5111 Piety Dr · New Orleans, LA 70126

$149,900

3 bd · 2.0 ba · 1,424 sqft · SingleFamily public records · 1 Days on market

Built 1951 6,255 sqft lot $105/sqft · 51% below area Est $288k · 48% 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 +28.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.8/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready and full of charm! This beautifully updated 3 bedroom home sits on a quiet street in one of the area's most desirable neighborhoods. Enjoy fresh paint, brand new appliances, a covered carport, and an oversized backyard perfect for entertaining, gardening, or relaxing. With great neighbors and a prime location, this home offers the perfect blend of comfort, space, and value. Don't miss your chance to make it yours!

Key facts

• Covered carport
• Oversized backyard
• Prime location

Tags

• COVERED CARPORT
• OVERSIZED BACKYARD
• PRIME LOCATION

Property features AI

Exterior

• Parking: Carport; Off-street parking; Three or more parking spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-story home; Shingle roof; Hardboard exterior; Slab foundation
• Construction: Built with hardboard siding; Shingle roof; Slab foundation
• Exterior features: Concrete covered patio/porch; Shed(s); City lot with rectangular shape

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator; Icemaker
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Total of 8 rooms; Excellent condition; Smoke detectors installed
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 10.2% 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 (-0.2%/yr); 224 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 $1,772/mo this rent would consume 51% of the median local household income ($42k/yr) (locally 1767% 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 $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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 27y 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 $105k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1951 — 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 $149,900

Questions for the listing agent

1. Built in 1951 — 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: 1.18% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.94%
• DSCR: 1.62
• GRM: 7.0

CMA / ARV

• ARV (median comp): $288,478
• List price: $149,900
• Delta: -46.27%
• 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
4978 Kendall Dr	0.26mi	3/2.0	1,450 (+2%)	1mo	$205,000	$141	84
5061 Stephen Girard Ave	0.41mi	3/2.0	1,390 (-2%)	5mo	$87,500	$63	73
4318 Mendez St	0.33mi	3/2.0	1,508 (+6%)	3mo	$60,000	$40	73
4309 Dreux Ave	0.29mi	3/2.0	1,348 (-5%)	7mo	$207,000	$154	71
4571 Feliciana Dr	0.45mi	3/2.0	1,571 (+10%)	1mo	$195,000	$124	61
5163 Lafaye St	0.75mi	3/2.0	1,396 (-2%)	6mo	$130,000	$93	57
5917 Campus . Blvd	0.67mi	3/2.0	1,518 (+7%)	1mo	$170,000	$112	57
5110 Press Dr	0.39mi	4/2.0 (+1)	1,553 (+9%)	6mo	$155,000	$100	57
5439 Seminary Pl	0.49mi	3/1.5	1,584 (+11%)	8mo	$52,000	$33	50
4008 Prentiss Ave	0.55mi	3/1.0	1,225 (-14%)	4mo	$114,000	$93	43
5817 Providence Pl	0.67mi	3/2.0	1,225 (-14%)	6mo	$235,900	$193	41
5145 Lafaye St	0.75mi	4/3.0 (+1)	1,616 (+14%)	2mo	$321,000	$199	32

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: -1.7%
• Equity multiple: 0.94×
• Total profit: $-2,669
• Equity at exit: $22,351

10-year hold

• IRR: 4.5%
• Equity multiple: 1.29×
• Total profit: $12,108
• Equity at exit: $12,961

Cash invested: $41,972 (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 70126

• Home prices YoY: -17.0%
• Rents YoY: -0.2%
• Active inventory: 224
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,772 high
• Mortgage (P&I): −$786
• Tax from tax record: −$64 /mo · $768/yr
• Insurance: −$62
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $421

Break-even live

Break-even rent $1,239

Max offer price $149,900

Occupancy floor 71%

Sensitivity live

Price	-10% $506	-5% $464	+0% $421	+5% $379	+10% $336
Rent	-10% $281	-5% $351	+0% $421	+5% $491	+10% $561
Rate	-1.0pp $497	-0.5pp $459	base $421	+0.5pp $382	+1.0pp $343

