2032 34 Franklin Ave · New Orleans, LA 70117

$199,900

4 bd · 2.0 ba · 1,840 sqft · MultiFamily public records · 28 Days on market

Built 1980 Est $276k · 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• 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

PRICED WELL BELOW APPRAISED VALUE THIS IS VERY NICE 8TH WARD CASH COW DUPLEX THIS IS NOT A SHOTGUN STYLE DUPLEX LOCATED JUST MINS AWAY FOR THE FRENCH QUARTERS . THIS PROPERTY WOULD BE GREAT TO OWNER OCCUPY, AIRBNB OR INVESTMENT.. PRICED FOR QUICK SALE SO IT WONT LAST LONG!!! CALL FOR YOUR PRIVATE SHOWING TODAY!! OWNER AGENT

Key facts

• 3 parking spots
• Built 1980
• Listed 28 days

Property features AI

Finance

• Other: Listing modified by a human
• Financial info: Two total units (multiunit property); owner pays water while tenants pay electricity and gas
• HOA & community: HOA information not provided

Exterior

• Parking: Three or more parking spaces
• Security: Security details not specified
• Utilities: Public water; Public sewer; Electricity and gas supplied (tenant responsible for payments in multiunit)
• Home design: Brick property; 2 stories; Very good condition; Flat roof; Slab foundation
• Construction: Brick construction; Flat roof; Slab foundation; Built date not specified
• Exterior features: Balcony; City lot; Oversized lot; Lot dimensions approximately 28 x 120

Interior

• Kitchen: Kitchen details not specified
• Bedrooms: Bedrooms not specified
• Flooring: Flooring details not specified
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating with dual system; Central air conditioning
• Interior features: Total of 5 rooms; Two-unit building (duplex)
• Laundry & utility: Tenant pays electricity and gas; owner pays water

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $505/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.8% 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; 40 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).
• At $2,998/mo this rent would consume 79% 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 $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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 $60k; list at $200k implies a 233% 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 $196,901 (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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.50% ✓
• Cap rate: 12.75%
• Cash-on-cash: 23.07%
• DSCR: 2.03
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $276,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2517 N Miro St	0.13mi	4/2.0	1,857 (+1%)	7mo	$50,000	$27	86
1805 07 St Roch Ave	0.28mi	4/2.0	1,914 (+4%)	1mo	$290,000	$152	79
3129 31 N Claiborne Ave	0.59mi	4/2.0	1,806 (-2%)	3mo	$267,150	$148	67
2105 07 Arts St	0.10mi	4/3.0	1,598 (-13%)	3mo	$265,000	$166	67
1727 29 Marigny St	0.49mi	4/2.0	1,716 (-7%)	1mo	$285,000	$166	65
2211 13 Mandeville St	0.38mi	4/2.0	1,644 (-11%)	2mo	$195,000	$119	62
1734 Spain St	0.39mi	5/3.0 (+1)	1,985 (+8%)	1mo	$100,000	$50	59
1537-1539 Louisa St	0.67mi	4/2.0	1,778 (-3%)	6mo	$329,000	$185	58
2038 Elysian Fields Ave	0.56mi	4/3.0	1,704 (-7%)	7mo	$240,000	$141	52
2421 Feliciana St	0.52mi	4/2.0	1,572 (-15%)	2mo	$113,900	$72	50
2008 10 Frenchmen St	0.62mi	4/4.0	1,942 (+6%)	6mo	$380,000	$196	49
2814 St Claude Ave	0.74mi	4/2.0	2,000 (+9%)	10mo	$300,000	$150	42

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: 13.7%
• Equity multiple: 1.54×
• Total profit: $30,420
• Equity at exit: $29,806

10-year hold

• IRR: 22.1%
• Equity multiple: 2.84×
• Total profit: $103,211
• Equity at exit: $17,284

Cash invested: $55,972 (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: 11.1×

