507 Fats Domino Ave · New Orleans, LA 70117

$159,000

2 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 82 Days on market

Built 1960 4,721 sqft lot $155/sqft · 28% below area Est $222k · 28% 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 +18.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

507 Fats Domino Avenue | New Orleans, LA---Welcome to this 9th Ward jewel, perfectly positioned on a quiet street and full of potential! This all-brick home, off-street parking, fully fenced yard, and a large patio— The home is move-in ready, yet offers the perfect opportunity for updates to truly make it your own and elevate it to perfection. Whether you're a first-time buyer, investor, or downsizing, this property delivers both value and versatility--solid construction, outdoor living space, and quiet neighborhood setting. All of this at an incredible value of $159,000—don’t miss your chance to own a piece of New Orleans charm.

Key facts

• Large patio
• Off-street parking
• Fully fenced yard

Tags

• OFF-STREET PARKING
• FULLY FENCED YARD
• LARGE PATIO
• OUTDOOR LIVING SPACE
• QUIET NEIGHBORHOOD SETTING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $88 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (5.2% below list).
• Recommended offer: $149k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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.
• Zoned schools: Benjamin Franklin Elem. Math And Science (math 12% / reading 23%, grade F, #479 of 646 statewide, top 75%, 747 students, 98% FRL, charter) — zoned schools average 98% FRL vs 68% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.5%/yr); 587 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 40% of the median local income ($46k/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 $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 82 days — a 6% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $55k; list at $159k implies a 189% 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 $149,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.95% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.17%
• DSCR: 1.19
• GRM: 8.8

CMA / ARV

• ARV (median comp): $221,754
• List price: $159,000
• Delta: -28.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5220 Chartres St	0.28mi	3/1.0 (+1)	1,130 (+10%)	0mo	$199,000	$176	64
6039 Dauphine St	0.31mi	2/1.5	1,024 (-0%)	23mo	$177,000	$173	64
5721 Burgundy St	0.28mi	2/2.0	1,051 (+2%)	22mo	$225,000	$214	61
622 Lizardi St	0.33mi	3/1.0 (+1)	926 (-10%)	10mo	$140,000	$151	55
723 Andry St	0.23mi	3/2.0 (+1)	1,154 (+12%)	15mo	$62,500	$54	47
1426 Tupelo St	0.71mi	3/2.0 (+1)	1,104 (+8%)	4mo	$100,000	$91	42
5412 Marais St	0.48mi	3/1.0 (+1)	900 (-12%)	14mo	$131,500	$146	40
1000 Lizardi St	0.46mi	2/2.0	1,160 (+13%)	23mo	$225,000	$194	34
1301 Lamanche St	0.56mi	3/2.0 (+1)	1,178 (+15%)	14mo	$60,000	$51	29

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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.53×
• Total profit: $-20,878
• Equity at exit: $23,707

10-year hold

• IRR: -4.9%
• Equity multiple: 0.69×
• Total profit: $-13,953
• Equity at exit: $13,747

Cash invested: $44,520 (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: 587
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,508 high
• Mortgage (P&I): −$834
• Tax from tax record: −$136 /mo · $1,636/yr
• Insurance: −$66
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $88

Break-even live

Break-even rent $1,396

Max offer price $159,000

Occupancy floor 89%

Sensitivity live

Price	-10% $178	-5% $133	+0% $88	+5% $43	+10% $-2
Rent	-10% $-31	-5% $29	+0% $88	+5% $148	+10% $208
Rate	-1.0pp $168	-0.5pp $129	base $88	+0.5pp $47	+1.0pp $5

