1330 Independence St · New Orleans, LA 70117

$184,000

2 bd · 1.0 ba · 810 sqft · SingleFamily public records · 500 Days on market

Built 1960 3,036 sqft lot $227/sqft · 22% below area Est $236k · 22% under ↓ 16% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +13.5/30.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 3-bedroom, 1-bathroom brick home is great for those looking for a low-maintenance property with modern updates. The brick exterior ensures easy upkeep, while the updated kitchen offers a contemporary space for cooking and entertaining. Inside, you'll find beautiful wood floors throughout, adding warmth and character to the home. A spacious workshop in the backyard provides ample storage or a dedicated space for DIY projects. Off-street parking adds convenience, and the home's location is a real highlight--just a short distance from Crescent Park and the Riverfront, offering plenty of outdoor activities and scenic views.

Key facts

• Brick exterior
• Wood floors
• Spacious workshop

Tags

• BRICK EXTERIOR
• UPDATED KITCHEN
• WOOD FLOORS
• SPACIOUS WORKSHOP
• OFF-STREET PARKING
• SHORT DISTANCE FROM RIVERFRONT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $184k.

Deal economics

• At list price, monthly cash flow is $-60 ($-716/yr) — negative.
• To cash-flow at today's rent, offer at most $173k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (21.5% below list).
• Recommended offer: $144k (21.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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 rising (+2.5%/yr); 587 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 38% of the median local income ($46k/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 500 days — a 12% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $36k (16%) 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.
• 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 $144,462 (21.5% 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. It's been on market 500 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.79% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.16%
• DSCR: 1.01
• GRM: 10.6

CMA / ARV

• ARV (median comp): $236,434
• List price: $184,000
• Delta: -22.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1115 Congress St	0.15mi	2/1.0	840 (+4%)	16mo	$225,000	$268	74
724 Congress St	0.44mi	2/1.0	790 (-2%)	21mo	$299,000	$378	58
3069 Royal St	0.60mi	2/1.0	792 (-2%)	13mo	$350,000	$442	58
3618 N Rampart St	0.28mi	2/1.0	872 (+8%)	20mo	$299,000	$343	58
3918 N Robertson St	0.17mi	2/1.0	896 (+11%)	24mo	$167,500	$187	54
3039 N Galvez St	0.70mi	2/1.0	838 (+4%)	15mo	$112,000	$134	49
2232 Desire St	0.69mi	2/2.0	821 (+1%)	15mo	$169,000	$206	49
1500 Lesseps St	0.36mi	2/1.0	926 (+14%)	17mo	$130,000	$140	45
2719 N Roman St	0.73mi	2/1.0	898 (+11%)	21mo	$110,210	$123	30

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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.33×
• Total profit: $-34,376
• Equity at exit: $27,435

10-year hold

• IRR: -12.8%
• Equity multiple: 0.26×
• Total profit: $-37,911
• Equity at exit: $15,909

Cash invested: $51,520 (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 70117

• Rents YoY: 2.5%
• Active inventory: 587
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,445 high
• Mortgage (P&I): −$965
• Tax from tax record: −$93 /mo · $1,115/yr
• Insurance: −$77
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $-60

Break-even live

Break-even rent $1,520

Max offer price $173,459

Occupancy floor 99%

Sensitivity live

Price	-10% $44	-5% $-8	+0% $-60	+5% $-112	+10% $-164
Rent	-10% $-174	-5% $-117	+0% $-60	+5% $-3	+10% $54
Rate	-1.0pp $33	-0.5pp $-13	base $-60	+0.5pp $-107	+1.0pp $-156

