4431 Eastern St · New Orleans, LA 70122

$245,000

3 bd · 1.5 ba · 1,714 sqft · SingleFamily public records · 46 Days on market

Built 1947 $143/sqft · 26% below area Est $324k · 24% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +12.6/30.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• 1% rule +2.8/10.0
• 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

OPEN HOUSE SUNDAY JUNE 7TH 12-2PMThis is not a cookie cutter-Come enjoy this unique floorplan with all the twist and turns.It offers a unique blend of the old and the new architeture of a New Orleans style home all situated in Gentilly Terrace neighborhood located in close proximity to everything;The home features bright and airy spacious living area open to the kitchen for entertaining, wonderfully sized bedrooms, and wood floors throuoghout;The property sits high so no flooding here, and additional amenities include a large backyard with a detached workshop with electricity and fenced in yard for privacy. The home is located on the end of a quiet street where so many great family gatherings can take place. Come see for yourself

Key facts

• Parking
• Built 1947
• Listed 46 days

Property features AI

Exterior

• Parking: Carport (detached, 1 space)
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electric service
• Home design: 2-story property; Raised foundation; Very good condition; Totally renovated/updated in 2006; no flooding from Hurricane Katrina
• Construction: Frame construction; Asphalt shingle roof; Workshop/outbuilding
• Exterior features: Fenced yard; Rectangular city lot

Interior

• Kitchen: Microwave; Oven; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Window heating unit; Window cooling unit
• Interior features: Ceiling fans; Carbon monoxide detector; Cable TV; Storm windows; Stainless steel appliances
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (7.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (22.1% below list).
• Recommended offer: $191k (22.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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.
• Zoned schools: Benjamin Franklin Elem. Math And Science (math 12% / reading 23%, grade F, #479 of 646 statewide, top 75%, 747 students, 98% FRL, charter) — zoned schools average 98% FRL vs 68% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.6%/yr); 336 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $1,908/mo this rent would consume 46% of the median local household income ($49k/yr) (locally 2150% 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 $2k of loan paydown is wiped out by about $7k 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 46 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 33y ago; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $245k implies a 158% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• 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 $190,801 (22.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.78% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.56%
• DSCR: 0.97
• GRM: 10.7

CMA / ARV

• ARV (median comp): $324,069
• List price: $245,000
• Delta: -24.40%
• 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
4462 Eastern St	0.05mi	4/2.5 (+1)	1,582 (-8%)	2mo	$235,000	$149	74
4615 Painters St	0.35mi	3/2.0	1,766 (+3%)	4mo	$324,900	$184	73
4647 Spain St	0.58mi	3/2.0	1,680 (-2%)	6mo	$386,550	$230	62
4571 Feliciana Dr	0.46mi	3/2.0	1,571 (-8%)	1mo	$195,000	$124	62
2340 Wisteria St	0.56mi	2/1.0 (-1)	1,717 (+0%)	7mo	$91,400	$53	61
4674 Venus St	0.36mi	3/3.0	1,870 (+9%)	6mo	$295,000	$158	57
4131 Clermont St	0.72mi	3/1.5	1,599 (-7%)	1mo	$175,000	$109	55
5145 Lafaye St	0.50mi	4/3.0 (+1)	1,616 (-6%)	2mo	$321,000	$199	55
4617 Metropolitan Dr	0.55mi	4/2.0 (+1)	1,800 (+5%)	6mo	$338,000	$188	54
5110 Press Dr	0.56mi	4/2.0 (+1)	1,553 (-9%)	6mo	$155,000	$100	46
4985 Feliciana Dr	0.61mi	4/2.0 (+1)	1,900 (+11%)	1mo	$240,000	$126	46
224 Simmons Dr	0.73mi	3/2.5	1,500 (-12%)	4mo	$189,000	$126	38

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: -22.4%
• Equity multiple: 0.25×
• Total profit: $-51,597
• Equity at exit: $36,530

10-year hold

• IRR: -25.9%
• Equity multiple: -0.09×
• Total profit: $-74,726
• Equity at exit: $21,183

Cash invested: $68,600 (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 70122

• Rents YoY: -0.6%
• Active inventory: 336
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,908 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$153 /mo · $1,831/yr
• Insurance: −$102
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $-99

Break-even live

Break-even rent $2,033

Max offer price $227,583

Occupancy floor —

Sensitivity live

Price	-10% $40	-5% $-29	+0% $-99	+5% $-168	+10% $-237
Rent	-10% $-249	-5% $-174	+0% $-99	+5% $-23	+10% $52
Rate	-1.0pp $25	-0.5pp $-36	base $-99	+0.5pp $-162	+1.0pp $-227

