4627 Evangeline Dr · New Orleans, LA 70127

$145,000

3 bd · 2.0 ba · 1,217 sqft · SingleFamily public records · 140 Days on market

Built 1964 5,549 sqft lot $119/sqft · 10% below area Est $189k · 23% 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 +21.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.9/10.0
• 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

Fantastic opportunity to expand your rental portfolio (section 8 approved property with tenant in place) OR make this charming home your own! * THIS HOME QUALIFIES FOR UP TO 100% FINANCING WITH NO PMI, AND UP TO $6000 IN GRANT FUNDS ASSITANCE through preferred lender program * Precious 3-sided brick home in New Orleans East, nestled on a large lot with ample off-street parking! Fabulous, covered patio, and paved sidewalk entry. This home features tile flooring throughout. Open floor plan living/dining room opens to galley kitchen and laundry room. Large primary bedroom with walk-in closet and ensuite with single vanity and tub/shower combo. Spacious guest bedrooms with large closets. Guest bathroom features single vanity and tub/shower combo. Fantastic, all brick rear patio perfect for entertaining. Large rear yard, fully fenced with chain link fencing. Convenient location with easy access to Chef Menteur Hwy, I-10, restaurants and shopping. No flood insurance required - but current policy of $843/yr can be assumed. Currently tenant occupied at $1500/month. A MUST SEE! Make it yours today!

Key facts

• Large lot
• Covered patio
• Paved sidewalk entry

Tags

• 3 SIDED BRICK HOME
• LARGE LOT
• AMPLE OFF STREET PARKING
• COVERED PATIO
• PAVED SIDEWALK ENTRY
• TILE FLOORING

🏷️ Possibly a rental listed for sale. The $145,000 price doesn't fit this home's estimated sale value (~$188,612) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (1.4% below list).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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: 128 active listings in the ZIP; 25 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).
• This rent runs 42% of the median local income ($41k/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 $1k 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.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $145k implies a 383% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — 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: 0.99% ✗
• Cap rate: 8.04%
• Cash-on-cash: 6.26%
• DSCR: 1.28
• GRM: 8.5

CMA / ARV

• ARV (median comp): $188,612
• List price: $145,000
• Delta: -17.82%
• 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
4650 Cerise Ave	0.13mi	3/2.0	1,144 (-6%)	8mo	$178,000	$156	78
4718 Lancelot Dr	0.36mi	3/2.0	1,144 (-6%)	4mo	$167,000	$146	70
4790 Gawain Dr	0.48mi	3/2.0	1,144 (-6%)	1mo	$165,000	$144	67
4651 Lurline St	0.55mi	3/2.0	1,224 (+1%)	11mo	$158,000	$129	64
4734 Galahad Dr	0.40mi	3/1.0	1,332 (+9%)	5mo	$105,000	$79	57
10118 Springwood St	0.73mi	3/2.0	1,228 (+1%)	12mo	$167,000	$136	54
4835 Evangeline Dr	0.25mi	3/1.0	1,050 (-14%)	14mo	$135,000	$129	50
4736 Crowder Blvd	0.57mi	3/2.0	1,343 (+10%)	12mo	$157,000	$117	46
4818 Sandalwood St	0.61mi	4/2.0 (+1)	1,297 (+7%)	12mo	$170,000	$131	46
4659 Dodt Ave	0.70mi	3/2.0	1,072 (-12%)	2mo	$54,700	$51	46
4560 Laine Ave	0.68mi	2/1.0 (-1)	1,079 (-11%)	10mo	$113,000	$105	32
4429 Laine Ave	0.68mi	3/1.0	1,035 (-15%)	13mo	$40,000	$39	28

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: -9.6%
• Equity multiple: 0.65×
• Total profit: $-14,235
• Equity at exit: $21,620

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-442
• Equity at exit: $12,537

Cash invested: $40,600 (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 70127

• Home prices YoY: -29.2%
• Active inventory: 128
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,429 high
• Mortgage (P&I): −$760
• Tax from tax record: −$96 /mo · $1,157/yr
• Insurance: −$60
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $145

