39 Maryland Dr · New Orleans, LA 70124

$375,000

4 bd · 3.5 ba · 2,103 sqft · SingleFamily public records · 36 Days on market

Built 1956 5,218 sqft lot $178/sqft · 40% below area Est $628k · 40% under $42/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 +13.1/30.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Make this large lot in a highly sought-after neighborhood yours! This is your chance to build your dream home on this great lot. The value is in the land. Home is being sold as a tear down.

Key facts

• 5,218 sq ft lot
• 2 parking spots
• Built 1956

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $500

Exterior

• Parking: Off-street parking for two vehicles
• Utilities: Public water; Public sewer
• Home design: Two-story home; Shingle roof; Wood siding exterior; Slab foundation
• Construction: Built with wood siding; Shingle roof; Slab foundation
• Exterior features: City lot with rectangular shape; Lot dimensions approximately 50 x 87

Interior

• Bathrooms: Three full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Gas fireplace; Total of 10 rooms; Property reported in poor condition

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath single-family listed at $375k.

Deal economics

• At list price, monthly cash flow is $-77 ($-921/yr) — negative.
• To cash-flow at today's rent, offer at most $361k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $344k (8.2% below list).
• Recommended offer: $344k (8.2% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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 (-0.4%/yr); 220 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• This rent runs 34% of the median local income ($121k/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 $3k of loan paydown is wiped out by about $11k 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 36 days — a 3% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y 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 $300k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1956 — 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 $344,066 (8.2% 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 36 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
3. Built in 1956 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.92% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.12%
• DSCR: 0.99
• GRM: 9.1

CMA / ARV

• ARV (median comp): $628,292
• List price: $375,000
• Delta: -40.31%
• 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
60 Maryland Dr	0.05mi	3/2.0 (-1)	2,100 (-0%)	9mo	$605,000	$288	78
107 Stella St	0.26mi	4/3.0	2,149 (+2%)	10mo	$670,000	$312	74
249 Carrollton Ave	0.24mi	4/2.5	2,000 (-5%)	4mo	$720,000	$360	73
24 Maryland Dr	0.08mi	3/2.0 (-1)	2,028 (-4%)	18mo	$515,000	$254	65
111 Maryland Dr	0.18mi	3/2.0 (-1)	2,191 (+4%)	13mo	$485,000	$221	62
9523 Palm St	0.57mi	4/2.5	2,036 (-3%)	4mo	$252,000	$124	61
7 Althea Ln	0.14mi	3/2.5 (-1)	2,399 (+14%)	1mo	$610,000	$254	60
130 Carrollton Ave	0.21mi	3/2.0 (-1)	2,320 (+10%)	2mo	$410,000	$177	60
30 Papworth Ave	0.35mi	3/2.5 (-1)	1,901 (-10%)	1mo	$595,000	$313	58
216 Betz Pl	0.35mi	3/2.0 (-1)	2,043 (-3%)	12mo	$401,000	$196	58
309 Lake Ave	0.22mi	4/3.0	2,407 (+14%)	10mo	$650,000	$270	56
201 Iona St	0.44mi	3/2.5 (-1)	2,045 (-3%)	14mo	$670,000	$328	55

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: -21.4%
• Equity multiple: 0.28×
• Total profit: $-75,560
• Equity at exit: $55,914

10-year hold

• IRR: -25.3%
• Equity multiple: -0.05×
• Total profit: $-110,340
• Equity at exit: $32,423

Cash invested: $105,000 (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 70124

• Rents YoY: -0.4%
• Active inventory: 220
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $3,441 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$564 /mo · $6,763/yr
• Insurance: −$156
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$42
• Vacancy / Maint / Mgmt: −$723
• Net cashflow: $-77

Break-even live

Break-even rent $3,538

Max offer price $361,442

Occupancy floor 97%

Sensitivity live

Price	-10% $136	-5% $29	+0% $-77	+5% $-183	+10% $-289
Rent	-10% $-349	-5% $-213	+0% $-77	+5% $59	+10% $195
Rate	-1.0pp $112	-0.5pp $19	base $-77	+0.5pp $-174	+1.0pp $-273

