3827 Mimosa Dr · New Orleans, LA 70131

$260,000

4 bd · 2.0 ba · 2,468 sqft · SingleFamily public records · 103 Days on market

Built 1971 7,008 sqft lot $105/sqft · 27% below area Est $322k · 19% under $15/mo HOA · 1% of rent

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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 +14.0/30.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• 1% rule +3.6/10.0
• 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

Beautiful centrally located ranch style home, with a great layout and plenty of closet space. Formal living and dining room, 4 bedrooms with 2 full baths, second living area with a wood burning fireplace, nice size laundry room, covered screened in patio, detached garage and lovely back yard space. X500 Flood zone Call 504-201-4426 for showing appointment.

Key facts

• Back yard space
• Ranch style home
• Detached garage

Tags

• RANCH STYLE HOME
• WOOD BURNING FIREPLACE
• COVERED SCREENED IN PATIO
• DETACHED GARAGE
• BACK YARD SPACE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-35 ($-417/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (13.9% below list).
• Recommended offer: $224k (13.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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.
• Zoned schools: Benjamin Franklin Elem. Math And Science (math 12% / reading 23%, grade F, #479 of 646 statewide, top 75%, 747 students, 98% FRL, charter) — zoned schools average 98% FRL vs 68% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents falling (-9.2%/yr); 275 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 43% 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 $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 103 days — a 9% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 32y ago; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $223,861 (13.9% 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 103 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 0.86% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.52%
• DSCR: 1.02
• GRM: 9.7

CMA / ARV

• ARV (median comp): $321,849
• List price: $260,000
• Delta: -19.22%
• 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
3548 Silver Maple Ct	0.20mi	4/2.5	2,443 (-1%)	5mo	$318,000	$130	83
3915 Mimosa Dr	0.08mi	4/2.5	2,512 (+2%)	12mo	$239,500	$95	81
3576 Mimosa Ct	0.17mi	4/2.5	2,628 (+6%)	3mo	$270,000	$103	77
3858 S Inwood Ave	0.28mi	4/3.0	2,615 (+6%)	1mo	$265,500	$102	72
3701 Red Cypress Dr	0.26mi	4/2.5	2,692 (+9%)	4mo	$339,000	$126	68
3501 Silver Maple Ct	0.17mi	4/2.5	2,800 (+14%)	6mo	$416,000	$149	63
4450 Lennox Blvd	0.70mi	4/2.5	2,516 (+2%)	2mo	$385,000	$153	60
5942 Warwick Ct	0.64mi	3/2.0 (-1)	2,420 (-2%)	4mo	$219,000	$90	59
3500 Pin Oak Ave	0.42mi	3/3.5 (-1)	2,656 (+8%)	1mo	$318,000	$120	56
5335 Timber Haven Ln	0.34mi	3/2.0 (-1)	2,150 (-13%)	8mo	$265,000	$123	51
4811 Lennox Blvd	0.66mi	4/2.0	2,166 (-12%)	3mo	$325,000	$150	46
4480 Lennox Blvd	0.68mi	3/2.5 (-1)	2,747 (+11%)	9mo	$345,000	$126	34

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: -20.7%
• Equity multiple: 0.30×
• Total profit: $-50,865
• Equity at exit: $38,767

10-year hold

• IRR: -22.7%
• Equity multiple: 0.01×
• Total profit: $-72,341
• Equity at exit: $22,480

Cash invested: $72,800 (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: 275
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,239 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$250 /mo · $3,000/yr
• Insurance: −$108
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$15
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $-35

Break-even live

Break-even rent $2,283

Max offer price $253,866

Occupancy floor 97%

Sensitivity live

Price	-10% $112	-5% $39	+0% $-35	+5% $-108	+10% $-182
Rent	-10% $-212	-5% $-123	+0% $-35	+5% $54	+10% $142
Rate	-1.0pp $96	-0.5pp $31	base $-35	+0.5pp $-102	+1.0pp $-171

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5823 Tullis Dr New Orleans, LA	3.0	1.5	1637	$1,600	$0.98	25d	1	0.27mi
3653 Timber Bluff Ln New Orleans, LA	4.0	2.0	1800	$2,500	$1.39	45d	1	0.41mi
4254 Maple Leaf Dr New Orleans, LA	1.0–3.0	1.0–2.5	1354	$1,687	$1.25	3d	8	0.62mi
6015 Carlisle Ct New Orleans, LA	3.0	2.0	2300	$1,800	$0.78	17d	1	0.72mi
3738 Somerset Dr New Orleans, LA	4.0	2.0	2247	$3,000	$1.34	16d	1	0.77mi
3751 Herald St New Orleans, LA	4.0	2.0	1624	$2,150	$1.32	25d	1	0.87mi
3511 Hyman Pl New Orleans, LA	3.0	2.0	1975	$2,700	$1.37	3d	1	1.15mi
2337 Park Place Dr Gretna, LA	3.0	2.5	1800	$1,650	$0.92	45d	1	1.17mi
2434 Ashland Pl N Gretna, LA	4.0	2.5	2300	$4,500	$1.96	45d	1	1.26mi
841 Fairfax Dr Gretna, LA	4.0	2.5	2600	$2,250	$0.87	16d	1	1.29mi
3619 Pittari Pl New Orleans, LA	4.0	2.0	2000	$2,200	$1.10	25d	1	1.30mi
500 Behrman Hwy Gretna, LA	3.0	1.5	1600	$1,750	$1.09	6d	1	1.30mi
502 Behrman Hwy Gretna, LA	4.0	2.0	1600	$1,750	$1.09	6d	1	1.31mi
316 F Edward Hebert Blvd Belle Chasse, LA	5.0	3.0	2076	$5,500	$2.65	3d	1	1.36mi
6021 Brighton Pl New Orleans, LA	4.0	3.0	1840	$3,100	$1.68	17d	1	1.37mi
2741 Chelsea Dr New Orleans, LA	4.0	2.5	2382	$2,500	$1.05	17d	1	1.49mi

