312 14 S Norman C Francis Pkwy · New Orleans, LA 70119

$425,000

5 bd · 5.0 ba · 2,184 sqft · MultiFamily public records · 162 Days on market

Built 1940 $195/sqft · 16% above area Est $409k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +5.8/15.0
• 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 (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Excellent investment opportunity in the heart of Mid City! This fully occupied multifamily property features 5 income-producing units generating a total of $3,900 per month. With long-term tenants in place, this property offers immediate and stable cash flow. Centrally located just minutes from the interstate, downtown, and the streetcar line, it offers unbeatable convenience and accessibility for residents. Whether you’re a seasoned investor or looking to start your portfolio, this turnkey property is a solid addition with strong rental history and consistent occupancy. Don’t miss this rare chance to own in one of the city’s most connected neighborhoods! Neighboring properties also available. The listing broker is also part owner of the seller corporation.

Key facts

• Consistent occupancy
• Stable cash flow
• Centrally located

Tags

• INCOME PRODUCING UNITS
• STABLE CASH FLOW
• STRONG RENTAL HISTORY
• CONSISTENT OCCUPANCY
• CENTRALLY LOCATED

What this means for you Summary

Snapshot

• This is a 5-bed/5.0-bath multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $425k).
• Recommended offer: $374k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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; 10 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 $6,030/mo this rent would consume 136% 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 $3k of loan paydown is wiped out by about $13k 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 162 days — a 12% lower offer ($374k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $374,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.42% ✓
• Cap rate: 11.97%
• Cash-on-cash: 20.26%
• DSCR: 1.90
• GRM: 5.9

CMA / ARV

• ARV (median comp): $409,455
• List price: $425,000
• Delta: 3.80%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3101 03 Cleveland Ave	0.19mi	6/4.0 (+1)	2,300 (+5%)	5mo	$335,000	$146	69
332 34 S Clark St	0.11mi	6/2.0 (+1)	2,275 (+4%)	3mo	$225,600	$99	69
3521 23 Cleveland Ave	0.19mi	5/3.0	2,280 (+4%)	11mo	$437,500	$192	67
129-31 N Genois St	0.31mi	4/2.0 (-1)	2,159 (-1%)	1mo	$325,000	$151	66
633 35 S Dupre St	0.37mi	4/3.5 (-1)	2,000 (-8%)	0mo	$461,600	$231	58
118 S Norman C Francis Pkwy	0.13mi	6/2.0 (+1)	1,936 (-11%)	1mo	$175,000	$90	57
229 31 S Norman C. Francis Pkwy	0.09mi	4/2.0 (-1)	1,978 (-9%)	10mo	$280,000	$142	55
312 S Cortez St	0.29mi	5/3.5	2,509 (+15%)	2mo	$576,000	$230	54
2755 Banks St	0.38mi	4/4.0 (-1)	1,920 (-12%)	5mo	$285,000	$148	49
2622 24 Palmyra St	0.54mi	6/2.0 (+1)	2,100 (-4%)	6mo	$212,000	$101	46
4024 26 Baudin St	0.51mi	4/2.0 (-1)	1,890 (-14%)	4mo	$290,000	$153	33
2912 14 St. Peter St	0.64mi	4/2.0 (-1)	1,912 (-12%)	2mo	$290,000	$152	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: 3.3%
• Equity multiple: 1.12×
• Total profit: $14,516
• Equity at exit: $63,369

10-year hold

• IRR: 9.6%
• Equity multiple: 1.63×
• Total profit: $75,140
• Equity at exit: $36,746

Cash invested: $119,000 (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: 29.4×

Monthly cashflow live

• Estimated rent: $6,030 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$348 /mo · $4,181/yr
• Insurance: −$177
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,266
• Net cashflow: $1,583

Break-even live

Break-even rent $4,026

Max offer price $425,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$6,030
Total (5 units)			$6,030

