1983 Law St · New Orleans, LA 70119

$169,900

2 bd · 1.0 ba · 877 sqft · SingleFamily public records · 34 Days on market

Built 1995 2,687 sqft lot Est $210k · 19% under

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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 +16.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to 1983 Law Street! This 4-bedroom, 2-bathroom residence offers 1,400 square feet of comfortable, carpet-free living -- ideal for allergy-sensitive households. Enjoy relaxing mornings on the charming front porch, and come home to the convenience of off-street parking. Inside, you'll find a functional layout with a versatile fourth bedroom perfect as a guest room, home office, or den. Situated in the heart of New Orleans' vibrant 7th Ward, this home sits directly across from a neighborhood park -- your own green space just steps from the front door. Located in Flood Zone X, no flood insurance is required, offering buyers valuable peace of mind and savings. With easy access to local dining, culture, and the energy that makes New Orleans one of a kind, 1983 Law Street is the perfect place to put down roots. Don't miss this one!

Key facts

• Front porch
• Flood zone x
• Off-street parking

Tags

• FRONT PORCH
• OFF-STREET PARKING
• FOURTH BEDROOM
• FLOOD ZONE X

Property features AI

Exterior

• Parking: Driveway; One off-street parking space
• Utilities: Public water; Public sewer
• Home design: Single-story; Entry level on raised foundation; Facing direction not specified; Property type not specified
• Construction: Brick veneer exterior; Asphalt shingle roof; Raised and slab foundation; Year built not specified
• Exterior features: City lot; Rectangular lot; Lot dimensions approximately 28 x 96

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: 9 total rooms; Average condition

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $32 ($384/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (12.3% below list).
• Recommended offer: $149k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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 soft (-0.2%/yr); 381 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 34% of the median local income ($53k/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 $5k 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 34 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $10k; list at $170k implies a 1599% 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 $148,932 (12.3% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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: 0.88% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.48%
• DSCR: 1.11
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $209,603
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2633 New Orleans St	0.05mi	3/1.0 (+1)	925 (+6%)	12mo	$45,000	$49	73
2317 Florida Ave	0.68mi	2/1.0	845 (-4%)	1mo	$64,900	$77	62
2037 Saint Anthony St	0.42mi	2/1.0	960 (+10%)	4mo	$126,000	$131	61
2115 Laharpe St	0.65mi	2/1.5	898 (+2%)	4mo	$249,900	$278	60
1714 N Broad St	0.48mi	2/3.0	912 (+4%)	10mo	$245,000	$269	55
1672 Rousselin Dr	0.51mi	1/1.0 (-1)	810 (-8%)	13mo	$260,000	$321	48
1714 Aubry St	0.52mi	3/1.0 (+1)	1,008 (+15%)	3mo	$73,000	$72	43
2810 O'reilly St	0.53mi	2/1.0	963 (+10%)	21mo	$274,000	$285	42
3311 Republic St	0.62mi	2/2.5	811 (-8%)	16mo	$168,000	$207	39
1548 N Roman St	0.72mi	2/2.0	940 (+7%)	21mo	$225,000	$239	33

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: -18.4%
• Equity multiple: 0.37×
• Total profit: $-29,854
• Equity at exit: $25,333

10-year hold

• IRR: -17.9%
• Equity multiple: 0.15×
• Total profit: $-40,223
• Equity at exit: $14,690

Cash invested: $47,572 (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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,489 high
• Mortgage (P&I): −$891
• Tax from tax record: −$116 /mo · $1,396/yr
• Insurance: −$71
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $32

Break-even live

Break-even rent $1,449

Max offer price $169,900

Occupancy floor 93%

Sensitivity live

Price	-10% $128	-5% $80	+0% $32	+5% $-16	+10% $-64
Rent	-10% $-86	-5% $-27	+0% $32	+5% $91	+10% $150
Rate	-1.0pp $118	-0.5pp $75	base $32	+0.5pp $-12	+1.0pp $-57

