2332 Lapeyrouse St · New Orleans, LA 70119

$89,000

1 bd · 1.0 ba · 616 sqft · SingleFamily public records · 76 Days on market

Built 1958 $144/sqft · 53% below area

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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 +29.8/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks MLS

Great investment opportunity in the heart of New Orleans! This 1-bedroom, 1-bath vacant property offers endless potential for the savvy investor or renovator. With its prime location near local dining, shopping, and entertainment, this home is perfectly positioned for a rental, short-term investment, or personal project. Bring your vision and transform this space into something special--whether you're looking to add to your portfolio or create a charming city retreat, the possibilities are there. Don't miss out on this chance to invest in one of New Orleans' most sought-after areas!

Key facts

• Parking
• Built 1958
• Listed 76 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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); 381 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 31% of the median local income ($53k/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 $615 of loan paydown is wiped out by about $3k 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 76 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y ago; this cycle's ask has dropped $36k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; flood insurance adds $66/mo; built in 1958 — 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 $83,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 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 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.53% ✓
• Cap rate: 10.68%
• Cash-on-cash: 15.67%
• DSCR: 1.70
• GRM: 5.5

CMA / ARV

• ARV (median comp): $185,252
• List price: $89,000
• Delta: -51.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1566 N Johnson St	0.26mi	2/1.0 (+1)	612 (-1%)	18mo	$73,440	$120	66
2226 Saint Ann St	0.71mi	2/1.0 (+1)	612 (-1%)	15mo	$111,000	$181	49
3044 Maurepas St	0.65mi	1/1.0	704 (+14%)	8mo	$212,000	$301	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: -2.0%
• Equity multiple: 0.93×
• Total profit: $-1,771
• Equity at exit: $13,270

10-year hold

• IRR: 3.2%
• Equity multiple: 1.20×
• Total profit: $4,876
• Equity at exit: $7,695

Cash invested: $24,920 (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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,360 high
• Mortgage (P&I): −$467
• Tax from tax record: −$245 /mo · $2,943/yr
• Insurance: −$37
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $259

