9009 Fig St · New Orleans, LA 70118

$150,000

2 bd · 1.0 ba · 777 sqft · SingleFamily public records · 59 Days on market

Built 2024 $193/sqft · 12% below area Est $287k · 48% 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 +18.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into luxury with this beautiful renovated 2 bedroom 1 bath single family home! This home will come equipped with new appliances. If you're looking for a home in a quite developed neighborhood nearby most of the city festivities this will be the place for you. College students are welcome. It's minutes from Xavier, all your favorite eateries, and nearby shopping centers. NEED 24 HOUR NOTICE TO SHOW.

Key facts

• Renovated
• New appliances
• Parking

Tags

• RENOVATED
• NEW APPLIANCES
• DEVELOPED NEIGHBORHOOD
• NEARBY SHOPPING CENTERS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $81 ($977/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 $140k (6.8% below list).
• Recommended offer: $140k (6.8% below list) — sets the bar for 1% rule.
• 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.
• Market conditions: Rents flat; 279 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).

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

• It's been on market 59 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 3y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $52k; list at $150k 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 $139,735 (6.8% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
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: 0.93% ✗
• Cap rate: 7.48%
• Cash-on-cash: 4.23%
• DSCR: 1.19
• GRM: 8.9

CMA / ARV

• ARV (median comp): $286,765
• List price: $150,000
• Delta: -47.69%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8917 Apricot St	0.15mi	2/1.0	688 (-12%)	9mo	$104,000	$151	66
9408 Palmetto St	0.55mi	2/1.0	823 (+6%)	16mo	$115,000	$140	51

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 · 0.97% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.48×
• Total profit: $-21,905
• Equity at exit: $22,365

10-year hold

• IRR: -10.0%
• Equity multiple: 0.44×
• Total profit: $-23,367
• Equity at exit: $12,969

Cash invested: $42,000 (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 70118

• Rents YoY: 1.0%
• Active inventory: 279
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,397 high
• Mortgage (P&I): −$787
• Tax from tax record: −$107 /mo · $1,283/yr
• Insurance: −$62
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $81

Break-even live

Break-even rent $1,294

Max offer price $150,000

Occupancy floor 89%

Sensitivity live

Price	-10% $166	-5% $124	+0% $81	+5% $39	+10% $-3
Rent	-10% $-29	-5% $26	+0% $81	+5% $137	+10% $192
Rate	-1.0pp $157	-0.5pp $120	base $81	+0.5pp $43	+1.0pp $3

