2118 24 S Saratoga St · New Orleans, LA 70113

$299,000

4 bd · 2.0 ba · 1,416 sqft · MultiFamily public records · 27 Days on market

Built 1956 7,562 sqft lot Est $200k · 50% over

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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
• Appreciation +10.0/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks MLS

Calling all investors! Don't miss this opportunity to own twin Uptown duplexes on two lots for a total of four separate units! Property is being sold as a package. There are two separate duplexes, 2118-20 S Saratoga and 2122-24 S Saratoga, for a total of four doors. If buyer wants the properties to be subdivided as separate properties, buyer will have to go to the Assessor's Office and have the properties separated into two parcel numbers. Each property is 2 units with 1 bedroom, 1 bonus room (that could be used as a second bedroom), and 1 bathroom. Large backyard. Lot is 126' deep. Great Uptown location. This property a ton of potential! This property is part of a larger portfolio of several multi-family properties in the surrounding area that can be sold together.

Key facts

• Two lots
• Four separate units
• Twin uptown duplexes

Tags

• TWIN UPTOWN DUPLEXES
• LARGE BACKYARD
• FOUR SEPARATE UNITS
• TWO LOTS

Property features AI

Finance

• Financial info: Property contains 4 total units

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story building; Raised foundation; Shingle roof
• Construction: Raised foundation
• Exterior features: City lot; Oversized lot; Lot dimensions approximately 60' x 126'

Interior

• Bedrooms: 4 total units (unit numbers include 2124 and 2120)
• Bathrooms: 2 full bathrooms (building total)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Average condition
• Laundry & utility: Laundry located inside units

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $509/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $299k).
• Recommended offer: $295k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.7% 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 fast (+6.0%/yr); 137 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); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 6.0% rent growth), your $84k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 32y 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 $52k; list at $299k implies a 475% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1956 — 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 $294,515 (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 1956 — 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: 1.71% ✓
• Cap rate: 14.73%
• Cash-on-cash: 30.12%
• DSCR: 2.34
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $199,656
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2114 16 Josephine St	0.04mi	4/2.0	1,407 (-1%)	16mo	$299,000	$213	84
2223 25 Felicity St	0.25mi	4/2.0	1,465 (+4%)	9mo	$155,000	$106	75
2620-22 Philip St	0.39mi	4/2.0	1,472 (+4%)	8mo	$159,000	$108	68
1809 11 Third St	0.34mi	4/2.0	1,585 (+12%)	1mo	$260,000	$164	63
2113 15 S Liberty St	0.16mi	4/2.0	1,624 (+15%)	10mo	$228,500	$141	59
2809 11 Third St	0.54mi	4/2.0	1,404 (-1%)	23mo	$80,000	$57	55
718 20 Fourth St	0.35mi	4/2.0	1,596 (+13%)	13mo	$270,000	$169	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 5.98% rent growth · sell at horizon

5-year hold

• IRR: 48.2%
• Equity multiple: 4.68×
• Total profit: $308,264
• Equity at exit: $269,363

10-year hold

• IRR: 43.2%
• Equity multiple: 11.06×
• Total profit: $842,083
• Equity at exit: $580,891

Cash invested: $83,720 (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 70113

• Rents YoY: 6.0%
• Active inventory: 137
• Price-to-rent: 19.5×

Monthly cashflow live

• Estimated rent: $5,113 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$245 /mo · $2,946/yr
• Insurance: −$125
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,074
• Net cashflow: $2,035

Break-even live

Break-even rent $2,537

Max offer price $299,000

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$5,112
Total (4 units)			$5,113

