2413 New Orleans St · New Orleans, LA 70119

$160,000

2 bd · 1.5 ba · 989 sqft · SingleFamily public records · 61 Days on market

Built 1960 2,818 sqft lot $162/sqft · 11% below area Est $189k · 15% under

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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 +18.1/30.0
• ARV discount +14.3/15.0
• DSCR +5.7/10.0
• 1% rule +4.3/10.0
• 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

OPEN HOUSE - Wednesday May 6, 12-2pm Updated and Move-In Ready 3BD/2BA Cottage With 100% Financing, No PMI & $5,000 Closing Cost Grant! Homeownership is finally affordable! This beautifully updated 3 bedroom, 2 bathroom cottage features a spacious primary bedroom with en-suite bath and double closets, offering comfort and convenience in a smart, efficient layout. And so much is NEW! Enjoy peace of mind with new hardboard (NOT vinyl) siding, fresh interior and exterior paint, new luxury vinyl plank flooring, new windows, new lighting, and new doors throughout. Outside, the home continues to impress with gated off-street parking, new shoring, a refreshed storage shed, a new patio, and a nice-sized backyard ready for gardening, play, or entertaining. Plus, the sellers will even provide a NEW ROOF with an acceptable offer, adding incredible value. With modern updates, great outdoor space, a block with new construction, and unbeatable financing options, this property is an opportunity you don’t want to miss.

Key facts

• New lighting
• New patio
• New doors

Tags

• GATED OFF-STREET PARKING
• NEW HARDBOARD SIDING
• NEW WINDOWS
• NEW LIGHTING
• NEW DOORS
• NEW PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $74 ($888/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (7.0% below list).
• Recommended offer: $149k (7.0% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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.
• Market conditions: Rents soft (-0.2%/yr); 381 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 ($53k/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 61 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 20y 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 $95k; list at $160k implies a 68% 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 $148,764 (7.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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: 0.93% ✗
• Cap rate: 7.35%
• Cash-on-cash: 3.76%
• DSCR: 1.17
• GRM: 9.0

CMA / ARV

• ARV (median comp): $188,531
• List price: $160,000
• Delta: -15.13%
• 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
2037 Saint Anthony St	0.33mi	2/1.0	960 (-3%)	4mo	$126,000	$131	75
2413 New Orleans St	0.00mi	3/2.0 (+1)	1,035 (+5%)	17mo	$95,000	$92	71
1714 Aubry St	0.40mi	3/1.0 (+1)	1,008 (+2%)	3mo	$73,000	$72	68
2633 New Orleans St	0.18mi	3/1.0 (+1)	925 (-6%)	12mo	$45,000	$49	64
3114 Pauger St	0.25mi	3/2.0 (+1)	1,017 (+3%)	15mo	$155,750	$153	64
2227 D'abadie St	0.33mi	3/2.0 (+1)	1,080 (+9%)	7mo	$215,000	$199	57
2115 Laharpe St	0.54mi	2/1.5	898 (-9%)	4mo	$249,900	$278	56
1714 N Broad St	0.45mi	2/3.0	912 (-8%)	10mo	$245,000	$269	52
1606 N Broad St	0.56mi	1/2.0 (-1)	1,079 (+9%)	2mo	$180,000	$167	50
2215 Mandeville St	0.65mi	3/2.0 (+1)	1,067 (+8%)	3mo	$85,000	$80	47
2317 Florida Ave	0.73mi	2/1.0	845 (-15%)	1mo	$64,900	$77	39
3721 Pauger St	0.57mi	3/2.0 (+1)	1,125 (+14%)	16mo	$173,000	$154	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.43×
• Total profit: $-25,552
• Equity at exit: $23,857

10-year hold

• IRR: -14.9%
• Equity multiple: 0.26×
• Total profit: $-32,948
• Equity at exit: $13,834

