1108 Sumner St · New Orleans, LA 70114

$150,000

3 bd · 1.5 ba · 1,200 sqft · SingleFamily public records · 9 Days on market

Built 1975 4,321 sqft lot $125/sqft · at area comps Est $154k · at est.

---

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 +25.0/30.0
• ARV discount +8.7/15.0
• DSCR +8.2/10.0
• 1% rule +6.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-In Ready Algiers Cottage Priced to Sell at Just $150,000! Qualifies for 100% Financing & Down Payment Assistance Programs! <br><br> Why rent when you can own? This beautifully maintained 3-bedroom, 1.5-bath cottage offers an incredible opportunity for first-time homebuyers, investors, or anyone looking to build wealth through homeownership. <br><br> Step inside to discover a bright and inviting interior featuring updated flooring, neutral finishes, and a spacious living area filled with natural light. The renovated kitchen boasts granite countertops, rich wood cabinetry, Energy Star appliances, and plenty of workspace for everyday living and entertaining. <br><br> The thoughtfully designed floor plan includes three comfortable bedrooms and updated bathrooms with stylish finishes and marble accents. Outside, enjoy a large fully fenced backyard with plenty of room for pets, gardening, outdoor gatherings, or future improvements. <br><br> Located in desirable Flood Zone X, this home offers affordability without sacrificing comfort or location. <br><br> Even better: The property is currently equipped with window units for heating and cooling, and the seller is willing to assist with the costs toward installation of a central HVAC system with an acceptable offer. <br><br> This is an ideal starter home and a smart long-term investment. Live in the property for a year, build equity, then convert it into an income-producing rental while purchasing your next home--a proven strategy for creating long-term wealth through real estate. <br><br>

Key facts

• Off street parking
• Renovated bathrooms
• Refreshed kitchen

Tags

• REFRESHED KITCHEN
• PRIVATE FULLY FENCED BACKYARD
• OFF STREET PARKING
• RENOVATED BATHROOMS
• ENERGY STAR APPLIANCES

Property features AI

Exterior

• Parking: Driveway; Off-street parking; Three or more parking spaces
• Security: Closed-circuit camera(s)
• Utilities: Public water; Public sewer
• Home design: Single-story; Shingle roof; Vinyl siding; Raised foundation; Property in excellent condition
• Construction: Vinyl siding construction; Shingle roof; Raised foundation; Built on a 0.0992-acre lot
• Exterior features: Fence; City lot with rectangular shape (32 x 135)

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; ENERGY STAR qualified appliances
• Bedrooms: Total rooms: 9
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Has heating with multiple heating units and window unit; Has cooling with attic fan and window unit(s)
• Interior features: Attic; Ceiling fan(s); Granite counters; Pull-down attic stairs; Smart home features

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.9% 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 (-0.7%/yr); 265 active listings in the ZIP; 40 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 $1,651/mo this rent would consume 46% of the median local household income ($43k/yr) (locally 2240% 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 20 sale attempts since 16y 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 $73k; list at $150k implies a 104% 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 $150,000

Questions for the listing agent

1. Built in 1975 — 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: 1.10% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.35%
• DSCR: 1.42
• GRM: 7.6

