3159 Blair St · New Orleans, LA 70131

$109,900

3 bd · 1.5 ba · 1,903 sqft · SingleFamily public records · 145 Days on market

Built 1989 6,098 sqft lot $58/sqft · 39% below area Est $180k · 39% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Rent growth +0.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Renovators delight in this well-established River Park Subdivision off General Meyer Ave and by the Algiers/Chalmette Ferry. This house features 4 bedrooms 2.5 baths with approximately 1903 living area and 2222 sq ft under roof. The carport is open and drive through for rear yard access. Large oak trees offer shaded area for those family gatherings. The house features living room, access to the breakfast/dining and kitchen area. Walk through the sliding glass doors to a large den with access to master bedroom and full bath. You have 3 more bedrooms with one having 1/2 bath. It needs your personal touches, don't hesitate and call for your appointment to view this diamond in the rough and make it your home.

Key facts

• Large den
• Sliding glass doors
• Large oak trees

Tags

• DRIVE THROUGH CARPORT
• LARGE OAK TREES
• SLIDING GLASS DOORS
• LARGE DEN
• MASTER BEDROOM ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $784 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.6% 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 falling (-9.2%/yr); 274 active listings in the ZIP; 18 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 39% of the median local income ($62k/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 $760 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 $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $110k implies a 120% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.86% ✓
• Cap rate: 15.58%
• Cash-on-cash: 33.16%
• DSCR: 2.48
• GRM: 4.5

CMA / ARV

• ARV (median comp): $179,900
• List price: $109,900
• Delta: -38.91%
• 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
2954 Blair St	0.12mi	4/2.0 (+1)	1,970 (+4%)	12mo	$220,000	$112	72
3200 Lancaster St	0.13mi	3/2.0	1,678 (-12%)	5mo	$179,900	$107	68
3035 Sullen Pl Pl	0.33mi	3/2.0	1,688 (-11%)	2mo	$175,000	$104	62
106 Larchmont Pl	0.50mi	3/2.0	2,048 (+8%)	2mo	$205,000	$100	60
6133 Carlisle Ct	0.73mi	4/2.0 (+1)	1,883 (-1%)	2mo	$185,000	$98	56
6201 Oxford Pl	0.46mi	4/2.0 (+1)	2,048 (+8%)	7mo	$191,000	$93	53
104 Kingston Ct	0.73mi	3/2.0	1,752 (-8%)	5mo	$285,000	$163	46
212 Fairfax Pl	0.62mi	3/2.0	1,635 (-14%)	0mo	$225,000	$138	46
6628 Peony St	0.53mi	4/2.0 (+1)	1,700 (-11%)	7mo	$194,500	$114	45
205 Fairfax Pl	0.69mi	3/2.0	1,764 (-7%)	12mo	$300,000	$170	44
6426 Peony St	0.57mi	3/2.0	1,656 (-13%)	10mo	$180,000	$109	42
5936 Brighton Pl	0.69mi	4/3.0 (+1)	2,141 (+12%)	7mo	$269,000	$126	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 1.85×
• Total profit: $26,202
• Equity at exit: $16,386

10-year hold

• IRR: 27.6%
• Equity multiple: 3.09×
• Total profit: $64,277
• Equity at exit: $9,502

Cash invested: $30,772 (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 70131

• Home prices YoY: -12.0%
• Rents YoY: -9.2%
• Active inventory: 274
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,041 high
• Mortgage (P&I): −$576
• Tax from tax record: −$140 /mo · $1,679/yr
• Insurance: −$46
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $784

Break-even live

Break-even rent $1,049

Max offer price $109,900

Occupancy floor 57%

Sensitivity live

Price	-10% $846	-5% $815	+0% $784	+5% $753	+10% $722
Rent	-10% $623	-5% $703	+0% $784	+5% $864	+10% $945
Rate	-1.0pp $839	-0.5pp $812	base $784	+0.5pp $755	+1.0pp $726

