2931 Dickens Dr · New Orleans, LA 70131

$120,000

3 bd · 1.5 ba · 1,457 sqft · SingleFamily public records · 97 Days on market

Built 1970 6,651 sqft lot $82/sqft · 33% below area Est $177k · 32% 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 +9.8/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Rent growth +0.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this charming three-bedroom, one-and-a-half-bathroom home in Algiers! Located in a welcoming neighborhood, this property features a spacious living and dining area--good for entertaining. Enjoy the privacy of a fenced backyard, fun for gatherings or relaxing outdoors. Best of all, it's situated in Flood Zone X and priced to sell quickly. Don't miss out on this great opportunity! ATTENTION Investors,Recent Price Drop!!

Key facts

• Fenced backyard
• 6,651 sq ft lot
• Parking

Tags

• FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $567 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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 falling (-9.2%/yr); 274 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 34% of the median local income ($62k/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 $830 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 + 0.0% rent growth), your $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 3 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 $18k; list at $120k implies a 582% gain — meaningful room to come down on a strong offer.

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 $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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: 1.48% ✓
• Cap rate: 12.62%
• Cash-on-cash: 22.61%
• DSCR: 2.01
• GRM: 5.6

CMA / ARV

• ARV (median comp): $177,450
• List price: $120,000
• Delta: -32.38%
• 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
3121 Preston Pl	0.08mi	3/2.0	1,434 (-2%)	0mo	$189,000	$132	92
3421 Dickens Dr	0.16mi	3/2.0	1,431 (-2%)	2mo	$179,900	$126	86
2941 Kent St	0.10mi	3/2.0	1,350 (-7%)	2mo	$180,000	$133	79
216 Rhodes Ave	0.30mi	3/2.0	1,512 (+4%)	0mo	$130,000	$86	77
3731 Mansfield Ave	0.36mi	4/1.5 (+1)	1,450 (-0%)	7mo	$50,000	$34	72
3101 Bacchus Dr	0.36mi	4/2.0 (+1)	1,494 (+2%)	2mo	$179,900	$120	70
218 Rhodes Ave	0.29mi	3/2.5	1,480 (+2%)	15mo	$140,000	$95	68
3227 Lancaster St	0.31mi	3/1.0	1,355 (-7%)	14mo	$35,000	$26	60
212 Fairfax Pl	0.44mi	3/2.0	1,635 (+12%)	0mo	$225,000	$138	57
7054 Tullis Dr	0.47mi	3/2.0	1,290 (-12%)	4mo	$75,000	$58	53
3651 Tasha Pl	0.54mi	3/2.0	1,350 (-7%)	16mo	$186,345	$138	47
6426 Peony St	0.49mi	3/2.0	1,656 (+14%)	10mo	$180,000	$109	44

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: 9.0%
• Equity multiple: 1.34×
• Total profit: $11,471
• Equity at exit: $17,892

10-year hold

• IRR: 15.5%
• Equity multiple: 2.09×
• Total profit: $36,489
• Equity at exit: $10,375

Cash invested: $33,600 (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 70131

• Home prices YoY: -12.0%
• Rents YoY: -9.2%
• Active inventory: 274
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,773 high
• Mortgage (P&I): −$629
• Tax from tax record: −$89 /mo · $1,063/yr
• Insurance: −$50
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $567

Break-even live

Break-even rent $1,056

Max offer price $120,000

Occupancy floor 63%

Sensitivity live

Price	-10% $634	-5% $600	+0% $567	+5% $533	+10% $499
Rent	-10% $426	-5% $496	+0% $567	+5% $637	+10% $707
Rate	-1.0pp $627	-0.5pp $597	base $567	+0.5pp $535	+1.0pp $504

