4831 Piety Dr · New Orleans, LA 70126

$199,000

3 bd · 2.0 ba · 1,694 sqft · SingleFamily public records · 42 Days on market

Built 1960 $117/sqft · 17% below area Est $239k · 17% 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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• 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

A must-see home! This traditional 3-bedroom/2-bath home offers spacious living both inside and out! The paved driveway leads to a covered carport perfect for any weather. Step inside and enjoy an open floor plan. The large living room leads to a generous dining area and a spacious kitchen featuring stainless steel appliances. The master bedroom has a large bathroom with a jacuzzi tub for relaxing at the end of the day. Abundant storage in the huge walk-in closet! Two additional spacious bedrooms offer ample storage. The backyard is a blank slate ready for your personal touch! NEW ROOF!! QUIET NEIGHBORHOOD!! SCHEDULE A SHOWING TODAY!! Some photos utilize virtual staging.

Key facts

• Open floor plan
• Huge walk-in closet
• Covered carport

Tags

• PAVED DRIVEWAY
• COVERED CARPORT
• OPEN FLOOR PLAN
• STAINLESS STEEL APPLIANCES
• JACUZZI TUB
• HUGE WALK-IN CLOSET

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking: Carport; Off-street parking; Two parking spaces
• Security: Security system; Smoke detectors
• Utilities: Public water; Public sewer; Insulated; Water heater
• Home design: Single-story; Very good condition; Aluminum siding exterior; Shingle roof; Slab foundation
• Construction: Built with aluminum siding; Shingle roof; Slab foundation
• Exterior features: Fence; City lot; Rectangular lot; Lot dimensions approximately 69 x 99

Interior

• Kitchen: Cooktop; Microwave; Oven; Refrigerator
• Bedrooms:
• Flooring:
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Pantry
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (5.1% below list).
• Recommended offer: $189k (5.1% below list) — sets the bar for 1% rule.
• Cap rate 8.1% 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 (-0.2%/yr); 224 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $1,888/mo this rent would consume 54% of the median local household income ($42k/yr) (locally 1767% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 42 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 19y 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 $50k; list at $199k implies a 298% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $188,849 (5.1% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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: 0.95% ✗
• Cap rate: 8.07%
• Cash-on-cash: 6.34%
• DSCR: 1.28
• GRM: 8.8

CMA / ARV

• ARV (median comp): $238,972
• List price: $199,000
• Delta: -16.73%
• 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
5134 Gallier Dr	0.25mi	3/2.0	1,659 (-2%)	2mo	$275,000	$166	83
4647 Dreux Ave	0.34mi	3/2.5	1,724 (+2%)	5mo	$307,500	$178	75
4571 Feliciana Dr	0.32mi	3/2.0	1,571 (-7%)	1mo	$195,000	$124	72
4617 Metropolitan Dr	0.23mi	4/2.0 (+1)	1,800 (+6%)	6mo	$338,000	$188	69
4759 Pauline Dr	0.22mi	4/2.0 (+1)	1,867 (+10%)	2mo	$255,000	$137	66
4978 Kendall Dr	0.31mi	3/2.0	1,450 (-14%)	1mo	$205,000	$141	60
4985 Feliciana Dr	0.33mi	4/2.0 (+1)	1,900 (+12%)	1mo	$240,000	$126	59
4517 Metropolitan Dr	0.26mi	2/2.0 (-1)	1,497 (-12%)	8mo	$220,000	$147	57
5110 Press Dr	0.47mi	4/2.0 (+1)	1,553 (-8%)	6mo	$155,000	$100	54
4318 Mendez St	0.55mi	3/2.0	1,508 (-11%)	3mo	$60,000	$40	54
4717 Mendez St	0.52mi	3/2.5	1,916 (+13%)	2mo	$133,300	$70	51
5439 Seminary Pl	0.66mi	3/1.5	1,584 (-6%)	8mo	$52,000	$33	50

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: -11.9%
• Equity multiple: 0.58×
• Total profit: $-23,291
• Equity at exit: $29,672

