6315 Bienvenue St · New Orleans, LA 70117

$112,500

2 bd · 2.0 ba · 974 sqft · SingleFamily public records · 29 Days on market

Built 1955 3,598 sqft lot $116/sqft · 55% below area Est $225k · 50% 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 +28.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +7.4/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOCATION, LOCATION, LOCATION! This charming 2-bed, 1-bath Cottage is situated in the desirable Holy Cross Neighborhood, just one block from the Mississippi River and adjacent to Jackson Barracks. With fantastic access to the historic French Quarter, this property offers an incredible opportunity. While it needs some renovation and TLC, this is the perfect canvas for a buyer or investor ready to customize and unlock its full potential in a highly sought-after area. The 870 lvgsqft home features a raised foundation and fenced, off-street parking.

Key facts

• Mississippi river
• Jackson barracks
• Raised foundation

Tags

• HOLY CROSS NEIGHBORHOOD
• MISSISSIPPI RIVER
• JACKSON BARRACKS
• HISTORIC FRENCH QUARTER
• RAISED FOUNDATION
• FENCED OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $111k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 rising (+2.5%/yr); 581 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 ($46k/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 $778 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.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 6 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 $29k; list at $112k implies a 288% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $110,812 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.24% ✓
• Cap rate: 10.03%
• Cash-on-cash: 13.33%
• DSCR: 1.59
• GRM: 6.7

CMA / ARV

• ARV (median comp): $224,637
• List price: $112,500
• Delta: -49.92%
• 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
430 Lebeau St	0.49mi	2/2.0	996 (+2%)	4mo	$228,000	$229	70
6039 Dauphine St	0.31mi	2/1.5	1,024 (+5%)	23mo	$177,000	$173	56
521 Center St	0.65mi	2/2.0	993 (+2%)	19mo	$210,100	$212	50
5721 Burgundy St	0.46mi	2/2.0	1,051 (+8%)	22mo	$225,000	$214	47
1048 Lebeau St	0.65mi	2/2.0	1,020 (+5%)	21mo	$135,000	$132	44
622 Lizardi St	0.72mi	3/1.0 (+1)	926 (-5%)	9mo	$140,000	$151	41
405 Center St	0.62mi	3/1.5 (+1)	1,019 (+5%)	18mo	$160,000	$157	41
1325 Angela Ave	0.67mi	2/1.0	855 (-12%)	5mo	$155,000	$181	40
1426 Tupelo St	0.74mi	3/2.0 (+1)	1,104 (+13%)	4mo	$100,000	$91	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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.97×
• Total profit: $-839
• Equity at exit: $16,774

10-year hold

• IRR: 8.4%
• Equity multiple: 1.63×
• Total profit: $19,817
• Equity at exit: $9,727

Cash invested: $31,500 (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 70117

• Rents YoY: 2.5%
• Active inventory: 581
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,395 high
• Mortgage (P&I): −$590
• Tax from tax record: −$116 /mo · $1,387/yr
• Insurance: −$47
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $284

