4510 Read Blvd · New Orleans, LA 70127

$161,000

3 bd · 2.0 ba · 1,864 sqft · SingleFamily public records · 113 Days on market

Built 1972 $86/sqft · 27% below area Est $220k · 27% 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 +23.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 4510 Read Boulevard, a well-maintained home offering comfort, space, and convenience. This property features a functional layout with spacious living areas, comfortable bedrooms, and plenty of natural light throughout. The kitchen provides ample cabinet and counter space, making it ideal for everyday living and entertaining. The yard offers room to relax, garden, or host gatherings. Conveniently located near shopping, dining, and major roadways, this home presents a great opportunity for homeowners

Key facts

• Ample cabinet space
• Functional layout
• Conveniently located

Tags

• FUNCTIONAL LAYOUT
• AMPLE CABINET SPACE
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $161k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $161k).
• Recommended offer: $147k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: 128 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $1,739/mo this rent would consume 51% of the median local household income ($41k/yr) (locally 2030% 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 $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 113 days — a 9% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 23y ago; this cycle's ask has dropped $9k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $146,510 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.08% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.26%
• DSCR: 1.37
• GRM: 7.7

CMA / ARV

• ARV (median comp): $220,232
• List price: $161,000
• Delta: -26.90%
• 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
10101 Dreux Ave	0.18mi	3/2.0	1,633 (-12%)	3mo	$206,000	$126	68
4811 Perelli Dr	0.33mi	3/2.0	1,730 (-7%)	6mo	$200,000	$116	67
5040 Good Dr	0.68mi	3/2.0	1,867 (+0%)	3mo	$193,500	$104	66
4650 Sandalwood St	0.16mi	3/2.0	2,053 (+10%)	13mo	$199,000	$97	65
4718 Hauck Dr	0.45mi	3/2.0	1,748 (-6%)	5mo	$234,000	$134	65
4912 Corinne St	0.62mi	3/2.0	1,788 (-4%)	5mo	$199,000	$111	60
4611 Charlmark Dr	0.23mi	4/3.0 (+1)	2,100 (+13%)	0mo	$315,000	$150	59
4711 Eunice St	0.42mi	3/2.0	1,665 (-11%)	8mo	$219,000	$132	56
4958 Sandalwood St	0.49mi	4/2.0 (+1)	1,691 (-9%)	5mo	$285,000	$169	53
10114 Pressburg St	0.39mi	4/1.5 (+1)	1,700 (-9%)	11mo	$155,000	$91	51
4910 Eunice Dr	0.57mi	4/2.0 (+1)	1,974 (+6%)	10mo	$160,000	$81	50
10229 Seawood St	0.48mi	4/2.5 (+1)	2,010 (+8%)	11mo	$197,500	$98	49

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-10,522
• Equity at exit: $24,006

10-year hold

• IRR: 3.4%
• Equity multiple: 1.24×
• Total profit: $10,986
• Equity at exit: $13,920

Cash invested: $45,080 (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 70127

• Home prices YoY: -29.2%
• Active inventory: 128
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,739 high
• Mortgage (P&I): −$844
• Tax from tax record: −$152 /mo · $1,829/yr
• Insurance: −$67
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $244

Break-even live

Break-even rent $1,431

Max offer price $161,000

Occupancy floor 81%

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: $40,250
• Closing costs: $4,830
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5000 Cardenas Dr New Orleans, LA	3.0	2.0	1800	$1,920	$1.07	23d	1	0.52mi
5131 Bundy Rd New Orleans, LA	1.0–3.0	1.0–2.0	1000	$1,314	$1.31	1d	21	0.76mi
7608 Laine Ave New Orleans, LA	3.0	2.5	2060	$1,950	$0.95	23d	1	1.42mi
9040 Bunker Hill Rd New Orleans, LA	3.0	1.5	1400	$1,450	$1.04	15d	1	1.50mi
9042 Bunker Hill Rd New Orleans, LA	3.0	1.5	1400	$1,450	$1.04	15d	1	1.50mi

Listing history 39 events

1. 2026-06-18
   days on market $161,000 Active 113 DOM
2. 2026-06-17
   days on market $161,000 Active 112 DOM
3. 2026-06-16
   days on market $161,000 Active 111 DOM
4. 2026-06-15
   days on market $161,000 Active 110 DOM
5. 2026-06-13
   days on market $161,000 Active 108 DOM
6. 2026-06-10
   days on market $161,000 Active 105 DOM
7. 2026-06-09
   days on market $161,000 Active 104 DOM
8. 2026-06-08
   days on market $161,000 Active 103 DOM
9. 2026-06-07
   days on market $161,000 Active 102 DOM
10. 2026-06-05
    days on market $161,000 Active 99 DOM
11. 2026-06-03
    days on market $161,000 Active 98 DOM
12. 2026-06-02
    days on market $161,000 Active 97 DOM
13. 2026-06-01
    days on market $161,000 Active 96 DOM
14. 2026-05-31
    days on market $161,000 Active 95 DOM
15. 2026-05-08
    price $161,000 514-char remark

    Show marketing remark (514 chars)

    Welcome to 4510 Read Boulevard, a well-maintained home offering comfort, space, and convenience. This property features a functional layout with spacious living areas, comfortable bedrooms, and plenty of natural light throughout. The kitchen provides ample cabinet and counter space, making it ideal for everyday living and entertaining. The yard offers room to relax, garden, or host gatherings. Conveniently located near shopping, dining, and major roadways, this home presents a great opportunity for homeowners

16. 2026-05-08
    price $161,000 514-char remark

    Show marketing remark (514 chars)

