6741 Morrison Rd · New Orleans, LA 70126

$182,000

3 bd · 2.0 ba · 2,000 sqft · SingleFamily public records · 23 Days on market

Built 1970 Est $226k · 19% 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 +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.2/10.0
• 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

Great potential just waiting for you to add your ideas! New plumbing and electrical, roof, doors, and windows. Freshly painted, security system in place, covered patio area, and extra-large yard. Many supplies will be left to help with completion.

Key facts

• Extra-large yard
• New plumbing
• New electrical

Tags

• NEW PLUMBING
• NEW ELECTRICAL
• COVERED PATIO AREA
• EXTRA-LARGE YARD

Property features AI

Exterior

• Home design: Single-family property
• Construction: Built in 1970
• Exterior features: Property built in 1970; Living area of 2,000

Interior

• Interior features: Located in the New Orleans East area

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $182k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $182k).
• Recommended offer: $179k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% 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; 14 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 $1,857/mo this rent would consume 53% 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 $5k 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 23 days — a 2% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 $179,270 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — 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: 1.02% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.60%
• DSCR: 1.29
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $226,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6701 Morrison Rd	0.06mi	3/3.0	2,000 (0%)	8mo	$255,000	$128	86
6721 Dorchester Dr	0.13mi	3/2.0	1,800 (-10%)	2mo	$209,000	$116	76
6900 Curran Blvd	0.28mi	3/2.5	1,959 (-2%)	10mo	$230,000	$117	73
7301 Crestmont Rd	0.32mi	3/2.0	2,076 (+4%)	9mo	$225,000	$108	71
7717 Doyle Ct	0.57mi	3/2.0	1,977 (-1%)	2mo	$205,900	$104	69
7540 Fieldston Rd	0.50mi	4/2.0 (+1)	2,028 (+1%)	6mo	$230,000	$113	65
7330 Eastmore Rd	0.40mi	3/2.0	1,852 (-7%)	12mo	$150,000	$81	59
7701 Wales St	0.72mi	4/2.0 (+1)	1,975 (-1%)	2mo	$176,500	$89	58
7143 Mayo Blvd	0.57mi	4/2.0 (+1)	2,216 (+11%)	5mo	$260,000	$117	47
7611 Fieldston Rd	0.53mi	4/2.5 (+1)	1,701 (-15%)	1mo	$260,000	$153	43
4901 Haydel St	0.67mi	4/2.5 (+1)	2,210 (+10%)	6mo	$199,000	$90	40
7500 Primrose Dr	0.74mi	3/2.0	1,750 (-12%)	7mo	$190,000	$109	39

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: -11.9%
• Equity multiple: 0.58×
• Total profit: $-21,302
• Equity at exit: $27,137

10-year hold

• IRR: -7.9%
• Equity multiple: 0.57×
• Total profit: $-21,960
• Equity at exit: $15,736

Cash invested: $50,960 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,857 high
• Mortgage (P&I): −$954
• Tax from tax record: −$157 /mo · $1,883/yr
• Insurance: −$76
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $214

Break-even live

Break-even rent $1,587

Max offer price $182,000

Occupancy floor 84%

Sensitivity live

Price	-10% $317	-5% $265	+0% $214	+5% $162	+10% $111
Rent	-10% $67	-5% $140	+0% $214	+5% $287	+10% $360
Rate	-1.0pp $305	-0.5pp $260	base $214	+0.5pp $166	+1.0pp $119

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: $45,500
• Closing costs: $5,460
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7530 Newcastle St New Orleans, LA	3.0	2.0	1913	$1,800	$0.94	25d	1	0.29mi
6628 Harbourview Dr New Orleans, LA	3.0	2.5	1520	$1,700	$1.12	4d	1	0.55mi
7611 Mayfair Pl New Orleans, LA	2.0	1.5	1440	$1,450	$1.01	4d	1	0.77mi
7404 Sussex Pl New Orleans, LA	2.0	1.5	1400	$1,450	$1.04	4d	1	0.80mi
5704 Count Ln New Orleans, LA	3.0	1.5	1572	$1,700	$1.08	25d	1	0.82mi
5611 Rickert Dr New Orleans, LA	3.0	2.5	2155	$2,900	$1.35	45d	1	0.96mi
7401 Scottsdale Dr New Orleans, LA	3.0	2.5	2100	$2,000	$0.95	25d	1	1.21mi
4409 Skyview Dr New Orleans, LA	4.0	2.5	1560	$1,700	$1.09	17d	1	1.22mi
4441 Cessna Ct New Orleans, LA	3.0	1.5	1400	$1,600	$1.14	25d	1	1.22mi
7608 Laine Ave New Orleans, LA	3.0	2.5	2060	$1,950	$0.95	25d	1	1.38mi
7230 Yorktown Dr New Orleans, LA	3.0	2.0	1550	$1,600	$1.03	17d	1	1.42mi
7230 Yorktown Dr New Orleans, LA	3.0	2.0	1550	$1,600	$1.03	25d	1	1.42mi
6910 Bunker Hill Rd New Orleans, LA	3.0	2.5	1785	$1,400	$0.78	21d	1	1.43mi
5925 Pauline Dr New Orleans, LA	3.0	2.0	1566	$2,325	$1.48	17d	1	1.43mi

Listing history 20 events

1. 2026-06-21
   days on market $182,000 Active 23 DOM
2. 2026-06-18
   days on market $182,000 Active 20 DOM
3. 2026-06-17
   days on market $182,000 Active 19 DOM
4. 2026-06-16
   days on market $182,000 Active 18 DOM
5. 2026-06-15
   days on market $182,000 Active 17 DOM
6. 2026-06-13
   days on market $182,000 Active 15 DOM
7. 2026-06-10
   days on market $182,000 Active 12 DOM
8. 2026-06-09
   days on market $182,000 Active 11 DOM
9. 2026-06-08
   days on market $182,000 Active 10 DOM
10. 2026-06-07
    days on market $182,000 Active 9 DOM
11. 2026-06-05
    days on market $182,000 Active 6 DOM
12. 2026-06-03
    days on market $182,000 Active 5 DOM
13. 2026-06-02
    days on market $182,000 Active 4 DOM
14. 2026-06-01
    days on market $182,000 Active 3 DOM
15. 2026-05-31
    days on market $182,000 Active 2 DOM
16. 2026-05-29
    listed $182,000 Active
17. 2023-04-14
    price $150,000
18. 2023-03-20
    listed $150,000
19. 2020-08-10
    price $150,000
20. 2020-02-04
    listed $150,000

ⓘ 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: $1,883 · $157/mo
• Projected year-2 tax: $1,883 · $157/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 (shaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 22 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: $22,288
• − Mortgage interest: −$10,195
• − Property taxes: −$1,883
• − Insurance: −$1,708
• − Repairs & maintenance: −$1,783
• − Management: −$1,783
• − Depreciation: −$5,295
• Taxable loss: −$358
• Est. tax savings @ 24.0%: +$86
• After-tax cash flow: $2,650/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

+21.3% since first listed

5 events — show timeline

• 2026-05-29 Listed $182,000 FSBO.com
• 2023-04-14 Price Changed $150,000 GSREIN
• 2023-03-20 Listed $150,000 AcadianaMLS
• 2020-08-10 Price Changed $150,000 GSREIN
• 2020-02-04 Listed $150,000 AcadianaMLS

Property tax history

+10.2%/yr

Latest (2026): $1,883 · +1.0% YoY. Source: county tax records.