1900 Evergreen Ave · New Orleans, LA 70114

$96,460

2 bd · 1.5 ba · 1,056 sqft · SingleFamily public records · 13 Days on market

Built 1940 3,963 sqft lot $91/sqft · 44% below area Est $173k · 44% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Opportunity awaits in this cozy two bedroom, one and a half bath home. Covered porch to enjoy morning coffee or an afternoon beverage. Work is required to make this home move in ready but could be worth the effort. Whether you decide to customize this home for yourself or rent it out, this house could be a great option.

Key facts

• Covered porch
• 3,963 sq ft lot
• Built 1940

Tags

• COVERED PORCH

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story; Shingle roof; Frame construction
• Construction: Built with frame construction
• Exterior features: City lot; Rectangular lot

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Average condition

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $96k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $96k).
• Cap rate 13.1% 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 (-0.7%/yr); 265 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• This rent runs 42% of the median local income ($43k/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 $667 of loan paydown is wiped out by about $3k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 30y 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 $427/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $96,460

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.59% ✓
• Cap rate: 13.10%
• Cash-on-cash: 24.30%
• DSCR: 2.08
• GRM: 5.2

CMA / ARV

• ARV (median comp): $173,474
• List price: $96,460
• Delta: -44.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1518 Leboeuf St	0.34mi	2/1.0	1,095 (+4%)	3mo	$15,000	$14	74
819 Hancock St	0.44mi	2/1.0	973 (-8%)	1mo	$150,000	$154	63
1410 Hendee St	0.54mi	3/2.5 (+1)	1,150 (+9%)	0mo	$90,000	$78	51
615 Perry St	0.49mi	2/2.0	1,198 (+13%)	4mo	$230,000	$192	50
930 Thayer St	0.64mi	2/1.0	966 (-8%)	6mo	$91,000	$94	49
1401 Nunez St	0.36mi	3/2.0 (+1)	1,213 (+15%)	8mo	$175,000	$144	44

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: -13.1%
• Equity multiple: 0.55×
• Total profit: $-12,174
• Equity at exit: $14,382

10-year hold

• IRR: -13.8%
• Equity multiple: 0.37×
• Total profit: $-16,960
• Equity at exit: $8,340

Cash invested: $27,009 (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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,536 high
• Mortgage (P&I): −$506
• Tax est. 1.5%: −$121 /mo · $1,447/yr
• Insurance: −$40
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $120

Break-even live

Break-even rent $1,384

Max offer price $96,460

Occupancy floor 87%

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: $24,115
• Closing costs: $2,894
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
718 Majestic Pl New Orleans, LA	3.0	2.0	1164	$1,785	$1.53	21d	1	0.28mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	43d	1	0.44mi
606 Drum St New Orleans, LA	3.0	2.0	1131	$2,350	$2.08	23d	1	0.51mi
1140 Teche St Apt B New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	23d	1	0.54mi
1510 Sumner St New Orleans, LA	2.0	1.0	950	$1,474	$1.55	16d	1	0.56mi
1136 Brooklyn Ave New Orleans, LA	3.0	1.0	913	$1,600	$1.75	23d	1	0.57mi
507 Newton St New Orleans, LA	2.0	2.0	1150	$1,400	$1.22	23d	1	0.61mi
731 Anson St Gretna, LA	1.0	1.0	750	$1,000	$1.33	43d	1	0.62mi
909 Atlantic Ave New Orleans, LA	2.0	1.0	741	$1,200	$1.62	23d	1	0.64mi
517 Burmaster St Gretna, LA	2.0	1.0	900	$1,600	$1.78	43d	1	0.64mi
1418 Behrman Ave New Orleans, LA	2.0	1.0	876	$1,400	$1.60	16d	1	0.65mi
435 Homer St New Orleans, LA	1.0	1.0	950	$1,100	$1.16	23d	1	0.69mi
1421 23 Numa St New Orleans, LA	3.0	2.0	861	$1,400	$1.63	14d	1	0.69mi
1421 23 Numa St New Orleans, LA	3.0	2.0	861	$1,400	$1.63	2d	1	0.69mi
1421 Numa St Unit 1421 New Orleans, LA	3.0	2.0	861	$1,400	$1.63	23d	1	0.69mi
1108 Sumner St New Orleans, LA	3.0	1.5	1197	$1,500	$1.25	11d	1	0.72mi
733 Elmira Ave New Orleans, LA	2.0	1.0	864	$1,100	$1.27	23d	1	0.75mi
740 Thayer Unit 2A New Orleans, LA	2.0	2.0	950	$1,350	$1.42	23d	1	0.77mi
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	3d	1	0.78mi
810 Whitney Ave New Orleans, LA	2.0	1.0	900	$1,250	$1.39	11d	1	0.79mi
1318 Monroe St Gretna, LA	2.0	1.0	1200	$1,595	$1.33	3d	1	0.82mi
1320 Monroe St Gretna, LA	2.0	2.0	1030	$2,000	$1.94	23d	1	0.82mi
625 Atlantic Ave New Orleans, LA	2.0	1.0	780	$1,400	$1.79	17d	1	0.83mi
620 Opelousas Ave Unit 103 New Orleans, LA	2.0	1.5	1000	$1,650	$1.65	3d	1	0.84mi
1625 Lauradale Dr New Orleans, LA	3.0	2.0	1029	$1,700	$1.65	3d	1	0.85mi
2243 Kraft Pl New Orleans, LA	2.0	1.0	865	$1,200	$1.39	23d	1	0.85mi
611 Pacific Ave New Orleans, LA	1.0	1.0	765	$1,799	$2.35	23d	1	0.85mi
601 Vallette St New Orleans, LA	2.0	1.0	815	$1,600	$1.96	3d	1	0.88mi
543 Atlantic Ave New Orleans, LA	2.0	2.5	1430	$2,200	$1.54	23d	1	0.89mi
724 Evelina St Unit B New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	17d	1	0.89mi
540 Pacific Ave New Orleans, LA	1.0	1.0	900	$1,200	$1.33	23d	1	0.89mi
537 Pacific Ave New Orleans, LA	2.0	1.0	750	$1,400	$1.87	3d	1	0.89mi
537 Pacific Ave New Orleans, LA	2.0	1.0	750	$1,400	$1.87	3d	1	0.89mi
1500 Madison St Unit 3 Gretna, LA	2.0	1.0	840	$1,100	$1.31	3d	1	0.93mi
1500 Madison St Unit 3 Gretna, LA	2.0	1.0	840	$1,100	$1.31	3d	1	0.93mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	3d	1	0.97mi
521 Bouny St New Orleans, LA	2.0	1.0	950	$1,400	$1.47	23d	1	0.97mi
519 Bouny St New Orleans, LA	2.0	1.0	950	$1,400	$1.47	23d	1	0.97mi
500 Powder St Unit B New Orleans, LA	2.0	1.0	1085	$1,600	$1.47	23d	1	0.98mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	23d	1	1.06mi

