1901 Independence St · New Orleans, LA 70117

$157,500

3 bd · 1.0 ba · 1,299 sqft · SingleFamily public records · 22 Days on market

Built 1961 2,944 sqft lot Est $223k · 30% 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 +24.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +5.6/10.0
• 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

Opportunity Knocks! This 3-bedroom, 1-bath home sits on a desirable corner lot and offers approximately 1,250 sq ft of living space plus a versatile flex room perfect for an office, playroom, guest space, or extra storage. With solid bones and endless potential, this property is ideal for investors, renovators, or buyers ready to bring their vision to life. A little TLC will go a long way in transforming this home into something special. Don't miss the chance to make it your own!

Key facts

• 2,944 sq ft lot
• Built 1961
• Listed 22 days

Property features AI

Finance

• Other: Information not provided
• Financial info: Information not provided
• HOA & community: Information not provided

Exterior

• Parking: Information not provided
• Security: Information not provided
• Utilities: Public water; Public sewer
• Home design: Single-story home; Raised foundation; Shingle roof
• Construction: Information not provided
• Exterior features: City lot; Rectangular lot; Lot dimensions approximately 31 x 95

Interior

• Kitchen: Information not provided
• Bedrooms: Information not provided
• Flooring: Information not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit heating; Window unit cooling
• Interior features: 6 total rooms; Average condition
• Laundry & utility: Information not provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $158k.

Deal economics

• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $158k).
• Recommended offer: $155k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 44% of the median local income ($46k/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 $1k of loan paydown is wiped out by about $5k 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 22 days — a 2% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 31y 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 $25k; list at $158k implies a 533% 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 $155,137 (1.5% below list)

Questions for the listing agent

1. Built in 1961 — 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: 1.06% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.62%
• DSCR: 1.38
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $223,428
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1639 Independence St	0.16mi	3/2.0	1,340 (+3%)	7mo	$220,000	$164	77
4006 N Miro St	0.27mi	3/2.0	1,272 (-2%)	4mo	$179,900	$141	77
1621 Congress St	0.20mi	3/2.0	1,237 (-5%)	4mo	$190,000	$154	75
1933 France St	0.29mi	3/2.0	1,358 (+4%)	9mo	$45,000	$33	68
3130 N Tonti St	0.44mi	3/2.0	1,252 (-4%)	5mo	$235,000	$188	66
1231 Gallier St	0.48mi	2/1.0 (-1)	1,236 (-5%)	4mo	$212,000	$172	61
1431 Clouet St	0.50mi	3/2.0	1,404 (+8%)	1mo	$307,000	$219	59
1131 Bartholomew St	0.56mi	2/2.0 (-1)	1,248 (-4%)	1mo	$253,000	$203	58
1437 Gallier St	0.33mi	3/2.0	1,451 (+12%)	9mo	$65,000	$45	53
3120 Urquhart St	0.58mi	3/1.0	1,134 (-13%)	1mo	$90,000	$79	51
3028 Marais St	0.70mi	3/1.5	1,391 (+7%)	9mo	$328,000	$236	46
1027 Louisa St	0.69mi	2/2.0 (-1)	1,460 (+12%)	1mo	$450,000	$308	38

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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.76×
• Total profit: $-10,420
• Equity at exit: $23,484

10-year hold

• IRR: 2.6%
• Equity multiple: 1.18×
• Total profit: $8,044
• Equity at exit: $13,618

Cash invested: $44,100 (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: $1,662 high
• Mortgage (P&I): −$826
• Tax from tax record: −$105 /mo · $1,259/yr
• Insurance: −$66
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $250

Break-even live

Break-even rent $1,345

Max offer price $157,500

Occupancy floor 80%

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: $39,375
• Closing costs: $4,725
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1715 Gallier St Unit B New Orleans, LA	2.0	1.0	1000	$1,099	$1.10	23d	1	0.16mi
1713 Gallier St Unit B New Orleans, LA	2.0	1.0	1000	$1,099	$1.10	23d	1	0.17mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	23d	1	0.17mi
1634 Bartholomew St New Orleans, LA	2.0	1.0	900	$1,300	$1.44	23d	1	0.18mi
1628 Bartholomew St New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	23d	1	0.19mi
1904 Desire St New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	10d	1	0.21mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	23d	1	0.25mi
1822 Piety St New Orleans, LA	3.0	1.5	1200	$1,500	$1.25	15d	1	0.28mi
4222 N Johnson St New Orleans, LA	3.0	2.0	1100	$1,895	$1.72	23d	1	0.28mi
1942 Piety St New Orleans, LA	3.0	1.0	1100	$1,500	$1.36	23d	1	0.29mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	2d	1	0.29mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	3d	1	0.29mi
4217 N Johnson St New Orleans, LA	3.0	2.0	904	$1,650	$1.83	23d	1	0.29mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	3d	1	0.30mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	15d	1	0.30mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	21d	1	0.31mi
5624-5626 Saint Claude ST New Orleans, LA	4.0	3.0	1521	$2,300	$1.51	23d	1	0.34mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	23d	1	0.36mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	2d	1	0.38mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	0.38mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	0.39mi
3125 Industrial Ct New Orleans, LA	2.0	2.5	1100	$1,450	$1.32	23d	1	0.39mi
3915 N Rocheblave St New Orleans, LA	2.0	2.0	1005	$1,700	$1.69	23d	1	0.41mi
3915 N Rocheblave St New Orleans, LA	2.0	2.0	1005	$1,700	$1.69	15d	1	0.41mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	23d	1	0.42mi
4318 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	3d	1	0.44mi
4318 1/2 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	2d	1	0.45mi
1319 France St New Orleans, LA	2.0	1.0	923	$975	$1.06	21d	1	0.46mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	11d	1	0.46mi
2027 Feliciana St New Orleans, LA	2.0	1.0	1104	$1,100	$1.00	15d	1	0.48mi
1211 Gallier St New Orleans, LA	2.0	1.0	900	$1,000	$1.11	23d	1	0.50mi
2423 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	11d	1	0.52mi
2421 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	11d	1	0.52mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	23d	1	0.52mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	23d	1	0.53mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	15d	1	0.53mi
1119 Bartholomew St Unit 1119 New Orleans, LA	2.0	2.0	1410	$2,500	$1.77	43d	1	0.54mi
2509 Piety St New Orleans, LA	2.0	2.0	1056	$1,450	$1.37	23d	1	0.54mi
1121 Bartholomew St Unit 1121 New Orleans, LA	2.0	1.0	893	$2,000	$2.24	23d	1	0.54mi
4021 St Claude Ave New Orleans, LA	4.0	2.0	1016	$1,275	$1.25	3d	1	0.56mi

