4124 Clermont Dr · New Orleans, LA 70122

$229,000

2 bd · 1.0 ba · 1,986 sqft · SingleFamily public records · 129 Days on market

Built 1987 6,098 sqft lot $115/sqft · 27% below area Est $316k · 27% 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 +16.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• 1% rule +4.0/10.0
• 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

FIXER UPPER! PRICED TO SELL. Investors special. Come and make the remaining repairs to this home as your next project. This home is found in the heart of New Orleans - in a well manicured and maintained neighborhood. This charming property features a large living room, study area, loads of natural light, open kitchen layout, sizable bedrooms, and much more! Come make the needed repairs on your next investment. Priced below comps in the area!

Key facts

• Study area
• Large living room
• Open kitchen layout

Tags

• WELL MANICURED NEIGHBORHOOD
• LARGE LIVING ROOM
• STUDY AREA
• LOADS OF NATURAL LIGHT
• OPEN KITCHEN LAYOUT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $70 ($842/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (10.5% below list).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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 (-0.6%/yr); 332 active listings in the ZIP; 31 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).
• At $2,050/mo this rent would consume 50% 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 129 days — a 12% lower offer ($202k) 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.
• Current owner paid $74k; list at $229k implies a 209% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.90% ✗
• Cap rate: 7.01%
• Cash-on-cash: 2.56%
• DSCR: 1.11
• GRM: 9.3

CMA / ARV

• ARV (median comp): $315,605
• List price: $229,000
• Delta: -27.44%
• 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
4513 Touro St	0.38mi	3/2.5 (+1)	2,000 (+1%)	4mo	$340,000	$170	67
2340 Wisteria St	0.18mi	2/1.0	1,717 (-14%)	6mo	$91,400	$53	64
4440 Spain St	0.28mi	3/2.5 (+1)	2,150 (+8%)	7mo	$440,000	$205	56
4430 Lafaye St	0.60mi	3/2.5 (+1)	2,047 (+3%)	3mo	$375,000	$183	54
4810 Pauger St	0.60mi	3/2.0 (+1)	1,809 (-9%)	2mo	$360,000	$199	47
4427 Demontluzin St	0.58mi	3/2.0 (+1)	1,885 (-5%)	12mo	$205,000	$109	46
4615 Painters St	0.50mi	3/2.0 (+1)	1,766 (-11%)	4mo	$324,900	$184	46
4674 Venus St	0.58mi	3/3.0 (+1)	1,870 (-6%)	6mo	$295,000	$158	45
4955 Mandeville St	0.64mi	3/2.0 (+1)	1,839 (-7%)	13mo	$218,000	$119	38
2057 Pleasure St	0.56mi	3/2.0 (+1)	1,697 (-15%)	4mo	$289,000	$170	38
4959 Elysian Fields Ave	0.65mi	3/2.5 (+1)	2,140 (+8%)	12mo	$315,000	$147	36
5025 Pauger St	0.75mi	3/2.0 (+1)	1,717 (-14%)	1mo	$269,000	$157	33

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: -17.6%
• Equity multiple: 0.40×
• Total profit: $-38,634
• Equity at exit: $34,145

10-year hold

• IRR: -16.5%
• Equity multiple: 0.20×
• Total profit: $-51,060
• Equity at exit: $19,800

Cash invested: $64,120 (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: 332
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,050 high
• Mortgage (P&I): −$1,201
• Tax from tax record: −$187 /mo · $2,238/yr
• Insurance: −$95
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $70

