2761 Orchid St · New Orleans, LA 70119

$245,750

6 bd · 4.0 ba · 2,532 sqft · MultiFamily public records · 151 Days on market

Built 1940 3,480 sqft lot $97/sqft · 15% below area ↓ 8% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

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

Listing remarks MLS

Great investment opportunity in Orleans Parish near City Park and popular local festivities, including Zulu events. Property was passed down via succession. This duplex offers two spacious units--one upstairs and one downstairs--each featuring three bedrooms and one bath. The property has updated plumbing and electrical work completed. Insulation and Sheetrock installation are still needed to finish out renovations. The upstairs unit has been demoed and is ready for further improvements. With its desirable location and strong rental potential, this property is ideal for investors seeking a project with excellent upside.

Key facts

• Desirable location
• Updated plumbing
• Spacious units

Tags

• UPDATED PLUMBING
• UPDATED ELECTRICAL WORK
• DESIRABLE LOCATION
• STRONG RENTAL POTENTIAL
• SPACIOUS UNITS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1-bath units multifamily listed at $246k.

Deal economics

• At list price, monthly cash flow is $982 ($12k/yr) — positive. Per door: $491/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $246k).
• Recommended offer: $216k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,724/mo this rent would consume 84% 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 $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 151 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $69k (22%) 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 1940 — 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 $216,260 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 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 1940 — 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: 1.52% ✓
• Cap rate: 11.41%
• Cash-on-cash: 18.28%
• DSCR: 1.81
• GRM: 5.5

CMA / ARV

• ARV (median comp): $591,025
• List price: $245,750
• Delta: -58.42%
• 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
1704 06 N Broad St	0.12mi	6/4.0	2,453 (-3%)	13mo	$479,000	$195	78
2734 36 Orchid St	0.04mi	5/2.0 (-1)	2,730 (+8%)	12mo	$655,000	$240	62
2310-12 Barracks St	0.41mi	7/4.0 (+1)	2,420 (-4%)	14mo	$585,000	$242	57
2010 12 N Dorgenois St	0.22mi	6/4.0	2,900 (+14%)	10mo	$370,000	$128	57
2310 12 Barracks St	0.41mi	6/4.0	2,330 (-8%)	14mo	$585,000	$251	56
2415 Columbus St	0.38mi	5/4.0 (-1)	2,911 (+15%)	3mo	$583,000	$200	50
1636-.5 N Miro St	0.75mi	6/5.0	2,459 (-3%)	9mo	$300,000	$122	49
1933 Bayou Rd	0.65mi	5/4.0 (-1)	2,800 (+11%)	3mo	$480,000	$171	44
938-40 Taft Pl	0.72mi	6/2.0	2,376 (-6%)	8mo	$285,000	$120	42
1715-17 N Broad St	0.57mi	6/2.0	2,778 (+10%)	12mo	$173,500	$62	40
1661 N Dupre St	0.51mi	5/3.5 (-1)	2,827 (+12%)	14mo	$515,000	$182	38
2522 24 O'reilly St	0.69mi	7/3.5 (+1)	2,866 (+13%)	9mo	$305,000	$106	31

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: 4.7%
• Equity multiple: 1.17×
• Total profit: $11,995
• Equity at exit: $36,642

10-year hold

• IRR: 10.9%
• Equity multiple: 1.72×
• Total profit: $49,647
• Equity at exit: $21,248

Cash invested: $68,810 (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: 11.0×

Monthly cashflow live

• Estimated rent: $3,724 high
• Mortgage (P&I): −$1,289
• Tax from tax record: −$503 /mo · $6,034/yr
• Insurance: −$102
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$782
• Net cashflow: $982

Break-even live

Break-even rent $2,482

Max offer price $245,750

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,724
Total (2 units)			$3,724

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: $61,438
• Closing costs: $7,372
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-06
   status Pending 627-char remark

   Show marketing remark (637 chars)

   Great investment opportunity in Orleans Parish near City Park and popular local festivities, including Zulu events. Property was passed down via succession. This duplex offers two spacious units—one upstairs and one downstairs—each featuring three bedrooms and one bath. The property has updated plumbing and electrical work completed. Insulation and Sheetrock installation are still needed to finish out renovations. The upstairs unit has been demoed and is ready for further improvements. With its desirable location and strong rental potential, this property is ideal for investors seeking a project with excellent upside.

