2614 Cherry St · New Orleans, LA 70118

$91,000

3 bd · 1.0 ba · 789 sqft · SingleFamily public records · 99 Days on market

Built 1950 1,298 sqft lot $115/sqft · 46% below area Est $169k · 46% under ↓ 6% since listing

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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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Excellent investment opportunity in a highly desirable neighborhood. Whether you're searching for a single-family home or looking to expand your investment portfolio, this property is a great choice. Don't miss the chance to seize this opportunity today and bring your vision to restore and improve this property. PROPERTY IS A SUCESSION PROPERTY, SELLER POSSESSES NO INFORMATION REGARDING THE PROPERTY. When entering the property, unlock only the top lock, as the bottom lock does not function. Push the door open after unlocking the top lock. COMBO LOCK 2121

Key facts

• 1,298 sq ft lot
• Built 1950
• Listed 99 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $91k.

Deal economics

• At list price, monthly cash flow is $652 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $91k).
• Recommended offer: $83k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.8% 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 21d 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 30% of the median local income ($64k/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 $629 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.
• At projected returns (-3.0% appreciation + 1.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — 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 $82,810 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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: 1.77% ✓
• Cap rate: 15.77%
• Cash-on-cash: 33.85%
• DSCR: 2.51
• GRM: 4.7

CMA / ARV

• ARV (median comp): $169,326
• List price: $91,000
• Delta: -46.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8917 Apricot St	0.28mi	2/1.0 (-1)	688 (-13%)	9mo	$104,000	$151	53
9029 Green St	0.65mi	3/1.0	800 (+1%)	21mo	$165,000	$206	50
1919 Joliet St	0.73mi	2/1.0 (-1)	780 (-1%)	16mo	$155,000	$199	46
9408 Palmetto St	0.75mi	2/1.0 (-1)	823 (+4%)	16mo	$115,000	$140	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 · 0.97% rent growth · sell at horizon

5-year hold

• IRR: 23.2%
• Equity multiple: 1.93×
• Total profit: $23,602
• Equity at exit: $13,568

10-year hold

• IRR: 29.8%
• Equity multiple: 3.41×
• Total profit: $61,439
• Equity at exit: $7,868

Cash invested: $25,480 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,609 high
• Mortgage (P&I): −$477
• Tax from tax record: −$37 /mo · $442/yr
• Insurance: −$38
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $652