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3200 Lancaster St New Orleans, LA	4.0	2.0	1678	$2,200	$1.31	24d	1	0.34mi
6021 Brighton Pl New Orleans, LA	4.0	3.0	1840	$3,100	$1.68	17d	1	0.44mi
3531 Adrian St New Orleans, LA	3.0	2.0	1292	$1,895	$1.47	17d	1	0.49mi
4020 Sullen Pl New Orleans, LA	4.0	2.5	1280	$1,400	$1.09	4d	1	0.56mi
6121 Stratford Pl New Orleans, LA	3.0	2.0	1225	$1,800	$1.47	17d	1	0.63mi
4254 Maple Leaf Dr New Orleans, LA	1.0–3.0	1.0–2.5	1354	$1,687	$1.25	2d	8	0.74mi
5997 Tullis Dr Unit B New Orleans, LA	3.0	2.0	1003	$1,250	$1.25	24d	1	1.03mi
5997 Tullis Dr Unit B New Orleans, LA	3.0	2.0	1003	$1,250	$1.25	15d	1	1.03mi
5987 Tullis Dr New Orleans, LA	2.0	1.5	1179	$1,150	$0.98	18d	1	1.04mi
5987 Tullis Dr New Orleans, LA	2.0	1.5	1179	$1,100	$0.93	4d	1	1.04mi
3151 Plymouth Pl New Orleans, LA	3.0	1.0	1470	$1,700	$1.16	24d	1	1.05mi
4479 Woodland Dr Unit A New Orleans, LA	2.0	2.5	1300	$1,500	$1.15	24d	1	1.15mi
3751 Herald St New Orleans, LA	4.0	2.0	1624	$2,150	$1.32	24d	1	1.22mi
5823 Tullis Dr New Orleans, LA	3.0	1.5	1637	$1,600	$0.98	24d	1	1.23mi
3429 Bryson St New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	24d	1	1.24mi
5797 Tullis Dr New Orleans, LA	3.0	1.5	1240	$1,600	$1.29	24d	1	1.25mi
3408 Bryson St New Orleans, LA	3.0	2.0	1163	$2,200	$1.89	24d	1	1.27mi
5000 Woodland Dr New Orleans, LA	2.0	1.0–2.5	943	$1,457	$1.55	24d	1	1.31mi
3320 Kabel Dr Unit C New Orleans, LA	3.0	2.0	999	$1,100	$1.10	4d	1	1.43mi
3252 Kabel Dr New Orleans, LA	2.0	1.5	1080	$1,300	$1.20	21d	1	1.43mi
3362 Kabel Dr New Orleans, LA	3.0	2.0	1000	$1,250	$1.25	24d	1	1.45mi
3315 Kabel Dr New Orleans, LA	2.0	1.5	975	$1,350	$1.38	24d	1	1.47mi
3317 Kabel Dr New Orleans, LA	2.0	1.5	975	$1,350	$1.38	24d	1	1.47mi
3307 Kabel Dr New Orleans, LA	2.0	1.5	1000	$1,250	$1.25	4d	1	1.48mi
130 Cypress Grove Ct #92 New Orleans, LA	2.0	1.5	1381	$1,550	$1.12	17d	1	1.48mi

Listing history 20 events

1. 2026-06-18
   days on market $120,000 Active 97 DOM
2. 2026-06-17
   days on market $120,000 Active 96 DOM
3. 2026-06-16
   days on market $120,000 Active 95 DOM
4. 2026-06-15
   days on market $120,000 Active 94 DOM
5. 2026-06-13
   days on market $120,000 Active 92 DOM
6. 2026-06-10
   days on market $120,000 Active 89 DOM
7. 2026-06-09
   days on market $120,000 Active 88 DOM
8. 2026-06-08
   days on market $120,000 Active 87 DOM
9. 2026-06-07
   days on market $120,000 Active 86 DOM
10. 2026-06-05
    days on market $120,000 Active 83 DOM
11. 2026-06-03
    days on market $120,000 Active 82 DOM
12. 2026-06-02
    days on market $120,000 Active 81 DOM
13. 2026-06-01
    days on market $120,000 Active 80 DOM
14. 2026-05-31
    days on market $120,000 Active 79 DOM
15. 2026-03-13
    listed $120,000 Active 430-char remark

    Show marketing remark (449 chars)

    Come see this charming three-bedroom, one-and-a-half-bathroom home in Algiers! Located in a welcoming neighborhood, this property features a spacious living and dining area—good for entertaining. Enjoy the privacy of a fenced backyard, fun for gatherings or relaxing outdoors. Best of all, it’s situated in Flood Zone X and priced to sell quickly. Don’t miss out on this great opportunity! ATTENTION Investors, Recent Price Drop!!

16. 2026-03-13
    listed $120,000 Active 449-char remark

    Show marketing remark (449 chars)

    Come see this charming three-bedroom, one-and-a-half-bathroom home in Algiers! Located in a welcoming neighborhood, this property features a spacious living and dining area—good for entertaining. Enjoy the privacy of a fenced backyard, fun for gatherings or relaxing outdoors. Best of all, it’s situated in Flood Zone X and priced to sell quickly. Don’t miss out on this great opportunity! ATTENTION Investors, Recent Price Drop!!

17. 2025-11-29
    price $130,000
18. 2025-11-10
    price $130,000
19. 2025-09-08
    listed $140,000 Active
20. 1991-06-24
    soldstatus $17,600

ⓘ 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: $1,063 · $89/mo
• Projected year-2 tax: $1,063 · $89/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 · 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,279
• − Mortgage interest: −$6,722
• − Property taxes: −$1,063
• − Insurance: −$1,398
• − Repairs & maintenance: −$1,702
• − Management: −$1,702
• − Depreciation: −$3,491
• Taxable income: $5,201
• Est. tax owed @ 24.0%: −$1,248
• After-tax cash flow: $5,550/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): 25,151
• Household income: $62,389
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 707.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 62% White 20% Hispanic / Latino 11% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Dominican 2%
• Common ancestry: Lithuanian 4% Hispanic 1%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 9% Vietnamese 2% 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: ▼ -28.08%
• Current HPI: 206.7552
• Rent YoY: ▼ -9.23%
• 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

+581.8% since first listed

6 events — show timeline

• 2026-03-13 Listed $120,000 GSREIN
• 2026-03-13 Listed $120,000 AcadianaMLS
• 2025-11-29 Price Changed $130,000 AcadianaMLS
• 2025-11-10 Price Changed $130,000 GSREIN
• 2025-09-08 Listed $140,000 AcadianaMLS
• 1991-06-24 Sold (Public Records) $17,600 Public Records

Property tax history

-1.3%/yr

Latest (2026): $1,063 · +0.0% YoY. Source: county tax records.