304 Leboeuf St · New Orleans, LA 70114

$199,900

3 bd · 1.0 ba · 1,680 sqft · SingleFamily public records · 14 Days on market

Built 1950 0.26 ac lot Est $375k · 47% under

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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 +23.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +5.7/10.0
• 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

Opportunity knocking! This spacious raised frame home has a roof that's 2 years old. It also has a covered porch and detached garage and storage. Formal living room and dining connect to the spacious kitchen. Down the hall you'll find the primary bedroom and private full bath plus 2 additional bedrooms and another full bath. There is an roomy indoor laundry and the side hall is big enough for a home office or other space. The best attribute though is the gorgeous 1/4 acre corner lot! You could build 3 of the newer style houses for all the space this lot offers. Located just a couple of blocks from the river and it has several new construction neighbors. You might decide to renovate this well loved home into a more traditional New Orleans style. All possibilities are on the table because this location supports much higher values. There is a wonderfully eclectic restaurant and bar scene just minutes away. Close to Historic Algiers Point, the ferry, the beautiful courthouse and so much history. This could be a beautiful home or a couple of them.

Key facts

• Covered porch
• New construction
• Indoor laundry

Tags

• COVERED PORCH
• DETACHED GARAGE
• INDOOR LAUNDRY
• CORNER LOT
• NEW CONSTRUCTION

Property features AI

Exterior

• Parking: Detached garage with three or more parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story home; Shingle roof; Raised foundation; Average condition
• Exterior features: Corner lot; City lot; Rectangular lot; Shed(s)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Accessibility features

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 8.5% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $2,144/mo this rent would consume 59% 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 $1k of loan paydown is wiped out by about $6k 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 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 23y 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 $24k; list at $200k implies a 733% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $199,900

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.07% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.82%
• DSCR: 1.35
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $374,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
415 Vallette St	0.48mi	3/2.0	1,700 (+1%)	2mo	$379,000	$223	70
519 Leboeuf St	0.18mi	3/2.0	1,871 (+11%)	7mo	$59,000	$32	63
724 Gallier St	0.71mi	3/2.0	1,688 (+0%)	2mo	$280,000	$166	61
629 Lesseps St	0.71mi	3/2.0	1,676 (-0%)	7mo	$227,000	$135	56
626 Independence St	0.63mi	2/2.0 (-1)	1,696 (+1%)	10mo	$477,000	$281	52
422 Red Allen Way	0.70mi	3/2.0	1,800 (+7%)	1mo	$440,000	$244	51
935 Belleville St	0.65mi	3/2.0	1,847 (+10%)	2mo	$370,000	$200	48
820 Eliza St	0.38mi	3/3.0	1,900 (+13%)	9mo	$359,000	$189	45
714 Bartholomew St	0.69mi	2/2.0 (-1)	1,494 (-11%)	5mo	$425,000	$284	36
431 Red Allen Way	0.71mi	3/2.0	1,466 (-13%)	9mo	$349,900	$239	34
926 Verret St	0.69mi	3/2.0	1,431 (-15%)	6mo	$230,000	$161	34
717 Nunez St	0.68mi	2/2.0 (-1)	1,453 (-14%)	6mo	$350,000	$241	32

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: -9.9%
• Equity multiple: 0.65×
• Total profit: $-19,623
• Equity at exit: $29,806

10-year hold

• IRR: -5.3%
• Equity multiple: 0.70×
• Total profit: $-16,720
• Equity at exit: $17,284

Cash invested: $55,972 (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: 7.8×

Monthly cashflow live

• Estimated rent: $2,144 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$197 /mo · $2,363/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $298