Monthly cashflow live

• Estimated rent: $2,998 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$161 /mo · $1,927/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $1,010

Break-even live

Break-even rent $1,720

Max offer price $199,900

Occupancy floor 61%

Sensitivity live

Price	-10% $1,123	-5% $1,066	+0% $1,010	+5% $953	+10% $897
Rent	-10% $773	-5% $891	+0% $1,010	+5% $1,128	+10% $1,247
Rate	-1.0pp $1,110	-0.5pp $1,061	base $1,010	+0.5pp $958	+1.0pp $905

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,998
Total (2 units)			$2,998

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2228 Arts St New Orleans, LA	3.0	2.0	2270	$1,675	$0.74	4d	1	0.17mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	24d	1	0.36mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	24d	1	0.49mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	4d	1	0.50mi
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	24d	1	0.50mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	16d	1	0.60mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	4d	1	0.61mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	24d	1	0.66mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	24d	1	0.69mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	44d	1	0.72mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	24d	1	0.76mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	24d	1	0.77mi
5624-5626 Saint Claude ST New Orleans, LA	4.0	3.0	1521	$2,300	$1.51	24d	1	0.78mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	44d	1	0.80mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	24d	1	0.80mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.81mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.81mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	24d	1	0.82mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	4d	2	0.85mi
2320 N Rampart St New Orleans, LA	3.0	3.0	2317	$3,700	$1.60	44d	1	0.87mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	22d	1	0.88mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	24d	1	0.91mi
2322 Burgundy St Unit C New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	24d	1	0.93mi
2739 Bay St Unit B New Orleans, LA	4.0	2.0	1400	$1,800	$1.29	21d	1	1.00mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	24d	1	1.01mi
2509 Sage St New Orleans, LA	3.0	1.0	1250	$1,650	$1.32	22d	1	1.03mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	44d	1	1.04mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.04mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	1.04mi
632 Mandeville St Unit 2B New Orleans, LA	4.0	4.5	1337	$4,500	$3.37	17d	1	1.05mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	1.05mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	16d	1	1.06mi
2644 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	17d	1	1.07mi
2646 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	17d	1	1.07mi
3540 Clermont Dr New Orleans, LA	3.0	2.0	1248	$1,975	$1.58	24d	1	1.09mi
2647 Myrtle St Unit 2647 New Orleans, LA	4.0	2.0	1445	$2,550	$1.76	44d	1	1.14mi
3302 Metropolitan St New Orleans, LA	4.0	2.5	1700	$2,200	$1.29	17d	1	1.14mi
1217 Kerlerec St Unit B New Orleans, LA	3.0	1.0	1300	$2,100	$1.62	4d	1	1.19mi
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	1.19mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	3d	1	1.20mi

Listing history 24 events

1. 2026-06-18
   days on market $199,900 Active 28 DOM
2. 2026-06-17
   days on market $199,900 Active 27 DOM
3. 2026-06-16
   days on market $199,900 Active 26 DOM
4. 2026-06-15
   days on market $199,900 Active 25 DOM
5. 2026-06-13
   days on market $199,900 Active 23 DOM
6. 2026-06-10
   days on market $199,900 Active 20 DOM
7. 2026-06-09
   days on market $199,900 Active 19 DOM
8. 2026-06-08
   days on market $199,900 Active 18 DOM
9. 2026-06-07
   days on market $199,900 Active 17 DOM
10. 2026-06-05
    days on market $199,900 Active 14 DOM
11. 2026-06-03
    days on market $199,900 Active 13 DOM
12. 2026-06-02
    days on market $199,900 Active 12 DOM
13. 2026-06-01
    days on market $199,900 Active 11 DOM
14. 2026-06-01
    price $199,900 Active 10 DOM
15. 2026-05-31
    days on market $209,000 Active 10 DOM
16. 2026-05-22
    price $209,000 325-char remark

    Show marketing remark (325 chars)