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
228 Fairway Dr New Orleans, LA	3.0	2.5	2300	$4,300	$1.87	4d	1	0.08mi
228 Fairway Dr New Orleans, LA	3.0	2.5	2300	$4,300	$1.87	4d	1	0.08mi
109 Avenue E Metairie, LA	3.0	3.5	2068	$3,000	$1.45	45d	1	0.38mi
6465 Oakland Dr New Orleans, LA	3.0	2.5	2864	$4,000	$1.40	4d	1	0.65mi
209 Rosa Ave Metairie, LA	3.0	2.5	2400	$2,000	$0.83	15d	1	0.72mi
375 Aris Ave Metairie, LA	4.0	2.0	1480	$2,100	$1.42	24d	1	0.74mi
301 City Park Ave New Orleans, LA	4.0	2.0	1550	$2,000	$1.29	15d	1	0.91mi
5373 Canal Blvd New Orleans, LA	3.0	2.0	1800	$6,800	$3.78	18d	1	0.94mi
5373 Canal Blvd New Orleans, LA	3.0	2.0	1800	$4,200	$2.33	44d	1	0.94mi
4901 Iberville St New Orleans, LA	4.0	2.5	2256	$3,500	$1.55	44d	1	0.97mi
261 Hollywood Dr Unit C Metairie, LA	3.0	1.0	1400	$2,300	$1.64	5d	1	1.05mi
5622 Canal Blvd Unit Upper New Orleans, LA	3.0	2.0	1736	$2,100	$1.21	4d	1	1.08mi
517 Rosa Ave Metairie, LA	3.0	2.0	1900	$2,100	$1.11	5d	1	1.08mi
218 Aurora Ave Metairie, LA	3.0	2.5	2500	$2,500	$1.00	24d	1	1.11mi
437 Elmeer Ave Metairie, LA	3.0	2.0	2041	$3,950	$1.94	22d	1	1.17mi
700 Florida Blvd New Orleans, LA	3.0	2.5	1850	$1,950	$1.05	17d	1	1.17mi
8502 Edinburgh St New Orleans, LA	3.0	2.0	1456	$1,800	$1.24	4d	1	1.23mi
1003 Old Metairie Pl Metairie, LA	3.0	2.5	1900	$3,000	$1.58	24d	1	1.29mi
428 16th St New Orleans, LA	3.0	2.0	1682	$2,350	$1.40	18d	1	1.36mi
979 Navarre Ave New Orleans, LA	3.0	2.5	1926	$2,200	$1.14	24d	1	1.36mi
132 Hesper Ave Metairie, LA	4.0	4.0	2598	$5,500	$2.12	44d	1	1.36mi
318 18th St New Orleans, LA	3.0	2.0	1600	$2,320	$1.45	24d	1	1.41mi
4500 Saint Ann St New Orleans, LA	3.0	2.0	1500	$2,350	$1.57	18d	1	1.42mi
2527 Eagle St New Orleans, LA	3.0	2.0	1571	$2,200	$1.40	24d	1	1.46mi
4600 S Carrollton Ave Unit 2B New Orleans, LA	4.0	2.0	2097	$2,850	$1.36	24d	1	1.50mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 16 events

1. 2026-06-05
   statusdays on market $375,000 Pending 36 DOM
2. 2026-06-03
   days on market $375,000 Active 35 DOM
3. 2026-06-02
   days on market $375,000 Active 34 DOM
4. 2026-06-01
   days on market $375,000 Active 33 DOM
5. 2026-05-31
   days on market $375,000 Active 32 DOM
6. 2026-04-17
   listed $375,000 Active 190-char remark

   Show marketing remark (189 chars)

   Make this large lot in a highly sought-after neighborhood yours! This is your chance to build your dream home on this great lot. The value is in the land. Home is being sold as a tear down.

7. 2026-04-17
   listed $375,000 Active 189-char remark

   Show marketing remark (189 chars)

   Make this large lot in a highly sought-after neighborhood yours! This is your chance to build your dream home on this great lot. The value is in the land. Home is being sold as a tear down.

8. 2026-01-02
   price $400,000
9. 2026-01-02
   price $400,000
10. 2025-08-13
    listed $450,000 Active
11. 2006-07-14
    soldstatus $300,000
12. 2006-06-14
    soldstatus $300,000
13. 2006-03-16
    listed $325,000
14. 2006-03-16
    listed $325,000
15. 2000-04-04
    soldstatus $29,500
16. 1958-09-17
    soldstatus $29,500

ⓘ 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: $6,763 · $564/mo
• Projected year-2 tax: $6,763 · $564/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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,288
• − Mortgage interest: −$21,006
• − Property taxes: −$6,763
• − Insurance: −$2,672
• − Repairs & maintenance: −$3,303
• − Management: −$3,303
• − HOA: −$504
• − Depreciation: −$10,909
• Taxable loss: −$7,173
• Est. tax savings @ 24.0%: +$1,722
• After-tax cash flow: $801/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): 21,778
• Household income: $121,228
• Rent vs Own: 22.4% rent · 77.6% own
• Severe rent burden: 332.0

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 White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 14% Two or more races 13% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Cuban 4%
• Common ancestry: Lithuanian 18% Slovak 2% Italian 2%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 1% 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: ▼ -227.84%
• Current HPI: 181.5835
• Rent YoY: ▼ -0.37%
• 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

+1171.2% since first listed

13 events — show timeline

• 2026-06-04 Pending — AcadianaMLS
• 2026-06-04 Pending — GSREIN
• 2026-04-17 Listed $375,000 GSREIN
• 2026-04-17 Listed $375,000 AcadianaMLS
• 2026-01-02 Price Changed $400,000 AcadianaMLS
• 2026-01-02 Price Changed $400,000 GSREIN
• 2025-08-13 Listed $450,000 AcadianaMLS
• 2006-07-14 Sold (Public Records) $300,000 Public Records
• 2006-06-14 Sold (MLS) $300,000 GSREIN
• 2006-03-16 Listed $325,000 GSREIN
• 2006-03-16 Listed $325,000 AcadianaMLS
• 2000-04-04 Sold (Public Records) $29,500 Public Records
• 1958-09-17 Sold (Public Records) $29,500 Public Records

Property tax history

+0.9%/yr

Latest (2026): $6,763 · +1.1% YoY. Source: county tax records.