Break-even live

Break-even rent $1,766

Max offer price $199,900

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
335 Whitney Ave New Orleans, LA	2.0	1.0	1100	$1,575	$1.43	24d	1	0.07mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	24d	1	0.33mi
543 Atlantic Ave New Orleans, LA	2.0	2.5	1430	$2,200	$1.54	24d	1	0.33mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	24d	1	0.34mi
325 Elmira Ave Unit 325 New Orleans, LA	3.0	1.5	1050	$1,525	$1.45	24d	1	0.37mi
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	3d	1	0.41mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	3d	1	0.42mi
249 Vallette St New Orleans, LA	4.0	2.0	1734	$2,500	$1.44	16d	1	0.49mi
119 Vallette St New Orleans, LA	3.0	2.5	1500	$2,100	$1.40	24d	1	0.50mi
729 Elmira Ave New Orleans, LA	4.0	2.0	2000	$2,000	$1.00	16d	1	0.52mi
3431 Chartres St #6 New Orleans, LA	2.0	2.5	1262	$2,750	$2.18	15d	1	0.61mi
3900 Royal St Unit 2A New Orleans, LA	2.0	2.0	1300	$3,000	$2.31	3d	1	0.63mi
3903 Royal St Unit 3903 New Orleans, LA	2.0	1.0	1205	$1,300	$1.08	15d	1	0.64mi
1108 Sumner St New Orleans, LA	3.0	1.5	1197	$1,500	$1.25	12d	1	0.68mi
625 Louisa St New Orleans, LA	2.0	1.0	1162	$2,400	$2.07	24d	1	0.68mi
311 Delaronde St New Orleans, LA	2.0	1.0	1120	$1,740	$1.55	24d	1	0.70mi
740 Mazant St New Orleans, LA	2.0	2.0	1750	$2,200	$1.26	24d	1	0.71mi
323 Morgan St Unit G New Orleans, LA	2.0	2.5	1700	$2,500	$1.47	44d	1	0.73mi
323 Morgan St Apt E New Orleans, LA	2.0	2.5	2000	$3,600	$1.80	44d	1	0.73mi
323 Morgan St Unit C New Orleans, LA	2.0	2.0	2000	$3,200	$1.60	44d	1	0.73mi
323 Morgan St New Orleans, LA	2.0	2.5	2000	$3,600	$1.80	17d	1	0.73mi
433 Homer St Unit 1 New Orleans, LA	4.0	2.0	1570	$1,850	$1.18	24d	1	0.77mi
522 Montegut St New Orleans, LA	1.0–2.0	1.0–2.0	1256	$3,500	$2.79	2d	12	0.77mi
507 Newton St New Orleans, LA	2.0	2.0	1150	$1,400	$1.22	24d	1	0.79mi
3421 Burgundy St New Orleans, LA	2.0	2.0	1120	$3,000	$2.68	24d	1	0.80mi
606 Drum St New Orleans, LA	3.0	2.0	1131	$2,350	$2.08	24d	1	0.81mi
500 Powder St Unit B New Orleans, LA	2.0	1.0	1085	$1,600	$1.47	24d	1	0.82mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	24d	1	0.85mi
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	16d	1	0.89mi
1402 Behrman Ave New Orleans, LA	2.0	1.0	1673	$1,500	$0.90	24d	1	0.89mi
718 Majestic Pl New Orleans, LA	3.0	2.0	1164	$1,785	$1.53	21d	1	0.90mi
924 Kentucky St New Orleans, LA	2.0	1.0	1102	$1,700	$1.54	3d	1	0.90mi
1140 Teche St Apt B New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	24d	1	0.92mi
882 Montegut St New Orleans, LA	1.0–3.0	1.0–2.0	826	$2,575	$3.12	44d	7	0.94mi
2617 Chartres St New Orleans, LA	2.0	1.5	1059	$2,100	$1.98	24d	1	0.97mi
1119 Bartholomew St Unit 1119 New Orleans, LA	2.0	2.0	1410	$2,500	$1.77	44d	1	0.97mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	24d	1	1.00mi
1034 Montegut St Unit 1034 New Orleans, LA	2.0	2.0	1415	$3,400	$2.40	44d	1	1.06mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	24d	1	1.06mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	44d	1	1.06mi

Listing history 11 events

1. 2026-06-18
   days on market $199,900 Active 14 DOM
2. 2026-06-17
   days on market $199,900 Active 13 DOM
3. 2026-06-16
   days on market $199,900 Active 12 DOM
4. 2026-06-15
   days on market $199,900 Active 11 DOM
5. 2026-06-13
   days on market $199,900 Active 9 DOM
6. 2026-06-10
   days on market $199,900 Active 6 DOM
7. 2026-06-09
   days on market $199,900 Active 5 DOM
8. 2026-06-08
   days on market $199,900 Active 4 DOM
9. 2026-06-07
   days on market $199,900 Active 3 DOM
10. 2026-06-05
    remarks 699-char remark
11. 2026-06-05
    listed $199,900 Active 1 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: $2,363 · $197/mo
• Projected year-2 tax: $2,363 · $197/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 7/10 Severe FEMA zone X · 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: $25,723
• − Mortgage interest: −$11,198
• − Property taxes: −$2,363
• − Insurance: −$1,797
• − Repairs & maintenance: −$2,058
• − Management: −$2,058
• − Depreciation: −$5,815
• Taxable income: $435
• Est. tax owed @ 24.0%: −$104
• After-tax cash flow: $3,478/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

+328.4% since first listed

6 events — show timeline

• 2026-06-04 Listed $199,900 AcadianaMLS
• 2026-06-04 Listed $199,900 GSREIN
• 2003-02-14 Sold (MLS) $24,000 GSREIN
• 2003-01-17 Listed $24,900 AcadianaMLS
• 2003-01-17 Listed $24,900 GSREIN
• 1987-10-02 Sold (Public Records) $46,659 Public Records

Property tax history

+4.6%/yr

Latest (2026): $2,363 · +0.0% YoY. Source: county tax records.