2219-2221 Dumaine St · New Orleans, LA 70119

$310,000

6 bd · 4.0 ba · 2,433 sqft · MultiFamily · 140 Days on market

Built 1920 Good condition $127/sqft · 28% below area Est $431k · 28% under

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Why this score? — see what drove the B- 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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +6.5/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +1.6/10.0
• 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

This updated shotgun-style duplex features two well-designed units, each offering 3 bedrooms and 2 bathrooms. Recent cosmetic updates, including fresh paint, enhance the property's appeal, while consistent upkeep ensures a clean and well-maintained living environment inside and out. Ideally located walking distance to restaurants, bars, grocery stores, and popular parade routes, this property is perfectly positioned for convenience and lifestyle appeal. An excellent opportunity for investors or owner-occupants looking to live in one unit and generate rental income from the other.

Key facts

• Well designed units
• Updated duplex
• Built 1920

Tags

• UPDATED DUPLEX
• WELL DESIGNED UNITS
• RECENT COSMETIC UPDATES
• WALKING DISTANCE TO BARS
• GENERATE RENTAL INCOME

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $310k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $604 ($7k/yr) — positive. Per door: $302/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $310k).
• Recommended offer: $273k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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); 381 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,560/mo this rent would consume 80% of the median local household income ($53k/yr) (locally 3381% 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 $9k 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 ($273k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y ago; this cycle's ask has dropped $28k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• 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 $272,800 (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. 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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.15% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.26%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

• ARV (median comp): $430,571
• List price: $310,000
• Delta: -28.00%
• 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
2310-12 Barracks St	0.26mi	7/4.0 (+1)	2,420 (-0%)	14mo	$585,000	$242	70
1526 28 Governor Nicholls St	0.50mi	6/3.0	2,460 (+1%)	2mo	$350,000	$142	69
2310 12 Barracks St	0.26mi	6/4.0	2,330 (-4%)	14mo	$585,000	$251	69
1704 06 N Broad St	0.41mi	6/4.0	2,453 (+1%)	13mo	$479,000	$195	68
1908-10 St. Louis St	0.37mi	6/6.0	2,468 (+1%)	7mo	$438,000	$177	67
2108-10 Bienville St	0.45mi	6/4.0	2,458 (+1%)	14mo	$135,000	$55	66
1809 11 Laharpe St	0.59mi	6/4.0	2,503 (+3%)	8mo	$529,000	$211	61
2029 31 Conti St	0.64mi	6/6.0	2,502 (+3%)	3mo	$485,000	$194	55
2328 30 Bienville St	0.45mi	5/3.5 (-1)	2,115 (-13%)	2mo	$400,000	$189	48
2304 06 Laharpe St	0.54mi	6/3.5	2,132 (-12%)	6mo	$275,000	$129	47
1501-03 Marais St	0.75mi	6/4.0	2,680 (+10%)	6mo	$690,000	$257	43
2734 36 Orchid St	0.48mi	5/2.0 (-1)	2,730 (+12%)	12mo	$655,000	$240	34

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: -7.1%
• Equity multiple: 0.75×
• Total profit: $-22,128
• Equity at exit: $46,222

10-year hold

• IRR: -1.9%
• Equity multiple: 0.89×
• Total profit: $-9,701
• Equity at exit: $26,803

Cash invested: $86,800 (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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $3,560 high
• Mortgage (P&I): −$1,626
• Tax est. 1.5%: −$388 /mo · $4,650/yr
• Insurance: −$129
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$748
• Net cashflow: $604

Break-even live

Break-even rent $2,796

Max offer price $310,000

Occupancy floor 78%

Sensitivity live

Price	-10% $818	-5% $711	+0% $604	+5% $496	+10% $389
Rent	-10% $322	-5% $463	+0% $604	+5% $744	+10% $885
Rate	-1.0pp $760	-0.5pp $682	base $604	+0.5pp $523	+1.0pp $442

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,560
Total (2 units)			$3,560

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
822 Perdido St Unit 1272370P New Orleans, LA	1.0–5.0	1.0–5.0	1447	$7,361	$5.09	4d	4	1.30mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$8,133	$5.14	4d	2	1.33mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	24d	1	1.34mi

Listing history 24 events

1. 2026-06-18
   days on market $310,000 Active 140 DOM
2. 2026-06-17
   days on market $310,000 Active 139 DOM
3. 2026-06-16
   days on market $310,000 Active 138 DOM
4. 2026-06-15
   days on market $310,000 Active 137 DOM
5. 2026-06-13
   days on market $310,000 Active 135 DOM
6. 2026-06-10
   days on market $310,000 Active 132 DOM
7. 2026-06-09
   days on market $310,000 Active 131 DOM
8. 2026-06-08
   days on market $310,000 Active 130 DOM
9. 2026-06-07
   days on market $310,000 Active 129 DOM
10. 2026-06-05
    days on market $310,000 Active 126 DOM
11. 2026-06-03
    days on market $310,000 Active 125 DOM
12. 2026-06-02
    days on market $310,000 Active 124 DOM
13. 2026-06-01
    days on market $310,000 Active 123 DOM
14. 2026-05-31
    days on market $310,000 Active 122 DOM
15. 2026-04-18
    price $310,000 586-char remark

    Show marketing remark (592 chars)

    This updated shotgun-style duplex features two well-designed units, each offering 3 bedrooms and 2 bathrooms. Recent cosmetic updates, including fresh paint, enhance the property’s appeal, while consistent upkeep ensures a clean and well-maintained living environment inside and out. Ideally located walking distance to restaurants, bars, grocery stores, and popular parade routes, this property is perfectly positioned for convenience and lifestyle appeal. An excellent opportunity for investors or owner-occupants looking to live in one unit and generate rental income from the other.

