4774 Werner Dr · New Orleans, LA 70126

$165,000

6 bd · 2.0 ba · 1,864 sqft · MultiFamily public records · 146 Days on market

Built 1980 $89/sqft · 5% below area Est $174k · 5% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.9/15.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 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

OPPORTUNITY KNOCKS!! PERFECT ADDITION TO YOUR RENTAL INVESTMENT PORTFOLIO. MULTI-FAMILY PROPERTY LOCATED IN A QUIET NEIGHBORHOOD ON A CORNER LOT IN NEW ORLEANS EAST. EACH UNIT FEATURES 3 BEDS/ 1 BATH WITH OFF STREET PARKING. BRING THIS CASH COW BACK TO LIFE WITH A BIT OF TLC. HANO PAYMENT STANDARD PAYS UP TO $1813 PER UNIT. LIVE IN ONE SIDE AND RENT OUT THE OTHER OR RENT OUT BOTH SIDES FOR A POSSIBLE TOTAL MAX RENTAL INCOME OF $3626. SCHEDULE YOUR PRIVATE VIEWING TODAY.

Key facts

• Off street parking
• Corner lot
• 2 parking spots

Tags

• MULTI FAMILY PROPERTY
• CORNER LOT
• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $761 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.9% 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 soft (-0.2%/yr); 224 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,897/mo this rent would consume 83% of the median local household income ($42k/yr) (locally 1767% 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 $5k 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 + 0.0% rent growth), your $46k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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 $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.76% ✓
• Cap rate: 14.93%
• Cash-on-cash: 30.84%
• DSCR: 2.37
• GRM: 4.7

CMA / ARV

• ARV (median comp): $174,487
• List price: $165,000
• Delta: -5.44%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4849 51 Viola St	0.15mi	5/3.0 (-1)	1,940 (+4%)	7mo	$155,000	$80	71
4769 Bonita Dr	0.03mi	6/2.0	2,054 (+10%)	21mo	$52,000	$25	64
4772 74 Viola St	0.15mi	5/3.0 (-1)	1,990 (+7%)	14mo	$160,000	$80	61
4500-02 Bonita Dr	0.35mi	5/— (-1)	2,020 (+8%)	23mo	$169,500	$84	45
4500-02 Bonita Dr	0.35mi	5/2.0 (-1)	2,020 (+8%)	23mo	$169,500	$84	45

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: 7.8%
• Equity multiple: 1.29×
• Total profit: $13,522
• Equity at exit: $24,602

10-year hold

• IRR: 13.7%
• Equity multiple: 1.92×
• Total profit: $42,519
• Equity at exit: $14,266

Cash invested: $46,200 (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 70126

• Home prices YoY: -17.0%
• Rents YoY: -0.2%
• Active inventory: 224
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,897 high
• Mortgage (P&I): −$865
• Tax from tax record: −$167 /mo · $2,005/yr
• Insurance: −$69
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$608
• Net cashflow: $761

Break-even live

Break-even rent $1,934

Max offer price $165,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,896
Total (2 units)			$2,897

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4900 Lurline St New Orleans, LA	6.0	2.0	1600	$2,600	$1.62	23d	1	1.38mi

Listing history 28 events

1. 2026-06-18
   days on market $165,000 Active 146 DOM
2. 2026-06-17
   days on market $165,000 Active 145 DOM
3. 2026-06-16
   days on market $165,000 Active 144 DOM
4. 2026-06-15
   days on market $165,000 Active 143 DOM
5. 2026-06-13
   days on market $165,000 Active 141 DOM
6. 2026-06-10
   days on market $165,000 Active 138 DOM
7. 2026-06-09
   days on market $165,000 Active 137 DOM
8. 2026-06-08
   days on market $165,000 Active 136 DOM
9. 2026-06-07
   days on market $165,000 Active 135 DOM
10. 2026-06-05
    days on market $165,000 Active 132 DOM
11. 2026-06-03
    days on market $165,000 Active 131 DOM
12. 2026-06-02
    days on market $165,000 Active 130 DOM
13. 2026-06-01
    days on market $165,000 Active 129 DOM
14. 2026-05-31
    days on market $165,000 Active 128 DOM
15. 2026-01-23
    listed $165,000 Active 474-char remark

    Show marketing remark (474 chars)