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5434 Chartres St New Orleans, LA	2.0	1.0	800	$1,150	$1.44	25d	1	0.17mi
6019 Royal St New Orleans, LA	2.0	1.0	790	$1,200	$1.52	25d	1	0.23mi
5450 Burgundy St New Orleans, LA	2.0	1.0	1474	$1,250	$0.85	25d	1	0.29mi
906 Flood St New Orleans, LA	3.0	3.0	1174	$1,700	$1.45	3d	1	0.31mi
6038 N Rampart St New Orleans, LA	3.0	2.0	1080	$1,795	$1.66	25d	1	0.39mi
617 Forstall St New Orleans, LA	3.0	2.0	1262	$2,200	$1.74	4d	1	0.39mi
18 Saint Claude Ct New Orleans, LA	3.0	1.0	864	$1,200	$1.39	13d	1	0.41mi
716 Delery St Unit 716 New Orleans, LA	2.0	1.0	900	$1,200	$1.33	25d	1	0.42mi
6002 Saint Claude Ave New Orleans, LA	2.0	2.0	965	$1,275	$1.32	22d	1	0.45mi
619 Reynes St New Orleans, LA	3.0	2.0	1318	$2,100	$1.59	17d	1	0.45mi
5805 Saint Claude Ave New Orleans, LA	2.0	1.0	800	$1,200	$1.50	25d	1	0.46mi
816 Forstall St New Orleans, LA	3.0	1.0	850	$1,600	$1.88	25d	1	0.47mi
5109 Burgundy St New Orleans, LA	2.0	1.0	1122	$1,474	$1.31	18d	1	0.47mi
920 Forstall St New Orleans, LA	2.0	1.0	800	$1,600	$2.00	25d	1	0.51mi
918 Forstall St New Orleans, LA	2.0	1.0	800	$2,290	$2.86	25d	1	0.51mi
1201 Gordon St New Orleans, LA	3.0	2.5	1367	$1,900	$1.39	18d	1	0.54mi
6530 Royal St Arabi, LA	2.0	2.0	860	$1,550	$1.80	45d	1	0.54mi
4950 Dauphine St New Orleans, LA	1.0	1.0	612	$1,750	$2.86	12d	16	0.54mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1178	$1,600	$1.36	25d	1	0.58mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	4d	1	0.58mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	4d	1	0.58mi
6608 Dauphine St Arabi, LA	2.0	1.0	989	$1,395	$1.41	12d	1	0.60mi
6608 Dauphine St Unit 6608 Arabi, LA	2.0	1.0	989	$1,325	$1.34	4d	1	0.60mi
1327 Fats Domino Ave Unit A New Orleans, LA	3.0	2.0	1200	$1,900	$1.58	4d	1	0.63mi
4801 Dauphine St Unit B New Orleans, LA	2.0	1.0	875	$1,100	$1.26	25d	1	0.65mi
1015 Government St Unit 11 Arabi, LA	2.0	1.0	720	$999	$1.39	45d	1	0.66mi
4826 N Rampart St Unit 4826 New Orleans, LA	2.0	1.0	850	$1,200	$1.41	25d	1	0.66mi
1334 Tricou St New Orleans, LA	2.0	1.0	1117	$1,500	$1.34	22d	1	0.71mi
1422 Andry St New Orleans, LA	3.0	2.0	1100	$1,400	$1.27	4d	1	0.71mi
1137 Deslonde St New Orleans, LA	2.0	1.0	1017	$1,500	$1.47	25d	1	0.73mi
1449 Andry St New Orleans, LA	2.0	1.0	833	$1,300	$1.56	25d	1	0.73mi
438 Friscoville Ave Arabi, LA	3.0	2.0	1500	$3,200	$2.13	4d	1	0.78mi
1420 Delery St New Orleans, LA	2.0	1.0	900	$1,250	$1.39	13d	1	0.79mi
616 Lebeau St Unit A Arabi, LA	2.0	1.0	1205	$1,650	$1.37	45d	1	0.85mi
1333 Angela Ave Arabi, LA	3.0	2.0	1090	$1,850	$1.70	4d	1	0.85mi
5900 N Derbigny St Unit 1 New Orleans, LA	3.0	2.0	1000	$1,950	$1.95	4d	1	0.86mi
1304 Jourdan Ave New Orleans, LA	2.0	2.0	890	$959	$1.08	17d	6	0.87mi
1200 Southlawn Blvd New Orleans, LA	3.0	2.0	950	$1,725	$1.82	25d	1	0.90mi
1227 Flanders St New Orleans, LA	2.0	1.0	900	$1,000	$1.11	25d	1	0.92mi
713 Community St Arabi, LA	2.0	1.0	850	$1,200	$1.41	4d	1	0.94mi

