2326 Pauger St · New Orleans, LA 70116

$319,999

6 bd · 2.0 ba · 1,932 sqft · SingleFamily public records · 180 Days on market

Built 1921 3,249 sqft lot $166/sqft · 16% above area Est $259k · 24% over

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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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This stunning side hall shotgun style home in the New Marigny has it all - soaring ceilings, beautiful hardwood floors, meticulously updated kitchen and baths, and is freshly painted throughout. The home features three bedrooms, two baths, plus a loft over the primary bedroom, a charming backyard with a covered deck, and low-maintenance landscaping. Enjoy relaxing on the large balcony overlooking the backyard. Unlike many historic homes, this one offers fantastic closets and tons of storage. The pet-friendly yard includes a fence and covering around the raised portion of the house. Do not miss this one - the conscientious owner ensured all work was done very well, not just a quick renovation! The neighborhood features lots of new construction and renovations. It is in close proximity to the French Quarter, CBD, and interstate access.

Key facts

• New construction
• Fantastic closets
• Large balcony

Tags

• UPDATED KITCHEN
• CHARMING BACKYARD
• LARGE BALCONY
• FANTASTIC CLOSETS
• NEW CONSTRUCTION

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $981 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $320k).
• Recommended offer: $282k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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 flat; 350 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,989/mo this rent would consume 92% of the median local household income ($52k/yr) (locally 1001% 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 $2k of loan paydown is wiped out by about $10k 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 180 days — a 12% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 8y ago; this cycle's ask has dropped $30k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1921 — 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 $281,599 (12.0% below list)

Questions for the listing agent

1. It's been on market 180 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 1921 — 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: 1.25% ✓
• Cap rate: 10.22%
• Cash-on-cash: 14.03%
• DSCR: 1.62
• GRM: 6.7

CMA / ARV

• ARV (median comp): $259,037
• List price: $319,999
• Delta: 23.53%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.18% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-326
• Equity at exit: $47,713

10-year hold

• IRR: 6.4%
• Equity multiple: 1.42×
• Total profit: $37,645
• Equity at exit: $27,668

Cash invested: $89,600 (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 70116

• Home prices YoY: -34.5%
• Rents YoY: 0.2%
• Active inventory: 350
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $3,989 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$292 /mo · $3,503/yr
• Insurance: −$133
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$838
• Net cashflow: $981

Break-even live

Break-even rent $2,747

Max offer price $319,999

Occupancy floor 70%

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$8,133	$5.14	3d	2	0.57mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	24d	1	0.64mi

Listing history 40 events

1. 2026-06-18
   days on market $319,999 Active 180 DOM
2. 2026-06-17
   days on market $319,999 Active 179 DOM
3. 2026-06-16
   days on market $319,999 Active 178 DOM
4. 2026-06-15
   days on market $319,999 Active 177 DOM
5. 2026-06-13
   pricedays on market $319,999 Active 175 DOM
6. 2026-06-10
   days on market $339,999 Active 172 DOM
7. 2026-06-09
   days on market $339,999 Active 171 DOM
8. 2026-06-08
   days on market $339,999 Active 170 DOM
9. 2026-06-07
   days on market $339,999 Active 169 DOM
10. 2026-06-05
    days on market $339,999 Active 166 DOM
11. 2026-06-03
    days on market $339,999 Active 165 DOM
12. 2026-06-02
    days on market $339,999 Active 164 DOM
13. 2026-06-01
    days on market $339,999 Active 163 DOM
14. 2026-05-31
    days on market $339,999 Active 162 DOM
15. 2026-04-27
    price $339,999 845-char remark

    Show marketing remark (858 chars)

    This stunning side hall shotgun style home in the New Marigny has it all – soaring ceilings, beautiful hardwood floors, meticulously updated kitchen and baths, and is freshly painted throughout. The home features three bedrooms, two baths, plus a loft over the primary bedroom, a charming backyard with a covered deck, and low-maintenance landscaping. Enjoy relaxing on the large balcony overlooking the backyard. Unlike many historic homes, this one offers fantastic closets and tons of storage. The pet-friendly yard includes a fence and covering around the raised portion of the house. Do not miss this one – the conscientious owner ensured all work was done very well, not just a quick renovation! The neighborhood features lots of new construction and renovations. It is in close proximity to the French Quarter, CBD, and interstate access.

16. 2026-04-27
    price $339,999 858-char remark

    Show marketing remark (858 chars)

    This stunning side hall shotgun style home in the New Marigny has it all – soaring ceilings, beautiful hardwood floors, meticulously updated kitchen and baths, and is freshly painted throughout. The home features three bedrooms, two baths, plus a loft over the primary bedroom, a charming backyard with a covered deck, and low-maintenance landscaping. Enjoy relaxing on the large balcony overlooking the backyard. Unlike many historic homes, this one offers fantastic closets and tons of storage. The pet-friendly yard includes a fence and covering around the raised portion of the house. Do not miss this one – the conscientious owner ensured all work was done very well, not just a quick renovation! The neighborhood features lots of new construction and renovations. It is in close proximity to the French Quarter, CBD, and interstate access.

