2577 Holiday Dr · New Orleans, LA 70131

$200,000

4 bd · 2.5 ba · 3,467 sqft · SingleFamily public records · 172 Days on market

Built 1966 8,847 sqft lot $58/sqft · 34% below area Est $305k · 35% 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 +22.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Rent growth +0.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR ALERT: High-Potential 8-Bedroom Gem in Prime Location! Discover the extraordinary potential of this massive home, ideally situated in a great, highly sought-after neighborhood. This property is an investor's dream, offering large rooms and a flexible footprint ready for a complete transformation. Currently configured for maximum occupancy, the home features 9 bedrooms and 2 full kitchens, made possible by temporary wall installations. Prior to these modifications, the home was a spacious 4-bedroom residence, demonstrating its generous original layout. This is a blank canvas ready to be totally redone to your vision--whether you restore it to a grand single-family home or continue to capitalize on its multi rooms. For the savvy investor, this property is truly a gem, offering unparalleled space and opportunity in a fantastic community. Don't miss this chance to acquire a project with massive upside!

Key facts

• Flexible footprint
• 2 full kitchens
• Large rooms

Tags

• PRIME GRETNA LOCATION
• LARGE ROOMS
• FLEXIBLE FOOTPRINT
• 2 FULL KITCHENS
• SPACIOUS 4-BEDROOM RESIDENCE
• GENEROUS ORIGINAL LAYOUT

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 falling (-9.2%/yr); 275 active listings in the ZIP; 3 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).
• This rent runs 42% of the median local income ($62k/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 $6k 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 172 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago; this cycle's ask is 8991% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $110k; list at $200k implies a 82% 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 $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 172 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 1966 — 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. 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.
7. 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.
8. 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: 1.08% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.93%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (median comp): $305,431
• List price: $200,000
• Delta: -34.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.60×
• Total profit: $-22,306
• Equity at exit: $29,821

10-year hold

• IRR: -7.4%
• Equity multiple: 0.60×
• Total profit: $-22,571
• Equity at exit: $17,292

Cash invested: $56,000 (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 70131

• Home prices YoY: -12.0%
• Rents YoY: -9.2%
• Active inventory: 275
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,168 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$257 /mo · $3,081/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $257

Break-even live

Break-even rent $1,842

Max offer price $200,000

Occupancy floor 83%

Sensitivity live

Price	-10% $370	-5% $314	+0% $257	+5% $201	+10% $144
Rent	-10% $86	-5% $172	+0% $257	+5% $343	+10% $428
Rate	-1.0pp $358	-0.5pp $308	base $257	+0.5pp $205	+1.0pp $153

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2001 Saint Nick Dr New Orleans, LA	4.0	2.5	2400	$2,300	$0.96	25d	1	0.47mi
1825 Murl St New Orleans, LA	3.0	2.0	2484	$1,750	$0.70	25d	1	0.84mi
2741 Chelsea Dr New Orleans, LA	4.0	2.5	2382	$2,500	$1.05	17d	1	1.03mi

Listing history 28 events

1. 2026-06-21
   days on market $200,000 Active 172 DOM
2. 2026-06-18
   days on market $200,000 Active 169 DOM
3. 2026-06-17
   days on market $200,000 Active 168 DOM
4. 2026-06-16
   days on market $200,000 Active 167 DOM
5. 2026-06-15
   days on market $200,000 Active 166 DOM
6. 2026-06-13
   days on market $200,000 Active 164 DOM
7. 2026-06-10
   days on market $200,000 Active 161 DOM
8. 2026-06-09
   days on market $200,000 Active 160 DOM
9. 2026-06-08
   days on market $200,000 Active 159 DOM
10. 2026-06-07
    days on market $200,000 Active 158 DOM
11. 2026-06-05
    days on market $200,000 Active 155 DOM
12. 2026-06-03
    days on market $200,000 Active 154 DOM
13. 2026-06-02
    days on market $200,000 Active 153 DOM
14. 2026-06-01
    days on market $200,000 Active 152 DOM
15. 2026-05-31
    days on market $200,000 Active 151 DOM
16. 2026-02-25
    historical $2,200
17. 2026-01-31
    listed $2,200
18. 2026-01-25
    price $200,000 920-char remark

    Show marketing remark (925 chars)

    INVESTOR ALERT: High-Potential 8-Bedroom Gem in Prime Location! Discover the extraordinary potential of this massive home, ideally situated in a great, highly sought-after neighborhood. This property is an investor's dream, offering large rooms and a flexible footprint ready for a complete transformation. Currently configured for maximum occupancy, the home features 9 bedrooms and 2 full kitchens, made possible by temporary wall installations. Prior to these modifications, the home was a spacious 4-bedroom residence, demonstrating its generous original layout. This is a blank canvas ready to be totally redone to your vision—whether you restore it to a grand single-family home or continue to capitalize on its multi rooms. For the savvy investor, this property is truly a gem, offering unparalleled space and opportunity in a fantastic community. Don't miss this chance to acquire a project with massive upside!

