2012 14 Congress St · New Orleans, LA 70117

$209,900

4 bd · 2.0 ba · 1,464 sqft · MultiFamily public records · 647 Days on market

Built 1940 3,314 sqft lot $143/sqft · 12% below area Est $247k · 15% 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 +29.3/30.0
• ARV discount +14.3/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

TURNKEY INCOME PRODUCING DOUBLE IN THE LONGSTANDING ST CLAUDE & MUSICIANS' VILLAGE NEIGHBORHOOD. TWO 2B1B UNITS, BLOCKS FROM CLAIBORNE AVE, MINUTES FROM FRENCH QUARTER, MARIGNY, BYWATER, LOWER 9TH, HOLY CROSS. DON'T MISS OUT ON THIS GREAT OPPORTUNITY. BOTH UNITS ARE OCCUPIED BY TENANTS ON MONTH-TO-MONTH LEASES.

Key facts

• Income producing
• Upper ninth ward
• 3,314 sq ft lot

Tags

• INCOME PRODUCING
• UPPER NINTH WARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $210k.

Deal economics

• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $185k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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); 587 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,653/mo this rent would consume 70% 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 $59k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 647 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $50k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $140k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 647 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: 1.26% ✓
• Cap rate: 10.53%
• Cash-on-cash: 15.13%
• DSCR: 1.67
• GRM: 6.6

CMA / ARV

• ARV (median comp): $247,083
• List price: $209,900
• Delta: -15.05%
• 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
2336 38 Louisa St	0.34mi	4/2.0	1,404 (-4%)	8mo	$214,900	$153	71
2326 28 Desire St	0.27mi	4/2.0	1,376 (-6%)	11mo	$130,000	$94	68
3705-07 N Galvez St	0.10mi	5/2.0 (+1)	1,530 (+4%)	19mo	$238,000	$156	67
1428 30 Pauline St	0.43mi	4/2.0	1,488 (+2%)	15mo	$80,000	$54	65
2421 Feliciana St	0.48mi	4/2.0	1,572 (+7%)	2mo	$113,900	$72	64
4113 N Claiborne Ave	0.44mi	4/2.0	1,500 (+2%)	15mo	$70,000	$47	63
3601 N Claiborne St	0.30mi	4/3.0	1,547 (+6%)	11mo	$212,000	$137	63
1413 15 Gallier St	0.44mi	4/2.0	1,488 (+2%)	21mo	$218,500	$147	59
1405-07 Bartholomew St	0.51mi	4/2.0	1,400 (-4%)	20mo	$225,000	$161	53
3025 27 Laussat Pl	0.62mi	3/2.0 (-1)	1,570 (+7%)	14mo	$137,500	$88	42
1420 22 Louisa St	0.48mi	4/2.0	1,650 (+13%)	18mo	$70,000	$42	41
2421 Port St	0.69mi	4/4.0	1,344 (-8%)	7mo	$40,000	$30	40

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: 3.4%
• Equity multiple: 1.13×
• Total profit: $7,612
• Equity at exit: $31,297

10-year hold

• IRR: 12.4%
• Equity multiple: 1.96×
• Total profit: $56,532
• Equity at exit: $18,148

Cash invested: $58,772 (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: 587
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $2,653 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$167 /mo · $2,001/yr
• Insurance: −$87
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $674

Break-even live

Break-even rent $1,799

Max offer price $209,900

Occupancy floor 70%

Sensitivity live

Price	-10% $793	-5% $734	+0% $674	+5% $615	+10% $556
Rent	-10% $465	-5% $570	+0% $674	+5% $779	+10% $884
Rate	-1.0pp $780	-0.5pp $728	base $674	+0.5pp $620	+1.0pp $565

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,654
Total (2 units)			$2,653

