2349 Easter Ln · New Orleans, LA 70131

$205,000

4 bd · 2.5 ba · 3,121 sqft · SingleFamily public records · 6 Days on market

Built 1966 $66/sqft · 47% below area Est $292k · 30% 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 +24.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Rent growth +0.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOCATION~LOCATION~LOCATION!! Exceptional opportunity to own a spacious 2 story Single Family home in the heart of desirable Old Aurora Gardens!! Conveniently situated between Holiday Drive, MacArthur Blvd., General Meyer Avenue and Kabel Drive. This well cared for residence offers easy and quick access to the Crescent City Connection/GNO Bridge and all the conveniences of both the West Bank and Downtown New Orleans.<br><br> Lovingly maintained by the same owner for 20+ years, this home features an exceptional and highly functional floorplan with generous room sizes throughout. The interior boasts a formal living room and formal dining room, a large kitchen with an adjoining breakfast area, plus a HUGE oversized den/family room designed for comfortable everyday living and entertaining alike.<br><br> There are a total of 4 oversized private bedrooms, 2 FULL Baths & 1 Half Bath. The rear yard offers a charming screened patio overlooking the privacy fenced backyard, creating the perfect setting for relaxing evenings, outdoor gatherings and year round enjoyment. Additional improvements include updated HVAC systems and a roof replaced in 2021, adding to the overall value and long term upkeep of the property.<br><br> This property is well positioned and priced to sell, presenting tremendous value for the size, location and condition offered. Conveniently located near everyday shopping and dining including Rouses Market, Target, Mosca's and Cafe 615 Home of Da Wabbitt. This is an excellent opportunity to own a large home in one of the West Bank's most established and convenient neighborhoods!<br><br>BONUS: Located in a coveted X Flood Zone and the property has NEVER flooded

Key facts

• Garage
• Built 1966
• Listed 6 days

Property features AI

Exterior

• Parking: Garage with door opener; One garage space; Driveway
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: 2 stories; Very good condition; Resale
• Construction: Brick and vinyl siding construction; Shingle roof; Slab foundation; Built as existing (resale)
• Exterior features: Enclosed porch; Screened porch; Concrete patio/porch; Fence; Permeable paving

Interior

• Kitchen: Cooktop; Oven; Range; Dishwasher; Refrigerator
• Bedrooms: Total rooms: 8
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Carbon monoxide detector; Cable TV
• Laundry & utility: Washer hookup; Dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $205k).
• Cap rate 8.7% 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 falling (-9.2%/yr); 274 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 43% of the median local income ($62k/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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 32y 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 $92k; list at $205k implies a 123% 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 $205,000

Questions for the listing agent

1. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.58%
• DSCR: 1.38
• GRM: 7.7

CMA / ARV

• ARV (median comp): $292,249
• List price: $205,000
• Delta: -29.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2341 Easter Ln	0.01mi	4/2.5	2,857 (-8%)	2mo	$334,500	$117	84
2060 Halsey Ave	0.29mi	4/2.5	2,760 (-12%)	18mo	$276,000	$100	52
5 Five Oaks Dr	0.67mi	5/3.5 (+1)	3,385 (+8%)	10mo	$416,817	$123	37
3 Five Oaks Dr	0.71mi	4/2.5	3,350 (+7%)	23mo	$467,000	$139	35
1424 De Battista Pl	0.66mi	4/2.5	2,662 (-15%)	23mo	$355,000	$133	26

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: -8.7%
• Equity multiple: 0.69×
• Total profit: $-17,756
• Equity at exit: $30,566

10-year hold

• IRR: -3.7%
• Equity multiple: 0.79×
• Total profit: $-12,177
• Equity at exit: $17,725

Cash invested: $57,400 (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 70131

• Home prices YoY: -12.0%
• Rents YoY: -9.2%
• Active inventory: 274
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,210 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$175 /mo · $2,102/yr
• Insurance: −$85
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $344

Break-even live

Break-even rent $1,775

Max offer price $205,000

Occupancy floor 79%

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2001 Saint Nick Dr New Orleans, LA	4.0	2.5	2400	$2,300	$0.96	23d	1	0.32mi
1410 Kabel Dr New Orleans, LA	3.0	2.0	2200	$2,200	$1.00	23d	1	0.35mi
1825 Murl St New Orleans, LA	3.0	2.0	2484	$1,750	$0.70	23d	1	0.81mi
2741 Chelsea Dr New Orleans, LA	4.0	2.5	2382	$2,500	$1.05	15d	1	1.01mi
5801 Albany Ct New Orleans, LA	4.0	2.5	2160	$2,000	$0.93	23d	1	1.13mi
3738 Somerset Dr New Orleans, LA	4.0	2.0	2247	$3,000	$1.34	14d	1	1.26mi

