7538 Forum Blvd · New Orleans, LA 70128

$120,000

3 bd · 2.0 ba · 1,492 sqft · SingleFamily public records · 104 Days on market

Built 1977 $80/sqft · 11% below area Est $134k · 11% 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 +28.1/30.0
• ARV discount +12.3/15.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this cozy 3-bedroom, 2-bath property in New Orleans East! With nearly 1,500 square feet of living space, this home offers a comfortable layout with plenty of room to relax and entertain. The classic brick exterior adds great curb appeal, while the interior provides a solid foundation for you to make it your own. Located in an established Eastshore neighborhood, you'll enjoy convenient access to shopping, schools, and major roadways--making it easy to get around the city. Whether you're a first-time homebuyer, looking to downsize, or searching for a great investment opportunity, this home has plenty of potential. Come visit this property and imagine how you can make this space your own!

Key facts

• Access to schools
• Brick exterior
• Parking

Tags

• BRICK EXTERIOR
• EASTSHORE NEIGHBORHOOD
• CONVENIENT ACCESS TO SHOPPING
• ACCESS TO SCHOOLS
• ACCESS TO MAJOR ROADWAYS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $312 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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: 105 active listings in the ZIP; 14 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 28y 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 $30k; list at $120k implies a 300% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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: 1.24% ✓
• Cap rate: 10.08%
• Cash-on-cash: 13.53%
• DSCR: 1.60
• GRM: 6.7

CMA / ARV

• ARV (median comp): $134,197
• List price: $120,000
• Delta: -10.58%
• 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
14754 Beekman. Rd	0.26mi	4/2.0 (+1)	1,500 (+0%)	1mo	$50,000	$33	81
7562 Forum Blvd	0.03mi	4/2.0 (+1)	1,380 (-8%)	1mo	$98,000	$71	80
14812 Emory Rd	0.19mi	3/2.0	1,554 (+4%)	10mo	$150,000	$97	76
7663 Stonewood St	0.24mi	3/2.0	1,375 (-8%)	7mo	$90,000	$65	70
8014 Buffalo Rd	0.40mi	4/2.0 (+1)	1,506 (+1%)	7mo	$170,000	$113	69
7540 Pineridge St	0.34mi	3/2.0	1,480 (-1%)	18mo	$120,000	$81	68
14737 Emory Rd	0.18mi	3/2.0	1,344 (-10%)	10mo	$145,000	$108	66
7725 Tricia Ct	0.65mi	3/2.0	1,546 (+4%)	5mo	$150,000	$97	60
7636 Avon Park Blvd	0.22mi	3/2.0	1,620 (+9%)	23mo	$53,000	$33	56
14516 Tilbury Rd	0.05mi	4/1.5 (+1)	1,316 (-12%)	23mo	$115,000	$87	52
7009 Pinebrook Dr	0.62mi	3/2.0	1,400 (-6%)	11mo	$169,900	$121	51
7537 Scottwood Dr	0.72mi	3/2.0	1,618 (+8%)	14mo	$176,000	$109	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.01×
• Total profit: $487
• Equity at exit: $17,892

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $26,214
• Equity at exit: $10,375

Cash invested: $33,600 (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 70128

• Home prices YoY: -5.9%
• Active inventory: 105
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,490 high
• Mortgage (P&I): −$629
• Tax from tax record: −$119 /mo · $1,428/yr
• Insurance: −$50
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $312

Break-even live

Break-even rent $1,095

Max offer price $120,000

Occupancy floor 74%

Sensitivity live

Price	-10% $380	-5% $346	+0% $312	+5% $278	+10% $244
Rent	-10% $195	-5% $253	+0% $312	+5% $371	+10% $430
Rate	-1.0pp $373	-0.5pp $343	base $312	+0.5pp $281	+1.0pp $250

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14509 Duane Rd New Orleans, LA	2.0	1.0	1150	$1,518	$1.32	24d	1	0.07mi
14530 Duane Rd New Orleans, LA	3.0	1.0	1150	$1,450	$1.26	3d	1	0.07mi
14530 Duane Rd New Orleans, LA	3.0	1.0	1150	$1,450	$1.26	4d	1	0.07mi
7505 Shorewood Blvd New Orleans, LA	4.0	2.0	1700	$1,800	$1.06	24d	1	0.09mi
14724 Emory Rd New Orleans, LA	3.0	2.0	1400	$1,500	$1.07	24d	1	0.13mi
14900 Curran Rd New Orleans, LA	3.0	2.0	1221	$1,250	$1.02	24d	1	0.22mi
7808 Sun St New Orleans, LA	4.0	1.5	1500	$1,950	$1.30	24d	1	0.25mi
7843 Sail St New Orleans, LA	3.0	1.5	1500	$1,200	$0.80	24d	1	0.27mi
7849 Sail St New Orleans, LA	3.0	2.0	1395	$1,200	$0.86	24d	1	0.28mi
7851 Sail St New Orleans, LA	3.0	2.0	1395	$1,200	$0.86	24d	1	0.28mi
7825 Star St New Orleans, LA	2.0	1.0	982	$1,250	$1.27	24d	1	0.32mi
14031 Linden St New Orleans, LA	3.0	2.0	1200	$1,400	$1.17	24d	1	0.42mi
7501 Briarwood Dr New Orleans, LA	3.0	2.0	1500	$1,850	$1.23	24d	1	0.68mi
12345 I 10 Service Rd New Orleans, LA	1.0–2.0	1.0–2.0	746	$1,125	$1.51	2d	200	1.38mi