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8925 Colapissa St New Orleans, LA	2.0	1.0	700	$1,500	$2.14	22d	1	0.05mi
2915 Hollygrove St New Orleans, LA	1.0	1.0	725	$995	$1.37	22d	1	0.09mi
2909 Hollygrove St New Orleans, LA	2.0	1.0	725	$995	$1.37	24d	1	0.10mi
9015 Forshey St Unit 9017 New Orleans, LA	2.0	1.0	804	$1,200	$1.49	17d	1	0.16mi
2817 General Ogden St Unit 2819 New Orleans, LA	2.0	1.0	870	$1,200	$1.38	24d	1	0.18mi
8709 Pritchard Pl New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	22d	1	0.22mi
8637 Belfast St New Orleans, LA	2.0	1.0	800	$1,195	$1.49	24d	1	0.32mi
8610 Apricot St New Orleans, LA	3.0	2.0	1000	$2,200	$2.20	11d	1	0.32mi
2730 Leonidas St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	24d	1	0.34mi
8514 Forshey St New Orleans, LA	3.0	1.0	1030	$1,600	$1.55	24d	1	0.34mi
8812 Apple St New Orleans, LA	3.0	2.0	1085	$1,650	$1.52	16d	1	0.35mi
3316 Joliet St #18 New Orleans, LA	2.0	1.0	800	$1,400	$1.75	24d	1	0.38mi
3620 Hollygrove St Unit B New Orleans, LA	2.0	1.0	872	$1,000	$1.15	15d	1	0.39mi
9122 Nelson St New Orleans, LA	2.0	2.0	1100	$1,550	$1.41	24d	1	0.40mi
8922 Stroelitz St New Orleans, LA	2.0	1.0	750	$1,150	$1.53	16d	1	0.41mi
2428 Eagle St New Orleans, LA	2.0	1.0	840	$1,425	$1.70	24d	1	0.42mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.43mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	4d	1	0.43mi
8633 Nelson St New Orleans, LA	2.0	1.0	800	$1,100	$1.38	2d	1	0.44mi
8841 S Claiborne Ave Unit C New Orleans, LA	1.0	1.0	575	$1,200	$2.09	24d	1	0.44mi
8328 Forshey St New Orleans, LA	2.0	1.0	838	$1,200	$1.43	4d	1	0.45mi
9215 S Claiborne Ave New Orleans, LA	2.0	2.0	1100	$2,000	$1.82	12d	1	0.46mi
8429 Apple St Unit 1B New Orleans, LA	2.0	1.0	803	$1,400	$1.74	24d	1	0.48mi
8417 Apple St New Orleans, LA	2.0	1.0	828	$1,200	$1.45	17d	1	0.48mi
8327 Belfast St heuristic New Orleans, LA	2.0	1.0	800	$1,150	$1.44	25d	1	0.50mi
8327 Belfast St New Orleans, LA	2.0	1.0	800	$1,150	$1.44	15d	1	0.50mi
9540 Stroelitz St Unit 9540 New Orleans, LA	2.0	1.0	949	$1,495	$1.58	24d	1	0.55mi
8508 Palmetto St New Orleans, LA	1.0	1.0	525	$950	$1.81	24d	1	0.56mi
3931 Hamilton St New Orleans, LA	2.0	1.5	870	$1,250	$1.44	16d	1	0.61mi
8127 Belfast St New Orleans, LA	1.0	1.0	621	$1,000	$1.61	24d	1	0.62mi
2311 Joliet St New Orleans, LA	2.0	2.0	950	$1,900	$2.00	24d	1	0.63mi
4008 General Ogden St Unit 4008 New Orleans, LA	2.0	2.0	1000	$1,475	$1.48	15d	1	0.64mi
8205 Nelson St Unit A New Orleans, LA	2.0	1.0	600	$1,000	$1.67	15d	1	0.65mi
4033 Eagle St New Orleans, LA	1.0	1.0	756	$900	$1.19	2d	1	0.69mi
7929 Forshey St New Orleans, LA	1.0	1.0	534	$1,200	$2.25	20d	1	0.73mi
3317 Short St New Orleans, LA	3.0	2.0	900	$1,600	$1.78	24d	1	0.74mi
7927 Forshey St New Orleans, LA	1.0	1.0	700	$1,200	$1.71	24d	1	0.74mi
4 Fontainebleau Dr Unit A New Orleans, LA	1.0	1.0	700	$1,450	$2.07	24d	1	0.75mi
7931 Olive St New Orleans, LA	2.0	1.0	660	$1,175	$1.78	22d	1	0.76mi
3205 Fern St New Orleans, LA	2.0	1.0	938	$1,200	$1.28	22d	1	0.78mi

Listing history 32 events

1. 2026-06-18
   days on market $150,000 Active 59 DOM
2. 2026-06-17
   days on market $150,000 Active 58 DOM
3. 2026-06-16
   days on market $150,000 Active 57 DOM
4. 2026-06-16
   price $150,000 Active 56 DOM
5. 2026-06-15
   days on market $169,900 Active 56 DOM
6. 2026-06-13
   days on market $169,900 Active 54 DOM
7. 2026-06-10
   days on market $169,900 Active 51 DOM
8. 2026-06-09
   pricedays on market $169,900 Active 50 DOM
9. 2026-06-08
   days on market $170,000 Active 49 DOM
10. 2026-06-07
    days on market $170,000 Active 48 DOM
11. 2026-06-05
    days on market $170,000 Active 45 DOM
12. 2026-06-03
    days on market $170,000 Active 44 DOM
13. 2026-06-02
    days on market $170,000 Active 43 DOM
14. 2026-06-01
    days on market $170,000 Active 42 DOM
15. 2026-05-31
    days on market $170,000 Active 41 DOM
16. 2026-05-01
    price $170,000 406-char remark

    Show marketing remark (419 chars)

    Step into luxury with this beautiful renovated 2 bedroom 1 bath single family home! This home will come equipped with new appliances. If you’re looking for a home in a quite developed neighborhood nearby most of the city festivities this will be the place for you. College students are welcome. It’s minutes from Xavier, all your favorite eateries, and nearby shopping centers. NEED 24 HOUR NOTICE TO SHOW.

