20801 Old Spanish Trl · New Orleans, LA 70129

$179,000

3 bd · 2.0 ba · 2,758 sqft · SingleFamily public records · 152 Days on market

Built 1978 $65/sqft · 48% below area

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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
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attractive brick home with circular driveway. Located on navigable water way with leading out to lake. Downstairs bedrooms and bath with large den and 2 extra rooms on bottom level. Upper level has large living room and dining area. Updated kitchen. Square footage not guaranteed. Property to be sold "As Is".

Key facts

• Large den
• Navigable water way
• Updated kitchen

Tags

• CIRCULAR DRIVEWAY
• NAVIGABLE WATER WAY
• LARGE DEN
• UPDATED KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $708 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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: 139 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 30y ago; this cycle's ask has dropped $64k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 152 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 13.90%
• Cash-on-cash: 27.17%
• DSCR: 2.21
• GRM: 4.8

CMA / ARV

• ARV (median comp): $359,374
• List price: $179,000
• Delta: -50.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4421 Trieste St	0.62mi	4/3.5 (+1)	2,785 (+1%)	2mo	$215,000	$77	57
4250 Murano Rd	0.42mi	3/3.0	2,400 (-13%)	2mo	$370,000	$154	53
4220 Murano Rd	0.41mi	4/3.5 (+1)	2,984 (+8%)	16mo	$298,000	$100	43
4500 Murano Rd	0.42mi	4/2.0 (+1)	2,450 (-11%)	23mo	$245,000	$100	38
4601 Murano Rd	0.44mi	3/2.5	3,149 (+14%)	21mo	$395,000	$125	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.33×
• Total profit: $16,455
• Equity at exit: $26,689

10-year hold

• IRR: 17.7%
• Equity multiple: 2.47×
• Total profit: $73,856
• Equity at exit: $15,477

Cash invested: $50,120 (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 70129

• Active inventory: 139
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,100 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$301 /mo · $3,612/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$651
• Net cashflow: $708

Break-even live

Break-even rent $2,204

Max offer price $179,000

Occupancy floor 72%

Sensitivity live

Price	-10% $810	-5% $759	+0% $708	+5% $658	+10% $607
Rent	-10% $463	-5% $586	+0% $708	+5% $831	+10% $953
Rate	-1.0pp $798	-0.5pp $754	base $708	+0.5pp $662	+1.0pp $615

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4327 Genoa Rd New Orleans, LA	4.0	3.0	2915	$3,100	$1.06	3d	1	0.46mi

Listing history 37 events

1. 2026-06-21
   days on market $179,000 Active 152 DOM
2. 2026-06-18
   days on market $179,000 Active 149 DOM
3. 2026-06-17
   days on market $179,000 Active 148 DOM
4. 2026-06-16
   days on market $179,000 Active 147 DOM
5. 2026-06-15
   days on market $179,000 Active 146 DOM
6. 2026-06-13
   days on market $179,000 Active 144 DOM
7. 2026-06-10
   days on market $179,000 Active 141 DOM
8. 2026-06-09
   days on market $179,000 Active 140 DOM
9. 2026-06-08
   days on market $179,000 Active 139 DOM
10. 2026-06-07
    days on market $179,000 Active 138 DOM
11. 2026-06-05
    pricedays on market $179,000 Active 135 DOM
12. 2026-06-03
    days on market $189,000 Active 134 DOM
13. 2026-06-02
    days on market $189,000 Active 133 DOM
14. 2026-06-01
    days on market $189,000 Active 132 DOM
15. 2026-05-31
    days on market $189,000 Active 131 DOM
16. 2026-04-25
    price $199,000 319-char remark

    Show marketing remark (328 chars)

    Attractive brick home with circular driveway. Located on navigable water way with leading out to lake. Downstàirs bedrooms and bath with large den and 2 extra rooms on bottom level. Upper level has large living room and dining area. Updated kitchen. Square footage not guaranteed. Property to be sold “As Is”.

17. 2026-04-25
    price $199,000 328-char remark

    Show marketing remark (328 chars)

    Attractive brick home with circular driveway. Located on navigable water way with leading out to lake. Downstàirs bedrooms and bath with large den and 2 extra rooms on bottom level. Upper level has large living room and dining area. Updated kitchen. Square footage not guaranteed. Property to be sold “As Is”.

18. 2026-03-25
    price $219,500 319-char remark

    Show marketing remark (328 chars)

    Attractive brick home with circular driveway. Located on navigable water way with leading out to lake. Downstàirs bedrooms and bath with large den and 2 extra rooms on bottom level. Upper level has large living room and dining area. Updated kitchen. Square footage not guaranteed. Property to be sold “As Is”.

