1018 Wagner St · New Orleans, LA 70114

$135,000

2 bd · 1.0 ba · 1,300 sqft · SingleFamily public records · 223 Days on market

Built 1938 5,501 sqft lot $104/sqft · 20% below area Est $168k · 20% under ↓ 7% since listing

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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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +7.0/10.0
• 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

Excellent Opportunity in Algiers! This property offers exceptional potential for homeowners or investors alike. With a little TLC, this home can be transformed into a true gem. Ideally located just minutes from the Algiers Ferry, shopping centers, malls, and a variety of dining options. Don't miss the opportunity to make this well-situated property your next home or renovation project.

Key facts

• Ideally located
• 5,501 sq ft lot
• Built 1938

Tags

• IDEALLY LOCATED
• MINUTES FROM ALGIERS FERRY
• VARIETY OF DINING OPTIONS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 (-0.7%/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).
• This rent runs 45% of the median local income ($43k/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 $933 of loan paydown is wiped out by about $4k 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 223 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) 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 1938 — 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 $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 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 1938 — 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: 1.20% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.87%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (median comp): $168,488
• List price: $135,000
• Delta: -19.88%
• 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
1056 Farragut St	0.37mi	3/1.0 (+1)	1,279 (-2%)	1mo	$85,000	$66	74
532 Elmira Ave	0.57mi	2/2.0	1,300 (0%)	1mo	$350,000	$269	69
613 Pacific Ave	0.51mi	2/1.0	1,246 (-4%)	2mo	$215,000	$173	68
2024 Lamarque St	0.26mi	3/2.0 (+1)	1,350 (+4%)	6mo	$151,500	$112	67
1327 Shirley Dr	0.53mi	3/2.0 (+1)	1,274 (-2%)	6mo	$70,000	$55	58
1513 Shirley Dr	0.65mi	3/1.0 (+1)	1,341 (+3%)	2mo	$185,000	$138	58
1410 Hendee St	0.30mi	3/2.5 (+1)	1,150 (-12%)	0mo	$90,000	$78	56
1623 Shirley Dr	0.75mi	2/2.0	1,275 (-2%)	8mo	$70,000	$55	51
1509 Shirley Dr	0.64mi	2/1.5	1,482 (+14%)	2mo	$45,000	$30	43
250 Wagner St	0.57mi	3/2.0 (+1)	1,174 (-10%)	7mo	$212,000	$181	42
926 Verret St	0.62mi	3/2.0 (+1)	1,431 (+10%)	6mo	$230,000	$161	40
717 Nunez St	0.75mi	2/2.0	1,453 (+12%)	6mo	$350,000	$241	36

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: -6.6%
• Equity multiple: 0.76×
• Total profit: $-8,973
• Equity at exit: $20,129

10-year hold

• IRR: -1.4%
• Equity multiple: 0.92×
• Total profit: $-3,209
• Equity at exit: $11,672

Cash invested: $37,800 (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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,614 high
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $276

Break-even live

Break-even rent $1,265

Max offer price $135,000

Occupancy floor 78%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
810 Whitney Ave New Orleans, LA	2.0	1.0	900	$1,250	$1.39	11d	1	0.14mi
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	3d	1	0.15mi
1108 Sumner St New Orleans, LA	3.0	1.5	1197	$1,500	$1.25	11d	1	0.17mi
740 Thayer Unit 2A New Orleans, LA	2.0	2.0	950	$1,350	$1.42	23d	1	0.24mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	3d	1	0.28mi
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	16d	1	0.34mi
1402 Behrman Ave New Orleans, LA	2.0	1.0	1673	$1,500	$0.90	23d	1	0.36mi
1418 Behrman Ave New Orleans, LA	2.0	1.0	876	$1,400	$1.60	16d	1	0.38mi
1510 Sumner St New Orleans, LA	2.0	1.0	950	$1,474	$1.55	16d	1	0.40mi
543 Atlantic Ave New Orleans, LA	2.0	2.5	1430	$2,200	$1.54	23d	1	0.46mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	23d	1	0.48mi
540 Pacific Ave New Orleans, LA	1.0	1.0	900	$1,200	$1.33	23d	1	0.48mi
335 Whitney Ave New Orleans, LA	2.0	1.0	1100	$1,575	$1.43	23d	1	0.49mi
718 Majestic Pl New Orleans, LA	3.0	2.0	1164	$1,785	$1.53	21d	1	0.49mi
606 Drum St New Orleans, LA	3.0	2.0	1131	$2,350	$2.08	23d	1	0.58mi
724 Evelina St Unit B New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	17d	1	0.61mi
620 Opelousas Ave Unit 103 New Orleans, LA	2.0	1.5	1000	$1,650	$1.65	3d	1	0.63mi
507 Newton St New Orleans, LA	2.0	2.0	1150	$1,400	$1.22	23d	1	0.64mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	23d	1	0.65mi
1625 Lauradale Dr New Orleans, LA	3.0	2.0	1029	$1,700	$1.65	3d	1	0.65mi
325 Elmira Ave Unit 325 New Orleans, LA	3.0	1.5	1050	$1,525	$1.45	23d	1	0.68mi
435 Homer St New Orleans, LA	1.0	1.0	950	$1,100	$1.16	23d	1	0.68mi
513 Park Blvd New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	3d	1	0.70mi
329 Belleville St New Orleans, LA	2.0	1.0	1014	$1,500	$1.48	23d	1	0.71mi
1140 Teche St Apt B New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	23d	1	0.72mi
1136 Brooklyn Ave New Orleans, LA	3.0	1.0	913	$1,600	$1.75	23d	1	0.79mi
119 Vallette St New Orleans, LA	3.0	2.5	1500	$2,100	$1.40	23d	1	0.86mi
519 Bouny St New Orleans, LA	2.0	1.0	950	$1,400	$1.47	23d	1	0.87mi
521 Bouny St New Orleans, LA	2.0	1.0	950	$1,400	$1.47	23d	1	0.88mi
500 Powder St Unit B New Orleans, LA	2.0	1.0	1085	$1,600	$1.47	23d	1	0.91mi
1200 Southlawn Blvd New Orleans, LA	3.0	2.0	950	$1,725	$1.82	23d	1	0.92mi
311 Delaronde St New Orleans, LA	2.0	1.0	1120	$1,740	$1.55	23d	1	0.95mi
1719 Pace Blvd New Orleans, LA	3.0	1.0	1178	$2,000	$1.70	11d	1	0.98mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	2d	1	1.00mi
1565 Murl St Unit B New Orleans, LA	2.0	2.0	1100	$1,100	$1.00	23d	1	1.02mi
323 Morgan St Unit G New Orleans, LA	2.0	2.5	1700	$2,500	$1.47	43d	1	1.02mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	43d	1	1.06mi
3000 Americus St New Orleans, LA	3.0	2.0	1280	$1,400	$1.09	23d	1	1.09mi
3102 Lawrence St New Orleans, LA	2.0	1.0	950	$1,500	$1.58	23d	1	1.10mi
623 France St New Orleans, LA	2.0	2.0	982	$2,600	$2.65	43d	1	1.12mi

