1608 S Lopez St · New Orleans, LA 70125

$132,000

3 bd · 1.0 ba · 1,377 sqft · SingleFamily public records · 69 Days on market

Built 1940 $96/sqft · 58% 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 +29.3/30.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• 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

Looking for an investment opportunity? This property could be the perfect fit! Featuring 2 bedrooms and 2 full baths, plus a versatile bonus room that can easily serve as a third bedroom, home office, or flex space. Interior washer and dryer hookups add convenience, while off-street parking provides added ease. Enjoy extra storage with a backyard shed and relax or entertain on the wood deck patio. Schedule your showing today!

Key facts

• Built 1940
• Listed 69 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $132k.

Deal economics

• At list price, monthly cash flow is $36 ($436/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $132k).
• Recommended offer: $124k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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; 217 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 37% 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 $913 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 69 days — a 6% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $11k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; flood insurance adds $427/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $124,080 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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 1940 — 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: 1.44% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.03%
• DSCR: 1.67
• GRM: 5.8

CMA / ARV

• ARV (median comp): $309,891
• List price: $132,000
• Delta: -57.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4420 Walmsley Ave	0.19mi	3/2.0	1,443 (+5%)	4mo	$341,000	$236	76
3712 Calhoun St	0.43mi	3/2.0	1,426 (+4%)	1mo	$325,000	$228	69
3616 State Street Dr	0.53mi	3/2.0	1,431 (+4%)	2mo	$430,000	$300	63
3920 Delachaise St	0.35mi	3/2.0	1,544 (+12%)	1mo	$90,000	$58	59
4927 S Johnson St	0.72mi	3/2.0	1,406 (+2%)	1mo	$345,000	$245	58
7822 Colapissa St	0.68mi	3/2.0	1,452 (+5%)	1mo	$245,000	$169	55
3039 College Ct	0.36mi	3/2.0	1,175 (-15%)	6mo	$196,500	$167	50
3314 Robert St	0.74mi	2/2.0 (-1)	1,326 (-4%)	4mo	$315,000	$238	47
3815 Delachaise St	0.42mi	2/2.0 (-1)	1,189 (-14%)	5mo	$209,000	$176	44
3016 Burdette St	0.65mi	3/2.0	1,538 (+12%)	6mo	$280,000	$182	41
732 S Lopez St	0.72mi	4/2.0 (+1)	1,499 (+9%)	6mo	$220,500	$147	38
6511 S Claiborne Ave	0.72mi	2/2.0 (-1)	1,545 (+12%)	2mo	$375,000	$243	35

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: -18.2%
• Equity multiple: 0.38×
• Total profit: $-22,946
• Equity at exit: $19,682

10-year hold

• IRR: -19.3%
• Equity multiple: 0.13×
• Total profit: $-32,130
• Equity at exit: $11,413

Cash invested: $36,960 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,898 high
• Mortgage (P&I): −$692
• Tax from tax record: −$290 /mo · $3,475/yr
• Insurance: −$55
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $36