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4681 Eastern St New Orleans, LA	2.0	1.0	1100	$1,400	$1.27	18d	1	0.15mi
4767 Lafaye St New Orleans, LA	3.0	2.0	1469	$2,000	$1.36	25d	1	0.28mi
4936 Baccich St New Orleans, LA	3.0	1.0	1053	$1,700	$1.61	25d	1	0.35mi
3718 Franklin Ave New Orleans, LA	2.0	1.0	1601	$1,800	$1.12	13d	1	0.58mi
5172 Venus St Unit 5172 New Orleans, LA	3.0	2.5	1864	$2,450	$1.31	25d	1	0.60mi
2647 Myrtle St Unit 2647 New Orleans, LA	4.0	2.0	1445	$2,550	$1.76	45d	1	0.66mi
4618 Marigny St New Orleans, LA	3.0	1.0	1320	$1,900	$1.44	25d	1	0.74mi
2646 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	19d	1	0.74mi
2644 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	19d	1	0.74mi
2739 Bay St Unit B New Orleans, LA	4.0	2.0	1400	$1,800	$1.29	22d	1	0.80mi
2509 Sage St New Orleans, LA	3.0	1.0	1250	$1,650	$1.32	23d	1	0.82mi
5550 Press Dr New Orleans, LA	3.0	2.0	1640	$2,000	$1.22	18d	1	0.84mi
3540 Clermont Dr New Orleans, LA	3.0	2.0	1248	$1,975	$1.58	25d	1	0.88mi
3907 Elysian Fields Ave New Orleans, LA	3.0	2.0	1652	$3,000	$1.82	25d	1	0.89mi
4722 Mithra St New Orleans, LA	3.0	1.5	1295	$1,600	$1.24	25d	1	0.93mi
5519 Mandeville St New Orleans, LA	3.0	1.0	1125	$1,650	$1.47	5d	1	1.00mi
2458 Athis St New Orleans, LA	4.0	2.0	1530	$2,200	$1.44	25d	1	1.03mi
4304 Pauger St New Orleans, LA	2.0	1.0	1345	$1,450	$1.08	5d	1	1.06mi
3316 Metropolitan St New Orleans, LA	3.0	2.0	1184	$1,700	$1.44	25d	1	1.08mi
3302 Metropolitan St New Orleans, LA	4.0	2.5	1700	$2,200	$1.29	19d	1	1.10mi
3327 Elysian Fields Ave New Orleans, LA	3.0	1.0	1200	$1,300	$1.08	25d	1	1.13mi
4736 Saint Anthony Ave New Orleans, LA	3.0	1.0	1100	$1,800	$1.64	18d	1	1.14mi
5151 Saint Anthony Ave New Orleans, LA	3.0	2.0	1200	$1,795	$1.50	18d	1	1.19mi
3956 Pauger St New Orleans, LA	2.0	2.0	1200	$1,550	$1.29	25d	1	1.26mi
3001 Marigny St New Orleans, LA	2.0	1.0	1250	$1,400	$1.12	25d	1	1.28mi
3515 Saint Anthony Ave New Orleans, LA	3.0	2.0	1366	$2,500	$1.83	25d	1	1.28mi
5747 Pauline Dr New Orleans, LA	3.0	1.0	1300	$1,400	$1.08	13d	1	1.28mi
5546 Pasteur Blvd Unit A New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	25d	1	1.29mi
6226 Lafaye St New Orleans, LA	2.0	2.0	1137	$2,600	$2.29	13d	1	1.29mi
6226 Lafaye St New Orleans, LA	2.0	2.0	1137	$2,600	$2.29	45d	1	1.29mi
5718 Vermillion Blvd Unit A New Orleans, LA	3.0	1.0	1300	$2,000	$1.54	25d	1	1.30mi
2312 Madrid St New Orleans, LA	2.0	1.0	1100	$1,475	$1.34	25d	1	1.31mi
5322 Saint Anthony Ave New Orleans, LA	3.0	2.0	1192	$2,000	$1.68	18d	1	1.32mi
5723 Pasteur Blvd New Orleans, LA	3.0	2.0	1150	$1,700	$1.48	19d	1	1.33mi
6222 Arts St Unit 6226 New Orleans, LA	2.0	1.5	1120	$1,250	$1.12	25d	1	1.34mi
4815 Warrington Dr New Orleans, LA	3.0	2.0	1652	$2,150	$1.30	18d	1	1.35mi
5925 Pauline Dr New Orleans, LA	3.0	2.0	1566	$2,325	$1.48	18d	1	1.36mi
2152 Abundance St Unit 2152 New Orleans, LA	3.0	2.0	1100	$1,599	$1.45	5d	1	1.39mi
6416 Baccich St New Orleans, LA	3.0	2.0	1908	$2,500	$1.31	45d	1	1.41mi
6009 Pasteur Blvd New Orleans, LA	3.0	2.0	1250	$1,785	$1.43	25d	1	1.43mi

Listing history 25 events

1. 2026-06-21
   days on market $245,000 Active 46 DOM
2. 2026-06-18
   days on market $245,000 Active 43 DOM
3. 2026-06-17
   days on market $245,000 Active 42 DOM
4. 2026-06-16
   days on market $245,000 Active 41 DOM
5. 2026-06-16
   price $245,000 Active 40 DOM
6. 2026-06-15
   days on market $275,000 Active 40 DOM

