6342 Peoples Ave · New Orleans, LA 70122

$185,000

3 bd · 2.0 ba · 1,260 sqft · SingleFamily public records · 142 Days on market

Built 1942 4,948 sqft lot $147/sqft · 21% below area Est $228k · 19% 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 +23.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +5.1/10.0
• 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

?? Welcome to 6432 Peoples Ave - A Renovated Gem in New Orleans! Step into this beautifully updated 2-bedroom, 2-bath corner lot home offering a blend of comfort and modern style. Featuring an open-concept living and dining area and offer spaces for entertaining. The kitchen boasts granite countertops, stainless steel appliances, and plenty of cabinet space. Enjoy easy-care tile and laminate flooring throughout--no carpet! The spacious primary suite includes a private bath and generous closet space. The large backyard is fully fenced for gatherings, pets, or a future garden oasis. Additional highlights: off-street parking, interior laundry, central HVAC, and move-in ready condition. Located just minutes from schools, parks, and I-10 for an easy commute. Preferred X Flood Zone. Some photos are prior to seller moving in. Great for first-time buyers or investors--schedule your showing today!

Key facts

• Private bath
• Granite countertops
• Open-concept living

Tags

• CORNER LOT
• OPEN-CONCEPT LIVING
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• TILE AND LAMINATE FLOORING
• PRIVATE BATH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 24d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $1,874/mo this rent would consume 45% 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 $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 142 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 7y 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.
• Current owner paid $158k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• 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 $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.01% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.97%
• DSCR: 1.35
• GRM: 8.2

CMA / ARV

• ARV (median comp): $228,174
• List price: $185,000
• Delta: -18.92%
• 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
5817 Providence Pl	0.41mi	3/2.0	1,225 (-3%)	6mo	$235,900	$193	71
2655 New York St	0.15mi	3/2.0	1,359 (+8%)	13mo	$225,000	$166	69
5840 Eads St	0.41mi	3/2.0	1,320 (+5%)	8mo	$175,000	$133	66
2769 Pressburg St	0.34mi	2/2.0 (-1)	1,202 (-5%)	8mo	$200,000	$166	65
2520 Mexico St	0.35mi	3/2.0	1,366 (+8%)	8mo	$264,300	$193	63
4008 Prentiss Ave	0.54mi	3/1.0	1,225 (-3%)	4mo	$114,000	$93	62
2517 Allen Toussaint Blvd Blvd	0.37mi	3/2.0	1,350 (+7%)	11mo	$200,000	$148	62
2547 Athis St	0.51mi	3/1.0	1,272 (+1%)	11mo	$140,000	$110	62
5923 Painters St	0.44mi	3/2.0	1,125 (-11%)	3mo	$159,900	$142	59
5717 Baccich St	0.46mi	3/2.5	1,400 (+11%)	12mo	$209,900	$150	48
4033 Odin St	0.61mi	3/2.0	1,124 (-11%)	10mo	$200,000	$178	45
6309 Debore Dr	0.62mi	3/2.0	1,401 (+11%)	13mo	$240,000	$171	42

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: -9.7%
• Equity multiple: 0.66×
• Total profit: $-17,818
• Equity at exit: $27,584

10-year hold

• IRR: -4.8%
• Equity multiple: 0.73×
• Total profit: $-14,060
• Equity at exit: $15,995

Cash invested: $51,800 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,874 high
• Mortgage (P&I): −$970
• Tax from tax record: −$89 /mo · $1,070/yr
• Insurance: −$77
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $277

