1624 S Saratoga St · New Orleans, LA 70113

$125,000

3 bd · 2.0 ba · 1,440 sqft · SingleFamily public records · 113 Days on market

Built 1997 3,049 sqft lot $87/sqft · 64% below area

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks MLS

NEW LOW PRICE!!! 3 Bedroom / 2 Full bath home with front porch, located just off Simon Bolivar Ave. and Martin Luther King Blvd. Great opportunity to purchase a home in an area with many renovations at an affordable price. Would make a great investment or home for the owner/occupant looking to update to their liking. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

Key facts

• 3,049 sq ft lot
• Parking
• Built 1997

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $763 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.3% 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 rising fast (+6.0%/yr); 137 active listings in the ZIP; 40 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).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 6.0% rent growth), your $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 29y ago; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $125k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.68% ✓
• Cap rate: 14.26%
• Cash-on-cash: 28.44%
• DSCR: 2.27
• GRM: 4.9

CMA / ARV

• ARV (median comp): $351,132
• List price: $125,000
• Delta: -64.40%
• 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
1301 S Saratoga St	0.21mi	3/2.0	1,510 (+5%)	2mo	$250,000	$166	80
2015 Martin Luther King Blvd	0.11mi	3/2.0	1,332 (-8%)	3mo	$249,000	$187	80
1323 S Rampart St	0.18mi	3/2.0	1,477 (+3%)	10mo	$275,000	$186	80
1819 Baronne St	0.20mi	3/2.0	1,375 (-4%)	5mo	$315,000	$229	79
2014 Philip St	0.35mi	3/2.0	1,476 (+2%)	3mo	$310,000	$210	77
2725 Philip St	0.48mi	3/2.0	1,404 (-2%)	7mo	$199,000	$142	68
2321 Seventh St	0.74mi	3/2.0	1,425 (-1%)	2mo	$325,000	$228	62
2320 Second St	0.44mi	3/2.0	1,366 (-5%)	14mo	$214,000	$157	59
2305 Washington Ave	0.58mi	3/2.0	1,382 (-4%)	9mo	$337,000	$244	58
2226 First St	0.38mi	2/2.0 (-1)	1,600 (+11%)	8mo	$285,000	$178	52
2410 Freret St	0.43mi	3/3.0	1,305 (-9%)	11mo	$249,000	$191	51
1510 Camp St	0.65mi	2/2.0 (-1)	1,510 (+5%)	12mo	$730,000	$483	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 5.98% rent growth · sell at horizon

5-year hold

• IRR: 45.8%
• Equity multiple: 4.52×
• Total profit: $123,231
• Equity at exit: $112,610

10-year hold

• IRR: 41.0%
• Equity multiple: 10.70×
• Total profit: $339,664
• Equity at exit: $242,848

Cash invested: $35,000 (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 70113

• Rents YoY: 6.0%
• Active inventory: 137
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,105 high
• Mortgage (P&I): −$656
• Tax from tax record: −$126 /mo · $1,515/yr
• Insurance: −$52
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $763

Break-even live

Break-even rent $1,140

Max offer price $125,000

Occupancy floor 59%

Sensitivity live

Price	-10% $834	-5% $798	+0% $763	+5% $728	+10% $692
Rent	-10% $597	-5% $680	+0% $763	+5% $846	+10% $929
Rate	-1.0pp $826	-0.5pp $795	base $763	+0.5pp $731	+1.0pp $698