10-year hold

• IRR: -7.5%
• Equity multiple: 0.59×
• Total profit: $-23,122
• Equity at exit: $17,206

Cash invested: $55,720 (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 70126

• Home prices YoY: -17.0%
• Rents YoY: -0.2%
• Active inventory: 224
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,888 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$71 /mo · $850/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $228

Break-even live

Break-even rent $1,600

Max offer price $199,000

Occupancy floor 83%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4722 Mithra St New Orleans, LA	3.0	1.5	1295	$1,600	$1.24	24d	1	0.40mi
5550 Press Dr New Orleans, LA	3.0	2.0	1640	$2,000	$1.22	16d	1	0.66mi
4681 Eastern St New Orleans, LA	2.0	1.0	1100	$1,400	$1.27	16d	1	0.72mi
5747 Pauline Dr New Orleans, LA	3.0	1.0	1300	$1,400	$1.08	12d	1	0.74mi
4936 Baccich St New Orleans, LA	3.0	1.0	1053	$1,700	$1.61	24d	1	0.79mi
4767 Lafaye St New Orleans, LA	3.0	2.0	1469	$2,000	$1.36	24d	1	0.81mi
5925 Pauline Dr New Orleans, LA	3.0	2.0	1566	$2,325	$1.48	16d	1	0.85mi
5920 Boeing St New Orleans, LA	3.0	1.5	1340	$1,400	$1.04	24d	1	0.93mi
4441 Cessna Ct New Orleans, LA	3.0	1.5	1400	$1,600	$1.14	24d	1	0.97mi
4409 Skyview Dr New Orleans, LA	4.0	2.5	1560	$1,700	$1.09	16d	1	1.00mi
5172 Venus St Unit 5172 New Orleans, LA	3.0	2.5	1864	$2,450	$1.31	24d	1	1.04mi
4522 Shalimar Dr New Orleans, LA	3.0	2.0	1350	$1,850	$1.37	24d	1	1.08mi
4527 Shalimar Dr New Orleans, LA	3.0	1.5	1174	$1,550	$1.32	24d	1	1.10mi
4722 Shalimar Dr New Orleans, LA	3.0	2.0	1157	$1,400	$1.21	24d	1	1.13mi
3718 Franklin Ave New Orleans, LA	2.0	1.0	1601	$1,800	$1.12	12d	1	1.25mi
3316 Metropolitan St New Orleans, LA	3.0	2.0	1184	$1,700	$1.44	24d	1	1.25mi
2647 Myrtle St Unit 2647 New Orleans, LA	4.0	2.0	1445	$2,550	$1.76	44d	1	1.28mi
2458 Athis St New Orleans, LA	4.0	2.0	1530	$2,200	$1.44	24d	1	1.28mi
3302 Metropolitan St New Orleans, LA	4.0	2.5	1700	$2,200	$1.29	17d	1	1.28mi
6226 Lafaye St New Orleans, LA	2.0	2.0	1137	$2,600	$2.29	44d	1	1.29mi
6226 Lafaye St New Orleans, LA	2.0	2.0	1137	$2,600	$2.29	12d	1	1.29mi
7404 Sussex Pl New Orleans, LA	2.0	1.5	1400	$1,450	$1.04	3d	1	1.29mi
2646 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	17d	1	1.33mi
2644 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	17d	1	1.33mi
2739 Bay St Unit B New Orleans, LA	4.0	2.0	1400	$1,800	$1.29	20d	1	1.33mi
6416 Baccich St New Orleans, LA	3.0	2.0	1908	$2,500	$1.31	44d	1	1.35mi
4745 Francis Dr New Orleans, LA	3.0	2.0	1311	$1,550	$1.18	16d	1	1.36mi
4819 21 Francis Dr New Orleans, LA	3.0	1.0	1272	$1,880	$1.48	3d	1	1.38mi
6530 Peoples Ave New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	24d	1	1.39mi
5704 Count Ln New Orleans, LA	3.0	1.5	1572	$1,700	$1.08	24d	1	1.40mi
7611 Mayfair Pl New Orleans, LA	2.0	1.5	1440	$1,450	$1.01	3d	1	1.42mi
5519 Mandeville St New Orleans, LA	3.0	1.0	1125	$1,650	$1.47	3d	1	1.42mi
7702 Belcrest Pl New Orleans, LA	3.0	1.5	1150	$1,650	$1.43	24d	1	1.42mi
4618 Marigny St New Orleans, LA	3.0	1.0	1320	$1,900	$1.44	24d	1	1.44mi
2509 Sage St New Orleans, LA	3.0	1.0	1250	$1,650	$1.32	21d	1	1.46mi
6222 Arts St Unit 6226 New Orleans, LA	2.0	1.5	1120	$1,250	$1.12	24d	1	1.47mi

