507 Warrington Dr · New Orleans, LA 70122

$200,000

3 bd · 2.5 ba · 1,873 sqft · SingleFamily public records · 90 Days on market

Built 1940 5,227 sqft lot $107/sqft · 33% below area Est $299k · 33% 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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.2/10.0
• 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 MLS

Full renovation opportunity in Gentilly. This 3 bed, 2.5 bath home offers approximately 1,873 living square feet with a spacious layout and strong potential for value-add. Perfect for investors or buyers looking to renovate and create equity. Property will require updates and improvements but offers a solid footprint and desirable location. Conveniently located near major roads, shopping, and dining. Sold as-is, seller will make no repairs.

Key facts

• Built 1940
• Listed 89 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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 (-0.6%/yr); 336 active listings in the ZIP; 40 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).
• At $2,040/mo this rent would consume 50% of the median local household income ($49k/yr) (locally 2150% 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 $6k 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 90 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $200k implies a 700% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — 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 $188,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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: 1.02% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.34%
• DSCR: 1.28
• GRM: 8.2

CMA / ARV

• ARV (median comp): $299,217
• List price: $200,000
• Delta: -33.16%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4810 Pauger St	0.42mi	3/2.0	1,809 (-3%)	2mo	$360,000	$199	72
4900 Moore Dr	0.32mi	4/2.0 (+1)	1,914 (+2%)	5mo	$369,000	$193	70
4513 Touro St	0.39mi	3/2.5	2,000 (+7%)	4mo	$340,000	$170	68
3837 Virgil Blvd	0.38mi	4/2.0 (+1)	1,750 (-7%)	0mo	$270,000	$154	64
5122 Pratt Dr	0.56mi	3/2.0	1,798 (-4%)	2mo	$286,800	$160	64
4534 Paris Ave	0.43mi	4/2.0 (+1)	1,790 (-4%)	5mo	$206,000	$115	61
5025 Pauger St	0.58mi	3/2.0	1,717 (-8%)	1mo	$269,000	$157	56
1482 Wakefield Pl	0.58mi	3/2.5	1,685 (-10%)	4mo	$293,814	$174	53
5363 Charlotte Dr	0.72mi	3/2.5	1,763 (-6%)	6mo	$310,000	$176	52
4540 Jeanne Marie Pl	0.59mi	3/2.5	1,632 (-13%)	6mo	$345,000	$211	46
2057 Pleasure St	0.74mi	3/2.0	1,697 (-9%)	4mo	$289,000	$170	45
4131 Clermont St	0.66mi	3/1.5	1,599 (-15%)	1mo	$175,000	$109	40

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: -12.1%
• Equity multiple: 0.58×
• Total profit: $-23,759
• Equity at exit: $29,821

10-year hold

• IRR: -8.2%
• Equity multiple: 0.56×
• Total profit: $-24,872
• Equity at exit: $17,292

Cash invested: $56,000 (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: 336
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,040 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$184 /mo · $2,208/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $229

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 84%

Sensitivity live

Price	-10% $342	-5% $286	+0% $229	+5% $173	+10% $116
Rent	-10% $68	-5% $149	+0% $229	+5% $310	+10% $390
Rate	-1.0pp $330	-0.5pp $280	base $229	+0.5pp $177	+1.0pp $125