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	25d	1	0.03mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	25d	1	0.12mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	4d	1	0.14mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	4d	1	0.14mi
1904 Desire St New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	11d	1	0.14mi
1942 Piety St New Orleans, LA	3.0	1.0	1100	$1,500	$1.36	25d	1	0.18mi
1822 Piety St New Orleans, LA	3.0	1.5	1200	$1,500	$1.25	17d	1	0.23mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	17d	1	0.24mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	4d	1	0.24mi
1628 Bartholomew St New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	25d	1	0.34mi
4217 N Johnson St New Orleans, LA	3.0	2.0	904	$1,650	$1.83	25d	1	0.36mi
4222 N Johnson St New Orleans, LA	3.0	2.0	1100	$1,895	$1.72	25d	1	0.37mi
5624-5626 Saint Claude ST New Orleans, LA	4.0	3.0	1521	$2,300	$1.51	25d	1	0.40mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	25d	1	0.41mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	17d	1	0.41mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	22d	1	0.41mi
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	25d	1	0.44mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	25d	1	0.50mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	0.51mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	0.51mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	0.52mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	25d	1	0.57mi
4318 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	4d	1	0.59mi
4318 1/2 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	4d	1	0.59mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	13d	1	0.61mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	25d	1	0.67mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	45d	1	0.68mi
2003 Almonaster Ave New Orleans, LA	3.0	2.0	988	$1,600	$1.62	25d	1	0.69mi
4021 St Claude Ave New Orleans, LA	4.0	2.0	1016	$1,275	$1.25	4d	1	0.70mi
1924 Painters St New Orleans, LA	3.0	1.0	920	$1,700	$1.85	4d	1	0.82mi
1922 Painters St New Orleans, LA	3.0	1.0	920	$1,700	$1.85	4d	1	0.83mi
2519 N Derbigny St New Orleans, LA	3.0	1.0	994	$1,300	$1.31	22d	1	0.83mi
2524 N Galvez St New Orleans, LA	3.0	2.5	1102	$1,800	$1.63	18d	1	0.86mi
2522 N Galvez St New Orleans, LA	3.0	2.0	1105	$1,675	$1.52	25d	1	0.86mi
1226 Port St New Orleans, LA	3.0	1.0	1023	$1,650	$1.61	25d	1	0.87mi
2515 N Galvez St Unit 2515 New Orleans, LA	4.0	2.0	1200	$1,900	$1.58	25d	1	0.88mi
2515 N Galvez St New Orleans, LA	4.0	2.0	1200	$1,200	$1.00	11d	1	0.88mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	17d	1	0.93mi
1636 Music St New Orleans, LA	3.0	1.0	900	$1,185	$1.32	17d	1	0.95mi
882 Montegut St New Orleans, LA	1.0–3.0	1.0–2.0	826	$2,575	$3.12	45d	7	0.96mi

Listing history 16 events

1. 2026-05-31
   days on market $209,900 Active 647 DOM
2. 2026-04-03
   price $209,900 318-char remark

   Show marketing remark (318 chars)

   TURNKEY INCOME PRODUCING DOUBLE IN THE LONGSTANDING ST CLAUDE & MUSICIANS' VILLAGE NEIGHBORHOOD. TWO 2B1B UNITS, BLOCKS FROM CLAIBORNE AVE, MINUTES FROM FRENCH QUARTER, MARIGNY, BYWATER, LOWER 9TH, HOLY CROSS. DON'T MISS OUT ON THIS GREAT OPPORTUNITY. BOTH UNITS ARE OCCUPIED BY TENANTS ON MONTH-TO-MONTH LEASES.

3. 2026-03-31
   price $210,000 318-char remark

   Show marketing remark (318 chars)

   TURNKEY INCOME PRODUCING DOUBLE IN THE LONGSTANDING ST CLAUDE & MUSICIANS' VILLAGE NEIGHBORHOOD. TWO 2B1B UNITS, BLOCKS FROM CLAIBORNE AVE, MINUTES FROM FRENCH QUARTER, MARIGNY, BYWATER, LOWER 9TH, HOLY CROSS. DON'T MISS OUT ON THIS GREAT OPPORTUNITY. BOTH UNITS ARE OCCUPIED BY TENANTS ON MONTH-TO-MONTH LEASES.

4. 2025-03-27
   price $216,000 318-char remark

   Show marketing remark (318 chars)

   TURNKEY INCOME PRODUCING DOUBLE IN THE LONGSTANDING ST CLAUDE & MUSICIANS' VILLAGE NEIGHBORHOOD. TWO 2B1B UNITS, BLOCKS FROM CLAIBORNE AVE, MINUTES FROM FRENCH QUARTER, MARIGNY, BYWATER, LOWER 9TH, HOLY CROSS. DON'T MISS OUT ON THIS GREAT OPPORTUNITY. BOTH UNITS ARE OCCUPIED BY TENANTS ON MONTH-TO-MONTH LEASES.

