530 32 Tupelo St · New Orleans, LA 70117

$149,900

6 bd · 2.0 ba · 2,168 sqft · MultiFamily public records · 164 Days on market

Built 1963 2,482 sqft lot $69/sqft · 22% below area Est $168k · 11% 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 +30.0/30.0
• ARV discount +12.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

CALLING ALL INVESTORS or OWNER OCCUPANTS TO BRING OFFERS. Located just a short walk from the Mississippi River in the desirable Holy Cross neighborhood, this solid brick double offers a rare opportunity for owner-occupants or investors alike. Each side features 2 spacious bedrooms and 1 full bath, combining historic charm with functional living space. Enjoy the perks of off-street parking. Whether you're looking to live in one unit and rent the other, or expand your investment portfolio, this property offers flexibility and great potential. Don’t miss this unique opportunity to own a well-maintained multi-family property in one of the city’s most charming riverfront communities. Measurements are approximate and should be verified by buyer and/or buyer's agent. Seller is motivated, bring offers

Key facts

• Off-street parking
• 2,482 sq ft lot
• Parking

Tags

• OFF-STREET PARKING
• RIVERFRONT COMMUNITIES

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.9% 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; 2 comparable units currently listed for rent nearby; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,016/mo this rent would consume 79% 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 ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 21y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $150k implies a 58% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 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 1963 — 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: 2.01% ✓
• Cap rate: 16.92%
• Cash-on-cash: 37.94%
• DSCR: 2.69
• GRM: 4.1

CMA / ARV

• ARV (median comp): $167,612
• List price: $149,900
• Delta: -10.57%
• 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
1008 10 Charbonnet St	0.34mi	6/2.0	2,016 (-7%)	16mo	$46,000	$23	59

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: 31.2%
• Equity multiple: 2.30×
• Total profit: $54,558
• Equity at exit: $22,351

10-year hold

• IRR: 38.1%
• Equity multiple: 4.46×
• Total profit: $145,040
• Equity at exit: $12,961

Cash invested: $41,972 (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: 8.3×

Monthly cashflow live

• Estimated rent: $3,016 high
• Mortgage (P&I): −$786
• Tax from tax record: −$207 /mo · $2,484/yr
• Insurance: −$62
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$633
• Net cashflow: $1,261

Break-even live

Break-even rent $1,420

Max offer price $149,900

Occupancy floor 53%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,016
Total (2 units)			$3,016

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1019 Center St Arabi, LA	5.0	3.0	1973	$5,888	$2.98	1d	1	0.86mi
3441 Catalina Dr New Orleans, LA	5.0	2.0	1610	$2,450	$1.52	11d	1	1.41mi

Listing history 38 events

1. 2026-06-18
   days on market $149,900 Active 164 DOM
2. 2026-06-17
   days on market $149,900 Active 163 DOM
3. 2026-06-16
   days on market $149,900 Active 162 DOM
4. 2026-06-15
   days on market $149,900 Active 161 DOM
5. 2026-06-13
   days on market $149,900 Active 159 DOM
6. 2026-06-10
   days on market $149,900 Active 156 DOM
7. 2026-06-09
   days on market $149,900 Active 155 DOM
8. 2026-06-08
   days on market $149,900 Active 154 DOM
9. 2026-06-07
   days on market $149,900 Active 153 DOM
10. 2026-06-05
    days on market $149,900 Active 150 DOM
11. 2026-06-03
    days on market $149,900 Active 149 DOM
12. 2026-06-02
    days on market $149,900 Active 148 DOM
13. 2026-06-01
    days on market $149,900 Active 147 DOM
14. 2026-05-31
    days on market $149,900 Active 146 DOM
15. 2026-04-29
    status Active 816-char remark

    Show marketing remark (816 chars)

    CALLING ALL INVESTORS or OWNER OCCUPANTS TO BRING OFFERS. Located just a short walk from the Mississippi River in the desirable Holy Cross neighborhood, this solid brick double offers a rare opportunity for owner-occupants or investors alike. Each side features 2 spacious bedrooms and 1 full bath, combining historic charm with functional living space. Enjoy the perks of off-street parking. Whether you're looking to live in one unit and rent the other, or expand your investment portfolio, this property offers flexibility and great potential. Don’t miss this unique opportunity to own a well-maintained multi-family property in one of the city’s most charming riverfront communities. Measurements are approximate and should be verified by buyer and/or buyer's agent. Seller is motivated, bring offers

16. 2026-04-16
    historical Active Under Contract 816-char remark

    Show marketing remark (816 chars)

    CALLING ALL INVESTORS or OWNER OCCUPANTS TO BRING OFFERS. Located just a short walk from the Mississippi River in the desirable Holy Cross neighborhood, this solid brick double offers a rare opportunity for owner-occupants or investors alike. Each side features 2 spacious bedrooms and 1 full bath, combining historic charm with functional living space. Enjoy the perks of off-street parking. Whether you're looking to live in one unit and rent the other, or expand your investment portfolio, this property offers flexibility and great potential. Don’t miss this unique opportunity to own a well-maintained multi-family property in one of the city’s most charming riverfront communities. Measurements are approximate and should be verified by buyer and/or buyer's agent. Seller is motivated, bring offers

