3205 Luna St · New Orleans, LA 70114

$128,000

4 bd · 2.0 ba · 1,385 sqft · SingleFamily public records · 95 Days on market

Built 1990 4,103 sqft lot $92/sqft · 16% below area Est $154k · 17% under

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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
• 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

Calling all Investors, Cash flowing Rental Available Now!

Key facts

• 4,103 sq ft lot
• 3 parking spots
• Built 1990

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $662 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $116k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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; 33 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $1,984/mo this rent would consume 55% 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 $885 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 16y ago; this cycle's ask is 7452% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $45k; list at $128k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,480 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 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: 1.55% ✓
• Cap rate: 13.12%
• Cash-on-cash: 24.38%
• DSCR: 2.08
• GRM: 5.4

CMA / ARV

• ARV (median comp): $153,990
• List price: $128,000
• Delta: -16.88%
• 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
1100 Southlawn Blvd	0.17mi	3/2.0 (-1)	1,300 (-6%)	1mo	$183,000	$141	76
1236 Southlawn Blvd	0.25mi	3/2.0 (-1)	1,450 (+5%)	2mo	$145,000	$100	74
1121 Southlawn Blvd	0.19mi	3/2.0 (-1)	1,288 (-7%)	1mo	$145,000	$113	74
3626 De Armas St	0.30mi	4/2.0	1,360 (-2%)	15mo	$147,500	$108	71
1357 Terry St	0.38mi	4/2.0	1,312 (-5%)	19mo	$165,000	$126	58
1640 Flanders St	0.53mi	4/2.0	1,316 (-5%)	12mo	$180,000	$137	57
1208 Shirley Dr	0.60mi	4/2.0	1,415 (+2%)	14mo	$199,000	$141	57
1408 General Collins Ave	0.60mi	3/2.0 (-1)	1,277 (-8%)	5mo	$152,000	$119	50
1240 Merrill St	0.29mi	3/1.0 (-1)	1,192 (-14%)	9mo	$150,000	$126	47
1327 Shirley Dr	0.67mi	3/2.0 (-1)	1,274 (-8%)	6mo	$70,000	$55	46
1056 Farragut St	0.71mi	3/1.0 (-1)	1,279 (-8%)	1mo	$85,000	$66	44
1700 Richland Rd	0.69mi	4/2.0	1,554 (+12%)	16mo	$175,000	$113	34

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: 11.4%
• Equity multiple: 1.44×
• Total profit: $15,627
• Equity at exit: $19,085

10-year hold

• IRR: 17.9%
• Equity multiple: 2.27×
• Total profit: $45,573
• Equity at exit: $11,067

Cash invested: $35,840 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,984 high
• Mortgage (P&I): −$671
• Tax from tax record: −$115 /mo · $1,378/yr
• Insurance: −$53
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $662

Break-even live

Break-even rent $1,147

Max offer price $128,000

Occupancy floor 62%

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: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1200 Southlawn Blvd New Orleans, LA	3.0	2.0	950	$1,725	$1.82	24d	1	0.19mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	2d	1	0.54mi
3000 Americus St New Orleans, LA	3.0	2.0	1280	$1,400	$1.09	24d	1	0.66mi
3441 Catalina Dr New Orleans, LA	5.0	2.0	1610	$2,450	$1.52	12d	1	0.69mi
1719 Pace Blvd New Orleans, LA	3.0	1.0	1178	$2,000	$1.70	12d	1	0.76mi
1774 Pace Blvd New Orleans, LA	4.0	2.5	1574	$2,000	$1.27	24d	1	0.81mi
1625 Lauradale Dr New Orleans, LA	3.0	2.0	1029	$1,700	$1.65	3d	1	0.82mi
1684 Lauradale Dr New Orleans, LA	4.0	2.0	1571	$2,000	$1.27	24d	1	0.86mi
617 Forstall St New Orleans, LA	3.0	2.0	1262	$2,200	$1.74	3d	1	0.88mi
619 Reynes St New Orleans, LA	3.0	2.0	1318	$2,100	$1.59	16d	1	0.90mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	3d	1	0.92mi
2002 Pace Blvd Unit 103 New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	15d	1	0.94mi
1108 Sumner St New Orleans, LA	3.0	1.5	1197	$1,500	$1.25	12d	1	0.94mi
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	16d	1	1.00mi
906 Flood St New Orleans, LA	3.0	3.0	1174	$1,700	$1.45	2d	1	1.03mi
438 Friscoville Ave Arabi, LA	3.0	2.0	1500	$3,200	$2.13	3d	1	1.09mi
6038 N Rampart St New Orleans, LA	3.0	2.0	1080	$1,795	$1.66	24d	1	1.11mi
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	3d	1	1.15mi
6900 Royal St Arabi, LA	3.0	2.0	1579	$5,888	$3.73	3d	1	1.15mi
2320 Mardi Gras Blvd New Orleans, LA	4.0	2.5	1600	$2,500	$1.56	2d	1	1.18mi
5459 Saint Claude Ave Unit 5461 New Orleans, LA	4.0	2.0	1454	$2,350	$1.62	24d	1	1.19mi
5461 Saint Claude Ave New Orleans, LA	4.0	2.0	1250	$2,350	$1.88	24d	1	1.20mi
1201 Gordon St New Orleans, LA	3.0	2.5	1367	$1,900	$1.39	17d	1	1.28mi
1812 River Oaks Dr New Orleans, LA	3.0	1.0	1148	$1,700	$1.48	3d	1	1.28mi
1812 River Oaks Dr New Orleans, LA	3.0	1.0	1148	$1,700	$1.48	3d	1	1.28mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	3d	1	1.33mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	3d	1	1.33mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1178	$1,600	$1.36	24d	1	1.33mi
1314 Lamanche St New Orleans, LA	4.0	1.0	1300	$2,100	$1.62	16d	1	1.35mi
1327 Fats Domino Ave Unit A New Orleans, LA	3.0	2.0	1200	$1,900	$1.58	3d	1	1.37mi
1327 Fats Domino Ave Unit B New Orleans, LA	4.0	2.0	1200	$2,200	$1.83	16d	1	1.37mi
1422 Andry St New Orleans, LA	3.0	2.0	1100	$1,400	$1.27	3d	1	1.43mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	24d	1	1.44mi

