1923 Montegut St · New Orleans, LA 70117

$139,900

3 bd · 1.0 ba · 1,069 sqft · SingleFamily public records · 1 Days on market

Built 2007 3,627 sqft lot Est $105k · 34% over ↓ 5% since listing

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Why this score? — see what drove the D+ 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 +24.6/30.0
• DSCR +7.9/10.0
• 1% rule +6.0/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 3-bedroom, 1-bath home, perfect for comfortable living! Featuring beautiful wood laminate flooring throughout, this home offers both style and easy maintenance. You'll love the peace of mind with a new roof and the fenced -in backyard, perfect for outdoor activities or relaxing. Conveniently located just minutes from the CBD. The kitchen will be furnished with a stove and refrigerator , making it truly move-in ready!

Key facts

• 3,627 sq ft lot
• Built 2007

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 8.8% 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 (+2.5%/yr); 581 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); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• This rent runs 40% of the median local income ($46k/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 $967 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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.

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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,900

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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: 1.10% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.84%
• DSCR: 1.39
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $104,762
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1644 Desire St	0.37mi	3/1.0	1,100 (+3%)	8mo	$135,000	$123	71
3221 N Miro St	0.31mi	3/2.0	1,030 (-4%)	9mo	$72,000	$70	68
2623 N Villere	0.46mi	2/1.0 (-1)	1,078 (+1%)	6mo	$95,000	$88	67
3137 N Miro St	0.26mi	2/1.5 (-1)	1,034 (-3%)	11mo	$42,500	$41	66
3120 Urquhart St	0.51mi	3/1.0	1,134 (+6%)	1mo	$90,000	$79	65
3319 N Dorgenois St	0.51mi	3/1.0	1,024 (-4%)	7mo	$75,500	$74	63
1601 Mandeville St	0.71mi	3/1.0	1,118 (+5%)	2mo	$155,000	$139	58
2519 Desire St	0.56mi	3/1.0	1,023 (-4%)	11mo	$136,000	$133	58
2618 N Rocheblave St	0.62mi	3/2.0	1,168 (+9%)	1mo	$115,000	$98	51
1431 Port St	0.41mi	3/2.0	1,194 (+12%)	11mo	$210,000	$176	49
1410 Desire St	0.50mi	2/1.0 (-1)	980 (-8%)	11mo	$45,000	$46	49
1014 Music St	0.75mi	2/2.0 (-1)	1,214 (+14%)	5mo	$269,000	$222	30

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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.76×
• Total profit: $-9,274
• Equity at exit: $20,860

10-year hold

• IRR: 2.6%
• Equity multiple: 1.18×
• Total profit: $7,104
• Equity at exit: $12,096

Cash invested: $39,172 (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 70117

• Rents YoY: 2.5%
• Active inventory: 581
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,543 high
• Mortgage (P&I): −$734
• Tax from tax record: −$139 /mo · $1,664/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $222