Listing history 20 events

1. 2026-06-18
   days on market $96,460 Active 13 DOM
2. 2026-06-17
   days on market $96,460 Active 12 DOM
3. 2026-06-16
   days on market $96,460 Active 11 DOM
4. 2026-06-15
   days on market $96,460 Active 10 DOM
5. 2026-06-13
   days on market $96,460 Active 8 DOM
6. 2026-06-10
   days on market $96,460 Active 5 DOM
7. 2026-06-09
   days on market $96,460 Active 4 DOM
8. 2026-06-08
   days on market $96,460 Active 3 DOM
9. 2026-06-07
   remarks 321-char remark
10. 2026-06-07
    statusdays on marketlisting id $96,460 Active 2 DOM
11. 2026-05-08
    listed $96,460 Active 318-char remark
12. 2026-05-08
    listed $96,460 Active 318-char remark
13. 2006-06-16
    soldstatus $95,000
14. 2006-06-16
    soldstatus $95,000
15. 2006-04-29
    listed $100,000
16. 2006-04-29
    listed $100,000
17. 1996-05-21
    soldstatus $54,000
18. 1996-05-15
    soldstatus $54,400
19. 1996-03-07
    listed $55,000
20. 1996-03-07
    listed $55,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 76% 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: $18,435
• − Mortgage interest: −$5,403
• − Property taxes: −$1,447
• − Insurance: −$5,601
• − Repairs & maintenance: −$1,475
• − Management: −$1,475
• − Depreciation: −$2,806
• Taxable income: $228
• Est. tax owed @ 24.0%: −$55
• After-tax cash flow: $1,391/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): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

+75.4% since first listed

11 events — show timeline

• 2026-06-05 Listed $96,460 GSREIN
• 2026-06-05 Listed $96,460 AcadianaMLS
• 2026-05-08 Listed $96,460 AcadianaMLS
• 2006-06-16 Sold (Public Records) $95,000 Public Records
• 2006-06-16 Sold (MLS) $95,000 GSREIN
• 2006-04-29 Listed $100,000 GSREIN
• 2006-04-29 Listed $100,000 AcadianaMLS
• 1996-05-21 Sold (Public Records) $54,000 Public Records
• 1996-05-15 Sold (MLS) $54,400 GSREIN
• 1996-03-07 Listed $55,000 GSREIN
• 1996-03-07 Listed $55,000 AcadianaMLS

Property tax history

-9.0%/yr

Latest (2026): $84 · -12.4% YoY. Source: county tax records.