2744 Somerset Dr · New Orleans, LA 70131

$135,000

4 bd · 2.0 ba · 2,623 sqft · SingleFamily public records · 53 Days on market

Built 1958 $51/sqft · 54% below area ↓ 4% since listing

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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
• Schools +1.6/10.0
• Rent growth +0.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special in a Quiet, Sought-After Neighborhood! Don't miss this rare opportunity to own a spacious 5-bedroom, 2-bath home in a quiet, highly desirable neighborhood known for its charm and long-term value. Situated on a large lot with beautiful trees, this home offers generous living space and a flexible layout great for full renovation or custom redesign. This property features a architectural shingle roof that was installed in 2024 with transferable warranty, a termite contract, is located in an X flood zone, and has never flooded--providing major peace of mind and added value for the next owner. The home appraised well above the current list price in September 2025, and a structural report with repair estimates is attached, with the list price already reflecting the cost of those repairs. With strong resale potential and endless possibilities, this is an ideal opportunity for investors or buyers looking to create their dream home. Don't miss your chance to transform this hidden gem into something truly special!

Key facts

• Termite contract
• Never flooded
• Large lot

Tags

• LARGE LOT
• ARCHITECTURAL SHINGLE ROOF
• TRANSFERABLE WARRANTY
• TERMITE CONTRACT
• NEVER FLOODED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $843 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 45% 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 $933 of loan paydown is wiped out by about $4k 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 $38k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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: flood insurance adds $66/mo; built in 1958 — 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 $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — 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. 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: 1.73% ✓
• Cap rate: 14.37%
• Cash-on-cash: 28.86%
• DSCR: 2.28
• GRM: 4.8

CMA / ARV

• ARV (median comp): $298,306
• List price: $135,000
• Delta: -54.74%
• 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
2744 Somerset Dr	0.00mi	5/2.0 (+1)	2,678 (+2%)	0mo	$120,000	$45	91
2534 Danbury Dr	0.23mi	4/2.5	2,743 (+5%)	1mo	$310,000	$113	78
12 Seaward Ct	0.44mi	4/3.5	2,653 (+1%)	1mo	$415,000	$156	70
3030 Hudson Pl	0.22mi	3/2.0 (-1)	2,412 (-8%)	2mo	$150,000	$62	69
2644 Ramsey Dr	0.09mi	5/2.5 (+1)	2,418 (-8%)	8mo	$286,000	$118	69
2529 Hudson Pl	0.22mi	4/2.5	2,232 (-15%)	0mo	$240,000	$108	63
5401 Wimbledon Ct	0.36mi	4/2.5	2,290 (-13%)	1mo	$259,000	$113	59
22 Seaward Ct	0.50mi	4/2.5	2,375 (-10%)	1mo	$480,000	$202	59
5721 Abbey Dr	0.36mi	4/2.5	2,288 (-13%)	6mo	$315,000	$138	56
5858 Rhodes Ave	0.49mi	4/3.0	2,388 (-9%)	6mo	$241,000	$101	54
6130 Shetland Dr	0.49mi	4/2.0	2,235 (-15%)	1mo	$325,000	$145	52
2709 Comet St	0.60mi	3/3.0 (-1)	2,310 (-12%)	3mo	$249,500	$108	40

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: 17.1%
• Equity multiple: 1.66×
• Total profit: $25,027
• Equity at exit: $20,129

10-year hold

• IRR: 23.3%
• Equity multiple: 2.71×
• Total profit: $64,792
• Equity at exit: $11,672

Cash invested: $37,800 (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 70131

• Home prices YoY: -12.0%
• Rents YoY: -9.2%
• Active inventory: 274
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,332 high
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $843

Break-even live

Break-even rent $1,265

Max offer price $135,000

Occupancy floor 59%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2741 Chelsea Dr New Orleans, LA	4.0	2.5	2382	$2,500	$1.05	16d	1	0.25mi
5801 Albany Ct New Orleans, LA	4.0	2.5	2160	$2,000	$0.93	23d	1	0.40mi
1410 Kabel Dr New Orleans, LA	3.0	2.0	2200	$2,200	$1.00	23d	1	0.51mi
3511 Hyman Pl New Orleans, LA	3.0	2.0	1975	$2,700	$1.37	1d	1	0.62mi
6021 Brighton Pl New Orleans, LA	4.0	3.0	1840	$3,100	$1.68	16d	1	0.65mi
3738 Somerset Dr New Orleans, LA	4.0	2.0	2247	$3,000	$1.34	14d	1	0.75mi
103 Danny Dr New Orleans, LA	4.0	2.0	2040	$2,400	$1.18	23d	1	0.77mi
2001 Saint Nick Dr New Orleans, LA	4.0	2.5	2400	$2,300	$0.96	23d	1	0.82mi
6015 Carlisle Ct New Orleans, LA	3.0	2.0	2300	$1,800	$0.78	16d	1	1.01mi
4254 Maple Leaf Dr New Orleans, LA	1.0–3.0	1.0–2.5	1354	$1,687	$1.25	1d	8	1.20mi
21 Carriage Ln New Orleans, LA	3.0	2.5	1900	$2,000	$1.05	21d	1	1.34mi
3619 Pittari Pl New Orleans, LA	4.0	2.0	2000	$2,200	$1.10	23d	1	1.40mi

