12420 Carmel Pl · New Orleans, LA 70128

$142,000

3 bd · 2.5 ba · 2,185 sqft · SingleFamily public records · 34 Days on market

Built 2004 7,000 sqft lot $65/sqft · 37% below area Est $225k · 37% under $21/mo HOA · 1% of rent ↓ 44% 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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +8.2/10.0
• 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

NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two and a half bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

Key facts

• 7,000 sq ft lot
• 2 parking spots
• Built 2004

Property features AI

Finance

• HOA & community: Lake Carmel Homeowners association; Annual HOA fee of $250

Exterior

• Parking: Attached 2-space parking
• Utilities: Public water; Public sewer
• Home design: 2 stories; Entry on main level
• Construction: Frame and stucco construction; Shingle roof; Slab foundation; Built with average condition
• Exterior features: Outside city limits; Rectangular lot

Interior

• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Average condition

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $142k.

Deal economics

• At list price, monthly cash flow is $310 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• Recommended offer: $138k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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: 105 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $982 of loan paydown is wiped out by about $4k 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 ($138k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago; this cycle's ask has dropped $44k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $137,740 (3.0% 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 3% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.32% ✓
• Cap rate: 9.47%
• Cash-on-cash: 11.35%
• DSCR: 1.50
• GRM: 6.3

CMA / ARV

• ARV (median comp): $224,526
• List price: $142,000
• Delta: -36.76%
• 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
12940 Chanelle Ct	0.24mi	4/2.0 (+1)	2,223 (+2%)	0mo	$185,000	$83	78
7140 Camberley Dr	0.67mi	3/2.0	2,200 (+1%)	2mo	$315,000	$143	64
12931 Parlange Ct	0.25mi	4/2.0 (+1)	2,086 (-4%)	14mo	$228,965	$110	62
7300 Briarheath Dr	0.38mi	4/2.5 (+1)	2,353 (+8%)	3mo	$247,500	$105	62
7230 Bullard Ave	0.42mi	4/2.5 (+1)	2,100 (-4%)	8mo	$297,000	$141	62
7350 Beauvoir Ct	0.25mi	3/2.0	1,974 (-10%)	15mo	$235,000	$119	58
7000 Edgefield Dr	0.66mi	4/2.5 (+1)	2,128 (-3%)	3mo	$220,000	$103	57
7470 Briarheath Dr	0.32mi	4/2.0 (+1)	2,376 (+9%)	11mo	$245,000	$103	54
6916 Camberley St	0.72mi	3/2.0	2,181 (-0%)	13mo	$175,000	$80	54
12141 E Barrington Dr	0.23mi	3/2.0	1,863 (-15%)	15mo	$192,000	$103	50
6940 Whitmore Pl	0.70mi	4/2.0 (+1)	2,088 (-4%)	5mo	$225,000	$108	48
5872 W Louis Prima Dr	0.70mi	4/2.5 (+1)	2,372 (+9%)	3mo	$220,000	$93	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-3,151
• Equity at exit: $21,173

10-year hold

• IRR: 7.7%
• Equity multiple: 1.58×
• Total profit: $23,233
• Equity at exit: $12,278

Cash invested: $39,760 (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 70128

• Home prices YoY: -5.9%
• Active inventory: 105
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,876 high
• Mortgage (P&I): −$745
• Tax from tax record: −$281 /mo · $3,376/yr
• Insurance: −$59
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$21
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $310

Break-even live

Break-even rent $1,484

Max offer price $142,000

Occupancy floor 78%

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: $35,500
• Closing costs: $4,260
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7501 Briarwood Dr New Orleans, LA	3.0	2.0	1500	$1,850	$1.23	23d	1	0.78mi
5754 Louis Prima Dr E New Orleans, LA	3.0	2.5	2069	$2,195	$1.06	23d	1	0.82mi
11040 Roger Dr Unit C New Orleans, LA	2.0	2.5	1505	$1,500	$1.00	23d	1	0.94mi
10951 Roger Dr Unit B New Orleans, LA	3.0	2.5	2048	$1,850	$0.90	23d	1	1.00mi
7505 Shorewood Blvd New Orleans, LA	4.0	2.0	1700	$1,800	$1.06	23d	1	1.36mi

HOA detail

• Monthly dues: $21 · $252/yr

Listing history 18 events

1. 2026-06-18
   days on market $142,000 Active 34 DOM
2. 2026-06-17
   days on market $142,000 Active 33 DOM
3. 2026-06-16
   pricedays on market $142,000 Active 32 DOM

   Show marketing remark (331 chars)

   NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two and a half bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

4. 2026-06-15
   days on market $159,100 Active 31 DOM
5. 2026-06-13
   days on market $159,100 Active 29 DOM
6. 2026-06-10
   days on market $159,100 Active 26 DOM
7. 2026-06-09
   days on market $159,100 Active 25 DOM
8. 2026-06-08
   days on market $159,100 Active 24 DOM
9. 2026-06-07
   days on market $159,100 Active 23 DOM
10. 2026-06-05
    days on market $159,100 Active 20 DOM
11. 2026-06-03
    days on market $159,100 Active 19 DOM
12. 2026-06-02
    days on market $159,100 Active 18 DOM
13. 2026-06-02
    price $159,100 Active 17 DOM
14. 2026-06-01
    days on market $185,500 Active 17 DOM

    Show marketing remark (331 chars)

    NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two and a half bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

15. 2026-05-31
    days on market $185,500 Active 16 DOM
16. 2026-05-15
    listed $185,500 Active 334-char remark

    Show marketing remark (331 chars)

    NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two and a half bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

17. 2026-05-15
    listed $185,500 Active 331-char remark

    Show marketing remark (331 chars)

    NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. Take a drive by this three bedroom, two and a half bath home and see if it may be your next investment. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

18. 2009-10-14
    listed $254,000

ⓘ 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: $3,376 · $281/mo
• Projected year-2 tax: $3,376 · $281/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) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $22,514
• − Mortgage interest: −$7,954
• − Property taxes: −$3,376
• − Insurance: −$1,508
• − Repairs & maintenance: −$1,801
• − Management: −$1,801
• − HOA: −$252
• − Depreciation: −$4,131
• Taxable income: $1,691
• Est. tax owed @ 24.0%: −$406
• After-tax cash flow: $3,308/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
• City population: 338,817
• Population (ZIP): 22,973

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: Predominantly Black (86%)
• Race & ethnicity: Black 86% Asian 5% White 4% Two or more races 3%
• Foreign-born: 4% · Vietnam, Canada
• Languages at home: 95% English-only · Vietnamese 4% Spanish 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: ▼ -15.51%
• Current HPI: 247.7131
• Rent YoY: —
• Metro: —
• 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

-44.1% since first listed

7 events — show timeline

• 2026-06-16 Price Changed $142,000 AcadianaMLS
• 2026-06-16 Price Changed $142,000 GSREIN
• 2026-06-01 Price Changed $159,100 AcadianaMLS
• 2026-06-01 Price Changed $159,100 GSREIN
• 2026-05-15 Listed $185,500 GSREIN
• 2026-05-15 Listed $185,500 AcadianaMLS
• 2009-10-14 Listed $254,000 GSREIN

Property tax history

+2.4%/yr

Latest (2026): $3,376 · +1.0% YoY. Source: county tax records.