5024 Madrid St · New Orleans, LA 70126

$145,000

3 bd · 1.0 ba · 1,901 sqft · SingleFamily public records · 38 Days on market

Built 1950 5,702 sqft lot $76/sqft · 41% below area Est $245k · 41% under

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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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• 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

This lovely and spacious home in Historic Pontchartrain Park offers, 3 bedrooms, a breakfast room, combined living and dining area, den and spacious backyard. The home is located just one block from the golf course which also includes a restaurant. The neighborhood includes recreation for all ages including a park, basketball and tennis courts and a senior recreation center. Also, conveniently located near Lake Pontchartrain, the Seabrook Boat Launch and the interstate.

Key facts

• 5,702 sq ft lot
• Parking
• Built 1950

Property features AI

Finance

• HOA & community: Association: Pontilly

Exterior

• Parking: Driveway
• Security: Security system; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-story; Brick construction; Shingle roof; Slab foundation
• Construction: Built with brick; Shingle roof; Slab foundation
• Exterior features: Concrete patio/porch; City lot; Rectangular lot; Lot dimensions approximately 57 x 100

Interior

• Kitchen: Oven; Range; ENERGY STAR qualified appliances
• Bedrooms: Total of 6 rooms (includes bedrooms and other living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Security system; Smoke detectors; Average condition

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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; 20 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 $1,949/mo this rent would consume 56% 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 $4k 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 38 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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: 1.34% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.52%
• DSCR: 1.69
• GRM: 6.2

CMA / ARV

• ARV (median comp): $245,415
• List price: $145,000
• Delta: -40.92%
• 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
5919 Pauline St	0.07mi	3/2.5	1,887 (-1%)	4mo	$350,000	$185	86
4717 Mendez St	0.39mi	3/2.5	1,916 (+1%)	2mo	$133,300	$70	73
5757 Campus Blvd	0.55mi	3/2.5	1,853 (-2%)	5mo	$265,000	$143	60
6128 Campus Blvd	0.55mi	3/2.0	1,760 (-7%)	3mo	$314,000	$178	55
6000 Campus Blvd	0.56mi	3/2.0	1,849 (-3%)	12mo	$335,000	$181	55
5645 Campus Blvd	0.58mi	3/2.0	1,819 (-4%)	12mo	$328,000	$180	52
4647 Dreux Ave	0.58mi	3/2.5	1,724 (-9%)	5mo	$307,500	$178	48
5549 St Ferdinand Dr	0.68mi	4/3.0 (+1)	1,904 (+0%)	11mo	$285,000	$150	46
5134 Gallier Dr	0.64mi	3/2.0	1,659 (-13%)	2mo	$275,000	$166	43
5128 Cunningham Ct	0.66mi	3/2.5	2,062 (+8%)	10mo	$321,000	$156	41
4823 Dreux Ave	0.55mi	3/2.0	1,650 (-13%)	10mo	$325,000	$197	40
5125 Pauline Dr	0.64mi	3/2.0	1,675 (-12%)	9mo	$285,000	$170	39

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: 0.1%
• Equity multiple: 1.00×
• Total profit: $81
• Equity at exit: $21,620

10-year hold

• IRR: 6.1%
• Equity multiple: 1.39×
• Total profit: $15,926
• Equity at exit: $12,537

Cash invested: $40,600 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,949 high
• Mortgage (P&I): −$760
• Tax from tax record: −$194 /mo · $2,327/yr
• Insurance: −$60
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $459

Break-even live

Break-even rent $1,369

Max offer price $145,000

Occupancy floor 71%

Sensitivity live

Price	-10% $541	-5% $500	+0% $459	+5% $418	+10% $377
Rent	-10% $305	-5% $382	+0% $459	+5% $536	+10% $613
Rate	-1.0pp $532	-0.5pp $496	base $459	+0.5pp $421	+1.0pp $383