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1996 Hope St New Orleans, LA	3.0	1.0	910	$1,550	$1.70	5d	1	0.09mi
2514 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	5d	1	0.19mi
2514 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	5d	1	0.19mi
2305 A P Tureaud Ave Unit 2307 A P Tureaud New Orleans, LA	3.0	2.0	700	$2,112	$3.02	25d	1	0.19mi
2310 George Nick Connor Dr New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	25d	1	0.19mi
2510 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	5d	1	0.19mi
2510 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	5d	1	0.19mi
2432 Saint Anthony St New Orleans, LA	2.0	1.0	768	$1,300	$1.69	16d	1	0.20mi
2434 Saint Anthony St New Orleans, LA	2.0	1.0	768	$1,300	$1.69	16d	1	0.20mi
1922 Industry St Unit B New Orleans, LA	2.0	2.0	963	$1,325	$1.38	4d	1	0.23mi
1739 Duels St New Orleans, LA	2.0	1.0	768	$1,450	$1.89	25d	1	0.24mi
2817 Annette St New Orleans, LA	3.0	1.0	1100	$1,350	$1.23	25d	1	0.24mi
1737 Duels St New Orleans, LA	2.0	1.0	768	$1,450	$1.89	25d	1	0.24mi
3230 Pauger St New Orleans, LA	1.0	1.0	600	$1,200	$2.00	25d	1	0.25mi
1765 N Tonti St Unit 1767 New Orleans, LA	1.0	1.0	693	$1,295	$1.87	4d	1	0.26mi
3110 Pauger St New Orleans, LA	2.0	2.0	992	$1,300	$1.31	25d	1	0.27mi
2130 N Broad St Unit 1A New Orleans, LA	2.0	1.0	925	$1,500	$1.62	25d	1	0.27mi
2311 Saint Anthony St Unit 1A New Orleans, LA	2.0	1.0	1100	$1,450	$1.32	25d	1	0.28mi
2311 Saint Anthony St Unit 1B New Orleans, LA	2.0	1.0	750	$1,350	$1.80	25d	1	0.28mi
2239 Saint Anthony St New Orleans, LA	2.0	1.0	900	$1,100	$1.22	25d	1	0.28mi
1776 N Miro St New Orleans, LA	2.0	1.0	700	$1,100	$1.57	25d	1	0.29mi
2109 A P Tureaud Ave New Orleans, LA	2.0	1.0	936	$1,450	$1.55	16d	1	0.32mi
2741 Bruxelles St New Orleans, LA	2.0	1.0	732	$1,500	$2.05	5d	1	0.37mi
2741 Bruxelles St New Orleans, LA	2.0	1.0	732	$1,500	$2.05	5d	1	0.37mi
1818 Paul Morphy St Unit B New Orleans, LA	3.0	2.0	1065	$1,800	$1.69	25d	1	0.42mi
2632 Oreilly St New Orleans, LA	3.0	1.5	950	$1,450	$1.53	25d	1	0.44mi
2817 Paris Ave New Orleans, LA	3.0	1.0	1018	$1,700	$1.67	22d	1	0.45mi
2512 Elysian Fields Ave Unit C New Orleans, LA	2.0	1.0	800	$1,300	$1.62	5d	1	0.45mi
2512 Elysian Fields Ave Unit C New Orleans, LA	2.0	1.0	800	$1,300	$1.62	5d	1	0.45mi
2512 Elysian Fields Ave Unit 1 New Orleans, LA	2.0	1.0	879	$1,400	$1.59	19d	1	0.45mi
2910 Bruxelles St New Orleans, LA	3.0	2.0	1074	$1,600	$1.49	5d	1	0.46mi
2525 D'Abadie St Unit 2525 New Orleans, LA	2.0	1.0	1000	$1,500	$1.50	22d	1	0.46mi
2525 D'Abadie St New Orleans, LA	2.0	1.0	960	$1,400	$1.46	22d	1	0.46mi
1636 N Miro St New Orleans, LA	1.0	1.0	600	$1,295	$2.16	5d	1	0.50mi
1636 N Miro St New Orleans, LA	1.0	1.0	600	$1,295	$2.16	16d	1	0.50mi
1634 N Rocheblave St New Orleans, LA	2.0	1.0	900	$1,400	$1.56	25d	1	0.50mi
2025 N Johnson St New Orleans, LA	3.0	1.0	650	$1,350	$2.08	25d	1	0.50mi
1868 Benefit St New Orleans, LA	2.0	1.0	700	$1,100	$1.57	25d	1	0.50mi
3023 Bruxelles St New Orleans, LA	3.0	1.0	960	$2,200	$2.29	16d	1	0.50mi
1811 New Orleans St New Orleans, LA	2.0	2.0	900	$1,700	$1.89	5d	1	0.52mi

