2919 Memorial Park Dr · New Orleans, LA 70114

$111,000

3 bd · 1.0 ba · 1,073 sqft · SingleFamily public records · 63 Days on market

Built 1993 $103/sqft · 49% below area Est $217k · 49% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the heart of Algiers on the Westbank. Well-maintained 2-bedroom, 1-bath home with a spacious floor plan, great for a starter home or those looking to downsize in comfort. This home features a spacious living area, a newly installed dishwasher, updated window units, and a large primary bedroom with a custom spacious closet and private access to the full bath. The roomy bathroom offers both style and functionality, and the laundry area with washer and dryer hookups. The roof is only 6 years old. Rare bonus: the property sits on two lots and includes a detached 2-bedroom, 1-bath 530 Sqft dwelling in the backyard complete with its own water heater and shower. Whether used as a guesthouse, private office, or potential rental, the possibilities are endless. Spacious yard, long driveway, and a porch seating area. Quick access to shops, dining, and downtown New Orleans.

Key facts

• Parking
• Built 1993
• Listed 63 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $111k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $111k).
• Recommended offer: $104k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.2% 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 soft (-0.7%/yr); 265 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $1,653/mo this rent would consume 46% of the median local household income ($43k/yr) (locally 2240% 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 $767 of loan paydown is wiped out by about $3k 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 63 days — a 6% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $104,340 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.49% ✓
• Cap rate: 13.22%
• Cash-on-cash: 24.73%
• DSCR: 2.10
• GRM: 5.6

CMA / ARV

• ARV (median comp): $217,478
• List price: $111,000
• Delta: -48.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2466 Behrman Hwy	0.34mi	3/2.0	1,117 (+4%)	8mo	$139,000	$124	66
2123 Browning Ln	0.70mi	3/1.5	1,073 (0%)	0mo	$155,000	$144	65
2122 N Butterfly Cir	0.75mi	4/1.5 (+1)	1,225 (+14%)	1mo	$216,320	$177	34
144 Pinewood Ct	0.74mi	3/2.5	1,120 (+4%)	23mo	$93,000	$83	33

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: -8.2%
• Equity multiple: 0.71×
• Total profit: $-8,985
• Equity at exit: $16,550

10-year hold

• IRR: -4.8%
• Equity multiple: 0.74×
• Total profit: $-8,092
• Equity at exit: $9,597

Cash invested: $31,080 (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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,653 high
• Mortgage (P&I): −$582
• Tax from tax record: −$37 /mo · $444/yr
• Insurance: −$46
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $214