16. 2026-04-18
    price $310,000 592-char remark

    Show marketing remark (592 chars)

    This updated shotgun-style duplex features two well-designed units, each offering 3 bedrooms and 2 bathrooms. Recent cosmetic updates, including fresh paint, enhance the property’s appeal, while consistent upkeep ensures a clean and well-maintained living environment inside and out. Ideally located walking distance to restaurants, bars, grocery stores, and popular parade routes, this property is perfectly positioned for convenience and lifestyle appeal. An excellent opportunity for investors or owner-occupants looking to live in one unit and generate rental income from the other.

17. 2026-03-13
    price $325,000 586-char remark

    Show marketing remark (592 chars)

    This updated shotgun-style duplex features two well-designed units, each offering 3 bedrooms and 2 bathrooms. Recent cosmetic updates, including fresh paint, enhance the property’s appeal, while consistent upkeep ensures a clean and well-maintained living environment inside and out. Ideally located walking distance to restaurants, bars, grocery stores, and popular parade routes, this property is perfectly positioned for convenience and lifestyle appeal. An excellent opportunity for investors or owner-occupants looking to live in one unit and generate rental income from the other.

18. 2026-03-13
    price $325,000 592-char remark

    Show marketing remark (592 chars)

    This updated shotgun-style duplex features two well-designed units, each offering 3 bedrooms and 2 bathrooms. Recent cosmetic updates, including fresh paint, enhance the property’s appeal, while consistent upkeep ensures a clean and well-maintained living environment inside and out. Ideally located walking distance to restaurants, bars, grocery stores, and popular parade routes, this property is perfectly positioned for convenience and lifestyle appeal. An excellent opportunity for investors or owner-occupants looking to live in one unit and generate rental income from the other.

19. 2026-01-29
    listed $337,500 Active 586-char remark

    Show marketing remark (592 chars)

    This updated shotgun-style duplex features two well-designed units, each offering 3 bedrooms and 2 bathrooms. Recent cosmetic updates, including fresh paint, enhance the property’s appeal, while consistent upkeep ensures a clean and well-maintained living environment inside and out. Ideally located walking distance to restaurants, bars, grocery stores, and popular parade routes, this property is perfectly positioned for convenience and lifestyle appeal. An excellent opportunity for investors or owner-occupants looking to live in one unit and generate rental income from the other.

20. 2026-01-29
    listed $337,500 Active 592-char remark

    Show marketing remark (592 chars)

    This updated shotgun-style duplex features two well-designed units, each offering 3 bedrooms and 2 bathrooms. Recent cosmetic updates, including fresh paint, enhance the property’s appeal, while consistent upkeep ensures a clean and well-maintained living environment inside and out. Ideally located walking distance to restaurants, bars, grocery stores, and popular parade routes, this property is perfectly positioned for convenience and lifestyle appeal. An excellent opportunity for investors or owner-occupants looking to live in one unit and generate rental income from the other.

21. 2011-04-28
    listed $39,900
22. 2011-03-26
    listed $55,000
23. 2006-03-02
    listed $254,000
24. 2001-06-15
    listed $80,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,720
• − Mortgage interest: −$17,365
• − Property taxes: −$4,650
• − Insurance: −$2,348
• − Repairs & maintenance: −$3,418
• − Management: −$3,418
• − Depreciation: −$9,018
• Taxable income: $2,504
• Est. tax owed @ 24.0%: −$601
• After-tax cash flow: $6,642/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This updated shotgun-style duplex features two well-designed units, each offering 3 bedrooms and 2 bathrooms. The home is in good condition with fresh paint and hardwood flooring, making it an excellent opportunity for investors or owner-occupants looking to live in one unit and generate rental income from the other.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics, attracting more buyers and renters.
• Both Updating the kitchen appliances — Modern appliances improve functionality and appeal, making the home more attractive to both buyers and renters.
• Both Upgrading the bathrooms with modern fixtures — Modern bathrooms with updated fixtures increase the home's value and appeal to a broader range of buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics, attracting more buyers and renters. ↑
• Both Updating the kitchen appliances — Modern appliances improve functionality and appeal, making the home more attractive to both buyers and renters. ↑
• Both Upgrading the bathrooms with modern fixtures — Modern bathrooms with updated fixtures increase the home's value and appeal to a broader range of buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 37,253
• Household income: $53,143
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3381.0

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 0.64)
• Race & ethnicity: Black 44% White 40% Two or more races 10% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 0%

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: ▼ -135.38%
• Current HPI: 253.1929
• Rent YoY: ▼ -0.20%
• 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

+287.5% since first listed

10 events — show timeline

• 2026-04-18 Price Changed $310,000 AcadianaMLS
• 2026-04-18 Price Changed $310,000 GSREIN
• 2026-03-13 Price Changed $325,000 AcadianaMLS
• 2026-03-13 Price Changed $325,000 GSREIN
• 2026-01-29 Listed $337,500 GSREIN
• 2026-01-29 Listed $337,500 AcadianaMLS
• 2011-04-28 Listed $39,900 AcadianaMLS
• 2011-03-26 Listed $55,000 AcadianaMLS
• 2006-03-02 Listed $254,000 AcadianaMLS
• 2001-06-15 Listed $80,000 AcadianaMLS