1941 Port St · New Orleans, LA 70117

$109,000

4 bd · 2.0 ba · 1,735 sqft · MultiFamily public records · 66 Days on market

Built 1960 3,179 sqft lot $63/sqft · 51% below area

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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 +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

Duplex on a corner lot located at 1941-43 Port Street in New Orleans, offering a great opportunity for both investors and owner-occupants. One unit is currently leased for $1,100/month, providing immediate income, while the second unit is vacant and ready for updates--allowing for value-add potential or owner occupancy. Property features separate utilities with 2 electric and 2 water meters for added convenience. A covered garage provides off-street parking or additional storage. Whether you're looking to live in one unit and rent the other, or renovate and maximize rental potential, this property offers flexibility and upside at an attractive price point.

Key facts

• Separate utilities
• Covered garage
• Off-street parking

Tags

• CORNER LOT
• SEPARATE UTILITIES
• COVERED GARAGE
• OFF-STREET PARKING

🏷️ Possibly a rental listed for sale. The $109,000 price doesn't fit this home's estimated sale value (~$221,064) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $109k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $694/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $109k).
• Recommended offer: $102k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.3% 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 $2,921/mo this rent would consume 77% 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 $754 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $109k implies a 432% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $102,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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.
10. 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.
11. 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: 2.68% ✓
• Cap rate: 22.31%
• Cash-on-cash: 57.22%
• DSCR: 3.55
• GRM: 3.1

CMA / ARV

• ARV (median comp): $221,064
• List price: $109,000
• Delta: -50.69%
• 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
3129 31 N Claiborne Ave	0.43mi	4/2.0	1,806 (+4%)	3mo	$267,150	$148	71
1727 29 Marigny St	0.60mi	4/2.0	1,716 (-1%)	1mo	$285,000	$166	70
2105 07 Arts St	0.28mi	4/3.0	1,598 (-8%)	3mo	$265,000	$166	67
1537-1539 Louisa St	0.51mi	4/2.0	1,778 (+2%)	6mo	$329,000	$185	67
1805 07 St Roch Ave	0.37mi	4/2.0	1,914 (+10%)	1mo	$290,000	$152	65
2211 13 Mandeville St	0.55mi	4/2.0	1,644 (-5%)	2mo	$195,000	$119	64
2421 Feliciana St	0.42mi	4/2.0	1,572 (-9%)	2mo	$113,900	$72	63
2630 N Rampart St	0.75mi	4/2.0	1,680 (-3%)	4mo	$387,500	$231	57
2467/2469 N Tonti St	0.43mi	4/2.0	1,475 (-15%)	2mo	$175,000	$119	53
1834 36 Marigny St	0.62mi	4/2.0	1,508 (-13%)	2mo	$215,000	$143	48
2929 Saint Claude Ave	0.65mi	4/2.0	1,507 (-13%)	1mo	$155,000	$103	47
1734 Spain St	0.49mi	5/3.0 (+1)	1,985 (+14%)	1mo	$100,000	$50	43

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: 52.2%
• Equity multiple: 3.28×
• Total profit: $69,441
• Equity at exit: $16,252

10-year hold

• IRR: 57.3%
• Equity multiple: 6.53×
• Total profit: $168,896
• Equity at exit: $9,424

Cash invested: $30,520 (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: 6.2×

Monthly cashflow live

• Estimated rent: $2,921 high
• Mortgage (P&I): −$572
• Tax from tax record: −$235 /mo · $2,824/yr
• Insurance: −$45
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $1,389

Break-even live

Break-even rent $1,163

Max offer price $109,000

Occupancy floor 47%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,922
Total (2 units)			$2,921

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	16d	1	0.24mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	23d	1	0.24mi
2524 N Galvez St New Orleans, LA	3.0	2.5	1102	$1,800	$1.63	17d	1	0.25mi
2522 N Galvez St New Orleans, LA	3.0	2.0	1105	$1,675	$1.52	23d	1	0.25mi
2515 N Galvez St New Orleans, LA	4.0	2.0	1200	$1,200	$1.00	10d	1	0.27mi
2515 N Galvez St Unit 2515 New Orleans, LA	4.0	2.0	1200	$1,900	$1.58	23d	1	0.27mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	16d	1	0.33mi
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	23d	1	0.36mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	16d	1	0.41mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	3d	1	0.42mi
1942 Piety St New Orleans, LA	3.0	1.0	1100	$1,500	$1.36	23d	1	0.44mi
1822 Piety St New Orleans, LA	3.0	1.5	1200	$1,500	$1.25	16d	1	0.45mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	23d	1	0.50mi
1904 Desire St New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	10d	1	0.50mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	23d	1	0.54mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	2d	1	0.54mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	3d	1	0.54mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	23d	1	0.58mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	43d	1	0.60mi
5624-5626 Saint Claude ST New Orleans, LA	4.0	3.0	1521	$2,300	$1.51	23d	1	0.61mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	23d	1	0.65mi
1710 Marigny St New Orleans, LA	3.0	2.0	1120	$1,750	$1.56	23d	1	0.65mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	3d	1	0.68mi
2115 Elysian Fields Ave Unit 2115 New Orleans, LA	3.0	1.0	1100	$1,450	$1.32	23d	1	0.68mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	21d	1	0.70mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	43d	1	0.71mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	23d	1	0.71mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	23d	1	0.77mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	23d	1	0.83mi
882 Montegut St New Orleans, LA	1.0–3.0	1.0–2.0	826	$2,575	$3.12	43d	7	0.85mi
1628 Bartholomew St New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	23d	1	0.85mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	0.87mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	2d	1	0.87mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	0.88mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	3d	2	0.89mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	23d	1	0.90mi
1923 N Robertson St New Orleans, LA	3.0	2.0	1051	$1,950	$1.86	3d	1	0.93mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	23d	1	0.95mi
2322 Burgundy St Unit C New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	23d	1	0.95mi
4222 N Johnson St New Orleans, LA	3.0	2.0	1100	$1,895	$1.72	23d	1	0.98mi

