4020 N Claiborne Ave · New Orleans, LA 70117

$320,000

10 bd · 4.0 ba · 2,544 sqft · MultiFamily public records · 41 Days on market

Built 2009 7,200 sqft lot $126/sqft · 23% above area Est $260k · 23% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

***$5,000.00 SELLER CREDIT AVAILABLE WITH FULL PRICE OFFER***Duplex investment opportunity with strong, stable cash flow offering a solid chance to own an income-producing property with consistent rental performance! Each unit features five bedrooms and two bathrooms with a spacious layout that attracts strong tenant demand and supports long-term occupancy. Highlights include reliable rental income, simple ownership structure with tenants covering most utilities, and a well-maintained property that keeps operating costs down. The property also offers generous interior space, flexible layouts, in-unit laundry hook-ups, and off-street parking. Conveniently located along a central New Orleans corridor with access to major transit routes, schools, shopping, and surrounding neighborhoods, this property is well suited for investors looking for steady performance and long-term upside or a turnkey addition to an existing portfolio.

Key facts

• Off street parking
• 7,200 sq ft lot
• Parking

Tags

• DUPLEX INVESTMENT OPPORTUNITY
• INCOME PRODUCING PROPERTY
• IN UNIT LAUNDRY HOOK UPS
• OFF STREET PARKING
• CENTRAL NEW ORLEANS CORRIDOR
• ACCESS TO MAJOR TRANSIT ROUTES

Property features AI

Finance

• Financial info: 2-unit property; Unit A actual rent: $1,800; Unit B actual rent: $1,700; Tenants pay electricity; owner pays water

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: 2-story building; Raised foundation; Frame construction with HardiPlank siding; Asphalt roof
• Construction: Built with frame and HardiPlank materials; Raised foundation; Asphalt roof
• Exterior features: Porch; City lot with rectangular shape (approx. 40 x 180)

Interior

• Bedrooms: Unit A: 5 bedrooms; Unit B: 5 bedrooms
• Bathrooms: Unit A: 2 full bathrooms; Unit B: 2 full bathrooms; Total full bathrooms (property): 4
• Heating & cooling: Central heating; Central air; Ductless cooling options; Wall-mounted air units
• Interior features: Porch

What this means for you Summary

Snapshot

• This is a 2 × 5-bed/2.0-bath units multifamily listed at $320k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $565/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $320k).
• Recommended offer: $310k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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 rising (+2.5%/yr); 581 active listings in the ZIP; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $4,163/mo this rent would consume 109% of the median local household income ($46k/yr) (locally 1988% 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 $10k 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.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $90k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y 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 $170k; list at $320k implies a 88% 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 $310,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.30% ✓
• Cap rate: 10.78%
• Cash-on-cash: 16.03%
• DSCR: 1.71
• GRM: 6.4

CMA / ARV

• ARV (median comp): $259,900
• List price: $320,000
• Delta: 23.12%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.49% rent growth · sell at horizon

5-year hold

• IRR: 5.2%
• Equity multiple: 1.20×
• Total profit: $18,057
• Equity at exit: $47,713

10-year hold

• IRR: 14.2%
• Equity multiple: 2.12×
• Total profit: $99,932
• Equity at exit: $27,668

Cash invested: $89,600 (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 70117

• Rents YoY: 2.5%
• Active inventory: 581
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $4,163 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$280 /mo · $3,364/yr
• Insurance: −$133
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$874
• Net cashflow: $1,131

Break-even live

Break-even rent $2,732

Max offer price $320,000

Occupancy floor 68%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	5	2	$4,162
Total (2 units)			$4,163

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-18
   days on market $320,000 Active 41 DOM
2. 2026-06-17
   days on market $320,000 Active 40 DOM
3. 2026-06-16
   days on market $320,000 Active 39 DOM
4. 2026-06-15
   days on market $320,000 Active 38 DOM
5. 2026-06-13
   days on market $320,000 Active 36 DOM
6. 2026-06-10
   days on market $320,000 Active 33 DOM
7. 2026-06-09
   days on market $320,000 Active 32 DOM
8. 2026-06-08
   days on market $320,000 Active 31 DOM
9. 2026-06-07
   days on market $320,000 Active 30 DOM
10. 2026-06-05
    days on market $320,000 Active 27 DOM
11. 2026-06-03
    days on market $320,000 Active 26 DOM
12. 2026-06-02
    days on market $320,000 Active 25 DOM
13. 2026-06-01
    days on market $320,000 Active 24 DOM
14. 2026-05-31
    days on market $320,000 Active 23 DOM
15. 2026-05-08
    listed $320,000 Active 876-char remark

    Show marketing remark (937 chars)