Listing history 10 events

1. 2026-05-12
   status Pending 1036-char remark

   Show marketing remark (1053 chars)

   Investor Special in a Quiet, Sought-After Neighborhood! Don’t miss this rare opportunity to own a spacious 5-bedroom, 2-bath home in a quiet, highly desirable neighborhood known for its charm and long-term value. Situated on a large lot with beautiful trees, this home offers generous living space and a flexible layout great for full renovation or custom redesign. This property features a architectural shingle roof that was installed in 2024 with transferable warranty, a termite contract, is located in an X flood zone, and has never flooded—providing major peace of mind and added value for the next owner. The home appraised well above the current list price in September 2025, and a structural report with repair estimates is attached, with the list price already reflecting the cost of those repairs. With strong resale potential and endless possibilities, this is an ideal opportunity for investors or buyers looking to create their dream home. Don’t miss your chance to transform this hidden gem into something truly special!

2. 2026-05-12
   status Pending 1053-char remark

   Show marketing remark (1053 chars)

   Investor Special in a Quiet, Sought-After Neighborhood! Don’t miss this rare opportunity to own a spacious 5-bedroom, 2-bath home in a quiet, highly desirable neighborhood known for its charm and long-term value. Situated on a large lot with beautiful trees, this home offers generous living space and a flexible layout great for full renovation or custom redesign. This property features a architectural shingle roof that was installed in 2024 with transferable warranty, a termite contract, is located in an X flood zone, and has never flooded—providing major peace of mind and added value for the next owner. The home appraised well above the current list price in September 2025, and a structural report with repair estimates is attached, with the list price already reflecting the cost of those repairs. With strong resale potential and endless possibilities, this is an ideal opportunity for investors or buyers looking to create their dream home. Don’t miss your chance to transform this hidden gem into something truly special!

3. 2026-04-23
   price $135,000 1036-char remark

   Show marketing remark (1053 chars)

   Investor Special in a Quiet, Sought-After Neighborhood! Don’t miss this rare opportunity to own a spacious 5-bedroom, 2-bath home in a quiet, highly desirable neighborhood known for its charm and long-term value. Situated on a large lot with beautiful trees, this home offers generous living space and a flexible layout great for full renovation or custom redesign. This property features a architectural shingle roof that was installed in 2024 with transferable warranty, a termite contract, is located in an X flood zone, and has never flooded—providing major peace of mind and added value for the next owner. The home appraised well above the current list price in September 2025, and a structural report with repair estimates is attached, with the list price already reflecting the cost of those repairs. With strong resale potential and endless possibilities, this is an ideal opportunity for investors or buyers looking to create their dream home. Don’t miss your chance to transform this hidden gem into something truly special!

4. 2026-04-23
   price $135,000 1053-char remark

   Show marketing remark (1053 chars)

   Investor Special in a Quiet, Sought-After Neighborhood! Don’t miss this rare opportunity to own a spacious 5-bedroom, 2-bath home in a quiet, highly desirable neighborhood known for its charm and long-term value. Situated on a large lot with beautiful trees, this home offers generous living space and a flexible layout great for full renovation or custom redesign. This property features a architectural shingle roof that was installed in 2024 with transferable warranty, a termite contract, is located in an X flood zone, and has never flooded—providing major peace of mind and added value for the next owner. The home appraised well above the current list price in September 2025, and a structural report with repair estimates is attached, with the list price already reflecting the cost of those repairs. With strong resale potential and endless possibilities, this is an ideal opportunity for investors or buyers looking to create their dream home. Don’t miss your chance to transform this hidden gem into something truly special!

5. 2026-04-17
   status Active 1036-char remark

   Show marketing remark (1053 chars)

   Investor Special in a Quiet, Sought-After Neighborhood! Don’t miss this rare opportunity to own a spacious 5-bedroom, 2-bath home in a quiet, highly desirable neighborhood known for its charm and long-term value. Situated on a large lot with beautiful trees, this home offers generous living space and a flexible layout great for full renovation or custom redesign. This property features a architectural shingle roof that was installed in 2024 with transferable warranty, a termite contract, is located in an X flood zone, and has never flooded—providing major peace of mind and added value for the next owner. The home appraised well above the current list price in September 2025, and a structural report with repair estimates is attached, with the list price already reflecting the cost of those repairs. With strong resale potential and endless possibilities, this is an ideal opportunity for investors or buyers looking to create their dream home. Don’t miss your chance to transform this hidden gem into something truly special!

