2115 N Rocheblave St · New Orleans, LA 70119

$45,900

3 bd · 2.0 ba · 1,050 sqft · SingleFamily public records · 165 Days on market

Built 1960 4,356 sqft lot $44/sqft · 74% below area ↓ 46% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• 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

Excellent opportunity to own a 3-bedroom, 2-bath Cottage located just minutes from the French Quarter and Downtown CBD. This property offers strong upside potential in a highly desirable area. The home has experienced fire damage limited to a portion of the structure, with the remaining areas primarily affected by smoke damage. Property is situated in a secluded setting, providing added privacy while maintaining close proximity to dining, entertainment, and major employment centers. Ideal for investors, rehabbers, or owner-occupants looking to renovate and add value. Property is being sold as-is, where-is, with no repairs to be made by the seller.

Key facts

• French quarter
• Downtown cbd
• Cottage

Tags

• COTTAGE
• FRENCH QUARTER
• DOWNTOWN CBD
• SECLUDED SETTING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $765 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $46k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 28.0% 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.
• 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 21d 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 35% 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 $317 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y ago; this cycle's ask has dropped $4k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; 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 $40,392 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 3.40% ✓
• Cap rate: 28.03%
• Cash-on-cash: 77.62%
• DSCR: 4.45
• GRM: 2.5

CMA / ARV

• ARV (median comp): $176,353
• List price: $45,900
• Delta: -73.97%
• 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
2215 Mandeville St	0.37mi	3/2.0	1,067 (+2%)	3mo	$85,000	$80	78
1714 Aubry St	0.48mi	3/1.0	1,008 (-4%)	3mo	$73,000	$72	64
2227 D'abadie St	0.59mi	3/2.0	1,080 (+3%)	7mo	$215,000	$199	62
2037 Saint Anthony St	0.25mi	2/1.0 (-1)	960 (-9%)	4mo	$126,000	$131	62
1744 Duels St	0.52mi	3/1.0	1,141 (+9%)	1mo	$138,000	$121	57
2618 N Rocheblave St	0.57mi	3/2.0	1,168 (+11%)	1mo	$115,000	$98	54
1601 Mandeville St	0.66mi	3/1.0	1,118 (+6%)	2mo	$155,000	$139	53
2633 New Orleans St	0.35mi	3/1.0	925 (-12%)	12mo	$45,000	$49	50
2116 New Orleans St	0.37mi	2/2.0 (-1)	1,156 (+10%)	15mo	$90,000	$78	48
2436 Republic St	0.55mi	2/2.5 (-1)	1,157 (+10%)	8mo	$258,000	$223	44
2423 Arts St	0.61mi	2/1.0 (-1)	896 (-15%)	13mo	$95,000	$106	27
1714 N Broad St	0.75mi	2/3.0 (-1)	912 (-13%)	10mo	$245,000	$269	26

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: 67.2%
• Equity multiple: 3.86×
• Total profit: $36,820
• Equity at exit: $6,844

10-year hold

• IRR: 70.4%
• Equity multiple: 7.04×
• Total profit: $77,587
• Equity at exit: $3,969

Cash invested: $12,852 (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: 2.5×

Monthly cashflow live

• Estimated rent: $1,561 high
• Mortgage (P&I): −$241
• Tax from tax record: −$142 /mo · $1,701/yr
• Insurance: −$19
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $765

Break-even live

Break-even rent $592

Max offer price $45,900

Occupancy floor 46%

Sensitivity live

Price	-10% $791	-5% $778	+0% $765	+5% $752	+10% $739
Rent	-10% $642	-5% $703	+0% $765	+5% $827	+10% $888
Rate	-1.0pp $788	-0.5pp $777	base $765	+0.5pp $753	+1.0pp $741