5. 2024-09-23
   price $240,000 318-char remark

   Show marketing remark (318 chars)

   TURNKEY INCOME PRODUCING DOUBLE IN THE LONGSTANDING ST CLAUDE & MUSICIANS' VILLAGE NEIGHBORHOOD. TWO 2B1B UNITS, BLOCKS FROM CLAIBORNE AVE, MINUTES FROM FRENCH QUARTER, MARIGNY, BYWATER, LOWER 9TH, HOLY CROSS. DON'T MISS OUT ON THIS GREAT OPPORTUNITY. BOTH UNITS ARE OCCUPIED BY TENANTS ON MONTH-TO-MONTH LEASES.

6. 2024-08-22
   listed $260,000 Active 318-char remark

   Show marketing remark (318 chars)

   TURNKEY INCOME PRODUCING DOUBLE IN THE LONGSTANDING ST CLAUDE & MUSICIANS' VILLAGE NEIGHBORHOOD. TWO 2B1B UNITS, BLOCKS FROM CLAIBORNE AVE, MINUTES FROM FRENCH QUARTER, MARIGNY, BYWATER, LOWER 9TH, HOLY CROSS. DON'T MISS OUT ON THIS GREAT OPPORTUNITY. BOTH UNITS ARE OCCUPIED BY TENANTS ON MONTH-TO-MONTH LEASES.

7. 2024-01-21
   historical $1,110
8. 2024-01-11
   price $1,110
9. 2023-12-30
   listed $1,150
10. 2023-07-18
    historical $1,100
11. 2023-07-11
    price $1,100
12. 2020-02-26
    soldstatus $140,000
13. 2020-02-21
    soldstatus $140,000 Closed 348-char remark

    Show marketing remark (348 chars)

    Looking for a solid return on your investment? Check out this income producing double in the Upper Ninth Ward! One side has been very well maintained by the long-term tenant for the last 4 years. The other side is vacant, and ready to be fixed up for an owner/occupant; or, to be rented out for a profit. Don't miss out on this great opportunity!

14. 2020-01-03
    status Pending 348-char remark

    Show marketing remark (348 chars)

    Looking for a solid return on your investment? Check out this income producing double in the Upper Ninth Ward! One side has been very well maintained by the long-term tenant for the last 4 years. The other side is vacant, and ready to be fixed up for an owner/occupant; or, to be rented out for a profit. Don't miss out on this great opportunity!

15. 2019-12-13
    listed $143,000 Active 348-char remark

    Show marketing remark (348 chars)

    Looking for a solid return on your investment? Check out this income producing double in the Upper Ninth Ward! One side has been very well maintained by the long-term tenant for the last 4 years. The other side is vacant, and ready to be fixed up for an owner/occupant; or, to be rented out for a profit. Don't miss out on this great opportunity!

16. 2011-11-07
    soldstatus $30,000

ⓘ 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: $2,001 · $167/mo
• Projected year-2 tax: $2,001 · $167/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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $31,836
• − Mortgage interest: −$11,758
• − Property taxes: −$2,001
• − Insurance: −$1,847
• − Repairs & maintenance: −$2,547
• − Management: −$2,547
• − Depreciation: −$6,106
• Taxable income: $5,031
• Est. tax owed @ 24.0%: −$1,207
• After-tax cash flow: $6,886/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

+599.7% since first listed

15 events — show timeline

• 2026-04-03 Price Changed $209,900 GSREIN
• 2026-03-31 Price Changed $210,000 GSREIN
• 2025-03-27 Price Changed $216,000 GSREIN
• 2024-09-23 Price Changed $240,000 GSREIN
• 2024-08-22 Listed $260,000 GSREIN
• 2024-01-21 Rental Removed $1,110 TURBOTENANT
• 2024-01-11 Price Changed $1,110 TURBOTENANT
• 2023-12-30 Listed for Rent $1,150 TURBOTENANT
• 2023-07-18 Rental Removed $1,100 GSREIN
• 2023-07-11 Price Changed $1,100 GSREIN
• 2020-02-26 Sold (Public Records) $140,000 Public Records
• 2020-02-21 Sold (MLS) $140,000 GSREIN
• 2020-01-03 Pending — GSREIN
• 2019-12-13 Listed $143,000 GSREIN
• 2011-11-07 Sold (Public Records) $30,000 Public Records

Property tax history

+26.9%/yr

Latest (2026): $2,001 · +1.1% YoY. Source: county tax records.