CMA / ARV

• ARV (median comp): $154,275
• List price: $150,000
• Delta: 0.47%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1410 Hendee St	0.24mi	3/2.5	1,150 (-4%)	0mo	$90,000	$78	78
1056 Farragut St	0.24mi	3/1.0	1,279 (+7%)	1mo	$85,000	$66	75
2024 Lamarque St	0.13mi	3/2.0	1,350 (+12%)	6mo	$151,500	$112	66
1327 Shirley Dr	0.39mi	3/2.0	1,274 (+6%)	6mo	$70,000	$55	65
250 Wagner St	0.64mi	3/2.0	1,174 (-2%)	7mo	$212,000	$181	58
1518 Leboeuf St	0.39mi	2/1.0 (-1)	1,095 (-9%)	3mo	$15,000	$14	58
1240 Merrill St	0.72mi	3/1.0	1,192 (-1%)	9mo	$150,000	$126	56
613 Pacific Ave	0.65mi	2/1.0 (-1)	1,246 (+4%)	2mo	$215,000	$173	55
1416 Pace Blvd	0.67mi	3/1.0	1,118 (-7%)	1mo	$140,000	$125	54
1513 Shirley Dr	0.51mi	3/1.0	1,341 (+12%)	2mo	$185,000	$138	52
1623 Shirley Dr	0.62mi	2/2.0 (-1)	1,275 (+6%)	8mo	$70,000	$55	46
532 Elmira Ave	0.71mi	2/2.0 (-1)	1,300 (+8%)	1mo	$350,000	$269	46

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: -8.4%
• Equity multiple: 0.70×
• Total profit: $-12,505
• Equity at exit: $22,365

10-year hold

• IRR: -3.3%
• Equity multiple: 0.81×
• Total profit: $-8,082
• Equity at exit: $12,969

Cash invested: $42,000 (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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,651 high
• Mortgage (P&I): −$787
• Tax from tax record: −$128 /mo · $1,535/yr
• Insurance: −$62
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $261

Break-even live

Break-even rent $1,321

Max offer price $150,000

Occupancy floor 79%

Sensitivity live

Price	-10% $346	-5% $303	+0% $261	+5% $218	+10% $176
Rent	-10% $130	-5% $196	+0% $261	+5% $326	+10% $391
Rate	-1.0pp $336	-0.5pp $299	base $261	+0.5pp $222	+1.0pp $182

