1625-B Mandeville St · New Orleans, LA 70117

$179,900

5 bd · 2.0 ba · 1,703 sqft · SingleFamily · 199 Days on market

Built 1980 Good condition $106/sqft · 47% below area Est $340k · 47% 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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +7.0/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +3.1/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is great for an owner occupied home. You can live in one unit and let the other cover your mortgage. In an area that is flourishing with tons of renovations, you can't go wrong with this purchase. The front unit has 2 bedrooms and one full bathroom, kitchen & more. The back unit has three bedrooms, 1 bathroom, kitchen, central air/heat & more. The owner updated all the wiring, most plumbing, and sheetrock in 2013. The home also has a newer roof. You can live minutes away from the St. Roch Market.

Key facts

• Updated wiring
• Newer roof
• Built 1980

Tags

• UPDATED WIRING
• NEWER ROOF
• MINUTES FROM ST ROCH MARKET

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $180k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 rising (+2.5%/yr); 643 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 66d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 94% of comp listings sitting > 30 days — soft ceiling on asking rent; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,166/mo this rent would consume 57% of the median local household income ($46k/yr) — 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 $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 199 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 12y 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 $125k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $158,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.20% ✓
• Cap rate: 9.41%
• Cash-on-cash: 11.14%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (median comp): $340,082
• List price: $179,900
• Delta: -47.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2138 Pauger St	0.40mi	4/2.0 (-1)	1,700 (-0%)	17mo	$70,000	$41	62
1607 Arts St	0.27mi	4/3.0 (-1)	1,907 (+12%)	8mo	$275,000	$144	52
2321 Annette St	0.70mi	4/2.0 (-1)	1,600 (-6%)	1mo	$243,500	$152	51
2534 Franklin Ave	0.75mi	4/2.0 (-1)	1,771 (+4%)	3mo	$50,000	$28	51
917 Franklin Ave	0.56mi	4/2.0 (-1)	1,912 (+12%)	3mo	$145,000	$76	46
1833 Saint Ferdinand St	0.55mi	4/2.5 (-1)	1,551 (-9%)	9mo	$130,000	$84	45
827 Port St	0.63mi	4/2.0 (-1)	1,837 (+8%)	12mo	$730,000	$397	42
1629 Pauger St	0.60mi	4/3.0 (-1)	1,589 (-7%)	12mo	$449,000	$283	42
1718 N Robertson St	0.50mi	5/2.0	1,459 (-14%)	14mo	$220,000	$151	41
1200 Saint Ferdinand St	0.51mi	6/3.0 (+1)	1,616 (-5%)	23mo	$149,000	$92	40
1919 N Prieur St	0.52mi	4/2.0 (-1)	1,945 (+14%)	10mo	$245,000	$126	39

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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-434
• Equity at exit: $26,824

10-year hold

• IRR: 8.9%
• Equity multiple: 1.67×
• Total profit: $33,624
• Equity at exit: $15,554

Cash invested: $50,372 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 9 active · 1 under contract
• Months of supply: 9.0 mo (11%/mo absorbed)
• Median asking: $199,999 ($126/sqft)
• Median days on market: 113 d
• This list price: 44% of active listings are priced below it
• ARV vs active asking: +58.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70117

• Rents YoY: 2.5%
• Active inventory: 643
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,166 high
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $468

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 73%

Sensitivity live

Price	-10% $592	-5% $530	+0% $468	+5% $406	+10% $343
Rent	-10% $297	-5% $382	+0% $468	+5% $553	+10% $639
Rate	-1.0pp $558	-0.5pp $513	base $468	+0.5pp $421	+1.0pp $374

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: $44,975
• Closing costs: $5,397
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	52d	1	0.36mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$6,144	$3.88	52d	2	0.43mi
2515 N Galvez St New Orleans, LA	4.0	2.0	1200	$1,200	$1.00	59d	1	0.47mi
2515 N Galvez St Unit 2515 New Orleans, LA	4.0	2.0	1200	$1,900	$1.58	72d	1	0.47mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	72d	1	0.57mi
632 Mandeville St Unit 2B New Orleans, LA	4.0	4.5	1337	$4,500	$3.37	66d	1	0.65mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$1,950	$1.22	20d	1	0.75mi
1418 Royal St Unit 1418 New Orleans, LA	4.0	2.0	1300	$2,450	$1.88	72d	1	0.76mi
5624-5626 Saint Claude ST New Orleans, LA	4.0	3.0	1521	$2,300	$1.51	72d	1	0.94mi
3016 Spain St New Orleans, LA	4.0	2.0	1313	$1,900	$1.45	41d	1	1.06mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	72d	1	1.12mi
811 Burgundy St New Orleans, LA	4.0	2.5	2059	$5,000	$2.43	93d	1	1.14mi
3021 Republic St New Orleans, LA	4.0	2.0	1125	$1,975	$1.76	41d	1	1.37mi
3021 Republic St New Orleans, LA	4.0	2.0	1125	$2,200	$1.96	72d	1	1.37mi
2739 Bay St Unit B New Orleans, LA	4.0	2.0	1400	$1,800	$1.29	69d	1	1.43mi
249 Vallette St New Orleans, LA	4.0	2.0	1734	$2,400	$1.38	30d	1	1.46mi
1003 N Dorgenois St New Orleans, LA	4.0	2.0	1750	$2,300	$1.31	41d	1	1.47mi

