13 Mars Pl · New Orleans, LA 70125

$179,000

3 bd · 2.0 ba · 946 sqft · SingleFamily public records · 66 Days on market

Built 1987 $189/sqft · 11% below area Est $201k · 11% 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 +18.5/30.0
• ARV discount +12.4/15.0
• DSCR +5.8/10.0
• 1% rule +4.1/10.0
• 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

Cozy single-family home in Gert Town, conveniently located by the interstate. When you step inside, you'll find a nice spacious bedroom with vinyl and/or laminate flooring throughout. The kitchen is nicely sized. Great for cooking and gathering with loved ones. It comes with two full baths and a generous backyard for weekend BBQs or for relaxing after a long day. It would make a great starter home and/or investment opportunity.

Key facts

• Nicely sized kitchen
• Spacious bedroom
• Generous backyard

Tags

• GENEROUS BACKYARD
• SPACIOUS BEDROOM
• NICELY SIZED KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $104 ($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 $162k (9.5% below list).
• Recommended offer: $162k (9.5% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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; 217 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).
• This rent runs 32% of the median local income ($61k/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 66 days — a 6% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 23y ago 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 $40k; list at $179k implies a 348% 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 $162,036 (9.5% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.91% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.09%
• DSCR: 1.18
• GRM: 9.2

CMA / ARV

• ARV (median comp): $201,071
• List price: $179,000
• Delta: -10.98%
• 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
2715 Fern St	0.34mi	2/1.0 (-1)	935 (-1%)	22mo	$340,000	$364	55
2816 Leonidas St	0.54mi	2/2.0 (-1)	958 (+1%)	18mo	$225,000	$235	53
8711 Olive St	0.56mi	3/2.0	1,022 (+8%)	11mo	$137,000	$134	52
4349 State Street Dr	0.41mi	3/1.0	1,001 (+6%)	24mo	$200,000	$200	48
2419 Short St	0.54mi	2/2.0 (-1)	1,077 (+14%)	2mo	$350,000	$325	45
7833 Belfast St	0.35mi	2/2.0 (-1)	1,080 (+14%)	12mo	$343,000	$318	45
4802 Dixon St	0.55mi	2/1.0 (-1)	1,034 (+9%)	8mo	$115,000	$111	43
8715 Stroelitz St	0.64mi	3/1.0	1,049 (+11%)	9mo	$62,000	$59	41
8908 Edinburgh St	0.70mi	3/1.0	1,080 (+14%)	20mo	$39,999	$37	23

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.48×
• Total profit: $-25,999
• Equity at exit: $26,689

10-year hold

• IRR: -10.3%
• Equity multiple: 0.43×
• Total profit: $-28,333
• Equity at exit: $15,477

Cash invested: $50,120 (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 70125

• Home prices YoY: -16.3%
• Rents YoY: 0.7%
• Active inventory: 217
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,620 high
• Mortgage (P&I): −$939
• Tax from tax record: −$96 /mo · $1,153/yr
• Insurance: −$75
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $104

Break-even live

Break-even rent $1,488

Max offer price $179,000

Occupancy floor 89%

Sensitivity live

Price	-10% $206	-5% $155	+0% $104	+5% $54	+10% $3
Rent	-10% $-24	-5% $40	+0% $104	+5% $168	+10% $232
Rate	-1.0pp $194	-0.5pp $150	base $104	+0.5pp $58	+1.0pp $11