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1108 Sumner St New Orleans, LA	3.0	1.5	1197	$1,500	$1.25	12d	1	0.03mi
810 Whitney Ave New Orleans, LA	2.0	1.0	900	$1,250	$1.39	12d	1	0.25mi
1418 Behrman Ave New Orleans, LA	2.0	1.0	876	$1,400	$1.60	16d	1	0.27mi
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	4d	1	0.28mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	4d	1	0.28mi
1421 Numa St Unit 1421 New Orleans, LA	3.0	2.0	861	$1,400	$1.63	24d	1	0.29mi
1510 Sumner St New Orleans, LA	2.0	1.0	950	$1,474	$1.55	16d	1	0.31mi
1421 23 Numa St New Orleans, LA	3.0	2.0	861	$1,400	$1.63	2d	1	0.32mi
1421 23 Numa St New Orleans, LA	3.0	2.0	861	$1,400	$1.63	15d	1	0.32mi
740 Thayer Unit 2A New Orleans, LA	2.0	2.0	950	$1,350	$1.42	24d	1	0.38mi
909 Atlantic Ave New Orleans, LA	2.0	1.0	741	$1,200	$1.62	24d	1	0.48mi
1625 Lauradale Dr New Orleans, LA	3.0	2.0	1029	$1,700	$1.65	4d	1	0.52mi
625 Atlantic Ave New Orleans, LA	2.0	1.0	780	$1,400	$1.79	17d	1	0.56mi
718 Majestic Pl New Orleans, LA	3.0	2.0	1164	$1,785	$1.53	22d	1	0.57mi
335 Whitney Ave New Orleans, LA	2.0	1.0	1100	$1,575	$1.43	24d	1	0.58mi
543 Atlantic Ave New Orleans, LA	2.0	2.5	1430	$2,200	$1.54	24d	1	0.59mi
733 Elmira Ave New Orleans, LA	2.0	1.0	864	$1,100	$1.27	24d	1	0.62mi
537 Pacific Ave New Orleans, LA	2.0	1.0	750	$1,400	$1.87	4d	1	0.65mi
537 Pacific Ave New Orleans, LA	2.0	1.0	750	$1,400	$1.87	3d	1	0.65mi
606 Drum St New Orleans, LA	3.0	2.0	1131	$2,350	$2.08	24d	1	0.70mi
724 Evelina St Unit B New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	17d	1	0.75mi
620 Opelousas Ave Unit 103 New Orleans, LA	2.0	1.5	1000	$1,650	$1.65	3d	1	0.76mi
507 Newton St New Orleans, LA	2.0	2.0	1150	$1,400	$1.22	24d	1	0.77mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	24d	1	0.78mi
601 Vallette St New Orleans, LA	2.0	1.0	815	$1,600	$1.96	3d	1	0.79mi
1200 Southlawn Blvd New Orleans, LA	3.0	2.0	950	$1,725	$1.82	24d	1	0.80mi
325 Elmira Ave Unit 325 New Orleans, LA	3.0	1.5	1050	$1,525	$1.45	24d	1	0.81mi
1140 Teche St Apt B New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	24d	1	0.84mi
1719 Pace Blvd New Orleans, LA	3.0	1.0	1178	$2,000	$1.70	12d	1	0.84mi
329 Belleville St New Orleans, LA	2.0	1.0	1014	$1,500	$1.48	24d	1	0.85mi
2243 Kraft Pl New Orleans, LA	2.0	1.0	865	$1,200	$1.39	24d	1	0.86mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	2d	1	0.86mi
400 Park Blvd Unit A New Orleans, LA	4.0	1.5	1275	$2,200	$1.73	24d	1	0.87mi
1565 Murl St Unit B New Orleans, LA	2.0	2.0	1100	$1,100	$1.00	24d	1	0.88mi
1136 Brooklyn Ave New Orleans, LA	3.0	1.0	913	$1,600	$1.75	24d	1	0.90mi
3000 Americus St New Orleans, LA	3.0	2.0	1280	$1,400	$1.09	24d	1	0.95mi
3102 Lawrence St New Orleans, LA	2.0	1.0	950	$1,500	$1.58	24d	1	0.96mi
119 Vallette St New Orleans, LA	3.0	2.5	1500	$2,100	$1.40	24d	1	0.99mi
519 Bouny St New Orleans, LA	2.0	1.0	950	$1,400	$1.47	24d	1	1.01mi
521 Bouny St New Orleans, LA	2.0	1.0	950	$1,400	$1.47	24d	1	1.01mi

Listing history 46 events

1. 2026-06-18
   days on market $150,000 Active 9 DOM
2. 2026-06-17
   days on market $150,000 Active 8 DOM
3. 2026-06-16
   days on market $150,000 Active 7 DOM
4. 2026-06-15
   days on market $150,000 Active 6 DOM
5. 2026-06-13
   days on market $150,000 Active 4 DOM
6. 2026-06-10
   remarks 695-char remark
7. 2026-06-10
   pricedays on marketlisting id $150,000 Active 1 DOM
8. 2026-06-05
   days on market $155,000 Active 179 DOM
9. 2026-06-03
   days on market $155,000 Active 178 DOM
10. 2026-06-02
    days on market $155,000 Active 177 DOM
11. 2026-06-01
    days on market $155,000 Active 176 DOM
12. 2026-05-31
    days on market $155,000 Active 175 DOM
13. 2026-05-20
    listed $1,500
14. 2026-01-26
    price $155,000 796-char remark
15. 2026-01-26
    price $155,000 1006-char remark
16. 2025-12-06
    listed $159,000 Active 796-char remark
17. 2025-12-06
    listed $159,000 Active 1006-char remark
18. 2025-08-31
    listed $159,900 Active
19. 2025-07-12
    price $169,000
20. 2025-07-12
    price $169,000
21. 2025-03-31
    listed $179,900 Active
22. 2023-11-22
    historical $1,850
23. 2023-08-04
    price $199,900
24. 2023-07-18
    listed $1,850
25. 2023-06-01
    listed $199,900
26. 2022-08-16
    price $219,900
27. 2022-08-08
    price $229,900
28. 2022-08-08
    listed $219,900
29. 2022-06-20
    listed $229,900
30. 2017-06-13
    soldstatus $73,472
31. 2017-06-09
    soldstatus $73,472 Sold
32. 2017-04-21
    historical Pending Continue to Show
33. 2017-04-18
    listed $72,500 Active
34. 2017-04-17
    listed $72,500
35. 2017-03-31
    historical
36. 2016-12-06
    listed $87,500 Active
37. 2016-12-01
    listed $87,500
38. 2016-04-05
    historical
39. 2016-01-06
    listed $43,500 Active
40. 2016-01-06
    listed $43,500
41. 2014-11-13
    listed $58,900
42. 2014-11-13
    listed $58,900
43. 2010-02-22
    listed $97,500
44. 2010-02-22
    listed $97,500
45. 1992-03-17
    soldstatus $10,000
46. 1991-08-26
    soldstatus $26,045

