2109-11 Mandeville St · New Orleans, LA 70117

$195,000

9 bd · 3.9 ba · 1,638 sqft · SingleFamily · 256 Days on market

Fair condition 3,484 sqft lot $119/sqft · at area comps Est $199k · at est.

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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 +22.7/30.0
• ARV discount +8.3/15.0
• DSCR +7.3/10.0
• 1% rule +5.9/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the authentic charm of New Orleans living in this classic shotgun double located at 2109-2111 Mandeville St. This income-producing property (or ideal owner-occupant unit with rental income) features two 2-bed, 1-bath units on each side, each boasting that unmistakable New Orleans character. The traditional, flowing shotgun layout is complemented by high ceilings and an abundance of natural light. Each kitchen provides plenty of cabinet space for all your cooking needs. A major highlight is the expansive backyard, a rare and coveted feature in the city, great for gardening, entertaining, or simply enjoying the beautiful New Orleans weather. Whether you're looking for a solid investment or a place to call home with a built-in mortgage helper, this historic double is brimming with potential. Don't miss this opportunity to own a piece of The Big Easy's architectural heritage!

Key facts

• Expansive backyard
• High ceilings
• 3,484 sq ft lot

Tags

• EXPANSIVE BACKYARD
• TRADITIONAL SHOTGUN LAYOUT
• HIGH CEILINGS
• ABUNDANCE OF NATURAL LIGHT
• PLENTY OF CABINET SPACE

What this means for you Summary

Snapshot

• This is a 9-bed/3.9-bath single-family listed at $195k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 rising (+2.5%/yr); 581 active listings in the ZIP; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,129/mo this rent would consume 56% of the median local household income ($46k/yr) (locally 1988% 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 $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 256 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $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 $171,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 256 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.09% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

• ARV (median comp): $198,659
• List price: $195,000
• Delta: -1.84%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.72×
• Total profit: $-15,547
• Equity at exit: $29,075

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $4,317
• Equity at exit: $16,860

Cash invested: $54,600 (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: 581
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,129 medium
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $268

Break-even live

Break-even rent $1,790

Max offer price $195,000

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $195,000 Active 256 DOM
2. 2026-06-17
   days on market $195,000 Active 255 DOM
3. 2026-06-16
   days on market $195,000 Active 254 DOM
4. 2026-06-15
   days on market $195,000 Active 253 DOM
5. 2026-06-13
   days on market $195,000 Active 251 DOM
6. 2026-06-10
   days on market $195,000 Active 248 DOM
7. 2026-06-09
   days on market $195,000 Active 247 DOM
8. 2026-06-08
   days on market $195,000 Active 246 DOM
9. 2026-06-07
   days on market $195,000 Active 245 DOM
10. 2026-06-05
    days on market $195,000 Active 242 DOM
11. 2026-06-03
    days on market $195,000 Active 241 DOM
12. 2026-06-02
    days on market $195,000 Active 240 DOM
13. 2026-06-01
    days on market $195,000 Active 239 DOM
14. 2026-05-31
    days on market $195,000 Active 238 DOM
15. 2025-10-05
    listed $195,000 Active 893-char remark

    Show marketing remark (893 chars)

    Discover the authentic charm of New Orleans living in this classic shotgun double located at 2109-2111 Mandeville St. This income-producing property (or ideal owner-occupant unit with rental income) features two 2-bed, 1-bath units on each side, each boasting that unmistakable New Orleans character. The traditional, flowing shotgun layout is complemented by high ceilings and an abundance of natural light. Each kitchen provides plenty of cabinet space for all your cooking needs. A major highlight is the expansive backyard, a rare and coveted feature in the city, great for gardening, entertaining, or simply enjoying the beautiful New Orleans weather. Whether you're looking for a solid investment or a place to call home with a built-in mortgage helper, this historic double is brimming with potential. Don't miss this opportunity to own a piece of The Big Easy's architectural heritage!

16. 2024-09-22
    historical $950
17. 2024-09-08
    listed $950

ⓘ 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 (shaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,549
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$1,772
• − Repairs & maintenance: −$2,044
• − Management: −$2,044
• − Depreciation: −$5,673
• Taxable income: $168
• Est. tax owed @ 24.0%: −$40
• After-tax cash flow: $3,175/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.

Condition & rehab AI · 10 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations to improve its curb appeal and increase its value. The siding and landscaping need to be replaced, and the shower curtain and sink should be updated to make the bathrooms more appealing to renters.

Repairs flagged

• Major Siding — The siding is peeling and needs to be replaced.
• Major Landscaping — The landscaping is overgrown and needs to be trimmed and cleaned up.
• Minor Shower Curtain — The shower curtain is old and stained, but can be replaced.
• Minor Sink — The sink appears to be in need of replacement, but can be done as part of a larger renovation.

Value-add opportunities

• Both Replace the siding and landscaping — These updates will improve the curb appeal and increase both resale and rental value.
• Rental Replace the shower curtain and sink — These updates will improve the bathroom and make it more appealing to renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Siding · The siding is peeling and needs to be replaced.	Major	$15,000–50,000
Landscaping · The landscaping is overgrown and needs to be trimmed and cleaned up.	Major	$15,000–50,000
Shower Curtain · The shower curtain is old and stained, but can be replaced.	Minor	$500–3,000
Sink · The sink appears to be in need of replacement, but can be done as part of a larger renovation.	Minor	$500–3,000
Total estimated repair cost · 4 items		$31,000–106,000

Value-add ROI direction

• Both Replace the siding and landscaping — These updates will improve the curb appeal and increase both resale and rental value. ↑
• Rental Replace the shower curtain and sink — These updates will improve the bathroom and make it more appealing to renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

3 events — show timeline

• 2025-10-05 Listed $195,000 AcadianaMLS
• 2024-09-22 Rental Removed $950 TURBOTENANT
• 2024-09-08 Listed for Rent $950 TURBOTENANT