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1944 Jackson Ave New Orleans, LA	3.0	2.5	1572	$2,500	$1.59	43d	1	0.02mi
2102 Josephine St New Orleans, LA	4.0	2.0	1286	$2,100	$1.63	23d	1	0.07mi
2119 Josephine St New Orleans, LA	3.0	1.0	1017	$950	$0.93	21d	1	0.10mi
1915 Philip St New Orleans, LA	3.0	1.5	1300	$2,450	$1.88	23d	1	0.11mi
2032 Saint Andrew St New Orleans, LA	3.0	2.0	1035	$1,830	$1.77	17d	1	0.13mi
2403 S Saratoga St New Orleans, LA	3.0	2.5	1600	$2,500	$1.56	23d	1	0.14mi
2123 S Liberty St Unit 2125 New Orleans, LA	3.0	2.0	1500	$2,100	$1.40	3d	1	0.18mi
2231 S Liberty St New Orleans, LA	3.0	3.5	1752	$2,000	$1.14	17d	1	0.18mi
2225 2nd St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	23d	1	0.20mi
2107 Fourth St New Orleans, LA	3.0	1.0	1292	$1,775	$1.37	17d	1	0.29mi
1614 Rev John Raphael Jr Way New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	23d	1	0.31mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1250	$2,300	$1.84	2d	1	0.34mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1232	$2,300	$1.87	23d	1	0.34mi
2318 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1400	$1,700	$1.21	23d	1	0.36mi
2733 Danneel St New Orleans, LA	4.0	2.0	1350	$1,775	$1.31	23d	1	0.36mi
2713 Baronne St New Orleans, LA	3.0	2.5	1600	$2,300	$1.44	23d	1	0.38mi
2526 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1200	$2,200	$1.83	3d	1	0.43mi
2722 Martin L King Bl New Orleans, LA	3.0	2.5	1350	$1,800	$1.33	23d	1	0.51mi
1407 Magnolia St New Orleans, LA	3.0	2.0	1824	$1,500	$0.82	23d	1	0.53mi
2931 Baronne St New Orleans, LA	3.0	1.0	1145	$1,510	$1.32	23d	1	0.55mi
1525 Melpomene St Unit Na New Orleans, LA	3.0	1.5	1700	$4,000	$2.35	43d	1	0.57mi
1306 Felicity St Unit C New Orleans, LA	3.0	3.0	1500	$2,450	$1.63	17d	1	0.61mi
1204 Saint Andrew St Unit 1204 New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	23d	1	0.66mi
1410 6th St New Orleans, LA	3.0	2.0	1400	$5,000	$3.57	16d	1	0.70mi
1501 Clio St Unit 1A New Orleans, LA	3.0	2.0	1200	$2,800	$2.33	11d	1	0.71mi
822 Howard Ave Unit 1272354P New Orleans, LA	1.0–5.0	1.0–4.0	1749	$9,250	$5.29	1d	3	0.72mi
3108 Second St New Orleans, LA	3.0	3.0	1216	$2,100	$1.73	3d	1	0.73mi
2628 S Derbigny St New Orleans, LA	3.0	1.0	900	$1,500	$1.67	3d	1	0.73mi
3120 Second St New Orleans, LA	3.0	3.0	1256	$2,050	$1.63	23d	1	0.74mi
3122 2nd St New Orleans, LA	3.0	3.0	1206	$2,075	$1.72	23d	1	0.75mi
2341 S Roman St Unit U New Orleans, LA	3.0	2.0	1000	$1,850	$1.85	23d	1	0.77mi
3429 Baronne St New Orleans, LA	3.0	2.5	1600	$2,500	$1.56	43d	1	0.78mi
2608 Magazine St New Orleans, LA	3.0	2.0	1844	$3,100	$1.68	43d	1	0.79mi
2628 Magazine St New Orleans, LA	3.0	2.0	1400	$2,650	$1.89	17d	1	0.80mi
2539 Amelia St New Orleans, LA	3.0	2.0	1296	$2,200	$1.70	23d	1	0.80mi
3435 Magnolia St New Orleans, LA	3.0	1.0	1050	$1,500	$1.43	23d	1	0.80mi
2833 S Derbigny St New Orleans, LA	3.0	2.0	1500	$1,795	$1.20	23d	1	0.82mi
803 Baronne St New Orleans, LA	3.0	2.0	1791	$3,525	$1.97	3d	1	0.82mi
2232 Amelia St New Orleans, LA	3.0	2.0	900	$1,800	$2.00	17d	1	0.82mi
3429 Clara St New Orleans, LA	3.0	2.0	1620	$2,350	$1.45	14d	1	0.82mi