2. 2026-05-06
   status Pending 637-char remark

   Show marketing remark (637 chars)

   Great investment opportunity in Orleans Parish near City Park and popular local festivities, including Zulu events. Property was passed down via succession. This duplex offers two spacious units—one upstairs and one downstairs—each featuring three bedrooms and one bath. The property has updated plumbing and electrical work completed. Insulation and Sheetrock installation are still needed to finish out renovations. The upstairs unit has been demoed and is ready for further improvements. With its desirable location and strong rental potential, this property is ideal for investors seeking a project with excellent upside.

3. 2026-03-25
   status Active 627-char remark

   Show marketing remark (637 chars)

   Great investment opportunity in Orleans Parish near City Park and popular local festivities, including Zulu events. Property was passed down via succession. This duplex offers two spacious units—one upstairs and one downstairs—each featuring three bedrooms and one bath. The property has updated plumbing and electrical work completed. Insulation and Sheetrock installation are still needed to finish out renovations. The upstairs unit has been demoed and is ready for further improvements. With its desirable location and strong rental potential, this property is ideal for investors seeking a project with excellent upside.

4. 2026-03-25
   price $290,000 627-char remark

   Show marketing remark (637 chars)

   Great investment opportunity in Orleans Parish near City Park and popular local festivities, including Zulu events. Property was passed down via succession. This duplex offers two spacious units—one upstairs and one downstairs—each featuring three bedrooms and one bath. The property has updated plumbing and electrical work completed. Insulation and Sheetrock installation are still needed to finish out renovations. The upstairs unit has been demoed and is ready for further improvements. With its desirable location and strong rental potential, this property is ideal for investors seeking a project with excellent upside.

5. 2026-03-25
   status Active 637-char remark

   Show marketing remark (637 chars)

   Great investment opportunity in Orleans Parish near City Park and popular local festivities, including Zulu events. Property was passed down via succession. This duplex offers two spacious units—one upstairs and one downstairs—each featuring three bedrooms and one bath. The property has updated plumbing and electrical work completed. Insulation and Sheetrock installation are still needed to finish out renovations. The upstairs unit has been demoed and is ready for further improvements. With its desirable location and strong rental potential, this property is ideal for investors seeking a project with excellent upside.

6. 2026-03-25
   price $290,000 637-char remark

   Show marketing remark (637 chars)

   Great investment opportunity in Orleans Parish near City Park and popular local festivities, including Zulu events. Property was passed down via succession. This duplex offers two spacious units—one upstairs and one downstairs—each featuring three bedrooms and one bath. The property has updated plumbing and electrical work completed. Insulation and Sheetrock installation are still needed to finish out renovations. The upstairs unit has been demoed and is ready for further improvements. With its desirable location and strong rental potential, this property is ideal for investors seeking a project with excellent upside.

7. 2026-03-10
   status Pending 627-char remark

   Show marketing remark (637 chars)

   Great investment opportunity in Orleans Parish near City Park and popular local festivities, including Zulu events. Property was passed down via succession. This duplex offers two spacious units—one upstairs and one downstairs—each featuring three bedrooms and one bath. The property has updated plumbing and electrical work completed. Insulation and Sheetrock installation are still needed to finish out renovations. The upstairs unit has been demoed and is ready for further improvements. With its desirable location and strong rental potential, this property is ideal for investors seeking a project with excellent upside.

8. 2026-03-10
   status Pending 637-char remark

   Show marketing remark (637 chars)

   Great investment opportunity in Orleans Parish near City Park and popular local festivities, including Zulu events. Property was passed down via succession. This duplex offers two spacious units—one upstairs and one downstairs—each featuring three bedrooms and one bath. The property has updated plumbing and electrical work completed. Insulation and Sheetrock installation are still needed to finish out renovations. The upstairs unit has been demoed and is ready for further improvements. With its desirable location and strong rental potential, this property is ideal for investors seeking a project with excellent upside.

9. 2026-03-04
   status Active 627-char remark

   Show marketing remark (637 chars)

   Great investment opportunity in Orleans Parish near City Park and popular local festivities, including Zulu events. Property was passed down via succession. This duplex offers two spacious units—one upstairs and one downstairs—each featuring three bedrooms and one bath. The property has updated plumbing and electrical work completed. Insulation and Sheetrock installation are still needed to finish out renovations. The upstairs unit has been demoed and is ready for further improvements. With its desirable location and strong rental potential, this property is ideal for investors seeking a project with excellent upside.

