812 Wagner St #1 · New Orleans, LA 70114

$200,000

3 bd · 2.0 ba · 1,900 sqft · SingleFamily · 36 Days on market

Built 1977 Poor condition $105/sqft · 12% below area Est $227k · 12% 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 +21.9/30.0
• ARV discount +12.9/15.0
• DSCR +7.0/10.0
• 1% rule +5.7/10.0
• Livability +4.0/5.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Key facts

• 3 parking spots
• Built 1977
• Listed 36 days

Property features AI

Exterior

• Parking: Three or more parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story; Raised foundation
• Construction: Wood siding; Asphalt roof
• Exterior features: City lot; Rectangular lot; Lot dimensions approximately 85 x 127

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Six total rooms; Very good condition

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $247 ($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: $194k (3.0% 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.
• 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 25d 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).
• At $2,146/mo this rent would consume 59% of the median local household income ($43k/yr) (locally 2240% 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 $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 36 days — a 3% lower offer ($194k) 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.

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 $194,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.07% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.71%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

• ARV (median comp): $227,301
• List price: $200,000
• Delta: -12.01%
• 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
624 Wagner St	0.13mi	3/2.5	1,938 (+2%)	10mo	$385,000	$199	80
519 Leboeuf St	0.28mi	3/2.0	1,871 (-2%)	7mo	$59,000	$32	79
935 Belleville St	0.56mi	3/2.0	1,847 (-3%)	2mo	$370,000	$200	68
820 Eliza St	0.56mi	3/3.0	1,900 (0%)	9mo	$359,000	$189	62
422 Red Allen Way	0.74mi	3/2.0	1,800 (-5%)	1mo	$440,000	$244	56
415 Vallette St	0.68mi	3/2.0	1,700 (-10%)	2mo	$379,000	$223	49
529 Thayer St	0.32mi	2/2.5 (-1)	2,126 (+12%)	12mo	$552,000	$260	48
1439 Lauradale Dr	0.64mi	2/2.0 (-1)	1,813 (-5%)	11mo	$206,500	$114	48
423 Diana St	0.74mi	4/2.0 (+1)	1,958 (+3%)	10mo	$389,000	$199	47
313 Atlantic Ave	0.53mi	4/3.0 (+1)	2,112 (+11%)	3mo	$500,000	$237	45
509 Olivier St	0.69mi	3/3.0	2,148 (+13%)	5mo	$390,000	$182	38
117 Hubbell Rd W	0.57mi	4/3.5 (+1)	2,102 (+11%)	12mo	$530,000	$252	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: -11.6%
• Equity multiple: 0.59×
• Total profit: $-22,912
• Equity at exit: $29,821

10-year hold

• IRR: -7.8%
• Equity multiple: 0.58×
• Total profit: $-23,726
• 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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,146 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $247

Break-even live

Break-even rent $1,834

Max offer price $200,000

Occupancy floor 84%

Sensitivity live

Price	-10% $385	-5% $316	+0% $247	+5% $178	+10% $108
Rent	-10% $77	-5% $162	+0% $247	+5% $331	+10% $416
Rate	-1.0pp $347	-0.5pp $298	base $247	+0.5pp $195	+1.0pp $142