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3200 Lancaster St New Orleans, LA	4.0	2.0	1678	$2,200	$1.31	25d	1	0.10mi
3619 Pittari Pl New Orleans, LA	4.0	2.0	2000	$2,200	$1.10	25d	1	0.28mi
3531 Adrian St New Orleans, LA	3.0	2.0	1292	$1,895	$1.47	17d	1	0.30mi
6021 Brighton Pl New Orleans, LA	4.0	3.0	1840	$3,100	$1.68	17d	1	0.66mi
4020 Sullen Pl New Orleans, LA	4.0	2.5	1280	$1,400	$1.09	4d	1	0.66mi
6121 Stratford Pl New Orleans, LA	3.0	2.0	1225	$1,800	$1.47	17d	1	0.78mi
6015 Carlisle Ct New Orleans, LA	3.0	2.0	2300	$1,800	$0.78	17d	1	0.82mi
4254 Maple Leaf Dr New Orleans, LA	1.0–3.0	1.0–2.5	1354	$1,687	$1.25	3d	8	0.88mi
5801 Albany Ct New Orleans, LA	4.0	2.5	2160	$2,000	$0.93	25d	1	0.99mi
3429 Bryson St New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	25d	1	1.01mi
2741 Chelsea Dr New Orleans, LA	4.0	2.5	2382	$2,500	$1.05	17d	1	1.09mi
4479 Woodland Dr Unit A New Orleans, LA	2.0	2.5	1300	$1,500	$1.15	25d	1	1.28mi
3151 Plymouth Pl New Orleans, LA	3.0	1.0	1470	$1,700	$1.16	25d	1	1.29mi
5823 Tullis Dr New Orleans, LA	3.0	1.5	1637	$1,600	$0.98	25d	1	1.35mi
5797 Tullis Dr New Orleans, LA	3.0	1.5	1240	$1,600	$1.29	25d	1	1.37mi
3738 Somerset Dr New Orleans, LA	4.0	2.0	2247	$3,000	$1.34	15d	1	1.39mi
5000 Woodland Dr New Orleans, LA	2.0	1.0–2.5	943	$1,457	$1.55	25d	1	1.42mi
3751 Herald St New Orleans, LA	4.0	2.0	1624	$2,150	$1.32	25d	1	1.45mi

Listing history 9 events

1. 2026-06-01
   days on market $109,900 Active 145 DOM
2. 2026-05-31
   days on market $109,900 Active 144 DOM
3. 2026-04-01
   price $119,900 714-char remark

   Show marketing remark (714 chars)

   Renovators delight in this well-established River Park Subdivision off General Meyer Ave and by the Algiers/Chalmette Ferry. This house features 4 bedrooms 2.5 baths with approximately 1903 living area and 2222 sq ft under roof. The carport is open and drive through for rear yard access. Large oak trees offer shaded area for those family gatherings. The house features living room, access to the breakfast/dining and kitchen area. Walk through the sliding glass doors to a large den with access to master bedroom and full bath. You have 3 more bedrooms with one having 1/2 bath. It needs your personal touches, don't hesitate and call for your appointment to view this diamond in the rough and make it your home.

4. 2026-04-01
   price $119,900 714-char remark

   Show marketing remark (714 chars)

   Renovators delight in this well-established River Park Subdivision off General Meyer Ave and by the Algiers/Chalmette Ferry. This house features 4 bedrooms 2.5 baths with approximately 1903 living area and 2222 sq ft under roof. The carport is open and drive through for rear yard access. Large oak trees offer shaded area for those family gatherings. The house features living room, access to the breakfast/dining and kitchen area. Walk through the sliding glass doors to a large den with access to master bedroom and full bath. You have 3 more bedrooms with one having 1/2 bath. It needs your personal touches, don't hesitate and call for your appointment to view this diamond in the rough and make it your home.

