704-06 Tricou St · New Orleans, LA 70117

$185,000

4 bd · 2.0 ba · 1,556 sqft · MultiFamily public records · 15 Days on market

Built 1960 4,928 sqft lot Est $159k · 17% 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 +9.8/10.0
• 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

What an opportunity to live in the happening Holy Cross area & have your note practically paid with the rental income! This 2 Bed 1 Bath renovated shotgun double boasts wood floors, high ceilings, large living room & nice sized yard. Each unit has its own driveway & inside laundry. A MUST SEE!

Key facts

• Extra-wide lot
• Two separate units
• Individually metered

Tags

• SHOTGUN-STYLE DOUBLE
• TWO SEPARATE UNITS
• INDIVIDUALLY METERED
• OWN LAUNDRY
• EXTRA-WIDE LOT
• TWO SEPARATE DRIVEWAYS

Property features AI

Exterior

• Home design: Duplex; 2 total units
• Construction: Wood siding; Composition roof
• Exterior features: Porch

Interior

• Heating & cooling: Central heating; Window Unit(s) for cooling
• Interior features: Central heating; Window air conditioning units

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $925 ($11k/yr) — positive. Per door: $463/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $182k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.7% 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; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,745/mo this rent would consume 72% 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 $1k of loan paydown is wiped out by about $6k 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 $52k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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 $144k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $182,225 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1960 — 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. 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: 1.48% ✓
• Cap rate: 12.72%
• Cash-on-cash: 22.97%
• DSCR: 2.02
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $158,712
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1001 3 Gordon St	0.27mi	4/2.0	1,580 (+2%)	22mo	$170,000	$108	66
5721 23 Royal St	0.27mi	4/2.0	1,508 (-3%)	20mo	$150,000	$99	66
5717 19 Royal St	0.28mi	4/2.0	1,716 (+10%)	14mo	$175,000	$102	58
5450-52 Burgundy St	0.49mi	4/2.0	1,471 (-6%)	23mo	$185,000	$126	49
5445 47 Burgundy St	0.50mi	4/2.0	1,392 (-10%)	22mo	$133,000	$96	41
5445-47 Burgundy St	0.50mi	4/—	1,392 (-10%)	22mo	$133,000	$96	41
5406 Urquhart St	0.67mi	4/2.0	1,368 (-12%)	12mo	$90,000	$66	39
5443 45 Douglas St	0.50mi	3/2.0 (-1)	1,770 (+14%)	14mo	$210,000	$119	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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: 13.4%
• Equity multiple: 1.53×
• Total profit: $27,564
• Equity at exit: $27,584

10-year hold

• IRR: 21.9%
• Equity multiple: 2.82×
• Total profit: $94,264
• Equity at exit: $15,995

Cash invested: $51,800 (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: 11.2×

Monthly cashflow live

• Estimated rent: $2,745 high
• Mortgage (P&I): −$970
• Tax from tax record: −$130 /mo · $1,556/yr
• Insurance: −$77
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $925

Break-even live

Break-even rent $1,574

Max offer price $185,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,030	-5% $978	+0% $925	+5% $873	+10% $820
Rent	-10% $708	-5% $817	+0% $925	+5% $1,034	+10% $1,142
Rate	-1.0pp $1,018	-0.5pp $972	base $925	+0.5pp $877	+1.0pp $828

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,744
Total (2 units)			$2,745