Cash invested: $44,800 (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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,488 high
• Mortgage (P&I): −$839
• Tax from tax record: −$129 /mo · $1,548/yr
• Insurance: −$67
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $74

Break-even live

Break-even rent $1,394

Max offer price $160,000

Occupancy floor 90%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2305 A P Tureaud Ave Unit 2307 A P Tureaud New Orleans, LA	3.0	2.0	700	$2,112	$3.02	23d	1	0.13mi
1996 Hope St New Orleans, LA	3.0	1.0	910	$1,550	$1.70	3d	1	0.16mi
2432 Saint Anthony St New Orleans, LA	2.0	1.0	768	$1,300	$1.69	14d	1	0.19mi
2434 Saint Anthony St New Orleans, LA	2.0	1.0	768	$1,300	$1.69	14d	1	0.19mi
2510 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	2d	1	0.20mi
2510 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	3d	1	0.20mi
2514 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	3d	1	0.20mi
2514 Saint Anthony St New Orleans, LA	2.0	1.0	850	$1,500	$1.76	2d	1	0.20mi
1765 N Tonti St Unit 1767 New Orleans, LA	1.0	1.0	693	$1,295	$1.87	1d	1	0.22mi
2310 George Nick Connor Dr New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	23d	1	0.23mi
1776 N Miro St New Orleans, LA	2.0	1.0	700	$1,100	$1.57	23d	1	0.23mi
2311 Saint Anthony St Unit 1B New Orleans, LA	2.0	1.0	750	$1,350	$1.80	23d	1	0.24mi
2311 Saint Anthony St Unit 1A New Orleans, LA	2.0	1.0	1100	$1,450	$1.32	23d	1	0.24mi
2239 Saint Anthony St New Orleans, LA	2.0	1.0	900	$1,100	$1.22	23d	1	0.25mi
3110 Pauger St New Orleans, LA	2.0	2.0	992	$1,300	$1.31	23d	1	0.26mi
2109 A P Tureaud Ave New Orleans, LA	2.0	1.0	936	$1,450	$1.55	14d	1	0.26mi
3230 Pauger St New Orleans, LA	1.0	1.0	600	$1,200	$2.00	23d	1	0.27mi
1739 Duels St New Orleans, LA	2.0	1.0	768	$1,450	$1.89	23d	1	0.29mi
1737 Duels St New Orleans, LA	2.0	1.0	768	$1,450	$1.89	23d	1	0.29mi
1922 Industry St Unit B New Orleans, LA	2.0	2.0	963	$1,325	$1.38	1d	1	0.30mi
2817 Annette St New Orleans, LA	3.0	1.0	1100	$1,350	$1.23	23d	1	0.30mi
2130 N Broad St Unit 1A New Orleans, LA	2.0	1.0	925	$1,500	$1.62	23d	1	0.32mi
2741 Bruxelles St New Orleans, LA	2.0	1.0	732	$1,500	$2.05	3d	1	0.41mi
2741 Bruxelles St New Orleans, LA	2.0	1.0	732	$1,500	$2.05	2d	1	0.41mi
1818 Paul Morphy St Unit B New Orleans, LA	3.0	2.0	1065	$1,800	$1.69	23d	1	0.43mi
2525 D'Abadie St Unit 2525 New Orleans, LA	2.0	1.0	1000	$1,500	$1.50	19d	1	0.43mi
2525 D'Abadie St New Orleans, LA	2.0	1.0	960	$1,400	$1.46	19d	1	0.43mi
1636 N Miro St New Orleans, LA	1.0	1.0	600	$1,295	$2.16	14d	1	0.44mi
1636 N Miro St New Orleans, LA	1.0	1.0	600	$1,295	$2.16	3d	1	0.44mi
2632 Oreilly St New Orleans, LA	3.0	1.5	950	$1,450	$1.53	23d	1	0.45mi
2025 N Johnson St New Orleans, LA	3.0	1.0	650	$1,350	$2.08	23d	1	0.45mi
1634 N Rocheblave St New Orleans, LA	2.0	1.0	900	$1,400	$1.56	23d	1	0.45mi
1811 New Orleans St New Orleans, LA	2.0	2.0	900	$1,700	$1.89	2d	1	0.45mi
2512 Elysian Fields Ave Unit C New Orleans, LA	2.0	1.0	800	$1,300	$1.62	3d	1	0.46mi
2512 Elysian Fields Ave Unit C New Orleans, LA	2.0	1.0	800	$1,300	$1.62	2d	1	0.46mi
2512 Elysian Fields Ave Unit 1 New Orleans, LA	2.0	1.0	879	$1,400	$1.59	16d	1	0.46mi
1627 N Johnson St New Orleans, LA	2.0	1.0	841	$1,250	$1.49	23d	1	0.47mi
2817 Paris Ave New Orleans, LA	3.0	1.0	1018	$1,700	$1.67	20d	1	0.49mi
1730 Allen St New Orleans, LA	2.0	1.0	920	$1,650	$1.79	23d	1	0.50mi
2910 Bruxelles St New Orleans, LA	3.0	2.0	1074	$1,600	$1.49	3d	1	0.50mi