17. 2025-12-20
    listed $349,999 Active 845-char remark

    Show marketing remark (858 chars)

    This stunning side hall shotgun style home in the New Marigny has it all – soaring ceilings, beautiful hardwood floors, meticulously updated kitchen and baths, and is freshly painted throughout. The home features three bedrooms, two baths, plus a loft over the primary bedroom, a charming backyard with a covered deck, and low-maintenance landscaping. Enjoy relaxing on the large balcony overlooking the backyard. Unlike many historic homes, this one offers fantastic closets and tons of storage. The pet-friendly yard includes a fence and covering around the raised portion of the house. Do not miss this one – the conscientious owner ensured all work was done very well, not just a quick renovation! The neighborhood features lots of new construction and renovations. It is in close proximity to the French Quarter, CBD, and interstate access.

18. 2025-12-20
    listed $349,999 Active 858-char remark

    Show marketing remark (858 chars)

    This stunning side hall shotgun style home in the New Marigny has it all – soaring ceilings, beautiful hardwood floors, meticulously updated kitchen and baths, and is freshly painted throughout. The home features three bedrooms, two baths, plus a loft over the primary bedroom, a charming backyard with a covered deck, and low-maintenance landscaping. Enjoy relaxing on the large balcony overlooking the backyard. Unlike many historic homes, this one offers fantastic closets and tons of storage. The pet-friendly yard includes a fence and covering around the raised portion of the house. Do not miss this one – the conscientious owner ensured all work was done very well, not just a quick renovation! The neighborhood features lots of new construction and renovations. It is in close proximity to the French Quarter, CBD, and interstate access.

19. 2021-11-15
    soldstatus $285,000
20. 2021-11-09
    soldstatus $285,000 Closed
21. 2021-09-24
    status Pending
22. 2021-09-21
    listed $299,000
23. 2021-09-21
    listed $299,000 Active
24. 2021-08-03
    price $285,000
25. 2021-06-11
    price $299,000
26. 2021-05-14
    price $309,000
27. 2021-04-16
    price $329,000
28. 2021-03-08
    listed $285,000
29. 2018-09-10
    soldstatus $29,500
30. 2018-07-01
    historical
31. 2018-05-17
    price $34,900
32. 2018-05-02
    price $35,000
33. 2018-05-02
    status Active
34. 2018-02-16
    status Under Contract
35. 2018-02-16
    price $31,900
36. 2018-02-06
    price $32,100
37. 2018-01-24
    price $32,500
38. 2018-01-20
    price $34,900
39. 2018-01-10
    listed $34,999 Active
40. 2018-01-10
    listed $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: $3,503 · $292/mo
• Projected year-2 tax: $3,503 · $292/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 · 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: $47,865
• − Mortgage interest: −$17,925
• − Property taxes: −$3,503
• − Insurance: −$2,397
• − Repairs & maintenance: −$3,829
• − Management: −$3,829
• − Depreciation: −$9,309
• Taxable income: $7,072
• Est. tax owed @ 24.0%: −$1,697
• After-tax cash flow: $10,078/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): 10,404
• Household income: $52,306
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 1001.0

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 0.63)
• Race & ethnicity: White 45% Black 40% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Mexican 1% Cuban 3%
• Common ancestry: Lithuanian 6% Slovak 3% Romanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 2%

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: ▼ -144.83%
• Current HPI: 275.5453
• Rent YoY: ▲ 0.18%
• 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

+871.5% since first listed

26 events — show timeline

• 2026-04-27 Price Changed $339,999 AcadianaMLS
• 2026-04-27 Price Changed $339,999 GSREIN
• 2025-12-20 Listed $349,999 GSREIN
• 2025-12-20 Listed $349,999 AcadianaMLS
• 2021-11-15 Sold (Public Records) $285,000 Public Records
• 2021-11-09 Sold (MLS) $285,000 GSREIN
• 2021-09-24 Pending — GSREIN
• 2021-09-21 Listed $299,000 GSREIN
• 2021-09-21 Listed $299,000 AcadianaMLS
• 2021-08-03 Price Changed $285,000 GSREIN
• 2021-06-11 Price Changed $299,000 GSREIN
• 2021-05-14 Price Changed $309,000 GSREIN
• 2021-04-16 Price Changed $329,000 GSREIN
• 2021-03-08 Listed $285,000 AcadianaMLS
• 2018-09-10 Sold (Public Records) $29,500 Public Records
• 2018-07-01 Listing Removed — GSREIN
• 2018-05-17 Price Changed $34,900 GSREIN
• 2018-05-02 Price Changed $35,000 GSREIN
• 2018-05-02 Relisted — GSREIN
• 2018-02-16 Pending — GSREIN
• 2018-02-16 Price Changed $31,900 GSREIN
• 2018-02-06 Price Changed $32,100 GSREIN
• 2018-01-24 Price Changed $32,500 GSREIN
• 2018-01-20 Price Changed $34,900 GSREIN
• 2018-01-10 Listed $34,900 AcadianaMLS
• 2018-01-10 Listed $34,999 GSREIN

Property tax history

+26.1%/yr

Latest (2026): $3,503 · +1.1% YoY. Source: county tax records.