Break-even live

Break-even rent $1,852

Max offer price $132,000

Occupancy floor 93%

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: $33,000
• Closing costs: $3,960
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1603 S Rendon St New Orleans, LA	3.0	2.0	1329	$1,900	$1.43	20d	1	0.09mi
4401 Elba St New Orleans, LA	3.0	2.0	1400	$1,850	$1.32	23d	1	0.09mi
4403 Elba St New Orleans, LA	3.0	2.0	1400	$1,800	$1.29	3d	1	0.10mi
4400 Elba St New Orleans, LA	3.0	2.0	1600	$1,875	$1.17	23d	1	0.12mi
4430 Elba St New Orleans, LA	2.0	1.0	950	$1,495	$1.57	23d	1	0.12mi
4506 Elba St New Orleans, LA	2.0	1.0	1200	$1,800	$1.50	3d	1	0.15mi
4520 Elba St New Orleans, LA	3.0	2.0	1100	$1,700	$1.55	23d	1	0.16mi
4121 Elba St Unit B New Orleans, LA	2.0	1.0	1100	$1,800	$1.64	23d	1	0.17mi
1318 S Salcedo St Unit 101 New Orleans, LA	4.0	2.0	1152	$1,775	$1.54	17d	1	0.17mi
1318 S Salcedo St Unit 202 New Orleans, LA	4.0	2.0	1152	$1,975	$1.71	23d	1	0.17mi
1222 S Salcedo St Unit 101 New Orleans, LA	2.0	1.0	900	$1,574	$1.75	23d	1	0.22mi
2016 S Rendon St New Orleans, LA	2.0	1.5	1224	$1,600	$1.31	11d	1	0.28mi
4816 Thalia St New Orleans, LA	3.0	2.0	1218	$1,850	$1.52	23d	1	0.30mi
4814 Thalia St Unit B New Orleans, LA	3.0	2.0	1218	$1,850	$1.52	23d	1	0.30mi
4650 Washington Ave New Orleans, LA	1.0–2.0	1.0–2.0	866	$2,185	$2.52	2d	17	0.31mi
2102 S Lopez St New Orleans, LA	2.0	1.0	900	$1,500	$1.67	14d	1	0.32mi
4117 State Street Dr New Orleans, LA	3.0	1.0	1678	$1,550	$0.92	11d	1	0.33mi
4115 State Street Dr New Orleans, LA	2.0	1.0	1000	$1,900	$1.90	20d	1	0.34mi
2123 S Lopez St New Orleans, LA	2.0	1.0	950	$1,300	$1.37	3d	1	0.34mi
1228 S Genois St New Orleans, LA	3.0	1.0	1000	$1,150	$1.15	23d	1	0.35mi
1210 S Genois St New Orleans, LA	3.0	1.0	1000	$1,595	$1.59	23d	1	0.37mi
3821 Vincennes Pl New Orleans, LA	2.0	1.0	950	$1,500	$1.58	23d	1	0.39mi
3829 General Taylor St New Orleans, LA	3.0	1.0	1000	$1,300	$1.30	23d	1	0.40mi
2212 S Salcedo St New Orleans, LA	2.0	1.0	1000	$1,975	$1.98	3d	1	0.40mi
7021 Pritchard Pl New Orleans, LA	2.0	1.0	1100	$1,950	$1.77	16d	1	0.43mi
2921 Audubon St New Orleans, LA	2.0	1.0	1500	$1,550	$1.03	17d	1	0.44mi
4324 Cadiz St New Orleans, LA	2.0	1.5	1325	$2,000	$1.51	14d	1	0.45mi
4702 Euphrosine St New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	3d	1	0.45mi
3708 Nashville Ave New Orleans, LA	2.0	1.0	1100	$1,800	$1.64	17d	1	0.46mi
3713 Louisiana Avenue Pkwy New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	3d	1	0.50mi
2741 Audubon St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	3d	1	0.51mi
3636 Upperline St New Orleans, LA	3.0	1.0	1600	$1,975	$1.23	23d	1	0.51mi
4427 S Tonti St New Orleans, LA	2.0	1.0	1100	$1,550	$1.41	23d	1	0.51mi
2933 Pine St Unit 2937 New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	23d	1	0.54mi
2833 Pine St Unit 2833 New Orleans, LA	3.0	2.0	1219	$3,200	$2.63	19d	1	0.56mi
2835 Pine St Unit 2835 New Orleans, LA	3.0	2.0	1219	$2,995	$2.46	43d	1	0.56mi
3617 Fourth St Unit A New Orleans, LA	3.0	2.0	1225	$1,995	$1.63	17d	1	0.57mi
3514 S Miro St New Orleans, LA	3.0	2.0	1230	$1,950	$1.59	17d	1	0.59mi
4603 S Miro St New Orleans, LA	3.0	2.0	1650	$1,650	$1.00	23d	1	0.59mi
2525 Broadway St New Orleans, LA	2.0	1.0	1380	$2,200	$1.59	23d	1	0.59mi

