3024 Kansas St · New Orleans, LA 70114

$145,000

4 bd · 2.0 ba · 1,759 sqft · SingleFamily public records · 47 Days on market

Built 1952 10,018 sqft lot $82/sqft · 39% below area Est $245k · 41% 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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• 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

Charming 3-bedroom, 2-bath home in the heart of Algiers offering comfort, functionality, and convenience. This well-maintained property features a spacious living area, updated kitchen with ample cabinet space, and a practical floor plan ideal for everyday living or investment potential. The home includes off-street parking, a generous yard, and easy access to downtown New Orleans, shopping, and local amenities. Whether you're a first-time buyer or investor, this property presents a great opportunity in a growing area.

Key facts

• Generous yard
• Updated kitchen
• Local amenities

Tags

• UPDATED KITCHEN
• OFF-STREET PARKING
• GENEROUS YARD
• EASY ACCESS TO DOWNTOWN
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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 (-0.7%/yr); 265 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,042/mo this rent would consume 56% of the median local household income ($43k/yr) (locally 2240% 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 $1k 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 47 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y 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 $44k; list at $145k implies a 230% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,650 (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 1952 — 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: 1.41% ✓
• Cap rate: 12.12%
• Cash-on-cash: 20.82%
• DSCR: 1.93
• GRM: 5.9

CMA / ARV

• ARV (median comp): $245,222
• List price: $145,000
• Delta: -40.87%
• 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
2808 Seine St	0.27mi	3/2.5 (-1)	1,791 (+2%)	12mo	$290,000	$162	67
3052 Behrman Hwy	0.31mi	4/2.0	1,902 (+8%)	9mo	$131,000	$69	65
203 Holmes Blvd	0.65mi	4/2.0	1,819 (+3%)	0mo	$311,000	$171	64
3200 Potomac St	0.60mi	3/2.5 (-1)	1,785 (+2%)	1mo	$315,000	$176	62
201 Holmes Blvd	0.64mi	4/2.0	1,819 (+3%)	4mo	$304,900	$168	62
253 Holmes Blvd	0.69mi	4/2.5	1,821 (+4%)	12mo	$321,412	$177	50
2032 Halsey Ave	0.73mi	3/2.0 (-1)	1,639 (-7%)	0mo	$220,000	$134	49
208 Amapola Cir	0.73mi	3/2.0 (-1)	1,932 (+10%)	1mo	$279,000	$144	44
3205 Potomac St	0.62mi	4/3.0	2,010 (+14%)	1mo	$379,000	$189	42
2219 Mercedes Blvd	0.70mi	3/2.0 (-1)	1,620 (-8%)	9mo	$190,000	$117	42
237 Holmes Blvd	0.66mi	4/2.0	1,555 (-12%)	13mo	$290,900	$187	39
2235 Mercedes Blvd	0.69mi	3/2.0 (-1)	1,990 (+13%)	11mo	$225,000	$113	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: -8.0%
• Equity multiple: 0.72×
• Total profit: $-11,549
• Equity at exit: $21,620

10-year hold

• IRR: -4.2%
• Equity multiple: 0.77×
• Total profit: $-9,440
• Equity at exit: $12,537

Cash invested: $40,600 (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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,042 high
• Mortgage (P&I): −$760
• Tax from tax record: −$88 /mo · $1,054/yr
• Insurance: −$60
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $278

