3060 Sullen Pl · New Orleans, LA 70131

$169,900

3 bd · 2.0 ba · 1,340 sqft · SingleFamily public records · 51 Days on market

Built 2013 4,800 sqft lot $127/sqft · at area comps Est $177k · at est.

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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 +24.8/30.0
• ARV discount +9.4/15.0
• DSCR +8.0/10.0
• 1% rule +5.4/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Rent growth +0.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SOLD AS IS, SELLER WILL NOT DO ANY REPAIRS; This newly built house awaits you and your personal design, located on the main street offering public bus service, and walking distance to an elementary school. All appliances conveys with the sale. Sold as is, seller will not do any repairs.

Key facts

• Newly built house
• Public bus service
• 4,800 sq ft lot

Tags

• NEWLY BUILT HOUSE
• PUBLIC BUS SERVICE
• ALL APPLIANCES CONVEYS

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Single-story; Raised foundation; Shingle roof
• Construction: Raised foundation; Shingle roof
• Exterior features: City lot; Rectangular lot; Lot dimensions approximately 40 x 120

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Heating present; Cooling present
• Interior features: Seven total rooms; Very good condition

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 falling (-9.2%/yr); 274 active listings in the ZIP; 26 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).
• This rent runs 34% of the median local income ($62k/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 $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 51 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $9k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $170k implies a 1316% 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 $164,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.02%
• DSCR: 1.40
• GRM: 8.0

CMA / ARV

• ARV (median comp): $177,450
• List price: $169,900
• Delta: -4.25%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2941 Kent St	0.19mi	3/2.0	1,350 (+1%)	2mo	$180,000	$133	88
3121 Preston Pl	0.16mi	3/2.0	1,434 (+7%)	0mo	$189,000	$132	81
3421 Dickens Dr	0.21mi	3/2.0	1,431 (+7%)	2mo	$179,900	$126	77
3211 Sullen Pl	0.07mi	3/1.5	1,153 (-14%)	3mo	$159,900	$139	69
216 Rhodes Ave	0.22mi	3/2.0	1,512 (+13%)	0mo	$130,000	$86	68
7054 Tullis Dr	0.55mi	3/2.0	1,290 (-4%)	4mo	$75,000	$58	64
3300 Mansfield Ave	0.28mi	3/2.0	1,200 (-10%)	7mo	$129,900	$108	64
2820 Mansfield Ave	0.27mi	3/1.5	1,209 (-10%)	9mo	$125,000	$103	62
2821 Bacchus Dr	0.44mi	3/2.0	1,232 (-8%)	9mo	$168,000	$136	58
3731 Mansfield Ave	0.43mi	4/1.5 (+1)	1,450 (+8%)	7mo	$50,000	$34	54
3101 Bacchus Dr	0.44mi	4/2.0 (+1)	1,494 (+12%)	2mo	$179,900	$120	54
105 Norland Ave	0.43mi	2/1.0 (-1)	1,222 (-9%)	10mo	$180,000	$147	48

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: -8.4%
• Equity multiple: 0.70×
• Total profit: $-14,190
• Equity at exit: $25,333

10-year hold

• IRR: -3.1%
• Equity multiple: 0.82×
• Total profit: $-8,572
• Equity at exit: $14,690

Cash invested: $47,572 (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 70131

• Home prices YoY: -12.0%
• Rents YoY: -9.2%
• Active inventory: 274
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,768 high
• Mortgage (P&I): −$891
• Tax from tax record: −$77 /mo · $930/yr
• Insurance: −$71
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $291

Break-even live

Break-even rent $1,400

Max offer price $169,900

Occupancy floor 79%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6021 Brighton Pl New Orleans, LA	4.0	3.0	1840	$3,100	$1.68	15d	1	0.36mi
3200 Lancaster St New Orleans, LA	4.0	2.0	1678	$2,200	$1.31	23d	1	0.40mi
3531 Adrian St New Orleans, LA	3.0	2.0	1292	$1,895	$1.47	15d	1	0.57mi
4020 Sullen Pl New Orleans, LA	4.0	2.5	1280	$1,400	$1.09	3d	1	0.62mi
6121 Stratford Pl New Orleans, LA	3.0	2.0	1225	$1,800	$1.47	15d	1	0.66mi
4254 Maple Leaf Dr New Orleans, LA	1.0–3.0	1.0–2.5	1354	$1,687	$1.25	1d	8	0.77mi
3151 Plymouth Pl New Orleans, LA	3.0	1.0	1470	$1,700	$1.16	23d	1	0.99mi
5997 Tullis Dr Unit B New Orleans, LA	3.0	2.0	1003	$1,250	$1.25	23d	1	1.08mi
5997 Tullis Dr Unit B New Orleans, LA	3.0	2.0	1003	$1,250	$1.25	14d	1	1.08mi
5987 Tullis Dr New Orleans, LA	2.0	1.5	1179	$1,150	$0.98	16d	1	1.09mi
5987 Tullis Dr New Orleans, LA	2.0	1.5	1179	$1,100	$0.93	2d	1	1.09mi
3751 Herald St New Orleans, LA	4.0	2.0	1624	$2,150	$1.32	23d	1	1.18mi
4479 Woodland Dr Unit A New Orleans, LA	2.0	2.5	1300	$1,500	$1.15	23d	1	1.19mi
5823 Tullis Dr New Orleans, LA	3.0	1.5	1637	$1,600	$0.98	23d	1	1.27mi
5797 Tullis Dr New Orleans, LA	3.0	1.5	1240	$1,600	$1.29	23d	1	1.29mi
3429 Bryson St New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	23d	1	1.31mi
3408 Bryson St New Orleans, LA	3.0	2.0	1163	$2,200	$1.89	23d	1	1.34mi
5000 Woodland Dr New Orleans, LA	2.0	1.0–2.5	943	$1,457	$1.55	23d	1	1.35mi
3252 Kabel Dr New Orleans, LA	2.0	1.5	1080	$1,300	$1.20	20d	1	1.37mi
3320 Kabel Dr Unit C New Orleans, LA	3.0	2.0	999	$1,100	$1.10	3d	1	1.37mi
3362 Kabel Dr New Orleans, LA	3.0	2.0	1000	$1,250	$1.25	23d	1	1.39mi
3315 Kabel Dr New Orleans, LA	2.0	1.5	975	$1,350	$1.38	23d	1	1.41mi
3317 Kabel Dr New Orleans, LA	2.0	1.5	975	$1,350	$1.38	23d	1	1.41mi
3307 Kabel Dr New Orleans, LA	2.0	1.5	1000	$1,250	$1.25	3d	1	1.41mi
1812 River Oaks Dr New Orleans, LA	3.0	1.0	1148	$1,700	$1.48	2d	1	1.49mi
1812 River Oaks Dr New Orleans, LA	3.0	1.0	1148	$1,700	$1.48	3d	1	1.49mi

