1512 Owens Blvd Blvd · New Orleans, LA 70122

$195,000

3 bd · 2.0 ba · 1,194 sqft · SingleFamily public records · 23 Days on market

Built 1983 Est $199k · at est.

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Why this score? — see what drove the D 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 +14.1/30.0
• ARV discount +8.5/15.0
• DSCR +4.3/10.0
• Livability +4.0/5.0
• 1% rule +3.6/10.0
• 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

a DREAM property as a starter house, empty nester, or investor. WELL maintained 3 bedroom 2 bathroom cottage. Upgraded touches such as new vinyl floors, stainless steel appliances, and a brand NEW 2024 roof! Great primary suite with trey ceilings and jacuzzi tub. Long galley style kitchen with washer/dryer hook-ups inside. Garage parking and additional storage. Less than a mile from I-610. Succession property and heirs are HIGHLY motivated!

Key facts

• Brand new roof
• Primary suite
• Garage parking

Tags

• UPGRADED TOUCHES
• BRAND NEW ROOF
• PRIMARY SUITE
• GALLEY STYLE KITCHEN
• GARAGE PARKING
• ADDITIONAL STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $-40 ($-474/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (14.0% below list).
• Recommended offer: $168k (14.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• 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 soft (-0.6%/yr); 336 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 41% 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 23 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 30y 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.

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 $167,735 (14.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.86% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.59%
• DSCR: 1.03
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $199,398
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4517 Jeanne Marie Pl	0.09mi	3/2.0	1,266 (+6%)	5mo	$180,000	$142	82
1535 Harrison Ave	0.23mi	3/2.0	1,225 (+3%)	11mo	$204,000	$167	76
1319 Granada Dr	0.42mi	3/2.0	1,262 (+6%)	1mo	$225,000	$178	70
1247 Foy St	0.59mi	3/2.0	1,244 (+4%)	0mo	$40,000	$32	65
4405 Cartier Ave	0.19mi	2/1.0 (-1)	1,046 (-12%)	11mo	$175,000	$167	53
1470 Riviera Ave	0.38mi	2/2.0 (-1)	1,027 (-14%)	2mo	$262,500	$256	52
309 Wallace Dr	0.68mi	3/2.0	1,259 (+5%)	9mo	$235,000	$187	52
3615 Cadillac St	0.75mi	3/2.0	1,100 (-8%)	9mo	$182,500	$166	45
1336 Sere St	0.74mi	3/1.0	1,311 (+10%)	2mo	$90,000	$69	43
1525 Mithra St	0.63mi	2/2.0 (-1)	1,350 (+13%)	1mo	$225,000	$167	43
1900 Wickfield Dr	0.62mi	2/1.0 (-1)	1,026 (-14%)	3mo	$191,000	$186	36
318 Wallace Dr	0.63mi	2/3.0 (-1)	1,357 (+14%)	9mo	$246,000	$181	32

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: -21.2%
• Equity multiple: 0.29×
• Total profit: $-38,996
• Equity at exit: $29,075

10-year hold

• IRR: -23.9%
• Equity multiple: -0.03×
• Total profit: $-56,050
• Equity at exit: $16,860

Cash invested: $54,600 (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: 336
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,677 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$194 /mo · $2,332/yr
• Insurance: −$81
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-40

Break-even live

Break-even rent $1,727

Max offer price $188,017

Occupancy floor 97%

Sensitivity live

Price	-10% $71	-5% $16	+0% $-40	+5% $-95	+10% $-150
Rent	-10% $-172	-5% $-106	+0% $-40	+5% $27	+10% $93
Rate	-1.0pp $59	-0.5pp $10	base $-40	+0.5pp $-90	+1.0pp $-141