Listing history 32 events

1. 2026-06-18
   days on market $199,000 Active 42 DOM
2. 2026-06-17
   status $199,000 Active 41 DOM

   Show marketing remark (678 chars)

   A must-see home! This traditional 3-bedroom/2-bath home offers spacious living both inside and out! The paved driveway leads to a covered carport perfect for any weather. Step inside and enjoy an open floor plan. The large living room leads to a generous dining area and a spacious kitchen featuring stainless steel appliances. The master bedroom has a large bathroom with a jacuzzi tub for relaxing at the end of the day. Abundant storage in the huge walk-in closet! Two additional spacious bedrooms offer ample storage. The backyard is a blank slate ready for your personal touch! NEW ROOF!! QUIET NEIGHBORHOOD!! SCHEDULE A SHOWING TODAY!! Some photos utilize virtual staging.

3. 2026-06-17
   days on market $199,000 Active Under Contract 41 DOM

   Show marketing remark (678 chars)

   A must-see home! This traditional 3-bedroom/2-bath home offers spacious living both inside and out! The paved driveway leads to a covered carport perfect for any weather. Step inside and enjoy an open floor plan. The large living room leads to a generous dining area and a spacious kitchen featuring stainless steel appliances. The master bedroom has a large bathroom with a jacuzzi tub for relaxing at the end of the day. Abundant storage in the huge walk-in closet! Two additional spacious bedrooms offer ample storage. The backyard is a blank slate ready for your personal touch! NEW ROOF!! QUIET NEIGHBORHOOD!! SCHEDULE A SHOWING TODAY!! Some photos utilize virtual staging.

4. 2026-06-16
   days on market $199,000 Active Under Contract 40 DOM
5. 2026-06-15
   days on market $199,000 Active Under Contract 39 DOM
6. 2026-06-13
   days on market $199,000 Active Under Contract 37 DOM
7. 2026-06-10
   days on market $199,000 Active Under Contract 34 DOM
8. 2026-06-09
   days on market $199,000 Active Under Contract 33 DOM
9. 2026-06-08
   days on market $199,000 Active Under Contract 32 DOM
10. 2026-06-07
    days on market $199,000 Active Under Contract 31 DOM
11. 2026-06-05
    days on market $199,000 Active Under Contract 28 DOM
12. 2026-06-03
    days on market $199,000 Active Under Contract 27 DOM
13. 2026-06-02
    days on market $199,000 Active Under Contract 26 DOM
14. 2026-06-01
    days on market $199,000 Active Under Contract 25 DOM
15. 2026-05-31
    days on market $199,000 Active Under Contract 24 DOM
16. 2026-05-07
    listed $199,000 Active 678-char remark

    Show marketing remark (678 chars)

    A must-see home! This traditional 3-bedroom/2-bath home offers spacious living both inside and out! The paved driveway leads to a covered carport perfect for any weather. Step inside and enjoy an open floor plan. The large living room leads to a generous dining area and a spacious kitchen featuring stainless steel appliances. The master bedroom has a large bathroom with a jacuzzi tub for relaxing at the end of the day. Abundant storage in the huge walk-in closet! Two additional spacious bedrooms offer ample storage. The backyard is a blank slate ready for your personal touch! NEW ROOF!! QUIET NEIGHBORHOOD!! SCHEDULE A SHOWING TODAY!! Some photos utilize virtual staging.