    OPPORTUNITY KNOCKS!! PERFECT ADDITION TO YOUR RENTAL INVESTMENT PORTFOLIO. MULTI-FAMILY PROPERTY LOCATED IN A QUIET NEIGHBORHOOD ON A CORNER LOT IN NEW ORLEANS EAST. EACH UNIT FEATURES 3 BEDS/ 1 BATH WITH OFF STREET PARKING. BRING THIS CASH COW BACK TO LIFE WITH A BIT OF TLC. HANO PAYMENT STANDARD PAYS UP TO $1813 PER UNIT. LIVE IN ONE SIDE AND RENT OUT THE OTHER OR RENT OUT BOTH SIDES FOR A POSSIBLE TOTAL MAX RENTAL INCOME OF $3626. SCHEDULE YOUR PRIVATE VIEWING TODAY.

16. 2026-01-23
    listed $165,000 Active 474-char remark

    Show marketing remark (474 chars)

    OPPORTUNITY KNOCKS!! PERFECT ADDITION TO YOUR RENTAL INVESTMENT PORTFOLIO. MULTI-FAMILY PROPERTY LOCATED IN A QUIET NEIGHBORHOOD ON A CORNER LOT IN NEW ORLEANS EAST. EACH UNIT FEATURES 3 BEDS/ 1 BATH WITH OFF STREET PARKING. BRING THIS CASH COW BACK TO LIFE WITH A BIT OF TLC. HANO PAYMENT STANDARD PAYS UP TO $1813 PER UNIT. LIVE IN ONE SIDE AND RENT OUT THE OTHER OR RENT OUT BOTH SIDES FOR A POSSIBLE TOTAL MAX RENTAL INCOME OF $3626. SCHEDULE YOUR PRIVATE VIEWING TODAY.

17. 2025-03-23
    listed $185,000 Active
18. 2020-11-19
    soldstatus $165,000 Closed
19. 2020-08-09
    status Pending
20. 2020-08-05
    listed $160,000
21. 2020-08-05
    listed $160,000 Active
22. 2018-07-17
    soldstatus $129,000 Sold
23. 2018-04-05
    status Under Contract
24. 2018-03-31
    listed $129,000 Active
25. 2018-03-31
    listed $129,000
26. 2018-03-09
    soldstatus $45,000
27. 1998-06-08
    soldstatus $39,500
28. 1995-09-18
    soldstatus $16,670

ⓘ 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: $2,005 · $167/mo
• Projected year-2 tax: $2,005 · $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 AE · 60% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $34,764
• − Mortgage interest: −$9,243
• − Property taxes: −$2,005
• − Insurance: −$5,944
• − Repairs & maintenance: −$2,781
• − Management: −$2,781
• − Depreciation: −$4,800
• Taxable income: $7,211
• Est. tax owed @ 24.0%: −$1,731
• After-tax cash flow: $7,401/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): 27,047
• Household income: $41,709
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 1767.0

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: Predominantly Black (85%)
• Race & ethnicity: Black 85% Hispanic / Latino 6% Two or more races 5% White 5%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 5% Other Indo-European 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: ▼ -36.35%
• Current HPI: 177.355
• Rent YoY: ▼ -0.24%
• 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

+889.8% since first listed

14 events — show timeline

• 2026-01-23 Listed $165,000 AcadianaMLS
• 2026-01-23 Listed $165,000 GSREIN
• 2025-03-23 Listed $185,000 AcadianaMLS
• 2020-11-19 Sold (MLS) $165,000 GSREIN
• 2020-08-09 Pending — GSREIN
• 2020-08-05 Listed $160,000 GSREIN
• 2020-08-05 Listed $160,000 AcadianaMLS
• 2018-07-17 Sold (MLS) $129,000 GSREIN
• 2018-04-05 Pending — GSREIN
• 2018-03-31 Listed $129,000 AcadianaMLS
• 2018-03-31 Listed $129,000 GSREIN
• 2018-03-09 Sold (Public Records) $45,000 Public Records
• 1998-06-08 Sold (Public Records) $39,500 Public Records
• 1995-09-18 Sold (Public Records) $16,670 Public Records

Property tax history

+4.4%/yr

Latest (2026): $2,005 · +1.1% YoY. Source: county tax records.