Listing history 9 events

1. 2026-05-18
   status Pending 1279-char remark

   Show marketing remark (1698 chars)

   LOCATION~LOCATION~LOCATION!! Exceptional opportunity to own a spacious 2 story Single Family home in the heart of desirable Old Aurora Gardens!! Conveniently situated between Holiday Drive, MacArthur Blvd., General Meyer Avenue and Kabel Drive. This well cared for residence offers easy and quick access to the Crescent City Connection/GNO Bridge and all the conveniences of both the West Bank and Downtown New Orleans.<br><br> Lovingly maintained by the same owner for 20+ years, this home features an exceptional and highly functional floorplan with generous room sizes throughout. The interior boasts a formal living room and formal dining room, a large kitchen with an adjoining breakfast area, plus a HUGE oversized den/family room designed for comfortable everyday living and entertaining alike.<br><br> There are a total of 4 oversized private bedrooms, 2 FULL Baths &amp; 1 Half Bath. The rear yard offers a charming screened patio overlooking the privacy fenced backyard, creating the perfect setting for relaxing evenings, outdoor gatherings and year round enjoyment. Additional improvements include updated HVAC systems and a roof replaced in 2021, adding to the overall value and long term upkeep of the property.<br><br> This property is well positioned and priced to sell, presenting tremendous value for the size, location and condition offered. Conveniently located near everyday shopping and dining including Rouses Market, Target, Mosca's and Cafe 615 Home of Da Wabbitt. This is an excellent opportunity to own a large home in one of the West Bank's most established and convenient neighborhoods!<br><br>BONUS: Located in a coveted X Flood Zone and the property has NEVER flooded

2. 2026-05-18
   status Pending 1678-char remark

   Show marketing remark (1698 chars)

   LOCATION~LOCATION~LOCATION!! Exceptional opportunity to own a spacious 2 story Single Family home in the heart of desirable Old Aurora Gardens!! Conveniently situated between Holiday Drive, MacArthur Blvd., General Meyer Avenue and Kabel Drive. This well cared for residence offers easy and quick access to the Crescent City Connection/GNO Bridge and all the conveniences of both the West Bank and Downtown New Orleans.<br><br> Lovingly maintained by the same owner for 20+ years, this home features an exceptional and highly functional floorplan with generous room sizes throughout. The interior boasts a formal living room and formal dining room, a large kitchen with an adjoining breakfast area, plus a HUGE oversized den/family room designed for comfortable everyday living and entertaining alike.<br><br> There are a total of 4 oversized private bedrooms, 2 FULL Baths &amp; 1 Half Bath. The rear yard offers a charming screened patio overlooking the privacy fenced backyard, creating the perfect setting for relaxing evenings, outdoor gatherings and year round enjoyment. Additional improvements include updated HVAC systems and a roof replaced in 2021, adding to the overall value and long term upkeep of the property.<br><br> This property is well positioned and priced to sell, presenting tremendous value for the size, location and condition offered. Conveniently located near everyday shopping and dining including Rouses Market, Target, Mosca's and Cafe 615 Home of Da Wabbitt. This is an excellent opportunity to own a large home in one of the West Bank's most established and convenient neighborhoods!<br><br>BONUS: Located in a coveted X Flood Zone and the property has NEVER flooded

3. 2026-05-12
   listed $205,000 Active 1279-char remark

   Show marketing remark (1698 chars)