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: $11,475
• Closing costs: $1,377
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3110 Pauger St New Orleans, LA	2.0	2.0	992	$1,300	$1.31	24d	1	0.05mi
2434 Saint Anthony St New Orleans, LA	2.0	1.0	768	$1,300	$1.69	15d	1	0.11mi
2432 Saint Anthony St New Orleans, LA	2.0	1.0	768	$1,300	$1.69	15d	1	0.11mi
2311 Saint Anthony St Unit 1A New Orleans, LA	2.0	1.0	1100	$1,450	$1.32	24d	1	0.11mi
2311 Saint Anthony St Unit 1B New Orleans, LA	2.0	1.0	750	$1,350	$1.80	24d	1	0.11mi
2510 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	3d	1	0.12mi
2510 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	4d	1	0.12mi
2514 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	3d	1	0.13mi
2514 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	4d	1	0.13mi
2239 Saint Anthony St New Orleans, LA	2.0	1.0	900	$1,100	$1.22	24d	1	0.14mi
2512 Elysian Fields Ave Unit 1 New Orleans, LA	2.0	1.0	879	$1,400	$1.59	17d	1	0.17mi
2512 Elysian Fields Ave Unit C New Orleans, LA	2.0	1.0	800	$1,300	$1.62	4d	1	0.17mi
2512 Elysian Fields Ave Unit C New Orleans, LA	2.0	1.0	800	$1,300	$1.62	3d	1	0.17mi
2338 Annette St Unit 1 New Orleans, LA	3.0	1.0	1150	$1,400	$1.22	20d	1	0.19mi
2048 Florida Ave New Orleans, LA	2.0	1.0	1200	$2,000	$1.67	17d	1	0.29mi
2115 Elysian Fields Ave Unit 2115 New Orleans, LA	3.0	1.0	1100	$1,450	$1.32	24d	1	0.30mi
1996 Hope St New Orleans, LA	3.0	1.0	910	$1,550	$1.70	4d	1	0.30mi
2817 Annette St New Orleans, LA	3.0	1.0	1100	$1,350	$1.23	24d	1	0.33mi
1922 Industry St Unit B New Orleans, LA	2.0	2.0	963	$1,325	$1.38	2d	1	0.36mi
2305 A P Tureaud Ave Unit 2307 A P Tureaud New Orleans, LA	3.0	2.0	700	$2,112	$3.02	24d	1	0.37mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	16d	1	0.38mi
1910 Elysian Fields Ave New Orleans, LA	3.0	1.0	1000	$1,450	$1.45	24d	1	0.39mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	24d	1	0.41mi
2024 Mandeville St New Orleans, LA	2.0	2.0	1072	$1,950	$1.82	24d	1	0.42mi
2109 A P Tureaud Ave New Orleans, LA	2.0	1.0	936	$1,450	$1.55	15d	1	0.43mi
1810 Touro St New Orleans, LA	2.0	1.0	700	$1,140	$1.63	24d	1	0.43mi
1776 N Miro St New Orleans, LA	2.0	1.0	700	$1,100	$1.57	24d	1	0.44mi
2129 Spain St New Orleans, LA	2.0	1.0	861	$1,500	$1.74	24d	1	0.45mi
2338 40 Annette St New Orleans, LA	3.0	1.0	1150	$1,385	$1.20	21d	1	0.45mi
2406 Saint Roch Ave New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	17d	1	0.45mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	24d	1	0.46mi
2152 Abundance St Unit A New Orleans, LA	3.0	1.0	800	$1,599	$2.00	4d	1	0.46mi
2152 Abundance St Unit 2152 New Orleans, LA	3.0	2.0	1100	$1,599	$1.45	4d	1	0.46mi
2325 Florida Ave New Orleans, LA	2.0	1.0	796	$1,025	$1.29	4d	1	0.47mi
2222 Saint Roch Ave New Orleans, LA	3.0	1.0	900	$1,200	$1.33	24d	1	0.47mi
2423 Saint Roch Ave New Orleans, LA	2.0	1.0	925	$1,350	$1.46	24d	1	0.49mi
2120 Saint Roch Ave Unit 2120 New Orleans, LA	2.0	1.0	1000	$1,650	$1.65	24d	1	0.49mi
2134 Saint Roch Ave New Orleans, LA	2.0	2.0	850	$1,500	$1.76	17d	1	0.49mi
2269 N Prieur St New Orleans, LA	2.0	1.0	756	$1,250	$1.65	24d	1	0.49mi
2310 George Nick Connor Dr New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	24d	1	0.50mi

Listing history 27 events

1. 2026-06-18
   days on market $45,900 Active 165 DOM
2. 2026-06-17
   days on market $45,900 Active 164 DOM
3. 2026-06-16
   days on market $45,900 Active 163 DOM
4. 2026-06-15
   days on market $45,900 Active 162 DOM
5. 2026-06-13
   days on market $45,900 Active 160 DOM
6. 2026-06-10
   days on market $45,900 Active 157 DOM
7. 2026-06-09
   days on market $45,900 Active 156 DOM
8. 2026-06-08
   days on market $45,900 Active 155 DOM
9. 2026-06-07
   days on market $45,900 Active 154 DOM
10. 2026-06-05
    days on market $45,900 Active 151 DOM
11. 2026-06-03
    days on market $45,900 Active 150 DOM
12. 2026-06-02
    days on market $45,900 Active 149 DOM
13. 2026-06-01
    days on market $45,900 Active 148 DOM
14. 2026-05-31
    days on market $45,900 Active 147 DOM
15. 2026-01-29
    price $45,900 655-char remark