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
426 S Lopez St New Orleans, LA	4.0	3.0	1400	$2,300	$1.64	23d	1	0.19mi
2738 Bienville St New Orleans, LA	4.0	3.0	1671	$2,200	$1.32	23d	1	0.49mi
4600 S Carrollton Ave Unit 2B New Orleans, LA	4.0	2.0	2097	$2,850	$1.36	23d	1	0.53mi
326 S Dorgenois St Unit 326 New Orleans, LA	4.0	3.0	1510	$2,300	$1.52	2d	1	0.60mi
2651 Poydras St New Orleans, LA	1.0–4.0	1.0–2.0	1095	$2,545	$2.32	1d	16	0.65mi
2731 Saint Philip St Unit 2733 New Orleans, LA	4.0	2.0	2000	$2,600	$1.30	23d	1	0.90mi
4901 Iberville St New Orleans, LA	4.0	2.5	2256	$3,500	$1.55	43d	1	1.20mi
7922 Colapissa St New Orleans, LA	4.0	2.0	1848	$2,400	$1.30	10d	1	1.27mi
301 City Park Ave New Orleans, LA	4.0	2.0	1550	$2,000	$1.29	14d	1	1.32mi
2117 S Lopez St New Orleans, LA	5.0	2.0	1920	$2,000	$1.04	23d	1	1.44mi

Listing history 18 events

1. 2026-06-18
   days on market $425,000 Active 162 DOM
2. 2026-06-17
   days on market $425,000 Active 161 DOM
3. 2026-06-16
   days on market $425,000 Active 160 DOM
4. 2026-06-15
   days on market $425,000 Active 159 DOM
5. 2026-06-13
   days on market $425,000 Active 157 DOM
6. 2026-06-10
   days on market $425,000 Active 154 DOM
7. 2026-06-09
   days on market $425,000 Active 153 DOM
8. 2026-06-08
   days on market $425,000 Active 152 DOM
9. 2026-06-07
   days on market $425,000 Active 151 DOM
10. 2026-06-05
    days on market $425,000 Active 148 DOM
11. 2026-06-03
    days on market $425,000 Active 147 DOM
12. 2026-06-02
    days on market $425,000 Active 146 DOM
13. 2026-06-01
    days on market $425,000 Active 145 DOM
14. 2026-05-31
    days on market $425,000 Active 144 DOM
15. 2026-01-07
    listed $425,000 Active 785-char remark

    Show marketing remark (766 chars)

    Excellent investment opportunity in the heart of Mid City! This fully occupied multifamily property features 5 income-producing units generating a total of $3,900 per month. With long-term tenants in place, this property offers immediate and stable cash flow. Centrally located just minutes from the interstate, downtown, and the streetcar line, it offers unbeatable convenience and accessibility for residents. Whether you're a seasoned investor or looking to start your portfolio, this turnkey property is a solid addition with strong rental history and consistent occupancy. Don't miss this rare chance to own in one of the city's most connected neighborhoods! Neighboring properties also available.The listing broker is also part owner of the seller corporation.

16. 2026-01-07
    listed $425,000 Active 766-char remark

    Show marketing remark (766 chars)

    Excellent investment opportunity in the heart of Mid City! This fully occupied multifamily property features 5 income-producing units generating a total of $3,900 per month. With long-term tenants in place, this property offers immediate and stable cash flow. Centrally located just minutes from the interstate, downtown, and the streetcar line, it offers unbeatable convenience and accessibility for residents. Whether you're a seasoned investor or looking to start your portfolio, this turnkey property is a solid addition with strong rental history and consistent occupancy. Don't miss this rare chance to own in one of the city's most connected neighborhoods! Neighboring properties also available.The listing broker is also part owner of the seller corporation.

17. 2025-04-29
    listed $425,000 Active
18. 2001-01-01
    soldstatus $11,007,900

ⓘ 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: $4,181 · $348/mo
• Projected year-2 tax: $4,181 · $348/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 AE · 78% 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: $72,360
• − Mortgage interest: −$23,807
• − Property taxes: −$4,181
• − Insurance: −$7,244
• − Repairs & maintenance: −$5,789
• − Management: −$5,789
• − Depreciation: −$12,364
• Taxable income: $13,187
• Est. tax owed @ 24.0%: −$3,165
• After-tax cash flow: $15,830/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

-96.1% since first listed

4 events — show timeline

• 2026-01-07 Listed $425,000 AcadianaMLS
• 2026-01-07 Listed $425,000 GSREIN
• 2025-04-29 Listed $425,000 AcadianaMLS
• 2001-01-01 Sold (Public Records) $11,007,900 Public Records

Property tax history

+1.8%/yr

Latest (2026): $4,181 · +1.0% YoY. Source: county tax records.