Listing history 22 events

1. 2026-06-21
   days on market $169,900 Active 34 DOM
2. 2026-06-18
   days on market $169,900 Active 31 DOM
3. 2026-06-17
   days on market $169,900 Active 30 DOM
4. 2026-06-16
   days on market $169,900 Active 29 DOM
5. 2026-06-15
   days on market $169,900 Active 28 DOM
6. 2026-06-13
   days on market $169,900 Active 26 DOM
7. 2026-06-10
   days on market $169,900 Active 23 DOM
8. 2026-06-09
   days on market $169,900 Active 22 DOM
9. 2026-06-08
   days on market $169,900 Active 21 DOM
10. 2026-06-07
    days on market $169,900 Active 20 DOM
11. 2026-06-05
    days on market $169,900 Active 17 DOM
12. 2026-06-03
    days on market $169,900 Active 16 DOM
13. 2026-06-02
    days on market $169,900 Active 15 DOM
14. 2026-06-01
    days on market $169,900 Active 14 DOM
15. 2026-05-31
    days on market $169,900 Active 13 DOM
16. 2026-05-16
    listed $169,900 Active

    Show marketing remark (849 chars)

    Welcome home to 1983 Law Street! This 4-bedroom, 2-bathroom residence offers 1,400 square feet of comfortable, carpet-free living -- ideal for allergy-sensitive households. Enjoy relaxing mornings on the charming front porch, and come home to the convenience of off-street parking. Inside, you'll find a functional layout with a versatile fourth bedroom perfect as a guest room, home office, or den. Situated in the heart of New Orleans' vibrant 7th Ward, this home sits directly across from a neighborhood park -- your own green space just steps from the front door. Located in Flood Zone X, no flood insurance is required, offering buyers valuable peace of mind and savings. With easy access to local dining, culture, and the energy that makes New Orleans one of a kind, 1983 Law Street is the perfect place to put down roots. Don't miss this one!

17. 2026-05-16
    listed $169,900 Active 849-char remark

    Show marketing remark (849 chars)

    Welcome home to 1983 Law Street! This 4-bedroom, 2-bathroom residence offers 1,400 square feet of comfortable, carpet-free living -- ideal for allergy-sensitive households. Enjoy relaxing mornings on the charming front porch, and come home to the convenience of off-street parking. Inside, you'll find a functional layout with a versatile fourth bedroom perfect as a guest room, home office, or den. Situated in the heart of New Orleans' vibrant 7th Ward, this home sits directly across from a neighborhood park -- your own green space just steps from the front door. Located in Flood Zone X, no flood insurance is required, offering buyers valuable peace of mind and savings. With easy access to local dining, culture, and the energy that makes New Orleans one of a kind, 1983 Law Street is the perfect place to put down roots. Don't miss this one!

18. 2026-02-06
    soldstatus $10,000
19. 2026-02-06
    soldstatus $10,000
20. 2026-02-06
    soldstatus $10,000
21. 2025-03-26
    listed $249,000 Active
22. 1982-12-10
    soldstatus $30,000

ⓘ 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: $1,396 · $116/mo
• Projected year-2 tax: $1,396 · $116/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) · 77% 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: $17,872
• − Mortgage interest: −$9,517
• − Property taxes: −$1,396
• − Insurance: −$1,647
• − Repairs & maintenance: −$1,430
• − Management: −$1,430
• − Depreciation: −$4,943
• Taxable loss: −$2,490
• Est. tax savings @ 24.0%: +$598
• After-tax cash flow: $982/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): 37,253
• Household income: $53,143
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3381.0

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 0.64)
• Race & ethnicity: Black 44% White 40% Two or more races 10% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 0%

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: ▼ -135.38%
• Current HPI: 253.1929
• Rent YoY: ▼ -0.20%
• 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

+466.3% since first listed

7 events — show timeline

• 2026-05-16 Listed $169,900 AcadianaMLS
• 2026-05-16 Listed $169,900 GSREIN
• 2026-02-06 Sold (Public Records) $10,000 Public Records
• 2026-02-06 Sold (Public Records) $10,000 Public Records
• 2026-02-06 Sold (Public Records) $10,000 Public Records
• 2025-03-26 Listed $249,000 AcadianaMLS
• 1982-12-10 Sold (Public Records) $30,000 Public Records

Property tax history

+20.3%/yr

Latest (2026): $1,396 · +1.1% YoY. Source: county tax records.