Break-even live

Break-even rent $1,382

Max offer price $111,000

Occupancy floor 82%

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: $27,750
• Closing costs: $3,330
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2002 Pace Blvd Unit 103 New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	14d	1	0.59mi
1945 Pace Blvd Apt 101 New Orleans, LA	2.0	1.0	1000	$1,250	$1.25	10d	1	0.59mi
1945 Pace Blvd Unit 104 New Orleans, LA	2.0	1.0	1000	$1,250	$1.25	23d	1	0.59mi
2243 Kraft Pl New Orleans, LA	2.0	1.0	865	$1,200	$1.39	23d	1	0.61mi
2123 Browning Ln Terrytown, LA	3.0	1.5	1073	$1,650	$1.54	2d	1	0.71mi
3725 Macarthur Blvd Unit 2A New Orleans, LA	2.0	2.0	1200	$2,750	$2.29	19d	1	0.72mi
1719 Pace Blvd New Orleans, LA	3.0	1.0	1178	$2,000	$1.70	11d	1	0.79mi
241 Helen St Unit 4D Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	43d	1	0.79mi
241 Helen St Unit 3c Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	21d	1	0.79mi
310 Coral Ave Gretna, LA	3.0	1.5	1216	$1,750	$1.44	23d	1	0.80mi
3000 Americus St New Orleans, LA	3.0	2.0	1280	$1,400	$1.09	23d	1	0.86mi
423 E Butterfly Cir Terrytown, LA	3.0	1.5	1189	$1,500	$1.26	23d	1	0.87mi
349 Cherry Blossom Ln Terrytown, LA	3.0	1.5	1225	$1,600	$1.31	23d	1	0.88mi
429 E Butterfly Cir Terrytown, LA	3.0	1.5	1300	$1,650	$1.27	23d	1	0.90mi
429 E Butterfly Cir Terrytown, LA	3.0	1.5	1300	$1,950	$1.50	21d	1	0.90mi
721 Hinyub Ave Unit D Gretna, LA	2.0	1.5	1200	$1,250	$1.04	43d	1	0.93mi
1225 Truxton St Unit 21 Gretna, LA	2.0	2.0	1000	$1,075	$1.07	23d	1	0.94mi
1625 Lauradale Dr New Orleans, LA	3.0	2.0	1029	$1,700	$1.65	3d	1	0.97mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	1d	1	0.98mi
1810 Stumpf Blvd Gretna, LA	3.0	1.0	1000	$1,650	$1.65	43d	1	0.99mi
127 Hawkins St Terrytown, LA	2.0	1.0	989	$1,100	$1.11	44d	1	1.00mi
913 Milton St Gretna, LA	3.0	1.0	1061	$2,800	$2.64	43d	1	1.06mi
1014 Van Trump St Gretna, LA	2.0	2.0	932	$1,750	$1.88	21d	1	1.06mi
1565 Murl St Unit B New Orleans, LA	2.0	2.0	1100	$1,100	$1.00	23d	1	1.06mi
735 Lees Ln Unit 2 New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	23d	1	1.08mi
2100 Stumpf Blvd Terrytown, LA	3.0	1.0	1100	$1,800	$1.64	4d	1	1.09mi
3102 Lawrence St New Orleans, LA	2.0	1.0	950	$1,500	$1.58	23d	1	1.09mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	43d	1	1.10mi
2124 DuPont Dr Terrytown, LA	3.0	1.0	1127	$1,800	$1.60	14d	1	1.11mi
1421 23 Numa St New Orleans, LA	3.0	2.0	861	$1,400	$1.63	14d	1	1.14mi
1421 23 Numa St New Orleans, LA	3.0	2.0	861	$1,400	$1.63	1d	1	1.14mi
1421 Numa St Unit 1421 New Orleans, LA	3.0	2.0	861	$1,400	$1.63	23d	1	1.17mi
1510 Sumner St New Orleans, LA	2.0	1.0	950	$1,474	$1.55	15d	1	1.17mi
1418 Behrman Ave New Orleans, LA	2.0	1.0	876	$1,400	$1.60	15d	1	1.19mi
1665 Alexander Ct Gretna, LA	2.0	1.5	1350	$1,295	$0.96	43d	1	1.21mi
1661 Alexander Ct Gretna, LA	2.0	1.5	1350	$1,295	$0.96	43d	1	1.22mi
23 New England Ct Gretna, LA	3.0	1.5	1200	$1,600	$1.33	23d	1	1.22mi
1906 Cooper Rd Gretna, LA	3.0	2.0	1200	$1,600	$1.33	4d	1	1.24mi
1320 Monroe St Gretna, LA	2.0	2.0	1030	$2,000	$1.94	23d	1	1.25mi
1318 Monroe St Gretna, LA	2.0	1.0	1200	$1,595	$1.33	2d	1	1.25mi

Listing history 29 events

1. 2026-06-18
   days on market $111,000 Active 63 DOM
2. 2026-06-17
   days on market $111,000 Active 62 DOM
3. 2026-06-16
   days on market $111,000 Active 61 DOM
4. 2026-06-16
   days on marketlisting id $111,000 Active 60 DOM
5. 2026-06-15
   days on market $111,000 Active 62 DOM
6. 2026-06-13
   listing id $111,000 Active 60 DOM
7. 2026-05-31
   days on market $111,000 Active 60 DOM
8. 2026-04-01
   listed $111,000 Active 885-char remark

   Show marketing remark (885 chars)

   Located in the heart of Algiers on the Westbank. Well-maintained 2-bedroom, 1-bath home with a spacious floor plan, great for a starter home or those looking to downsize in comfort. This home features a spacious living area, a newly installed dishwasher, updated window units, and a large primary bedroom with a custom spacious closet and private access to the full bath. The roomy bathroom offers both style and functionality, and the laundry area with washer and dryer hookups. The roof is only 6 years old. Rare bonus: the property sits on two lots and includes a detached 2-bedroom, 1-bath 530 Sqft dwelling in the backyard complete with its own water heater and shower. Whether used as a guesthouse, private office, or potential rental, the possibilities are endless. Spacious yard, long driveway, and a porch seating area. Quick access to shops, dining, and downtown New Orleans.

