1817 Shirley Dr · New Orleans, LA 70114

$120,000

3 bd · 2.0 ba · 1,431 sqft · SingleFamily public records · 36 Days on market

Built 1959 7,701 sqft lot $84/sqft · 9% below area Est $132k · 9% under ↓ 4% 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 +11.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Investors! Seize a prime opportunity just minutes from the bustling CBD--an exceptional addition to your portfolio waiting to be transformed. Let your vision shine and unlock its full potential. Please note, this property is not available for FHA financing. *****WASHER AND DRYER ARE NOT PART OF THE SALE***** BUYERS AND BUYER'S AGENT TO VERIFY MEASUREMENT, MEASUREMENT IS APPROXIMATE NOT GUARANTEED

Key facts

• 7,701 sq ft lot
• Parking
• Built 1959

Property features AI

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Public water; Public sewer
• Home design: One-story brick property; Shingle roof
• Construction: Brick construction
• Exterior features: City lot; Rectangular lot; Lot dimensions approximately 3.55 x 140

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Has cooling
• Interior features: Total of 4 rooms; Average condition

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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 (-0.7%/yr); 265 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); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $1,803/mo this rent would consume 50% of the median local household income ($43k/yr) (locally 2240% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 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 36 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1959 — 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 $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — 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. 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: 1.50% ✓
• Cap rate: 12.25%
• Cash-on-cash: 21.26%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (median comp): $131,861
• List price: $120,000
• Delta: -9.00%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1761 Pace Blvd	0.33mi	3/2.0	1,390 (-3%)	3mo	$166,300	$120	77
2420 Lauradale Dr	0.06mi	4/2.0 (+1)	1,379 (-4%)	12mo	$200,000	$145	76
2020 Lauradale Dr	0.17mi	3/2.0	1,369 (-4%)	16mo	$126,350	$92	71
1721 Pace Blvd	0.37mi	3/1.0	1,383 (-3%)	3mo	$70,000	$51	71
2110 Mardi Gras Blvd	0.33mi	3/2.0	1,568 (+10%)	2mo	$260,500	$166	67
1509 Shirley Dr	0.45mi	2/1.5 (-1)	1,482 (+4%)	2mo	$45,000	$30	64
1513 Shirley Dr	0.44mi	3/1.0	1,341 (-6%)	2mo	$185,000	$138	63
1623 Shirley Dr	0.30mi	2/2.0 (-1)	1,275 (-11%)	8mo	$70,000	$55	56
1510 Behrman Ave	0.61mi	3/2.0	1,350 (-6%)	13mo	$155,000	$115	51
1208 Shirley Dr	0.73mi	4/2.0 (+1)	1,415 (-1%)	14mo	$199,000	$141	48
1327 Shirley Dr	0.65mi	3/2.0	1,274 (-11%)	6mo	$70,000	$55	46
1518 Elizardi Blvd	0.63mi	2/1.0 (-1)	1,270 (-11%)	3mo	$56,000	$44	40

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: -11.7%
• Equity multiple: 0.59×
• Total profit: $-13,693
• Equity at exit: $17,892

10-year hold

• IRR: -10.6%
• Equity multiple: 0.48×
• Total profit: $-17,332
• Equity at exit: $10,375

Cash invested: $33,600 (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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,803 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $169

Break-even live

Break-even rent $1,590

Max offer price $120,000

Occupancy floor 86%

Sensitivity live

Price	-10% $252	-5% $210	+0% $169	+5% $127	+10% $86
Rent	-10% $26	-5% $98	+0% $169	+5% $240	+10% $311
Rate	-1.0pp $229	-0.5pp $199	base $169	+0.5pp $138	+1.0pp $106