Break-even live

Break-even rent $1,032

Max offer price $89,000

Occupancy floor 76%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2415 Columbus St Unit D New Orleans, LA	2.0	1.0	654	$1,700	$2.60	3d	1	0.10mi
1636 N Miro St New Orleans, LA	1.0	1.0	600	$1,295	$2.16	3d	1	0.16mi
1636 N Miro St New Orleans, LA	1.0	1.0	600	$1,295	$2.16	14d	1	0.16mi
1765 N Tonti St Unit 1767 New Orleans, LA	1.0	1.0	693	$1,295	$1.87	2d	1	0.33mi
1776 N Miro St New Orleans, LA	2.0	1.0	700	$1,100	$1.57	24d	1	0.36mi
2110 Bayou Rd Unit 5 New Orleans, LA	1.0	1.0	600	$1,250	$2.08	24d	1	0.38mi
1435 Crete St Unit 4 New Orleans, LA	1.0	1.0	640	$1,200	$1.88	12d	1	0.38mi
2846 Grand Route Saint John St Unit 4 New Orleans, LA	—	1.0	600	$1,100	$1.83	24d	1	0.41mi
2846 Maurepas St New Orleans, LA	2.0	1.0	625	$1,500	$2.40	3d	1	0.43mi
1818 Esplanade Ave Unit 1B New Orleans, LA	2.0	1.0	700	$2,200	$3.14	24d	1	0.45mi
1100 N Broad St Unit Rear New Orleans, LA	1.0	1.0	518	$1,400	$2.70	24d	1	0.45mi
2332 Ursulines Ave Unit B New Orleans, LA	2.0	1.0	700	$1,400	$2.00	24d	1	0.46mi
2921 Lepage St Unit B New Orleans, LA	1.0	1.0	500	$1,450	$2.90	3d	1	0.55mi
2921 Lepage St Unit B New Orleans, LA	1.0	1.0	500	$1,450	$2.90	3d	1	0.55mi
1128 N Roman St New Orleans, LA	1.0	1.0	600	$1,400	$2.33	3d	1	0.56mi
1128 N Roman St New Orleans, LA	2.0	2.0	600	$1,400	$2.33	24d	1	0.56mi
2724 Saint Philip St New Orleans, LA	1.0	1.0	700	$1,750	$2.50	2d	1	0.57mi
2741 Bruxelles St New Orleans, LA	2.0	1.0	732	$1,500	$2.05	3d	1	0.62mi
2741 Bruxelles St New Orleans, LA	2.0	1.0	732	$1,500	$2.05	3d	1	0.62mi
906 N White St New Orleans, LA	2.0	1.0	522	$1,000	$1.92	14d	1	0.64mi
1615 Governor Nicholls St Apt 103 New Orleans, LA	1.0	1.0	600	$1,050	$1.75	21d	1	0.66mi
1423 N Villere St Unit B New Orleans, LA	1.0	1.0	558	$1,500	$2.69	24d	1	0.68mi
1866 Gentilly Blvd Unit 4 New Orleans, LA	1.0	1.0	400	$925	$2.31	12d	1	0.68mi
2311 Saint Anthony St Unit 1B New Orleans, LA	2.0	1.0	750	$1,350	$1.80	24d	1	0.70mi
1815 N Claiborne Ave Unit 103 A New Orleans, LA	1.0	1.0	572	$1,050	$1.84	24d	1	0.73mi
2723 Orleans Ave New Orleans, LA	1.0	1.0	750	$990	$1.32	3d	1	0.73mi
2723 Orleans Ave New Orleans, LA	1.0	1.0	750	$990	$1.32	24d	1	0.73mi
1381 Annette St Unit A New Orleans, LA	2.0	1.0	670	$1,100	$1.64	24d	1	0.74mi
1725 Dumaine St Unit 104 New Orleans, LA	2.0	1.0	500	$1,150	$2.30	24d	1	0.74mi
1725 Dumaine St Unit 101 New Orleans, LA	1.0	1.0	400	$950	$2.38	24d	1	0.74mi
1328 Esplanade Ave Unit HM New Orleans, LA	1.0	1.0	595	$1,750	$2.94	24d	1	0.74mi
1315 Columbus St New Orleans, LA	1.0	1.0	662	$1,400	$2.11	3d	1	0.74mi
3208 Desoto St Unit DeSoto Downstairs New Orleans, LA	1.0	1.0	650	$1,500	$2.31	12d	1	0.75mi
3232 Grand Route Saint John St Unit B New Orleans, LA	1.0	1.0	650	$1,800	$2.77	17d	1	0.77mi
3208 Trafalgar St Unit Cozy New Orleans, LA	1.0	1.0	540	$1,500	$2.78	3d	1	0.77mi
2831 Orleans Ave Unit 2831 New Orleans, LA	1.0	1.0	663	$1,150	$1.73	24d	1	0.78mi
2831 Orleans Ave Unit 2829 New Orleans, LA	1.0	1.0	663	$1,200	$1.81	24d	1	0.78mi
1810 Touro St New Orleans, LA	2.0	1.0	700	$1,140	$1.63	24d	1	0.78mi
2640 Saint Peter St New Orleans, LA	1.0	1.0	610	$1,011	$1.66	24d	1	0.78mi
1523 Saint Philip St Unit A New Orleans, LA	2.0	1.0	648	$1,250	$1.93	24d	1	0.80mi

Listing history 25 events

1. 2026-06-18
   days on market $89,000 Active 76 DOM
2. 2026-06-17
   days on market $89,000 Active 75 DOM
3. 2026-06-16
   days on market $89,000 Active 74 DOM
4. 2026-06-15
   days on market $89,000 Active 73 DOM
5. 2026-06-13
   days on market $89,000 Active 71 DOM
6. 2026-06-10
   days on market $89,000 Active 68 DOM
7. 2026-06-09
   days on market $89,000 Active 67 DOM
8. 2026-06-08
   days on market $89,000 Active 66 DOM
9. 2026-06-07
   days on market $89,000 Active 65 DOM
10. 2026-06-05
    pricedays on market $89,000 Active 62 DOM
11. 2026-06-03
    days on market $115,000 Active 61 DOM
12. 2026-06-02
    days on market $115,000 Active 60 DOM
13. 2026-06-01
    days on market $115,000 Active 59 DOM
14. 2026-05-31
    days on market $115,000 Active 58 DOM
15. 2026-04-30
    price $115,000 589-char remark