Listing history 33 events

1. 2026-06-05
   days on market $160,000 Active 61 DOM
2. 2026-06-03
   days on market $160,000 Active 60 DOM
3. 2026-06-02
   days on market $160,000 Active 59 DOM
4. 2026-06-01
   days on market $160,000 Active 58 DOM
5. 2026-05-31
   days on market $160,000 Active 57 DOM
6. 2026-04-04
   listed $160,000 Active 1031-char remark

   Show marketing remark (1022 chars)

   OPEN HOUSE - Wednesday May 6, 12-2pm Updated and Move-In Ready 3BD/2BA Cottage With 100% Financing, No PMI & $5,000 Closing Cost Grant! Homeownership is finally affordable! This beautifully updated 3 bedroom, 2 bathroom cottage features a spacious primary bedroom with en-suite bath and double closets, offering comfort and convenience in a smart, efficient layout. And so much is NEW! Enjoy peace of mind with new hardboard (NOT vinyl) siding, fresh interior and exterior paint, new luxury vinyl plank flooring, new windows, new lighting, and new doors throughout. Outside, the home continues to impress with gated off-street parking, new shoring, a refreshed storage shed, a new patio, and a nice-sized backyard ready for gardening, play, or entertaining. Plus, the sellers will even provide a NEW ROOF with an acceptable offer, adding incredible value. With modern updates, great outdoor space, a block with new construction, and unbeatable financing options, this property is an opportunity you don't want to miss.

7. 2026-04-04
   listed $160,000 Active 1022-char remark

   Show marketing remark (1022 chars)

   OPEN HOUSE - Wednesday May 6, 12-2pm Updated and Move-In Ready 3BD/2BA Cottage With 100% Financing, No PMI & $5,000 Closing Cost Grant! Homeownership is finally affordable! This beautifully updated 3 bedroom, 2 bathroom cottage features a spacious primary bedroom with en-suite bath and double closets, offering comfort and convenience in a smart, efficient layout. And so much is NEW! Enjoy peace of mind with new hardboard (NOT vinyl) siding, fresh interior and exterior paint, new luxury vinyl plank flooring, new windows, new lighting, and new doors throughout. Outside, the home continues to impress with gated off-street parking, new shoring, a refreshed storage shed, a new patio, and a nice-sized backyard ready for gardening, play, or entertaining. Plus, the sellers will even provide a NEW ROOF with an acceptable offer, adding incredible value. With modern updates, great outdoor space, a block with new construction, and unbeatable financing options, this property is an opportunity you don't want to miss.