Listing history 27 events

1. 2026-06-18
   days on market $157,500 Active 22 DOM
2. 2026-06-17
   days on market $157,500 Active 21 DOM
3. 2026-06-16
   days on market $157,500 Active 20 DOM
4. 2026-06-15
   days on market $157,500 Active 19 DOM
5. 2026-06-13
   days on market $157,500 Active 17 DOM
6. 2026-06-10
   days on market $157,500 Active 14 DOM
7. 2026-06-09
   days on market $157,500 Active 13 DOM
8. 2026-06-08
   days on market $157,500 Active 12 DOM
9. 2026-06-07
   days on market $157,500 Active 11 DOM
10. 2026-06-05
    days on market $157,500 Active 8 DOM
11. 2026-06-03
    days on market $157,500 Active 7 DOM
12. 2026-06-02
    days on market $157,500 Active 6 DOM
13. 2026-06-01
    days on market $157,500 Active 5 DOM
14. 2026-05-31
    days on market $157,500 Active 4 DOM
15. 2026-05-22
    listed $157,500 Active 484-char remark

    Show marketing remark (484 chars)

    Opportunity Knocks! This 3-bedroom, 1-bath home sits on a desirable corner lot and offers approximately 1,250 sq ft of living space plus a versatile flex room perfect for an office, playroom, guest space, or extra storage. With solid bones and endless potential, this property is ideal for investors, renovators, or buyers ready to bring their vision to life. A little TLC will go a long way in transforming this home into something special. Don't miss the chance to make it your own!

16. 2026-05-22
    listed $157,500 Active

    Show marketing remark (484 chars)

    Opportunity Knocks! This 3-bedroom, 1-bath home sits on a desirable corner lot and offers approximately 1,250 sq ft of living space plus a versatile flex room perfect for an office, playroom, guest space, or extra storage. With solid bones and endless potential, this property is ideal for investors, renovators, or buyers ready to bring their vision to life. A little TLC will go a long way in transforming this home into something special. Don't miss the chance to make it your own!

17. 2012-03-09
    soldstatus $24,900
18. 2012-01-26
    soldstatus $66,667
19. 2011-12-09
    listed $24,900
20. 2011-12-09
    listed $24,900
21. 2011-04-04
    listed $54,300
22. 2011-04-04
    listed $54,300
23. 1995-07-27
    soldstatus $21,900
24. 1995-07-18
    soldstatus $21,900
25. 1995-06-15
    listed $21,900
26. 1995-06-15
    listed $21,900
27. 1985-08-21
    soldstatus $40,000

ⓘ 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: $1,259 · $105/mo
• Projected year-2 tax: $1,259 · $105/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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,947
• − Mortgage interest: −$8,822
• − Property taxes: −$1,259
• − Insurance: −$1,585
• − Repairs & maintenance: −$1,596
• − Management: −$1,596
• − Depreciation: −$4,582
• Taxable income: $508
• Est. tax owed @ 24.0%: −$122
• After-tax cash flow: $2,882/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

+293.8% since first listed

13 events — show timeline

• 2026-05-22 Listed $157,500 GSREIN
• 2026-05-22 Listed $157,500 AcadianaMLS
• 2012-03-09 Sold (MLS) $24,900 GSREIN
• 2012-01-26 Sold (Public Records) $66,667 Public Records
• 2011-12-09 Listed $24,900 AcadianaMLS
• 2011-12-09 Listed $24,900 GSREIN
• 2011-04-04 Listed $54,300 GSREIN
• 2011-04-04 Listed $54,300 AcadianaMLS
• 1995-07-27 Sold (MLS) $21,900 GSREIN
• 1995-07-18 Sold (Public Records) $21,900 Public Records
• 1995-06-15 Listed $21,900 GSREIN
• 1995-06-15 Listed $21,900 AcadianaMLS
• 1985-08-21 Sold (Public Records) $40,000 Public Records

Property tax history

+5.1%/yr

Latest (2026): $1,259 · +1.1% YoY. Source: county tax records.