815-17 Sumner St · New Orleans, LA 70114

$265,000

4 bd · 2.0 ba · 2,226 sqft · SingleFamily public records · 42 Days on market

Built 1970 7,840 sqft lot $119/sqft · 8% above area Est $365k · 27% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.5/30.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• 1% rule +3.5/10.0
• 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

Investment opportunity at 815-817 Sumner featuring a well-maintained duplex with immediate income and significant upside potential in a great location. The property includes an additional detached structure of approximately 1,100 sq ft. This property delivers a compelling combination of existing income, extensive updates, and future development potential. Looking to scale cash flow and build long-term equity? One unit is currently tenant-occupied at $1,338/month (lease through October 31), offering stable cash flow from day one. The property is also eligible for a HANO 3-bedroom voucher, creating strong potential for consistent, reliable rental income. ------------------ This asset has undergone major capital improvements, including roof work, plumbing upgrades, repaired A/C, new windows, updated flooring, and new tile in the kitchen. Additional enhancements include freshly painted cabinets, new blinds, updated ceiling fans, new exterior lighting, new switch covers, new toilet, and a new refrigerator. Some foundation repairs needed. The 817 unit features a new stove (2026), and gas service on the 815 side. ------------------ Both units offer washer/dryer hookups, with additional double hookups located in the backyard flex building, adding convenience and tenant appeal. ------------------ Separated electricity and gas but one water meter overall. Back unit is tied to the vacant, 817 side. ---- Value-Add Highlight: The property includes an additional detached structure of approximately 1,100 sq ft, presenting a prime opportunity for expansion - additional land space behind the building would make potential courtyard. Electrical and water are available. A storage closet and space for a bathroom is also there - get creative! With the right improvements, this space could potentially be converted into one or two additional rental units, with an estimated $1,500/month in added rental income, significantly increasing overall cash flow and return on investment.

Key facts

• Detached structure
• Existing income
• Extensive updates

Tags

• WELL MAINTAINED DUPLEX
• DETACHED STRUCTURE
• EXISTING INCOME
• EXTENSIVE UPDATES
• FUTURE DEVELOPMENT POTENTIAL
• MAJOR CAPITAL IMPROVEMENTS

🏷️ Possibly a rental listed for sale. The $265,000 price doesn't fit this home's estimated sale value (~$365,380) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-7 ($-83/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (14.8% below list).
• Recommended offer: $226k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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 soft (-0.7%/yr); 265 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).
• At $2,257/mo this rent would consume 62% of the median local household income ($43k/yr) (locally 2240% 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 $2k of loan paydown is wiped out by about $8k 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 42 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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.
• Current owner paid $139k; list at $265k implies a 91% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,677 (14.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.96%
• DSCR: 1.04
• GRM: 9.8

CMA / ARV

• ARV (median comp): $365,380
• List price: $265,000
• Delta: -27.47%
• 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
407 Abalon Ct	0.47mi	3/2.5 (-1)	2,300 (+3%)	2mo	$502,000	$218	64
449 Abalon Ct	0.47mi	3/3.0 (-1)	2,322 (+4%)	1mo	$510,000	$220	61
437 Abalon Ct	0.46mi	3/2.0 (-1)	2,392 (+8%)	3mo	$470,000	$196	59
435 Atlantic Ave	0.53mi	5/2.5 (+1)	2,350 (+6%)	2mo	$469,000	$200	57
313 Atlantic Ave	0.60mi	4/3.0	2,112 (-5%)	3mo	$500,000	$237	57
624 Wagner St	0.15mi	3/2.5 (-1)	1,938 (-13%)	10mo	$385,000	$199	56
518 Pacific Ave	0.53mi	3/3.0 (-1)	2,296 (+3%)	11mo	$380,000	$166	52
1221 Patterson Dr	0.60mi	4/2.5	2,099 (-6%)	14mo	$507,500	$242	49
400 Abalon Ct	0.46mi	4/3.0	2,414 (+8%)	15mo	$515,000	$213	48
430 Belleville St	0.67mi	3/2.0 (-1)	2,272 (+2%)	15mo	$425,000	$187	48
117 Hubbell Rd W	0.63mi	4/3.5	2,102 (-6%)	12mo	$530,000	$252	45
820 Eliza St	0.64mi	3/3.0 (-1)	1,900 (-15%)	9mo	$359,000	$189	29

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: -19.8%
• Equity multiple: 0.33×
• Total profit: $-49,987
• Equity at exit: $39,512

10-year hold

• IRR: -20.7%
• Equity multiple: 0.06×
• Total profit: $-69,621
• Equity at exit: $22,912

Cash invested: $74,200 (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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,257 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$223 /mo · $2,678/yr
• Insurance: −$110
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $-7

Break-even live

Break-even rent $2,266

Max offer price $263,777

Occupancy floor 95%

Sensitivity live

Price	-10% $143	-5% $68	+0% $-7	+5% $-82	+10% $-157
Rent	-10% $-185	-5% $-96	+0% $-7	+5% $82	+10% $171
Rate	-1.0pp $127	-0.5pp $60	base $-7	+0.5pp $-76	+1.0pp $-145