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3205 Fern St New Orleans, LA	2.0	1.0	938	$1,200	$1.28	21d	1	0.05mi
3317 Short St New Orleans, LA	3.0	2.0	900	$1,600	$1.78	24d	1	0.08mi
7931 Olive St New Orleans, LA	2.0	1.0	660	$1,175	$1.78	21d	1	0.12mi
3318 Broadway St #2 New Orleans, LA	2.0	1.0	650	$1,325	$2.04	24d	1	0.23mi
3318 Broadway St Unit 303 New Orleans, LA	2.0	1.0	650	$1,325	$2.04	11d	1	0.23mi
2933 Pine St Unit 2937 New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	24d	1	0.27mi
8328 Forshey St New Orleans, LA	2.0	1.0	838	$1,200	$1.43	3d	1	0.29mi
7110 Colapissa St New Orleans, LA	2.0	1.0	750	$1,375	$1.83	17d	1	0.30mi
7110 Colapissa St New Orleans, LA	2.0	1.0	750	$1,400	$1.87	24d	1	0.30mi
3316 Joliet St #18 New Orleans, LA	2.0	1.0	800	$1,400	$1.75	24d	1	0.39mi
8514 Forshey St New Orleans, LA	3.0	1.0	1030	$1,600	$1.55	24d	1	0.41mi
7021 Pritchard Pl New Orleans, LA	2.0	1.0	1100	$1,950	$1.77	16d	1	0.41mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.42mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.42mi
1228 S Genois St New Orleans, LA	3.0	1.0	1000	$1,150	$1.15	24d	1	0.43mi
1210 S Genois St New Orleans, LA	3.0	1.0	1000	$1,595	$1.59	24d	1	0.44mi
8327 Belfast St New Orleans, LA	2.0	1.0	800	$1,150	$1.44	15d	1	0.44mi
8327 Belfast St heuristic New Orleans, LA	2.0	1.0	800	$1,150	$1.44	25d	1	0.44mi
2741 Audubon St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	3d	1	0.47mi
2616 Cambronne St New Orleans, LA	4.0	1.0	996	$1,350	$1.36	24d	1	0.50mi
4650 Washington Ave New Orleans, LA	1.0–2.0	1.0–2.0	866	$2,185	$2.52	3d	17	0.51mi
8205 Nelson St Unit A New Orleans, LA	2.0	1.0	600	$1,000	$1.67	15d	1	0.51mi
3909 Panama Ct Unit 1B New Orleans, LA	2.0	1.0	800	$1,200	$1.50	24d	1	0.51mi
8417 Apple St New Orleans, LA	2.0	1.0	828	$1,200	$1.45	17d	1	0.53mi
4702 Euphrosine St New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	3d	1	0.54mi
8429 Apple St Unit 1B New Orleans, LA	2.0	1.0	803	$1,400	$1.74	24d	1	0.54mi
8610 Apricot St New Orleans, LA	3.0	2.0	1000	$2,200	$2.20	11d	1	0.55mi
2730 Leonidas St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	24d	1	0.56mi
8709 Pritchard Pl New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	21d	1	0.56mi
4115 State Street Dr New Orleans, LA	2.0	1.0	1000	$1,900	$1.90	20d	1	0.57mi
2432 Broadway St Unit C New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	17d	1	0.58mi
8637 Belfast St New Orleans, LA	2.0	1.0	800	$1,195	$1.49	24d	1	0.61mi
2344 Audubon St New Orleans, LA	2.0	1.0	988	$1,600	$1.62	24d	1	0.65mi
4520 Elba St New Orleans, LA	3.0	2.0	1100	$1,700	$1.55	24d	1	0.66mi
2817 General Ogden St Unit 2819 New Orleans, LA	2.0	1.0	870	$1,200	$1.38	24d	1	0.67mi
8925 Colapissa St New Orleans, LA	2.0	1.0	700	$1,500	$2.14	21d	1	0.68mi
8633 Nelson St New Orleans, LA	2.0	1.0	800	$1,100	$1.38	2d	1	0.68mi
4430 Elba St New Orleans, LA	2.0	1.0	950	$1,495	$1.57	24d	1	0.71mi
3821 Vincennes Pl New Orleans, LA	2.0	1.0	950	$1,500	$1.58	24d	1	0.71mi
2311 Joliet St New Orleans, LA	2.0	2.0	950	$1,900	$2.00	24d	1	0.72mi

Listing history 31 events

1. 2026-06-18
   days on market $179,000 Active 66 DOM
2. 2026-06-17
   days on market $179,000 Active 65 DOM
3. 2026-06-16
   days on market $179,000 Active 64 DOM
4. 2026-06-15
   days on market $179,000 Active 63 DOM
5. 2026-06-13
   days on market $179,000 Active 61 DOM
6. 2026-06-10
   days on market $179,000 Active 58 DOM
7. 2026-06-09
   days on market $179,000 Active 57 DOM
8. 2026-06-08
   days on market $179,000 Active 56 DOM
9. 2026-06-07
   days on market $179,000 Active 55 DOM
10. 2026-06-05
    days on market $179,000 Active 52 DOM
11. 2026-06-03
    days on market $179,000 Active 51 DOM
12. 2026-06-02
    days on market $179,000 Active 50 DOM
13. 2026-06-01
    days on market $179,000 Active 49 DOM
14. 2026-05-31
    days on market $179,000 Active 48 DOM
15. 2026-04-13
    listed $179,000 Active 431-char remark