19. 2026-03-25
    price $219,500 328-char remark

    Show marketing remark (328 chars)

    Attractive brick home with circular driveway. Located on navigable water way with leading out to lake. Downstàirs bedrooms and bath with large den and 2 extra rooms on bottom level. Upper level has large living room and dining area. Updated kitchen. Square footage not guaranteed. Property to be sold “As Is”.

20. 2026-03-02
    price $229,500 319-char remark

    Show marketing remark (328 chars)

    Attractive brick home with circular driveway. Located on navigable water way with leading out to lake. Downstàirs bedrooms and bath with large den and 2 extra rooms on bottom level. Upper level has large living room and dining area. Updated kitchen. Square footage not guaranteed. Property to be sold “As Is”.

21. 2026-03-02
    price $229,500 328-char remark

    Show marketing remark (328 chars)

    Attractive brick home with circular driveway. Located on navigable water way with leading out to lake. Downstàirs bedrooms and bath with large den and 2 extra rooms on bottom level. Upper level has large living room and dining area. Updated kitchen. Square footage not guaranteed. Property to be sold “As Is”.

22. 2026-01-15
    listed $242,500 Active 319-char remark

    Show marketing remark (328 chars)

    Attractive brick home with circular driveway. Located on navigable water way with leading out to lake. Downstàirs bedrooms and bath with large den and 2 extra rooms on bottom level. Upper level has large living room and dining area. Updated kitchen. Square footage not guaranteed. Property to be sold “As Is”.

23. 2026-01-15
    listed $242,500 Active 328-char remark

    Show marketing remark (328 chars)

    Attractive brick home with circular driveway. Located on navigable water way with leading out to lake. Downstàirs bedrooms and bath with large den and 2 extra rooms on bottom level. Upper level has large living room and dining area. Updated kitchen. Square footage not guaranteed. Property to be sold “As Is”.

24. 2019-02-13
    soldstatus $222,000
25. 2019-02-11
    soldstatus $222,000 Closed
26. 2018-12-17
    status Pending
27. 2018-11-15
    status Under Contract
28. 2018-10-19
    listed $220,000
29. 2018-10-19
    listed $220,000 Active
30. 2018-10-12
    historical
31. 2018-08-07
    price $240,000
32. 2016-10-11
    listed $265,000 Active
33. 2016-10-11
    listed $240,000
34. 1997-04-21
    soldstatus $165,000
35. 1997-04-21
    soldstatus $165,000
36. 1996-12-04
    listed $175,000
37. 1996-12-04
    listed $175,000

ⓘ 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: $3,612 · $301/mo
• Projected year-2 tax: $3,612 · $301/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,200
• − Mortgage interest: −$10,027
• − Property taxes: −$3,612
• − Insurance: −$6,014
• − Repairs & maintenance: −$2,976
• − Management: −$2,976
• − Depreciation: −$5,207
• Taxable income: $6,388
• Est. tax owed @ 24.0%: −$1,533
• After-tax cash flow: $6,965/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
• City population: 338,817
• Population (ZIP): 10,219

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 0.65)
• Race & ethnicity: Black 49% Asian 29% Hispanic / Latino 12% White 8% Two or more races 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 32% · Vietnam, Canada, Jamaica
• Languages at home: 63% English-only · Vietnamese 29% Spanish 8%

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: ▼ -80.58%
• Current HPI: 116.8578
• Rent YoY: —
• Metro: —
• 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

+13.7% since first listed

22 events — show timeline

• 2026-04-25 Price Changed $199,000 AcadianaMLS
• 2026-04-25 Price Changed $199,000 GSREIN
• 2026-03-25 Price Changed $219,500 AcadianaMLS
• 2026-03-25 Price Changed $219,500 GSREIN
• 2026-03-02 Price Changed $229,500 AcadianaMLS
• 2026-03-02 Price Changed $229,500 GSREIN
• 2026-01-15 Listed $242,500 GSREIN
• 2026-01-15 Listed $242,500 AcadianaMLS
• 2019-02-13 Sold (Public Records) $222,000 Public Records
• 2019-02-11 Sold (MLS) $222,000 GSREIN
• 2018-12-17 Pending — GSREIN
• 2018-11-15 Pending — GSREIN
• 2018-10-19 Listed $220,000 GSREIN
• 2018-10-19 Listed $220,000 AcadianaMLS
• 2018-10-12 Listing Removed — GSREIN
• 2018-08-07 Price Changed $240,000 GSREIN
• 2016-10-11 Listed $265,000 GSREIN
• 2016-10-11 Listed $240,000 AcadianaMLS
• 1997-04-21 Sold (Public Records) $165,000 Public Records
• 1997-04-21 Sold (MLS) $165,000 GSREIN
• 1996-12-04 Listed $175,000 AcadianaMLS
• 1996-12-04 Listed $175,000 GSREIN

Property tax history

-0.1%/yr

Latest (2026): $3,612 · +1.1% YoY. Source: county tax records.