Break-even live

Break-even rent $1,245

Max offer price $145,000

Occupancy floor 85%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5131 Bundy Rd New Orleans, LA	1.0–3.0	1.0–2.0	1000	$1,314	$1.31	2d	21	0.51mi
4574 Dodt Ave Unit A New Orleans, LA	2.0	1.0	831	$1,050	$1.26	23d	1	0.70mi
4761 Eastview Dr New Orleans, LA	3.0	1.0	864	$1,550	$1.79	21d	1	0.75mi
4923 Eastview Dr New Orleans, LA	3.0	2.0	912	$1,400	$1.54	23d	1	0.81mi
4828 Eastview Dr New Orleans, LA	4.0	2.0	1260	$1,675	$1.33	23d	1	0.81mi
4901 Bonita Dr New Orleans, LA	2.0	1.0	900	$1,100	$1.22	23d	1	0.90mi
4808 Viola St New Orleans, LA	3.0	2.0	1130	$1,500	$1.33	23d	1	1.01mi
4880 Viola St New Orleans, LA	3.0	2.0	1150	$1,595	$1.39	23d	1	1.03mi
9020 Bunker Hill Rd New Orleans, LA	3.0	1.5	1400	$1,400	$1.00	23d	1	1.07mi
9022 Bunker Hill Rd New Orleans, LA	3.0	1.5	1400	$1,400	$1.00	23d	1	1.07mi
9040 Bunker Hill Rd New Orleans, LA	3.0	1.5	1400	$1,450	$1.04	16d	1	1.07mi
9042 Bunker Hill Rd New Orleans, LA	3.0	1.5	1400	$1,450	$1.04	16d	1	1.08mi
6881 Parc Brittany Blvd New Orleans, LA	1.0–2.0	1.0–2.0	741	$1,055	$1.42	2d	31	1.14mi
7019 Crowder Blvd Unit 126 New Orleans, LA	2.0	1.5	952	$982	$1.03	23d	1	1.18mi
4701 Rosemont Pl New Orleans, LA	3.0	1.0	843	$1,450	$1.72	23d	1	1.19mi
7502 Chef Menteur Hwy New Orleans, LA	3.0	1.0	1000	$1,500	$1.50	23d	1	1.26mi
7019 Huntington Park Dr New Orleans, LA	2.0	1.5	952	$986	$1.04	23d	1	1.28mi
7019 Huntington Park Dr Unit 21 New Orleans, LA	2.0	1.5	952	$982	$1.03	23d	1	1.28mi
4745 Tulip St New Orleans, LA	3.0	1.0	1125	$1,750	$1.56	20d	1	1.33mi
4941 Pecan St Unit 1 New Orleans, LA	2.0	1.0	1000	$1,200	$1.20	23d	1	1.39mi
6835 Mayo Blvd Unit C New Orleans, LA	2.0	1.5	840	$1,195	$1.42	23d	1	1.41mi
4452 Plum Orchard Ave New Orleans, LA	2.0	1.0	1100	$1,250	$1.14	3d	1	1.44mi
8802 Morrison Rd New Orleans, LA	2.0	1.0	1071	$1,275	$1.19	23d	1	1.45mi
9002 Morrison Rd New Orleans, LA	2.0	1.5	1050	$1,150	$1.10	20d	1	1.45mi
7225 Chef Menteur Hwy New Orleans, LA	1.0–2.0	1.0–2.0	739	$994	$1.35	2d	10	1.49mi

Listing history 24 events

1. 2026-06-18
   days on market $145,000 Active 140 DOM
2. 2026-06-17
   pricedays on market $145,000 Active 139 DOM
3. 2026-06-16
   days on market $155,000 Active 138 DOM
4. 2026-06-15
   days on market $155,000 Active 137 DOM
5. 2026-06-13
   days on market $155,000 Active 135 DOM
6. 2026-06-10
   days on market $155,000 Active 132 DOM
7. 2026-06-09
   days on market $155,000 Active 131 DOM
8. 2026-06-08
   days on market $155,000 Active 130 DOM
9. 2026-06-07
   days on market $155,000 Active 129 DOM
10. 2026-06-05
    days on market $155,000 Active 126 DOM
11. 2026-06-03
    days on market $155,000 Active 125 DOM
12. 2026-06-02
    days on market $155,000 Active 124 DOM
13. 2026-06-01
    days on market $155,000 Active 123 DOM
14. 2026-05-31
    days on market $155,000 Active 122 DOM
15. 2026-01-29
    listed $155,000 Active 1108-char remark