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2032 Saint Andrew St New Orleans, LA	3.0	2.0	1035	$1,830	$1.77	17d	1	0.15mi
1848 Felicity St New Orleans, LA	2.0	1.0	1000	$1,300	$1.30	17d	1	0.16mi
2119 Josephine St New Orleans, LA	3.0	1.0	1017	$950	$0.93	22d	1	0.19mi
2318 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1400	$1,700	$1.21	24d	1	0.20mi
2102 Josephine St New Orleans, LA	4.0	2.0	1286	$2,100	$1.63	24d	1	0.20mi
1614 Rev John Raphael Jr Way New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	24d	1	0.21mi
1827 Baronne St Unit C New Orleans, LA	2.0	1.0	876	$1,450	$1.66	24d	1	0.22mi
2123 S Liberty St Unit 2125 New Orleans, LA	3.0	2.0	1500	$2,100	$1.40	4d	1	0.27mi
1809 Carondelet St Unit 1809 New Orleans, LA	2.0	2.0	1086	$2,000	$1.84	4d	1	0.29mi
1809 Carondelet St New Orleans, LA	2.0	2.0	1086	$2,200	$2.03	24d	1	0.29mi
1944 Jackson Ave New Orleans, LA	3.0	2.5	1572	$2,500	$1.59	44d	1	0.29mi
2526 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1200	$2,200	$1.83	4d	1	0.33mi
2231 S Liberty St New Orleans, LA	3.0	3.5	1752	$2,000	$1.14	17d	1	0.34mi
2515 Erato St Unit 102 New Orleans, LA	2.0	1.0	1000	$2,100	$2.10	22d	1	0.37mi
1643 Josephine St New Orleans, LA	1.0–2.0	1.5–2.0	814	$2,249	$2.76	3d	11	0.37mi
1915 Philip St New Orleans, LA	3.0	1.5	1300	$2,450	$1.88	24d	1	0.38mi
1715 Jackson Ave Unit B New Orleans, LA	2.0	2.0	1200	$1,850	$1.54	2d	1	0.39mi
2403 S Saratoga St New Orleans, LA	3.0	2.5	1600	$2,500	$1.56	24d	1	0.41mi
1525 Melpomene St Unit Na New Orleans, LA	3.0	1.5	1700	$4,000	$2.35	44d	1	0.41mi
1407 Magnolia St New Orleans, LA	3.0	2.0	1824	$1,500	$0.82	24d	1	0.42mi
1750 Saint Charles Ave #516 New Orleans, LA	2.0	2.0	1507	$2,600	$1.73	16d	1	0.43mi
2722 Martin L King Bl New Orleans, LA	3.0	2.5	1350	$1,800	$1.33	24d	1	0.43mi
2225 2nd St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	24d	1	0.44mi
2227 Second St New Orleans, LA	2.0	2.0	1100	$1,900	$1.73	24d	1	0.44mi
822 Howard Ave Unit 1272354P New Orleans, LA	1.0–5.0	1.0–4.0	1749	$6,618	$3.78	2d	3	0.45mi
1620 Prytania St New Orleans, LA	2.0	1.5	928	$1,600	$1.72	24d	1	0.46mi
875 O'Keefe Ave #205 New Orleans, LA	2.0	2.5	1040	$2,250	$2.16	17d	1	0.46mi
1520 Saint Mary St Unit E New Orleans, LA	2.0	2.0	1381	$2,800	$2.03	44d	1	0.46mi
814 Howard Ave Unit 102 New Orleans, LA	2.0	2.0	1160	$3,800	$3.28	24d	1	0.46mi
2818 Saint Andrew St New Orleans, LA	2.0	1.0	900	$1,550	$1.72	24d	1	0.47mi
2100 Saint Charles Ave Unit 3M New Orleans, LA	2.0	2.0	1425	$3,500	$2.46	44d	1	0.47mi
2100 Saint Charles Ave New Orleans, LA	1.0–2.0	1.5–2.0	1077	$3,500	$3.25	4d	2	0.48mi
2233 Saint Charles Ave New Orleans, LA	2.0	1.0–2.0	637	$2,439	$3.83	2d	1	0.48mi
1501 Clio St Unit 2A New Orleans, LA	2.0	1.0	1000	$2,700	$2.70	11d	1	0.50mi
1501 Clio St Unit 1A New Orleans, LA	3.0	2.0	1200	$2,800	$2.33	11d	1	0.50mi
1225 Coliseum St New Orleans, LA	2.0	2.0	1186	$2,950	$2.49	44d	1	0.52mi
1225 Coliseum St New Orleans, LA	2.0	2.0	1186	$2,950	$2.49	17d	1	0.52mi
1426 Urania St New Orleans, LA	2.0	1.0	1270	$1,350	$1.06	2d	1	0.52mi
1001 Julia St Unit 10B New Orleans, LA	2.0	2.0	1418	$6,650	$4.69	11d	1	0.52mi
1618 Philip St New Orleans, LA	2.0	2.0	1200	$1,950	$1.62	24d	1	0.52mi

Listing history 20 events

1. 2026-06-07
   statusdays on market $125,000 Pending 113 DOM
2. 2026-06-05
   days on market $125,000 Active 111 DOM
3. 2026-06-03
   days on market $125,000 Active 110 DOM
4. 2026-06-02
   days on market $125,000 Active 109 DOM
5. 2026-06-01
   days on market $125,000 Active 108 DOM
6. 2026-05-31
   days on market $125,000 Active 107 DOM
7. 2026-05-15
   status Active 416-char remark

   Show marketing remark (416 chars)

   NEW LOW PRICE!!! 3 Bedroom / 2 Full bath home with front porch, located just off Simon Bolivar Ave. and Martin Luther King Blvd. Great opportunity to purchase a home in an area with many renovations at an affordable price. Would make a great investment or home for the owner/occupant looking to update to their liking. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

8. 2026-05-15
   status Active 416-char remark

   Show marketing remark (416 chars)

   NEW LOW PRICE!!! 3 Bedroom / 2 Full bath home with front porch, located just off Simon Bolivar Ave. and Martin Luther King Blvd. Great opportunity to purchase a home in an area with many renovations at an affordable price. Would make a great investment or home for the owner/occupant looking to update to their liking. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

9. 2026-05-14
   historical 416-char remark

   Show marketing remark (416 chars)