Listing history 21 events

1. 2026-06-18
   days on market $132,000 Active 69 DOM
2. 2026-06-17
   days on market $132,000 Active 68 DOM
3. 2026-06-16
   days on market $132,000 Active 67 DOM
4. 2026-06-15
   days on market $132,000 Active 66 DOM
5. 2026-06-13
   days on market $132,000 Active 64 DOM
6. 2026-06-10
   days on market $132,000 Active 61 DOM
7. 2026-06-09
   days on market $132,000 Active 60 DOM
8. 2026-06-08
   days on market $132,000 Active 59 DOM
9. 2026-06-07
   days on market $132,000 Active 58 DOM
10. 2026-06-05
    days on market $132,000 Active 55 DOM
11. 2026-06-03
    days on market $132,000 Active 54 DOM
12. 2026-06-02
    days on market $132,000 Active 53 DOM
13. 2026-06-01
    days on market $132,000 Active 52 DOM
14. 2026-05-31
    days on market $132,000 Active 51 DOM
15. 2026-04-14
    price $132,000 429-char remark

    Show marketing remark (429 chars)

    Looking for an investment opportunity? This property could be the perfect fit! Featuring 2 bedrooms and 2 full baths, plus a versatile bonus room that can easily serve as a third bedroom, home office, or flex space. Interior washer and dryer hookups add convenience, while off-street parking provides added ease. Enjoy extra storage with a backyard shed and relax or entertain on the wood deck patio. Schedule your showing today!

16. 2026-04-14
    price $132,000 429-char remark

    Show marketing remark (429 chars)

    Looking for an investment opportunity? This property could be the perfect fit! Featuring 2 bedrooms and 2 full baths, plus a versatile bonus room that can easily serve as a third bedroom, home office, or flex space. Interior washer and dryer hookups add convenience, while off-street parking provides added ease. Enjoy extra storage with a backyard shed and relax or entertain on the wood deck patio. Schedule your showing today!

17. 2026-04-09
    listed $143,000 Active 429-char remark

    Show marketing remark (429 chars)

    Looking for an investment opportunity? This property could be the perfect fit! Featuring 2 bedrooms and 2 full baths, plus a versatile bonus room that can easily serve as a third bedroom, home office, or flex space. Interior washer and dryer hookups add convenience, while off-street parking provides added ease. Enjoy extra storage with a backyard shed and relax or entertain on the wood deck patio. Schedule your showing today!

18. 2026-04-09
    listed $143,000 Active 429-char remark

    Show marketing remark (429 chars)

    Looking for an investment opportunity? This property could be the perfect fit! Featuring 2 bedrooms and 2 full baths, plus a versatile bonus room that can easily serve as a third bedroom, home office, or flex space. Interior washer and dryer hookups add convenience, while off-street parking provides added ease. Enjoy extra storage with a backyard shed and relax or entertain on the wood deck patio. Schedule your showing today!

19. 2007-09-07
    soldstatus $217,500
20. 2007-08-21
    soldstatus $165,000
21. 1984-11-28
    soldstatus $50,000

ⓘ 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: $3,475 · $290/mo
• Projected year-2 tax: $3,475 · $290/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 AE · 77% 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: $22,780
• − Mortgage interest: −$7,394
• − Property taxes: −$3,475
• − Insurance: −$5,778
• − Repairs & maintenance: −$1,822
• − Management: −$1,822
• − Depreciation: −$3,840
• Taxable loss: −$1,352
• Est. tax savings @ 24.0%: +$324
• After-tax cash flow: $761/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

+164.0% since first listed

7 events — show timeline

• 2026-04-14 Price Changed $132,000 AcadianaMLS
• 2026-04-14 Price Changed $132,000 GSREIN
• 2026-04-09 Listed $143,000 GSREIN
• 2026-04-09 Listed $143,000 AcadianaMLS
• 2007-09-07 Sold (Public Records) $217,500 Public Records
• 2007-08-21 Sold (Public Records) $165,000 Public Records
• 1984-11-28 Sold (Public Records) $50,000 Public Records

Property tax history

+8.2%/yr

Latest (2026): $3,475 · +41.3% YoY. Source: county tax records.