Break-even live

Break-even rent $1,961

Max offer price $229,000

Occupancy floor 92%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3907 Elysian Fields Ave New Orleans, LA	3.0	2.0	1652	$3,000	$1.82	24d	1	0.13mi
3570 Gentilly Blvd New Orleans, LA	3.0	2.0	2390	$2,900	$1.21	44d	1	0.34mi
4304 Pauger St New Orleans, LA	2.0	1.0	1345	$1,450	$1.08	3d	1	0.35mi
4618 Marigny St New Orleans, LA	3.0	1.0	1320	$1,900	$1.44	24d	1	0.36mi
3540 Clermont Dr New Orleans, LA	3.0	2.0	1248	$1,975	$1.58	24d	1	0.47mi
3718 Franklin Ave New Orleans, LA	2.0	1.0	1601	$1,800	$1.12	12d	1	0.51mi
3515 Saint Anthony Ave New Orleans, LA	3.0	2.0	1366	$2,500	$1.83	24d	1	0.52mi
2509 Sage St New Orleans, LA	3.0	1.0	1250	$1,650	$1.32	21d	1	0.60mi
2646 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	17d	1	0.71mi
2644 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	17d	1	0.71mi
3001 Marigny St New Orleans, LA	2.0	1.0	1250	$1,400	$1.12	24d	1	0.76mi
4815 Warrington Dr New Orleans, LA	3.0	2.0	1652	$2,150	$1.30	16d	1	0.78mi
3607 Havana St New Orleans, LA	3.0	2.0	1693	$1,488	$0.88	17d	1	0.79mi
3624 Havana St New Orleans, LA	3.0	1.0	1388	$1,875	$1.35	16d	1	0.80mi
4767 Lafaye St New Orleans, LA	3.0	2.0	1469	$2,000	$1.36	24d	1	0.82mi
5172 Venus St Unit 5172 New Orleans, LA	3.0	2.5	1864	$2,450	$1.31	24d	1	0.89mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	16d	1	1.00mi
1486 Mandolin St New Orleans, LA	3.0	2.0	1497	$1,900	$1.27	3d	1	1.11mi
2175 N Broad St New Orleans, LA	2.0	1.0	1500	$1,500	$1.00	16d	1	1.12mi
2130 N Broad St New Orleans, LA	2.0	1.0	1579	$1,350	$0.85	24d	1	1.19mi
4111 Jumonville St New Orleans, LA	3.0	2.5	1543	$2,300	$1.49	10d	1	1.22mi
5718 Vermillion Blvd Unit A New Orleans, LA	3.0	1.0	1300	$2,000	$1.54	24d	1	1.23mi
1901 Gentilly Blvd New Orleans, LA	3.0	2.5	2205	$4,000	$1.81	44d	1	1.36mi
4229 Buchanan St New Orleans, LA	3.0	2.0	1235	$2,250	$1.82	24d	1	1.36mi
6009 Pasteur Blvd New Orleans, LA	3.0	2.0	1250	$1,785	$1.43	24d	1	1.39mi
2228 Arts St New Orleans, LA	3.0	2.0	2270	$1,675	$0.74	3d	1	1.40mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	24d	1	1.44mi
1823 Rosiere St New Orleans, LA	2.0	1.0	1400	$1,450	$1.04	24d	1	1.46mi
1821 Rosiere St New Orleans, LA	2.0	1.0	1400	$1,300	$0.93	24d	1	1.47mi
5550 Press Dr New Orleans, LA	3.0	2.0	1640	$2,000	$1.22	16d	1	1.48mi
4727 Saint Bernard Ave New Orleans, LA	3.0	2.0	2000	$2,000	$1.00	16d	1	1.49mi

Listing history 3 events

1. 2026-01-21
   listed $229,000 Active 445-char remark

   Show marketing remark (445 chars)

   FIXER UPPER! PRICED TO SELL. Investors special. Come and make the remaining repairs to this home as your next project. This home is found in the heart of New Orleans - in a well manicured and maintained neighborhood. This charming property features a large living room, study area, loads of natural light, open kitchen layout, sizable bedrooms, and much more! Come make the needed repairs on your next investment. Priced below comps in the area!

2. 2026-01-21
   listed $229,000 Active 445-char remark

   Show marketing remark (445 chars)

   FIXER UPPER! PRICED TO SELL. Investors special. Come and make the remaining repairs to this home as your next project. This home is found in the heart of New Orleans - in a well manicured and maintained neighborhood. This charming property features a large living room, study area, loads of natural light, open kitchen layout, sizable bedrooms, and much more! Come make the needed repairs on your next investment. Priced below comps in the area!

3. 1987-04-10
   soldstatus $74,000

ⓘ 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: $2,238 · $187/mo
• Projected year-2 tax: $2,238 · $187/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 7/10 Severe FEMA zone X · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 20 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: $24,600
• − Mortgage interest: −$12,828
• − Property taxes: −$2,238
• − Insurance: −$1,942
• − Repairs & maintenance: −$1,968
• − Management: −$1,968
• − Depreciation: −$6,662
• Taxable loss: −$3,006
• Est. tax savings @ 24.0%: +$721
• After-tax cash flow: $1,564/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

+209.5% since first listed

3 events — show timeline

• 2026-01-21 Listed $229,000 GBRMLS
• 2026-01-21 Listed $229,000 AcadianaMLS
• 1987-04-10 Sold (Public Records) $74,000 Public Records

Property tax history

+7.9%/yr

Latest (2026): $2,238 · +1.1% YoY. Source: county tax records.