    Welcome to 4510 Read Boulevard, a well-maintained home offering comfort, space, and convenience. This property features a functional layout with spacious living areas, comfortable bedrooms, and plenty of natural light throughout. The kitchen provides ample cabinet and counter space, making it ideal for everyday living and entertaining. The yard offers room to relax, garden, or host gatherings. Conveniently located near shopping, dining, and major roadways, this home presents a great opportunity for homeowners

17. 2026-03-20
    price $165,000 514-char remark

    Show marketing remark (514 chars)

    Welcome to 4510 Read Boulevard, a well-maintained home offering comfort, space, and convenience. This property features a functional layout with spacious living areas, comfortable bedrooms, and plenty of natural light throughout. The kitchen provides ample cabinet and counter space, making it ideal for everyday living and entertaining. The yard offers room to relax, garden, or host gatherings. Conveniently located near shopping, dining, and major roadways, this home presents a great opportunity for homeowners

18. 2026-03-20
    price $165,000 514-char remark

    Show marketing remark (514 chars)

    Welcome to 4510 Read Boulevard, a well-maintained home offering comfort, space, and convenience. This property features a functional layout with spacious living areas, comfortable bedrooms, and plenty of natural light throughout. The kitchen provides ample cabinet and counter space, making it ideal for everyday living and entertaining. The yard offers room to relax, garden, or host gatherings. Conveniently located near shopping, dining, and major roadways, this home presents a great opportunity for homeowners

19. 2026-02-25
    listed $170,000 Active 514-char remark

    Show marketing remark (514 chars)

    Welcome to 4510 Read Boulevard, a well-maintained home offering comfort, space, and convenience. This property features a functional layout with spacious living areas, comfortable bedrooms, and plenty of natural light throughout. The kitchen provides ample cabinet and counter space, making it ideal for everyday living and entertaining. The yard offers room to relax, garden, or host gatherings. Conveniently located near shopping, dining, and major roadways, this home presents a great opportunity for homeowners

20. 2026-02-25
    listed $170,000 Active 514-char remark

    Show marketing remark (514 chars)

    Welcome to 4510 Read Boulevard, a well-maintained home offering comfort, space, and convenience. This property features a functional layout with spacious living areas, comfortable bedrooms, and plenty of natural light throughout. The kitchen provides ample cabinet and counter space, making it ideal for everyday living and entertaining. The yard offers room to relax, garden, or host gatherings. Conveniently located near shopping, dining, and major roadways, this home presents a great opportunity for homeowners

21. 2025-06-09
    price $179,000
22. 2025-06-09
    price $179,000
23. 2025-02-17
    listed $179,000 Active
24. 2025-02-17
    listed $189,000 Active
25. 2022-07-13
    soldstatus $157,000
26. 2022-07-11
    soldstatus $157,000 Closed
27. 2022-07-08
    status Pending
28. 2022-04-22
    listed $175,000 Active
29. 2022-04-22
    listed $175,000
30. 2021-06-23
    listed $165,000
31. 2021-01-19
    listed $124,900
32. 2011-12-17
    listed $145,000
33. 2011-12-17
    listed $145,000
34. 2011-06-27
    listed $150,000
35. 2011-06-27
    listed $150,000
36. 2003-11-17
    soldstatus $65,000
37. 2003-07-25
    listed $76,900
38. 2003-07-25
    listed $76,900
39. 1992-04-30
    soldstatus $78,000

ⓘ 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: $1,829 · $152/mo
• Projected year-2 tax: $1,829 · $152/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 · 60% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $20,872
• − Mortgage interest: −$9,019
• − Property taxes: −$1,829
• − Insurance: −$1,602
• − Repairs & maintenance: −$1,670
• − Management: −$1,670
• − Depreciation: −$4,684
• Taxable income: $399
• Est. tax owed @ 24.0%: −$96
• After-tax cash flow: $2,830/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): 23,107
• Household income: $40,765
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2030.0

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 (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 4% Two or more races 4% White 2%
• Common ancestry: Lithuanian 1% Hispanic 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -72.43%
• Current HPI: 175.4465
• Rent YoY: —
• 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

+106.4% since first listed

25 events — show timeline

• 2026-05-08 Price Changed $161,000 AcadianaMLS
• 2026-05-08 Price Changed $161,000 GSREIN
• 2026-03-20 Price Changed $165,000 AcadianaMLS
• 2026-03-20 Price Changed $165,000 GSREIN
• 2026-02-25 Listed $170,000 GSREIN
• 2026-02-25 Listed $170,000 AcadianaMLS
• 2025-06-09 Price Changed $179,000 AcadianaMLS
• 2025-06-09 Price Changed $179,000 GSREIN
• 2025-02-17 Listed $189,000 AcadianaMLS
• 2025-02-17 Listed $179,000 AcadianaMLS
• 2022-07-13 Sold (Public Records) $157,000 Public Records
• 2022-07-11 Sold (MLS) $157,000 GSREIN
• 2022-07-08 Pending — GSREIN
• 2022-04-22 Listed $175,000 AcadianaMLS
• 2022-04-22 Listed $175,000 GSREIN
• 2021-06-23 Listed $165,000 AcadianaMLS
• 2021-01-19 Listed $124,900 AcadianaMLS
• 2011-12-17 Listed $145,000 GSREIN
• 2011-12-17 Listed $145,000 AcadianaMLS
• 2011-06-27 Listed $150,000 GSREIN
• 2011-06-27 Listed $150,000 AcadianaMLS
• 2003-11-17 Sold (MLS) $65,000 GSREIN
• 2003-07-25 Listed $76,900 GSREIN
• 2003-07-25 Listed $76,900 AcadianaMLS
• 1992-04-30 Sold (Public Records) $78,000 Public Records

Property tax history

+2.9%/yr

Latest (2026): $1,829 · +86.6% YoY. Source: county tax records.