Listing history 50 events

1. 2026-06-18
   days on market $128,000 Active 95 DOM
2. 2026-06-17
   days on market $128,000 Active 94 DOM
3. 2026-06-16
   days on market $128,000 Active 93 DOM
4. 2026-06-15
   days on market $128,000 Active 92 DOM
5. 2026-06-13
   days on market $128,000 Active 90 DOM
6. 2026-06-10
   days on market $128,000 Active 87 DOM
7. 2026-06-09
   days on market $128,000 Active 86 DOM
8. 2026-06-08
   days on market $128,000 Active 85 DOM
9. 2026-06-07
   days on market $128,000 Active 84 DOM
10. 2026-06-05
    days on market $128,000 Active 81 DOM
11. 2026-06-03
    days on market $128,000 Active 80 DOM
12. 2026-06-02
    days on market $128,000 Active 79 DOM
13. 2026-06-01
    days on market $128,000 Active 78 DOM
14. 2026-05-31
    days on market $128,000 Active 77 DOM
15. 2026-05-15
    price $129,000 57-char remark

    Show marketing remark (57 chars)

    Calling all Investors, Cash flowing Rental Available Now!

16. 2026-05-15
    price $129,000 57-char remark

    Show marketing remark (57 chars)

    Calling all Investors, Cash flowing Rental Available Now!

17. 2026-04-17
    historical $1,695
18. 2026-04-14
    price $130,000 57-char remark

    Show marketing remark (57 chars)

    Calling all Investors, Cash flowing Rental Available Now!

19. 2026-04-14
    price $130,000 57-char remark

    Show marketing remark (57 chars)

    Calling all Investors, Cash flowing Rental Available Now!

20. 2026-03-21
    price $139,000 57-char remark

    Show marketing remark (57 chars)

    Calling all Investors, Cash flowing Rental Available Now!

21. 2026-03-21
    price $139,000 57-char remark

    Show marketing remark (57 chars)

    Calling all Investors, Cash flowing Rental Available Now!

22. 2026-03-16
    listed $1,695

    Show marketing remark (57 chars)

    Calling all Investors, Cash flowing Rental Available Now!

23. 2026-03-16
    price $149,000 57-char remark

    Show marketing remark (57 chars)

    Calling all Investors, Cash flowing Rental Available Now!

24. 2026-03-16
    price $129,000 57-char remark

    Show marketing remark (57 chars)

    Calling all Investors, Cash flowing Rental Available Now!

25. 2026-03-15
    listed $149,000 Active 57-char remark

    Show marketing remark (57 chars)

    Calling all Investors, Cash flowing Rental Available Now!

26. 2026-03-15
    listed $125,000 Active 57-char remark

    Show marketing remark (57 chars)

    Calling all Investors, Cash flowing Rental Available Now!

