6611 E Hermes St · New Orleans, LA 70126

$175,000

3 bd · 2.0 ba · 1,796 sqft · SingleFamily public records · 111 Days on market

Built 1970 Est $194k · 10% 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 +22.5/30.0
• ARV discount +11.9/15.0
• DSCR +7.2/10.0
• 1% rule +5.3/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-maintained 3-bedroom, 2-bath single-family home offering strong appeal for both owner-occupants and investors. It features no carpet throughout for easy maintenance, a large pantry providing excellent storage, and comfortably sized bedrooms. Situated on a spacious fenced lot with a large yard and long driveway for ample off-street parking. Property is currently tenant-occupied with a Section 8 tenant producing reliable rental income, making this a solid turnkey investment opportunity. Also well-suited as a starter home for future owner occupancy.

Key facts

• No carpet
• Large yard
• Large pantry

Tags

• NO CARPET
• LARGE PANTRY
• FENCED LOT
• LARGE YARD
• LONG DRIVEWAY
• TENANT-OCCUPIED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $159k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 (-0.2%/yr); 224 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 52% of the median local household income ($42k/yr) (locally 1767% 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 111 days — a 9% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 16y 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 $48k; list at $175k implies a 261% gain — meaningful room to come down on a strong offer.

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 $159,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 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 1970 — 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: 1.03% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.23%
• DSCR: 1.32
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $193,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6721 Dorchester Dr	0.65mi	3/2.0	1,800 (+0%)	2mo	$209,000	$116	68
4942 Virgilian St	0.22mi	3/2.0	2,010 (+12%)	12mo	$65,000	$32	60
6775 Deanne St	0.37mi	3/2.0	1,660 (-8%)	13mo	$65,000	$39	59
6651 Foch St	0.19mi	4/2.0 (+1)	1,635 (-9%)	18mo	$172,000	$105	56
6953 E Laverne St	0.23mi	2/1.0 (-1)	1,560 (-13%)	4mo	$87,000	$56	55
4741 Lafon Dr	0.70mi	3/2.0	1,838 (+2%)	12mo	$199,000	$108	54
4414 Ray Ave	0.65mi	3/2.0	1,612 (-10%)	2mo	$133,000	$83	51
7180 W Laverne St	0.43mi	3/2.0	1,540 (-14%)	10mo	$260,000	$169	48
7530 Newcastle St	0.65mi	3/2.0	1,922 (+7%)	13mo	$115,000	$60	47
6701 Morrison Rd	0.52mi	3/3.0	2,000 (+11%)	8mo	$255,000	$128	46
4800 Camelia St	0.72mi	3/2.0	1,580 (-12%)	3mo	$180,000	$114	44
7400 Newcastle St	0.56mi	4/3.0 (+1)	2,009 (+12%)	12mo	$235,500	$117	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.0%
• Equity multiple: 0.61×
• Total profit: $-19,065
• Equity at exit: $26,093

10-year hold

• IRR: -6.7%
• Equity multiple: 0.63×
• Total profit: $-18,200
• Equity at exit: $15,131

Cash invested: $49,000 (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 70126

• Home prices YoY: -17.0%
• Rents YoY: -0.2%
• Active inventory: 224
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,803 high
• Mortgage (P&I): −$918
• Tax from tax record: −$139 /mo · $1,666/yr
• Insurance: −$73
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $229

Break-even live

Break-even rent $1,514

Max offer price $175,000

Occupancy floor 82%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6628 Harbourview Dr New Orleans, LA	3.0	2.5	1520	$1,700	$1.12	3d	1	0.22mi
4819 21 Francis Dr New Orleans, LA	3.0	1.0	1272	$1,880	$1.48	3d	1	0.22mi
4745 Francis Dr New Orleans, LA	3.0	2.0	1311	$1,550	$1.18	15d	1	0.28mi
4522 Shalimar Dr New Orleans, LA	3.0	2.0	1350	$1,850	$1.37	23d	1	0.55mi
5920 Boeing St New Orleans, LA	3.0	1.5	1340	$1,400	$1.04	23d	1	0.62mi
7530 Newcastle St New Orleans, LA	3.0	2.0	1913	$1,800	$0.94	23d	1	0.65mi
4409 Skyview Dr New Orleans, LA	4.0	2.5	1560	$1,700	$1.09	15d	1	0.66mi
4441 Cessna Ct New Orleans, LA	3.0	1.5	1400	$1,600	$1.14	23d	1	0.66mi
7404 Sussex Pl New Orleans, LA	2.0	1.5	1400	$1,450	$1.04	2d	1	0.74mi
7611 Mayfair Pl New Orleans, LA	2.0	1.5	1440	$1,450	$1.01	3d	1	0.80mi
5704 Count Ln New Orleans, LA	3.0	1.5	1572	$1,700	$1.08	23d	1	0.84mi
5611 Rickert Dr New Orleans, LA	3.0	2.5	2155	$2,900	$1.35	43d	1	0.98mi
5747 Pauline Dr New Orleans, LA	3.0	1.0	1300	$1,400	$1.08	11d	1	1.18mi
5925 Pauline Dr New Orleans, LA	3.0	2.0	1566	$2,325	$1.48	15d	1	1.21mi
4828 Eastview Dr New Orleans, LA	4.0	2.0	1260	$1,675	$1.33	23d	1	1.31mi
4722 Mithra St New Orleans, LA	3.0	1.5	1295	$1,600	$1.24	23d	1	1.36mi
7608 Laine Ave New Orleans, LA	3.0	2.5	2060	$1,950	$0.95	23d	1	1.44mi

