2320 Allen St · New Orleans, LA 70119

$260,000

3 bd · 2.0 ba · 2,204 sqft · SingleFamily public records · 107 Days on market

Built 1952 4,116 sqft lot $118/sqft · at area comps Est $248k · at est.

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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 +18.3/30.0
• DSCR +5.7/10.0
• ARV discount +5.3/15.0
• Livability +4.0/5.0
• 1% rule +3.6/10.0
• 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

* * * Sellers offering $4,000 concession * * * Welcome to your newly remodeled 3-bed 3-bath home, with plenty of off-street parking. Gutted completely to reveal your most elegant touches of luxury, including quartz countertops, a large ceramic kitchen sink, 3 FULL lavish baths — accented with floor-to-ceiling ceramic tile, 2 spacious walk-in showers, and a sleek freestanding tub to find your spa-level retreat. Your primary bath also features an LED-lit oversized mirror, along with a double vanity. With an open-concept kitchen flowing into the living area, entertaining family and friends has never been easier. Upstairs, you'll find a versatile bonus loft that can be used for additional storage/closet space, a bedroom, an office, or, if you will, a dressing room and/or beauty room. HVAC system has been completely updated, new water heater, roof is only 5 years old, and all new plumbing. While enjoying all of your interior spaces, your outside oasis is here. Step into your massive, fully fenced backyard to make all of your outdoor hobbies and gatherings a reality. Home is located near the French Quarter (only 2 miles away!); popular eateries and shopping complexes are also nearby. * * * Investors take note: this home is conveniently located only 10 minutes away from the University Medical Center, along with also just being minutes away from the LSU Health Center, Xavier, Canal, and the French Quarter. With simple modifications, this home can easily be converted into a duplex, if need be, unlocking excellent income potential! * * * The owner is a licensed real estate agent. (Agent/Owner). Property is listed by the owner.

Key facts

• Quartz countertops
• Freestanding tub
• 4,116 sq ft lot

Tags

• QUARTZ COUNTERTOPS
• LARGE CERAMIC KITCHEN SINK
• FLOOR TO CEILING CERAMIC TILE
• SPACIOUS WALK IN SHOWERS
• FREESTANDING TUB
• LED LIT OVERSIZED MIRROR

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/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 $224k (13.7% below list).
• Recommended offer: $224k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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.
• 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 25d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,245/mo this rent would consume 51% of the median local household income ($53k/yr) (locally 3381% 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 $2k of loan paydown is wiped out by about $8k 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 107 days — a 9% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $60k; list at $260k implies a 333% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1952 — 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 $224,458 (13.7% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.86% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 9.7

CMA / ARV

• ARV (median comp): $247,788
• List price: $260,000
• Delta: 4.93%
• 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
1723 N Tonti St	0.32mi	3/2.0	2,020 (-8%)	2mo	$169,000	$84	69
1989 Law St	0.18mi	3/2.5	2,004 (-9%)	10mo	$325,000	$162	66
1616 N Johnson St	0.43mi	4/3.0 (+1)	2,258 (+2%)	1mo	$380,000	$168	66
1448 N Galvez St	0.66mi	3/2.0	2,303 (+4%)	4mo	$725,000	$315	59
1919 N Prieur St	0.32mi	4/2.0 (+1)	1,945 (-12%)	8mo	$245,000	$126	54
1743 N Dorgenois St	0.40mi	3/2.5	1,925 (-13%)	6mo	$420,000	$218	53
1457 N Prieur St	0.65mi	3/2.0	2,370 (+8%)	6mo	$100,000	$42	52
2815 A P Tureaud Ave	0.41mi	3/3.0	2,461 (+12%)	7mo	$261,500	$106	52
1614 N Dupre St	0.69mi	4/3.0 (+1)	2,230 (+1%)	8mo	$590,000	$265	50
1508 N Roman St	0.61mi	3/3.0	2,049 (-7%)	11mo	$430,000	$210	47
1461 N Robertson St	0.74mi	4/3.5 (+1)	2,100 (-5%)	1mo	$353,000	$168	46
1426 N Derbigny St	0.75mi	3/3.0	2,016 (-8%)	15mo	$465,000	$231	34

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: -15.0%
• Equity multiple: 0.48×
• Total profit: $-37,981
• Equity at exit: $38,767