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6038 N Rampart St New Orleans, LA	3.0	2.0	1080	$1,795	$1.66	24d	1	0.19mi
1201 Gordon St New Orleans, LA	3.0	2.5	1367	$1,900	$1.39	17d	1	0.36mi
6900 Royal St Arabi, LA	3.0	2.0	1579	$5,888	$3.73	3d	1	0.42mi
906 Flood St New Orleans, LA	3.0	3.0	1174	$1,700	$1.45	2d	1	0.47mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	4d	1	0.51mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1178	$1,600	$1.36	24d	1	0.51mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	3d	1	0.51mi
1333 Angela Ave Arabi, LA	3.0	2.0	1090	$1,850	$1.70	3d	1	0.51mi
438 Friscoville Ave Arabi, LA	3.0	2.0	1500	$3,200	$2.13	3d	1	0.52mi
5461 Saint Claude Ave New Orleans, LA	4.0	2.0	1250	$2,350	$1.88	24d	1	0.54mi
5459 Saint Claude Ave Unit 5461 New Orleans, LA	4.0	2.0	1454	$2,350	$1.62	24d	1	0.54mi
1314 Lamanche St New Orleans, LA	4.0	1.0	1300	$2,100	$1.62	16d	1	0.54mi
1327 Fats Domino Ave Unit B New Orleans, LA	4.0	2.0	1200	$2,200	$1.83	16d	1	0.58mi
1327 Fats Domino Ave Unit A New Orleans, LA	3.0	2.0	1200	$1,900	$1.58	4d	1	0.58mi
1019 Center St Arabi, LA	5.0	3.0	1973	$5,888	$2.98	2d	1	0.69mi
1714 Tricou St New Orleans, LA	3.0	2.0	1271	$1,900	$1.49	24d	1	0.70mi
617 Forstall St New Orleans, LA	3.0	2.0	1262	$2,200	$1.74	4d	1	0.71mi
1422 Andry St New Orleans, LA	3.0	2.0	1100	$1,400	$1.27	4d	1	0.76mi
619 Reynes St New Orleans, LA	3.0	2.0	1318	$2,100	$1.59	16d	1	0.77mi
1239 Center St Arabi, LA	4.0	2.0	1922	$3,500	$1.82	3d	1	0.80mi
1824 Saint Maurice Ave New Orleans, LA	4.0	2.0	1500	$1,500	$1.00	24d	1	0.81mi
1901 Tupelo St New Orleans, LA	3.0	2.5	1568	$2,300	$1.47	4d	1	0.83mi
1925 Alabo St Unit A New Orleans, LA	3.0	2.0	1199	$1,500	$1.25	22d	1	0.88mi
2012 Esteban St Arabi, LA	3.0	2.0	1466	$2,500	$1.71	11d	1	0.99mi
1511 Schnell Dr Arabi, LA	4.0	3.0	1700	$1,850	$1.09	4d	1	1.01mi
1529 Schnell Dr Arabi, LA	3.0	2.5	1736	$2,600	$1.50	2d	1	1.07mi
5618 N Tonti St New Orleans, LA	3.0	2.0	1128	$1,550	$1.37	24d	1	1.18mi
2301 Esteban St Arabi, LA	3.0	1.0	1102	$1,800	$1.63	15d	1	1.18mi
310 Lynx Dr Arabi, LA	3.0	2.0	1050	$1,775	$1.69	24d	1	1.18mi
309 Fawn Dr Arabi, LA	3.0	2.5	1745	$2,500	$1.43	2d	1	1.26mi
7532 Patricia St Arabi, LA	4.0	3.0	2099	$2,200	$1.05	44d	1	1.27mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	3d	1	1.28mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	2d	1	1.28mi
2539 Fats Domino Ave New Orleans, LA	3.0	2.0	1184	$1,850	$1.56	21d	1	1.40mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	24d	1	1.44mi
103 Danny Dr New Orleans, LA	4.0	2.0	2040	$2,400	$1.18	24d	1	1.45mi
424 Chinchilla Dr Arabi, LA	3.0	2.0	1735	$3,500	$2.02	16d	1	1.45mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	12d	1	1.48mi
4318 1/2 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	3d	1	1.48mi
4318 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	4d	1	1.48mi

Listing history 6 events

1. 2026-04-30
   status Pending
2. 2026-04-15
   listed $185,000 Active
3. 2015-05-19
   soldstatus $144,000
4. 2014-10-27
   listed $149,900 306-char remark

   Show marketing remark (306 chars)

   What an opportunity to live in the happening Holy Cross area & have your note practically paid with the rental income! This 2 Bed 1 Bath renovated shotgun double boasts wood floors, high ceilings, large living room & nice sized yard. Each unit has its own driveway & inside laundry. A MUST SEE!

5. 2008-01-22
   soldstatus $86,825
6. 1982-09-14
   soldstatus $30,000

ⓘ 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: $1,556 · $130/mo
• Projected year-2 tax: $1,556 · $130/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 ≥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: $32,940
• − Mortgage interest: −$10,363
• − Property taxes: −$1,556
• − Insurance: −$1,722
• − Repairs & maintenance: −$2,635
• − Management: −$2,635
• − Depreciation: −$5,382
• Taxable income: $8,646
• Est. tax owed @ 24.0%: −$2,075
• After-tax cash flow: $9,027/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

+516.7% since first listed

6 events — show timeline

• 2026-04-30 Pending — AcadianaMLS
• 2026-04-15 Listed $185,000 AcadianaMLS
• 2015-05-19 Sold (Public Records) $144,000 Public Records
• 2014-10-27 Listed $149,900 AcadianaMLS
• 2008-01-22 Sold (Public Records) $86,825 Public Records
• 1982-09-14 Sold (Public Records) $30,000 Public Records

Property tax history

+19.1%/yr

Latest (2026): $1,556 · +1.1% YoY. Source: county tax records.