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2320 Mardi Gras Blvd New Orleans, LA	4.0	2.5	1600	$2,500	$1.56	2d	1	0.14mi
1945 Pace Blvd Apt 101 New Orleans, LA	2.0	1.0	1000	$1,250	$1.25	11d	1	0.33mi
1945 Pace Blvd Unit 104 New Orleans, LA	2.0	1.0	1000	$1,250	$1.25	24d	1	0.33mi
2002 Pace Blvd Unit 103 New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	15d	1	0.35mi
1684 Lauradale Dr New Orleans, LA	4.0	2.0	1571	$2,000	$1.27	24d	1	0.39mi
1774 Pace Blvd New Orleans, LA	4.0	2.5	1574	$2,000	$1.27	24d	1	0.40mi
1719 Pace Blvd New Orleans, LA	3.0	1.0	1178	$2,000	$1.70	12d	1	0.42mi
1625 Lauradale Dr New Orleans, LA	3.0	2.0	1029	$1,700	$1.65	4d	1	0.47mi
3000 Americus St New Orleans, LA	3.0	2.0	1280	$1,400	$1.09	24d	1	0.57mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	3d	1	0.64mi
1510 Sumner St New Orleans, LA	2.0	1.0	950	$1,474	$1.55	17d	1	0.66mi
1418 Behrman Ave New Orleans, LA	2.0	1.0	876	$1,400	$1.60	17d	1	0.68mi
1402 Behrman Ave New Orleans, LA	2.0	1.0	1673	$1,500	$0.90	24d	1	0.70mi
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	17d	1	0.71mi
1565 Murl St Unit B New Orleans, LA	2.0	2.0	1100	$1,100	$1.00	24d	1	0.73mi
3102 Lawrence St New Orleans, LA	2.0	1.0	950	$1,500	$1.58	24d	1	0.79mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	44d	1	0.82mi
1108 Sumner St New Orleans, LA	3.0	1.5	1197	$1,500	$1.25	12d	1	0.91mi
735 Lees Ln Unit 2 New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	24d	1	0.94mi
1200 Southlawn Blvd New Orleans, LA	3.0	2.0	950	$1,725	$1.82	24d	1	1.01mi
3725 Macarthur Blvd Unit 2A New Orleans, LA	2.0	2.0	1200	$2,750	$2.29	20d	1	1.01mi
1313 Flanders St New Orleans, LA	2.0	1.0	900	$1,295	$1.44	21d	1	1.03mi
1227 Flanders St New Orleans, LA	2.0	1.0	900	$1,000	$1.11	24d	1	1.07mi
718 Majestic Pl New Orleans, LA	3.0	2.0	1164	$1,785	$1.53	22d	1	1.08mi
300 Terry Pkwy Unit C Terrytown, LA	3.0	2.5	1532	$1,800	$1.17	24d	1	1.10mi
913 Milton St Gretna, LA	3.0	1.0	1061	$2,800	$2.64	44d	1	1.10mi
1318 Monroe St Gretna, LA	2.0	1.0	1200	$1,595	$1.33	4d	1	1.13mi
1320 Monroe St Gretna, LA	2.0	2.0	1030	$2,000	$1.94	24d	1	1.13mi
1225 Truxton St Unit 21 Gretna, LA	2.0	2.0	1000	$1,075	$1.07	24d	1	1.15mi
513 Park Blvd New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	4d	1	1.17mi
1014 Van Trump St Gretna, LA	2.0	2.0	932	$1,750	$1.88	22d	1	1.18mi
241 Helen St Unit 4D Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	44d	1	1.18mi
241 Helen St Unit 3c Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	22d	1	1.18mi
810 Whitney Ave New Orleans, LA	2.0	1.0	900	$1,250	$1.39	12d	1	1.18mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	4d	1	1.19mi
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	4d	1	1.20mi
2123 Browning Ln Terrytown, LA	3.0	1.5	1073	$1,650	$1.54	3d	1	1.21mi
517 Burmaster St Gretna, LA	2.0	1.0	900	$1,600	$1.78	44d	1	1.22mi
310 Coral Ave Gretna, LA	3.0	1.5	1216	$1,750	$1.44	24d	1	1.23mi
400 Park Blvd Unit A New Orleans, LA	4.0	1.5	1275	$2,200	$1.73	24d	1	1.28mi

Listing history 17 events

1. 2026-06-18
   days on market $120,000 Active 36 DOM
2. 2026-06-17
   days on market $120,000 Active 35 DOM
3. 2026-06-16
   days on market $120,000 Active 34 DOM
4. 2026-06-15
   days on market $120,000 Active 33 DOM
5. 2026-06-13
   pricedays on market $120,000 Active 31 DOM
6. 2026-06-10
   days on market $130,000 Active 28 DOM

   Show marketing remark (409 chars)

   Attention Investors! Seize a prime opportunity just minutes from the bustling CBD--an exceptional addition to your portfolio waiting to be transformed. Let your vision shine and unlock its full potential. Please note, this property is not available for FHA financing. *****WASHER AND DRYER ARE NOT PART OF THE SALE***** BUYERS AND BUYER'S AGENT TO VERIFY MEASUREMENT, MEASUREMENT IS APPROXIMATE NOT GUARANTEED

7. 2026-06-09
   days on market $130,000 Active 27 DOM
8. 2026-06-08
   days on market $130,000 Active 26 DOM
9. 2026-06-07
   days on market $130,000 Active 25 DOM
10. 2026-06-05
    days on market $130,000 Active 22 DOM
11. 2026-06-03
    days on market $130,000 Active 21 DOM
12. 2026-06-02
    days on market $130,000 Active 20 DOM
13. 2026-06-01
    days on market $130,000 Active 19 DOM
14. 2026-05-31
    days on market $130,000 Active 18 DOM
15. 2026-05-13
    listed $130,000 Active 433-char remark

    Show marketing remark (409 chars)

    Attention Investors! Seize a prime opportunity just minutes from the bustling CBD--an exceptional addition to your portfolio waiting to be transformed. Let your vision shine and unlock its full potential. Please note, this property is not available for FHA financing. *****WASHER AND DRYER ARE NOT PART OF THE SALE***** BUYERS AND BUYER'S AGENT TO VERIFY MEASUREMENT, MEASUREMENT IS APPROXIMATE NOT GUARANTEED

16. 2026-05-13
    listed $130,000 Active 409-char remark

    Show marketing remark (409 chars)

    Attention Investors! Seize a prime opportunity just minutes from the bustling CBD--an exceptional addition to your portfolio waiting to be transformed. Let your vision shine and unlock its full potential. Please note, this property is not available for FHA financing. *****WASHER AND DRYER ARE NOT PART OF THE SALE***** BUYERS AND BUYER'S AGENT TO VERIFY MEASUREMENT, MEASUREMENT IS APPROXIMATE NOT GUARANTEED

17. 2006-05-05
    soldstatus $125,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,639
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$5,718
• − Repairs & maintenance: −$1,731
• − Management: −$1,731
• − Depreciation: −$3,491
• Taxable income: $446
• Est. tax owed @ 24.0%: −$107
• After-tax cash flow: $1,918/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): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

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: Predominantly Black (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

-4.0% since first listed

5 events — show timeline

• 2026-06-10 Price Changed $120,000 AcadianaMLS
• 2026-06-10 Price Changed $120,000 GSREIN
• 2026-05-13 Listed $130,000 GSREIN
• 2026-05-13 Listed $130,000 AcadianaMLS
• 2006-05-05 Sold (Public Records) $125,000 Public Records

Property tax history

-8.0%/yr

Latest (2026): $213 · -17.8% YoY. Source: county tax records.