1528 Virginia Marie St · New Orleans, LA 70122

$189,500

3 bd · 2.0 ba · 1,444 sqft · SingleFamily public records · 133 Days on market

Built 1985 3,898 sqft lot $131/sqft · 13% below area Est $227k · 16% 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 +18.5/30.0
• ARV discount +14.9/15.0
• DSCR +5.8/10.0
• 1% rule +4.6/10.0
• 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

Spacious all brick 3bd/2bth home in Paris Oaks - Bayou Vista! This Gentilly charmer is just 4 Mins to City Park and 6 Mins to JazzFest and the Fairgrounds! Home features an expansive living room with vaulted ceilings and corner wood burning fireplace, cozy kitchen with large dining room. Spacious primary bedroom features a semi-open layout with a convenient vanity area in the bedroom and a private water closet behind a separate door for the tub/shower and toilet. Large secondary bedrooms. Guest bathroom features single vanity and tub/shower combo. Easy to maintain tile flooring throughout. Fully fenced rear yard with two car detached garage. Flood zone X - no flood insurance required but sellers have an assumable policy at $849/yr if desired. This home qualifies for UP TO 100% FINANCING WITH NO PMI, AND UP TO $6000 IN GRANT FUNDS ASSITANCE through preferred lender program. Currently tenant occupied (Section 8 Approved) - tenant pays $1500/month. Make it yours today!

Key facts

• 3,898 sq ft lot
• Garage
• Built 1985

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/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 $182k (4.1% below list).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• This rent runs 44% of the median local income ($49k/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 $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 133 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 30y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $190k implies a 279% gain — meaningful room to come down on a strong offer.

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 $166,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 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: 0.96% ✗
• Cap rate: 7.42%
• Cash-on-cash: 4.04%
• DSCR: 1.18
• GRM: 8.7

CMA / ARV

• ARV (median comp): $226,594
• List price: $189,500
• Delta: -16.37%
• 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
4417 Duplessis St	0.14mi	3/2.0	1,436 (-1%)	3mo	$205,000	$143	90
1520 Virginia Marie St	0.01mi	4/2.0 (+1)	1,472 (+2%)	5mo	$160,000	$109	87
4301 Jeanne Marie Pl	0.15mi	4/2.0 (+1)	1,447 (+0%)	1mo	$235,000	$162	87
4125 Duplessis St	0.27mi	3/2.0	1,518 (+5%)	1mo	$272,000	$179	78
4305 St Bernard Ave	0.41mi	3/2.0	1,409 (-2%)	5mo	$152,000	$108	72
4517 Jeanne Marie Pl	0.14mi	3/2.0	1,266 (-12%)	5mo	$180,000	$142	69
4701 New Orleans St	0.48mi	3/2.5	1,512 (+5%)	2mo	$305,000	$202	66
4507 Annette St	0.59mi	4/2.0 (+1)	1,500 (+4%)	5mo	$265,000	$177	57
1319 Granada Dr	0.48mi	3/2.0	1,262 (-13%)	1mo	$225,000	$178	56
1525 Mithra St	0.67mi	2/2.0 (-1)	1,350 (-6%)	1mo	$225,000	$167	52
1247 Foy St	0.58mi	3/2.0	1,244 (-14%)	0mo	$40,000	$32	50
1336 Sere St	0.71mi	3/1.0	1,311 (-9%)	2mo	$90,000	$69	46

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: -15.7%
• Equity multiple: 0.46×
• Total profit: $-28,852
• Equity at exit: $28,255

10-year hold

• IRR: -13.7%
• Equity multiple: 0.31×
• Total profit: $-36,364
• Equity at exit: $16,384

Cash invested: $53,060 (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: 8.7×

Monthly cashflow live

• Estimated rent: $1,818 high
• Mortgage (P&I): −$994
• Tax from tax record: −$185 /mo · $2,217/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $112