HOA detail

• Monthly dues: $15 · $180/yr

Listing history 37 events

1. 2026-06-21
   days on market $260,000 Active 103 DOM
2. 2026-06-18
   days on market $260,000 Active 100 DOM
3. 2026-06-17
   days on market $260,000 Active 99 DOM
4. 2026-06-16
   days on market $260,000 Active 98 DOM
5. 2026-06-15
   days on market $260,000 Active 97 DOM
6. 2026-06-13
   days on market $260,000 Active 95 DOM
7. 2026-06-10
   days on market $260,000 Active 92 DOM
8. 2026-06-09
   days on market $260,000 Active 91 DOM
9. 2026-06-08
   days on market $260,000 Active 90 DOM
10. 2026-06-07
    days on market $260,000 Active 89 DOM
11. 2026-06-05
    days on market $260,000 Active 86 DOM
12. 2026-06-03
    days on market $260,000 Active 85 DOM
13. 2026-06-02
    days on market $260,000 Active 84 DOM
14. 2026-06-01
    days on market $260,000 Active 83 DOM
15. 2026-05-31
    days on market $260,000 Active 82 DOM
16. 2026-05-02
    price $265,000 358-char remark

    Show marketing remark (358 chars)

    Beautiful centrally located ranch style home, with a great layout and plenty of closet space. Formal living and dining room, 4 bedrooms with 2 full baths, second living area with a wood burning fireplace, nice size laundry room, covered screened in patio, detached garage and lovely back yard space. X500 Flood zone Call 504-201-4426 for showing appointment.

17. 2026-05-02
    price $265,000 358-char remark

    Show marketing remark (358 chars)

    Beautiful centrally located ranch style home, with a great layout and plenty of closet space. Formal living and dining room, 4 bedrooms with 2 full baths, second living area with a wood burning fireplace, nice size laundry room, covered screened in patio, detached garage and lovely back yard space. X500 Flood zone Call 504-201-4426 for showing appointment.

18. 2026-05-01
    status Active 358-char remark

    Show marketing remark (358 chars)

    Beautiful centrally located ranch style home, with a great layout and plenty of closet space. Formal living and dining room, 4 bedrooms with 2 full baths, second living area with a wood burning fireplace, nice size laundry room, covered screened in patio, detached garage and lovely back yard space. X500 Flood zone Call 504-201-4426 for showing appointment.

19. 2026-05-01
    status Active 358-char remark

    Show marketing remark (358 chars)

    Beautiful centrally located ranch style home, with a great layout and plenty of closet space. Formal living and dining room, 4 bedrooms with 2 full baths, second living area with a wood burning fireplace, nice size laundry room, covered screened in patio, detached garage and lovely back yard space. X500 Flood zone Call 504-201-4426 for showing appointment.

20. 2026-04-22
    historical Active Under Contract 358-char remark

    Show marketing remark (358 chars)

    Beautiful centrally located ranch style home, with a great layout and plenty of closet space. Formal living and dining room, 4 bedrooms with 2 full baths, second living area with a wood burning fireplace, nice size laundry room, covered screened in patio, detached garage and lovely back yard space. X500 Flood zone Call 504-201-4426 for showing appointment.

21. 2026-04-17
    status Pending 358-char remark

    Show marketing remark (358 chars)

    Beautiful centrally located ranch style home, with a great layout and plenty of closet space. Formal living and dining room, 4 bedrooms with 2 full baths, second living area with a wood burning fireplace, nice size laundry room, covered screened in patio, detached garage and lovely back yard space. X500 Flood zone Call 504-201-4426 for showing appointment.

22. 2026-04-14
    status Pending 358-char remark

    Show marketing remark (358 chars)

    Beautiful centrally located ranch style home, with a great layout and plenty of closet space. Formal living and dining room, 4 bedrooms with 2 full baths, second living area with a wood burning fireplace, nice size laundry room, covered screened in patio, detached garage and lovely back yard space. X500 Flood zone Call 504-201-4426 for showing appointment.