9. 2026-04-01
   listed $111,000 Active 885-char remark

   Show marketing remark (885 chars)

   Located in the heart of Algiers on the Westbank. Well-maintained 2-bedroom, 1-bath home with a spacious floor plan, great for a starter home or those looking to downsize in comfort. This home features a spacious living area, a newly installed dishwasher, updated window units, and a large primary bedroom with a custom spacious closet and private access to the full bath. The roomy bathroom offers both style and functionality, and the laundry area with washer and dryer hookups. The roof is only 6 years old. Rare bonus: the property sits on two lots and includes a detached 2-bedroom, 1-bath 530 Sqft dwelling in the backyard complete with its own water heater and shower. Whether used as a guesthouse, private office, or potential rental, the possibilities are endless. Spacious yard, long driveway, and a porch seating area. Quick access to shops, dining, and downtown New Orleans.

10. 2026-02-27
    price $116,000
11. 2026-02-27
    price $116,000
12. 2025-10-15
    listed $121,000 Active
13. 2023-03-31
    soldstatus $110,000 Closed
14. 2023-03-31
    soldstatus $110,000
15. 2023-03-13
    status Pending
16. 2023-01-07
    listed $119,000 Active
17. 2023-01-07
    listed $119,000
18. 2022-11-27
    listed $119,000
19. 2022-01-22
    price $130,000
20. 2021-10-28
    listed $130,000
21. 2017-02-24
    historical
22. 2016-08-23
    listed $79,900 Active
23. 2016-08-23
    listed $79,900
24. 2010-01-29
    soldstatus $42,900
25. 2009-09-28
    listed $44,900
26. 2009-09-28
    listed $44,900
27. 2006-03-03
    soldstatus $81,500
28. 2005-09-29
    listed $82,500
29. 2005-09-29
    listed $82,500

ⓘ 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: $444 · $37/mo
• Projected year-2 tax: $610 · $51/mo
• Expected delta: +$166/yr (+$14/mo · 37.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,834
• − Mortgage interest: −$6,218
• − Property taxes: −$444
• − Insurance: −$5,674
• − Repairs & maintenance: −$1,587
• − Management: −$1,587
• − Depreciation: −$3,229
• Taxable income: $1,096
• Est. tax owed @ 24.0%: −$263
• After-tax cash flow: $2,303/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): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

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: Predominantly Black (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

+34.5% since first listed

22 events — show timeline

• 2026-04-01 Listed $111,000 AcadianaMLS
• 2026-04-01 Listed $111,000 GSREIN
• 2026-02-27 Price Changed $116,000 AcadianaMLS
• 2026-02-27 Price Changed $116,000 GSREIN
• 2025-10-15 Listed $121,000 AcadianaMLS
• 2023-03-31 Sold (Public Records) $110,000 Public Records
• 2023-03-31 Sold (MLS) $110,000 GSREIN
• 2023-03-13 Pending — GSREIN
• 2023-01-07 Listed $119,000 AcadianaMLS
• 2023-01-07 Listed $119,000 GSREIN
• 2022-11-27 Listed $119,000 AcadianaMLS
• 2022-01-22 Price Changed $130,000 GSREIN
• 2021-10-28 Listed $130,000 AcadianaMLS
• 2017-02-24 Listing Removed — GSREIN
• 2016-08-23 Listed $79,900 GSREIN
• 2016-08-23 Listed $79,900 AcadianaMLS
• 2010-01-29 Sold (MLS) $42,900 GSREIN
• 2009-09-28 Listed $44,900 AcadianaMLS
• 2009-09-28 Listed $44,900 GSREIN
• 2006-03-03 Sold (MLS) $81,500 GSREIN
• 2005-09-29 Listed $82,500 GSREIN
• 2005-09-29 Listed $82,500 AcadianaMLS

Property tax history

-8.2%/yr

Latest (2026): $444 · +0.0% YoY. Source: county tax records.