613 Vallette St · New Orleans, LA 70114

$140,000

3 bd · 2.0 ba · 1,406 sqft · SingleFamily · 14 Days on market

Built 1960 2,784 sqft lot Est $226k · 38% 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 +29.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• 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

Nestled in Algiers Point nearby parks, eateries, schools, a gallery and yoga studio, this home awaits an investor or an owner looking to customize their dream home. Short drive to the interstate, this property is only a 15 Minute drive to Downtown New Orleans or the shops Uptown on Magazine St. The property features off street parking as well as a garage and is in need of a complete renovation. Property does have electricity. Property to be sold As IS. Buyer to confirm all measurements. Hold Harmless Agreement must be signed before entering the property. Please contact Amber Muse to view the property.

Key facts

• Off street parking
• Complete renovation
• 2,784 sq ft lot

Tags

• OFF STREET PARKING
• COMPLETE RENOVATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $508 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 10.6% 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 25d 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 $1,868/mo this rent would consume 52% 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 $968 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.33% ✓
• Cap rate: 10.65%
• Cash-on-cash: 15.55%
• DSCR: 1.69
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $226,366
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
926 Verret St	0.24mi	3/2.0	1,431 (+2%)	6mo	$230,000	$161	80
717 Nunez St	0.15mi	2/2.0 (-1)	1,453 (+3%)	6mo	$350,000	$241	77
431 Red Allen Way	0.19mi	3/2.0	1,466 (+4%)	9mo	$349,900	$239	76
532 Elmira Ave	0.16mi	2/2.0 (-1)	1,300 (-8%)	1mo	$350,000	$269	74
143 Pelican Ave	0.33mi	2/2.0 (-1)	1,352 (-4%)	7mo	$250,000	$185	67
320 De Armas St	0.45mi	3/2.0	1,508 (+7%)	3mo	$138,689	$92	64
613 Pacific Ave	0.18mi	2/1.0 (-1)	1,246 (-11%)	2mo	$215,000	$173	62
1321 Pacific Ave	0.55mi	3/1.5	1,520 (+8%)	8mo	$60,000	$39	53
424 Park Blvd	0.66mi	3/1.5	1,259 (-10%)	2mo	$175,000	$139	48
1210 Belleville St	0.45mi	3/2.0	1,600 (+14%)	10mo	$55,000	$34	48
1600 Bodenger Blvd	0.70mi	3/2.5	1,558 (+11%)	1mo	$102,000	$65	46
1401 Nunez St	0.58mi	3/2.0	1,213 (-14%)	8mo	$175,000	$144	43

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: 2.9%
• Equity multiple: 1.11×
• Total profit: $4,221
• Equity at exit: $20,874

10-year hold

• IRR: 9.3%
• Equity multiple: 1.62×
• Total profit: $24,297
• Equity at exit: $12,105

Cash invested: $39,200 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,868 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $508

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 68%

Sensitivity live

Price	-10% $605	-5% $556	+0% $508	+5% $460	+10% $411
Rent	-10% $360	-5% $434	+0% $508	+5% $582	+10% $656
Rate	-1.0pp $578	-0.5pp $544	base $508	+0.5pp $472	+1.0pp $435

