1320 Mendez St · New Orleans, LA 70122

$242,500

3 bd · 2.0 ba · 2,098 sqft · SingleFamily public records · 40 Days on market

Built 1965 Est $478k · 49% 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 +26.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +6.7/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Home needs repair, excellent location, elevation to flood line.

Key facts

• Built 1965
• Listed 40 days

Tags

• ELEVATION TO FLOOD LINE

Property features AI

Exterior

• Home design: Built in 1965
• Construction: Original construction completed in 1965
• Exterior features: Located in the Filmore subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $242k.

Deal economics

• At list price, monthly cash flow is $585 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $242k).
• Recommended offer: $235k (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.
• 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 soft (-0.6%/yr); 336 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,846/mo this rent would consume 69% of the median local household income ($49k/yr) (locally 2150% 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 $7k 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 40 days — a 3% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 32y 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.

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 $235,225 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — 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. 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: 1.17% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.52%
• DSCR: 1.51
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $478,344
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1349 Prentiss Ave	0.11mi	4/3.0 (+1)	2,115 (+1%)	3mo	$475,000	$225	82
5924 St Bernard Ave	0.25mi	3/2.0	2,224 (+6%)	1mo	$280,600	$126	78
1448 Aviators St	0.40mi	3/2.5	2,207 (+5%)	1mo	$537,500	$244	70
4737 Bancroft Dr	0.61mi	3/2.5	2,160 (+3%)	1mo	$223,500	$103	64
5025 Saint Bernard Ave	0.41mi	3/2.5	2,302 (+10%)	1mo	$365,000	$159	62
6027 Pratt Dr	0.70mi	3/2.5	2,056 (-2%)	1mo	$511,500	$249	62
1608 Lisbon St	0.71mi	3/2.0	2,019 (-4%)	1mo	$460,000	$228	59
1537 Prentiss Ave	0.33mi	4/3.0 (+1)	2,311 (+10%)	2mo	$582,000	$252	58
1373 Madrid St	0.35mi	4/2.5 (+1)	2,356 (+12%)	2mo	$565,000	$240	55
1758 Burbank Dr	0.63mi	4/3.0 (+1)	2,185 (+4%)	1mo	$548,000	$251	54
5835 Chamberlain Drive Dr	0.50mi	3/2.5	1,793 (-14%)	2mo	$320,000	$178	49
5122 Pratt Dr	0.69mi	3/2.0	1,798 (-14%)	2mo	$286,800	$160	43

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: -4.2%
• Equity multiple: 0.85×
• Total profit: $-10,328
• Equity at exit: $36,158

10-year hold

• IRR: 1.7%
• Equity multiple: 1.10×
• Total profit: $6,912
• Equity at exit: $20,967

Cash invested: $67,900 (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 70122

• Rents YoY: -0.6%
• Active inventory: 336
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,846 high
• Mortgage (P&I): −$1,272
• Tax from tax record: −$224 /mo · $2,687/yr
• Insurance: −$101
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$598
• Net cashflow: $585

Break-even live

Break-even rent $2,105

Max offer price $242,500

Occupancy floor 74%

Sensitivity live

Price	-10% $722	-5% $654	+0% $585	+5% $517	+10% $448
Rent	-10% $360	-5% $473	+0% $585	+5% $698	+10% $810
Rate	-1.0pp $707	-0.5pp $647	base $585	+0.5pp $522	+1.0pp $458

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: $60,625
• Closing costs: $7,275
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5532 Saint Bernard Ave New Orleans, LA	4.0	4.0	2907	$5,000	$1.72	45d	1	0.07mi
5024 Paris Ave New Orleans, LA	4.0	3.0	2116	$3,000	$1.42	17d	1	0.51mi
5900 Chatham Dr New Orleans, LA	3.0	2.0	1864	$2,500	$1.34	4d	1	0.53mi
4727 Saint Bernard Ave New Orleans, LA	3.0	2.0	2000	$2,000	$1.00	17d	1	0.59mi
5716 Warrington Dr New Orleans, LA	4.0	3.0	1560	$2,000	$1.28	18d	1	0.70mi
4815 Warrington Dr New Orleans, LA	3.0	2.0	1652	$2,150	$1.30	17d	1	0.90mi
1903 Rosary Dr New Orleans, LA	3.0	2.0	1500	$1,800	$1.20	25d	1	0.94mi
1486 Mandolin St New Orleans, LA	3.0	2.0	1497	$1,900	$1.27	4d	1	0.96mi
1940 Allen Toussaint Blvd New Orleans, LA	3.0	2.0	1500	$1,550	$1.03	12d	1	1.02mi
1940 Allen Toussaint Blvd Unit 1940 New Orleans, LA	3.0	2.0	1500	$1,600	$1.07	25d	1	1.02mi
4111 Jumonville St New Orleans, LA	3.0	2.5	1543	$2,300	$1.49	12d	1	1.04mi
6079 Saint Anthony Ave New Orleans, LA	3.0	2.0	1400	$2,400	$1.71	17d	1	1.05mi
6838 Orleans Ave New Orleans, LA	3.0	2.0	1568	$2,400	$1.53	25d	1	1.11mi
6010 Pasteur Blvd New Orleans, LA	4.0	3.0	2010	$2,600	$1.29	18d	1	1.11mi
6946 Orleans Ave New Orleans, LA	3.0	2.5	1600	$2,150	$1.34	17d	1	1.11mi
6817 General Haig St New Orleans, LA	3.0	2.5	2281	$3,200	$1.40	45d	1	1.15mi
6749 General Haig St New Orleans, LA	3.0	3.0	2650	$2,600	$0.98	45d	1	1.16mi
6217 Curie St New Orleans, LA	3.0	2.0	1700	$1,500	$0.88	25d	1	1.18mi
958 Allen Toussaint Blvd New Orleans, LA	3.0	2.5	2200	$2,600	$1.18	25d	1	1.20mi
808 Allen Toussaint Blvd New Orleans, LA	3.0	2.0	1866	$2,550	$1.37	45d	1	1.41mi
6431 Marshal Foch St New Orleans, LA	3.0	2.0	1600	$2,100	$1.31	4d	1	1.42mi