Break-even live

Break-even rent $1,523

Max offer price $185,000

Occupancy floor 80%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6530 Peoples Ave New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	24d	1	0.11mi
6226 Lafaye St New Orleans, LA	2.0	2.0	1137	$2,600	$2.29	12d	1	0.16mi
6226 Lafaye St New Orleans, LA	2.0	2.0	1137	$2,600	$2.29	44d	1	0.16mi
6036 Franklin Ave New Orleans, LA	2.0	1.0	898	$1,200	$1.34	17d	1	0.35mi
2512 Mexico St New Orleans, LA	3.0	2.0	975	$1,550	$1.59	24d	1	0.36mi
5905 Lafaye St New Orleans, LA	3.0	1.0	911	$1,700	$1.87	24d	1	0.37mi
2701 03 Frankfort St New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	24d	1	0.38mi
6222 Arts St Unit 6226 New Orleans, LA	2.0	1.5	1120	$1,250	$1.12	24d	1	0.40mi
6329 Spain St New Orleans, LA	3.0	2.0	1545	$2,100	$1.36	16d	1	0.57mi
5925 Saint Roch Ave New Orleans, LA	2.0	1.0	1000	$1,550	$1.55	17d	1	0.59mi
2458 Athis St New Orleans, LA	4.0	2.0	1530	$2,200	$1.44	24d	1	0.61mi
5550 Press Dr New Orleans, LA	3.0	2.0	1640	$2,000	$1.22	16d	1	0.65mi
2312 Madrid St New Orleans, LA	2.0	1.0	1100	$1,475	$1.34	24d	1	0.67mi
5925 Pauline Dr New Orleans, LA	3.0	2.0	1566	$2,325	$1.48	16d	1	0.79mi
5747 Pauline Dr New Orleans, LA	3.0	1.0	1300	$1,400	$1.08	12d	1	0.85mi
5519 Mandeville St New Orleans, LA	3.0	1.0	1125	$1,650	$1.47	3d	1	0.90mi
6202 Vermillion Blvd New Orleans, LA	3.0	2.0	1200	$1,700	$1.42	16d	1	0.90mi
5172 Venus St Unit 5172 New Orleans, LA	3.0	2.5	1864	$2,450	$1.31	24d	1	0.94mi
4722 Mithra St New Orleans, LA	3.0	1.5	1295	$1,600	$1.24	24d	1	0.95mi
6237 Curie St Unit 6237 New Orleans, LA	2.0	1.0	1000	$1,350	$1.35	3d	1	0.96mi
6237 Curie St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	24d	1	0.96mi
6235 Curie St Unit 6235 New Orleans, LA	2.0	1.0	1000	$1,350	$1.35	10d	1	0.96mi
6235 Curie St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	24d	1	0.96mi
6217 Curie St New Orleans, LA	3.0	2.0	1700	$1,500	$0.88	24d	1	0.97mi
6009 Pasteur Blvd New Orleans, LA	3.0	2.0	1250	$1,785	$1.43	24d	1	0.97mi
5718 Vermillion Blvd Unit A New Orleans, LA	3.0	1.0	1300	$2,000	$1.54	24d	1	1.00mi
5723 Pasteur Blvd New Orleans, LA	3.0	2.0	1150	$1,700	$1.48	17d	1	1.02mi
4936 Baccich St New Orleans, LA	3.0	1.0	1053	$1,700	$1.61	24d	1	1.05mi
6079 Saint Anthony Ave New Orleans, LA	3.0	2.0	1400	$2,400	$1.71	16d	1	1.08mi
5546 Pasteur Blvd Unit A New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	24d	1	1.11mi
1940 Allen Toussaint Blvd New Orleans, LA	3.0	2.0	1500	$1,550	$1.03	11d	1	1.12mi
1940 Allen Toussaint Blvd Unit 1940 New Orleans, LA	3.0	2.0	1500	$1,600	$1.07	24d	1	1.12mi
4767 Lafaye St New Orleans, LA	3.0	2.0	1469	$2,000	$1.36	24d	1	1.14mi
6090 Wilton Dr New Orleans, LA	2.0	1.0	1020	$1,400	$1.37	3d	1	1.16mi
1903 Rosary Dr New Orleans, LA	3.0	2.0	1500	$1,800	$1.20	24d	1	1.19mi
5700 Saint Anthony Ave New Orleans, LA	2.0	1.0	875	$1,195	$1.37	3d	1	1.21mi
4681 Eastern St New Orleans, LA	2.0	1.0	1100	$1,400	$1.27	16d	1	1.24mi
5700 Wilton Dr New Orleans, LA	2.0	1.0	900	$1,500	$1.67	16d	1	1.25mi
5322 Saint Anthony Ave New Orleans, LA	3.0	2.0	1192	$2,000	$1.68	16d	1	1.30mi
7702 Belcrest Pl New Orleans, LA	3.0	1.5	1150	$1,650	$1.43	24d	1	1.30mi

Listing history 40 events

1. 2026-06-18
   days on market $185,000 Active 142 DOM
2. 2026-06-17
   days on market $185,000 Active 141 DOM
3. 2026-06-16
   days on market $185,000 Active 140 DOM
4. 2026-06-15
   days on market $185,000 Active 139 DOM
5. 2026-06-13
   days on market $185,000 Active 137 DOM
6. 2026-06-10
   days on market $185,000 Active 134 DOM
7. 2026-06-09
   days on market $185,000 Active 133 DOM
8. 2026-06-08
   days on market $185,000 Active 132 DOM
9. 2026-06-07
   days on market $185,000 Active 131 DOM
10. 2026-06-05
    days on market $185,000 Active 128 DOM
11. 2026-06-03
    days on market $185,000 Active 127 DOM
12. 2026-06-02
    days on market $185,000 Active 126 DOM
13. 2026-06-01
    days on market $185,000 Active 125 DOM
14. 2026-05-31
    days on market $185,000 Active 124 DOM
15. 2026-01-27
    listed $185,000 Active 901-char remark

    Show marketing remark (917 chars)

    ?? Welcome to 6432 Peoples Ave – A Renovated Gem in New Orleans! Step into this beautifully updated 2-bedroom, 2-bath corner lot home offering a blend of comfort and modern style. Featuring an open-concept living and dining area and offer spaces for entertaining. The kitchen boasts granite countertops, stainless steel appliances, and plenty of cabinet space. Enjoy easy-care tile and laminate flooring throughout—no carpet! The spacious primary suite includes a private bath and generous closet space. The large backyard is fully fenced for gatherings, pets, or a future garden oasis. Additional highlights: off-street parking, interior laundry, central HVAC, and move-in ready condition. Located just minutes from schools, parks, and I-10 for an easy commute. Preferred X Flood Zone. Some photos are prior to seller moving in. Great for first-time buyers or investors—schedule your showing today!

