5109 Eastern St · New Orleans, LA 70122

$85,000

2 bd · 2.0 ba · 1,053 sqft · SingleFamily public records · 16 Days on market

Built 1966

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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
• ARV discount +7.5/15.0
• 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

The Front Porch of this cottage is great area to relax and have room for visitors. To the right of the house is a long driveway the length of the house. Inside the front door is a living room with an arch to the dining room The kitchen leads to the very large rear yard. There is an area in the kitchen with hookups for washer and dryer. The full bath is located between the two bedrooms. The large back yard affords room for many outdoor activities.

Key facts

• Front porch
• Living room
• Arch to dining room

Tags

• FRONT PORCH
• LONG DRIVEWAY
• LIVING ROOM
• ARCH TO DINING ROOM
• VERY LARGE REAR YARD
• HOOKUPS FOR WASHER AND DRYER

Property features AI

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-story home; Raised foundation
• Construction: Wood siding construction; Built with a raised foundation
• Exterior features: Front porch; Fence; Rectangular city lot (approx. 50 x 120)

Interior

• Kitchen: Range
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: 6 total rooms; Average condition

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $489 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.1% 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.
• Zoned schools: Benjamin Franklin Elem. Math And Science (math 12% / reading 23%, grade F, #479 of 646 statewide, top 75%, 747 students, 98% FRL, charter) — zoned schools average 98% FRL vs 68% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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).
• This rent runs 38% of the median local income ($49k/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 $588 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 27y 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: property tax is 2.8% of price; 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 $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.84% ✓
• Cap rate: 14.14%
• Cash-on-cash: 28.01%
• DSCR: 2.25
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $174,798
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2757 Dreux Ave	0.12mi	2/1.0	1,140 (+8%)	7mo	$145,000	$127	71
5607 Baccich St	0.38mi	2/2.0	1,063 (+1%)	16mo	$190,000	$179	68
4635 Eastern St	0.32mi	2/2.0	1,120 (+6%)	13mo	$225,000	$201	63
4767 Painters St	0.38mi	2/1.0	960 (-9%)	1mo	$217,795	$227	63
4712 Lafaye St	0.27mi	2/1.0	1,157 (+10%)	9mo	$217,500	$188	59
4951 Feliciana Dr	0.39mi	3/1.0 (+1)	1,118 (+6%)	4mo	$102,268	$91	59
4033 Odin St	0.44mi	3/2.0 (+1)	1,124 (+7%)	10mo	$200,000	$178	54
5108 Feliciana Dr	0.36mi	3/1.5 (+1)	1,147 (+9%)	13mo	$129,000	$112	50
5923 Painters St	0.70mi	3/2.0 (+1)	1,125 (+7%)	3mo	$159,900	$142	48
2856 Hiawatha St	0.74mi	2/2.0	1,102 (+5%)	12mo	$170,000	$154	48
2769 Pressburg St	0.61mi	2/2.0	1,202 (+14%)	8mo	$200,000	$166	42
2516 Wisteria St	0.74mi	2/1.0	1,143 (+8%)	10mo	$160,000	$140	39

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: 14.2%
• Equity multiple: 1.54×
• Total profit: $12,920
• Equity at exit: $12,674

10-year hold

• IRR: 20.2%
• Equity multiple: 2.44×
• Total profit: $34,158
• Equity at exit: $7,349

Cash invested: $23,800 (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: 4.5×

Monthly cashflow live

• Estimated rent: $1,563 high
• Mortgage (P&I): −$446
• Tax from tax record: −$198 /mo · $2,372/yr
• Insurance: −$35
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $489

Break-even live

Break-even rent $943

Max offer price $85,000

Occupancy floor 64%

Sensitivity live

Price	-10% $537	-5% $513	+0% $489	+5% $465	+10% $441
Rent	-10% $366	-5% $427	+0% $489	+5% $551	+10% $613
Rate	-1.0pp $532	-0.5pp $511	base $489	+0.5pp $467	+1.0pp $445

