6416 N Galvez St · New Orleans, LA 70117

$150,000

5 bd · 2.0 ba · 1,478 sqft · MultiFamily public records · 48 Days on market

Built 2008 5,227 sqft lot $101/sqft · 53% 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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Looking for room to spread out? This 5-bed, 2-bath home delivers 1,611 sq ft of comfortable living space, a large primary suite, and recent updates including a newer roof and A/C. Located in the St. Claude neighborhood with off-street parking and a generous lot, it's a great fit for anyone needing extra bedrooms or multi-use spaces

Key facts

• Generous lot
• Newer roof
• A/c

Tags

• LARGE PRIMARY SUITE
• NEWER ROOF
• A/C
• OFF-STREET PARKING
• GENEROUS LOT
• ST. CLAUDE NEIGHBORHOOD

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Detached single-family residence; Residential property
• Construction: Brick construction; Slab foundation; Built living area 1,611
• Exterior features: Wood fencing; Lot dimensions approximately 52 x 100

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Central heating and central air conditioning

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $653 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% 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 rising (+2.5%/yr); 581 active listings in the ZIP; 6 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 $2,070/mo this rent would consume 54% 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 $4k 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 $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 21y 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 $10k; list at $150k implies a 1400% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.38% ✓
• Cap rate: 12.05%
• Cash-on-cash: 20.55%
• DSCR: 1.91
• GRM: 6.0

CMA / ARV

• ARV (median comp): $346,660
• List price: $150,000
• Delta: -56.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5437 39 N Prieur St	0.71mi	6/2.0 (+1)	1,632 (+10%)	9mo	$150,000	$92	37

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: 9.8%
• Equity multiple: 1.39×
• Total profit: $16,202
• Equity at exit: $22,365

10-year hold

• IRR: 18.6%
• Equity multiple: 2.51×
• Total profit: $63,333
• Equity at exit: $12,969

Cash invested: $42,000 (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 70117

• Rents YoY: 2.5%
• Active inventory: 581
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,070 high
• Mortgage (P&I): −$787
• Tax from tax record: −$67 /mo · $801/yr
• Insurance: −$62
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $653

Break-even live

Break-even rent $1,243

Max offer price $150,000

Occupancy floor 63%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1824 Saint Maurice Ave New Orleans, LA	4.0	2.0	1500	$1,500	$1.00	23d	1	0.23mi
1511 Schnell Dr Arabi, LA	4.0	3.0	1700	$1,850	$1.09	3d	1	0.68mi
1314 Lamanche St New Orleans, LA	4.0	1.0	1300	$2,100	$1.62	16d	1	0.74mi
1327 Fats Domino Ave Unit B New Orleans, LA	4.0	2.0	1200	$2,200	$1.83	16d	1	0.75mi
5461 Saint Claude Ave New Orleans, LA	4.0	2.0	1250	$2,350	$1.88	23d	1	0.94mi
5459 Saint Claude Ave Unit 5461 New Orleans, LA	4.0	2.0	1454	$2,350	$1.62	23d	1	0.95mi

Listing history 31 events

1. 2026-06-18
   days on market $150,000 Active 48 DOM
2. 2026-06-17
   days on market $150,000 Active 47 DOM
3. 2026-06-16
   days on market $150,000 Active 46 DOM
4. 2026-06-15
   days on market $150,000 Active 45 DOM
5. 2026-06-13
   days on market $150,000 Active 43 DOM
6. 2026-06-10
   days on market $150,000 Active 40 DOM
7. 2026-06-09
   days on market $150,000 Active 39 DOM
8. 2026-06-08
   days on market $150,000 Active 38 DOM
9. 2026-06-07
   days on market $150,000 Active 37 DOM
10. 2026-06-05
    days on market $150,000 Active 34 DOM
11. 2026-06-03
    days on market $150,000 Active 33 DOM
12. 2026-06-02
    days on market $150,000 Active 32 DOM
13. 2026-06-01
    days on market $150,000 Active 31 DOM
14. 2026-05-31
    days on market $150,000 Active 30 DOM
15. 2026-05-01
    listed $150,000 Active 339-char remark

    Show marketing remark (333 chars)

    Looking for room to spread out? This 5-bed, 2-bath home delivers 1,611 sq ft of comfortable living space, a large primary suite, and recent updates including a newer roof and A/C. Located in the St. Claude neighborhood with off-street parking and a generous lot, it's a great fit for anyone needing extra bedrooms or multi-use spaces

16. 2026-05-01
    listed $150,000 Active 333-char remark

    Show marketing remark (333 chars)

    Looking for room to spread out? This 5-bed, 2-bath home delivers 1,611 sq ft of comfortable living space, a large primary suite, and recent updates including a newer roof and A/C. Located in the St. Claude neighborhood with off-street parking and a generous lot, it's a great fit for anyone needing extra bedrooms or multi-use spaces

17. 2025-04-16
    listed $239,500 Active
18. 2025-04-15
    listed $239,500 Active
19. 2023-06-27
    price $114,000
20. 2023-05-28
    listed $114,000
21. 2021-12-15
    price $112,000
22. 2021-10-19
    price $119,000
23. 2021-10-04
    price $139,000
24. 2021-09-19
    listed $112,000
25. 2014-03-25
    listed $144,500
26. 2014-03-25
    listed $144,500
27. 2012-01-06
    soldstatus $10,000
28. 2005-07-28
    soldstatus $30,000
29. 2005-07-08
    listed $35,000
30. 2005-07-08
    listed $35,000
31. 1993-01-20
    soldstatus $32,000

ⓘ 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: $801 · $67/mo
• Projected year-2 tax: $825 · $69/mo
• Expected delta: +$24/yr (+$2/mo · 3.0%)

ⓘ 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) · 76% 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: $24,835
• − Mortgage interest: −$8,402
• − Property taxes: −$801
• − Insurance: −$1,547
• − Repairs & maintenance: −$1,987
• − Management: −$1,987
• − Depreciation: −$4,364
• Taxable income: $5,747
• Est. tax owed @ 24.0%: −$1,379
• After-tax cash flow: $6,452/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

+368.8% since first listed

17 events — show timeline

• 2026-05-01 Listed $150,000 AcadianaMLS
• 2026-05-01 Listed $150,000 GBRMLS
• 2025-04-16 Listed $239,500 GBRMLS
• 2025-04-15 Listed $239,500 AcadianaMLS
• 2023-06-27 Price Changed $114,000 GSREIN
• 2023-05-28 Listed $114,000 AcadianaMLS
• 2021-12-15 Price Changed $112,000 GSREIN
• 2021-10-19 Price Changed $119,000 GSREIN
• 2021-10-04 Price Changed $139,000 GSREIN
• 2021-09-19 Listed $112,000 AcadianaMLS
• 2014-03-25 Listed $144,500 GSREIN
• 2014-03-25 Listed $144,500 AcadianaMLS
• 2012-01-06 Sold (Public Records) $10,000 Public Records
• 2005-07-28 Sold (MLS) — GSREIN
• 2005-07-08 Listed $35,000 GSREIN
• 2005-07-08 Listed $35,000 AcadianaMLS
• 1993-01-20 Sold (Public Records) $32,000 Public Records

Property tax history

+13.6%/yr

Latest (2026): $801 · +1.1% YoY. Source: county tax records.