    ***$5,000.00 SELLER CREDIT AVAILABLE WITH FULL PRICE OFFER***Duplex investment opportunity with strong, stable cash flow offering a solid chance to own an income-producing property with consistent rental performance! Each unit features five bedrooms and two bathrooms with a spacious layout that attracts strong tenant demand and supports long-term occupancy. Highlights include reliable rental income, simple ownership structure with tenants covering most utilities, and a well-maintained property that keeps operating costs down. The property also offers generous interior space, flexible layouts, in-unit laundry hook-ups, and off-street parking. Conveniently located along a central New Orleans corridor with access to major transit routes, schools, shopping, and surrounding neighborhoods, this property is well suited for investors looking for steady performance and long-term upside or a turnkey addition to an existing portfolio.

16. 2026-05-08
    listed $320,000 Active 876-char remark

    Show marketing remark (937 chars)

    ***$5,000.00 SELLER CREDIT AVAILABLE WITH FULL PRICE OFFER***Duplex investment opportunity with strong, stable cash flow offering a solid chance to own an income-producing property with consistent rental performance! Each unit features five bedrooms and two bathrooms with a spacious layout that attracts strong tenant demand and supports long-term occupancy. Highlights include reliable rental income, simple ownership structure with tenants covering most utilities, and a well-maintained property that keeps operating costs down. The property also offers generous interior space, flexible layouts, in-unit laundry hook-ups, and off-street parking. Conveniently located along a central New Orleans corridor with access to major transit routes, schools, shopping, and surrounding neighborhoods, this property is well suited for investors looking for steady performance and long-term upside or a turnkey addition to an existing portfolio.

17. 2025-11-25
    price $299,000
18. 2025-11-25
    price $299,000
19. 2025-09-29
    price $310,000
20. 2025-09-29
    price $310,000
21. 2025-07-15
    price $313,000
22. 2025-07-15
    price $313,000
23. 2025-05-27
    listed $315,000 Active
24. 2023-12-12
    price $313,000
25. 2023-10-13
    price $319,000
26. 2023-09-22
    price $326,000
27. 2023-08-12
    price $339,000
28. 2023-07-10
    listed $313,000
29. 2018-12-28
    soldstatus $170,000
30. 2018-12-27
    soldstatus $170,000 Closed
31. 2018-12-17
    status Pending
32. 2018-11-09
    historical Pending Continue to Show
33. 2018-10-18
    price $176,000
34. 2018-08-01
    listed $176,000
35. 2018-08-01
    listed $196,000 Active

ⓘ 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: $3,364 · $280/mo
• Projected year-2 tax: $3,364 · $280/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 3/10 Moderate
• 🌡 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,956
• − Mortgage interest: −$17,925
• − Property taxes: −$3,364
• − Insurance: −$2,398
• − Repairs & maintenance: −$3,996
• − Management: −$3,996
• − Depreciation: −$9,309
• Taxable income: $8,968
• Est. tax owed @ 24.0%: −$2,152
• After-tax cash flow: $11,414/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): 25,652
• Household income: $45,764
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1988.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 30% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 5% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 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: ▼ -177.22%
• Current HPI: 184.6061
• Rent YoY: ▲ 2.49%
• 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

+81.8% since first listed

21 events — show timeline

• 2026-05-08 Listed $320,000 GSREIN
• 2026-05-08 Listed $320,000 AcadianaMLS
• 2025-11-25 Price Changed $299,000 AcadianaMLS
• 2025-11-25 Price Changed $299,000 GSREIN
• 2025-09-29 Price Changed $310,000 AcadianaMLS
• 2025-09-29 Price Changed $310,000 GSREIN
• 2025-07-15 Price Changed $313,000 AcadianaMLS
• 2025-07-15 Price Changed $313,000 GSREIN
• 2025-05-27 Listed $315,000 AcadianaMLS
• 2023-12-12 Price Changed $313,000 GSREIN
• 2023-10-13 Price Changed $319,000 GSREIN
• 2023-09-22 Price Changed $326,000 GSREIN
• 2023-08-12 Price Changed $339,000 GSREIN
• 2023-07-10 Listed $313,000 AcadianaMLS
• 2018-12-28 Sold (Public Records) $170,000 Public Records
• 2018-12-27 Sold (MLS) $170,000 GSREIN
• 2018-12-17 Pending — GSREIN
• 2018-11-09 Contingent — GSREIN
• 2018-10-18 Price Changed $176,000 GSREIN
• 2018-08-01 Listed $196,000 GSREIN
• 2018-08-01 Listed $176,000 AcadianaMLS

Property tax history

+0.5%/yr

Latest (2026): $3,364 · +1.1% YoY. Source: county tax records.