Listing history 28 events

1. 2026-06-21
   days on market $242,500 Active 40 DOM
2. 2026-06-18
   days on market $242,500 Active 37 DOM
3. 2026-06-17
   days on market $242,500 Active 36 DOM
4. 2026-06-16
   days on market $242,500 Active 35 DOM
5. 2026-06-15
   days on market $242,500 Active 34 DOM
6. 2026-06-13
   days on market $242,500 Active 32 DOM
7. 2026-06-10
   days on market $242,500 Active 29 DOM
8. 2026-06-09
   days on market $242,500 Active 28 DOM
9. 2026-06-08
   days on market $242,500 Active 27 DOM
10. 2026-06-07
    days on market $242,500 Active 26 DOM
11. 2026-06-05
    days on market $242,500 Active 23 DOM
12. 2026-06-03
    days on market $242,500 Active 22 DOM
13. 2026-06-02
    days on market $242,500 Active 21 DOM
14. 2026-06-01
    days on market $242,500 Active 20 DOM
15. 2026-05-31
    days on market $242,500 Active 19 DOM
16. 2026-05-12
    listed $242,500 Active 63-char remark
17. 2024-12-26
    listed $289,000 Active
18. 2024-03-07
    price $289,000
19. 2023-09-22
    listed $289,000
20. 2021-05-26
    soldstatus $227,000
21. 2014-05-07
    soldstatus $130,000
22. 2014-05-02
    soldstatus $130,000
23. 2014-03-20
    listed $149,900
24. 2014-03-20
    listed $149,900
25. 1994-09-23
    soldstatus $131,500
26. 1994-09-23
    soldstatus $131,500
27. 1994-04-22
    listed $139,000
28. 1994-04-22
    listed $139,000

ⓘ 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: $2,687 · $224/mo
• Projected year-2 tax: $2,687 · $224/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) · 75% 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: $34,151
• − Mortgage interest: −$13,584
• − Property taxes: −$2,687
• − Insurance: −$2,010
• − Repairs & maintenance: −$2,732
• − Management: −$2,732
• − Depreciation: −$7,055
• Taxable income: $3,352
• Est. tax owed @ 24.0%: −$805
• After-tax cash flow: $6,218/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): 35,253
• Household income: $49,455
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 2150.0

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: Predominantly Black (69%)
• Race & ethnicity: Black 69% White 18% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 4% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 1% 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: ▼ -222.37%
• Current HPI: 231.9921
• Rent YoY: ▼ -0.61%
• 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

+74.5% since first listed

13 events — show timeline

• 2026-05-12 Listed $242,500 FSBO.com
• 2024-12-26 Listed $289,000 AcadianaMLS
• 2024-03-07 Price Changed $289,000 GSREIN
• 2023-09-22 Listed $289,000 AcadianaMLS
• 2021-05-26 Sold (Public Records) $227,000 Public Records
• 2014-05-07 Sold (Public Records) $130,000 Public Records
• 2014-05-02 Sold (MLS) $130,000 GSREIN
• 2014-03-20 Listed $149,900 AcadianaMLS
• 2014-03-20 Listed $149,900 GSREIN
• 1994-09-23 Sold (Public Records) $131,500 Public Records
• 1994-09-23 Sold (MLS) $131,500 GSREIN
• 1994-04-22 Listed $139,000 GSREIN
• 1994-04-22 Listed $139,000 AcadianaMLS

Property tax history

+1.4%/yr

Latest (2026): $2,687 · +1.1% YoY. Source: county tax records.