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5925 Pauline Dr New Orleans, LA	3.0	2.0	1566	$2,325	$1.48	16d	1	0.06mi
5747 Pauline Dr New Orleans, LA	3.0	1.0	1300	$1,400	$1.08	12d	1	0.17mi
4722 Mithra St New Orleans, LA	3.0	1.5	1295	$1,600	$1.24	24d	1	0.51mi
5550 Press Dr New Orleans, LA	3.0	2.0	1640	$2,000	$1.22	16d	1	0.59mi
7404 Sussex Pl New Orleans, LA	2.0	1.5	1400	$1,450	$1.04	3d	1	0.66mi
5704 Count Ln New Orleans, LA	3.0	1.5	1572	$1,700	$1.08	24d	1	0.70mi
7611 Mayfair Pl New Orleans, LA	2.0	1.5	1440	$1,450	$1.01	4d	1	0.74mi
6416 Baccich St New Orleans, LA	3.0	2.0	1908	$2,500	$1.31	44d	1	0.79mi
5920 Boeing St New Orleans, LA	3.0	1.5	1340	$1,400	$1.04	24d	1	1.12mi
2458 Athis St New Orleans, LA	4.0	2.0	1530	$2,200	$1.44	24d	1	1.15mi
4441 Cessna Ct New Orleans, LA	3.0	1.5	1400	$1,600	$1.14	24d	1	1.21mi
7530 Newcastle St New Orleans, LA	3.0	2.0	1913	$1,800	$0.94	24d	1	1.24mi
5172 Venus St Unit 5172 New Orleans, LA	3.0	2.5	1864	$2,450	$1.31	24d	1	1.24mi
4522 Shalimar Dr New Orleans, LA	3.0	2.0	1350	$1,850	$1.37	24d	1	1.25mi
4409 Skyview Dr New Orleans, LA	4.0	2.5	1560	$1,700	$1.09	16d	1	1.25mi
4767 Lafaye St New Orleans, LA	3.0	2.0	1469	$2,000	$1.36	24d	1	1.25mi
6329 Spain St New Orleans, LA	3.0	2.0	1545	$2,100	$1.36	16d	1	1.29mi
4819 21 Francis Dr New Orleans, LA	3.0	1.0	1272	$1,880	$1.48	4d	1	1.33mi
4745 Francis Dr New Orleans, LA	3.0	2.0	1311	$1,550	$1.18	16d	1	1.35mi
6628 Harbourview Dr New Orleans, LA	3.0	2.5	1520	$1,700	$1.12	4d	1	1.48mi

Listing history 16 events

1. 2026-06-18
   days on market $145,000 Active 38 DOM
2. 2026-06-17
   days on market $145,000 Active 37 DOM
3. 2026-06-16
   days on market $145,000 Active 36 DOM
4. 2026-06-15
   days on market $145,000 Active 35 DOM
5. 2026-06-13
   days on market $145,000 Active 33 DOM
6. 2026-06-10
   days on market $145,000 Active 30 DOM
7. 2026-06-09
   days on market $145,000 Active 29 DOM
8. 2026-06-08
   days on market $145,000 Active 28 DOM
9. 2026-06-07
   days on market $145,000 Active 27 DOM
10. 2026-06-05
    days on market $145,000 Active 24 DOM
11. 2026-06-03
    days on market $145,000 Active 23 DOM
12. 2026-06-02
    days on market $145,000 Active 22 DOM
13. 2026-06-01
    days on market $145,000 Active 21 DOM
14. 2026-05-31
    days on market $145,000 Active 20 DOM
15. 2026-05-11
    listed $145,000 Active 474-char remark

    Show marketing remark (474 chars)

    This lovely and spacious home in Historic Pontchartrain Park offers, 3 bedrooms, a breakfast room, combined living and dining area, den and spacious backyard. The home is located just one block from the golf course which also includes a restaurant. The neighborhood includes recreation for all ages including a park, basketball and tennis courts and a senior recreation center. Also, conveniently located near Lake Pontchartrain, the Seabrook Boat Launch and the interstate.

16. 2026-05-11
    listed $145,000 Active 474-char remark

    Show marketing remark (474 chars)

    This lovely and spacious home in Historic Pontchartrain Park offers, 3 bedrooms, a breakfast room, combined living and dining area, den and spacious backyard. The home is located just one block from the golf course which also includes a restaurant. The neighborhood includes recreation for all ages including a park, basketball and tennis courts and a senior recreation center. Also, conveniently located near Lake Pontchartrain, the Seabrook Boat Launch and the interstate.

ⓘ 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: $2,327 · $194/mo
• Projected year-2 tax: $2,327 · $194/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 ≥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: $23,389
• − Mortgage interest: −$8,122
• − Property taxes: −$2,327
• − Insurance: −$1,522
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − Depreciation: −$4,218
• Taxable income: $3,457
• Est. tax owed @ 24.0%: −$830
• After-tax cash flow: $4,674/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

+0.0% since first listed

2 events — show timeline

• 2026-05-11 Listed $145,000 AcadianaMLS
• 2026-05-11 Listed $145,000 GSREIN

Property tax history

+36.0%/yr

Latest (2026): $2,327 · +1.1% YoY. Source: county tax records.