2390 Beck St · New Orleans, LA 70131

$240,000

4 bd · 2.5 ba · 2,366 sqft · SingleFamily public records · 58 Days on market

Built 1983 $101/sqft · 14% below area Est $279k · 14% 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 +20.1/30.0
• ARV discount +13.9/15.0
• DSCR +6.4/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Rent growth +0.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

<BR><BR> Exterior includes a large backyard, covered patio, and detached garage with ample storage. Property offers a solid layout and is ready for your personal touches.<BR><BR> X FLOOD ZONE<BR><BR>

Key facts

• Large den
• Large backyard
• Covered patio

Tags

• LARGE DEN
• SEPARATE LIVING ROOM
• LARGE BACKYARD
• COVERED PATIO
• DETACHED GARAGE
• SOLID LAYOUT

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $231 ($3k/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 $227k (5.3% below list).
• Recommended offer: $227k (5.3% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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 falling (-9.2%/yr); 274 active listings in the ZIP; 12 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 44% of the median local income ($62k/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 $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 58 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; list at $240k implies a 118% 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 $227,379 (5.3% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
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: 0.95% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.30%
• DSCR: 1.24
• GRM: 8.8

CMA / ARV

• ARV (median comp): $279,442
• List price: $240,000
• Delta: -14.11%
• 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
2709 Comet St	0.19mi	3/3.0 (-1)	2,310 (-2%)	3mo	$249,500	$108	77
2020 Easter Ln	0.40mi	4/2.5	2,417 (+2%)	2mo	$124,900	$52	76
2336 Holiday Dr	0.27mi	3/2.5 (-1)	2,417 (+2%)	3mo	$299,900	$124	76
2147 Holiday Dr	0.36mi	4/2.0	2,298 (-3%)	3mo	$275,000	$120	74
2000 Easter Ln	0.42mi	4/2.0	2,209 (-7%)	5mo	$300,000	$136	63
2529 Hudson Pl	0.60mi	4/2.5	2,232 (-6%)	0mo	$240,000	$108	62
2638 Gallinghouse St	0.10mi	3/2.0 (-1)	2,021 (-15%)	3mo	$200,000	$99	62
9 Park Timbers Dr	0.72mi	4/2.5	2,242 (-5%)	1mo	$375,000	$167	57
3030 Hudson Pl	0.72mi	3/2.0 (-1)	2,412 (+2%)	2mo	$150,000	$62	54
2513 Eton St	0.74mi	4/2.0	2,210 (-7%)	4mo	$132,000	$60	49
2133 Ellen Park Pl	0.54mi	3/2.5 (-1)	2,018 (-15%)	0mo	$186,000	$92	45
2744 Somerset Dr	0.57mi	5/2.0 (+1)	2,678 (+13%)	0mo	$120,000	$45	44

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: -13.1%
• Equity multiple: 0.54×
• Total profit: $-30,889
• Equity at exit: $35,785

10-year hold

• IRR: -9.4%
• Equity multiple: 0.50×
• Total profit: $-33,829
• Equity at exit: $20,751

Cash invested: $67,200 (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 70131

• Home prices YoY: -12.0%
• Rents YoY: -9.2%
• Active inventory: 274
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,274 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$141 /mo · $1,688/yr
• Insurance: −$100
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $231

Break-even live

Break-even rent $1,982

Max offer price $240,000

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1410 Kabel Dr New Orleans, LA	3.0	2.0	2200	$2,200	$1.00	23d	1	0.13mi
2001 Saint Nick Dr New Orleans, LA	4.0	2.5	2400	$2,300	$0.96	23d	1	0.34mi
103 Danny Dr New Orleans, LA	4.0	2.0	2040	$2,400	$1.18	23d	1	0.56mi
2741 Chelsea Dr New Orleans, LA	4.0	2.5	2382	$2,500	$1.05	16d	1	0.76mi
3511 Hyman Pl New Orleans, LA	3.0	2.0	1975	$2,700	$1.37	1d	1	0.76mi
3441 Catalina Dr New Orleans, LA	5.0	2.0	1610	$2,450	$1.52	11d	1	0.78mi
5801 Albany Ct New Orleans, LA	4.0	2.5	2160	$2,000	$0.93	23d	1	0.88mi
21 Carriage Ln New Orleans, LA	3.0	2.5	1900	$2,000	$1.05	21d	1	0.93mi
3751 Herald St New Orleans, LA	4.0	2.0	1624	$2,150	$1.32	23d	1	1.00mi
1825 Murl St New Orleans, LA	3.0	2.0	2484	$1,750	$0.70	23d	1	1.06mi
3738 Somerset Dr New Orleans, LA	4.0	2.0	2247	$3,000	$1.34	14d	1	1.10mi
6021 Brighton Pl New Orleans, LA	4.0	3.0	1840	$3,100	$1.68	16d	1	1.19mi