17. 2026-05-07
    listed $199,000 Active

    Show marketing remark (678 chars)

    A must-see home! This traditional 3-bedroom/2-bath home offers spacious living both inside and out! The paved driveway leads to a covered carport perfect for any weather. Step inside and enjoy an open floor plan. The large living room leads to a generous dining area and a spacious kitchen featuring stainless steel appliances. The master bedroom has a large bathroom with a jacuzzi tub for relaxing at the end of the day. Abundant storage in the huge walk-in closet! Two additional spacious bedrooms offer ample storage. The backyard is a blank slate ready for your personal touch! NEW ROOF!! QUIET NEIGHBORHOOD!! SCHEDULE A SHOWING TODAY!! Some photos utilize virtual staging.

18. 2026-04-27
    price $245,000
19. 2026-04-27
    price $245,000
20. 2026-03-10
    historical $1,900
21. 2026-03-10
    listed $260,000 Active
22. 2026-02-27
    listed $1,900
23. 2024-08-03
    historical $1,900
24. 2024-07-27
    price $1,900
25. 2024-07-26
    price $1,800
26. 2024-05-03
    listed $1,700
27. 2024-05-03
    historical $1,700
28. 2024-04-12
    listed $1,700
29. 2008-01-22
    soldstatus $50,000
30. 2008-01-18
    soldstatus $50,000
31. 2007-10-11
    listed $52,500
32. 2007-10-11
    listed $52,500

ⓘ 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: $850 · $71/mo
• Projected year-2 tax: $1,094 · $91/mo
• Expected delta: +$245/yr (+$20/mo · 28.8%)

ⓘ 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 ≥107°F today · 21 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: $22,662
• − Mortgage interest: −$11,147
• − Property taxes: −$850
• − Insurance: −$1,792
• − Repairs & maintenance: −$1,813
• − Management: −$1,813
• − Depreciation: −$5,789
• Taxable loss: −$543
• Est. tax savings @ 24.0%: +$130
• After-tax cash flow: $2,868/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): 27,047
• Household income: $41,709
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 1767.0

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 Black (85%)
• Race & ethnicity: Black 85% Hispanic / Latino 6% Two or more races 5% White 5%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 5% 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: ▼ -36.35%
• Current HPI: 177.355
• Rent YoY: ▼ -0.24%
• 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

+279.0% since first listed

21 events — show timeline

• 2026-06-17 Relisted — AcadianaMLS
• 2026-06-17 Relisted — GSREIN
• 2026-05-27 Pending — AcadianaMLS
• 2026-05-27 Contingent — GSREIN
• 2026-05-07 Listed $199,000 GSREIN
• 2026-05-07 Listed $199,000 AcadianaMLS
• 2026-04-27 Price Changed $245,000 AcadianaMLS
• 2026-04-27 Price Changed $245,000 GSREIN
• 2026-03-10 Rental Removed $1,900 GSREIN
• 2026-03-10 Listed $260,000 AcadianaMLS
• 2026-02-27 Listed for Rent $1,900 GSREIN
• 2024-08-03 Rental Removed $1,900 GSREIN
• 2024-07-27 Price Changed $1,900 GSREIN
• 2024-07-26 Price Changed $1,800 GSREIN
• 2024-05-03 Listed for Rent $1,700 GSREIN
• 2024-05-03 Rental Removed $1,700 GSREIN
• 2024-04-12 Listed for Rent $1,700 GSREIN
• 2008-01-22 Sold (Public Records) $50,000 Public Records
• 2008-01-18 Sold (MLS) $50,000 GSREIN
• 2007-10-11 Listed $52,500 GSREIN
• 2007-10-11 Listed $52,500 AcadianaMLS

Property tax history

-0.8%/yr

Latest (2026): $850 · -7.0% YoY. Source: county tax records.