2429 Piety St · New Orleans, LA 70117

$155,000

4 bd · 2.0 ba · 1,440 sqft · SingleFamily public records · 144 Days on market

Built 2006 3,659 sqft lot $108/sqft · 11% below area Est $181k · 14% 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 +27.1/30.0
• ARV discount +14.0/15.0
• DSCR +9.4/10.0
• 1% rule +6.6/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single Family home located in the Upper Ninth Ward featuring an open floor plan with 4 bedrooms and 2 baths. Includes a covered carport and a spacious backyard. Easy access to I-10 and 610

Key facts

• Open floor plan
• Spacious backyard
• Covered carport

Tags

• OPEN FLOOR PLAN
• COVERED CARPORT
• SPACIOUS BACKYARD
• EASY ACCESS TO I-10
• EASY ACCESS TO 610

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $12 ($138/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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 rising (+2.5%/yr); 587 active listings in the ZIP; 40 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 $1,803/mo this rent would consume 47% of the median local household income ($46k/yr) (locally 1988% 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 $5k 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 144 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $155k implies a 313% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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 $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 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: 1.16% ✓
• Cap rate: 9.68%
• Cash-on-cash: 12.11%
• DSCR: 1.54
• GRM: 7.2

CMA / ARV

• ARV (median comp): $181,266
• List price: $155,000
• Delta: -14.49%
• 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
2238 Clouet St	0.23mi	3/2.0 (-1)	1,372 (-5%)	10mo	$125,000	$91	68
3130 N Tonti St	0.19mi	3/2.0 (-1)	1,252 (-13%)	5mo	$235,000	$188	60
2334 Louisa St	0.11mi	3/2.5 (-1)	1,645 (+14%)	7mo	$215,000	$131	58
1704 Desire St	0.56mi	3/2.0 (-1)	1,500 (+4%)	7mo	$200,000	$133	56
4006 N Miro St	0.44mi	3/2.0 (-1)	1,272 (-12%)	4mo	$179,900	$141	52
1437 Gallier St	0.74mi	3/2.0 (-1)	1,451 (+1%)	9mo	$65,000	$45	52
1833 Saint Ferdinand St	0.61mi	4/2.5	1,551 (+8%)	8mo	$130,000	$84	50
1933 France St	0.61mi	3/2.0 (-1)	1,358 (-6%)	9mo	$45,000	$33	50
1639 Independence St	0.61mi	3/2.0 (-1)	1,340 (-7%)	7mo	$220,000	$164	49
2218 Feliciana St	0.30mi	3/2.5 (-1)	1,645 (+14%)	8mo	$210,000	$128	49
1713 Desire St	0.55mi	4/2.0	1,654 (+15%)	2mo	$235,000	$142	48
1621 Congress St	0.63mi	3/2.0 (-1)	1,237 (-14%)	4mo	$190,000	$154	38

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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-25,065
• Equity at exit: $23,111

10-year hold

• IRR: -9.0%
• Equity multiple: 0.45×
• Total profit: $-23,656
• Equity at exit: $13,402

Cash invested: $43,400 (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 70117

• Rents YoY: 2.5%
• Active inventory: 587
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,803 high
• Mortgage (P&I): −$813
• Tax from tax record: −$109 /mo · $1,303/yr
• Insurance: −$65
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $12

Break-even live

Break-even rent $1,788

Max offer price $155,000

Occupancy floor 94%

Sensitivity live

Price	-10% $99	-5% $55	+0% $12	+5% $-32	+10% $-76
Rent	-10% $-131	-5% $-60	+0% $12	+5% $83	+10% $154
Rate	-1.0pp $90	-0.5pp $51	base $12	+0.5pp $-29	+1.0pp $-69

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	4d	1	0.22mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	5d	1	0.22mi
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	25d	1	0.23mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	25d	1	0.30mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	25d	1	0.34mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	25d	1	0.34mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	17d	1	0.34mi
1942 Piety St New Orleans, LA	3.0	1.0	1100	$1,500	$1.36	25d	1	0.35mi
1904 Desire St New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	12d	1	0.40mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	17d	1	0.43mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	5d	1	0.44mi
1822 Piety St New Orleans, LA	3.0	1.5	1200	$1,500	$1.25	17d	1	0.46mi
4217 N Johnson St New Orleans, LA	3.0	2.0	904	$1,650	$1.83	25d	1	0.60mi
4222 N Johnson St New Orleans, LA	3.0	2.0	1100	$1,895	$1.72	25d	1	0.62mi
2003 Almonaster Ave New Orleans, LA	3.0	2.0	988	$1,600	$1.62	25d	1	0.64mi
1628 Bartholomew St New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	25d	1	0.68mi
5624-5626 Saint Claude ST New Orleans, LA	4.0	3.0	1521	$2,300	$1.51	25d	1	0.70mi
3302 Metropolitan St New Orleans, LA	4.0	2.5	1700	$2,200	$1.29	18d	1	0.72mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	23d	1	0.73mi
3316 Metropolitan St New Orleans, LA	3.0	2.0	1184	$1,700	$1.44	25d	1	0.75mi
2524 N Galvez St New Orleans, LA	3.0	2.5	1102	$1,800	$1.63	18d	1	0.79mi
2522 N Galvez St New Orleans, LA	3.0	2.0	1105	$1,675	$1.52	25d	1	0.79mi
1924 Painters St New Orleans, LA	3.0	1.0	920	$1,700	$1.85	5d	1	0.79mi
1922 Painters St New Orleans, LA	3.0	1.0	920	$1,700	$1.85	5d	1	0.80mi
2515 N Galvez St Unit 2515 New Orleans, LA	4.0	2.0	1200	$1,900	$1.58	25d	1	0.80mi
2515 N Galvez St New Orleans, LA	4.0	2.0	1200	$1,200	$1.00	12d	1	0.80mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	17d	1	0.80mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	25d	1	0.84mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	5d	1	0.86mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	0.86mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	5d	1	0.86mi
2519 N Derbigny St New Orleans, LA	3.0	1.0	994	$1,300	$1.31	23d	1	0.87mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	25d	1	0.91mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	45d	1	0.92mi
4318 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	5d	1	0.92mi
4318 1/2 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	4d	1	0.93mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	13d	1	0.95mi
1809 Saint Roch Ave New Orleans, LA	3.0	1.0	949	$1,195	$1.26	18d	1	0.96mi
2222 Saint Roch Ave New Orleans, LA	3.0	1.0	900	$1,200	$1.33	25d	1	0.98mi
1636 Music St New Orleans, LA	3.0	1.0	900	$1,185	$1.32	17d	1	0.98mi