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4304 Pauger St New Orleans, LA	2.0	1.0	1345	$1,450	$1.08	4d	1	0.28mi
4815 Warrington Dr New Orleans, LA	3.0	2.0	1652	$2,150	$1.30	17d	1	0.34mi
3624 Havana St New Orleans, LA	3.0	1.0	1388	$1,875	$1.35	17d	1	0.51mi
1486 Mandolin St New Orleans, LA	3.0	2.0	1497	$1,900	$1.27	4d	1	0.52mi
3607 Havana St New Orleans, LA	3.0	2.0	1693	$1,488	$0.88	18d	1	0.52mi
3907 Elysian Fields Ave New Orleans, LA	3.0	2.0	1652	$3,000	$1.82	25d	1	0.62mi
3515 Saint Anthony Ave New Orleans, LA	3.0	2.0	1366	$2,500	$1.83	25d	1	0.62mi
4618 Marigny St New Orleans, LA	3.0	1.0	1320	$1,900	$1.44	25d	1	0.62mi
5024 Paris Ave New Orleans, LA	4.0	3.0	2116	$3,000	$1.42	17d	1	0.63mi
4111 Jumonville St New Orleans, LA	3.0	2.5	1543	$2,300	$1.49	11d	1	0.65mi
4229 Buchanan St New Orleans, LA	3.0	2.0	1235	$2,250	$1.82	25d	1	0.77mi
4727 Saint Bernard Ave New Orleans, LA	3.0	2.0	2000	$2,000	$1.00	17d	1	0.88mi
3570 Gentilly Blvd New Orleans, LA	3.0	2.0	2390	$2,900	$1.21	45d	1	0.89mi
3540 Clermont Dr New Orleans, LA	3.0	2.0	1248	$1,975	$1.58	25d	1	1.00mi
5716 Warrington Dr New Orleans, LA	4.0	3.0	1560	$2,000	$1.28	18d	1	1.03mi
2175 N Broad St New Orleans, LA	2.0	1.0	1500	$1,500	$1.00	17d	1	1.04mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	17d	1	1.08mi
1901 Gentilly Blvd New Orleans, LA	3.0	2.5	2205	$4,000	$1.81	45d	1	1.08mi
3001 Marigny St New Orleans, LA	2.0	1.0	1250	$1,400	$1.12	25d	1	1.12mi
5718 Vermillion Blvd Unit A New Orleans, LA	3.0	1.0	1300	$2,000	$1.54	25d	1	1.12mi
2130 N Broad St New Orleans, LA	2.0	1.0	1579	$1,350	$0.85	25d	1	1.12mi
3718 Franklin Ave New Orleans, LA	2.0	1.0	1601	$1,800	$1.12	13d	1	1.12mi
5900 Chatham Dr New Orleans, LA	3.0	2.0	1864	$2,500	$1.34	4d	1	1.14mi
5172 Venus St Unit 5172 New Orleans, LA	3.0	2.5	1864	$2,450	$1.31	25d	1	1.16mi
2509 Sage St New Orleans, LA	3.0	1.0	1250	$1,650	$1.32	22d	1	1.17mi
1823 Rosiere St New Orleans, LA	2.0	1.0	1400	$1,450	$1.04	25d	1	1.23mi
1821 Rosiere St New Orleans, LA	2.0	1.0	1400	$1,300	$0.93	25d	1	1.23mi
6010 Pasteur Blvd New Orleans, LA	4.0	3.0	2010	$2,600	$1.29	18d	1	1.24mi
2647 Myrtle St Unit 2647 New Orleans, LA	4.0	2.0	1445	$2,550	$1.76	45d	1	1.25mi
4767 Lafaye St New Orleans, LA	3.0	2.0	1469	$2,000	$1.36	25d	1	1.25mi
6009 Pasteur Blvd New Orleans, LA	3.0	2.0	1250	$1,785	$1.43	25d	1	1.25mi
1903 Rosary Dr New Orleans, LA	3.0	2.0	1500	$1,800	$1.20	25d	1	1.27mi
3702 Trafalgar St New Orleans, LA	3.0	2.0	1428	$2,350	$1.65	17d	1	1.30mi
2646 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	18d	1	1.30mi
2644 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	18d	1	1.30mi
6079 Saint Anthony Ave New Orleans, LA	3.0	2.0	1400	$2,400	$1.71	17d	1	1.31mi
1940 Allen Toussaint Blvd Unit 1940 New Orleans, LA	3.0	2.0	1500	$1,600	$1.07	25d	1	1.34mi
1940 Allen Toussaint Blvd New Orleans, LA	3.0	2.0	1500	$1,550	$1.03	12d	1	1.34mi
2458 Athis St New Orleans, LA	4.0	2.0	1530	$2,200	$1.44	25d	1	1.38mi
6217 Curie St New Orleans, LA	3.0	2.0	1700	$1,500	$0.88	25d	1	1.44mi