Listing history 19 events

1. 2026-06-18
   days on market $109,000 Active 66 DOM
2. 2026-06-17
   days on market $109,000 Active 65 DOM
3. 2026-06-16
   days on market $109,000 Active 64 DOM
4. 2026-06-15
   days on market $109,000 Active 63 DOM
5. 2026-06-13
   days on market $109,000 Active 61 DOM
6. 2026-06-10
   days on market $109,000 Active 58 DOM
7. 2026-06-09
   days on market $109,000 Active 57 DOM
8. 2026-06-08
   pricedays on market $109,000 Active 56 DOM
9. 2026-06-07
   days on market $114,500 Active 55 DOM
10. 2026-06-05
    days on market $114,500 Active 52 DOM
11. 2026-06-03
    days on market $114,500 Active 51 DOM
12. 2026-06-02
    days on market $114,500 Active 50 DOM
13. 2026-06-01
    days on market $114,500 Active 49 DOM
14. 2026-05-31
    days on market $114,500 Active 48 DOM
15. 2026-04-30
    price $114,500 664-char remark

    Show marketing remark (681 chars)

    Duplex on a corner lot located at 1941–43 Port Street in New Orleans, offering a great opportunity for both investors and owner-occupants. One unit is currently leased for $1,100/month, providing immediate income, while the second unit is vacant and ready for updates—allowing for value-add potential or owner occupancy. Property features separate utilities with 2 electric and 2 water meters for added convenience. A covered garage provides off-street parking or additional storage. Whether you’re looking to live in one unit and rent the other, or renovate and maximize rental potential, this property offers flexibility and upside at an attractive price point.

16. 2026-04-30
    price $114,500 681-char remark

    Show marketing remark (681 chars)

    Duplex on a corner lot located at 1941–43 Port Street in New Orleans, offering a great opportunity for both investors and owner-occupants. One unit is currently leased for $1,100/month, providing immediate income, while the second unit is vacant and ready for updates—allowing for value-add potential or owner occupancy. Property features separate utilities with 2 electric and 2 water meters for added convenience. A covered garage provides off-street parking or additional storage. Whether you’re looking to live in one unit and rent the other, or renovate and maximize rental potential, this property offers flexibility and upside at an attractive price point.

17. 2026-04-06
    listed $125,000 Active 664-char remark

    Show marketing remark (681 chars)

    Duplex on a corner lot located at 1941–43 Port Street in New Orleans, offering a great opportunity for both investors and owner-occupants. One unit is currently leased for $1,100/month, providing immediate income, while the second unit is vacant and ready for updates—allowing for value-add potential or owner occupancy. Property features separate utilities with 2 electric and 2 water meters for added convenience. A covered garage provides off-street parking or additional storage. Whether you’re looking to live in one unit and rent the other, or renovate and maximize rental potential, this property offers flexibility and upside at an attractive price point.

18. 2026-04-06
    listed $125,000 Active 681-char remark

    Show marketing remark (681 chars)

    Duplex on a corner lot located at 1941–43 Port Street in New Orleans, offering a great opportunity for both investors and owner-occupants. One unit is currently leased for $1,100/month, providing immediate income, while the second unit is vacant and ready for updates—allowing for value-add potential or owner occupancy. Property features separate utilities with 2 electric and 2 water meters for added convenience. A covered garage provides off-street parking or additional storage. Whether you’re looking to live in one unit and rent the other, or renovate and maximize rental potential, this property offers flexibility and upside at an attractive price point.

19. 1997-07-03
    soldstatus $20,500

ⓘ 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: $2,824 · $235/mo
• Projected year-2 tax: $2,824 · $235/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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,052
• − Mortgage interest: −$6,106
• − Property taxes: −$2,824
• − Insurance: −$1,342
• − Repairs & maintenance: −$2,804
• − Management: −$2,804
• − Depreciation: −$3,171
• Taxable income: $16,000
• Est. tax owed @ 24.0%: −$3,840
• After-tax cash flow: $12,825/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

+458.5% since first listed

5 events — show timeline

• 2026-04-30 Price Changed $114,500 AcadianaMLS
• 2026-04-30 Price Changed $114,500 GSREIN
• 2026-04-06 Listed $125,000 GSREIN
• 2026-04-06 Listed $125,000 AcadianaMLS
• 1997-07-03 Sold (Public Records) $20,500 Public Records

Property tax history

+6.2%/yr

Latest (2026): $2,824 · -5.4% YoY. Source: county tax records.