27. 2024-07-28
    price $139,000
28. 2024-07-13
    price $159,000
29. 2024-03-27
    historical $1,695
30. 2024-03-15
    listed $139,000
31. 2024-03-13
    listed $1,695
32. 2024-03-13
    historical $1,695
33. 2024-02-23
    listed $1,695
34. 2024-02-23
    historical
35. 2024-02-12
    listed
36. 2024-02-05
    historical
37. 2024-01-08
    listed
38. 2023-12-26
    historical
39. 2023-11-28
    listed
40. 2023-11-16
    historical
41. 2023-10-18
    listed
42. 2020-03-02
    price $139,000
43. 2020-02-29
    price $145,900
44. 2020-02-27
    price $147,900
45. 2020-02-24
    price $149,900
46. 2020-02-21
    price $153,900
47. 2020-02-16
    price $154,700
48. 2020-02-12
    price $154,800
49. 2020-02-10
    price $154,900
50. 2020-02-06
    price $155,900

ⓘ 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: $1,378 · $115/mo
• Projected year-2 tax: $1,378 · $115/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 7/10 Severe FEMA zone X · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 20 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: $23,811
• − Mortgage interest: −$7,170
• − Property taxes: −$1,378
• − Insurance: −$1,438
• − Repairs & maintenance: −$1,905
• − Management: −$1,905
• − Depreciation: −$3,724
• Taxable income: $6,292
• Est. tax owed @ 24.0%: −$1,510
• After-tax cash flow: $6,430/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

+296.9% since first listed

55 events — show timeline

• 2026-05-15 Price Changed $129,000 AcadianaMLS
• 2026-05-15 Price Changed $129,000 GSREIN
• 2026-04-17 Rental Removed $1,695 TURBOTENANT
• 2026-04-14 Price Changed $130,000 AcadianaMLS
• 2026-04-14 Price Changed $130,000 GSREIN
• 2026-03-21 Price Changed $139,000 AcadianaMLS
• 2026-03-21 Price Changed $139,000 GSREIN
• 2026-03-16 Listed for Rent $1,695 TURBOTENANT
• 2026-03-16 Price Changed $149,000 GSREIN
• 2026-03-16 Price Changed $129,000 GSREIN
• 2026-03-15 Listed $125,000 GSREIN
• 2026-03-15 Listed $149,000 AcadianaMLS
• 2024-07-28 Price Changed $139,000 GSREIN
• 2024-07-13 Price Changed $159,000 GSREIN
• 2024-03-27 Rental Removed $1,695 APPFOLIO
• 2024-03-15 Listed $139,000 AcadianaMLS
• 2024-03-13 Listed for Rent $1,695 APPFOLIO
• 2024-03-13 Rental Removed $1,695 BUILDIUM
• 2024-02-23 Listed for Rent $1,695 BUILDIUM
• 2024-02-23 Rental Removed — TURBOTENANT
• 2024-02-12 Listed for Rent — TURBOTENANT
• 2024-02-05 Rental Removed — TURBOTENANT
• 2024-01-08 Listed for Rent — TURBOTENANT
• 2023-12-26 Rental Removed — TURBOTENANT
• 2023-11-28 Listed for Rent — TURBOTENANT
• 2023-11-16 Rental Removed — TURBOTENANT
• 2023-10-18 Listed for Rent — TURBOTENANT
• 2020-03-02 Price Changed $139,000 GSREIN
• 2020-02-29 Price Changed $145,900 GSREIN
• 2020-02-27 Price Changed $147,900 GSREIN
• 2020-02-24 Price Changed $149,900 GSREIN
• 2020-02-21 Price Changed $153,900 GSREIN
• 2020-02-16 Price Changed $154,700 GSREIN
• 2020-02-12 Price Changed $154,800 GSREIN
• 2020-02-10 Price Changed $154,900 GSREIN
• 2020-02-06 Price Changed $155,900 GSREIN
• 2020-01-30 Price Changed $158,900 GSREIN
• 2020-01-25 Price Changed $159,000 GSREIN
• 2019-09-10 Price Changed $79,000 GSREIN
• 2019-08-30 Price Changed $82,000 GSREIN
• 2019-08-03 Price Changed $83,000 GSREIN
• 2019-07-22 Listed $139,000 AcadianaMLS
• 2016-05-31 Sold (MLS) $44,750 GSREIN
• 2016-05-18 Contingent — GSREIN
• 2016-05-06 Price Changed $49,750 GSREIN
• 2016-04-21 Price Changed $52,500 GSREIN
• 2015-08-18 Listed $64,900 GSREIN
• 2015-08-17 Listed $49,750 AcadianaMLS
• 2013-07-13 Listed $95,000 GSREIN
• 2013-07-13 Listed $95,000 AcadianaMLS
• 2011-02-07 Sold (Public Records) $26,000 Public Records
• 2011-01-27 Sold (MLS) $26,000 GSREIN
• 2010-11-22 Sold (Public Records) $31,667 Public Records
• 2010-11-22 Listed $32,500 GSREIN
• 2010-11-22 Listed $32,500 AcadianaMLS

Property tax history

+1.4%/yr

Latest (2026): $1,378 · +0.0% YoY. Source: county tax records.