Break-even live

Break-even rent $1,676

Max offer price $189,500

Occupancy floor 89%

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: $47,375
• Closing costs: $5,685
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1486 Mandolin St New Orleans, LA	3.0	2.0	1497	$1,900	$1.27	3d	1	0.18mi
4114 Duplessis St New Orleans, LA	2.0	2.0	1200	$1,800	$1.50	24d	1	0.30mi
4111 Jumonville St New Orleans, LA	3.0	2.5	1543	$2,300	$1.49	10d	1	0.33mi
1621 Caton St New Orleans, LA	2.0	1.0	900	$1,300	$1.44	24d	1	0.35mi
4229 Buchanan St New Orleans, LA	3.0	2.0	1235	$2,250	$1.82	24d	1	0.39mi
4110 Saint Bernard Ave Unit 1 New Orleans, LA	2.0	1.0	1000	$1,215	$1.22	24d	1	0.46mi
4110 St Bernard Ave New Orleans, LA	2.0	1.0	1000	$1,215	$1.22	21d	1	0.46mi
4815 Warrington Dr New Orleans, LA	3.0	2.0	1652	$2,150	$1.30	16d	1	0.48mi
4117 Roneagle Way Apt D New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	20d	1	0.49mi
1664 Saint Denis St New Orleans, LA	2.0	1.0	1000	$2,000	$2.00	24d	1	0.59mi
3624 Havana St New Orleans, LA	3.0	1.0	1388	$1,875	$1.35	16d	1	0.64mi
4736 Saint Anthony Ave New Orleans, LA	3.0	1.0	1100	$1,800	$1.64	16d	1	0.65mi
3607 Havana St New Orleans, LA	3.0	2.0	1693	$1,488	$0.88	17d	1	0.67mi
4304 Pauger St New Orleans, LA	2.0	1.0	1345	$1,450	$1.08	3d	1	0.70mi
3622 Buchanan St Unit 3622 New Orleans, LA	3.0	1.0	950	$1,525	$1.61	24d	1	0.71mi
213 Warrington Dr New Orleans, LA	2.0	1.0	975	$1,500	$1.54	21d	1	0.71mi
1656 Pleasure St New Orleans, LA	2.0	1.0	1190	$1,350	$1.13	24d	1	0.79mi
3400 Havana St New Orleans, LA	2.0	2.0	1000	$1,500	$1.50	24d	1	0.80mi
5151 Saint Anthony Ave New Orleans, LA	3.0	2.0	1200	$1,795	$1.50	16d	1	0.84mi
5518 Warrington Dr Unit A New Orleans, LA	2.0	2.0	900	$1,500	$1.67	24d	1	0.89mi
3420 Annette St New Orleans, LA	2.0	1.0	900	$1,200	$1.33	3d	1	0.91mi
3515 Saint Anthony Ave New Orleans, LA	3.0	2.0	1366	$2,500	$1.83	24d	1	0.93mi
5322 Saint Anthony Ave New Orleans, LA	3.0	2.0	1192	$2,000	$1.68	16d	1	0.94mi
3956 Pauger St New Orleans, LA	2.0	2.0	1200	$1,550	$1.29	24d	1	0.96mi
1506 Treasure St Unit 1506 New Orleans, LA	2.0	1.0	1000	$1,500	$1.50	24d	1	0.98mi
1816 Benefit St New Orleans, LA	2.0	1.0	1148	$1,300	$1.13	16d	1	1.00mi
5716 Warrington Dr New Orleans, LA	4.0	3.0	1560	$2,000	$1.28	17d	1	1.00mi
4618 Marigny St New Orleans, LA	3.0	1.0	1320	$1,900	$1.44	24d	1	1.01mi
4616 Marigny St New Orleans, LA	2.0	1.0	1020	$1,750	$1.72	21d	1	1.01mi
3023 Bruxelles St New Orleans, LA	3.0	1.0	960	$2,200	$2.29	14d	1	1.02mi
3021 Republic St New Orleans, LA	4.0	2.0	1125	$2,200	$1.96	24d	1	1.02mi
5900 Chatham Dr New Orleans, LA	3.0	2.0	1864	$2,500	$1.34	3d	1	1.03mi
3907 Elysian Fields Ave New Orleans, LA	3.0	2.0	1652	$3,000	$1.82	24d	1	1.03mi
5700 Wilton Dr New Orleans, LA	2.0	1.0	900	$1,500	$1.67	16d	1	1.07mi
2913 St Bernard Ave Unit A New Orleans, LA	2.0	1.0	1000	$1,700	$1.70	24d	1	1.09mi
2910 Bruxelles St New Orleans, LA	3.0	2.0	1074	$1,600	$1.49	3d	1	1.10mi
5700 Saint Anthony Ave New Orleans, LA	2.0	1.0	875	$1,195	$1.37	3d	1	1.10mi
5546 Pasteur Blvd Unit A New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	24d	1	1.14mi
3702 Trafalgar St New Orleans, LA	3.0	2.0	1428	$2,350	$1.65	16d	1	1.14mi
2817 Paris Ave New Orleans, LA	3.0	1.0	1018	$1,700	$1.67	20d	1	1.15mi