   NEW LOW PRICE!!! 3 Bedroom / 2 Full bath home with front porch, located just off Simon Bolivar Ave. and Martin Luther King Blvd. Great opportunity to purchase a home in an area with many renovations at an affordable price. Would make a great investment or home for the owner/occupant looking to update to their liking. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

10. 2026-04-23
    price $125,000 416-char remark

    Show marketing remark (416 chars)

    NEW LOW PRICE!!! 3 Bedroom / 2 Full bath home with front porch, located just off Simon Bolivar Ave. and Martin Luther King Blvd. Great opportunity to purchase a home in an area with many renovations at an affordable price. Would make a great investment or home for the owner/occupant looking to update to their liking. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

11. 2026-04-23
    price $125,000 416-char remark

    Show marketing remark (416 chars)

    NEW LOW PRICE!!! 3 Bedroom / 2 Full bath home with front porch, located just off Simon Bolivar Ave. and Martin Luther King Blvd. Great opportunity to purchase a home in an area with many renovations at an affordable price. Would make a great investment or home for the owner/occupant looking to update to their liking. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

12. 2026-03-20
    price $135,000 416-char remark

    Show marketing remark (416 chars)

    NEW LOW PRICE!!! 3 Bedroom / 2 Full bath home with front porch, located just off Simon Bolivar Ave. and Martin Luther King Blvd. Great opportunity to purchase a home in an area with many renovations at an affordable price. Would make a great investment or home for the owner/occupant looking to update to their liking. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

13. 2026-03-20
    price $135,000 416-char remark

    Show marketing remark (416 chars)

    NEW LOW PRICE!!! 3 Bedroom / 2 Full bath home with front porch, located just off Simon Bolivar Ave. and Martin Luther King Blvd. Great opportunity to purchase a home in an area with many renovations at an affordable price. Would make a great investment or home for the owner/occupant looking to update to their liking. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

14. 2026-02-10
    listed $145,000 Active 416-char remark

    Show marketing remark (416 chars)

    NEW LOW PRICE!!! 3 Bedroom / 2 Full bath home with front porch, located just off Simon Bolivar Ave. and Martin Luther King Blvd. Great opportunity to purchase a home in an area with many renovations at an affordable price. Would make a great investment or home for the owner/occupant looking to update to their liking. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

15. 2026-02-10
    listed $145,000 Active 416-char remark

    Show marketing remark (416 chars)

    NEW LOW PRICE!!! 3 Bedroom / 2 Full bath home with front porch, located just off Simon Bolivar Ave. and Martin Luther King Blvd. Great opportunity to purchase a home in an area with many renovations at an affordable price. Would make a great investment or home for the owner/occupant looking to update to their liking. Sold in As-Is condition. Won't last long! Call your agent today to schedule your private showing.

16. 1998-04-03
    soldstatus $74,900
17. 1998-04-03
    soldstatus $74,900
18. 1997-12-16
    listed $74,900
19. 1997-12-16
    listed $74,900
20. 1996-07-03
    soldstatus $32,000

ⓘ 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: $1,515 · $126/mo
• Projected year-2 tax: $1,515 · $126/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 7/10 Severe FEMA zone X · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,265
• − Mortgage interest: −$7,002
• − Property taxes: −$1,515
• − Insurance: −$1,422
• − Repairs & maintenance: −$2,021
• − Management: −$2,021
• − Depreciation: −$3,636
• Taxable income: $7,647
• Est. tax owed @ 24.0%: −$1,835
• After-tax cash flow: $7,321/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): 9,387
• Household income: $39,333
• Rent vs Own: 75.4% rent · 24.6% own
• Severe rent burden: 714.0

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 61% White 20% Hispanic / Latino 13% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 2% Portuguese 1% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1% Vietnamese 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: ▲ 65.92%
• Current HPI: 229.3968
• Rent YoY: ▲ 5.98%
• 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

+290.6% since first listed

14 events — show timeline

• 2026-05-15 Relisted — AcadianaMLS
• 2026-05-15 Relisted — GSREIN
• 2026-05-14 Listing Removed — GSREIN
• 2026-04-23 Price Changed $125,000 AcadianaMLS
• 2026-04-23 Price Changed $125,000 GSREIN
• 2026-03-20 Price Changed $135,000 AcadianaMLS
• 2026-03-20 Price Changed $135,000 GSREIN
• 2026-02-10 Listed $145,000 GSREIN
• 2026-02-10 Listed $145,000 AcadianaMLS
• 1998-04-03 Sold (Public Records) $74,900 Public Records
• 1998-04-03 Sold (MLS) $74,900 GSREIN
• 1997-12-16 Listed $74,900 GSREIN
• 1997-12-16 Listed $74,900 AcadianaMLS
• 1996-07-03 Sold (Public Records) $32,000 Public Records

Property tax history

+11.6%/yr

Latest (2026): $1,515 · -5.3% YoY. Source: county tax records.