5. 2026-02-18
   price $129,900 714-char remark

   Show marketing remark (714 chars)

   Renovators delight in this well-established River Park Subdivision off General Meyer Ave and by the Algiers/Chalmette Ferry. This house features 4 bedrooms 2.5 baths with approximately 1903 living area and 2222 sq ft under roof. The carport is open and drive through for rear yard access. Large oak trees offer shaded area for those family gatherings. The house features living room, access to the breakfast/dining and kitchen area. Walk through the sliding glass doors to a large den with access to master bedroom and full bath. You have 3 more bedrooms with one having 1/2 bath. It needs your personal touches, don't hesitate and call for your appointment to view this diamond in the rough and make it your home.

6. 2026-02-18
   price $129,900 714-char remark

   Show marketing remark (714 chars)

   Renovators delight in this well-established River Park Subdivision off General Meyer Ave and by the Algiers/Chalmette Ferry. This house features 4 bedrooms 2.5 baths with approximately 1903 living area and 2222 sq ft under roof. The carport is open and drive through for rear yard access. Large oak trees offer shaded area for those family gatherings. The house features living room, access to the breakfast/dining and kitchen area. Walk through the sliding glass doors to a large den with access to master bedroom and full bath. You have 3 more bedrooms with one having 1/2 bath. It needs your personal touches, don't hesitate and call for your appointment to view this diamond in the rough and make it your home.

7. 2026-01-07
   listed $134,900 Active 714-char remark

   Show marketing remark (714 chars)

   Renovators delight in this well-established River Park Subdivision off General Meyer Ave and by the Algiers/Chalmette Ferry. This house features 4 bedrooms 2.5 baths with approximately 1903 living area and 2222 sq ft under roof. The carport is open and drive through for rear yard access. Large oak trees offer shaded area for those family gatherings. The house features living room, access to the breakfast/dining and kitchen area. Walk through the sliding glass doors to a large den with access to master bedroom and full bath. You have 3 more bedrooms with one having 1/2 bath. It needs your personal touches, don't hesitate and call for your appointment to view this diamond in the rough and make it your home.

8. 2026-01-07
   listed $134,900 Active 714-char remark

   Show marketing remark (714 chars)

   Renovators delight in this well-established River Park Subdivision off General Meyer Ave and by the Algiers/Chalmette Ferry. This house features 4 bedrooms 2.5 baths with approximately 1903 living area and 2222 sq ft under roof. The carport is open and drive through for rear yard access. Large oak trees offer shaded area for those family gatherings. The house features living room, access to the breakfast/dining and kitchen area. Walk through the sliding glass doors to a large den with access to master bedroom and full bath. You have 3 more bedrooms with one having 1/2 bath. It needs your personal touches, don't hesitate and call for your appointment to view this diamond in the rough and make it your home.

9. 1989-10-09
   soldstatus $50,000

ⓘ 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: $1,679 · $140/mo
• Projected year-2 tax: $1,679 · $140/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 · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 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: $24,490
• − Mortgage interest: −$6,156
• − Property taxes: −$1,679
• − Insurance: −$1,347
• − Repairs & maintenance: −$1,959
• − Management: −$1,959
• − Depreciation: −$3,197
• Taxable income: $8,192
• Est. tax owed @ 24.0%: −$1,966
• After-tax cash flow: $7,439/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): 25,151
• Household income: $62,389
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 707.0

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 62% White 20% Hispanic / Latino 11% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Dominican 2%
• Common ancestry: Lithuanian 4% Hispanic 1%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 9% Vietnamese 2% 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: ▼ -28.08%
• Current HPI: 206.7552
• Rent YoY: ▼ -9.23%
• 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

+139.8% since first listed

7 events — show timeline

• 2026-04-01 Price Changed $119,900 AcadianaMLS
• 2026-04-01 Price Changed $119,900 GSREIN
• 2026-02-18 Price Changed $129,900 AcadianaMLS
• 2026-02-18 Price Changed $129,900 GSREIN
• 2026-01-07 Listed $134,900 GSREIN
• 2026-01-07 Listed $134,900 AcadianaMLS
• 1989-10-09 Sold (Public Records) $50,000 Public Records

Property tax history

+8.9%/yr

Latest (2026): $1,679 · +98.6% YoY. Source: county tax records.