Listing history 20 events

1. 2026-06-21
   days on market $200,000 Active 90 DOM
2. 2026-06-18
   days on market $200,000 Active 87 DOM
3. 2026-06-17
   days on market $200,000 Active 86 DOM
4. 2026-06-16
   days on market $200,000 Active 85 DOM
5. 2026-06-15
   days on market $200,000 Active 84 DOM
6. 2026-06-13
   days on market $200,000 Active 82 DOM
7. 2026-06-10
   days on market $200,000 Active 79 DOM
8. 2026-06-09
   days on market $200,000 Active 78 DOM
9. 2026-06-08
   days on market $200,000 Active 77 DOM
10. 2026-06-07
    days on market $200,000 Active 76 DOM
11. 2026-06-05
    days on market $200,000 Active 73 DOM
12. 2026-06-03
    days on market $200,000 Active 72 DOM
13. 2026-06-02
    days on market $200,000 Active 71 DOM
14. 2026-06-01
    days on market $200,000 Active 70 DOM
15. 2026-05-31
    days on market $200,000 Active 69 DOM
16. 2026-04-03
    price $200,000 444-char remark

    Show marketing remark (444 chars)

    Full renovation opportunity in Gentilly. This 3 bed, 2.5 bath home offers approximately 1,873 living square feet with a spacious layout and strong potential for value-add. Perfect for investors or buyers looking to renovate and create equity. Property will require updates and improvements but offers a solid footprint and desirable location. Conveniently located near major roads, shopping, and dining. Sold as-is, seller will make no repairs.

17. 2026-04-03
    price $200,000 444-char remark

    Show marketing remark (444 chars)

    Full renovation opportunity in Gentilly. This 3 bed, 2.5 bath home offers approximately 1,873 living square feet with a spacious layout and strong potential for value-add. Perfect for investors or buyers looking to renovate and create equity. Property will require updates and improvements but offers a solid footprint and desirable location. Conveniently located near major roads, shopping, and dining. Sold as-is, seller will make no repairs.

18. 2026-03-13
    listed $220,000 Active 444-char remark

    Show marketing remark (444 chars)

    Full renovation opportunity in Gentilly. This 3 bed, 2.5 bath home offers approximately 1,873 living square feet with a spacious layout and strong potential for value-add. Perfect for investors or buyers looking to renovate and create equity. Property will require updates and improvements but offers a solid footprint and desirable location. Conveniently located near major roads, shopping, and dining. Sold as-is, seller will make no repairs.

19. 2026-03-13
    listed $220,000 Active 444-char remark

    Show marketing remark (444 chars)

    Full renovation opportunity in Gentilly. This 3 bed, 2.5 bath home offers approximately 1,873 living square feet with a spacious layout and strong potential for value-add. Perfect for investors or buyers looking to renovate and create equity. Property will require updates and improvements but offers a solid footprint and desirable location. Conveniently located near major roads, shopping, and dining. Sold as-is, seller will make no repairs.

20. 1986-04-11
    soldstatus $25,000

ⓘ 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: $2,208 · $184/mo
• Projected year-2 tax: $2,208 · $184/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: $24,483
• − Mortgage interest: −$11,203
• − Property taxes: −$2,208
• − Insurance: −$1,798
• − Repairs & maintenance: −$1,959
• − Management: −$1,959
• − Depreciation: −$5,818
• Taxable loss: −$461
• Est. tax savings @ 24.0%: +$111
• After-tax cash flow: $2,861/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

+700.0% since first listed

5 events — show timeline

• 2026-04-03 Price Changed $200,000 AcadianaMLS
• 2026-04-03 Price Changed $200,000 GSREIN
• 2026-03-13 Listed $220,000 GSREIN
• 2026-03-13 Listed $220,000 AcadianaMLS
• 1986-04-11 Sold (Public Records) $25,000 Public Records

Property tax history

+18.3%/yr

Latest (2026): $2,208 · +1.1% YoY. Source: county tax records.