Listing history 18 events

1. 2026-06-18
   days on market $135,000 Active 223 DOM
2. 2026-06-17
   days on market $135,000 Active 222 DOM
3. 2026-06-16
   days on market $135,000 Active 221 DOM
4. 2026-06-15
   days on market $135,000 Active 220 DOM
5. 2026-06-13
   days on market $135,000 Active 218 DOM
6. 2026-06-10
   days on market $135,000 Active 215 DOM
7. 2026-06-09
   days on market $135,000 Active 214 DOM
8. 2026-06-08
   days on market $135,000 Active 213 DOM
9. 2026-06-07
   days on market $135,000 Active 212 DOM
10. 2026-06-05
    days on market $135,000 Active 209 DOM
11. 2026-06-03
    days on market $135,000 Active 208 DOM
12. 2026-06-02
    days on market $135,000 Active 207 DOM
13. 2026-06-01
    days on market $135,000 Active 206 DOM
14. 2026-05-31
    days on market $135,000 Active 205 DOM
15. 2026-03-19
    price $135,000 388-char remark

    Show marketing remark (394 chars)

    Excellent Opportunity in Algiers! This property offers exceptional potential for homeowners or investors alike. With a little TLC, this home can be transformed into a true gem. Ideally located just minutes from the Algiers Ferry, shopping centers, malls, and a variety of dining options. Don’t miss the opportunity to make this well-situated property your next home or renovation project.

16. 2026-03-19
    price $135,000 394-char remark

    Show marketing remark (394 chars)

    Excellent Opportunity in Algiers! This property offers exceptional potential for homeowners or investors alike. With a little TLC, this home can be transformed into a true gem. Ideally located just minutes from the Algiers Ferry, shopping centers, malls, and a variety of dining options. Don’t miss the opportunity to make this well-situated property your next home or renovation project.

17. 2025-11-07
    listed $145,000 Active 388-char remark

    Show marketing remark (394 chars)

    Excellent Opportunity in Algiers! This property offers exceptional potential for homeowners or investors alike. With a little TLC, this home can be transformed into a true gem. Ideally located just minutes from the Algiers Ferry, shopping centers, malls, and a variety of dining options. Don’t miss the opportunity to make this well-situated property your next home or renovation project.

18. 2025-11-07
    listed $145,000 Active 394-char remark

    Show marketing remark (394 chars)

    Excellent Opportunity in Algiers! This property offers exceptional potential for homeowners or investors alike. With a little TLC, this home can be transformed into a true gem. Ideally located just minutes from the Algiers Ferry, shopping centers, malls, and a variety of dining options. Don’t miss the opportunity to make this well-situated property your next home or renovation project.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X · 99% 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: $19,371
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$1,472
• − Repairs & maintenance: −$1,550
• − Management: −$1,550
• − Depreciation: −$3,927
• Taxable income: $1,285
• Est. tax owed @ 24.0%: −$308
• After-tax cash flow: $3,002/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

-6.9% since first listed

4 events — show timeline

• 2026-03-19 Price Changed $135,000 AcadianaMLS
• 2026-03-19 Price Changed $135,000 GSREIN
• 2025-11-07 Listed $145,000 GSREIN
• 2025-11-07 Listed $145,000 AcadianaMLS

Property tax history

-0.3%/yr

Latest (2026): $31 · -12.5% YoY. Source: county tax records.