16. 2026-01-27
    listed $185,000 Active 917-char remark

    Show marketing remark (917 chars)

    ?? Welcome to 6432 Peoples Ave – A Renovated Gem in New Orleans! Step into this beautifully updated 2-bedroom, 2-bath corner lot home offering a blend of comfort and modern style. Featuring an open-concept living and dining area and offer spaces for entertaining. The kitchen boasts granite countertops, stainless steel appliances, and plenty of cabinet space. Enjoy easy-care tile and laminate flooring throughout—no carpet! The spacious primary suite includes a private bath and generous closet space. The large backyard is fully fenced for gatherings, pets, or a future garden oasis. Additional highlights: off-street parking, interior laundry, central HVAC, and move-in ready condition. Located just minutes from schools, parks, and I-10 for an easy commute. Preferred X Flood Zone. Some photos are prior to seller moving in. Great for first-time buyers or investors—schedule your showing today!

17. 2025-09-26
    price $185,000
18. 2025-09-25
    price $185,000
19. 2025-07-14
    price $190,000
20. 2025-07-14
    price $190,000
21. 2025-06-24
    listed $195,000 Active
22. 2020-03-31
    soldstatus $157,500 Closed
23. 2020-03-05
    status Pending
24. 2020-03-03
    price $154,900
25. 2020-03-03
    status Active
26. 2020-01-22
    status Pending
27. 2020-01-18
    price $159,999
28. 2020-01-10
    price $164,999
29. 2020-01-05
    price $169,999
30. 2019-12-11
    price $174,000
31. 2019-11-27
    price $179,900
32. 2019-11-13
    price $185,000
33. 2019-11-11
    price $193,000
34. 2019-11-07
    listed $196,000 Active
35. 2019-11-07
    listed $154,900
36. 2019-09-16
    soldstatus $55,000 Closed
37. 2019-08-22
    status Pending
38. 2019-08-22
    listed $55,000
39. 2019-08-22
    listed $55,000 Active
40. 1993-01-18
    soldstatus $29,000

ⓘ 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: $1,070 · $89/mo
• Projected year-2 tax: $1,070 · $89/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 ≥107°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: $22,485
• − Mortgage interest: −$10,363
• − Property taxes: −$1,070
• − Insurance: −$1,722
• − Repairs & maintenance: −$1,799
• − Management: −$1,799
• − Depreciation: −$5,382
• Taxable income: $351
• Est. tax owed @ 24.0%: −$84
• After-tax cash flow: $3,245/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

+537.9% since first listed

26 events — show timeline

• 2026-01-27 Listed $185,000 GSREIN
• 2026-01-27 Listed $185,000 AcadianaMLS
• 2025-09-26 Price Changed $185,000 AcadianaMLS
• 2025-09-25 Price Changed $185,000 GSREIN
• 2025-07-14 Price Changed $190,000 AcadianaMLS
• 2025-07-14 Price Changed $190,000 GSREIN
• 2025-06-24 Listed $195,000 AcadianaMLS
• 2020-03-31 Sold (MLS) $157,500 GSREIN
• 2020-03-05 Pending — GSREIN
• 2020-03-03 Price Changed $154,900 GSREIN
• 2020-03-03 Relisted — GSREIN
• 2020-01-22 Pending — GSREIN
• 2020-01-18 Price Changed $159,999 GSREIN
• 2020-01-10 Price Changed $164,999 GSREIN
• 2020-01-05 Price Changed $169,999 GSREIN
• 2019-12-11 Price Changed $174,000 GSREIN
• 2019-11-27 Price Changed $179,900 GSREIN
• 2019-11-13 Price Changed $185,000 GSREIN
• 2019-11-11 Price Changed $193,000 GSREIN
• 2019-11-07 Listed $154,900 AcadianaMLS
• 2019-11-07 Listed $196,000 GSREIN
• 2019-09-16 Sold (MLS) $55,000 GSREIN
• 2019-08-22 Pending — GSREIN
• 2019-08-22 Listed $55,000 GSREIN
• 2019-08-22 Listed $55,000 AcadianaMLS
• 1993-01-18 Sold (Public Records) $29,000 Public Records

Property tax history

+1.3%/yr

Latest (2026): $1,070 · -20.2% YoY. Source: county tax records.