Break-even live

Break-even rent $1,037

Max offer price $112,500

Occupancy floor 75%

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: $28,125
• Closing costs: $3,375
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
716 Delery St Unit 716 New Orleans, LA	2.0	1.0	900	$1,200	$1.33	23d	1	0.20mi
637 Tupelo St New Orleans, LA	1.0	1.0	663	$1,100	$1.66	23d	1	0.20mi
6530 Royal St Arabi, LA	2.0	2.0	860	$1,550	$1.80	43d	1	0.24mi
6019 Royal St New Orleans, LA	2.0	1.0	790	$1,200	$1.52	23d	1	0.25mi
6608 Dauphine St Unit 6608 Arabi, LA	2.0	1.0	989	$1,325	$1.34	3d	1	0.32mi
6608 Dauphine St Arabi, LA	2.0	1.0	989	$1,395	$1.41	10d	1	0.32mi
6038 N Rampart St New Orleans, LA	3.0	2.0	1080	$1,795	$1.66	23d	1	0.39mi
1015 Government St Unit 11 Arabi, LA	2.0	1.0	720	$999	$1.39	43d	1	0.46mi
1030 Gordon St New Orleans, LA	2.0	1.0	675	$12,000	$17.78	43d	1	0.48mi
1030 Gordon St New Orleans, LA	2.0	1.0	675	$1,200	$1.78	3d	1	0.48mi
1030 Gordon St New Orleans, LA	2.0	1.0	675	$1,200	$1.78	3d	1	0.48mi
6002 Saint Claude Ave New Orleans, LA	2.0	2.0	965	$1,275	$1.32	21d	1	0.49mi
5434 Chartres St New Orleans, LA	2.0	1.0	800	$1,150	$1.44	23d	1	0.50mi
5805 Saint Claude Ave New Orleans, LA	2.0	1.0	800	$1,200	$1.50	23d	1	0.56mi
713 Community St Arabi, LA	2.0	1.0	850	$1,200	$1.41	3d	1	0.62mi
713 Community St Arabi, LA	2.0	1.0	850	$1,200	$1.41	3d	1	0.62mi
1334 Tricou St New Orleans, LA	2.0	1.0	1117	$1,500	$1.34	21d	1	0.65mi
18 Saint Claude Ct New Orleans, LA	3.0	1.0	864	$1,200	$1.39	11d	1	0.65mi
505 Center St Unit A Arabi, LA	3.0	1.0	811	$1,300	$1.60	43d	1	0.65mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	3d	1	0.69mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	3d	1	0.69mi
1333 Angela Ave Arabi, LA	3.0	2.0	1090	$1,850	$1.70	2d	1	0.69mi
1420 Delery St New Orleans, LA	2.0	1.0	900	$1,250	$1.39	11d	1	0.71mi
5109 Burgundy St New Orleans, LA	2.0	1.0	1122	$1,474	$1.31	17d	1	0.78mi
816 Forstall St New Orleans, LA	3.0	1.0	850	$1,600	$1.88	23d	1	0.79mi
920 Forstall St New Orleans, LA	2.0	1.0	800	$1,600	$2.00	23d	1	0.81mi
918 Forstall St New Orleans, LA	2.0	1.0	800	$2,290	$2.86	23d	1	0.81mi
4950 Dauphine St New Orleans, LA	1.0	1.0	612	$1,750	$2.86	10d	16	0.86mi
1414 Alexander Ave Unit B Arabi, LA	2.0	2.0	1000	$1,600	$1.60	43d	1	0.91mi
5900 N Derbigny St Unit 1 New Orleans, LA	3.0	2.0	1000	$1,950	$1.95	3d	1	0.91mi
1227 Flanders St New Orleans, LA	2.0	1.0	900	$1,000	$1.11	23d	1	0.91mi
1422 Andry St New Orleans, LA	3.0	2.0	1100	$1,400	$1.27	3d	1	0.91mi
1449 Andry St New Orleans, LA	2.0	1.0	833	$1,300	$1.56	23d	1	0.92mi
1313 Flanders St New Orleans, LA	2.0	1.0	900	$1,295	$1.44	20d	1	0.96mi
924 Deslonde St Unit B New Orleans, LA	2.0	1.0	658	$1,250	$1.90	23d	1	0.97mi
4801 Dauphine St Unit B New Orleans, LA	2.0	1.0	875	$1,100	$1.26	23d	1	0.98mi
4826 N Rampart St Unit 4826 New Orleans, LA	2.0	1.0	850	$1,200	$1.41	23d	1	0.98mi
4824 N Rampart St New Orleans, LA	2.0	1.0	606	$1,450	$2.39	23d	1	0.98mi
4824 N Rampart St New Orleans, LA	2.0	1.0	606	$1,450	$2.39	3d	1	0.98mi
1200 Southlawn Blvd New Orleans, LA	3.0	2.0	950	$1,725	$1.82	23d	1	0.99mi