   LOCATION~LOCATION~LOCATION!! Exceptional opportunity to own a spacious 2 story Single Family home in the heart of desirable Old Aurora Gardens!! Conveniently situated between Holiday Drive, MacArthur Blvd., General Meyer Avenue and Kabel Drive. This well cared for residence offers easy and quick access to the Crescent City Connection/GNO Bridge and all the conveniences of both the West Bank and Downtown New Orleans.<br><br> Lovingly maintained by the same owner for 20+ years, this home features an exceptional and highly functional floorplan with generous room sizes throughout. The interior boasts a formal living room and formal dining room, a large kitchen with an adjoining breakfast area, plus a HUGE oversized den/family room designed for comfortable everyday living and entertaining alike.<br><br> There are a total of 4 oversized private bedrooms, 2 FULL Baths &amp; 1 Half Bath. The rear yard offers a charming screened patio overlooking the privacy fenced backyard, creating the perfect setting for relaxing evenings, outdoor gatherings and year round enjoyment. Additional improvements include updated HVAC systems and a roof replaced in 2021, adding to the overall value and long term upkeep of the property.<br><br> This property is well positioned and priced to sell, presenting tremendous value for the size, location and condition offered. Conveniently located near everyday shopping and dining including Rouses Market, Target, Mosca's and Cafe 615 Home of Da Wabbitt. This is an excellent opportunity to own a large home in one of the West Bank's most established and convenient neighborhoods!<br><br>BONUS: Located in a coveted X Flood Zone and the property has NEVER flooded

4. 2026-05-12
   listed $205,000 Active 1678-char remark

   Show marketing remark (1698 chars)

   LOCATION~LOCATION~LOCATION!! Exceptional opportunity to own a spacious 2 story Single Family home in the heart of desirable Old Aurora Gardens!! Conveniently situated between Holiday Drive, MacArthur Blvd., General Meyer Avenue and Kabel Drive. This well cared for residence offers easy and quick access to the Crescent City Connection/GNO Bridge and all the conveniences of both the West Bank and Downtown New Orleans.<br><br> Lovingly maintained by the same owner for 20+ years, this home features an exceptional and highly functional floorplan with generous room sizes throughout. The interior boasts a formal living room and formal dining room, a large kitchen with an adjoining breakfast area, plus a HUGE oversized den/family room designed for comfortable everyday living and entertaining alike.<br><br> There are a total of 4 oversized private bedrooms, 2 FULL Baths &amp; 1 Half Bath. The rear yard offers a charming screened patio overlooking the privacy fenced backyard, creating the perfect setting for relaxing evenings, outdoor gatherings and year round enjoyment. Additional improvements include updated HVAC systems and a roof replaced in 2021, adding to the overall value and long term upkeep of the property.<br><br> This property is well positioned and priced to sell, presenting tremendous value for the size, location and condition offered. Conveniently located near everyday shopping and dining including Rouses Market, Target, Mosca's and Cafe 615 Home of Da Wabbitt. This is an excellent opportunity to own a large home in one of the West Bank's most established and convenient neighborhoods!<br><br>BONUS: Located in a coveted X Flood Zone and the property has NEVER flooded

5. 1994-04-07
   soldstatus $92,000
6. 1994-03-31
   soldstatus $92,000
7. 1994-02-18
   listed $94,500
8. 1994-02-18
   listed $94,500
9. 1991-02-05
   soldstatus $71,897

ⓘ 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: $2,102 · $175/mo
• Projected year-2 tax: $2,102 · $175/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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,524
• − Mortgage interest: −$11,483
• − Property taxes: −$2,102
• − Insurance: −$1,822
• − Repairs & maintenance: −$2,122
• − Management: −$2,122
• − Depreciation: −$5,964
• Taxable income: $909
• Est. tax owed @ 24.0%: −$218
• After-tax cash flow: $3,911/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): 25,151
• Household income: $62,389
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 707.0

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 0.57)
• Race & ethnicity: Black 62% White 20% Hispanic / Latino 11% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Dominican 2%
• Common ancestry: Lithuanian 4% Hispanic 1%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 9% Vietnamese 2% 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: ▼ -28.08%
• Current HPI: 206.7552
• Rent YoY: ▼ -9.23%
• 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

+185.1% since first listed

9 events — show timeline

• 2026-05-18 Pending — AcadianaMLS
• 2026-05-18 Pending — GSREIN
• 2026-05-12 Listed $205,000 GSREIN
• 2026-05-12 Listed $205,000 AcadianaMLS
• 1994-04-07 Sold (Public Records) $92,000 Public Records
• 1994-03-31 Sold (MLS) $92,000 GSREIN
• 1994-02-18 Listed $94,500 AcadianaMLS
• 1994-02-18 Listed $94,500 GSREIN
• 1991-02-05 Sold (Public Records) $71,897 Public Records

Property tax history

+2.4%/yr

Latest (2026): $2,102 · +0.0% YoY. Source: county tax records.