311 River Oaks Dr · New Orleans, LA 70131

$145,000

3 bd · 2.0 ba · 1,957 sqft · SingleFamily public records · 2 Days on market

Built 1970 8,267 sqft lot $74/sqft · 31% below area Est $224k · 35% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Rent growth +0.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming home offers comfort, convenience, and endless potential. Located in an established neighborhood with easy access to schools, shopping, dining, and major roadways. Home is being sold " As Is" Inspections would be for informational purposes only.

Key facts

• 8,267 sq ft lot
• Parking
• Built 1970

Tags

• ESTABLISHED NEIGHBORHOOD
• EASY ACCESS TO SCHOOLS
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• EASY ACCESS TO MAJOR ROADWAYS

Property features AI

Exterior

• Parking: Attached, one parking space
• Utilities: Public water; Public sewer
• Home design: Single-story home
• Construction: Shingle roof; Slab foundation
• Exterior features: City lot; Rectangular lot; Lot dimensions approximately 53 x 155

Interior

• Bedrooms: 3 full bathrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Total of 9 rooms; Average condition

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 12.7% 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: Rents falling (-9.2%/yr); 275 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• This rent runs 42% of the median local income ($62k/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 $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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $41k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 22y 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 $42k; list at $145k implies a 249% 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 $145,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.49% ✓
• Cap rate: 12.67%
• Cash-on-cash: 22.79%
• DSCR: 2.01
• GRM: 5.6

CMA / ARV

• ARV (median comp): $223,902
• List price: $145,000
• Delta: -35.24%
• 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
2133 Ellen Park Pl	0.27mi	3/2.5	2,018 (+3%)	0mo	$186,000	$92	80
2800 Hyman Pl	0.32mi	3/2.5	2,000 (+2%)	0mo	$246,500	$123	79
2638 Gallinghouse St	0.33mi	3/2.0	2,021 (+3%)	3mo	$200,000	$99	77
2542 Hudson Pl	0.41mi	3/2.5	1,903 (-3%)	5mo	$220,000	$116	70
5600 Durbridge Dr	0.58mi	4/2.5 (+1)	2,100 (+7%)	2mo	$305,000	$145	52
2529 Hudson Pl	0.38mi	4/2.5 (+1)	2,232 (+14%)	0mo	$240,000	$108	52
2000 Easter Ln	0.46mi	4/2.0 (+1)	2,209 (+13%)	5mo	$300,000	$136	47
3221 Hyman Pl	0.61mi	3/2.0	1,708 (-13%)	4mo	$65,000	$38	47
2513 Eton St	0.50mi	4/2.0 (+1)	2,210 (+13%)	5mo	$132,000	$60	46
5 Leeward Ct	0.51mi	4/2.5 (+1)	2,204 (+13%)	6mo	$365,000	$166	43
3401 Huntlee Dr	0.72mi	3/2.0	1,715 (-12%)	4mo	$180,000	$105	42
5400 Macarthur Blvd	0.71mi	3/2.0	1,700 (-13%)	4mo	$240,000	$141	42

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: 9.8%
• Equity multiple: 1.37×
• Total profit: $15,082
• Equity at exit: $21,620

10-year hold

• IRR: 16.3%
• Equity multiple: 2.15×
• Total profit: $46,589
• 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 70131

• Home prices YoY: -12.0%
• Rents YoY: -9.2%
• Active inventory: 275
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,160 high
• Mortgage (P&I): −$760
• Tax from tax record: −$114 /mo · $1,372/yr
• Insurance: −$60
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $705

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 62%

Sensitivity live

Price	-10% $787	-5% $746	+0% $705	+5% $664	+10% $623
Rent	-10% $534	-5% $619	+0% $705	+5% $790	+10% $875
Rate	-1.0pp $778	-0.5pp $741	base $705	+0.5pp $667	+1.0pp $629

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 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1410 Kabel Dr New Orleans, LA	3.0	2.0	2200	$2,200	$1.00	25d	1	0.13mi
103 Danny Dr New Orleans, LA	4.0	2.0	2040	$2,400	$1.18	25d	1	0.41mi
2001 Saint Nick Dr New Orleans, LA	4.0	2.5	2400	$2,300	$0.96	25d	1	0.41mi
2741 Chelsea Dr New Orleans, LA	4.0	2.5	2382	$2,500	$1.05	18d	1	0.57mi
3151 Plymouth Pl New Orleans, LA	3.0	1.0	1470	$1,700	$1.16	25d	1	0.60mi
5801 Albany Ct New Orleans, LA	4.0	2.5	2160	$2,000	$0.93	25d	1	0.67mi
3511 Hyman Pl New Orleans, LA	3.0	2.0	1975	$2,700	$1.37	3d	1	0.84mi
6021 Brighton Pl New Orleans, LA	4.0	3.0	1840	$3,100	$1.68	18d	1	1.00mi
3751 Herald St New Orleans, LA	4.0	2.0	1624	$2,150	$1.32	25d	1	1.01mi
3738 Somerset Dr New Orleans, LA	4.0	2.0	2247	$3,000	$1.34	16d	1	1.10mi
21 Carriage Ln New Orleans, LA	3.0	2.5	1900	$2,000	$1.05	23d	1	1.18mi
1825 Murl St New Orleans, LA	3.0	2.0	2484	$1,750	$0.70	25d	1	1.25mi
3000 Americus St New Orleans, LA	3.0	2.0	1280	$1,400	$1.09	25d	1	1.28mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	4d	1	1.35mi
1774 Pace Blvd New Orleans, LA	4.0	2.5	1574	$2,000	$1.27	25d	1	1.39mi
438 Friscoville Ave Arabi, LA	3.0	2.0	1500	$3,200	$2.13	4d	1	1.41mi
6015 Carlisle Ct New Orleans, LA	3.0	2.0	2300	$1,800	$0.78	18d	1	1.43mi

