3121 N Johnson St · New Orleans, LA 70117

$229,000

6 bd · 1.0 ba · 1,111 sqft · SingleFamily public records · 285 Days on market

Built 1940 5,100 sqft lot $206/sqft · 91% above area

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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 +20.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.5/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this stunning renovation featuring 3 bedrooms and 2 full baths, including a spacious primary en suite with a custom walk-in closet. Designed for both comfort and style, this home boasts vinyl waterproof plank flooring, recessed lighting, and an open floor plan nice for modern living, comfort and entertaining. The gourmet kitchen is equipped with marble countertops, an abundance of cabinets, stainless steel appliances. Bonus room can be a walk-in pantry or office space--sweet for today's lifestyle. A laundry room with washer and dryer included adds extra convenience. Enjoy the outdoors on an oversized deep lot with a privacy fence, offering plenty of room for entertaining, gardening, or relaxation. Additional updates include a new roof, beautiful esthetics and thoughtful storage solutions throughout and more. This move-in ready home combines quality finishes, functional spaces, and timeless style--a true must see! LEASE PURCHASE OPTIONS AVAILABLE!

Key facts

• Marble countertops
• Gourmet kitchen
• Privacy fence

Tags

• CUSTOM WALK-IN CLOSET
• GOURMET KITCHEN
• MARBLE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• OVERSIZED DEEP LOT
• PRIVACY FENCE

What this means for you Summary

Snapshot

• This is a 6-bed/1.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $229k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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; 1 comparable units currently listed for rent nearby; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,407/mo this rent would consume 63% of the median local household income ($46k/yr) (locally 1988% 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 $7k 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 285 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 7y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $229k implies a 500% 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 $201,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 285 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.05% ✓
• Cap rate: 7.96%
• Cash-on-cash: 5.96%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

• ARV (median comp): $141,441
• List price: $229,000
• Delta: 61.90%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.65×
• Total profit: $-22,197
• Equity at exit: $34,145

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-3,324
• Equity at exit: $19,800

Cash invested: $64,120 (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: 7.9×

Monthly cashflow live

• Estimated rent: $2,407 medium
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$505
• Net cashflow: $252

Break-even live

Break-even rent $2,087

Max offer price $229,000

Occupancy floor 85%

Sensitivity live

Price	-10% $410	-5% $331	+0% $252	+5% $173	+10% $94
Rent	-10% $62	-5% $157	+0% $252	+5% $347	+10% $442
Rate	-1.0pp $368	-0.5pp $310	base $252	+0.5pp $193	+1.0pp $132

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$8,133	$5.14	4d	2	1.05mi

Listing history 26 events

1. 2026-06-15
   days on market $229,000 Active 285 DOM
2. 2026-06-13
   days on market $229,000 Active 283 DOM
3. 2026-06-10
   days on market $229,000 Active 280 DOM
4. 2026-06-09
   days on market $229,000 Active 279 DOM
5. 2026-06-08
   days on market $229,000 Active 278 DOM
6. 2026-06-07
   days on market $229,000 Active 277 DOM
7. 2026-06-05
   days on market $229,000 Active 274 DOM
8. 2026-06-03
   days on market $229,000 Active 273 DOM
9. 2026-06-02
   days on market $229,000 Active 272 DOM
10. 2026-06-01
    days on market $229,000 Active 271 DOM
11. 2026-05-31
    days on market $229,000 Active 270 DOM
12. 2026-03-11
    price $229,500 970-char remark

    Show marketing remark (986 chars)

    Step into this stunning renovation featuring 3 bedrooms and 2 full baths, including a spacious primary en suite with a custom walk-in closet. Designed for both comfort and style, this home boasts vinyl waterproof plank flooring, recessed lighting, and an open floor plan nice for modern living, comfort and entertaining. The gourmet kitchen is equipped with marble countertops, an abundance of cabinets, stainless steel appliances. Bonus room can be a walk-in pantry or office space—sweet for today’s lifestyle. A laundry room with washer and dryer included adds extra convenience. Enjoy the outdoors on an oversized deep lot with a privacy fence, offering plenty of room for entertaining, gardening, or relaxation. Additional updates include a new roof, beautiful esthetics and thoughtful storage solutions throughout and more. This move-in ready home combines quality finishes, functional spaces, and timeless style—a true must see! LEASE PURCHASE OPTIONS AVAILABLE!