Break-even live

Break-even rent $1,690

Max offer price $145,000

Occupancy floor 81%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Carriage Ln New Orleans, LA	3.0	2.5	1900	$2,000	$1.05	21d	1	0.23mi
1774 Pace Blvd New Orleans, LA	4.0	2.5	1574	$2,000	$1.27	23d	1	0.58mi
3000 Americus St New Orleans, LA	3.0	2.0	1280	$1,400	$1.09	23d	1	0.68mi
1825 Murl St New Orleans, LA	3.0	2.0	2484	$1,750	$0.70	23d	1	0.68mi
2320 Mardi Gras Blvd New Orleans, LA	4.0	2.5	1600	$2,500	$1.56	1d	1	0.68mi
3441 Catalina Dr New Orleans, LA	5.0	2.0	1610	$2,450	$1.52	11d	1	0.73mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	2d	1	0.81mi
1684 Lauradale Dr New Orleans, LA	4.0	2.0	1571	$2,000	$1.27	23d	1	0.83mi
300 Terry Pkwy Unit C Terrytown, LA	3.0	2.5	1532	$1,800	$1.17	23d	1	0.90mi
429 E Butterfly Cir Terrytown, LA	3.0	1.5	1300	$1,950	$1.50	21d	1	1.00mi
429 E Butterfly Cir Terrytown, LA	3.0	1.5	1300	$1,650	$1.27	23d	1	1.00mi
2001 Saint Nick Dr New Orleans, LA	4.0	2.5	2400	$2,300	$0.96	23d	1	1.09mi
349 Cherry Blossom Ln Terrytown, LA	3.0	1.5	1225	$1,600	$1.31	23d	1	1.09mi
1410 Kabel Dr New Orleans, LA	3.0	2.0	2200	$2,200	$1.00	23d	1	1.16mi
517 Diplomat St Terrytown, LA	3.0	2.0	1850	$2,000	$1.08	4d	1	1.20mi
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	16d	1	1.22mi
3511 Hyman Pl New Orleans, LA	3.0	2.0	1975	$2,700	$1.37	1d	1	1.24mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	43d	1	1.28mi
532 Oakwood Dr Gretna, LA	3.0	2.5	2100	$2,000	$0.95	4d	1	1.37mi
502 Behrman Hwy Gretna, LA	4.0	2.0	1600	$1,750	$1.09	4d	1	1.47mi
103 Danny Dr New Orleans, LA	4.0	2.0	2040	$2,400	$1.18	23d	1	1.49mi

Listing history 23 events

1. 2026-06-10
   days on market $145,000 Active 47 DOM
2. 2026-06-09
   days on market $145,000 Active 46 DOM
3. 2026-06-08
   days on market $145,000 Active 45 DOM
4. 2026-06-07
   days on market $145,000 Active 44 DOM
5. 2026-06-05
   days on market $145,000 Active 41 DOM
6. 2026-06-03
   days on market $145,000 Active 40 DOM
7. 2026-06-02
   days on market $145,000 Active 39 DOM
8. 2026-06-02
   price $145,000 Active 38 DOM
9. 2026-06-01
   days on market $150,000 Active 38 DOM
10. 2026-05-31
    days on market $150,000 Active 37 DOM
11. 2026-04-23
    listed $150,000 Active 524-char remark
12. 2026-04-23
    listed $150,000 Active 524-char remark
13. 2025-07-09
    price $120,000
14. 2025-07-09
    price $120,000
15. 2025-06-04
    price $140,000
16. 2025-06-04
    price $140,000
17. 2025-05-18
    price $150,000
18. 2025-05-18
    price $150,000
19. 2025-05-05
    listed $160,000 Active
20. 2001-08-31
    soldstatus $44,000
21. 2001-08-24
    soldstatus $44,000
22. 2000-11-13
    listed $57,000
23. 2000-11-13
    listed $57,000

ⓘ 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: $1,054 · $88/mo
• Projected year-2 tax: $1,054 · $88/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 9/10 Extreme FEMA zone AE · 78% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,501
• − Mortgage interest: −$8,122
• − Property taxes: −$1,054
• − Insurance: −$5,844
• − Repairs & maintenance: −$1,960
• − Management: −$1,960
• − Depreciation: −$4,218
• Taxable income: $1,343
• Est. tax owed @ 24.0%: −$322
• After-tax cash flow: $3,012/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): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% 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: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

+154.4% since first listed

14 events — show timeline

• 2026-06-01 Price Changed $145,000 AcadianaMLS
• 2026-06-01 Price Changed $145,000 GSREIN
• 2026-04-23 Listed $150,000 AcadianaMLS
• 2025-07-09 Price Changed $120,000 AcadianaMLS
• 2025-07-09 Price Changed $120,000 GSREIN
• 2025-06-04 Price Changed $140,000 AcadianaMLS
• 2025-06-04 Price Changed $140,000 GSREIN
• 2025-05-18 Price Changed $150,000 AcadianaMLS
• 2025-05-18 Price Changed $150,000 GSREIN
• 2025-05-05 Listed $160,000 AcadianaMLS
• 2001-08-31 Sold (Public Records) $44,000 Public Records
• 2001-08-24 Sold (MLS) $44,000 GSREIN
• 2000-11-13 Listed $57,000 GSREIN
• 2000-11-13 Listed $57,000 AcadianaMLS

Property tax history

+2.3%/yr

Latest (2026): $1,054 · -7.2% YoY. Source: county tax records.