Break-even live

Break-even rent $783

Max offer price $91,000

Occupancy floor 54%

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: $22,750
• Closing costs: $2,730
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9215 S Claiborne Ave New Orleans, LA	2.0	2.0	1100	$2,000	$1.82	11d	1	0.14mi
9122 Nelson St New Orleans, LA	2.0	2.0	1100	$1,550	$1.41	23d	1	0.16mi
2909 Hollygrove St New Orleans, LA	2.0	1.0	725	$995	$1.37	23d	1	0.32mi
8812 Apple St New Orleans, LA	3.0	2.0	1085	$1,650	$1.52	16d	1	0.34mi
2817 General Ogden St Unit 2819 New Orleans, LA	2.0	1.0	870	$1,200	$1.38	23d	1	0.35mi
2428 Eagle St New Orleans, LA	2.0	1.0	840	$1,425	$1.70	23d	1	0.36mi
8925 Colapissa St New Orleans, LA	2.0	1.0	700	$1,500	$2.14	21d	1	0.42mi
8637 Belfast St New Orleans, LA	2.0	1.0	800	$1,195	$1.49	23d	1	0.44mi
8633 Nelson St New Orleans, LA	2.0	1.0	800	$1,100	$1.38	2d	1	0.45mi
8709 Pritchard Pl New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	21d	1	0.46mi
2730 Leonidas St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	23d	1	0.48mi
8610 Apricot St New Orleans, LA	3.0	2.0	1000	$2,200	$2.20	10d	1	0.49mi
9015 Forshey St Unit 9017 New Orleans, LA	2.0	1.0	804	$1,200	$1.49	17d	1	0.50mi
8429 Apple St Unit 1B New Orleans, LA	2.0	1.0	803	$1,400	$1.74	23d	1	0.58mi
439 Brooklyn Ave New Orleans, LA	2.0	1.0	1000	$1,650	$1.65	43d	1	0.59mi
1916 Eagle St New Orleans, LA	3.0	2.0	1000	$1,250	$1.25	3d	1	0.60mi
1916 Eagle St New Orleans, LA	3.0	2.0	1000	$1,250	$1.25	23d	1	0.60mi
8417 Apple St New Orleans, LA	2.0	1.0	828	$1,200	$1.45	17d	1	0.60mi
2311 Joliet St New Orleans, LA	2.0	2.0	950	$1,900	$2.00	23d	1	0.62mi
2616 Cambronne St New Orleans, LA	4.0	1.0	996	$1,350	$1.36	23d	1	0.62mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.63mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.63mi
8327 Belfast St New Orleans, LA	2.0	1.0	800	$1,150	$1.44	14d	1	0.66mi
8327 Belfast St heuristic New Orleans, LA	2.0	1.0	800	$1,150	$1.44	25d	1	0.66mi
8514 Forshey St New Orleans, LA	3.0	1.0	1030	$1,600	$1.55	23d	1	0.68mi
9540 Stroelitz St Unit 9540 New Orleans, LA	2.0	1.0	949	$1,495	$1.58	23d	1	0.71mi
3620 Hollygrove St Unit B New Orleans, LA	2.0	1.0	872	$1,000	$1.15	14d	1	0.71mi
3316 Joliet St #18 New Orleans, LA	2.0	1.0	800	$1,400	$1.75	23d	1	0.73mi
8922 Stroelitz St New Orleans, LA	2.0	1.0	750	$1,150	$1.53	16d	1	0.75mi
8205 Nelson St Unit A New Orleans, LA	2.0	1.0	600	$1,000	$1.67	14d	1	0.76mi
8635 Green St New Orleans, LA	3.0	1.0	950	$950	$1.00	14d	1	0.77mi
8423 Cohn St New Orleans, LA	2.0	2.0	887	$1,700	$1.92	23d	1	0.77mi
8421 Cohn St New Orleans, LA	2.0	2.0	887	$1,750	$1.97	23d	1	0.78mi
8328 Forshey St New Orleans, LA	2.0	1.0	838	$1,200	$1.43	3d	1	0.78mi
117 Addison St New Orleans, LA	2.0	1.5	1088	$1,350	$1.24	23d	1	0.78mi
127 Addison St New Orleans, LA	2.0	1.0	800	$1,500	$1.88	43d	1	0.79mi
2022 Dante St New Orleans, LA	2.0	1.0	989	$1,300	$1.31	3d	1	0.79mi
8609 Green St New Orleans, LA	3.0	2.0	1009	$1,800	$1.78	17d	1	0.79mi
8607 Green St New Orleans, LA	2.0	1.0	735	$1,300	$1.77	23d	1	0.80mi
8943 Jeannette St New Orleans, LA	2.0	2.0	1040	$1,375	$1.32	11d	1	0.80mi

Listing history 22 events

1. 2026-06-18
   days on market $91,000 Active 99 DOM
2. 2026-06-17
   days on market $91,000 Active 98 DOM
3. 2026-06-16
   days on market $91,000 Active 97 DOM
4. 2026-06-15
   days on market $91,000 Active 96 DOM
5. 2026-06-13
   days on market $91,000 Active 94 DOM
6. 2026-06-10
   days on market $91,000 Active 91 DOM
7. 2026-06-09
   days on market $91,000 Active 90 DOM
8. 2026-06-08
   days on market $91,000 Active 89 DOM
9. 2026-06-07
   days on market $91,000 Active 88 DOM
10. 2026-06-05
    days on market $91,000 Active 85 DOM
11. 2026-06-03
    days on market $91,000 Active 84 DOM
12. 2026-06-02
    days on market $91,000 Active 83 DOM
13. 2026-06-01
    days on market $91,000 Active 82 DOM
14. 2026-05-31
    days on market $91,000 Active 81 DOM
15. 2026-05-19
    price $91,000 560-char remark

    Show marketing remark (560 chars)

    Excellent investment opportunity in a highly desirable neighborhood. Whether you're searching for a single-family home or looking to expand your investment portfolio, this property is a great choice. Don't miss the chance to seize this opportunity today and bring your vision to restore and improve this property. PROPERTY IS A SUCESSION PROPERTY, SELLER POSSESSES NO INFORMATION REGARDING THE PROPERTY. When entering the property, unlock only the top lock, as the bottom lock does not function. Push the door open after unlocking the top lock. COMBO LOCK 2121

16. 2026-05-19
    price $91,000 560-char remark

    Show marketing remark (560 chars)

    Excellent investment opportunity in a highly desirable neighborhood. Whether you're searching for a single-family home or looking to expand your investment portfolio, this property is a great choice. Don't miss the chance to seize this opportunity today and bring your vision to restore and improve this property. PROPERTY IS A SUCESSION PROPERTY, SELLER POSSESSES NO INFORMATION REGARDING THE PROPERTY. When entering the property, unlock only the top lock, as the bottom lock does not function. Push the door open after unlocking the top lock. COMBO LOCK 2121

17. 2026-05-07
    price $92,500 560-char remark

    Show marketing remark (560 chars)