    Show marketing remark (437 chars)

    Cozy single-family home in Gert Town, conveniently located by the interstate. When you step inside, you’ll find a nice spacious bedroom with vinyl and/or laminate flooring throughout. The kitchen is nicely sized. Great for cooking and gathering with loved ones. It comes with two full baths and a generous backyard for weekend BBQs or for relaxing after a long day. It would make a great starter home and/or investment opportunity.

16. 2026-04-13
    listed $179,000 Active 437-char remark

    Show marketing remark (437 chars)

    Cozy single-family home in Gert Town, conveniently located by the interstate. When you step inside, you’ll find a nice spacious bedroom with vinyl and/or laminate flooring throughout. The kitchen is nicely sized. Great for cooking and gathering with loved ones. It comes with two full baths and a generous backyard for weekend BBQs or for relaxing after a long day. It would make a great starter home and/or investment opportunity.

17. 2025-09-03
    price $189,000
18. 2025-09-03
    price $189,000
19. 2025-05-08
    price $210,000
20. 2025-05-08
    price $210,000
21. 2025-04-23
    listed $189,000 Active
22. 2025-04-14
    listed $220,000 Active
23. 2014-10-17
    soldstatus $40,000
24. 2014-05-28
    listed $44,900
25. 2014-05-28
    listed $44,900
26. 2013-11-06
    listed $60,000
27. 2013-11-06
    listed $60,000
28. 2004-01-22
    soldstatus $72,900
29. 2003-10-10
    listed $72,900
30. 2003-10-10
    listed $72,900
31. 1987-01-14
    soldstatus $61,600

ⓘ 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: $1,153 · $96/mo
• Projected year-2 tax: $1,153 · $96/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: $19,444
• − Mortgage interest: −$10,027
• − Property taxes: −$1,153
• − Insurance: −$1,692
• − Repairs & maintenance: −$1,556
• − Management: −$1,556
• − Depreciation: −$5,207
• Taxable loss: −$1,747
• Est. tax savings @ 24.0%: +$419
• After-tax cash flow: $1,670/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): 17,821
• Household income: $61,174
• Rent vs Own: 53.3% rent · 46.7% own
• Severe rent burden: 1270.0

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 0.63)
• Race & ethnicity: Black 51% White 32% Hispanic / Latino 9% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Romanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 1% Chinese 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: ▼ -49.68%
• Current HPI: 255.5998
• Rent YoY: ▲ 0.73%
• 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

+190.6% since first listed

17 events — show timeline

• 2026-04-13 Listed $179,000 GSREIN
• 2026-04-13 Listed $179,000 AcadianaMLS
• 2025-09-03 Price Changed $189,000 AcadianaMLS
• 2025-09-03 Price Changed $189,000 GSREIN
• 2025-05-08 Price Changed $210,000 AcadianaMLS
• 2025-05-08 Price Changed $210,000 GSREIN
• 2025-04-23 Listed $189,000 AcadianaMLS
• 2025-04-14 Listed $220,000 AcadianaMLS
• 2014-10-17 Sold (MLS) $40,000 GSREIN
• 2014-05-28 Listed $44,900 AcadianaMLS
• 2014-05-28 Listed $44,900 GSREIN
• 2013-11-06 Listed $60,000 GSREIN
• 2013-11-06 Listed $60,000 AcadianaMLS
• 2004-01-22 Sold (MLS) $72,900 GSREIN
• 2003-10-10 Listed $72,900 AcadianaMLS
• 2003-10-10 Listed $72,900 GSREIN
• 1987-01-14 Sold (Public Records) $61,600 Public Records

Property tax history

+0.3%/yr

Latest (2026): $1,153 · -0.4% YoY. Source: county tax records.