Break-even live

Break-even rent $1,262

Max offer price $139,900

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1905 Montegut St New Orleans, LA	2.0	1.5	870	$1,275	$1.47	24d	1	0.05mi
2027 Feliciana St New Orleans, LA	2.0	1.0	1104	$1,100	$1.00	16d	1	0.08mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	24d	1	0.13mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	16d	1	0.13mi
2010 Saint Ferdinand St New Orleans, LA	2.0	1.0	909	$1,650	$1.82	24d	1	0.18mi
3125 Industrial Ct New Orleans, LA	2.0	2.5	1100	$1,450	$1.32	24d	1	0.21mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	16d	1	0.22mi
2017 Louisa St New Orleans, LA	3.0	1.0	750	$1,300	$1.73	17d	1	0.22mi
2019 Louisa St New Orleans, LA	3.0	1.0	750	$1,500	$2.00	17d	1	0.22mi
3201 N Galvez St Unit 2B New Orleans, LA	2.0	1.0	700	$1,250	$1.79	24d	1	0.24mi
1942 Piety St New Orleans, LA	3.0	1.0	1100	$1,500	$1.36	24d	1	0.24mi
1822 Piety St New Orleans, LA	3.0	1.5	1200	$1,500	$1.25	16d	1	0.26mi
2003 Almonaster Ave New Orleans, LA	3.0	2.0	988	$1,600	$1.62	24d	1	0.26mi
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	24d	1	0.29mi
1904 Desire St New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	10d	1	0.31mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	24d	1	0.31mi
2219 Almonaster Ave Unit A New Orleans, LA	2.0	1.0	950	$1,500	$1.58	24d	1	0.32mi
1614 Louisa St New Orleans, LA	2.0	1.0	733	$1,100	$1.50	24d	1	0.32mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	3d	1	0.37mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	3d	1	0.37mi
2241 Eads St New Orleans, LA	2.0	1.0	867	$1,500	$1.73	24d	1	0.38mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	24d	1	0.39mi
1924 Painters St New Orleans, LA	3.0	1.0	920	$1,700	$1.85	3d	1	0.39mi
1922 Painters St New Orleans, LA	3.0	1.0	920	$1,700	$1.85	3d	1	0.40mi
2421 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	12d	1	0.41mi
2423 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	12d	1	0.41mi
2516 N Roman St Unit 2518 New Orleans, LA	2.0	1.0	800	$1,500	$1.88	3d	1	0.42mi
3137 N Dorgenois St New Orleans, LA	2.0	2.0	960	$1,440	$1.50	17d	1	0.42mi
3135 N Dorgenois St New Orleans, LA	2.0	2.0	960	$1,440	$1.50	24d	1	0.43mi
1713 Gallier St Unit B New Orleans, LA	2.0	1.0	1000	$1,099	$1.10	24d	1	0.43mi
2519 N Derbigny St New Orleans, LA	3.0	1.0	994	$1,300	$1.31	21d	1	0.43mi
1715 Gallier St Unit B New Orleans, LA	2.0	1.0	1000	$1,099	$1.10	24d	1	0.43mi
2524 N Galvez St New Orleans, LA	3.0	2.5	1102	$1,800	$1.63	17d	1	0.44mi
2522 N Galvez St New Orleans, LA	3.0	2.0	1105	$1,675	$1.52	24d	1	0.44mi
3133 N Villere St New Orleans, LA	2.0	1.0	715	$1,250	$1.75	24d	1	0.45mi
2515 N Galvez St New Orleans, LA	4.0	2.0	1200	$1,200	$1.00	10d	1	0.46mi
2515 N Galvez St Unit 2515 New Orleans, LA	4.0	2.0	1200	$1,900	$1.58	24d	1	0.46mi
1320 Feliciana St New Orleans, LA	2.0	2.0	1200	$2,000	$1.67	24d	1	0.47mi
2509 Piety St New Orleans, LA	2.0	2.0	1056	$1,450	$1.37	24d	1	0.48mi
2238 Painters St New Orleans, LA	2.0	1.0	896	$1,300	$1.45	24d	1	0.50mi

Listing history 4 events

1. 2024-12-04
   soldstatus $133,000 Closed 445-char remark

   Show marketing remark (445 chars)

   Welcome to this charming 3-bedroom, 1-bath home, perfect for comfortable living! Featuring beautiful wood laminate flooring throughout, this home offers both style and easy maintenance. You'll love the peace of mind with a new roof and the fenced -in backyard, perfect for outdoor activities or relaxing. Conveniently located just minutes from the CBD. The kitchen will be furnished with a stove and refrigerator , making it truly move-in ready!

2. 2024-10-25
   status Pending 445-char remark

   Show marketing remark (445 chars)

   Welcome to this charming 3-bedroom, 1-bath home, perfect for comfortable living! Featuring beautiful wood laminate flooring throughout, this home offers both style and easy maintenance. You'll love the peace of mind with a new roof and the fenced -in backyard, perfect for outdoor activities or relaxing. Conveniently located just minutes from the CBD. The kitchen will be furnished with a stove and refrigerator , making it truly move-in ready!

3. 2024-10-24
   listed $139,900 Active 445-char remark

   Show marketing remark (445 chars)

   Welcome to this charming 3-bedroom, 1-bath home, perfect for comfortable living! Featuring beautiful wood laminate flooring throughout, this home offers both style and easy maintenance. You'll love the peace of mind with a new roof and the fenced -in backyard, perfect for outdoor activities or relaxing. Conveniently located just minutes from the CBD. The kitchen will be furnished with a stove and refrigerator , making it truly move-in ready!

4. 2024-10-24
   listed $139,900 Active

   Show marketing remark (445 chars)

   Welcome to this charming 3-bedroom, 1-bath home, perfect for comfortable living! Featuring beautiful wood laminate flooring throughout, this home offers both style and easy maintenance. You'll love the peace of mind with a new roof and the fenced -in backyard, perfect for outdoor activities or relaxing. Conveniently located just minutes from the CBD. The kitchen will be furnished with a stove and refrigerator , making it truly move-in ready!

ⓘ 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: $1,664 · $139/mo
• Projected year-2 tax: $1,664 · $139/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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,519
• − Mortgage interest: −$7,837
• − Property taxes: −$1,664
• − Insurance: −$1,497
• − Repairs & maintenance: −$1,481
• − Management: −$1,481
• − Depreciation: −$4,070
• Taxable income: $488
• Est. tax owed @ 24.0%: −$117
• After-tax cash flow: $2,547/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): 25,652
• Household income: $45,764
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1988.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 30% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 5% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 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: ▼ -177.22%
• Current HPI: 184.6061
• Rent YoY: ▲ 2.49%
• 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

-4.9% since first listed

4 events — show timeline

• 2024-12-04 Sold (MLS) $133,000 GSREIN
• 2024-10-25 Pending — GSREIN
• 2024-10-24 Listed $139,900 AcadianaMLS
• 2024-10-24 Listed $139,900 GSREIN