17. 2026-05-01
    price $170,000 419-char remark

    Show marketing remark (419 chars)

    Step into luxury with this beautiful renovated 2 bedroom 1 bath single family home! This home will come equipped with new appliances. If you’re looking for a home in a quite developed neighborhood nearby most of the city festivities this will be the place for you. College students are welcome. It’s minutes from Xavier, all your favorite eateries, and nearby shopping centers. NEED 24 HOUR NOTICE TO SHOW.

18. 2026-04-19
    listed $175,000 Active 406-char remark

    Show marketing remark (419 chars)

    Step into luxury with this beautiful renovated 2 bedroom 1 bath single family home! This home will come equipped with new appliances. If you’re looking for a home in a quite developed neighborhood nearby most of the city festivities this will be the place for you. College students are welcome. It’s minutes from Xavier, all your favorite eateries, and nearby shopping centers. NEED 24 HOUR NOTICE TO SHOW.

19. 2026-04-19
    listed $175,000 Active 419-char remark

    Show marketing remark (419 chars)

    Step into luxury with this beautiful renovated 2 bedroom 1 bath single family home! This home will come equipped with new appliances. If you’re looking for a home in a quite developed neighborhood nearby most of the city festivities this will be the place for you. College students are welcome. It’s minutes from Xavier, all your favorite eateries, and nearby shopping centers. NEED 24 HOUR NOTICE TO SHOW.

20. 2025-09-30
    historical $1,750
21. 2025-08-14
    listed $1,750
22. 2025-05-07
    historical $1,750
23. 2025-03-04
    listed $1,750
24. 2023-10-20
    soldstatus $51,875 Closed
25. 2023-07-19
    status Pending
26. 2023-07-12
    status Active
27. 2023-05-31
    status Pending
28. 2023-05-22
    status Active
29. 2023-05-22
    price $60,000
30. 2023-04-28
    status Pending
31. 2023-04-14
    listed $65,000 Active
32. 2023-04-14
    listed $60,000

ⓘ 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: $1,283 · $107/mo
• Projected year-2 tax: $1,283 · $107/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) · 76% 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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,768
• − Mortgage interest: −$8,402
• − Property taxes: −$1,283
• − Insurance: −$1,547
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − Depreciation: −$4,364
• Taxable loss: −$1,511
• Est. tax savings @ 24.0%: +$363
• After-tax cash flow: $1,340/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): 36,072
• Household income: $63,750
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 2237.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 47% Black 34% Hispanic / Latino 11% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Italian 2% Romanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 86% English-only · Spanish 7% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -210.46%
• Current HPI: 282.9629
• Rent YoY: ▲ 0.97%
• 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

+161.5% since first listed

17 events — show timeline

• 2026-05-01 Price Changed $170,000 AcadianaMLS
• 2026-05-01 Price Changed $170,000 GSREIN
• 2026-04-19 Listed $175,000 GSREIN
• 2026-04-19 Listed $175,000 AcadianaMLS
• 2025-09-30 Rental Removed $1,750 GSREIN
• 2025-08-14 Listed for Rent $1,750 GSREIN
• 2025-05-07 Rental Removed $1,750 GSREIN
• 2025-03-04 Listed for Rent $1,750 GSREIN
• 2023-10-20 Sold (MLS) $51,875 GSREIN
• 2023-07-19 Pending — GSREIN
• 2023-07-12 Relisted — GSREIN
• 2023-05-31 Pending — GSREIN
• 2023-05-22 Relisted — GSREIN
• 2023-05-22 Price Changed $60,000 GSREIN
• 2023-04-28 Pending — GSREIN
• 2023-04-14 Listed $60,000 AcadianaMLS
• 2023-04-14 Listed $65,000 GSREIN

Property tax history

+6.3%/yr

Latest (2026): $1,283 · +1.1% YoY. Source: county tax records.