10. 2026-03-04
    status Active 637-char remark

    Show marketing remark (637 chars)

    Great investment opportunity in Orleans Parish near City Park and popular local festivities, including Zulu events. Property was passed down via succession. This duplex offers two spacious units—one upstairs and one downstairs—each featuring three bedrooms and one bath. The property has updated plumbing and electrical work completed. Insulation and Sheetrock installation are still needed to finish out renovations. The upstairs unit has been demoed and is ready for further improvements. With its desirable location and strong rental potential, this property is ideal for investors seeking a project with excellent upside.

11. 2026-02-04
    historical Active Under Contract 637-char remark

    Show marketing remark (637 chars)

    Great investment opportunity in Orleans Parish near City Park and popular local festivities, including Zulu events. Property was passed down via succession. This duplex offers two spacious units—one upstairs and one downstairs—each featuring three bedrooms and one bath. The property has updated plumbing and electrical work completed. Insulation and Sheetrock installation are still needed to finish out renovations. The upstairs unit has been demoed and is ready for further improvements. With its desirable location and strong rental potential, this property is ideal for investors seeking a project with excellent upside.

12. 2026-01-22
    status Pending 637-char remark

    Show marketing remark (637 chars)

    Great investment opportunity in Orleans Parish near City Park and popular local festivities, including Zulu events. Property was passed down via succession. This duplex offers two spacious units—one upstairs and one downstairs—each featuring three bedrooms and one bath. The property has updated plumbing and electrical work completed. Insulation and Sheetrock installation are still needed to finish out renovations. The upstairs unit has been demoed and is ready for further improvements. With its desirable location and strong rental potential, this property is ideal for investors seeking a project with excellent upside.

13. 2025-11-07
    listed $315,000 Active 627-char remark

    Show marketing remark (637 chars)

    Great investment opportunity in Orleans Parish near City Park and popular local festivities, including Zulu events. Property was passed down via succession. This duplex offers two spacious units—one upstairs and one downstairs—each featuring three bedrooms and one bath. The property has updated plumbing and electrical work completed. Insulation and Sheetrock installation are still needed to finish out renovations. The upstairs unit has been demoed and is ready for further improvements. With its desirable location and strong rental potential, this property is ideal for investors seeking a project with excellent upside.

14. 2025-11-07
    listed $315,000 Active 637-char remark

    Show marketing remark (637 chars)

    Great investment opportunity in Orleans Parish near City Park and popular local festivities, including Zulu events. Property was passed down via succession. This duplex offers two spacious units—one upstairs and one downstairs—each featuring three bedrooms and one bath. The property has updated plumbing and electrical work completed. Insulation and Sheetrock installation are still needed to finish out renovations. The upstairs unit has been demoed and is ready for further improvements. With its desirable location and strong rental potential, this property is ideal for investors seeking a project with excellent upside.

ⓘ 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: $6,034 · $503/mo
• Projected year-2 tax: $6,034 · $503/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 · 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: $44,688
• − Mortgage interest: −$13,766
• − Property taxes: −$6,034
• − Insurance: −$2,026
• − Repairs & maintenance: −$3,575
• − Management: −$3,575
• − Depreciation: −$7,149
• Taxable income: $8,563
• Est. tax owed @ 24.0%: −$2,055
• After-tax cash flow: $9,723/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): 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

-7.9% since first listed

14 events — show timeline

• 2026-05-06 Pending — AcadianaMLS
• 2026-05-06 Pending — GBRMLS
• 2026-03-25 Relisted — AcadianaMLS
• 2026-03-25 Price Changed $290,000 AcadianaMLS
• 2026-03-25 Relisted — GBRMLS
• 2026-03-25 Price Changed $290,000 GBRMLS
• 2026-03-10 Pending — AcadianaMLS
• 2026-03-10 Pending — GBRMLS
• 2026-03-04 Relisted — AcadianaMLS
• 2026-03-04 Relisted — GBRMLS
• 2026-02-04 Contingent — GBRMLS
• 2026-01-22 Pending — GBRMLS
• 2025-11-07 Listed $315,000 GBRMLS
• 2025-11-07 Listed $315,000 AcadianaMLS

Property tax history

+46.0%/yr

Latest (2026): $6,034 · +1.1% YoY. Source: county tax records.