5161 Lakeview Ct · New Orleans, LA 70126

$189,900

2 bd · 2.5 ba · 1,520 sqft · MultiFamily public records · 59 Days on market

Built 1960 7,125 sqft lot

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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
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Investment opportunity! This townhome-style triplex features three spacious 2-bedroom, 2.5-bath units — each offering off-street parking and private backyards. One unit is currently tenant-occupied, providing immediate rental income and opportunity to increase below market rent, while the two vacant units are primed for light updates and solid cash flow potential. Don't miss this chance to add this asset to your portfolio.

Key facts

• Cash flow potential
• Off-street parking
• Rental income

Tags

• OFF-STREET PARKING
• PRIVATE BACKYARDS
• RENTAL INCOME
• CASH FLOW POTENTIAL

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/2.5-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $451/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.3% vs local median 4.3% 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; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $3,453/mo this rent would consume 99% 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $53k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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 $165k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $184,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.82% ✓
• Cap rate: 15.26%
• Cash-on-cash: 32.03%
• DSCR: 2.43
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 1.85×
• Total profit: $45,362
• Equity at exit: $28,315

10-year hold

• IRR: 27.7%
• Equity multiple: 3.10×
• Total profit: $111,710
• Equity at exit: $16,419

Cash invested: $53,172 (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: 13.8×

Monthly cashflow live

• Estimated rent: $3,453 high
• Mortgage (P&I): −$996
• Tax from tax record: −$234 /mo · $2,803/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$725
• Net cashflow: $1,353

Break-even live

Break-even rent $1,741

Max offer price $189,900

Occupancy floor 56%

Sensitivity live

Price	-10% $1,460	-5% $1,407	+0% $1,353	+5% $1,299	+10% $1,245
Rent	-10% $1,080	-5% $1,216	+0% $1,353	+5% $1,489	+10% $1,626
Rate	-1.0pp $1,448	-0.5pp $1,401	base $1,353	+0.5pp $1,304	+1.0pp $1,254

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	2.5	$3,453
Total (3 units)			$3,453

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6628 Harbourview Dr New Orleans, LA	3.0	2.5	1520	$1,700	$1.12	4d	1	0.07mi
4819 21 Francis Dr New Orleans, LA	3.0	1.0	1272	$1,880	$1.48	4d	1	0.32mi
4745 Francis Dr New Orleans, LA	3.0	2.0	1311	$1,550	$1.18	17d	1	0.37mi
4722 Shalimar Dr New Orleans, LA	3.0	2.0	1157	$1,400	$1.21	24d	1	0.54mi
7530 Newcastle St New Orleans, LA	3.0	2.0	1913	$1,800	$0.94	24d	1	0.66mi
4527 Shalimar Dr New Orleans, LA	3.0	1.5	1174	$1,550	$1.32	24d	1	0.67mi
4522 Shalimar Dr New Orleans, LA	3.0	2.0	1350	$1,850	$1.37	24d	1	0.69mi
4745 Tulip St New Orleans, LA	3.0	1.0	1125	$1,750	$1.56	21d	1	0.70mi
5920 Boeing St New Orleans, LA	3.0	1.5	1340	$1,400	$1.04	24d	1	0.78mi
4452 Plum Orchard Ave New Orleans, LA	2.0	1.0	1100	$1,250	$1.14	4d	1	0.79mi
5611 Rickert Dr New Orleans, LA	3.0	2.5	2155	$2,900	$1.35	44d	1	0.80mi
4441 Cessna Ct New Orleans, LA	3.0	1.5	1400	$1,600	$1.14	24d	1	0.81mi
7404 Sussex Pl New Orleans, LA	2.0	1.5	1400	$1,450	$1.04	4d	1	0.88mi
4880 Viola St New Orleans, LA	3.0	2.0	1150	$1,595	$1.39	24d	1	0.91mi
7611 Mayfair Pl New Orleans, LA	2.0	1.5	1440	$1,450	$1.01	4d	1	0.92mi
4808 Viola St New Orleans, LA	3.0	2.0	1130	$1,500	$1.33	24d	1	0.93mi
6027 Wales St New Orleans, LA	3.0	1.0	1146	$1,550	$1.35	24d	1	0.95mi
6025 Wales St New Orleans, LA	3.0	1.0	1147	$1,550	$1.35	24d	1	0.96mi
5704 Count Ln New Orleans, LA	3.0	1.5	1572	$1,700	$1.08	24d	1	0.97mi
6032 Kuebel Dr New Orleans, LA	3.0	2.0	1100	$1,600	$1.45	24d	1	0.97mi
6030 Kuebel Dr New Orleans, LA	3.0	2.0	1100	$1,600	$1.45	24d	1	0.98mi
7702 Belcrest Pl New Orleans, LA	3.0	1.5	1150	$1,650	$1.43	24d	1	1.00mi
7918 W Laverne St New Orleans, LA	3.0	2.0	1166	$1,750	$1.50	24d	1	1.01mi
7909 Edward St New Orleans, LA	3.0	1.5	1073	$1,850	$1.72	4d	1	1.09mi
8025 Pompano St New Orleans, LA	3.0	1.0	1131	$1,595	$1.41	17d	1	1.09mi
7608 Laine Ave New Orleans, LA	3.0	2.5	2060	$1,950	$0.95	24d	1	1.25mi
5747 Pauline Dr New Orleans, LA	3.0	1.0	1300	$1,400	$1.08	12d	1	1.37mi
5925 Pauline Dr New Orleans, LA	3.0	2.0	1566	$2,325	$1.48	17d	1	1.39mi
7401 Scottsdale Dr New Orleans, LA	3.0	2.5	2100	$2,000	$0.95	24d	1	1.44mi