Listing history 15 events

1. 2025-11-11
   listed $179,900 Active 523-char remark

   Show marketing remark (519 chars)

   This home is great for an owner occupied home. You can live in one unit and let the other cover your mortgage. In an area that is flourishing with tons of renovations, you can't go wrong with this purchase. The front unit has 2 bedrooms and one full bathroom, kitchen & more. The back unit has three bedrooms, 1 bathroom, kitchen, central air/heat & more. The owner updated all the wiring, most plumbing, and sheetrock in 2013. The home also has a newer roof. You can live minutes away from the St. Roch Market.

2. 2025-11-11
   listed $179,900 Active 519-char remark

   Show marketing remark (519 chars)

   This home is great for an owner occupied home. You can live in one unit and let the other cover your mortgage. In an area that is flourishing with tons of renovations, you can't go wrong with this purchase. The front unit has 2 bedrooms and one full bathroom, kitchen & more. The back unit has three bedrooms, 1 bathroom, kitchen, central air/heat & more. The owner updated all the wiring, most plumbing, and sheetrock in 2013. The home also has a newer roof. You can live minutes away from the St. Roch Market.

3. 2025-01-03
   listed $199,900 Active
4. 2019-09-20
   soldstatus $125,000 Closed
5. 2019-08-26
   status Pending
6. 2019-08-23
   price $135,000
7. 2019-08-16
   status Active
8. 2019-08-07
   status Pending
9. 2019-08-01
   listed $135,000
10. 2019-08-01
    listed $149,900 Active
11. 2017-09-07
    listed $130,000
12. 2016-04-20
    listed $129,000
13. 2014-04-25
    soldstatus $21,000
14. 2014-02-17
    listed $30,000
15. 2014-02-17
    listed $30,000

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

Taxation est. · year 1

• Rental income: $25,990
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$2,079
• − Management: −$2,079
• − Depreciation: −$5,233
• Taxable income: $2,923
• Est. tax owed @ 24.0%: −$701
• After-tax cash flow: $4,911/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 · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $8,515–$25,545 screening

This single-family home is in good condition with recent updates, making it a great investment opportunity for both resale and rental.

Value-add opportunities

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace air conditioning unit — Modern AC improves comfort and energy efficiency ↑
• Both Install smart home devices — Enhances convenience and energy savings ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 22/100

Zoned Schools

Elementary Mary Bethune Elementary Literature/technology F LA #415/646 Nat'l #32,000/41,679

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

A Composite livability gradescore 81/100

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 · 513,025 people
• City population: 338,817
• Metro: New Orleans-Metairie, LA
• Population (ZIP): 25,652
• Household income: $45,764
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 13% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (60%)
• Race & ethnicity: Black 60% White 30% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 5% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 1%

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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: ▼ -177.22%
• Current HPI: 184.6061
• Rent YoY: ▲ 2.49%
• Metro: New Orleans-Metairie, LA
• State GDP YoY: ▲ 3.29%
• F500 in state: 10

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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

+499.7% since first listed

15 events — show timeline

• 2025-11-11 Listed $179,900 AcadianaMLS
• 2025-11-11 Listed $179,900 GSREIN
• 2025-01-03 Listed $199,900 AcadianaMLS
• 2019-09-20 Sold (MLS) $125,000 GSREIN
• 2019-08-26 Pending — GSREIN
• 2019-08-23 Price Changed $135,000 GSREIN
• 2019-08-16 Relisted — GSREIN
• 2019-08-07 Pending — GSREIN
• 2019-08-01 Listed $149,900 GSREIN
• 2019-08-01 Listed $135,000 AcadianaMLS
• 2017-09-07 Listed $130,000 AcadianaMLS
• 2016-04-20 Listed $129,000 AcadianaMLS
• 2014-04-25 Sold (MLS) $21,000 GSREIN
• 2014-02-17 Listed $30,000 AcadianaMLS
• 2014-02-17 Listed $30,000 GSREIN