Listing history 26 events

1. 2026-06-18
   days on market $112,500 Active 29 DOM
2. 2026-06-17
   days on market $112,500 Active 28 DOM
3. 2026-06-16
   days on market $112,500 Active 27 DOM
4. 2026-06-15
   days on market $112,500 Active 26 DOM
5. 2026-06-13
   days on market $112,500 Active 24 DOM
6. 2026-06-10
   days on market $112,500 Active 21 DOM
7. 2026-06-09
   days on market $112,500 Active 20 DOM
8. 2026-06-08
   days on market $112,500 Active 19 DOM
9. 2026-06-07
   days on market $112,500 Active 18 DOM
10. 2026-06-05
    days on market $112,500 Active 15 DOM
11. 2026-06-03
    days on market $112,500 Active 14 DOM
12. 2026-06-02
    days on market $112,500 Active 13 DOM
13. 2026-06-01
    days on market $112,500 Active 12 DOM
14. 2026-05-31
    days on market $112,500 Active 11 DOM
15. 2026-05-20
    listed $112,500 Active 550-char remark

    Show marketing remark (550 chars)

    LOCATION, LOCATION, LOCATION! This charming 2-bed, 1-bath Cottage is situated in the desirable Holy Cross Neighborhood, just one block from the Mississippi River and adjacent to Jackson Barracks. With fantastic access to the historic French Quarter, this property offers an incredible opportunity. While it needs some renovation and TLC, this is the perfect canvas for a buyer or investor ready to customize and unlock its full potential in a highly sought-after area. The 870 lvgsqft home features a raised foundation and fenced, off-street parking.

16. 2026-05-20
    listed $112,500 Active 550-char remark

    Show marketing remark (550 chars)

    LOCATION, LOCATION, LOCATION! This charming 2-bed, 1-bath Cottage is situated in the desirable Holy Cross Neighborhood, just one block from the Mississippi River and adjacent to Jackson Barracks. With fantastic access to the historic French Quarter, this property offers an incredible opportunity. While it needs some renovation and TLC, this is the perfect canvas for a buyer or investor ready to customize and unlock its full potential in a highly sought-after area. The 870 lvgsqft home features a raised foundation and fenced, off-street parking.

17. 2026-04-08
    price $112,500
18. 2025-11-14
    listed $125,000 Active
19. 2024-05-24
    price $109,900
20. 2024-04-10
    price $124,900
21. 2024-02-02
    price $129,900
22. 2023-12-29
    listed $109,900
23. 2003-10-03
    soldstatus $29,000
24. 2003-06-30
    listed $34,650
25. 2003-06-30
    listed $34,650
26. 1993-04-16
    soldstatus $24,500

ⓘ 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: $1,387 · $116/mo
• Projected year-2 tax: $1,387 · $116/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 (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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,745
• − Mortgage interest: −$6,302
• − Property taxes: −$1,387
• − Insurance: −$1,360
• − Repairs & maintenance: −$1,340
• − Management: −$1,340
• − Depreciation: −$3,273
• Taxable income: $1,744
• Est. tax owed @ 24.0%: −$419
• After-tax cash flow: $2,983/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): 25,652
• Household income: $45,764
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1988.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 30% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 5% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -177.22%
• Current HPI: 184.6061
• Rent YoY: ▲ 2.49%
• 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

+359.2% since first listed

12 events — show timeline

• 2026-05-20 Listed $112,500 AcadianaMLS
• 2026-05-20 Listed $112,500 GSREIN
• 2026-04-08 Price Changed $112,500 AcadianaMLS
• 2025-11-14 Listed $125,000 AcadianaMLS
• 2024-05-24 Price Changed $109,900 GSREIN
• 2024-04-10 Price Changed $124,900 GSREIN
• 2024-02-02 Price Changed $129,900 GSREIN
• 2023-12-29 Listed $109,900 AcadianaMLS
• 2003-10-03 Sold (MLS) $29,000 GSREIN
• 2003-06-30 Listed $34,650 GSREIN
• 2003-06-30 Listed $34,650 AcadianaMLS
• 1993-04-16 Sold (Public Records) $24,500 Public Records

Property tax history

+2.6%/yr

Latest (2026): $1,387 · +1.1% YoY. Source: county tax records.