Listing history 25 events

1. 2026-06-21
   days on market $155,000 Active 144 DOM
2. 2026-06-18
   days on market $155,000 Active 141 DOM
3. 2026-06-17
   days on market $155,000 Active 140 DOM
4. 2026-06-16
   days on market $155,000 Active 139 DOM
5. 2026-06-15
   days on market $155,000 Active 138 DOM
6. 2026-06-13
   days on market $155,000 Active 136 DOM
7. 2026-06-10
   days on market $155,000 Active 133 DOM
8. 2026-06-09
   days on market $155,000 Active 132 DOM
9. 2026-06-08
   days on market $155,000 Active 131 DOM
10. 2026-06-07
    days on market $155,000 Active 130 DOM
11. 2026-06-05
    days on market $155,000 Active 127 DOM
12. 2026-06-03
    days on market $155,000 Active 126 DOM
13. 2026-06-02
    days on market $155,000 Active 125 DOM
14. 2026-06-01
    days on market $155,000 Active 124 DOM
15. 2026-05-31
    days on market $155,000 Active 123 DOM
16. 2026-05-20
    price $155,000 188-char remark

    Show marketing remark (189 chars)

    Single Family home located in the Upper Ninth Ward featuring an open floor plan with 4 bedrooms and 2 baths. Includes a covered carport and a spacious backyard. Easy access to I-10 and 610

17. 2026-05-20
    price $155,000 189-char remark

    Show marketing remark (189 chars)

    Single Family home located in the Upper Ninth Ward featuring an open floor plan with 4 bedrooms and 2 baths. Includes a covered carport and a spacious backyard. Easy access to I-10 and 610

18. 2026-02-25
    price $160,000 188-char remark

    Show marketing remark (189 chars)

    Single Family home located in the Upper Ninth Ward featuring an open floor plan with 4 bedrooms and 2 baths. Includes a covered carport and a spacious backyard. Easy access to I-10 and 610

19. 2026-02-25
    price $160,000 189-char remark

    Show marketing remark (189 chars)

    Single Family home located in the Upper Ninth Ward featuring an open floor plan with 4 bedrooms and 2 baths. Includes a covered carport and a spacious backyard. Easy access to I-10 and 610

20. 2026-01-28
    listed $165,000 Active 188-char remark

    Show marketing remark (189 chars)

    Single Family home located in the Upper Ninth Ward featuring an open floor plan with 4 bedrooms and 2 baths. Includes a covered carport and a spacious backyard. Easy access to I-10 and 610

21. 2026-01-28
    listed $165,000 Active 189-char remark

    Show marketing remark (189 chars)

    Single Family home located in the Upper Ninth Ward featuring an open floor plan with 4 bedrooms and 2 baths. Includes a covered carport and a spacious backyard. Easy access to I-10 and 610

22. 2004-02-04
    soldstatus $37,500
23. 2003-12-29
    listed $37,500
24. 2003-12-29
    listed $37,500
25. 1981-07-17
    soldstatus $4,500

ⓘ 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: $1,303 · $109/mo
• Projected year-2 tax: $1,303 · $109/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 AE · 78% chance over 30 yrs
• 🔥 Wildfire 2/10 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,631
• − Mortgage interest: −$8,682
• − Property taxes: −$1,303
• − Insurance: −$5,894
• − Repairs & maintenance: −$1,731
• − Management: −$1,731
• − Depreciation: −$4,509
• Taxable loss: −$2,217
• Est. tax savings @ 24.0%: +$532
• After-tax cash flow: $671/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): 25,652
• Household income: $45,764
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1988.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 30% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 5% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 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: ▼ -177.22%
• Current HPI: 184.6061
• Rent YoY: ▲ 2.49%
• 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

+3344.4% since first listed

10 events — show timeline

• 2026-05-20 Price Changed $155,000 AcadianaMLS
• 2026-05-20 Price Changed $155,000 GSREIN
• 2026-02-25 Price Changed $160,000 AcadianaMLS
• 2026-02-25 Price Changed $160,000 GSREIN
• 2026-01-28 Listed $165,000 GSREIN
• 2026-01-28 Listed $165,000 AcadianaMLS
• 2004-02-04 Sold (MLS) $37,500 GSREIN
• 2003-12-29 Listed $37,500 GSREIN
• 2003-12-29 Listed $37,500 AcadianaMLS
• 1981-07-17 Sold (Public Records) $4,500 Public Records

Property tax history

-2.3%/yr

Latest (2026): $1,303 · +1.1% YoY. Source: county tax records.