6. 2026-04-17
   status Active 1053-char remark

   Show marketing remark (1053 chars)

   Investor Special in a Quiet, Sought-After Neighborhood! Don’t miss this rare opportunity to own a spacious 5-bedroom, 2-bath home in a quiet, highly desirable neighborhood known for its charm and long-term value. Situated on a large lot with beautiful trees, this home offers generous living space and a flexible layout great for full renovation or custom redesign. This property features a architectural shingle roof that was installed in 2024 with transferable warranty, a termite contract, is located in an X flood zone, and has never flooded—providing major peace of mind and added value for the next owner. The home appraised well above the current list price in September 2025, and a structural report with repair estimates is attached, with the list price already reflecting the cost of those repairs. With strong resale potential and endless possibilities, this is an ideal opportunity for investors or buyers looking to create their dream home. Don’t miss your chance to transform this hidden gem into something truly special!

7. 2026-04-13
   status Pending 1036-char remark

   Show marketing remark (1053 chars)

   Investor Special in a Quiet, Sought-After Neighborhood! Don’t miss this rare opportunity to own a spacious 5-bedroom, 2-bath home in a quiet, highly desirable neighborhood known for its charm and long-term value. Situated on a large lot with beautiful trees, this home offers generous living space and a flexible layout great for full renovation or custom redesign. This property features a architectural shingle roof that was installed in 2024 with transferable warranty, a termite contract, is located in an X flood zone, and has never flooded—providing major peace of mind and added value for the next owner. The home appraised well above the current list price in September 2025, and a structural report with repair estimates is attached, with the list price already reflecting the cost of those repairs. With strong resale potential and endless possibilities, this is an ideal opportunity for investors or buyers looking to create their dream home. Don’t miss your chance to transform this hidden gem into something truly special!

8. 2026-04-13
   historical Active Under Contract 1053-char remark

   Show marketing remark (1053 chars)

   Investor Special in a Quiet, Sought-After Neighborhood! Don’t miss this rare opportunity to own a spacious 5-bedroom, 2-bath home in a quiet, highly desirable neighborhood known for its charm and long-term value. Situated on a large lot with beautiful trees, this home offers generous living space and a flexible layout great for full renovation or custom redesign. This property features a architectural shingle roof that was installed in 2024 with transferable warranty, a termite contract, is located in an X flood zone, and has never flooded—providing major peace of mind and added value for the next owner. The home appraised well above the current list price in September 2025, and a structural report with repair estimates is attached, with the list price already reflecting the cost of those repairs. With strong resale potential and endless possibilities, this is an ideal opportunity for investors or buyers looking to create their dream home. Don’t miss your chance to transform this hidden gem into something truly special!

9. 2026-03-20
   listed $140,000 Active 1036-char remark

   Show marketing remark (1053 chars)

   Investor Special in a Quiet, Sought-After Neighborhood! Don’t miss this rare opportunity to own a spacious 5-bedroom, 2-bath home in a quiet, highly desirable neighborhood known for its charm and long-term value. Situated on a large lot with beautiful trees, this home offers generous living space and a flexible layout great for full renovation or custom redesign. This property features a architectural shingle roof that was installed in 2024 with transferable warranty, a termite contract, is located in an X flood zone, and has never flooded—providing major peace of mind and added value for the next owner. The home appraised well above the current list price in September 2025, and a structural report with repair estimates is attached, with the list price already reflecting the cost of those repairs. With strong resale potential and endless possibilities, this is an ideal opportunity for investors or buyers looking to create their dream home. Don’t miss your chance to transform this hidden gem into something truly special!

10. 2026-03-20
    listed $140,000 Active 1053-char remark

    Show marketing remark (1053 chars)

    Investor Special in a Quiet, Sought-After Neighborhood! Don’t miss this rare opportunity to own a spacious 5-bedroom, 2-bath home in a quiet, highly desirable neighborhood known for its charm and long-term value. Situated on a large lot with beautiful trees, this home offers generous living space and a flexible layout great for full renovation or custom redesign. This property features a architectural shingle roof that was installed in 2024 with transferable warranty, a termite contract, is located in an X flood zone, and has never flooded—providing major peace of mind and added value for the next owner. The home appraised well above the current list price in September 2025, and a structural report with repair estimates is attached, with the list price already reflecting the cost of those repairs. With strong resale potential and endless possibilities, this is an ideal opportunity for investors or buyers looking to create their dream home. Don’t miss your chance to transform this hidden gem into something truly special!

ⓘ 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 · 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,979
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$1,472
• − Repairs & maintenance: −$2,238
• − Management: −$2,238
• − Depreciation: −$3,927
• Taxable income: $8,515
• Est. tax owed @ 24.0%: −$2,044
• After-tax cash flow: $8,067/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

-3.6% since first listed

10 events — show timeline

• 2026-05-12 Pending — AcadianaMLS
• 2026-05-12 Pending — GSREIN
• 2026-04-23 Price Changed $135,000 AcadianaMLS
• 2026-04-23 Price Changed $135,000 GSREIN
• 2026-04-17 Relisted — AcadianaMLS
• 2026-04-17 Relisted — GSREIN
• 2026-04-13 Pending — AcadianaMLS
• 2026-04-13 Contingent — GSREIN
• 2026-03-20 Listed $140,000 GSREIN
• 2026-03-20 Listed $140,000 AcadianaMLS

Property tax history

-0.4%/yr

Latest (2026): $229 · +0.0% YoY. Source: county tax records.