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
620 Opelousas Ave Unit 103 New Orleans, LA	2.0	1.5	1000	$1,650	$1.65	3d	1	0.02mi
724 Evelina St Unit B New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	17d	1	0.07mi
433 Homer St Unit 1 New Orleans, LA	4.0	2.0	1570	$1,850	$1.18	24d	1	0.23mi
543 Atlantic Ave New Orleans, LA	2.0	2.5	1430	$2,200	$1.54	24d	1	0.23mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	24d	1	0.23mi
329 Belleville St New Orleans, LA	2.0	1.0	1014	$1,500	$1.48	24d	1	0.25mi
519 Bouny St New Orleans, LA	2.0	1.0	950	$1,400	$1.47	24d	1	0.27mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	24d	1	0.27mi
521 Bouny St New Orleans, LA	2.0	1.0	950	$1,400	$1.47	24d	1	0.27mi
325 Elmira Ave Unit 325 New Orleans, LA	3.0	1.5	1050	$1,525	$1.45	24d	1	0.28mi
507 Newton St New Orleans, LA	2.0	2.0	1150	$1,400	$1.22	24d	1	0.28mi
249 Vallette St New Orleans, LA	4.0	2.0	1734	$2,500	$1.44	16d	1	0.30mi
500 Powder St Unit B New Orleans, LA	2.0	1.0	1085	$1,600	$1.47	24d	1	0.32mi
606 Drum St New Orleans, LA	3.0	2.0	1131	$2,350	$2.08	24d	1	0.35mi
311 Delaronde St New Orleans, LA	2.0	1.0	1120	$1,740	$1.55	24d	1	0.37mi
740 Thayer Unit 2A New Orleans, LA	2.0	2.0	950	$1,350	$1.42	24d	1	0.38mi
119 Vallette St New Orleans, LA	3.0	2.5	1500	$2,100	$1.40	24d	1	0.39mi
1140 Teche St Apt B New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	24d	1	0.41mi
1136 Brooklyn Ave New Orleans, LA	3.0	1.0	913	$1,600	$1.75	24d	1	0.45mi
323 Morgan St Unit G New Orleans, LA	2.0	2.5	1700	$2,500	$1.47	44d	1	0.45mi
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	4d	1	0.50mi
335 Whitney Ave New Orleans, LA	2.0	1.0	1100	$1,575	$1.43	24d	1	0.54mi
810 Whitney Ave New Orleans, LA	2.0	1.0	900	$1,250	$1.39	12d	1	0.54mi
718 Majestic Pl New Orleans, LA	3.0	2.0	1164	$1,785	$1.53	22d	1	0.57mi
400 Park Blvd Unit A New Orleans, LA	4.0	1.5	1275	$2,200	$1.73	24d	1	0.65mi
513 Park Blvd New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	4d	1	0.66mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	4d	1	0.73mi
1108 Sumner St New Orleans, LA	3.0	1.5	1197	$1,500	$1.25	12d	1	0.78mi
2 Canal St #2008 New Orleans, LA	2.0	2.5	1533	$9,000	$5.87	3d	1	0.87mi
2 Canal St #2309 New Orleans, LA	2.0	2.0	1173	$8,000	$6.82	16d	1	0.87mi
2 Canal St #2008 New Orleans, LA	2.0	2.5	1533	$9,300	$6.07	16d	1	0.87mi
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	16d	1	0.89mi
1510 Sumner St New Orleans, LA	2.0	1.0	950	$1,474	$1.55	16d	1	0.93mi
1402 Behrman Ave New Orleans, LA	2.0	1.0	1673	$1,500	$0.90	24d	1	0.93mi
522 Montegut St New Orleans, LA	1.0–2.0	1.0–2.0	1256	$3,500	$2.79	2d	12	0.94mi
1418 Behrman Ave New Orleans, LA	2.0	1.0	876	$1,400	$1.60	16d	1	0.95mi
811 Decatur St Unit 3 New Orleans, LA	2.0	2.0	1230	$2,800	$2.28	44d	1	0.99mi
807 Decatur St #2 New Orleans, LA	2.0	1.5	1325	$3,600	$2.72	44d	1	0.99mi
625 Louisa St New Orleans, LA	2.0	1.0	1162	$2,400	$2.07	24d	1	0.99mi
915 Decatur St Unit F New Orleans, LA	2.0	2.0	1500	$2,175	$1.45	24d	1	1.00mi

Listing history 2 events

1. 2026-06-17
   remarks 608-char remark
2. 2026-06-17
   listed $140,000 Pending 14 DOM

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

Taxation est. · year 1

• Rental income: $22,412
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,793
• − Management: −$1,793
• − Depreciation: −$4,073
• Taxable income: $4,111
• Est. tax owed @ 24.0%: −$987
• After-tax cash flow: $5,109/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