   Show marketing remark (739 chars)

   OPEN HOUSE SUNDAY JUNE 7TH 12-2PMThis is not a cookie cutter-Come enjoy this unique floorplan with all the twist and turns.It offers a unique blend of the old and the new architeture of a New Orleans style home all situated in Gentilly Terrace neighborhood located in close proximity to everything;The home features bright and airy spacious living area open to the kitchen for entertaining, wonderfully sized bedrooms, and wood floors throuoghout;The property sits high so no flooding here, and additional amenities include a large backyard with a detached workshop with electricity and fenced in yard for privacy. The home is located on the end of a quiet street where so many great family gatherings can take place. Come see for yourself

7. 2026-06-13
   days on market $275,000 Active 38 DOM
8. 2026-06-10
   days on market $275,000 Active 35 DOM
9. 2026-06-09
   days on market $275,000 Active 34 DOM
10. 2026-06-08
    days on market $275,000 Active 33 DOM
11. 2026-06-07
    days on market $275,000 Active 32 DOM
12. 2026-06-05
    days on market $275,000 Active 29 DOM
13. 2026-06-03
    days on market $275,000 Active 28 DOM
14. 2026-06-02
    days on market $275,000 Active 27 DOM
15. 2026-06-01
    days on market $275,000 Active 26 DOM
16. 2026-05-31
    days on market $275,000 Active 25 DOM
17. 2026-05-06
    listed $275,000 Active 706-char remark

    Show marketing remark (739 chars)

    OPEN HOUSE SUNDAY JUNE 7TH 12-2PMThis is not a cookie cutter-Come enjoy this unique floorplan with all the twist and turns.It offers a unique blend of the old and the new architeture of a New Orleans style home all situated in Gentilly Terrace neighborhood located in close proximity to everything;The home features bright and airy spacious living area open to the kitchen for entertaining, wonderfully sized bedrooms, and wood floors throuoghout;The property sits high so no flooding here, and additional amenities include a large backyard with a detached workshop with electricity and fenced in yard for privacy. The home is located on the end of a quiet street where so many great family gatherings can take place. Come see for yourself

18. 2026-05-06
    listed $275,000 Active 709-char remark

    Show marketing remark (739 chars)

    OPEN HOUSE SUNDAY JUNE 7TH 12-2PMThis is not a cookie cutter-Come enjoy this unique floorplan with all the twist and turns.It offers a unique blend of the old and the new architeture of a New Orleans style home all situated in Gentilly Terrace neighborhood located in close proximity to everything;The home features bright and airy spacious living area open to the kitchen for entertaining, wonderfully sized bedrooms, and wood floors throuoghout;The property sits high so no flooding here, and additional amenities include a large backyard with a detached workshop with electricity and fenced in yard for privacy. The home is located on the end of a quiet street where so many great family gatherings can take place. Come see for yourself

19. 2002-04-03
    soldstatus $95,000
20. 2002-01-23
    listed $112,500
21. 2002-01-23
    listed $112,500
22. 1994-01-05
    soldstatus $79,337
23. 1993-10-18
    listed $85,000
24. 1993-10-18
    listed $85,000
25. 1987-07-08
    soldstatus $86,910

ⓘ 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: $1,831 · $153/mo
• Projected year-2 tax: $1,831 · $153/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $22,896
• − Mortgage interest: −$13,724
• − Property taxes: −$1,831
• − Insurance: −$2,022
• − Repairs & maintenance: −$1,832
• − Management: −$1,832
• − Depreciation: −$7,127
• Taxable loss: −$5,472
• Est. tax savings @ 24.0%: +$1,313
• After-tax cash flow: $130/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): 35,253
• Household income: $49,455
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 2150.0

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 (69%)
• Race & ethnicity: Black 69% White 18% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 4% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 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: ▼ -222.37%
• Current HPI: 231.9921
• Rent YoY: ▼ -0.61%
• 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

+181.9% since first listed

11 events — show timeline

• 2026-06-15 Price Changed $245,000 AcadianaMLS
• 2026-06-15 Price Changed $245,000 GSREIN
• 2026-05-06 Listed $275,000 GSREIN
• 2026-05-06 Listed $275,000 AcadianaMLS
• 2002-04-03 Sold (MLS) $95,000 GSREIN
• 2002-01-23 Listed $112,500 GSREIN
• 2002-01-23 Listed $112,500 AcadianaMLS
• 1994-01-05 Sold (MLS) $79,337 GSREIN
• 1993-10-18 Listed $85,000 GSREIN
• 1993-10-18 Listed $85,000 AcadianaMLS
• 1987-07-08 Sold (Public Records) $86,910 Public Records

Property tax history

+2.2%/yr

Latest (2026): $1,831 · -4.9% YoY. Source: county tax records.