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	4d	1	0.12mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	4d	1	0.14mi
543 Atlantic Ave New Orleans, LA	2.0	2.5	1430	$2,200	$1.54	24d	1	0.42mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	24d	1	0.44mi
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	17d	1	0.46mi
1402 Behrman Ave New Orleans, LA	2.0	1.0	1673	$1,500	$0.90	24d	1	0.46mi
729 Elmira Ave New Orleans, LA	4.0	2.0	2000	$2,000	$1.00	17d	1	0.50mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	24d	1	0.59mi
433 Homer St Unit 1 New Orleans, LA	4.0	2.0	1570	$1,850	$1.18	24d	1	0.74mi
249 Vallette St New Orleans, LA	4.0	2.0	1734	$2,500	$1.44	17d	1	0.75mi
119 Vallette St New Orleans, LA	3.0	2.5	1500	$2,100	$1.40	24d	1	0.81mi
1684 Lauradale Dr New Orleans, LA	4.0	2.0	1571	$2,000	$1.27	24d	1	0.81mi
513 Park Blvd New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	4d	1	0.83mi
400 Park Blvd Unit A New Orleans, LA	4.0	1.5	1275	$2,200	$1.73	24d	1	0.90mi
323 Morgan St Unit G New Orleans, LA	2.0	2.5	1700	$2,500	$1.47	44d	1	0.99mi
323 Morgan St Apt E New Orleans, LA	2.0	2.5	2000	$3,600	$1.80	44d	1	0.99mi
323 Morgan St New Orleans, LA	2.0	2.5	2000	$3,600	$1.80	18d	1	0.99mi
323 Morgan St Unit C New Orleans, LA	2.0	2.0	2000	$3,200	$1.60	44d	1	0.99mi
3900 Royal St Unit 2A New Orleans, LA	2.0	2.0	1300	$3,000	$2.31	4d	1	1.01mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	3d	1	1.03mi
3431 Chartres St #6 New Orleans, LA	2.0	2.5	1262	$2,750	$2.18	15d	1	1.03mi
2320 Mardi Gras Blvd New Orleans, LA	4.0	2.5	1600	$2,500	$1.56	2d	1	1.05mi
740 Mazant St New Orleans, LA	2.0	2.0	1750	$2,200	$1.26	24d	1	1.07mi
1774 Pace Blvd New Orleans, LA	4.0	2.5	1574	$2,000	$1.27	24d	1	1.11mi
3000 Americus St New Orleans, LA	3.0	2.0	1280	$1,400	$1.09	24d	1	1.13mi
1825 Murl St New Orleans, LA	3.0	2.0	2484	$1,750	$0.70	24d	1	1.15mi
619 Reynes St New Orleans, LA	3.0	2.0	1318	$2,100	$1.59	17d	1	1.19mi
522 Montegut St New Orleans, LA	1.0–2.0	1.0–2.0	1256	$3,500	$2.79	3d	12	1.19mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	44d	1	1.21mi
617 Forstall St New Orleans, LA	3.0	2.0	1262	$2,200	$1.74	4d	1	1.22mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	24d	1	1.28mi
1119 Bartholomew St Unit 1119 New Orleans, LA	2.0	2.0	1410	$2,500	$1.77	44d	1	1.34mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	24d	1	1.42mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	24d	1	1.46mi
2 Canal St #2008 New Orleans, LA	2.0	2.5	1533	$9,000	$5.87	4d	1	1.48mi
2 Canal St #2008 New Orleans, LA	2.0	2.5	1533	$9,300	$6.07	17d	1	1.48mi
1034 Montegut St Unit 1034 New Orleans, LA	2.0	2.0	1415	$3,400	$2.40	44d	1	1.49mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	44d	1	1.49mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	24d	1	1.49mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $200,000 Active 36 DOM
2. 2026-06-17
   days on market $200,000 Active 35 DOM
3. 2026-06-16
   days on market $200,000 Active 34 DOM
4. 2026-06-15
   days on market $200,000 Active 33 DOM
5. 2026-06-13
   days on market $200,000 Active 31 DOM
6. 2026-06-10
   days on market $200,000 Active 28 DOM
7. 2026-06-09
   days on market $200,000 Active 27 DOM
8. 2026-06-08
   days on market $200,000 Active 26 DOM
9. 2026-06-07
   days on market $200,000 Active 25 DOM
10. 2026-06-05
    days on market $200,000 Active 22 DOM
11. 2026-06-03
    days on market $200,000 Active 21 DOM
12. 2026-06-02
    days on market $200,000 Active 20 DOM
13. 2026-06-01
    days on market $200,000 Active 19 DOM
14. 2026-05-31
    days on market $200,000 Active 18 DOM
15. 2026-01-09
    listed $200,000 Active
16. 2026-01-09
    listed $200,000 Active

ⓘ 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 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: $25,752
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,798
• − Repairs & maintenance: −$2,060
• − Management: −$2,060
• − Depreciation: −$5,818
• Taxable loss: −$187
• Est. tax savings @ 24.0%: +$45
• After-tax cash flow: $3,005/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.

Condition & rehab AI · 14 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to improve its condition and increase its value. Immediate attention to the exterior siding, interior walls, kitchen, bathroom, HVAC system, and landscaping is recommended.

Repairs flagged

• Major exterior siding — damaged and weathered
• Major interior walls — paint chipped and worn
• Major kitchen appliances — outdated and cluttered
• Major bathroom fixtures — outdated and cluttered
• Major HVAC system — outdated and possibly inefficient
• Major landscaping — overgrown yard and cluttered exterior

Value-add opportunities

• Both exterior siding repair — improves curb appeal and value
• Both interior paint — enhances interior aesthetics and value
• Both kitchen appliances — modernizes and increases value
• Both bathroom fixtures — modernizes and increases value
• Both HVAC system — increases comfort and energy efficiency
• Both landscaping — enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · damaged and weathered	Major	$15,000–50,000
interior walls · paint chipped and worn	Major	$15,000–50,000
kitchen appliances · outdated and cluttered	Major	$15,000–50,000
bathroom fixtures · outdated and cluttered	Major	$15,000–50,000
HVAC system · outdated and possibly inefficient	Major	$15,000–50,000
landscaping · overgrown yard and cluttered exterior	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both exterior siding repair — improves curb appeal and value ↑
• Both interior paint — enhances interior aesthetics and value ↑
• Both kitchen appliances — modernizes and increases value ↑
• Both bathroom fixtures — modernizes and increases value ↑
• Both HVAC system — increases comfort and energy efficiency ↑
• Both landscaping — enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+0.0% since first listed

2 events — show timeline

• 2026-01-09 Listed $200,000 AcadianaMLS
• 2026-01-09 Listed $200,000 GSREIN