8327 Belfast St · New Orleans, LA 70118

$1,150

2 bd · 1.0 ba · 800 sqft · MultiFamily · 11 Days on market

Built 1950 Good condition

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.7/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Recently renovated 2 bedroom/ 1 bath homeith open floor plan located in Carrollton. Newly refinished wood floors throughout with large closets in each bedroom. Ceiling fans throughout, fully equipped eat in kitchen featuring: granite, counter tops, stainless steel appliances; gas stove, microwave, refrigerator and dishwasher. Off street parking, central air/heat, washer/dryer. No pets allowed, tenant pays utilities.

Key facts

• Open floor plan
• Large closets
• Granite counter tops

Tags

• OPEN FLOOR PLAN
• NEWLY REFINISHED WOOD FLOORS
• LARGE CLOSETS
• FULLY EQUIPPED EAT IN KITCHEN
• GRANITE COUNTER TOPS
• STAINLESS STEEL APPLIANCES

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-story; Raised foundation
• Construction: Wood siding; Shingle roof; Built with raised foundation
• Exterior features: Front porch; City lot; Rectangular lot; Lot dimensions approximately 41 x 100

Interior

• Bedrooms: 2 rooms total
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Very good condition
• Laundry & utility: Tenants pay electricity, gas, and water

🏷️ Possibly a rental listed for sale. The $1,150 price doesn't fit this home's estimated sale value and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $1k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1k).
• Cap rate 1207.6% 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 flat; 279 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $8 of loan paydown is wiped out by about $34 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 + 1.0% rent growth), your $322 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $1,150

Questions for the listing agent

1. Built in 1950 — 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. 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?
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 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: 127.60% ✓
• Cap rate: 1207.65%
• Cash-on-cash: 4290.55%
• DSCR: 191.91
• GRM: 0.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.97% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 206.07×
• Total profit: $66,033
• Equity at exit: $171

10-year hold

• IRR: —
• Equity multiple: 420.73×
• Total profit: $135,152
• Equity at exit: $99

Cash invested: $322 (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 70118

• Rents YoY: 1.0%
• Active inventory: 279
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,467 high
• Mortgage (P&I): −$6
• Tax est. 1.5%: −$1 /mo · $17/yr
• Insurance: −$0
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $1,085

Break-even live

Break-even rent $94

Max offer price $1,150

Occupancy floor 21%

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: $288
• Closing costs: $34
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8327 Belfast St heuristic New Orleans, LA	2.0	1.0	800	$1,150	$1.44	25d	1	0.02mi
8327 Belfast St New Orleans, LA	2.0	1.0	800	$1,150	$1.44	14d	1	0.02mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.09mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.09mi
8417 Apple St New Orleans, LA	2.0	1.0	828	$1,200	$1.45	17d	1	0.10mi
8127 Belfast St New Orleans, LA	1.0	1.0	621	$1,000	$1.61	23d	1	0.12mi
8429 Apple St Unit 1B New Orleans, LA	2.0	1.0	803	$1,400	$1.74	23d	1	0.12mi
8205 Nelson St Unit A New Orleans, LA	2.0	1.0	600	$1,000	$1.67	14d	1	0.16mi
2730 Leonidas St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	23d	1	0.20mi
8610 Apricot St New Orleans, LA	3.0	2.0	1000	$2,200	$2.20	10d	1	0.21mi
4 Fontainebleau Dr Unit A New Orleans, LA	1.0	1.0	700	$1,450	$2.07	23d	1	0.23mi
8637 Belfast St New Orleans, LA	2.0	1.0	800	$1,195	$1.49	23d	1	0.24mi
8633 Nelson St New Orleans, LA	2.0	1.0	800	$1,100	$1.38	2d	1	0.27mi
8709 Pritchard Pl New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	21d	1	0.30mi
2311 Joliet St New Orleans, LA	2.0	2.0	950	$1,900	$2.00	23d	1	0.30mi
8812 Apple St New Orleans, LA	3.0	2.0	1085	$1,650	$1.52	16d	1	0.35mi
8328 Forshey St New Orleans, LA	2.0	1.0	838	$1,200	$1.43	3d	1	0.37mi
2428 Eagle St New Orleans, LA	2.0	1.0	840	$1,425	$1.70	23d	1	0.37mi
2817 General Ogden St Unit 2819 New Orleans, LA	2.0	1.0	870	$1,200	$1.38	23d	1	0.37mi
8514 Forshey St New Orleans, LA	3.0	1.0	1030	$1,600	$1.55	23d	1	0.39mi
8841 S Claiborne Ave Unit C New Orleans, LA	1.0	1.0	575	$1,200	$2.09	23d	1	0.42mi
3316 Joliet St #18 New Orleans, LA	2.0	1.0	800	$1,400	$1.75	23d	1	0.43mi
2909 Hollygrove St New Orleans, LA	2.0	1.0	725	$995	$1.37	23d	1	0.45mi
3205 Fern St New Orleans, LA	2.0	1.0	938	$1,200	$1.28	21d	1	0.45mi
2915 Hollygrove St New Orleans, LA	1.0	1.0	725	$995	$1.37	21d	1	0.46mi
2022 Dante St New Orleans, LA	2.0	1.0	989	$1,300	$1.31	3d	1	0.47mi
7929 Forshey St New Orleans, LA	1.0	1.0	534	$1,200	$2.25	19d	1	0.47mi
7927 Forshey St New Orleans, LA	1.0	1.0	700	$1,200	$1.71	23d	1	0.47mi
3317 Short St New Orleans, LA	3.0	2.0	900	$1,600	$1.78	23d	1	0.49mi
8925 Colapissa St New Orleans, LA	2.0	1.0	700	$1,500	$2.14	21d	1	0.49mi
2933 Pine St Unit 2937 New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	23d	1	0.51mi
7931 Olive St New Orleans, LA	2.0	1.0	660	$1,175	$1.78	21d	1	0.53mi
2103 Fern St New Orleans, LA	2.0	1.0	920	$1,750	$1.90	3d	1	0.54mi
7728 Sycamore St Unit B New Orleans, LA	2.0	2.0	900	$1,750	$1.94	17d	1	0.55mi
7927 Spruce St Unit B New Orleans, LA	1.0	1.0	650	$1,350	$2.08	11d	1	0.56mi
7927 Spruce St Unit A New Orleans, LA	1.0	1.0	800	$1,595	$1.99	11d	1	0.56mi
8421 Cohn St New Orleans, LA	2.0	2.0	887	$1,750	$1.97	23d	1	0.56mi
8423 Cohn St New Orleans, LA	2.0	2.0	887	$1,700	$1.92	23d	1	0.56mi
9122 Nelson St New Orleans, LA	2.0	2.0	1100	$1,550	$1.41	23d	1	0.57mi
2432 Broadway St Unit C New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	17d	1	0.58mi