19. 2026-01-25
    price $200,000 925-char remark

    Show marketing remark (925 chars)

    INVESTOR ALERT: High-Potential 8-Bedroom Gem in Prime Location! Discover the extraordinary potential of this massive home, ideally situated in a great, highly sought-after neighborhood. This property is an investor's dream, offering large rooms and a flexible footprint ready for a complete transformation. Currently configured for maximum occupancy, the home features 9 bedrooms and 2 full kitchens, made possible by temporary wall installations. Prior to these modifications, the home was a spacious 4-bedroom residence, demonstrating its generous original layout. This is a blank canvas ready to be totally redone to your vision—whether you restore it to a grand single-family home or continue to capitalize on its multi rooms. For the savvy investor, this property is truly a gem, offering unparalleled space and opportunity in a fantastic community. Don't miss this chance to acquire a project with massive upside!

20. 2025-12-29
    listed $215,000 Active 920-char remark

    Show marketing remark (925 chars)

    INVESTOR ALERT: High-Potential 8-Bedroom Gem in Prime Location! Discover the extraordinary potential of this massive home, ideally situated in a great, highly sought-after neighborhood. This property is an investor's dream, offering large rooms and a flexible footprint ready for a complete transformation. Currently configured for maximum occupancy, the home features 9 bedrooms and 2 full kitchens, made possible by temporary wall installations. Prior to these modifications, the home was a spacious 4-bedroom residence, demonstrating its generous original layout. This is a blank canvas ready to be totally redone to your vision—whether you restore it to a grand single-family home or continue to capitalize on its multi rooms. For the savvy investor, this property is truly a gem, offering unparalleled space and opportunity in a fantastic community. Don't miss this chance to acquire a project with massive upside!

21. 2025-12-29
    listed $215,000 Active 925-char remark

    Show marketing remark (925 chars)

    INVESTOR ALERT: High-Potential 8-Bedroom Gem in Prime Location! Discover the extraordinary potential of this massive home, ideally situated in a great, highly sought-after neighborhood. This property is an investor's dream, offering large rooms and a flexible footprint ready for a complete transformation. Currently configured for maximum occupancy, the home features 9 bedrooms and 2 full kitchens, made possible by temporary wall installations. Prior to these modifications, the home was a spacious 4-bedroom residence, demonstrating its generous original layout. This is a blank canvas ready to be totally redone to your vision—whether you restore it to a grand single-family home or continue to capitalize on its multi rooms. For the savvy investor, this property is truly a gem, offering unparalleled space and opportunity in a fantastic community. Don't miss this chance to acquire a project with massive upside!

22. 2018-03-01
    soldstatus $110,000 Sold
23. 2018-01-26
    historical Pending Continue to Show
24. 2017-11-30
    status Active
25. 2017-11-22
    historical Pending Continue to Show
26. 2017-11-10
    listed $145,000 Active
27. 2017-11-09
    listed $145,000
28. 1977-12-13
    soldstatus $75,000

ⓘ 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: $3,081 · $257/mo
• Projected year-2 tax: $3,081 · $257/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 9/10 Extreme 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: $26,013
• − Mortgage interest: −$11,203
• − Property taxes: −$3,081
• − Insurance: −$1,798
• − Repairs & maintenance: −$2,081
• − Management: −$2,081
• − Depreciation: −$5,818
• Taxable loss: −$49
• Est. tax savings @ 24.0%: +$12
• After-tax cash flow: $3,097/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): 25,151
• Household income: $62,389
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 707.0

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 0.57)
• Race & ethnicity: Black 62% White 20% Hispanic / Latino 11% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Dominican 2%
• Common ancestry: Lithuanian 4% Hispanic 1%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 9% Vietnamese 2% French/Haitian/Cajun 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: ▼ -28.08%
• Current HPI: 206.7552
• Rent YoY: ▼ -9.23%
• 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

-97.1% since first listed

13 events — show timeline

• 2026-02-25 Rental Removed $2,200 GSREIN
• 2026-01-31 Listed for Rent $2,200 GSREIN
• 2026-01-25 Price Changed $200,000 AcadianaMLS
• 2026-01-25 Price Changed $200,000 GSREIN
• 2025-12-29 Listed $215,000 GSREIN
• 2025-12-29 Listed $215,000 AcadianaMLS
• 2018-03-01 Sold (MLS) $110,000 GSREIN
• 2018-01-26 Contingent — GSREIN
• 2017-11-30 Relisted — GSREIN
• 2017-11-22 Contingent — GSREIN
• 2017-11-10 Listed $145,000 GSREIN
• 2017-11-09 Listed $145,000 AcadianaMLS
• 1977-12-13 Sold (Public Records) $75,000 Public Records

Property tax history

+18.1%/yr

Latest (2026): $3,081 · -1.5% YoY. Source: county tax records.