17. 2026-02-24
    price $149,900 816-char remark

    Show marketing remark (816 chars)

    CALLING ALL INVESTORS or OWNER OCCUPANTS TO BRING OFFERS. Located just a short walk from the Mississippi River in the desirable Holy Cross neighborhood, this solid brick double offers a rare opportunity for owner-occupants or investors alike. Each side features 2 spacious bedrooms and 1 full bath, combining historic charm with functional living space. Enjoy the perks of off-street parking. Whether you're looking to live in one unit and rent the other, or expand your investment portfolio, this property offers flexibility and great potential. Don’t miss this unique opportunity to own a well-maintained multi-family property in one of the city’s most charming riverfront communities. Measurements are approximate and should be verified by buyer and/or buyer's agent. Seller is motivated, bring offers

18. 2026-01-05
    listed $175,000 Active 816-char remark

    Show marketing remark (816 chars)

    CALLING ALL INVESTORS or OWNER OCCUPANTS TO BRING OFFERS. Located just a short walk from the Mississippi River in the desirable Holy Cross neighborhood, this solid brick double offers a rare opportunity for owner-occupants or investors alike. Each side features 2 spacious bedrooms and 1 full bath, combining historic charm with functional living space. Enjoy the perks of off-street parking. Whether you're looking to live in one unit and rent the other, or expand your investment portfolio, this property offers flexibility and great potential. Don’t miss this unique opportunity to own a well-maintained multi-family property in one of the city’s most charming riverfront communities. Measurements are approximate and should be verified by buyer and/or buyer's agent. Seller is motivated, bring offers

19. 2025-12-07
    listed $1,150
20. 2025-04-05
    historical $1,250
21. 2024-10-05
    listed $1,250
22. 2024-10-04
    historical $1,250
23. 2023-09-15
    listed $1,250
24. 2023-07-12
    price $249,000
25. 2019-06-14
    listed $85,000
26. 2018-12-10
    historical
27. 2018-06-26
    listed $155,000
28. 2018-06-26
    listed $155,000 Active
29. 2018-06-20
    historical
30. 2018-02-02
    status Active
31. 2018-02-01
    historical
32. 2017-01-31
    listed $155,000 Active
33. 2017-01-09
    historical
34. 2016-09-13
    listed $155,000 Active
35. 2005-07-18
    soldstatus $95,000
36. 2005-04-07
    listed $99,000
37. 2005-04-07
    listed $99,000
38. 2000-12-12
    soldstatus $33,000

ⓘ 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: $2,484 · $207/mo
• Projected year-2 tax: $2,484 · $207/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 · 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: $36,192
• − Mortgage interest: −$8,397
• − Property taxes: −$2,484
• − Insurance: −$1,547
• − Repairs & maintenance: −$2,895
• − Management: −$2,895
• − Depreciation: −$4,361
• Taxable income: $13,613
• Est. tax owed @ 24.0%: −$3,267
• After-tax cash flow: $11,860/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

+354.2% since first listed

24 events — show timeline

• 2026-04-29 Relisted — GSREIN
• 2026-04-16 Contingent — GSREIN
• 2026-02-24 Price Changed $149,900 GSREIN
• 2026-01-05 Listed $175,000 GSREIN
• 2025-12-07 Listed for Rent $1,150 GSREIN
• 2025-04-05 Rental Removed $1,250 GSREIN
• 2024-10-05 Listed for Rent $1,250 GSREIN
• 2024-10-04 Rental Removed $1,250 GSREIN
• 2023-09-15 Listed for Rent $1,250 GSREIN
• 2023-07-12 Price Changed $249,000 GSREIN
• 2019-06-14 Listed $85,000 AcadianaMLS
• 2018-12-10 Listing Removed — GSREIN
• 2018-06-26 Listed $155,000 GSREIN
• 2018-06-26 Listed $155,000 AcadianaMLS
• 2018-06-20 Listing Removed — GSREIN
• 2018-02-02 Relisted — GSREIN
• 2018-02-01 Listing Removed — GSREIN
• 2017-01-31 Listed $155,000 GSREIN
• 2017-01-09 Listing Removed — GSREIN
• 2016-09-13 Listed $155,000 GSREIN
• 2005-07-18 Sold (MLS) $95,000 GSREIN
• 2005-04-07 Listed $99,000 GSREIN
• 2005-04-07 Listed $99,000 AcadianaMLS
• 2000-12-12 Sold (Public Records) $33,000 Public Records

Property tax history

+2.6%/yr

Latest (2026): $2,484 · +1.1% YoY. Source: county tax records.