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4722 Mithra St New Orleans, LA	3.0	1.5	1295	$1,600	$1.24	24d	1	0.12mi
5550 Press Dr New Orleans, LA	3.0	2.0	1640	$2,000	$1.22	17d	1	0.45mi
5747 Pauline Dr New Orleans, LA	3.0	1.0	1300	$1,400	$1.08	12d	1	0.48mi
5925 Pauline Dr New Orleans, LA	3.0	2.0	1566	$2,325	$1.48	17d	1	0.58mi
4936 Baccich St New Orleans, LA	3.0	1.0	1053	$1,700	$1.61	24d	1	0.79mi
4681 Eastern St New Orleans, LA	2.0	1.0	1100	$1,400	$1.27	17d	1	0.79mi
4767 Lafaye St New Orleans, LA	3.0	2.0	1469	$2,000	$1.36	24d	1	0.84mi
5905 Lafaye St New Orleans, LA	3.0	1.0	911	$1,700	$1.87	24d	1	0.88mi
4211 Downman Rd New Orleans, LA	2.0	1.0	900	$1,250	$1.39	24d	1	0.90mi
5920 Boeing St New Orleans, LA	3.0	1.5	1340	$1,400	$1.04	24d	1	0.95mi
5172 Venus St Unit 5172 New Orleans, LA	3.0	2.5	1864	$2,450	$1.31	24d	1	0.98mi
4441 Cessna Ct New Orleans, LA	3.0	1.5	1400	$1,600	$1.14	24d	1	1.00mi
4409 Skyview Dr New Orleans, LA	4.0	2.5	1560	$1,700	$1.09	17d	1	1.04mi
2844 Hiawatha St New Orleans, LA	2.0	1.0	975	$1,475	$1.51	24d	1	1.05mi
6226 Lafaye St New Orleans, LA	2.0	2.0	1137	$2,600	$2.29	44d	1	1.06mi
6226 Lafaye St New Orleans, LA	2.0	2.0	1137	$2,600	$2.29	12d	1	1.06mi
7404 Sussex Pl New Orleans, LA	2.0	1.5	1400	$1,450	$1.04	3d	1	1.08mi
6036 Franklin Ave New Orleans, LA	2.0	1.0	898	$1,200	$1.34	18d	1	1.09mi
4522 Shalimar Dr New Orleans, LA	3.0	2.0	1350	$1,850	$1.37	24d	1	1.10mi
2754 Jasmine St New Orleans, LA	3.0	1.0	1020	$1,750	$1.72	24d	1	1.10mi
4722 Shalimar Dr New Orleans, LA	3.0	2.0	1157	$1,400	$1.21	24d	1	1.10mi
4527 Shalimar Dr New Orleans, LA	3.0	1.5	1174	$1,550	$1.32	24d	1	1.12mi
2458 Athis St New Orleans, LA	4.0	2.0	1530	$2,200	$1.44	24d	1	1.13mi
6530 Peoples Ave New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	24d	1	1.13mi
5704 Count Ln New Orleans, LA	3.0	1.5	1572	$1,700	$1.08	24d	1	1.17mi
7702 Belcrest Pl New Orleans, LA	3.0	1.5	1150	$1,650	$1.43	24d	1	1.20mi
7611 Mayfair Pl New Orleans, LA	2.0	1.5	1440	$1,450	$1.01	4d	1	1.20mi
2512 Mexico St New Orleans, LA	3.0	2.0	975	$1,550	$1.59	24d	1	1.25mi
5925 Saint Roch Ave New Orleans, LA	2.0	1.0	1000	$1,550	$1.55	18d	1	1.25mi
7621 Alabama St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	24d	1	1.26mi
6222 Arts St Unit 6226 New Orleans, LA	2.0	1.5	1120	$1,250	$1.12	24d	1	1.27mi
2650 Gladiolus St New Orleans, LA	2.0	1.0	900	$1,600	$1.78	24d	1	1.27mi
4023 Franklin Ave New Orleans, LA	3.0	2.0	1000	$1,700	$1.70	3d	1	1.27mi
5519 Mandeville St New Orleans, LA	3.0	1.0	1125	$1,650	$1.47	4d	1	1.31mi
4745 Francis Dr New Orleans, LA	3.0	2.0	1311	$1,550	$1.18	17d	1	1.34mi
4819 21 Francis Dr New Orleans, LA	3.0	1.0	1272	$1,880	$1.48	4d	1	1.35mi
2701 03 Frankfort St New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	24d	1	1.36mi
2702 Clover St New Orleans, LA	2.0	2.0	880	$1,300	$1.48	24d	1	1.37mi
7918 W Laverne St New Orleans, LA	3.0	2.0	1166	$1,750	$1.50	24d	1	1.41mi
2312 Madrid St New Orleans, LA	2.0	1.0	1100	$1,475	$1.34	24d	1	1.41mi

Listing history 42 events

1. 2026-06-17
   pricedays on marketlisting id $149,900 Active 1 DOM
2. 2026-06-16
   days on market $155,000 Active 333 DOM

   Show marketing remark (431 chars)

   Move in ready and full of charm! This beautifully updated 3 bedroom home sits on a quiet street in one of the area's most desirable neighborhoods. Enjoy fresh paint, brand new appliances, a covered carport, and an oversized backyard perfect for entertaining, gardening, or relaxing. With great neighbors and a prime location, this home offers the perfect blend of comfort, space, and value. Don't miss your chance to make it yours!