Listing history 19 events

1. 2026-06-18
   days on market $240,000 Active 58 DOM
2. 2026-06-17
   days on market $240,000 Active 57 DOM
3. 2026-06-16
   days on market $240,000 Active 56 DOM
4. 2026-06-15
   days on market $240,000 Active 55 DOM
5. 2026-06-13
   pricedays on market $240,000 Active 53 DOM
6. 2026-06-10
   days on market $250,000 Active 50 DOM
7. 2026-06-09
   days on market $250,000 Active 49 DOM
8. 2026-06-08
   days on market $250,000 Active 48 DOM
9. 2026-06-07
   days on market $250,000 Active 47 DOM
10. 2026-06-05
    days on market $250,000 Active 44 DOM
11. 2026-06-03
    days on market $250,000 Active 43 DOM
12. 2026-06-02
    days on market $250,000 Active 42 DOM
13. 2026-06-01
    days on market $250,000 Active 41 DOM
14. 2026-05-31
    days on market $250,000 Active 40 DOM
15. 2026-05-14
    price $250,000 199-char remark

    Show marketing remark (496 chars)

    Spacious 4 bed, 2.5 bath home in Walnut Bend Subdivision. Features brand new carpet, stainless steel appliances, large den and separate living room offering ample space for entertaining and everyday living. Primary Bedroom has large walk in closet and large primary bathroom. Fourth bedroom can also be used as office. Exterior includes a large backyard, covered patio, and detached garage with ample storage. Property offers a solid layout and is ready for your personal touches. X FLOOD ZONE

16. 2026-05-14
    price $250,000 496-char remark

    Show marketing remark (496 chars)

    Spacious 4 bed, 2.5 bath home in Walnut Bend Subdivision. Features brand new carpet, stainless steel appliances, large den and separate living room offering ample space for entertaining and everyday living. Primary Bedroom has large walk in closet and large primary bathroom. Fourth bedroom can also be used as office. Exterior includes a large backyard, covered patio, and detached garage with ample storage. Property offers a solid layout and is ready for your personal touches. X FLOOD ZONE

17. 2026-04-21
    listed $260,000 Active 199-char remark

    Show marketing remark (496 chars)

    Spacious 4 bed, 2.5 bath home in Walnut Bend Subdivision. Features brand new carpet, stainless steel appliances, large den and separate living room offering ample space for entertaining and everyday living. Primary Bedroom has large walk in closet and large primary bathroom. Fourth bedroom can also be used as office. Exterior includes a large backyard, covered patio, and detached garage with ample storage. Property offers a solid layout and is ready for your personal touches. X FLOOD ZONE

18. 2026-04-21
    listed $260,000 Active 496-char remark

    Show marketing remark (496 chars)

    Spacious 4 bed, 2.5 bath home in Walnut Bend Subdivision. Features brand new carpet, stainless steel appliances, large den and separate living room offering ample space for entertaining and everyday living. Primary Bedroom has large walk in closet and large primary bathroom. Fourth bedroom can also be used as office. Exterior includes a large backyard, covered patio, and detached garage with ample storage. Property offers a solid layout and is ready for your personal touches. X FLOOD ZONE

19. 1986-07-11
    soldstatus $110,000

ⓘ 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: $1,688 · $141/mo
• Projected year-2 tax: $1,688 · $141/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 ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,285
• − Mortgage interest: −$13,444
• − Property taxes: −$1,688
• − Insurance: −$1,997
• − Repairs & maintenance: −$2,183
• − Management: −$2,183
• − Depreciation: −$6,982
• Taxable loss: −$1,191
• Est. tax savings @ 24.0%: +$286
• After-tax cash flow: $3,053/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): 25,151
• Household income: $62,389
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 707.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 62% White 20% Hispanic / Latino 11% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Dominican 2%
• Common ancestry: Lithuanian 4% Hispanic 1%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 9% Vietnamese 2% 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: ▼ -28.08%
• Current HPI: 206.7552
• Rent YoY: ▼ -9.23%
• 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

+127.3% since first listed

5 events — show timeline

• 2026-05-14 Price Changed $250,000 AcadianaMLS
• 2026-05-14 Price Changed $250,000 GSREIN
• 2026-04-21 Listed $260,000 GSREIN
• 2026-04-21 Listed $260,000 AcadianaMLS
• 1986-07-11 Sold (Public Records) $110,000 Public Records

Property tax history

+1.4%/yr

Latest (2026): $1,688 · -6.0% YoY. Source: county tax records.