13. 2026-03-11
    price $229,500 986-char remark

    Show marketing remark (986 chars)

    Step into this stunning renovation featuring 3 bedrooms and 2 full baths, including a spacious primary en suite with a custom walk-in closet. Designed for both comfort and style, this home boasts vinyl waterproof plank flooring, recessed lighting, and an open floor plan nice for modern living, comfort and entertaining. The gourmet kitchen is equipped with marble countertops, an abundance of cabinets, stainless steel appliances. Bonus room can be a walk-in pantry or office space—sweet for today’s lifestyle. A laundry room with washer and dryer included adds extra convenience. Enjoy the outdoors on an oversized deep lot with a privacy fence, offering plenty of room for entertaining, gardening, or relaxation. Additional updates include a new roof, beautiful esthetics and thoughtful storage solutions throughout and more. This move-in ready home combines quality finishes, functional spaces, and timeless style—a true must see! LEASE PURCHASE OPTIONS AVAILABLE!

14. 2025-10-08
    price $239,900 970-char remark

    Show marketing remark (986 chars)

    Step into this stunning renovation featuring 3 bedrooms and 2 full baths, including a spacious primary en suite with a custom walk-in closet. Designed for both comfort and style, this home boasts vinyl waterproof plank flooring, recessed lighting, and an open floor plan nice for modern living, comfort and entertaining. The gourmet kitchen is equipped with marble countertops, an abundance of cabinets, stainless steel appliances. Bonus room can be a walk-in pantry or office space—sweet for today’s lifestyle. A laundry room with washer and dryer included adds extra convenience. Enjoy the outdoors on an oversized deep lot with a privacy fence, offering plenty of room for entertaining, gardening, or relaxation. Additional updates include a new roof, beautiful esthetics and thoughtful storage solutions throughout and more. This move-in ready home combines quality finishes, functional spaces, and timeless style—a true must see! LEASE PURCHASE OPTIONS AVAILABLE!

15. 2025-10-08
    price $239,900 986-char remark

    Show marketing remark (986 chars)

    Step into this stunning renovation featuring 3 bedrooms and 2 full baths, including a spacious primary en suite with a custom walk-in closet. Designed for both comfort and style, this home boasts vinyl waterproof plank flooring, recessed lighting, and an open floor plan nice for modern living, comfort and entertaining. The gourmet kitchen is equipped with marble countertops, an abundance of cabinets, stainless steel appliances. Bonus room can be a walk-in pantry or office space—sweet for today’s lifestyle. A laundry room with washer and dryer included adds extra convenience. Enjoy the outdoors on an oversized deep lot with a privacy fence, offering plenty of room for entertaining, gardening, or relaxation. Additional updates include a new roof, beautiful esthetics and thoughtful storage solutions throughout and more. This move-in ready home combines quality finishes, functional spaces, and timeless style—a true must see! LEASE PURCHASE OPTIONS AVAILABLE!

16. 2025-09-03
    listed $249,000 Active 970-char remark

    Show marketing remark (986 chars)

    Step into this stunning renovation featuring 3 bedrooms and 2 full baths, including a spacious primary en suite with a custom walk-in closet. Designed for both comfort and style, this home boasts vinyl waterproof plank flooring, recessed lighting, and an open floor plan nice for modern living, comfort and entertaining. The gourmet kitchen is equipped with marble countertops, an abundance of cabinets, stainless steel appliances. Bonus room can be a walk-in pantry or office space—sweet for today’s lifestyle. A laundry room with washer and dryer included adds extra convenience. Enjoy the outdoors on an oversized deep lot with a privacy fence, offering plenty of room for entertaining, gardening, or relaxation. Additional updates include a new roof, beautiful esthetics and thoughtful storage solutions throughout and more. This move-in ready home combines quality finishes, functional spaces, and timeless style—a true must see! LEASE PURCHASE OPTIONS AVAILABLE!