Listing history 25 events

1. 2026-06-18
   days on market $120,000 Active 104 DOM
2. 2026-06-17
   days on market $120,000 Active 103 DOM
3. 2026-06-16
   days on market $120,000 Active 102 DOM
4. 2026-06-15
   days on market $120,000 Active 101 DOM
5. 2026-06-13
   days on market $120,000 Active 99 DOM
6. 2026-06-10
   days on market $120,000 Active 96 DOM
7. 2026-06-09
   days on market $120,000 Active 95 DOM
8. 2026-06-08
   days on market $120,000 Active 94 DOM
9. 2026-06-07
   days on market $120,000 Active 93 DOM
10. 2026-06-05
    days on market $120,000 Active 90 DOM
11. 2026-06-03
    days on market $120,000 Active 89 DOM
12. 2026-06-02
    days on market $120,000 Active 88 DOM
13. 2026-06-01
    days on market $120,000 Active 87 DOM
14. 2026-05-31
    days on market $120,000 Active 86 DOM
15. 2026-04-16
    price $120,000 710-char remark

    Show marketing remark (727 chars)

    Welcome home to this cozy 3-bedroom, 2-bath property in New Orleans East! With nearly 1,500 square feet of living space, this home offers a comfortable layout with plenty of room to relax and entertain. The classic brick exterior adds great curb appeal, while the interior provides a solid foundation for you to make it your own. Located in an established Eastshore neighborhood, you’ll enjoy convenient access to shopping, schools, and major roadways—making it easy to get around the city. Whether you’re a first-time homebuyer, looking to downsize, or searching for a great investment opportunity, this home has plenty of potential. Come visit this property and imagine how you can make this space your own!

16. 2026-04-16
    price $120,000 727-char remark

    Show marketing remark (727 chars)

    Welcome home to this cozy 3-bedroom, 2-bath property in New Orleans East! With nearly 1,500 square feet of living space, this home offers a comfortable layout with plenty of room to relax and entertain. The classic brick exterior adds great curb appeal, while the interior provides a solid foundation for you to make it your own. Located in an established Eastshore neighborhood, you’ll enjoy convenient access to shopping, schools, and major roadways—making it easy to get around the city. Whether you’re a first-time homebuyer, looking to downsize, or searching for a great investment opportunity, this home has plenty of potential. Come visit this property and imagine how you can make this space your own!

17. 2026-03-05
    listed $126,000 Active 710-char remark

    Show marketing remark (727 chars)

    Welcome home to this cozy 3-bedroom, 2-bath property in New Orleans East! With nearly 1,500 square feet of living space, this home offers a comfortable layout with plenty of room to relax and entertain. The classic brick exterior adds great curb appeal, while the interior provides a solid foundation for you to make it your own. Located in an established Eastshore neighborhood, you’ll enjoy convenient access to shopping, schools, and major roadways—making it easy to get around the city. Whether you’re a first-time homebuyer, looking to downsize, or searching for a great investment opportunity, this home has plenty of potential. Come visit this property and imagine how you can make this space your own!

18. 2026-03-05
    listed $126,000 Active 727-char remark

    Show marketing remark (727 chars)

    Welcome home to this cozy 3-bedroom, 2-bath property in New Orleans East! With nearly 1,500 square feet of living space, this home offers a comfortable layout with plenty of room to relax and entertain. The classic brick exterior adds great curb appeal, while the interior provides a solid foundation for you to make it your own. Located in an established Eastshore neighborhood, you’ll enjoy convenient access to shopping, schools, and major roadways—making it easy to get around the city. Whether you’re a first-time homebuyer, looking to downsize, or searching for a great investment opportunity, this home has plenty of potential. Come visit this property and imagine how you can make this space your own!

19. 2024-10-21
    price $178,700
20. 2024-10-21
    price $178,700
21. 2024-09-28
    listed $198,700 Active
22. 2007-01-22
    soldstatus $30,000
23. 1998-12-21
    soldstatus $60,200
24. 1998-09-10
    listed $59,900
25. 1977-06-10
    soldstatus $34,900

ⓘ 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: $1,428 · $119/mo
• Projected year-2 tax: $1,428 · $119/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,879
• − Mortgage interest: −$6,722
• − Property taxes: −$1,428
• − Insurance: −$1,398
• − Repairs & maintenance: −$1,430
• − Management: −$1,430
• − Depreciation: −$3,491
• Taxable income: $1,980
• Est. tax owed @ 24.0%: −$475
• After-tax cash flow: $3,272/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
• City population: 338,817
• Population (ZIP): 22,973

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 (86%)
• Race & ethnicity: Black 86% Asian 5% White 4% Two or more races 3%
• Foreign-born: 4% · Vietnam, Canada
• Languages at home: 95% English-only · Vietnamese 4% Spanish 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: ▼ -15.51%
• Current HPI: 247.7131
• Rent YoY: —
• Metro: —
• 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

+243.8% since first listed

11 events — show timeline

• 2026-04-16 Price Changed $120,000 AcadianaMLS
• 2026-04-16 Price Changed $120,000 GSREIN
• 2026-03-05 Listed $126,000 GSREIN
• 2026-03-05 Listed $126,000 AcadianaMLS
• 2024-10-21 Price Changed $178,700 AcadianaMLS
• 2024-10-21 Price Changed $178,700 GSREIN
• 2024-09-28 Listed $198,700 AcadianaMLS
• 2007-01-22 Sold (Public Records) $30,000 Public Records
• 1998-12-21 Sold (Public Records) $60,200 Public Records
• 1998-09-10 Listed $59,900 AcadianaMLS
• 1977-06-10 Sold (Public Records) $34,900 Public Records

Property tax history

+1.8%/yr

Latest (2026): $1,428 · +1.1% YoY. Source: county tax records.