1,350
20. 2025-07-11
    listed $1,350
21. 2025-07-10
    listed $159,500 Active
22. 2025-07-05
    historical $1,350
23. 2025-06-26
    listed $1,350
24. 2025-06-13
    historical $1,350
25. 2025-06-06
    listed $159,500 Active
26. 2025-05-28
    listed $1,350
27. 2025-01-28
    price $159,500
28. 2025-01-28
    price $159,500
29. 2024-12-05
    listed $175,500 Active
30. 2018-09-07
    soldstatus $85,000
31. 2018-09-06
    soldstatus $85,000 Sold
32. 2018-08-27
    status Under Contract
33. 2018-07-20
    price $95,000
34. 2018-06-08
    status Active
35. 2018-05-13
    historical Pending Continue to Show
36. 2018-04-18
    listed $120,000 Active
37. 2018-04-18
    listed $95,000
38. 2007-03-30
    soldstatus $40,000

ⓘ 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: $1,394 · $116/mo
• Projected year-2 tax: $1,394 · $116/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: $17,227
• − Mortgage interest: −$8,934
• − Property taxes: −$1,394
• − Insurance: −$1,595
• − Repairs & maintenance: −$1,378
• − Management: −$1,378
• − Depreciation: −$4,640
• Taxable loss: −$2,092
• Est. tax savings @ 24.0%: +$502
• After-tax cash flow: $1,086/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

+298.8% since first listed

22 events — show timeline

• 2026-02-24 Listed $159,500 GSREIN
• 2026-02-24 Listed $159,500 AcadianaMLS
• 2025-09-02 Rental Removed $1,350 GSREIN
• 2025-07-11 Listed for Rent $1,350 GSREIN
• 2025-07-10 Listed $159,500 AcadianaMLS
• 2025-07-05 Rental Removed $1,350 GSREIN
• 2025-06-26 Listed for Rent $1,350 GSREIN
• 2025-06-13 Rental Removed $1,350 GSREIN
• 2025-06-06 Listed $159,500 AcadianaMLS
• 2025-05-28 Listed for Rent $1,350 GSREIN
• 2025-01-28 Price Changed $159,500 AcadianaMLS
• 2025-01-28 Price Changed $159,500 GSREIN
• 2024-12-05 Listed $175,500 AcadianaMLS
• 2018-09-07 Sold (Public Records) $85,000 Public Records
• 2018-09-06 Sold (MLS) $85,000 GSREIN
• 2018-08-27 Pending — GSREIN
• 2018-07-20 Price Changed $95,000 GSREIN
• 2018-06-08 Relisted — GSREIN
• 2018-05-13 Contingent — GSREIN
• 2018-04-18 Listed $95,000 AcadianaMLS
• 2018-04-18 Listed $120,000 GSREIN
• 2007-03-30 Sold (Public Records) $40,000 Public Records

Property tax history

+4.1%/yr

Latest (2026): $1,394 · +1.1% YoY. Source: county tax records.