    Show marketing remark (655 chars)

    Excellent opportunity to own a 3-bedroom, 2-bath Cottage located just minutes from the French Quarter and Downtown CBD. This property offers strong upside potential in a highly desirable area. The home has experienced fire damage limited to a portion of the structure, with the remaining areas primarily affected by smoke damage. Property is situated in a secluded setting, providing added privacy while maintaining close proximity to dining, entertainment, and major employment centers. Ideal for investors, rehabbers, or owner-occupants looking to renovate and add value. Property is being sold as-is, where-is, with no repairs to be made by the seller.

16. 2026-01-29
    price $45,900 655-char remark

    Show marketing remark (655 chars)

    Excellent opportunity to own a 3-bedroom, 2-bath Cottage located just minutes from the French Quarter and Downtown CBD. This property offers strong upside potential in a highly desirable area. The home has experienced fire damage limited to a portion of the structure, with the remaining areas primarily affected by smoke damage. Property is situated in a secluded setting, providing added privacy while maintaining close proximity to dining, entertainment, and major employment centers. Ideal for investors, rehabbers, or owner-occupants looking to renovate and add value. Property is being sold as-is, where-is, with no repairs to be made by the seller.

17. 2025-12-26
    listed $49,900 Active 655-char remark

    Show marketing remark (655 chars)

    Excellent opportunity to own a 3-bedroom, 2-bath Cottage located just minutes from the French Quarter and Downtown CBD. This property offers strong upside potential in a highly desirable area. The home has experienced fire damage limited to a portion of the structure, with the remaining areas primarily affected by smoke damage. Property is situated in a secluded setting, providing added privacy while maintaining close proximity to dining, entertainment, and major employment centers. Ideal for investors, rehabbers, or owner-occupants looking to renovate and add value. Property is being sold as-is, where-is, with no repairs to be made by the seller.

18. 2025-12-26
    listed $49,900 Active 655-char remark

    Show marketing remark (655 chars)

    Excellent opportunity to own a 3-bedroom, 2-bath Cottage located just minutes from the French Quarter and Downtown CBD. This property offers strong upside potential in a highly desirable area. The home has experienced fire damage limited to a portion of the structure, with the remaining areas primarily affected by smoke damage. Property is situated in a secluded setting, providing added privacy while maintaining close proximity to dining, entertainment, and major employment centers. Ideal for investors, rehabbers, or owner-occupants looking to renovate and add value. Property is being sold as-is, where-is, with no repairs to be made by the seller.

19. 2023-08-08
    price $175,000
20. 2023-07-01
    listed $175,000
21. 2023-01-30
    historical
22. 2022-12-22
    listed $109,900 Active
23. 2022-12-22
    listed $109,900
24. 2017-11-06
    historical
25. 2017-10-18
    status Under Contract
26. 2017-07-05
    listed $85,000 Active
27. 2017-07-05
    listed $85,000

ⓘ 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: $1,701 · $142/mo
• Projected year-2 tax: $1,701 · $142/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) · 78% 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: $18,727
• − Mortgage interest: −$2,571
• − Property taxes: −$1,701
• − Insurance: −$1,027
• − Repairs & maintenance: −$1,498
• − Management: −$1,498
• − Depreciation: −$1,335
• Taxable income: $9,097
• Est. tax owed @ 24.0%: −$2,183
• After-tax cash flow: $6,995/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

-46.0% since first listed

13 events — show timeline

• 2026-01-29 Price Changed $45,900 AcadianaMLS
• 2026-01-29 Price Changed $45,900 GBRMLS
• 2025-12-26 Listed $49,900 GBRMLS
• 2025-12-26 Listed $49,900 AcadianaMLS
• 2023-08-08 Price Changed $175,000 GSREIN
• 2023-07-01 Listed $175,000 AcadianaMLS
• 2023-01-30 Delisted — GBRMLS
• 2022-12-22 Listed $109,900 AcadianaMLS
• 2022-12-22 Listed $109,900 GBRMLS
• 2017-11-06 Listing Removed — GSREIN
• 2017-10-18 Pending — GSREIN
• 2017-07-05 Listed $85,000 GSREIN
• 2017-07-05 Listed $85,000 AcadianaMLS

Property tax history

+18.6%/yr

Latest (2026): $1,701 · +1.1% YoY. Source: county tax records.