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: $46,000
• Closing costs: $5,520
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1310 Bartholomew St Unit 1310 New Orleans, LA	1.0	1.0	637	$1,150	$1.81	25d	1	0.14mi
1211 Gallier St New Orleans, LA	2.0	1.0	900	$1,000	$1.11	25d	1	0.15mi
1121 Bartholomew St Unit 1121 New Orleans, LA	2.0	1.0	893	$2,000	$2.24	25d	1	0.23mi
1628 Bartholomew St New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	25d	1	0.25mi
1634 Bartholomew St New Orleans, LA	2.0	1.0	900	$1,300	$1.44	25d	1	0.26mi
1319 France St New Orleans, LA	2.0	1.0	923	$975	$1.06	23d	1	0.27mi
1713 Gallier St Unit B New Orleans, LA	2.0	1.0	1000	$1,099	$1.10	25d	1	0.28mi
1715 Gallier St Unit B New Orleans, LA	2.0	1.0	1000	$1,099	$1.10	25d	1	0.28mi
3912 N Rampart St Unit 3912 New Orleans, LA	2.0	1.0	800	$1,500	$1.88	25d	1	0.32mi
2612 14 Urquhart St New Orleans, LA	1.0	1.0	900	$1,200	$1.33	22d	1	0.32mi
3133 N Villere St New Orleans, LA	2.0	1.0	715	$1,250	$1.75	25d	1	0.34mi
1614 Louisa St New Orleans, LA	2.0	1.0	733	$1,100	$1.50	25d	1	0.35mi
3421 Burgundy St New Orleans, LA	2.0	2.0	1120	$3,000	$2.68	25d	1	0.37mi
1217 Clouet St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	25d	1	0.39mi
1225 Clouet St Unit 1225 New Orleans, LA	2.0	2.0	900	$1,600	$1.78	25d	1	0.40mi
3121 Saint Claude Ave Unit A New Orleans, LA	1.0	1.0	600	$900	$1.50	25d	1	0.40mi
935 Louisa St New Orleans, LA	1.0	1.0	810	$1,500	$1.85	25d	1	0.41mi
933 Louisa St New Orleans, LA	2.0	1.0	800	$1,700	$2.12	25d	1	0.41mi
1244 Clouet St New Orleans, LA	2.0	1.0	950	$1,500	$1.58	25d	1	0.41mi
3425 Dauphine St New Orleans, LA	2.0	1.5	840	$1,800	$2.14	22d	1	0.43mi
734 Alvar St New Orleans, LA	2.0	1.0	925	$1,900	$2.05	25d	1	0.45mi
3125 Industrial Ct New Orleans, LA	2.0	2.5	1100	$1,450	$1.32	25d	1	0.45mi
1703 Clouet St New Orleans, LA	2.0	1.0	650	$1,200	$1.85	18d	1	0.45mi
1019 Clouet St New Orleans, LA	2.0	1.0	880	$1,700	$1.93	25d	1	0.47mi
4318 N Rampart St New Orleans, LA	2.0	1.0	750	$1,100	$1.47	25d	1	0.47mi
718 Congress St Unit 718 New Orleans, LA	2.0	1.0	1000	$1,490	$1.49	22d	1	0.47mi
3027 Saint Claude Ave Unit B New Orleans, LA	1.0	1.0	784	$1,795	$2.29	25d	1	0.49mi
4543 Urquhart St Unit B New Orleans, LA	2.0	1.0	700	$1,150	$1.64	13d	1	0.51mi
1942 Piety St New Orleans, LA	3.0	1.0	1100	$1,500	$1.36	25d	1	0.51mi
4545 Urquhart St Unit B New Orleans, LA	2.0	1.0	700	$1,150	$1.64	25d	1	0.51mi
3900 Royal St Unit 1B New Orleans, LA	1.0	1.0	690	$1,650	$2.39	25d	1	0.51mi
4222 N Johnson St New Orleans, LA	3.0	2.0	1100	$1,895	$1.72	25d	1	0.53mi
924 Kentucky St New Orleans, LA	2.0	1.0	1102	$1,700	$1.54	5d	1	0.54mi
4217 N Johnson St New Orleans, LA	3.0	2.0	904	$1,650	$1.83	25d	1	0.56mi
2019 Louisa St New Orleans, LA	3.0	1.0	750	$1,500	$2.00	19d	1	0.56mi
2017 Louisa St New Orleans, LA	3.0	1.0	750	$1,300	$1.73	19d	1	0.56mi
623 France St New Orleans, LA	2.0	2.0	982	$2,600	$2.65	45d	1	0.59mi
3201 N Galvez St Unit 2B New Orleans, LA	2.0	1.0	700	$1,250	$1.79	25d	1	0.61mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	5d	1	0.61mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	5d	1	0.61mi

Listing history 21 events

1. 2026-06-21
   days on market $184,000 Active 500 DOM
2. 2026-06-18
   days on market $184,000 Active 497 DOM
3. 2026-06-17
   days on market $184,000 Active 496 DOM
4. 2026-06-16
   days on market $184,000 Active 495 DOM
5. 2026-06-15
   days on market $184,000 Active 494 DOM
6. 2026-06-13
   days on market $184,000 Active 492 DOM
7. 2026-06-10
   days on market $184,000 Active 489 DOM
8. 2026-06-09
   days on market $184,000 Active 488 DOM
9. 2026-06-08
   days on market $184,000 Active 487 DOM
10. 2026-06-07
    days on market $184,000 Active 486 DOM
11. 2026-06-05
    days on market $184,000 Active 483 DOM
12. 2026-06-03
    days on market $184,000 Active 482 DOM
13. 2026-06-02
    days on market $184,000 Active 481 DOM
14. 2026-06-01
    days on market $184,000 Active 480 DOM
15. 2026-05-31
    days on market $184,000 Active 479 DOM
16. 2026-02-18
    price $184,000 641-char remark

    Show marketing remark (652 chars)

    This charming 3-bedroom, 1-bathroom brick home is great for those looking for a low-maintenance property with modern updates. The brick exterior ensures easy upkeep, while the updated kitchen offers a contemporary space for cooking and entertaining. Inside, you'll find beautiful wood floors throughout, adding warmth and character to the home. A spacious workshop in the backyard provides ample storage or a dedicated space for DIY projects. Off-street parking adds convenience, and the home’s location is a real highlight—just a short distance from Crescent Park and the Riverfront, offering plenty of outdoor activities and scenic views.