Listing history 20 events

1. 2026-06-18
   days on market $299,000 Active 27 DOM
2. 2026-06-17
   days on market $299,000 Active 26 DOM
3. 2026-06-16
   days on market $299,000 Active 25 DOM
4. 2026-06-15
   days on market $299,000 Active 24 DOM
5. 2026-06-13
   days on market $299,000 Active 22 DOM
6. 2026-06-10
   days on market $299,000 Active 19 DOM
7. 2026-06-09
   days on market $299,000 Active 18 DOM
8. 2026-06-08
   days on market $299,000 Active 17 DOM
9. 2026-06-07
   days on market $299,000 Active 16 DOM
10. 2026-06-05
    days on market $299,000 Active 13 DOM
11. 2026-06-03
    days on market $299,000 Active 12 DOM
12. 2026-06-02
    days on market $299,000 Active 11 DOM
13. 2026-06-01
    days on market $299,000 Active 10 DOM
14. 2026-05-31
    days on market $299,000 Active 9 DOM
15. 2026-05-22
    listed $299,000 Active

    Show marketing remark (776 chars)

    Calling all investors! Don't miss this opportunity to own twin Uptown duplexes on two lots for a total of four separate units! Property is being sold as a package. There are two separate duplexes, 2118-20 S Saratoga and 2122-24 S Saratoga, for a total of four doors. If buyer wants the properties to be subdivided as separate properties, buyer will have to go to the Assessor's Office and have the properties separated into two parcel numbers. Each property is 2 units with 1 bedroom, 1 bonus room (that could be used as a second bedroom), and 1 bathroom. Large backyard. Lot is 126' deep. Great Uptown location. This property a ton of potential! This property is part of a larger portfolio of several multi-family properties in the surrounding area that can be sold together.

16. 2026-05-22
    listed $299,000 Active 776-char remark

    Show marketing remark (776 chars)

    Calling all investors! Don't miss this opportunity to own twin Uptown duplexes on two lots for a total of four separate units! Property is being sold as a package. There are two separate duplexes, 2118-20 S Saratoga and 2122-24 S Saratoga, for a total of four doors. If buyer wants the properties to be subdivided as separate properties, buyer will have to go to the Assessor's Office and have the properties separated into two parcel numbers. Each property is 2 units with 1 bedroom, 1 bonus room (that could be used as a second bedroom), and 1 bathroom. Large backyard. Lot is 126' deep. Great Uptown location. This property a ton of potential! This property is part of a larger portfolio of several multi-family properties in the surrounding area that can be sold together.

17. 1996-07-03
    soldstatus $52,000
18. 1995-05-01
    soldstatus $8,800
19. 1994-10-04
    listed $20,000
20. 1994-10-04
    listed $20,000

ⓘ 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: $2,946 · $245/mo
• Projected year-2 tax: $2,946 · $245/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 · 74% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $61,356
• − Mortgage interest: −$16,749
• − Property taxes: −$2,946
• − Insurance: −$2,292
• − Repairs & maintenance: −$4,908
• − Management: −$4,908
• − Depreciation: −$8,698
• Taxable income: $20,854
• Est. tax owed @ 24.0%: −$5,005
• After-tax cash flow: $19,412/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): 9,387
• Household income: $39,333
• Rent vs Own: 75.4% rent · 24.6% own
• Severe rent burden: 714.0

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 0.57)
• Race & ethnicity: Black 61% White 20% Hispanic / Latino 13% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 2% Portuguese 1% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1% Vietnamese 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: ▲ 65.92%
• Current HPI: 229.3968
• Rent YoY: ▲ 5.98%
• 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

+1395.0% since first listed

6 events — show timeline

• 2026-05-22 Listed $299,000 AcadianaMLS
• 2026-05-22 Listed $299,000 GSREIN
• 1996-07-03 Sold (Public Records) $52,000 Public Records
• 1995-05-01 Sold (MLS) $8,800 GSREIN
• 1994-10-04 Listed $20,000 AcadianaMLS
• 1994-10-04 Listed $20,000 GSREIN

Property tax history

+8.2%/yr

Latest (2026): $2,946 · +1.1% YoY. Source: county tax records.