    Excellent investment opportunity in a highly desirable neighborhood. Whether you're searching for a single-family home or looking to expand your investment portfolio, this property is a great choice. Don't miss the chance to seize this opportunity today and bring your vision to restore and improve this property. PROPERTY IS A SUCESSION PROPERTY, SELLER POSSESSES NO INFORMATION REGARDING THE PROPERTY. When entering the property, unlock only the top lock, as the bottom lock does not function. Push the door open after unlocking the top lock. COMBO LOCK 2121

18. 2026-05-07
    price $92,500 560-char remark

    Show marketing remark (560 chars)

    Excellent investment opportunity in a highly desirable neighborhood. Whether you're searching for a single-family home or looking to expand your investment portfolio, this property is a great choice. Don't miss the chance to seize this opportunity today and bring your vision to restore and improve this property. PROPERTY IS A SUCESSION PROPERTY, SELLER POSSESSES NO INFORMATION REGARDING THE PROPERTY. When entering the property, unlock only the top lock, as the bottom lock does not function. Push the door open after unlocking the top lock. COMBO LOCK 2121

19. 2026-05-01
    price $94,100 560-char remark

    Show marketing remark (560 chars)

    Excellent investment opportunity in a highly desirable neighborhood. Whether you're searching for a single-family home or looking to expand your investment portfolio, this property is a great choice. Don't miss the chance to seize this opportunity today and bring your vision to restore and improve this property. PROPERTY IS A SUCESSION PROPERTY, SELLER POSSESSES NO INFORMATION REGARDING THE PROPERTY. When entering the property, unlock only the top lock, as the bottom lock does not function. Push the door open after unlocking the top lock. COMBO LOCK 2121

20. 2026-05-01
    price $94,100 560-char remark

    Show marketing remark (560 chars)

    Excellent investment opportunity in a highly desirable neighborhood. Whether you're searching for a single-family home or looking to expand your investment portfolio, this property is a great choice. Don't miss the chance to seize this opportunity today and bring your vision to restore and improve this property. PROPERTY IS A SUCESSION PROPERTY, SELLER POSSESSES NO INFORMATION REGARDING THE PROPERTY. When entering the property, unlock only the top lock, as the bottom lock does not function. Push the door open after unlocking the top lock. COMBO LOCK 2121

21. 2026-03-11
    listed $96,900 Active 560-char remark

    Show marketing remark (560 chars)

    Excellent investment opportunity in a highly desirable neighborhood. Whether you're searching for a single-family home or looking to expand your investment portfolio, this property is a great choice. Don't miss the chance to seize this opportunity today and bring your vision to restore and improve this property. PROPERTY IS A SUCESSION PROPERTY, SELLER POSSESSES NO INFORMATION REGARDING THE PROPERTY. When entering the property, unlock only the top lock, as the bottom lock does not function. Push the door open after unlocking the top lock. COMBO LOCK 2121

22. 2026-03-11
    listed $96,900 Active 560-char remark

    Show marketing remark (560 chars)

    Excellent investment opportunity in a highly desirable neighborhood. Whether you're searching for a single-family home or looking to expand your investment portfolio, this property is a great choice. Don't miss the chance to seize this opportunity today and bring your vision to restore and improve this property. PROPERTY IS A SUCESSION PROPERTY, SELLER POSSESSES NO INFORMATION REGARDING THE PROPERTY. When entering the property, unlock only the top lock, as the bottom lock does not function. Push the door open after unlocking the top lock. COMBO LOCK 2121

ⓘ 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: $442 · $37/mo
• Projected year-2 tax: $500 · $42/mo
• Expected delta: +$58/yr (+$5/mo · 13.2%)

ⓘ 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: $19,304
• − Mortgage interest: −$5,097
• − Property taxes: −$442
• − Insurance: −$1,252
• − Repairs & maintenance: −$1,544
• − Management: −$1,544
• − Depreciation: −$2,647
• Taxable income: $6,776
• Est. tax owed @ 24.0%: −$1,626
• After-tax cash flow: $6,202/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

-6.1% since first listed

8 events — show timeline

• 2026-05-19 Price Changed $91,000 AcadianaMLS
• 2026-05-19 Price Changed $91,000 GSREIN
• 2026-05-07 Price Changed $92,500 AcadianaMLS
• 2026-05-07 Price Changed $92,500 GSREIN
• 2026-05-01 Price Changed $94,100 AcadianaMLS
• 2026-05-01 Price Changed $94,100 GSREIN
• 2026-03-11 Listed $96,900 GSREIN
• 2026-03-11 Listed $96,900 AcadianaMLS

Property tax history

+28.9%/yr

Latest (2026): $442 · +0.0% YoY. Source: county tax records.