    Show marketing remark (1104 chars)

    Fantastic opportunity to expand your rental portfolio (section 8 approved property with tenant in place) OR make this charming home your own! *THIS HOME QUALIFIES FOR UP TO 100% FINANCING WITH NO PMI, AND UP TO $6000 IN GRANT FUNDS ASSITANCE through preferred lender program* Precious 3-sided brick home in New Orleans East, nestled on a large lot with ample off-street parking! Fabulous, covered patio, and paved sidewalk entry. This home features tile flooring throughout. Open floor plan living/dining room opens to galley kitchen and laundry room. Large primary bedroom with walk-in closet and ensuite with single vanity and tub/shower combo. Spacious guest bedrooms with large closets. Guest bathroom features single vanity and tub/shower combo. Fantastic, all brick rear patio perfect for entertaining. Large rear yard, fully fenced with chain link fencing. Convenient location with easy access to Chef Menteur Hwy, I-10, restaurants and shopping. No flood insurance required - but current policy of $843/yr can be assumed. Currently tenant occupied at $1500/month. A MUST SEE! Make it yours today!

16. 2026-01-29
    listed $155,000 Active 1104-char remark

    Show marketing remark (1104 chars)

    Fantastic opportunity to expand your rental portfolio (section 8 approved property with tenant in place) OR make this charming home your own! *THIS HOME QUALIFIES FOR UP TO 100% FINANCING WITH NO PMI, AND UP TO $6000 IN GRANT FUNDS ASSITANCE through preferred lender program* Precious 3-sided brick home in New Orleans East, nestled on a large lot with ample off-street parking! Fabulous, covered patio, and paved sidewalk entry. This home features tile flooring throughout. Open floor plan living/dining room opens to galley kitchen and laundry room. Large primary bedroom with walk-in closet and ensuite with single vanity and tub/shower combo. Spacious guest bedrooms with large closets. Guest bathroom features single vanity and tub/shower combo. Fantastic, all brick rear patio perfect for entertaining. Large rear yard, fully fenced with chain link fencing. Convenient location with easy access to Chef Menteur Hwy, I-10, restaurants and shopping. No flood insurance required - but current policy of $843/yr can be assumed. Currently tenant occupied at $1500/month. A MUST SEE! Make it yours today!

17. 2026-01-05
    historical $1,500
18. 2025-12-16
    listed $1,500
19. 2024-11-17
    historical $1,500
20. 2024-10-08
    listed $1,500
21. 2010-02-26
    soldstatus $30,000
22. 2009-06-30
    listed $39,900
23. 2009-06-30
    listed $39,900
24. 1993-03-31
    soldstatus $61,000

ⓘ 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: $1,157 · $96/mo
• Projected year-2 tax: $1,157 · $96/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 (shaded) · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 22 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: $17,149
• − Mortgage interest: −$8,122
• − Property taxes: −$1,157
• − Insurance: −$1,522
• − Repairs & maintenance: −$1,372
• − Management: −$1,372
• − Depreciation: −$4,218
• Taxable loss: −$615
• Est. tax savings @ 24.0%: +$148
• After-tax cash flow: $1,891/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

+154.1% since first listed

10 events — show timeline

• 2026-01-29 Listed $155,000 AcadianaMLS
• 2026-01-29 Listed $155,000 GSREIN
• 2026-01-05 Rental Removed $1,500 BUILDIUM
• 2025-12-16 Listed for Rent $1,500 BUILDIUM
• 2024-11-17 Rental Removed $1,500 BUILDIUM
• 2024-10-08 Listed for Rent $1,500 BUILDIUM
• 2010-02-26 Sold (MLS) $30,000 GSREIN
• 2009-06-30 Listed $39,900 AcadianaMLS
• 2009-06-30 Listed $39,900 GSREIN
• 1993-03-31 Sold (Public Records) $61,000 Public Records

Property tax history

-1.6%/yr

Latest (2026): $1,157 · +1.1% YoY. Source: county tax records.