7110-12 Boston Dr · New Orleans, LA 70127

$190,000

5 bd · 3.0 ba · 2,544 sqft · MultiFamily public records · 14 Days on market

Built 1978 6,900 sqft lot Est $216k · 12% 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 +30.0/30.0
• ARV discount +13.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Great opportunity to own an income producing brick 3/2 & 2/1 double. featuring a spacious floor plan , ceramic tile, separate laundry storage rooms & carports. The seller is contemplating selling other properties. Please make inquiries through the listing agent. .

Key facts

• Spacious floor plan
• Ceramic tile
• Carports

Tags

• SPACIOUS FLOOR PLAN
• CERAMIC TILE
• SEPARATE LAUNDRY STORAGE ROOMS
• CARPORTS

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $974 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Cap rate 12.9% 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: 130 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,903/mo this rent would consume 85% of the median local household income ($41k/yr) (locally 2030% 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $110k; list at $190k implies a 73% 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 $190,000

Questions for the listing agent

1. Built in 1978 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.53% ✓
• Cap rate: 12.86%
• Cash-on-cash: 23.46%
• DSCR: 2.04
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $216,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7120 22 Bunker Hill Rd	0.11mi	5/3.0	2,450 (-4%)	6mo	$212,500	$87	83
7100 02 Bunker Hill Rd	0.10mi	5/3.0	2,450 (-4%)	8mo	$225,000	$92	82
7001-7003 Yorktown Dr	0.09mi	6/3.0 (+1)	2,706 (+6%)	1mo	$183,500	$68	79
7140 42 Boston Dr	0.05mi	5/3.0	2,648 (+4%)	14mo	$225,000	$85	79
7160 Bunker Hill Rd	0.12mi	5/3.0	2,718 (+7%)	7mo	$190,000	$70	77
7131 Yorktown Dr	0.05mi	5/3.0	2,814 (+11%)	7mo	$179,000	$64	74
7143 Boston Dr	0.06mi	5/3.0	2,648 (+4%)	20mo	$208,000	$79	74
9110 Morrison Rd	0.20mi	6/4.0 (+1)	2,528 (-1%)	13mo	$230,000	$91	69
8921 23 Gervais St	0.52mi	5/3.0	2,373 (-7%)	14mo	$194,000	$82	52
8601 Dinkins St	0.61mi	5/3.0	2,303 (-10%)	12mo	$160,000	$69	45
8821-23 Dinkins St	0.57mi	5/3.0	2,166 (-15%)	7mo	$195,000	$90	43
8901 03 Dinkins St	0.57mi	5/2.0	2,165 (-15%)	18mo	$225,000	$104	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.7%
• Equity multiple: 1.59×
• Total profit: $31,263
• Equity at exit: $28,330

10-year hold

• IRR: 23.4%
• Equity multiple: 3.02×
• Total profit: $107,257
• Equity at exit: $16,428

Cash invested: $53,200 (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 70127

• Home prices YoY: -29.2%
• Active inventory: 130
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,903 high
• Mortgage (P&I): −$996
• Tax from tax record: −$178 /mo · $2,134/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$610
• Net cashflow: $974

Break-even live

Break-even rent $1,671

Max offer price $190,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,081	-5% $1,027	+0% $974	+5% $920	+10% $866
Rent	-10% $744	-5% $859	+0% $974	+5% $1,088	+10% $1,203
Rate	-1.0pp $1,069	-0.5pp $1,022	base $974	+0.5pp $924	+1.0pp $874

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,515
1× unit	2	1	$1,388
Total (2 units)			$2,903

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7063 Boston Dr New Orleans, LA	4.0	2.5	1750	$1,900	$1.09	17d	1	0.05mi

Listing history 2 events

1. 2026-06-16
   remarks 268-char remark
2. 2026-06-16
   listed $190,000 Pending 14 DOM

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

Tax reassessment forecast LA · Resets to sale price

• Current annual tax: $2,134 · $178/mo
• Projected year-2 tax: $2,134 · $178/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 9/10 Extreme 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: $34,836
• − Mortgage interest: −$10,643
• − Property taxes: −$2,134
• − Insurance: −$1,748
• − Repairs & maintenance: −$2,787
• − Management: −$2,787
• − Depreciation: −$5,527
• Taxable income: $9,210
• Est. tax owed @ 24.0%: −$2,210
• After-tax cash flow: $9,472/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): 23,107
• Household income: $40,765
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2030.0

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 (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 4% Two or more races 4% White 2%
• Common ancestry: Lithuanian 1% Hispanic 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -72.43%
• Current HPI: 175.4465
• Rent YoY: —
• 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

+288.2% since first listed

5 events — show timeline

• 2025-11-16 Listed $190,000 AcadianaMLS
• 2025-05-17 Price Changed $190,000 AcadianaMLS
• 2025-05-07 Listed $205,000 AcadianaMLS
• 2015-01-20 Sold (Public Records) $110,000 Public Records
• 1989-06-30 Sold (Public Records) $48,950 Public Records

Property tax history

+2.5%/yr

Latest (2026): $2,134 · +1.1% YoY. Source: county tax records.