23. 2026-04-14
    historical Active Under Contract 358-char remark

    Show marketing remark (358 chars)

    Beautiful centrally located ranch style home, with a great layout and plenty of closet space. Formal living and dining room, 4 bedrooms with 2 full baths, second living area with a wood burning fireplace, nice size laundry room, covered screened in patio, detached garage and lovely back yard space. X500 Flood zone Call 504-201-4426 for showing appointment.

24. 2026-03-23
    status Active 358-char remark

    Show marketing remark (358 chars)

    Beautiful centrally located ranch style home, with a great layout and plenty of closet space. Formal living and dining room, 4 bedrooms with 2 full baths, second living area with a wood burning fireplace, nice size laundry room, covered screened in patio, detached garage and lovely back yard space. X500 Flood zone Call 504-201-4426 for showing appointment.

25. 2026-03-23
    status Active 358-char remark

    Show marketing remark (358 chars)

    Beautiful centrally located ranch style home, with a great layout and plenty of closet space. Formal living and dining room, 4 bedrooms with 2 full baths, second living area with a wood burning fireplace, nice size laundry room, covered screened in patio, detached garage and lovely back yard space. X500 Flood zone Call 504-201-4426 for showing appointment.

26. 2026-03-18
    status Pending 358-char remark

    Show marketing remark (358 chars)

    Beautiful centrally located ranch style home, with a great layout and plenty of closet space. Formal living and dining room, 4 bedrooms with 2 full baths, second living area with a wood burning fireplace, nice size laundry room, covered screened in patio, detached garage and lovely back yard space. X500 Flood zone Call 504-201-4426 for showing appointment.

27. 2026-03-18
    historical Active Under Contract 358-char remark

    Show marketing remark (358 chars)

    Beautiful centrally located ranch style home, with a great layout and plenty of closet space. Formal living and dining room, 4 bedrooms with 2 full baths, second living area with a wood burning fireplace, nice size laundry room, covered screened in patio, detached garage and lovely back yard space. X500 Flood zone Call 504-201-4426 for showing appointment.

28. 2026-03-04
    listed $250,000 Active 358-char remark

    Show marketing remark (358 chars)

    Beautiful centrally located ranch style home, with a great layout and plenty of closet space. Formal living and dining room, 4 bedrooms with 2 full baths, second living area with a wood burning fireplace, nice size laundry room, covered screened in patio, detached garage and lovely back yard space. X500 Flood zone Call 504-201-4426 for showing appointment.

29. 2026-03-04
    listed $250,000 Active 358-char remark

    Show marketing remark (358 chars)

    Beautiful centrally located ranch style home, with a great layout and plenty of closet space. Formal living and dining room, 4 bedrooms with 2 full baths, second living area with a wood burning fireplace, nice size laundry room, covered screened in patio, detached garage and lovely back yard space. X500 Flood zone Call 504-201-4426 for showing appointment.

30. 2022-12-12
    soldstatus $228,000 Closed
31. 2022-11-14
    status Pending
32. 2022-11-12
    listed $235,000 Active
33. 2022-11-12
    listed $235,000
34. 1994-08-02
    soldstatus $120,000
35. 1994-08-01
    soldstatus $120,000
36. 1994-06-01
    listed $123,000
37. 1994-06-01
    listed $123,000

ⓘ 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: $3,000 · $250/mo
• Projected year-2 tax: $3,000 · $250/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 (shaded) · 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: $26,863
• − Mortgage interest: −$14,564
• − Property taxes: −$3,000
• − Insurance: −$2,098
• − Repairs & maintenance: −$2,149
• − Management: −$2,149
• − HOA: −$180
• − Depreciation: −$7,564
• Taxable loss: −$4,840
• Est. tax savings @ 24.0%: +$1,161
• After-tax cash flow: $745/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

+115.4% since first listed

22 events — show timeline

• 2026-05-02 Price Changed $265,000 AcadianaMLS
• 2026-05-02 Price Changed $265,000 GSREIN
• 2026-05-01 Relisted — AcadianaMLS
• 2026-05-01 Relisted — GSREIN
• 2026-04-22 Contingent — GSREIN
• 2026-04-17 Pending — GSREIN
• 2026-04-14 Pending — AcadianaMLS
• 2026-04-14 Contingent — GSREIN
• 2026-03-23 Relisted — AcadianaMLS
• 2026-03-23 Relisted — GSREIN
• 2026-03-18 Pending — AcadianaMLS
• 2026-03-18 Contingent — GSREIN
• 2026-03-04 Listed $250,000 GSREIN
• 2026-03-04 Listed $250,000 AcadianaMLS
• 2022-12-12 Sold (MLS) $228,000 GSREIN
• 2022-11-14 Pending — GSREIN
• 2022-11-12 Listed $235,000 AcadianaMLS
• 2022-11-12 Listed $235,000 GSREIN
• 1994-08-02 Sold (Public Records) $120,000 Public Records
• 1994-08-01 Sold (MLS) $120,000 GSREIN
• 1994-06-01 Listed $123,000 AcadianaMLS
• 1994-06-01 Listed $123,000 GSREIN

Property tax history

+3.2%/yr

Latest (2026): $3,000 · +8.3% YoY. Source: county tax records.