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	17d	1	0.46mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	25d	1	0.49mi
729 Elmira Ave New Orleans, LA	4.0	2.0	2000	$2,000	$1.00	17d	1	0.56mi
1684 Lauradale Dr New Orleans, LA	4.0	2.0	1571	$2,000	$1.27	25d	1	0.78mi
433 Homer St Unit 1 New Orleans, LA	4.0	2.0	1570	$1,850	$1.18	25d	1	0.80mi
249 Vallette St New Orleans, LA	4.0	2.0	1734	$2,500	$1.44	17d	1	0.80mi
119 Vallette St New Orleans, LA	3.0	2.5	1500	$2,100	$1.40	25d	1	0.85mi
513 Park Blvd New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	4d	1	0.88mi
2320 Mardi Gras Blvd New Orleans, LA	4.0	2.5	1600	$2,500	$1.56	3d	1	1.04mi
1774 Pace Blvd New Orleans, LA	4.0	2.5	1574	$2,000	$1.27	25d	1	1.07mi
639 Desire St New Orleans, LA	3.0	2.5	2687	$5,500	$2.05	21d	1	1.07mi
1825 Murl St New Orleans, LA	3.0	2.0	2484	$1,750	$0.70	25d	1	1.11mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	25d	1	1.29mi
3441 Catalina Dr New Orleans, LA	5.0	2.0	1610	$2,450	$1.52	13d	1	1.36mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	25d	1	1.43mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	1.49mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	1.49mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	1.49mi

Listing history 7 events

1. 2026-05-03
   status Pending 1986-char remark

   Show marketing remark (1986 chars)

   Investment opportunity at 815-817 Sumner featuring a well-maintained duplex with immediate income and significant upside potential in a great location. The property includes an additional detached structure of approximately 1,100 sq ft. This property delivers a compelling combination of existing income, extensive updates, and future development potential. Looking to scale cash flow and build long-term equity? One unit is currently tenant-occupied at $1,338/month (lease through October 31), offering stable cash flow from day one. The property is also eligible for a HANO 3-bedroom voucher, creating strong potential for consistent, reliable rental income. ------------------ This asset has undergone major capital improvements, including roof work, plumbing upgrades, repaired A/C, new windows, updated flooring, and new tile in the kitchen. Additional enhancements include freshly painted cabinets, new blinds, updated ceiling fans, new exterior lighting, new switch covers, new toilet, and a new refrigerator. Some foundation repairs needed. The 817 unit features a new stove (2026), and gas service on the 815 side. ------------------ Both units offer washer/dryer hookups, with additional double hookups located in the backyard flex building, adding convenience and tenant appeal. ------------------ Separated electricity and gas but one water meter overall. Back unit is tied to the vacant, 817 side. ---- Value-Add Highlight: The property includes an additional detached structure of approximately 1,100 sq ft, presenting a prime opportunity for expansion - additional land space behind the building would make potential courtyard. Electrical and water are available. A storage closet and space for a bathroom is also there - get creative! With the right improvements, this space could potentially be converted into one or two additional rental units, with an estimated $1,500/month in added rental income, significantly increasing overall cash flow and return on investment.

2. 2026-04-14
   status Active 1986-char remark

   Show marketing remark (1986 chars)

   Investment opportunity at 815-817 Sumner featuring a well-maintained duplex with immediate income and significant upside potential in a great location. The property includes an additional detached structure of approximately 1,100 sq ft. This property delivers a compelling combination of existing income, extensive updates, and future development potential. Looking to scale cash flow and build long-term equity? One unit is currently tenant-occupied at $1,338/month (lease through October 31), offering stable cash flow from day one. The property is also eligible for a HANO 3-bedroom voucher, creating strong potential for consistent, reliable rental income. ------------------ This asset has undergone major capital improvements, including roof work, plumbing upgrades, repaired A/C, new windows, updated flooring, and new tile in the kitchen. Additional enhancements include freshly painted cabinets, new blinds, updated ceiling fans, new exterior lighting, new switch covers, new toilet, and a new refrigerator. Some foundation repairs needed. The 817 unit features a new stove (2026), and gas service on the 815 side. ------------------ Both units offer washer/dryer hookups, with additional double hookups located in the backyard flex building, adding convenience and tenant appeal. ------------------ Separated electricity and gas but one water meter overall. Back unit is tied to the vacant, 817 side. ---- Value-Add Highlight: The property includes an additional detached structure of approximately 1,100 sq ft, presenting a prime opportunity for expansion - additional land space behind the building would make potential courtyard. Electrical and water are available. A storage closet and space for a bathroom is also there - get creative! With the right improvements, this space could potentially be converted into one or two additional rental units, with an estimated $1,500/month in added rental income, significantly increasing overall cash flow and return on investment.