10-year hold

• IRR: -11.8%
• Equity multiple: 0.38×
• Total profit: $-44,916
• Equity at exit: $22,480

Cash invested: $72,800 (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: 9.7×

Monthly cashflow live

• Estimated rent: $2,245 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$65 /mo · $782/yr
• Insurance: −$108
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $170

Break-even live

Break-even rent $2,030

Max offer price $260,000

Occupancy floor 87%

Sensitivity live

Price	-10% $317	-5% $243	+0% $170	+5% $96	+10% $23
Rent	-10% $-8	-5% $81	+0% $170	+5% $258	+10% $347
Rate	-1.0pp $301	-0.5pp $236	base $170	+0.5pp $102	+1.0pp $34

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	45d	1	0.13mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	25d	1	0.22mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	25d	1	0.31mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	25d	1	0.31mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	17d	1	0.38mi
2130 N Broad St New Orleans, LA	2.0	1.0	1579	$1,350	$0.85	25d	1	0.41mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	25d	1	0.45mi
2175 N Broad St New Orleans, LA	2.0	1.0	1500	$1,500	$1.00	17d	1	0.47mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	4d	1	0.49mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	25d	1	0.61mi
1434 Annette St New Orleans, LA	2.0	1.0	1536	$1,700	$1.11	4d	1	0.63mi
1434 Annette St New Orleans, LA	2.0	1.0	1536	$1,700	$1.11	4d	1	0.63mi
2331 Columbus St New Orleans, LA	3.0	1.0	1976	$1,850	$0.94	25d	1	0.64mi
2422 Columbus St New Orleans, LA	2.0	2.0	1550	$2,500	$1.61	22d	1	0.68mi
1823 Rosiere St New Orleans, LA	2.0	1.0	1400	$1,450	$1.04	25d	1	0.72mi
1821 Rosiere St New Orleans, LA	2.0	1.0	1400	$1,300	$0.93	25d	1	0.72mi
1901 Gentilly Blvd New Orleans, LA	3.0	2.5	2205	$4,000	$1.81	45d	1	0.79mi
2228 Arts St New Orleans, LA	3.0	2.0	2270	$1,675	$0.74	4d	1	0.83mi
1423 N Villere St Unit A New Orleans, LA	2.0	3.0	1964	$2,500	$1.27	45d	1	0.84mi
1433 Esplanade Ave New Orleans, LA	3.0	2.0	2411	$5,000	$2.07	3d	1	0.85mi
2664 Lepage St New Orleans, LA	3.0	2.0	1750	$2,725	$1.56	45d	1	0.86mi
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	45d	1	0.89mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	45d	1	0.89mi
1466 N White St New Orleans, LA	3.0	1.5	1500	$2,250	$1.50	4d	1	0.89mi
1136 Frenchmen St New Orleans, LA	2.0	1.0	1800	$1,650	$0.92	25d	1	0.90mi
3607 Havana St New Orleans, LA	3.0	2.0	1693	$1,488	$0.88	18d	1	0.97mi
1910 N Rampart St New Orleans, LA	2.0	1.0	1450	$1,995	$1.38	4d	1	1.00mi
1928 Franklin Ave New Orleans, LA	2.0	2.5	2840	$2,500	$0.88	11d	1	1.00mi
1239 Saint Roch Ave New Orleans, LA	2.0	2.0	1500	$2,150	$1.43	4d	1	1.05mi
1860 Burgundy St New Orleans, LA	4.0	4.0	3000	$3,500	$1.17	25d	1	1.05mi
1301 N Rampart St New Orleans, LA	2.0	2.0–2.5	2929	$7,750	$2.65	21d	2	1.07mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	1.08mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	1.08mi
3024 Esplanade Ave New Orleans, LA	3.0	2.5	2300	$4,500	$1.96	45d	1	1.10mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$2,165	$1.37	4d	2	1.10mi
2731 Saint Philip St Unit 2733 New Orleans, LA	4.0	2.0	2000	$2,600	$1.30	25d	1	1.11mi
3702 Trafalgar St New Orleans, LA	3.0	2.0	1428	$2,350	$1.65	17d	1	1.12mi
2320 N Rampart St New Orleans, LA	3.0	3.0	2317	$3,700	$1.60	45d	1	1.12mi
1022 Barracks St New Orleans, LA	1.0–2.0	1.0–2.0	1233	$4,400	$3.57	45d	1	1.12mi
914 N Broad St New Orleans, LA	2.0	2.0	1450	$2,200	$1.52	25d	1	1.14mi