8. 2026-02-03
   price $145,000
9. 2026-02-02
   price $145,000
10. 2025-11-26
    price $154,000
11. 2025-11-26
    price $154,000
12. 2025-10-29
    price $159,000
13. 2025-10-29
    price $159,000
14. 2025-10-01
    price $164,000
15. 2025-10-01
    price $164,000
16. 2025-09-16
    listed $169,000 Active
17. 2025-09-16
    listed $169,000 Active
18. 2025-01-16
    soldstatus $95,000 Closed
19. 2025-01-16
    soldstatus $95,000
20. 2025-01-03
    historical Active Under Contract
21. 2024-12-26
    listed $99,000 Active
22. 2024-12-26
    listed $99,000 Active
23. 2015-01-15
    soldstatus $55,000
24. 2015-01-09
    soldstatus $55,000
25. 2014-08-30
    listed $59,500
26. 2014-08-30
    listed $59,500
27. 2014-05-15
    listed $64,500
28. 2014-05-15
    listed $64,500
29. 2007-08-24
    soldstatus $99,550
30. 2007-02-26
    soldstatus $32,500
31. 2007-02-16
    soldstatus $32,500
32. 2006-08-04
    listed $49,000
33. 2006-08-04
    listed $49,000

ⓘ 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: $1,548 · $129/mo
• Projected year-2 tax: $1,548 · $129/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) · 77% 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: $17,852
• − Mortgage interest: −$8,962
• − Property taxes: −$1,548
• − Insurance: −$1,598
• − Repairs & maintenance: −$1,428
• − Management: −$1,428
• − Depreciation: −$4,655
• Taxable loss: −$1,767
• Est. tax savings @ 24.0%: +$424
• After-tax cash flow: $1,312/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): 37,253
• Household income: $53,143
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3381.0

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 0.64)
• Race & ethnicity: Black 44% White 40% Two or more races 10% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 0%

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: ▼ -135.38%
• Current HPI: 253.1929
• Rent YoY: ▼ -0.20%
• 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

+226.5% since first listed

28 events — show timeline

• 2026-04-04 Listed $160,000 AcadianaMLS
• 2026-04-04 Listed $160,000 GSREIN
• 2026-02-03 Price Changed $145,000 AcadianaMLS
• 2026-02-02 Price Changed $145,000 GSREIN
• 2025-11-26 Price Changed $154,000 AcadianaMLS
• 2025-11-26 Price Changed $154,000 GSREIN
• 2025-10-29 Price Changed $159,000 AcadianaMLS
• 2025-10-29 Price Changed $159,000 GSREIN
• 2025-10-01 Price Changed $164,000 AcadianaMLS
• 2025-10-01 Price Changed $164,000 GSREIN
• 2025-09-16 Listed $169,000 AcadianaMLS
• 2025-09-16 Listed $169,000 AcadianaMLS
• 2025-01-16 Sold (Public Records) $95,000 Public Records
• 2025-01-16 Sold (MLS) $95,000 GSREIN
• 2025-01-03 Contingent — GSREIN
• 2024-12-26 Listed $99,000 AcadianaMLS
• 2024-12-26 Listed $99,000 GSREIN
• 2015-01-15 Sold (Public Records) $55,000 Public Records
• 2015-01-09 Sold (MLS) $55,000 GSREIN
• 2014-08-30 Listed $59,500 AcadianaMLS
• 2014-08-30 Listed $59,500 GSREIN
• 2014-05-15 Listed $64,500 GSREIN
• 2014-05-15 Listed $64,500 AcadianaMLS
• 2007-08-24 Sold (Public Records) $99,550 Public Records
• 2007-02-26 Sold (Public Records) $32,500 Public Records
• 2007-02-16 Sold (MLS) $32,500 GSREIN
• 2006-08-04 Listed $49,000 AcadianaMLS
• 2006-08-04 Listed $49,000 GSREIN

Property tax history

+12.0%/yr

Latest (2026): $1,548 · +1.1% YoY. Source: county tax records.