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4951 Eastern St New Orleans, LA	2.0	1.0	850	$1,350	$1.59	25d	1	0.06mi
4936 Baccich St New Orleans, LA	3.0	1.0	1053	$1,700	$1.61	25d	1	0.11mi
4767 Lafaye St New Orleans, LA	3.0	2.0	1469	$2,000	$1.36	25d	1	0.20mi
4681 Eastern St New Orleans, LA	2.0	1.0	1100	$1,400	$1.27	17d	1	0.27mi
4926 Venus St Unit 4926 New Orleans, LA	2.0	1.0	800	$1,200	$1.50	4d	1	0.32mi
5401 Montegut Dr New Orleans, LA	1.0	1.0	1000	$1,200	$1.20	17d	1	0.44mi
5905 Lafaye St New Orleans, LA	3.0	1.0	911	$1,700	$1.87	25d	1	0.61mi
2754 Jasmine St New Orleans, LA	3.0	1.0	1020	$1,750	$1.72	25d	1	0.70mi
4722 Mithra St New Orleans, LA	3.0	1.5	1295	$1,600	$1.24	25d	1	0.71mi
5519 Mandeville St New Orleans, LA	3.0	1.0	1125	$1,650	$1.47	4d	1	0.71mi
2844 Hiawatha St New Orleans, LA	2.0	1.0	975	$1,475	$1.51	25d	1	0.73mi
6036 Franklin Ave New Orleans, LA	2.0	1.0	898	$1,200	$1.34	18d	1	0.77mi
4023 Franklin Ave New Orleans, LA	3.0	2.0	1000	$1,700	$1.70	4d	1	0.78mi
2671 Gladiolus St Unit 2669 New Orleans, LA	2.0	1.0	830	$1,250	$1.51	25d	1	0.79mi
4618 Marigny St New Orleans, LA	3.0	1.0	1320	$1,900	$1.44	25d	1	0.79mi
4616 Marigny St New Orleans, LA	2.0	1.0	1020	$1,750	$1.72	22d	1	0.79mi
5925 Saint Roch Ave New Orleans, LA	2.0	1.0	1000	$1,550	$1.55	18d	1	0.80mi
2650 Gladiolus St New Orleans, LA	2.0	1.0	900	$1,600	$1.78	25d	1	0.82mi
6226 Lafaye St New Orleans, LA	2.0	2.0	1137	$2,600	$2.29	45d	1	0.87mi
6226 Lafaye St New Orleans, LA	2.0	2.0	1137	$2,600	$2.29	13d	1	0.87mi
6222 Arts St Unit 6226 New Orleans, LA	2.0	1.5	1120	$1,250	$1.12	25d	1	0.94mi
2425 Jonquil St New Orleans, LA	2.0	2.0	1038	$1,500	$1.45	25d	1	0.94mi
2512 Mexico St New Orleans, LA	3.0	2.0	975	$1,550	$1.59	25d	1	0.95mi
2312 Madrid St New Orleans, LA	2.0	1.0	1100	$1,475	$1.34	25d	1	0.95mi
2700 Clover St New Orleans, LA	2.0	1.0	800	$1,250	$1.56	25d	1	0.97mi
2702 Clover St New Orleans, LA	2.0	2.0	880	$1,300	$1.48	25d	1	0.98mi
5332 Pasteur Blvd New Orleans, LA	1.0	1.0	800	$1,000	$1.25	12d	1	0.98mi
5747 Pauline Dr New Orleans, LA	3.0	1.0	1300	$1,400	$1.08	13d	1	1.00mi
5718 Vermillion Blvd Unit A New Orleans, LA	3.0	1.0	1300	$2,000	$1.54	25d	1	1.02mi
5546 Pasteur Blvd Unit A New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	25d	1	1.04mi
5723 Pasteur Blvd New Orleans, LA	3.0	2.0	1150	$1,700	$1.48	18d	1	1.05mi
5151 Saint Anthony Ave New Orleans, LA	3.0	2.0	1200	$1,795	$1.50	17d	1	1.05mi
2558 Acacia St New Orleans, LA	2.0	1.0	900	$1,500	$1.67	25d	1	1.06mi
6009 Vermillion Blvd Unit B New Orleans, LA	1.0	1.0	700	$950	$1.36	3d	1	1.08mi
6530 Peoples Ave New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	25d	1	1.08mi
2701 03 Frankfort St New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	25d	1	1.09mi
4736 Saint Anthony Ave New Orleans, LA	3.0	1.0	1100	$1,800	$1.64	17d	1	1.12mi
5322 Saint Anthony Ave New Orleans, LA	3.0	2.0	1192	$2,000	$1.68	17d	1	1.13mi
6009 Pasteur Blvd New Orleans, LA	3.0	2.0	1250	$1,785	$1.43	25d	1	1.13mi
2508 Myrtle St New Orleans, LA	1.0	1.0	1100	$1,250	$1.14	25d	1	1.13mi

Listing history 11 events

1. 2026-06-21
   days on market $85,000 Active 16 DOM
2. 2026-06-18
   days on market $85,000 Active 13 DOM
3. 2026-06-17
   days on market $85,000 Active 12 DOM
4. 2026-06-16
   days on market $85,000 Active 11 DOM
5. 2026-06-15
   days on market $85,000 Active 10 DOM
6. 2026-06-13
   days on market $85,000 Active 8 DOM
7. 2026-06-10
   days on market $85,000 Active 5 DOM
8. 2026-06-09
   days on market $85,000 Active 4 DOM
9. 2026-06-08
   days on market $85,000 Active 3 DOM
10. 2026-06-07
    remarks 450-char remark
11. 2026-06-07
    listed $85,000 Active 2 DOM

ⓘ 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: $2,372 · $198/mo
• Projected year-2 tax: $2,372 · $198/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 ≥107°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: $18,751
• − Mortgage interest: −$4,761
• − Property taxes: −$2,372
• − Insurance: −$1,222
• − Repairs & maintenance: −$1,500
• − Management: −$1,500
• − Depreciation: −$2,473
• Taxable income: $4,922
• Est. tax owed @ 24.0%: −$1,181
• After-tax cash flow: $4,688/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

+112.5% since first listed

20 events — show timeline

• 2026-05-29 Listed $85,000 GSREIN
• 2026-05-29 Listed $85,000 AcadianaMLS
• 2023-01-11 Listed $179,000 AcadianaMLS
• 2022-06-22 Price Changed $179,000 GSREIN
• 2022-05-13 Listed $179,000 AcadianaMLS
• 2016-06-15 Sold (MLS) $110,000 GSREIN
• 2016-05-13 Pending — GSREIN
• 2016-04-06 Price Changed $119,900 GSREIN
• 2016-02-25 Listing Removed — GSREIN
• 2016-02-25 Relisted — GSREIN
• 2016-02-25 Listed — GSREIN
• 2016-02-24 Listed $119,900 AcadianaMLS
• 2015-12-09 Price Changed $127,000 GSREIN
• 2015-10-29 Listed $139,000 GSREIN
• 2015-10-29 Listed $127,000 AcadianaMLS
• 1999-05-19 Sold (Public Records) $48,000 Public Records
• 1999-05-19 Sold (MLS) $48,000 GSREIN
• 1999-03-15 Listed $52,500 AcadianaMLS
• 1999-03-15 Listed $52,500 GSREIN
• 1991-06-27 Sold (Public Records) $40,000 Public Records

Property tax history

+3.9%/yr

Latest (2026): $2,372 · +1.1% YoY. Source: county tax records.