17. 2026-02-18
    price $184,000 652-char remark

    Show marketing remark (652 chars)

    This charming 3-bedroom, 1-bathroom brick home is great for those looking for a low-maintenance property with modern updates. The brick exterior ensures easy upkeep, while the updated kitchen offers a contemporary space for cooking and entertaining. Inside, you'll find beautiful wood floors throughout, adding warmth and character to the home. A spacious workshop in the backyard provides ample storage or a dedicated space for DIY projects. Off-street parking adds convenience, and the home’s location is a real highlight—just a short distance from Crescent Park and the Riverfront, offering plenty of outdoor activities and scenic views.

18. 2025-07-02
    price $199,000 641-char remark

    Show marketing remark (652 chars)

    This charming 3-bedroom, 1-bathroom brick home is great for those looking for a low-maintenance property with modern updates. The brick exterior ensures easy upkeep, while the updated kitchen offers a contemporary space for cooking and entertaining. Inside, you'll find beautiful wood floors throughout, adding warmth and character to the home. A spacious workshop in the backyard provides ample storage or a dedicated space for DIY projects. Off-street parking adds convenience, and the home’s location is a real highlight—just a short distance from Crescent Park and the Riverfront, offering plenty of outdoor activities and scenic views.

19. 2025-07-02
    price $199,000 652-char remark

    Show marketing remark (652 chars)

    This charming 3-bedroom, 1-bathroom brick home is great for those looking for a low-maintenance property with modern updates. The brick exterior ensures easy upkeep, while the updated kitchen offers a contemporary space for cooking and entertaining. Inside, you'll find beautiful wood floors throughout, adding warmth and character to the home. A spacious workshop in the backyard provides ample storage or a dedicated space for DIY projects. Off-street parking adds convenience, and the home’s location is a real highlight—just a short distance from Crescent Park and the Riverfront, offering plenty of outdoor activities and scenic views.

20. 2025-02-06
    listed $220,000 Active 641-char remark

    Show marketing remark (652 chars)

    This charming 3-bedroom, 1-bathroom brick home is great for those looking for a low-maintenance property with modern updates. The brick exterior ensures easy upkeep, while the updated kitchen offers a contemporary space for cooking and entertaining. Inside, you'll find beautiful wood floors throughout, adding warmth and character to the home. A spacious workshop in the backyard provides ample storage or a dedicated space for DIY projects. Off-street parking adds convenience, and the home’s location is a real highlight—just a short distance from Crescent Park and the Riverfront, offering plenty of outdoor activities and scenic views.

21. 2025-02-06
    listed $220,000 Active 652-char remark

    Show marketing remark (652 chars)

    This charming 3-bedroom, 1-bathroom brick home is great for those looking for a low-maintenance property with modern updates. The brick exterior ensures easy upkeep, while the updated kitchen offers a contemporary space for cooking and entertaining. Inside, you'll find beautiful wood floors throughout, adding warmth and character to the home. A spacious workshop in the backyard provides ample storage or a dedicated space for DIY projects. Off-street parking adds convenience, and the home’s location is a real highlight—just a short distance from Crescent Park and the Riverfront, offering plenty of outdoor activities and scenic views.

ⓘ 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: $1,115 · $93/mo
• Projected year-2 tax: $1,115 · $93/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 ≥108°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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,335
• − Mortgage interest: −$10,307
• − Property taxes: −$1,115
• − Insurance: −$1,718
• − Repairs & maintenance: −$1,387
• − Management: −$1,387
• − Depreciation: −$5,353
• Taxable loss: −$3,930
• Est. tax savings @ 24.0%: +$943
• After-tax cash flow: $227/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): 25,652
• Household income: $45,764
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1988.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 30% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 5% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 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: ▼ -177.22%
• Current HPI: 184.6061
• Rent YoY: ▲ 2.49%
• 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

-16.4% since first listed

6 events — show timeline

• 2026-02-18 Price Changed $184,000 AcadianaMLS
• 2026-02-18 Price Changed $184,000 GSREIN
• 2025-07-02 Price Changed $199,000 AcadianaMLS
• 2025-07-02 Price Changed $199,000 GSREIN
• 2025-02-06 Listed $220,000 GSREIN
• 2025-02-06 Listed $220,000 AcadianaMLS

Property tax history

+28.1%/yr

Latest (2026): $1,115 · +1.1% YoY. Source: county tax records.