Listing history 25 events

1. 2026-06-18
   days on market $175,000 Active 111 DOM
2. 2026-06-17
   days on market $175,000 Active 110 DOM
3. 2026-06-16
   days on market $175,000 Active 109 DOM
4. 2026-06-15
   days on market $175,000 Active 108 DOM
5. 2026-06-13
   days on market $175,000 Active 106 DOM
6. 2026-06-10
   days on market $175,000 Active 103 DOM
7. 2026-06-09
   days on market $175,000 Active 102 DOM
8. 2026-06-08
   days on market $175,000 Active 101 DOM
9. 2026-06-07
   days on market $175,000 Active 100 DOM
10. 2026-06-05
    days on market $175,000 Active 97 DOM
11. 2026-06-03
    days on market $175,000 Active 96 DOM
12. 2026-06-02
    days on market $175,000 Active 95 DOM
13. 2026-06-01
    days on market $175,000 Active 94 DOM
14. 2026-05-31
    days on market $175,000 Active 93 DOM
15. 2026-02-27
    listed $175,000 Active 557-char remark

    Show marketing remark (558 chars)

    Well-maintained 3-bedroom, 2-bath single-family home offering strong appeal for both owner-occupants and investors. It features no carpet throughout for easy maintenance, a large pantry providing excellent storage, and comfortably sized bedrooms. Situated on a spacious fenced lot with a large yard and long driveway for ample off-street parking. Property is currently tenant-occupied with a Section 8 tenant producing reliable rental income, making this a solid turnkey investment opportunity. Also well-suited as a starter home for future owner occupancy.

16. 2026-02-27
    listed $175,000 Active 558-char remark

    Show marketing remark (558 chars)

    Well-maintained 3-bedroom, 2-bath single-family home offering strong appeal for both owner-occupants and investors. It features no carpet throughout for easy maintenance, a large pantry providing excellent storage, and comfortably sized bedrooms. Situated on a spacious fenced lot with a large yard and long driveway for ample off-street parking. Property is currently tenant-occupied with a Section 8 tenant producing reliable rental income, making this a solid turnkey investment opportunity. Also well-suited as a starter home for future owner occupancy.

17. 2013-03-01
    soldstatus $48,500
18. 2013-01-14
    listed $53,410
19. 2013-01-14
    listed $53,410
20. 2012-08-10
    listed $58,410
21. 2012-08-10
    listed $58,410
22. 2011-03-18
    soldstatus $115,000
23. 2010-07-09
    listed $132,000
24. 2010-07-09
    listed $132,000
25. 1980-10-31
    soldstatus $55,000

ⓘ 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: $1,666 · $139/mo
• Projected year-2 tax: $1,666 · $139/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 9/10 Extreme FEMA zone X (shaded) · 76% 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: $21,638
• − Mortgage interest: −$9,803
• − Property taxes: −$1,666
• − Insurance: −$1,672
• − Repairs & maintenance: −$1,731
• − Management: −$1,731
• − Depreciation: −$5,091
• Taxable loss: −$56
• Est. tax savings @ 24.0%: +$13
• After-tax cash flow: $2,756/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): 27,047
• Household income: $41,709
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 1767.0

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 (85%)
• Race & ethnicity: Black 85% Hispanic / Latino 6% Two or more races 5% White 5%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 5% 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: ▼ -36.35%
• Current HPI: 177.355
• Rent YoY: ▼ -0.24%
• 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

+218.2% since first listed

11 events — show timeline

• 2026-02-27 Listed $175,000 GSREIN
• 2026-02-27 Listed $175,000 AcadianaMLS
• 2013-03-01 Sold (MLS) $48,500 GSREIN
• 2013-01-14 Listed $53,410 AcadianaMLS
• 2013-01-14 Listed $53,410 GSREIN
• 2012-08-10 Listed $58,410 GSREIN
• 2012-08-10 Listed $58,410 AcadianaMLS
• 2011-03-18 Sold (Public Records) $115,000 Public Records
• 2010-07-09 Listed $132,000 GSREIN
• 2010-07-09 Listed $132,000 AcadianaMLS
• 1980-10-31 Sold (Public Records) $55,000 Public Records

Property tax history

-0.4%/yr

Latest (2026): $1,666 · +1.1% YoY. Source: county tax records.