ⓘ 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: $1,535 · $128/mo
• Projected year-2 tax: $1,535 · $128/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: $19,812
• − Mortgage interest: −$8,402
• − Property taxes: −$1,535
• − Insurance: −$1,547
• − Repairs & maintenance: −$1,585
• − Management: −$1,585
• − Depreciation: −$4,364
• Taxable income: $794
• Est. tax owed @ 24.0%: −$190
• After-tax cash flow: $2,939/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): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% 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: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

-94.3% since first listed

36 events — show timeline

• 2026-06-09 Price Changed $1,475 GSREIN
• 2026-06-09 Listed $150,000 GSREIN
• 2026-06-09 Listed $150,000 AcadianaMLS
• 2026-05-20 Listed for Rent $1,500 GSREIN
• 2026-01-26 Price Changed $155,000 AcadianaMLS
• 2026-01-26 Price Changed $155,000 GSREIN
• 2025-12-06 Listed $159,000 AcadianaMLS
• 2025-08-31 Listed $159,900 AcadianaMLS
• 2025-07-12 Price Changed $169,000 AcadianaMLS
• 2025-07-12 Price Changed $169,000 GSREIN
• 2025-03-31 Listed $179,900 AcadianaMLS
• 2023-11-22 Rental Removed $1,850 GSREIN
• 2023-08-04 Price Changed $199,900 GSREIN
• 2023-07-18 Listed for Rent $1,850 GSREIN
• 2023-06-01 Listed $199,900 AcadianaMLS
• 2022-08-16 Price Changed $219,900 GSREIN
• 2022-08-08 Price Changed $229,900 GSREIN
• 2022-08-08 Listed $219,900 AcadianaMLS
• 2022-06-20 Listed $229,900 AcadianaMLS
• 2017-06-13 Sold (Public Records) $73,472 Public Records
• 2017-06-09 Sold (MLS) $73,472 GSREIN
• 2017-04-21 Contingent — GSREIN
• 2017-04-18 Listed $72,500 GSREIN
• 2017-04-17 Listed $72,500 AcadianaMLS
• 2017-03-31 Listing Removed — GSREIN
• 2016-12-06 Listed $87,500 GSREIN
• 2016-12-01 Listed $87,500 AcadianaMLS
• 2016-04-05 Listing Removed — GSREIN
• 2016-01-06 Listed $43,500 GSREIN
• 2016-01-06 Listed $43,500 AcadianaMLS
• 2014-11-13 Listed $58,900 GSREIN
• 2014-11-13 Listed $58,900 AcadianaMLS
• 2010-02-22 Listed $97,500 GSREIN
• 2010-02-22 Listed $97,500 AcadianaMLS
• 1992-03-17 Sold (Public Records) $10,000 Public Records
• 1991-08-26 Sold (Public Records) $26,045 Public Records

Property tax history

+2.3%/yr

Latest (2026): $1,535 · +0.0% YoY. Source: county tax records.