17. 2025-09-03
    listed $249,000 Active 986-char remark

    Show marketing remark (986 chars)

    Step into this stunning renovation featuring 3 bedrooms and 2 full baths, including a spacious primary en suite with a custom walk-in closet. Designed for both comfort and style, this home boasts vinyl waterproof plank flooring, recessed lighting, and an open floor plan nice for modern living, comfort and entertaining. The gourmet kitchen is equipped with marble countertops, an abundance of cabinets, stainless steel appliances. Bonus room can be a walk-in pantry or office space—sweet for today’s lifestyle. A laundry room with washer and dryer included adds extra convenience. Enjoy the outdoors on an oversized deep lot with a privacy fence, offering plenty of room for entertaining, gardening, or relaxation. Additional updates include a new roof, beautiful esthetics and thoughtful storage solutions throughout and more. This move-in ready home combines quality finishes, functional spaces, and timeless style—a true must see! LEASE PURCHASE OPTIONS AVAILABLE!

18. 2025-09-03
    listed $249,000 Active

    Show marketing remark (986 chars)

    Step into this stunning renovation featuring 3 bedrooms and 2 full baths, including a spacious primary en suite with a custom walk-in closet. Designed for both comfort and style, this home boasts vinyl waterproof plank flooring, recessed lighting, and an open floor plan nice for modern living, comfort and entertaining. The gourmet kitchen is equipped with marble countertops, an abundance of cabinets, stainless steel appliances. Bonus room can be a walk-in pantry or office space—sweet for today’s lifestyle. A laundry room with washer and dryer included adds extra convenience. Enjoy the outdoors on an oversized deep lot with a privacy fence, offering plenty of room for entertaining, gardening, or relaxation. Additional updates include a new roof, beautiful esthetics and thoughtful storage solutions throughout and more. This move-in ready home combines quality finishes, functional spaces, and timeless style—a true must see! LEASE PURCHASE OPTIONS AVAILABLE!

19. 2019-07-15
    soldstatus $38,175 Closed
20. 2019-05-07
    status Pending
21. 2019-05-05
    status Active
22. 2019-04-26
    status Pending
23. 2019-04-13
    status Active
24. 2019-04-04
    status Pending
25. 2019-03-25
    listed $44,900
26. 2019-03-25
    listed $44,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $28,879
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,942
• − Repairs & maintenance: −$2,310
• − Management: −$2,310
• − Depreciation: −$6,662
• Taxable loss: −$608
• Est. tax savings @ 24.0%: +$146
• After-tax cash flow: $3,172/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

+411.1% since first listed

15 events — show timeline

• 2026-03-11 Price Changed $229,500 AcadianaMLS
• 2026-03-11 Price Changed $229,500 GSREIN
• 2025-10-08 Price Changed $239,900 AcadianaMLS
• 2025-10-08 Price Changed $239,900 GSREIN
• 2025-09-03 Listed $249,000 AcadianaMLS
• 2025-09-03 Listed $249,000 GSREIN
• 2025-09-03 Listed $249,000 AcadianaMLS
• 2019-07-15 Sold (MLS) $38,175 GSREIN
• 2019-05-07 Pending — GSREIN
• 2019-05-05 Relisted — GSREIN
• 2019-04-26 Pending — GSREIN
• 2019-04-13 Relisted — GSREIN
• 2019-04-04 Pending — GSREIN
• 2019-03-25 Listed $44,900 GSREIN
• 2019-03-25 Listed $44,900 AcadianaMLS

Property tax history

+5.2%/yr

Latest (2026): $371 · +1.1% YoY. Source: county tax records.