2317 Florida Ave · New Orleans, LA 70122

$64,900

2 bd · 1.0 ba · 823 sqft · SingleFamily public records · 38 Days on market

Built 2006 Est $63k · at est.

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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 +6.4/15.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great price on 2 bedroom 1 bath. Great home for investors, home owners. Call agent to see property. Sold AS IS.

Key facts

• Parking
• Built 2006
• Listed 38 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Water heater (energy-efficient feature)
• Home design: Single-story; Frame construction with vinyl siding; Asphalt shingle roof
• Construction: Built with frame and vinyl siding; Raised foundation; Asphalt shingle roof
• Exterior features: City lot; Rectangular lot; Lot size approximately 32 x 105; Raised foundation; Very good condition

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fan(s)
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $111 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.2% 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 soft (-0.6%/yr); 332 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 33% of the median local income ($49k/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 $449 of loan paydown is wiped out by about $2k 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 38 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y 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 $20k; list at $65k implies a 224% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $62,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.11% ✓
• Cap rate: 16.23%
• Cash-on-cash: 35.47%
• DSCR: 2.58
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $63,371
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2317 Florida Ave	0.00mi	2/1.0	845 (+3%)	1mo	$64,900	$77	95
2423 Arts St	0.34mi	2/1.0	896 (+9%)	13mo	$95,000	$106	58
2622 Sage St	0.63mi	2/1.0	864 (+5%)	9mo	$125,000	$145	54
3013 Deers St	0.55mi	2/1.0	731 (-11%)	2mo	$54,000	$74	54
3400 Mandeville St	0.49mi	2/1.0	920 (+12%)	9mo	$65,025	$71	50
2525 Acacia St	0.72mi	3/2.0 (+1)	864 (+5%)	11mo	$145,000	$168	40
2633 New Orleans St	0.68mi	3/1.0 (+1)	925 (+12%)	12mo	$45,000	$49	32

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: -11.5%
• Equity multiple: 0.61×
• Total profit: $-7,138
• Equity at exit: $9,677

10-year hold

• IRR: -15.2%
• Equity multiple: 0.38×
• Total profit: $-11,252
• Equity at exit: $5,611

Cash invested: $18,172 (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 70122

• Rents YoY: -0.6%
• Active inventory: 332
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,368 high
• Mortgage (P&I): −$340
• Tax from tax record: −$176 /mo · $2,117/yr
• Insurance: −$27
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $111

Break-even live

Break-even rent $1,228

Max offer price $64,900

Occupancy floor 87%

Sensitivity live

Price	-10% $147	-5% $129	+0% $111	+5% $92	+10% $74
Rent	-10% $3	-5% $57	+0% $111	+5% $165	+10% $219
Rate	-1.0pp $143	-0.5pp $127	base $111	+0.5pp $94	+1.0pp $77

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2325 Florida Ave New Orleans, LA	2.0	1.0	796	$1,025	$1.29	4d	1	0.02mi
2812 Spain St New Orleans, LA	2.0	1.0	870	$1,275	$1.47	2d	1	0.09mi
2423 Saint Roch Ave New Orleans, LA	2.0	1.0	925	$1,350	$1.46	24d	1	0.26mi
2406 Saint Roch Ave New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	17d	1	0.27mi
2512 Elysian Fields Ave Unit C New Orleans, LA	2.0	1.0	800	$1,300	$1.62	4d	1	0.29mi
2512 Elysian Fields Ave Unit C New Orleans, LA	2.0	1.0	800	$1,300	$1.62	3d	1	0.29mi
2512 Elysian Fields Ave Unit 1 New Orleans, LA	2.0	1.0	879	$1,400	$1.59	17d	1	0.29mi
3118 Spain St New Orleans, LA	1.0	1.0	800	$995	$1.24	24d	1	0.31mi
3116 Spain St Unit 3118 New Orleans, LA	1.0	1.0	800	$995	$1.24	15d	1	0.31mi
2152 Abundance St Unit 2152 New Orleans, LA	3.0	2.0	1100	$1,599	$1.45	4d	1	0.32mi
2152 Abundance St Unit A New Orleans, LA	3.0	1.0	800	$1,599	$2.00	4d	1	0.32mi
2649 N Rocheblave St New Orleans, LA	2.0	2.0	806	$1,200	$1.49	24d	1	0.37mi
2222 Saint Roch Ave New Orleans, LA	3.0	1.0	900	$1,200	$1.33	24d	1	0.39mi
2551 N Tonti St New Orleans, LA	2.0	2.0	800	$1,450	$1.81	24d	1	0.42mi
2134 Saint Roch Ave New Orleans, LA	2.0	2.0	850	$1,500	$1.76	17d	1	0.44mi
2129 Spain St New Orleans, LA	2.0	1.0	861	$1,500	$1.74	24d	1	0.44mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	16d	1	0.44mi
3230 Pauger St New Orleans, LA	1.0	1.0	600	$1,200	$2.00	24d	1	0.45mi
2238 Painters St New Orleans, LA	2.0	1.0	896	$1,300	$1.45	24d	1	0.46mi
2120 Saint Roch Ave Unit 2120 New Orleans, LA	2.0	1.0	1000	$1,650	$1.65	24d	1	0.46mi
2123 Marigny St New Orleans, LA	1.0	1.0	700	$1,000	$1.43	4d	1	0.47mi
2247 N Galvez St New Orleans, LA	2.0	1.0	669	$1,100	$1.64	24d	1	0.49mi
2115 Elysian Fields Ave Unit 2115 New Orleans, LA	3.0	1.0	1100	$1,450	$1.32	24d	1	0.49mi
3110 Pauger St New Orleans, LA	2.0	2.0	992	$1,300	$1.31	24d	1	0.50mi
2514 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	4d	1	0.52mi
2514 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	3d	1	0.52mi
2510 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	4d	1	0.52mi
2510 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	3d	1	0.52mi
2661 Abundance St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	24d	1	0.52mi
2024 Mandeville St New Orleans, LA	2.0	2.0	1072	$1,950	$1.82	24d	1	0.52mi
2434 Saint Anthony St New Orleans, LA	2.0	1.0	768	$1,300	$1.69	15d	1	0.53mi
2817 Annette St New Orleans, LA	3.0	1.0	1100	$1,350	$1.23	24d	1	0.54mi
2432 Saint Anthony St New Orleans, LA	2.0	1.0	768	$1,300	$1.69	15d	1	0.54mi
3135 Eads St New Orleans, LA	1.0	1.0	700	$1,050	$1.50	3d	1	0.55mi
2311 Saint Anthony St Unit 1A New Orleans, LA	2.0	1.0	1100	$1,450	$1.32	24d	1	0.56mi
2311 Saint Anthony St Unit 1B New Orleans, LA	2.0	1.0	750	$1,350	$1.80	24d	1	0.56mi
2522 N Galvez St New Orleans, LA	3.0	2.0	1105	$1,675	$1.52	24d	1	0.57mi
2524 N Galvez St New Orleans, LA	3.0	2.5	1102	$1,800	$1.63	17d	1	0.57mi
2241 Eads St New Orleans, LA	2.0	1.0	867	$1,500	$1.73	24d	1	0.57mi
1922 Industry St Unit B New Orleans, LA	2.0	2.0	963	$1,325	$1.38	2d	1	0.58mi