Listing history 6 events

1. 2026-06-03
   days on market $1,150 Active 11 DOM
2. 2026-06-02
   days on market $1,150 Active 10 DOM
3. 2026-06-01
   days on market $1,150 Active 9 DOM
4. 2026-05-31
   days on market $1,150 Active 8 DOM
5. 2026-05-23
   listed $1,150 Active

   Show marketing remark (419 chars)

   Recently renovated 2 bedroom/ 1 bath homeith open floor plan located in Carrollton. Newly refinished wood floors throughout with large closets in each bedroom. Ceiling fans throughout, fully equipped eat in kitchen featuring: granite, counter tops, stainless steel appliances; gas stove, microwave, refrigerator and dishwasher. Off street parking, central air/heat, washer/dryer. No pets allowed, tenant pays utilities.

6. 2026-05-23
   listed $1,150 Active 419-char remark

   Show marketing remark (419 chars)

   Recently renovated 2 bedroom/ 1 bath homeith open floor plan located in Carrollton. Newly refinished wood floors throughout with large closets in each bedroom. Ceiling fans throughout, fully equipped eat in kitchen featuring: granite, counter tops, stainless steel appliances; gas stove, microwave, refrigerator and dishwasher. Off street parking, central air/heat, washer/dryer. No pets allowed, tenant pays utilities.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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: $17,609
• − Mortgage interest: −$64
• − Property taxes: −$17
• − Insurance: −$803
• − Repairs & maintenance: −$1,409
• − Management: −$1,409
• − Depreciation: −$33
• Taxable income: $13,873
• Est. tax owed @ 24.0%: −$3,330
• After-tax cash flow: $9,689/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This recently renovated 2-bedroom/1-bath home in Carrollton features hardwood floors, granite countertops, and stainless steel appliances. It is in good condition with minor cosmetic updates and is ready for move-in.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and can increase both resale and rental value
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and can increase both resale and rental value ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 36,072
• Household income: $63,750
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 2237.0

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 0.65)
• Race & ethnicity: White 47% Black 34% Hispanic / Latino 11% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Italian 2% Romanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 86% English-only · Spanish 7% French/Haitian/Cajun 2% Other Indo-European 2%

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: ▼ -210.46%
• Current HPI: 282.9629
• Rent YoY: ▲ 0.97%
• 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

• 2026-05-23 Listed $1,150 AcadianaMLS
• 2026-05-23 Listed $1,150 GSREIN