Listing history 9 events

1. 2025-07-11
   soldstatus $165,000 Closed 432-char remark

   Show marketing remark (432 chars)

   Investment opportunity! This townhome-style triplex features three spacious 2-bedroom, 2.5-bath units — each offering off-street parking and private backyards. One unit is currently tenant-occupied, providing immediate rental income and opportunity to increase below market rent, while the two vacant units are primed for light updates and solid cash flow potential. Don't miss this chance to add this asset to your portfolio.

2. 2025-06-10
   historical Active Under Contract 432-char remark

   Show marketing remark (432 chars)

   Investment opportunity! This townhome-style triplex features three spacious 2-bedroom, 2.5-bath units — each offering off-street parking and private backyards. One unit is currently tenant-occupied, providing immediate rental income and opportunity to increase below market rent, while the two vacant units are primed for light updates and solid cash flow potential. Don't miss this chance to add this asset to your portfolio.

3. 2025-05-28
   status Active 432-char remark

   Show marketing remark (432 chars)

   Investment opportunity! This townhome-style triplex features three spacious 2-bedroom, 2.5-bath units — each offering off-street parking and private backyards. One unit is currently tenant-occupied, providing immediate rental income and opportunity to increase below market rent, while the two vacant units are primed for light updates and solid cash flow potential. Don't miss this chance to add this asset to your portfolio.

4. 2025-05-12
   historical Active Under Contract 432-char remark

   Show marketing remark (432 chars)

   Investment opportunity! This townhome-style triplex features three spacious 2-bedroom, 2.5-bath units — each offering off-street parking and private backyards. One unit is currently tenant-occupied, providing immediate rental income and opportunity to increase below market rent, while the two vacant units are primed for light updates and solid cash flow potential. Don't miss this chance to add this asset to your portfolio.

5. 2025-03-28
   listed $189,900 Active 432-char remark

   Show marketing remark (432 chars)

   Investment opportunity! This townhome-style triplex features three spacious 2-bedroom, 2.5-bath units — each offering off-street parking and private backyards. One unit is currently tenant-occupied, providing immediate rental income and opportunity to increase below market rent, while the two vacant units are primed for light updates and solid cash flow potential. Don't miss this chance to add this asset to your portfolio.

6. 2025-03-28
   listed $189,900 Active

   Show marketing remark (432 chars)

   Investment opportunity! This townhome-style triplex features three spacious 2-bedroom, 2.5-bath units — each offering off-street parking and private backyards. One unit is currently tenant-occupied, providing immediate rental income and opportunity to increase below market rent, while the two vacant units are primed for light updates and solid cash flow potential. Don't miss this chance to add this asset to your portfolio.

7. 2024-03-08
   listed $210,000
8. 2015-02-03
   listed $67,000
9. 1989-07-07
   soldstatus $32,900

ⓘ 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: $2,803 · $234/mo
• Projected year-2 tax: $2,803 · $234/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) · 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: $41,436
• − Mortgage interest: −$10,637
• − Property taxes: −$2,803
• − Insurance: −$1,747
• − Repairs & maintenance: −$3,315
• − Management: −$3,315
• − Depreciation: −$5,524
• Taxable income: $14,094
• Est. tax owed @ 24.0%: −$3,383
• After-tax cash flow: $12,851/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

+401.5% since first listed

9 events — show timeline

• 2025-07-11 Sold (MLS) $165,000 GSREIN
• 2025-06-10 Contingent — GSREIN
• 2025-05-28 Relisted — GSREIN
• 2025-05-12 Contingent — GSREIN
• 2025-03-28 Listed $189,900 AcadianaMLS
• 2025-03-28 Listed $189,900 GSREIN
• 2024-03-08 Listed $210,000 AcadianaMLS
• 2015-02-03 Listed $67,000 GSREIN
• 1989-07-07 Sold (Public Records) $32,900 Public Records

Property tax history

+11.9%/yr

Latest (2026): $2,803 · +1.1% YoY. Source: county tax records.