3. 2026-06-15
   days on market $155,000 Active 332 DOM
4. 2026-06-13
   days on market $155,000 Active 330 DOM
5. 2026-06-10
   days on market $155,000 Active 327 DOM
6. 2026-06-09
   days on market $155,000 Active 326 DOM
7. 2026-06-08
   days on market $155,000 Active 325 DOM
8. 2026-06-07
   days on market $155,000 Active 324 DOM
9. 2026-06-05
   days on market $155,000 Active 321 DOM
10. 2026-06-03
    days on market $155,000 Active 320 DOM
11. 2026-06-02
    days on market $155,000 Active 319 DOM
12. 2026-06-01
    days on market $155,000 Active 318 DOM
13. 2026-05-31
    days on market $155,000 Active 317 DOM
14. 2026-05-05
    price $155,000 609-char remark
15. 2026-05-05
    price $155,000 632-char remark
16. 2026-01-24
    historical $1,695
17. 2025-12-13
    price $169,900 609-char remark
18. 2025-12-13
    price $169,900 632-char remark
19. 2025-12-08
    listed $1,695
20. 2025-12-03
    price $172,900 609-char remark
21. 2025-12-03
    price $172,900 632-char remark
22. 2025-11-29
    price $179,990 609-char remark
23. 2025-11-10
    price $179,990 632-char remark
24. 2025-09-22
    price $184,990 609-char remark
25. 2025-09-22
    price $184,990 632-char remark
26. 2025-09-04
    price $189,990 609-char remark
27. 2025-09-04
    price $189,990 632-char remark
28. 2025-08-20
    price $192,990 609-char remark
29. 2025-08-20
    price $192,990 632-char remark
30. 2025-08-04
    price $194,990 609-char remark
31. 2025-08-04
    price $194,990 632-char remark
32. 2025-07-18
    listed $199,990 Active 609-char remark
33. 2025-07-18
    listed $199,990 Active 632-char remark
34. 2025-07-18
    listed $184,990 Active
35. 2012-05-29
    soldstatus $105,000
36. 2008-05-22
    soldstatus $26,000
37. 2008-01-07
    listed $45,000
38. 2008-01-07
    listed $45,000
39. 1999-03-05
    soldstatus $55,000
40. 1999-03-05
    soldstatus $55,000
41. 1999-01-12
    listed $58,500
42. 1999-01-12
    listed $58,500

ⓘ 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: $768 · $64/mo
• Projected year-2 tax: $824 · $69/mo
• Expected delta: +$56/yr (+$5/mo · 7.3%)

ⓘ 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 (shaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,269
• − Mortgage interest: −$8,397
• − Property taxes: −$768
• − Insurance: −$1,547
• − Repairs & maintenance: −$1,702
• − Management: −$1,702
• − Depreciation: −$4,361
• Taxable income: $2,793
• Est. tax owed @ 24.0%: −$670
• After-tax cash flow: $4,384/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): 27,047
• Household income: $41,709
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 1767.0

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 (85%)
• Race & ethnicity: Black 85% Hispanic / Latino 6% Two or more races 5% White 5%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 5% 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: ▼ -36.35%
• Current HPI: 177.355
• Rent YoY: ▼ -0.24%
• 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

+156.2% since first listed

29 events — show timeline

• 2026-06-16 Listed $149,900 GSREIN
• 2026-06-16 Listed $149,900 AcadianaMLS
• 2026-05-05 Price Changed $155,000 AcadianaMLS
• 2026-05-05 Price Changed $155,000 GSREIN
• 2026-01-24 Rental Removed $1,695 GSREIN
• 2025-12-13 Price Changed $169,900 AcadianaMLS
• 2025-12-13 Price Changed $169,900 GSREIN
• 2025-12-08 Listed for Rent $1,695 GSREIN
• 2025-12-03 Price Changed $172,900 AcadianaMLS
• 2025-12-03 Price Changed $172,900 GSREIN
• 2025-11-29 Price Changed $179,990 AcadianaMLS
• 2025-11-10 Price Changed $179,990 GSREIN
• 2025-09-22 Price Changed $184,990 AcadianaMLS
• 2025-09-22 Price Changed $184,990 GSREIN
• 2025-09-04 Price Changed $189,990 AcadianaMLS
• 2025-09-04 Price Changed $189,990 GSREIN
• 2025-08-20 Price Changed $192,990 AcadianaMLS
• 2025-08-20 Price Changed $192,990 GSREIN
• 2025-08-04 Price Changed $194,990 AcadianaMLS
• 2025-08-04 Price Changed $194,990 GSREIN
• 2025-07-18 Listed $199,990 AcadianaMLS
• 2012-05-29 Sold (Public Records) $105,000 Public Records
• 2008-05-22 Sold (Public Records) $26,000 Public Records
• 2008-01-07 Listed $45,000 GSREIN
• 2008-01-07 Listed $45,000 AcadianaMLS
• 1999-03-05 Sold (Public Records) $55,000 Public Records
• 1999-03-05 Sold (MLS) $55,000 GSREIN
• 1999-01-12 Listed $58,500 AcadianaMLS
• 1999-01-12 Listed $58,500 GSREIN

Property tax history

+0.5%/yr

Latest (2026): $768 · -7.5% YoY. Source: county tax records.