3. 2026-04-09
   status Pending 1986-char remark

   Show marketing remark (1986 chars)

   Investment opportunity at 815-817 Sumner featuring a well-maintained duplex with immediate income and significant upside potential in a great location. The property includes an additional detached structure of approximately 1,100 sq ft. This property delivers a compelling combination of existing income, extensive updates, and future development potential. Looking to scale cash flow and build long-term equity? One unit is currently tenant-occupied at $1,338/month (lease through October 31), offering stable cash flow from day one. The property is also eligible for a HANO 3-bedroom voucher, creating strong potential for consistent, reliable rental income. ------------------ This asset has undergone major capital improvements, including roof work, plumbing upgrades, repaired A/C, new windows, updated flooring, and new tile in the kitchen. Additional enhancements include freshly painted cabinets, new blinds, updated ceiling fans, new exterior lighting, new switch covers, new toilet, and a new refrigerator. Some foundation repairs needed. The 817 unit features a new stove (2026), and gas service on the 815 side. ------------------ Both units offer washer/dryer hookups, with additional double hookups located in the backyard flex building, adding convenience and tenant appeal. ------------------ Separated electricity and gas but one water meter overall. Back unit is tied to the vacant, 817 side. ---- Value-Add Highlight: The property includes an additional detached structure of approximately 1,100 sq ft, presenting a prime opportunity for expansion - additional land space behind the building would make potential courtyard. Electrical and water are available. A storage closet and space for a bathroom is also there - get creative! With the right improvements, this space could potentially be converted into one or two additional rental units, with an estimated $1,500/month in added rental income, significantly increasing overall cash flow and return on investment.

4. 2026-03-20
   listed $265,000 Active 1986-char remark

   Show marketing remark (1986 chars)

   Investment opportunity at 815-817 Sumner featuring a well-maintained duplex with immediate income and significant upside potential in a great location. The property includes an additional detached structure of approximately 1,100 sq ft. This property delivers a compelling combination of existing income, extensive updates, and future development potential. Looking to scale cash flow and build long-term equity? One unit is currently tenant-occupied at $1,338/month (lease through October 31), offering stable cash flow from day one. The property is also eligible for a HANO 3-bedroom voucher, creating strong potential for consistent, reliable rental income. ------------------ This asset has undergone major capital improvements, including roof work, plumbing upgrades, repaired A/C, new windows, updated flooring, and new tile in the kitchen. Additional enhancements include freshly painted cabinets, new blinds, updated ceiling fans, new exterior lighting, new switch covers, new toilet, and a new refrigerator. Some foundation repairs needed. The 817 unit features a new stove (2026), and gas service on the 815 side. ------------------ Both units offer washer/dryer hookups, with additional double hookups located in the backyard flex building, adding convenience and tenant appeal. ------------------ Separated electricity and gas but one water meter overall. Back unit is tied to the vacant, 817 side. ---- Value-Add Highlight: The property includes an additional detached structure of approximately 1,100 sq ft, presenting a prime opportunity for expansion - additional land space behind the building would make potential courtyard. Electrical and water are available. A storage closet and space for a bathroom is also there - get creative! With the right improvements, this space could potentially be converted into one or two additional rental units, with an estimated $1,500/month in added rental income, significantly increasing overall cash flow and return on investment.

5. 2016-02-11
   soldstatus $139,000
6. 2015-09-11
   listed $155,000 461-char remark

   Show marketing remark (461 chars)

   Calling on all investors, double for sale 3bd 1 bath on each side rented ($1840 total) since 2014 through 2016. Opposite floor plans with wood floors throughout except in kitchen and bathrooms. A/C system on 1 1/2 yrs old and repaired missing shingles on roof. Rear of the property can be converted to a one bedroom or studio apartment w/garage for additional income. Rear unit already has water, gas and electricity. One water meter, tenants split bill evenly.

7. 2012-10-30
   listed $100,000

ⓘ 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: $2,678 · $223/mo
• Projected year-2 tax: $2,678 · $223/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 · 74% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,081
• − Mortgage interest: −$14,844
• − Property taxes: −$2,678
• − Insurance: −$2,122
• − Repairs & maintenance: −$2,166
• − Management: −$2,166
• − Depreciation: −$7,709
• Taxable loss: −$4,606
• Est. tax savings @ 24.0%: +$1,105
• After-tax cash flow: $1,022/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): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

+165.0% since first listed

7 events — show timeline

• 2026-05-03 Pending — AcadianaMLS
• 2026-04-14 Relisted — AcadianaMLS
• 2026-04-09 Pending — AcadianaMLS
• 2026-03-20 Listed $265,000 AcadianaMLS
• 2016-02-11 Sold (Public Records) $139,000 Public Records
• 2015-09-11 Listed $155,000 AcadianaMLS
• 2012-10-30 Listed $100,000 AcadianaMLS

Property tax history

+5.0%/yr

Latest (2026): $2,678 · +0.0% YoY. Source: county tax records.