Listing history 16 events

1. 2026-04-30
   status Pending 111-char remark

   Show marketing remark (111 chars)

   Great price on 2 bedroom 1 bath. Great home for investors, home owners. Call agent to see property. Sold AS IS.

2. 2026-04-30
   status Pending

   Show marketing remark (111 chars)

   Great price on 2 bedroom 1 bath. Great home for investors, home owners. Call agent to see property. Sold AS IS.

3. 2026-03-23
   listed $64,900 Active 111-char remark

   Show marketing remark (111 chars)

   Great price on 2 bedroom 1 bath. Great home for investors, home owners. Call agent to see property. Sold AS IS.

4. 2026-03-23
   listed $64,900 Active

   Show marketing remark (111 chars)

   Great price on 2 bedroom 1 bath. Great home for investors, home owners. Call agent to see property. Sold AS IS.

5. 2025-04-20
   price $87,000
6. 2025-04-20
   price $87,000
7. 2025-03-19
   listed $87,000
8. 2025-03-19
   listed $95,000 Active
9. 2024-09-18
   price $99,900
10. 2024-07-11
    price $139,900
11. 2024-06-11
    price $141,900
12. 2024-03-18
    listed $99,900 Active
13. 2018-12-17
    listed $139,000
14. 2004-03-17
    soldstatus $20,000
15. 2003-02-28
    listed $35,000
16. 2003-02-28
    listed $35,000

ⓘ 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: $2,117 · $176/mo
• Projected year-2 tax: $2,117 · $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 AE · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 20 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: $16,420
• − Mortgage interest: −$3,635
• − Property taxes: −$2,117
• − Insurance: −$5,443
• − Repairs & maintenance: −$1,314
• − Management: −$1,314
• − Depreciation: −$1,888
• Taxable income: $709
• Est. tax owed @ 24.0%: −$170
• After-tax cash flow: $1,157/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): 35,253
• Household income: $49,455
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 2150.0

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: Predominantly Black (69%)
• Race & ethnicity: Black 69% White 18% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 4% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 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: ▼ -222.37%
• Current HPI: 231.9921
• Rent YoY: ▼ -0.61%
• 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

+85.4% since first listed

16 events — show timeline

• 2026-04-30 Pending — AcadianaMLS
• 2026-04-30 Pending — GSREIN
• 2026-03-23 Listed $64,900 GSREIN
• 2026-03-23 Listed $64,900 AcadianaMLS
• 2025-04-20 Price Changed $87,000 AcadianaMLS
• 2025-04-20 Price Changed $87,000 GSREIN
• 2025-03-19 Listed $95,000 AcadianaMLS
• 2025-03-19 Listed $87,000 AcadianaMLS
• 2024-09-18 Price Changed $99,900 GSREIN
• 2024-07-11 Price Changed $139,900 GSREIN
• 2024-06-11 Price Changed $141,900 GSREIN
• 2024-03-18 Listed $99,900 AcadianaMLS
• 2018-12-17 Listed $139,000 AcadianaMLS
• 2004-03-17 Sold (MLS) $20,000 GSREIN
• 2003-02-28 Listed $35,000 GSREIN
• 2003-02-28 Listed $35,000 AcadianaMLS

Property tax history

+4.6%/yr

Latest (2026): $2,117 · +1.1% YoY. Source: county tax records.