Listing history 20 events

1. 2026-06-18
   days on market $169,900 Active 51 DOM
2. 2026-06-17
   days on market $169,900 Active 50 DOM
3. 2026-06-16
   days on market $169,900 Active 49 DOM
4. 2026-06-15
   days on market $169,900 Active 48 DOM
5. 2026-06-13
   days on market $169,900 Active 46 DOM
6. 2026-06-10
   days on market $169,900 Active 43 DOM
7. 2026-06-09
   days on market $169,900 Active 42 DOM
8. 2026-06-08
   days on market $169,900 Active 41 DOM
9. 2026-06-07
   days on market $169,900 Active 40 DOM
10. 2026-06-05
    remarks 287-char remark
11. 2026-06-05
    days on market $169,900 Active 37 DOM
12. 2026-06-03
    days on market $169,900 Active 36 DOM
13. 2026-06-02
    days on market $169,900 Active 35 DOM
14. 2026-06-01
    days on market $169,900 Active 34 DOM
15. 2026-05-31
    days on market $169,900 Active 33 DOM
16. 2026-05-18
    price $169,900 243-char remark

    Show marketing remark (287 chars)

    SOLD AS IS, SELLER WILL NOT DO ANY REPAIRS; This newly built house awaits you and your personal design, located on the main street offering public bus service, and walking distance to an elementary school. All appliances conveys with the sale. Sold as is, seller will not do any repairs.

17. 2026-05-18
    price $169,900 243-char remark

    Show marketing remark (287 chars)

    SOLD AS IS, SELLER WILL NOT DO ANY REPAIRS; This newly built house awaits you and your personal design, located on the main street offering public bus service, and walking distance to an elementary school. All appliances conveys with the sale. Sold as is, seller will not do any repairs.

18. 2026-04-28
    listed $179,000 Active 243-char remark

    Show marketing remark (287 chars)

    SOLD AS IS, SELLER WILL NOT DO ANY REPAIRS; This newly built house awaits you and your personal design, located on the main street offering public bus service, and walking distance to an elementary school. All appliances conveys with the sale. Sold as is, seller will not do any repairs.

19. 2026-04-28
    listed $179,000 Active 243-char remark

    Show marketing remark (287 chars)

    SOLD AS IS, SELLER WILL NOT DO ANY REPAIRS; This newly built house awaits you and your personal design, located on the main street offering public bus service, and walking distance to an elementary school. All appliances conveys with the sale. Sold as is, seller will not do any repairs.

20. 1988-03-17
    soldstatus $12,000

ⓘ 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: $930 · $77/mo
• Projected year-2 tax: $934 · $78/mo
• Expected delta: +$5/yr ($0/mo · 0.5%)

ⓘ 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 · 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,217
• − Mortgage interest: −$9,517
• − Property taxes: −$930
• − Insurance: −$1,647
• − Repairs & maintenance: −$1,697
• − Management: −$1,697
• − Depreciation: −$4,943
• Taxable income: $786
• Est. tax owed @ 24.0%: −$189
• After-tax cash flow: $3,304/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): 25,151
• Household income: $62,389
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 707.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 62% White 20% Hispanic / Latino 11% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Dominican 2%
• Common ancestry: Lithuanian 4% Hispanic 1%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 9% Vietnamese 2% 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: ▼ -28.08%
• Current HPI: 206.7552
• Rent YoY: ▼ -9.23%
• 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

+1315.8% since first listed

5 events — show timeline

• 2026-05-18 Price Changed $169,900 AcadianaMLS
• 2026-05-18 Price Changed $169,900 GSREIN
• 2026-04-28 Listed $179,000 GSREIN
• 2026-04-28 Listed $179,000 AcadianaMLS
• 1988-03-17 Sold (Public Records) $12,000 Public Records

Property tax history

+23.8%/yr

Latest (2026): $930 · +0.0% YoY. Source: county tax records.