Listing history 3 events

1. 2026-02-10
   listed $260,000 Active 1659-char remark

   Show marketing remark (1659 chars)

   * * * Sellers offering $4,000 concession * * * Welcome to your newly remodeled 3-bed 3-bath home, with plenty of off-street parking. Gutted completely to reveal your most elegant touches of luxury, including quartz countertops, a large ceramic kitchen sink, 3 FULL lavish baths — accented with floor-to-ceiling ceramic tile, 2 spacious walk-in showers, and a sleek freestanding tub to find your spa-level retreat. Your primary bath also features an LED-lit oversized mirror, along with a double vanity. With an open-concept kitchen flowing into the living area, entertaining family and friends has never been easier. Upstairs, you'll find a versatile bonus loft that can be used for additional storage/closet space, a bedroom, an office, or, if you will, a dressing room and/or beauty room. HVAC system has been completely updated, new water heater, roof is only 5 years old, and all new plumbing. While enjoying all of your interior spaces, your outside oasis is here. Step into your massive, fully fenced backyard to make all of your outdoor hobbies and gatherings a reality. Home is located near the French Quarter (only 2 miles away!); popular eateries and shopping complexes are also nearby. * * * Investors take note: this home is conveniently located only 10 minutes away from the University Medical Center, along with also just being minutes away from the LSU Health Center, Xavier, Canal, and the French Quarter. With simple modifications, this home can easily be converted into a duplex, if need be, unlocking excellent income potential! * * * The owner is a licensed real estate agent. (Agent/Owner). Property is listed by the owner.

2. 2026-02-09
   listed $260,000 Active 1632-char remark

   Show marketing remark (1632 chars)

   ***Sellers offering $4,000 concession*** Welcome to your newly remodeled 3-bed 3-bath home, with plenty of off-street parking. Gutted completely to reveal your most elegant touches of luxury, including quartz countertops, a large ceramic kitchen sink, 3 FULL lavish baths -- accented with floor-to-ceiling ceramic tile, 2 spacious walk-in showers, and a sleek freestanding tub to find your spa-level retreat. Your primary bath also features an LED-lit oversized mirror, along with a double vanity. With an open-concept kitchen flowing into the living area, entertaining family and friends has never been easier. Upstairs, you'll find a versatile bonus loft that can be used for additional storage/closet space, a bedroom, an office, or, if you will, a dressing room and/or beauty room. HVAC system has been completely updated, new water heater, roof is only 5 years old, and all new plumbing. While enjoying all of your interior spaces, your outside oasis is here. Step into your massive, fully fenced backyard to make all of your outdoor hobbies and gatherings a reality. Home is located near the French Quarter (only 2 miles away!); popular eateries and shopping complexes are also nearby. ***Investors take note: this home is conveniently located only 10 minutes away from the University Medical Center, along with also just being minutes away from the LSU Health Center, Xavier, Canal, and the French Quarter. With simple modifications, this home can easily be converted into a duplex, if need be, unlocking excellent income potential!***The owner is a licensed real estate agent. (Agent/Owner). Property is listed by the owner.

3. 2024-11-26
   soldstatus $60,000

ⓘ 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: $782 · $65/mo
• Projected year-2 tax: $1,430 · $119/mo
• Expected delta: +$648/yr (+$54/mo · 82.8%)

ⓘ 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: $26,935
• − Mortgage interest: −$14,564
• − Property taxes: −$782
• − Insurance: −$2,098
• − Repairs & maintenance: −$2,155
• − Management: −$2,155
• − Depreciation: −$7,564
• Taxable loss: −$2,382
• Est. tax savings @ 24.0%: +$572
• After-tax cash flow: $2,609/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

+333.3% since first listed

3 events — show timeline

• 2026-02-10 Listed $260,000 GBRMLS
• 2026-02-09 Listed $260,000 AcadianaMLS
• 2024-11-26 Sold (Public Records) $60,000 Public Records

Property tax history

-2.6%/yr

Latest (2026): $782 · -62.0% YoY. Source: county tax records.