    PRICED WELL BELOW APPRAISED VALUE THIS IS VERY NICE 8TH WARD CASH COW DUPLEX THIS IS NOT A SHOTGUN STYLE DUPLEX LOCATED JUST MINS AWAY FOR THE FRENCH QUARTERS . THIS PROPERTY WOULD BE GREAT TO OWNER OCCUPY, AIRBNB OR INVESTMENT.. PRICED FOR QUICK SALE SO IT WONT LAST LONG!!! CALL FOR YOUR PRIVATE SHOWING TODAY!! OWNER AGENT

17. 2026-05-22
    price $209,000

    Show marketing remark (325 chars)

    PRICED WELL BELOW APPRAISED VALUE THIS IS VERY NICE 8TH WARD CASH COW DUPLEX THIS IS NOT A SHOTGUN STYLE DUPLEX LOCATED JUST MINS AWAY FOR THE FRENCH QUARTERS . THIS PROPERTY WOULD BE GREAT TO OWNER OCCUPY, AIRBNB OR INVESTMENT.. PRICED FOR QUICK SALE SO IT WONT LAST LONG!!! CALL FOR YOUR PRIVATE SHOWING TODAY!! OWNER AGENT

18. 2026-05-21
    listed $199,900 Active 325-char remark

    Show marketing remark (325 chars)

    PRICED WELL BELOW APPRAISED VALUE THIS IS VERY NICE 8TH WARD CASH COW DUPLEX THIS IS NOT A SHOTGUN STYLE DUPLEX LOCATED JUST MINS AWAY FOR THE FRENCH QUARTERS . THIS PROPERTY WOULD BE GREAT TO OWNER OCCUPY, AIRBNB OR INVESTMENT.. PRICED FOR QUICK SALE SO IT WONT LAST LONG!!! CALL FOR YOUR PRIVATE SHOWING TODAY!! OWNER AGENT

19. 2026-05-21
    listed $199,900 Active

    Show marketing remark (325 chars)

    PRICED WELL BELOW APPRAISED VALUE THIS IS VERY NICE 8TH WARD CASH COW DUPLEX THIS IS NOT A SHOTGUN STYLE DUPLEX LOCATED JUST MINS AWAY FOR THE FRENCH QUARTERS . THIS PROPERTY WOULD BE GREAT TO OWNER OCCUPY, AIRBNB OR INVESTMENT.. PRICED FOR QUICK SALE SO IT WONT LAST LONG!!! CALL FOR YOUR PRIVATE SHOWING TODAY!! OWNER AGENT

20. 2023-08-09
    price $219,900
21. 2023-06-21
    listed $219,900
22. 2022-11-18
    listed $219,900
23. 2020-11-03
    listed $249,000
24. 2007-06-05
    soldstatus $60,000

ⓘ 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: $1,927 · $161/mo
• Projected year-2 tax: $1,927 · $161/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) · 74% 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: $35,976
• − Mortgage interest: −$11,198
• − Property taxes: −$1,927
• − Insurance: −$1,797
• − Repairs & maintenance: −$2,878
• − Management: −$2,878
• − Depreciation: −$5,815
• Taxable income: $9,483
• Est. tax owed @ 24.0%: −$2,276
• After-tax cash flow: $9,841/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

+248.3% since first listed

9 events — show timeline

• 2026-05-22 Price Changed $209,000 AcadianaMLS
• 2026-05-22 Price Changed $209,000 GSREIN
• 2026-05-21 Listed $199,900 GSREIN
• 2026-05-21 Listed $199,900 AcadianaMLS
• 2023-08-09 Price Changed $219,900 GSREIN
• 2023-06-21 Listed $219,900 AcadianaMLS
• 2022-11-18 Listed $219,900 AcadianaMLS
• 2020-11-03 Listed $249,000 AcadianaMLS
• 2007-06-05 Sold (Public Records) $60,000 Public Records

Property tax history

+7.3%/yr

Latest (2026): $1,927 · +1.1% YoY. Source: county tax records.