Listing history 18 events

1. 2026-05-16
   status Pending 268-char remark

   Show marketing remark (268 chars)

   This charming home offers comfort, convenience, and endless potential. Located in an established neighborhood with easy access to schools, shopping, dining, and major roadways. Home is being sold " As Is" Inspections would be for informational purposes only.

2. 2026-05-16
   status Pending 268-char remark

   Show marketing remark (268 chars)

   This charming home offers comfort, convenience, and endless potential. Located in an established neighborhood with easy access to schools, shopping, dining, and major roadways. Home is being sold " As Is" Inspections would be for informational purposes only.

3. 2026-05-14
   listed $145,000 Active 268-char remark

   Show marketing remark (268 chars)

   This charming home offers comfort, convenience, and endless potential. Located in an established neighborhood with easy access to schools, shopping, dining, and major roadways. Home is being sold " As Is" Inspections would be for informational purposes only.

4. 2026-05-14
   listed $145,000 Active 268-char remark

   Show marketing remark (268 chars)

   This charming home offers comfort, convenience, and endless potential. Located in an established neighborhood with easy access to schools, shopping, dining, and major roadways. Home is being sold " As Is" Inspections would be for informational purposes only.

5. 2011-02-14
   soldstatus $41,500

   Show marketing remark (252 chars)

   Put your personal touches on this one. Great price for this area. Seller will pay up to 3% towards purchasers closing costs and provide a 2 year home warranty for owner occupied purchaser. All offers must include a preapproval letter or proof of funds.

6. 2010-12-01
   listed $41,500

   Show marketing remark (252 chars)

   Put your personal touches on this one. Great price for this area. Seller will pay up to 3% towards purchasers closing costs and provide a 2 year home warranty for owner occupied purchaser. All offers must include a preapproval letter or proof of funds.

7. 2010-12-01
   listed $41,500

   Show marketing remark (252 chars)

   Put your personal touches on this one. Great price for this area. Seller will pay up to 3% towards purchasers closing costs and provide a 2 year home warranty for owner occupied purchaser. All offers must include a preapproval letter or proof of funds.

8. 2010-06-14
   listed $56,900
9. 2010-06-14
   listed $56,900
10. 2009-07-11
    listed $110,000
11. 2009-07-11
    listed $110,000
12. 2007-06-12
    soldstatus $127,500
13. 2007-06-08
    soldstatus $127,500
14. 2007-01-05
    listed $135,900
15. 2007-01-05
    listed $135,900
16. 2004-12-30
    soldstatus $118,000
17. 2004-05-01
    listed $120,000
18. 2004-05-01
    listed $120,000

ⓘ 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: $1,372 · $114/mo
• Projected year-2 tax: $1,372 · $114/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 · 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,917
• − Mortgage interest: −$8,122
• − Property taxes: −$1,372
• − Insurance: −$1,522
• − Repairs & maintenance: −$2,073
• − Management: −$2,073
• − Depreciation: −$4,218
• Taxable income: $6,535
• Est. tax owed @ 24.0%: −$1,568
• After-tax cash flow: $6,887/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): 25,151
• Household income: $62,389
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 707.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 62% White 20% Hispanic / Latino 11% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Dominican 2%
• Common ancestry: Lithuanian 4% Hispanic 1%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 9% Vietnamese 2% French/Haitian/Cajun 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: ▼ -28.08%
• Current HPI: 206.7552
• Rent YoY: ▼ -9.23%
• 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

+20.8% since first listed

18 events — show timeline

• 2026-05-16 Pending — AcadianaMLS
• 2026-05-16 Pending — GSREIN
• 2026-05-14 Listed $145,000 GSREIN
• 2026-05-14 Listed $145,000 AcadianaMLS
• 2011-02-14 Sold (MLS) $41,500 GSREIN
• 2010-12-01 Listed $41,500 AcadianaMLS
• 2010-12-01 Listed $41,500 GSREIN
• 2010-06-14 Listed $56,900 GSREIN
• 2010-06-14 Listed $56,900 AcadianaMLS
• 2009-07-11 Listed $110,000 GSREIN
• 2009-07-11 Listed $110,000 AcadianaMLS
• 2007-06-12 Sold (Public Records) $127,500 Public Records
• 2007-06-08 Sold (MLS) $127,500 GSREIN
• 2007-01-05 Listed $135,900 AcadianaMLS
• 2007-01-05 Listed $135,900 GSREIN
• 2004-12-30 Sold (MLS) $118,000 GSREIN
• 2004-05-01 Listed $120,000 AcadianaMLS
• 2004-05-01 Listed $120,000 GSREIN

Property tax history

+5.2%/yr

Latest (2026): $1,372 · -6.5% YoY. Source: county tax records.