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: $48,750
• Closing costs: $5,850
• 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	5d	1	0.23mi
4114 Duplessis St New Orleans, LA	2.0	2.0	1200	$1,800	$1.50	25d	1	0.34mi
4229 Buchanan St New Orleans, LA	3.0	2.0	1235	$2,250	$1.82	25d	1	0.38mi
1621 Caton St New Orleans, LA	2.0	1.0	900	$1,300	$1.44	25d	1	0.44mi
4110 Saint Bernard Ave Unit 1 New Orleans, LA	2.0	1.0	1000	$1,215	$1.22	25d	1	0.47mi
4110 St Bernard Ave New Orleans, LA	2.0	1.0	1000	$1,215	$1.22	23d	1	0.47mi
4117 Roneagle Way Apt D New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	22d	1	0.49mi
4101 Cadillac St Unit A New Orleans, LA	2.0	1.0	850	$1,300	$1.53	25d	1	0.50mi
1664 Saint Denis St New Orleans, LA	2.0	1.0	1000	$2,000	$2.00	25d	1	0.68mi
4736 Saint Anthony Ave New Orleans, LA	3.0	1.0	1100	$1,800	$1.64	17d	1	0.68mi
1373 Sere St New Orleans, LA	2.0	2.0	760	$1,350	$1.78	25d	1	0.71mi
1371 Sere St New Orleans, LA	2.0	2.0	760	$1,350	$1.78	25d	1	0.71mi
3624 Havana St New Orleans, LA	3.0	1.0	1388	$1,875	$1.35	17d	1	0.73mi
3622 Buchanan St Unit 3622 New Orleans, LA	3.0	1.0	950	$1,525	$1.61	25d	1	0.74mi
4304 Pauger St New Orleans, LA	2.0	1.0	1345	$1,450	$1.08	5d	1	0.77mi
213 Warrington Dr New Orleans, LA	2.0	1.0	975	$1,500	$1.54	23d	1	0.79mi
5151 Saint Anthony Ave New Orleans, LA	3.0	2.0	1200	$1,795	$1.50	17d	1	0.84mi
5518 Warrington Dr Unit A New Orleans, LA	2.0	2.0	900	$1,500	$1.67	25d	1	0.86mi
5324 Wildair Dr Unit B New Orleans, LA	2.0	1.0	800	$1,400	$1.75	18d	1	0.87mi
1656 Pleasure St New Orleans, LA	2.0	1.0	1190	$1,350	$1.13	25d	1	0.88mi
3400 Havana St New Orleans, LA	2.0	2.0	1000	$1,500	$1.50	25d	1	0.89mi
5322 Saint Anthony Ave New Orleans, LA	3.0	2.0	1192	$2,000	$1.68	17d	1	0.92mi
3420 Annette St New Orleans, LA	2.0	1.0	900	$1,200	$1.33	4d	1	1.00mi
3515 Saint Anthony Ave New Orleans, LA	3.0	2.0	1366	$2,500	$1.83	25d	1	1.02mi
5700 Wilton Dr New Orleans, LA	2.0	1.0	900	$1,500	$1.67	17d	1	1.04mi
3956 Pauger St New Orleans, LA	2.0	2.0	1200	$1,550	$1.29	25d	1	1.05mi
1506 Treasure St Unit 1506 New Orleans, LA	2.0	1.0	1000	$1,500	$1.50	25d	1	1.06mi
4618 Marigny St New Orleans, LA	3.0	1.0	1320	$1,900	$1.44	25d	1	1.07mi
4616 Marigny St New Orleans, LA	2.0	1.0	1020	$1,750	$1.72	23d	1	1.07mi
5700 Saint Anthony Ave New Orleans, LA	2.0	1.0	875	$1,195	$1.37	5d	1	1.08mi
1516 Aviators St Apt D New Orleans, LA	2.0	1.0	950	$1,250	$1.32	23d	1	1.08mi
1532 Aviators St Unit B New Orleans, LA	2.0	1.0	950	$1,250	$1.32	25d	1	1.08mi
1566 Aviators St Unit D New Orleans, LA	2.0	1.0	1037	$1,360	$1.31	25d	1	1.08mi
1816 Benefit St New Orleans, LA	2.0	1.0	1148	$1,300	$1.13	17d	1	1.09mi
3023 Bruxelles St New Orleans, LA	3.0	1.0	960	$2,200	$2.29	16d	1	1.10mi
3021 Republic St New Orleans, LA	4.0	2.0	1125	$2,200	$1.96	25d	1	1.11mi
1868 Benefit St New Orleans, LA	2.0	1.0	700	$1,100	$1.57	25d	1	1.11mi
5546 Pasteur Blvd Unit A New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	25d	1	1.12mi
2913 St Bernard Ave Unit A New Orleans, LA	2.0	1.0	1000	$1,700	$1.70	25d	1	1.16mi
2910 Bruxelles St New Orleans, LA	3.0	2.0	1074	$1,600	$1.49	5d	1	1.18mi

Listing history 2 events

1. 2026-06-17
   remarks 444-char remark
2. 2026-06-17
   listed $195,000 Pending 23 DOM

ⓘ 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: $2,332 · $194/mo
• Projected year-2 tax: $2,332 · $194/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: $20,128
• − Mortgage interest: −$10,923
• − Property taxes: −$2,332
• − Insurance: −$1,772
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − Depreciation: −$5,673
• Taxable loss: −$3,792
• Est. tax savings @ 24.0%: +$910
• After-tax cash flow: $436/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

+127.8% since first listed

12 events — show timeline

• 2024-12-17 Sold (Public Records) $185,000 Public Records
• 2024-12-13 Sold (MLS) $185,000 GSREIN
• 2024-11-08 Contingent — GSREIN
• 2024-11-01 Listing Removed — GSREIN
• 2024-10-09 Listed $195,000 AcadianaMLS
• 2024-10-09 Listed $195,000 GSREIN
• 2024-08-08 Price Changed $185,000 GSREIN
• 2024-06-27 Listed $185,000 AcadianaMLS
• 1996-10-31 Sold (Public Records) $79,900 Public Records
• 1996-10-31 Sold (MLS) $79,900 GSREIN
• 1996-05-20 Listed $81,200 GSREIN
• 1996-05-20 Listed $81,200 AcadianaMLS

Property tax history

+16.4%/yr

Latest (2026): $2,332 · +565.7% YoY. Source: county tax records.