Listing history 27 events

1. 2026-06-18
   days on market $189,500 Active 133 DOM
2. 2026-06-17
   pricedays on market $189,500 Active 132 DOM
3. 2026-06-16
   days on market $199,500 Active 131 DOM
4. 2026-06-15
   days on market $199,500 Active 130 DOM
5. 2026-06-13
   days on market $199,500 Active 128 DOM
6. 2026-06-10
   days on market $199,500 Active 125 DOM
7. 2026-06-09
   days on market $199,500 Active 124 DOM
8. 2026-06-08
   days on market $199,500 Active 123 DOM
9. 2026-06-07
   days on market $199,500 Active 122 DOM
10. 2026-06-05
    days on market $199,500 Active 119 DOM
11. 2026-06-03
    days on market $199,500 Active 118 DOM
12. 2026-06-02
    days on market $199,500 Active 117 DOM
13. 2026-06-01
    days on market $199,500 Active 116 DOM
14. 2026-05-31
    days on market $199,500 Active 115 DOM
15. 2026-02-05
    listed $199,500 Active 980-char remark

    Show marketing remark (980 chars)

    Spacious all brick 3bd/2bth home in Paris Oaks - Bayou Vista! This Gentilly charmer is just 4 Mins to City Park and 6 Mins to JazzFest and the Fairgrounds! Home features an expansive living room with vaulted ceilings and corner wood burning fireplace, cozy kitchen with large dining room. Spacious primary bedroom features a semi-open layout with a convenient vanity area in the bedroom and a private water closet behind a separate door for the tub/shower and toilet. Large secondary bedrooms. Guest bathroom features single vanity and tub/shower combo. Easy to maintain tile flooring throughout. Fully fenced rear yard with two car detached garage. Flood zone X - no flood insurance required but sellers have an assumable policy at $849/yr if desired. This home qualifies for UP TO 100% FINANCING WITH NO PMI, AND UP TO $6000 IN GRANT FUNDS ASSITANCE through preferred lender program. Currently tenant occupied (Section 8 Approved) - tenant pays $1500/month. Make it yours today!

16. 2026-02-05
    listed $199,500 Active 980-char remark

    Show marketing remark (980 chars)

    Spacious all brick 3bd/2bth home in Paris Oaks - Bayou Vista! This Gentilly charmer is just 4 Mins to City Park and 6 Mins to JazzFest and the Fairgrounds! Home features an expansive living room with vaulted ceilings and corner wood burning fireplace, cozy kitchen with large dining room. Spacious primary bedroom features a semi-open layout with a convenient vanity area in the bedroom and a private water closet behind a separate door for the tub/shower and toilet. Large secondary bedrooms. Guest bathroom features single vanity and tub/shower combo. Easy to maintain tile flooring throughout. Fully fenced rear yard with two car detached garage. Flood zone X - no flood insurance required but sellers have an assumable policy at $849/yr if desired. This home qualifies for UP TO 100% FINANCING WITH NO PMI, AND UP TO $6000 IN GRANT FUNDS ASSITANCE through preferred lender program. Currently tenant occupied (Section 8 Approved) - tenant pays $1500/month. Make it yours today!

17. 2013-06-17
    soldstatus $50,000
18. 2013-06-13
    soldstatus $50,000
19. 2012-08-29
    listed $80,000
20. 2012-08-29
    listed $80,000
21. 2011-12-04
    listed $79,000
22. 2011-12-04
    listed $79,000
23. 1996-05-28
    soldstatus $65,000
24. 1996-05-28
    soldstatus $65,000
25. 1996-03-26
    listed $65,000
26. 1996-03-26
    listed $65,000
27. 1991-10-31
    soldstatus $44,500

ⓘ 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: $2,217 · $185/mo
• Projected year-2 tax: $2,217 · $185/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) · 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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,815
• − Mortgage interest: −$10,615
• − Property taxes: −$2,217
• − Insurance: −$1,745
• − Repairs & maintenance: −$1,745
• − Management: −$1,745
• − Depreciation: −$5,513
• Taxable loss: −$1,765
• Est. tax savings @ 24.0%: +$424
• After-tax cash flow: $1,770/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

+348.3% since first listed

13 events — show timeline

• 2026-02-05 Listed $199,500 GSREIN
• 2026-02-05 Listed $199,500 AcadianaMLS
• 2013-06-17 Sold (Public Records) $50,000 Public Records
• 2013-06-13 Sold (MLS) $50,000 GSREIN
• 2012-08-29 Listed $80,000 AcadianaMLS
• 2012-08-29 Listed $80,000 GSREIN
• 2011-12-04 Listed $79,000 GSREIN
• 2011-12-04 Listed $79,000 AcadianaMLS
• 1996-05-28 Sold (Public Records) $65,000 Public Records
• 1996-05-28 Sold (MLS) $65,000 GSREIN
• 1996-03-26 Listed $65,000 GSREIN
• 1996-03-26 Listed $65,000 AcadianaMLS
• 1991-10-31 Sold (Public Records) $44,500 Public Records

Property tax history

+10.4%/yr

Latest (2026): $2,217 · +1.1% YoY. Source: county tax records.