    Show marketing remark (606 chars)

    Great investment opportunity in the heart of New Orleans! This 1-bedroom, 1-bath vacant property offers endless potential for the savvy investor or renovator. With its prime location near local dining, shopping, and entertainment, this home is perfectly positioned for a rental, short-term investment, or personal project. Bring your vision and transform this space into something special—whether you're looking to add to your portfolio or create a charming city retreat, the possibilities are there. Don’t miss out on this chance to invest in one of New Orleans’ most sought-after areas!

16. 2026-04-30
    price $115,000 606-char remark

    Show marketing remark (606 chars)

    Great investment opportunity in the heart of New Orleans! This 1-bedroom, 1-bath vacant property offers endless potential for the savvy investor or renovator. With its prime location near local dining, shopping, and entertainment, this home is perfectly positioned for a rental, short-term investment, or personal project. Bring your vision and transform this space into something special—whether you're looking to add to your portfolio or create a charming city retreat, the possibilities are there. Don’t miss out on this chance to invest in one of New Orleans’ most sought-after areas!

17. 2026-04-03
    listed $125,000 Active 589-char remark

    Show marketing remark (606 chars)

    Great investment opportunity in the heart of New Orleans! This 1-bedroom, 1-bath vacant property offers endless potential for the savvy investor or renovator. With its prime location near local dining, shopping, and entertainment, this home is perfectly positioned for a rental, short-term investment, or personal project. Bring your vision and transform this space into something special—whether you're looking to add to your portfolio or create a charming city retreat, the possibilities are there. Don’t miss out on this chance to invest in one of New Orleans’ most sought-after areas!

18. 2026-04-03
    listed $125,000 Active 606-char remark

    Show marketing remark (606 chars)

    Great investment opportunity in the heart of New Orleans! This 1-bedroom, 1-bath vacant property offers endless potential for the savvy investor or renovator. With its prime location near local dining, shopping, and entertainment, this home is perfectly positioned for a rental, short-term investment, or personal project. Bring your vision and transform this space into something special—whether you're looking to add to your portfolio or create a charming city retreat, the possibilities are there. Don’t miss out on this chance to invest in one of New Orleans’ most sought-after areas!

19. 2021-08-10
    soldstatus $243,000
20. 2021-03-25
    soldstatus $245,000
21. 2019-09-03
    soldstatus $710,000
22. 2008-09-15
    listed $99,000
23. 2008-09-15
    listed $99,000
24. 2008-03-11
    listed $95,000
25. 2008-03-11
    listed $95,000

ⓘ 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: $2,943 · $245/mo
• Projected year-2 tax: $2,943 · $245/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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,322
• − Mortgage interest: −$4,985
• − Property taxes: −$2,943
• − Insurance: −$1,242
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − Depreciation: −$2,589
• Taxable income: $1,950
• Est. tax owed @ 24.0%: −$468
• After-tax cash flow: $2,640/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): 37,253
• Household income: $53,143
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3381.0

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 0.64)
• Race & ethnicity: Black 44% White 40% Two or more races 10% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 0%

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: ▼ -135.38%
• Current HPI: 253.1929
• Rent YoY: ▼ -0.20%
• 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

+21.1% since first listed

11 events — show timeline

• 2026-04-30 Price Changed $115,000 AcadianaMLS
• 2026-04-30 Price Changed $115,000 GSREIN
• 2026-04-03 Listed $125,000 GSREIN
• 2026-04-03 Listed $125,000 AcadianaMLS
• 2021-08-10 Sold (Public Records) $243,000 Public Records
• 2021-03-25 Sold (Public Records) $245,000 Public Records
• 2019-09-03 Sold (Public Records) $710,000 Public Records
• 2008-09-15 Listed $99,000 GSREIN
• 2008-09-15 Listed $99,000 AcadianaMLS
• 2008-03-11 Listed $95,000 GSREIN
• 2008-03-11 Listed $95,000 AcadianaMLS

Property tax history

+9.7%/yr

Latest (2026): $2,943 · +1.1% YoY. Source: county tax records.