Listing history 18 events

1. 2026-06-21
   days on market $159,000 Active 82 DOM
2. 2026-06-18
   days on market $159,000 Active 79 DOM
3. 2026-06-17
   days on market $159,000 Active 78 DOM
4. 2026-06-16
   days on market $159,000 Active 77 DOM
5. 2026-06-15
   days on market $159,000 Active 76 DOM
6. 2026-06-13
   days on market $159,000 Active 74 DOM
7. 2026-06-10
   days on market $159,000 Active 71 DOM
8. 2026-06-09
   days on market $159,000 Active 70 DOM
9. 2026-06-08
   days on market $159,000 Active 69 DOM
10. 2026-06-07
    days on market $159,000 Active 68 DOM
11. 2026-06-05
    days on market $159,000 Active 65 DOM
12. 2026-06-03
    days on market $159,000 Active 64 DOM
13. 2026-06-02
    days on market $159,000 Active 63 DOM
14. 2026-06-01
    days on market $159,000 Active 62 DOM
15. 2026-05-31
    days on market $159,000 Active 61 DOM
16. 2026-03-31
    listed $159,000 Active 655-char remark

    Show marketing remark (639 chars)

    507 Fats Domino Avenue | New Orleans, LA---Welcome to this 9th Ward jewel, perfectly positioned on a quiet street and full of potential! This all-brick home, off-street parking, fully fenced yard, and a large patio-- The home is move-in ready, yet offers the perfect opportunity for updates to truly make it your own and elevate it to perfection. Whether you're a first-time buyer, investor, or downsizing, this property delivers both value and versatility--solid construction, outdoor living space, and quiet neighborhood setting. All of this at an incredible value of $159,000--don't miss your chance to own a piece of New Orleans charm.

17. 2026-03-31
    listed $159,000 Active 639-char remark

    Show marketing remark (639 chars)

    507 Fats Domino Avenue | New Orleans, LA---Welcome to this 9th Ward jewel, perfectly positioned on a quiet street and full of potential! This all-brick home, off-street parking, fully fenced yard, and a large patio-- The home is move-in ready, yet offers the perfect opportunity for updates to truly make it your own and elevate it to perfection. Whether you're a first-time buyer, investor, or downsizing, this property delivers both value and versatility--solid construction, outdoor living space, and quiet neighborhood setting. All of this at an incredible value of $159,000--don't miss your chance to own a piece of New Orleans charm.

18. 1985-08-21
    soldstatus $55,000

ⓘ 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: $1,636 · $136/mo
• Projected year-2 tax: $1,636 · $136/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 ≥108°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: $18,096
• − Mortgage interest: −$8,906
• − Property taxes: −$1,636
• − Insurance: −$1,592
• − Repairs & maintenance: −$1,448
• − Management: −$1,448
• − Depreciation: −$4,625
• Taxable loss: −$1,560
• Est. tax savings @ 24.0%: +$374
• After-tax cash flow: $1,436/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): 25,652
• 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

+189.1% since first listed

3 events — show timeline

• 2026-03-31 Listed $159,000 AcadianaMLS
• 2026-03-31 Listed $159,000 GSREIN
• 1985-08-21 Sold (Public Records) $55,000 Public Records

Property tax history

+5.9%/yr

Latest (2026): $1,636 · +1.1% YoY. Source: county tax records.