1905-07 Arts St · New Orleans, LA 70117

$219,999

None bd · None ba · 1,581 sqft · MultiFamily · 64 Days on market

Fair condition 3,520 sqft lot $139/sqft · 29% above area Est $171k · 29% over

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Why this score? — see what drove the C 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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• 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

Prime Investment Opportunity in St. Roch! Classic New Orleans double located in the heart of the vibrant St. Roch neighborhood. Turnkey Income: Generating a total monthly rental income of $2,200, providing a strong cap rate from day one. Layout: Side-by-side double, featuring 2 bedrooms and 1 bathroom on each side. Location: Just minutes from the historic St. Roch Market, the Marigny, and the creative energy of the Bywater. Value Play: Priced competitively, offering a low barrier to entry for a multi-unit property in an area seeing consistent growth and revitalization. Whether you're looking to expand your rental portfolio or move into one side and let the neighbor pay your mortgage, this double delivers the quintessential New Orleans investment experience. Don't miss out on this high-yield opportunity in one of the city's most soulful neighborhoods. Schedule your private showing today!

Key facts

• 3,520 sq ft lot
• Listed 64 days

What this means for you Summary

Snapshot

• This is a multifamily listed at $220k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $733 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $207k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 $2,936/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 $2k of loan paydown is wiped out by about $7k 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 $62k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 28y 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 $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 $206,799 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.33% ✓
• Cap rate: 10.65%
• Cash-on-cash: 15.57%
• DSCR: 1.69
• GRM: 6.2

CMA / ARV

• ARV (median comp): $170,959
• List price: $219,999
• Delta: 28.68%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1314 16 Marigny St	0.42mi	2/1.0	1,560 (-1%)	2mo	$140,000	$90	76
2211 13 Mandeville St	0.34mi	4/2.0	1,644 (+4%)	2mo	$195,000	$119	75
2467/2469 N Tonti St	0.29mi	4/2.0	1,475 (-7%)	2mo	$175,000	$119	73
1834 36 Marigny St	0.37mi	4/2.0	1,508 (-5%)	2mo	$215,000	$143	73
1834-36 Marigny St	0.37mi	—/—	1,508 (-5%)	2mo	$215,000	$143	73
1314-16 Marigny St	0.55mi	—/—	1,560 (-1%)	2mo	$140,000	$90	71
1727 29 Marigny St	0.35mi	4/2.0	1,716 (+8%)	1mo	$285,000	$166	69
1727-29 Marigny St	0.35mi	—/—	1,716 (+8%)	1mo	$285,000	$166	69
2421 Feliciana St	0.65mi	4/2.0	1,572 (-1%)	2mo	$113,900	$72	67
2929 Saint Claude Ave	0.66mi	4/2.0	1,507 (-5%)	1mo	$155,000	$103	60
3135-3137 N Prieur St	0.58mi	6/2.0	1,800 (+14%)	2mo	$319,000	$177	49
3129 31 N Claiborne Ave	0.59mi	4/2.0	1,806 (+14%)	3mo	$267,150	$148	47

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: 4.1%
• Equity multiple: 1.16×
• Total profit: $9,598
• Equity at exit: $32,803

10-year hold

• IRR: 13.1%
• Equity multiple: 2.02×
• Total profit: $62,698
• Equity at exit: $19,021

Cash invested: $61,600 (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: 12.5×

Monthly cashflow live

• Estimated rent: $2,936 high
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$617
• Net cashflow: $733

Break-even live

Break-even rent $2,009

Max offer price $219,999

Occupancy floor 70%

Sensitivity live

Price	-10% $885	-5% $809	+0% $733	+5% $657	+10% $581
Rent	-10% $501	-5% $617	+0% $733	+5% $849	+10% $965
Rate	-1.0pp $843	-0.5pp $789	base $733	+0.5pp $676	+1.0pp $618

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,936
Total (2 units)			$2,936

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2524 N Galvez St New Orleans, LA	3.0	2.5	1102	$1,800	$1.63	17d	1	0.14mi
2522 N Galvez St New Orleans, LA	3.0	2.0	1105	$1,675	$1.52	24d	1	0.14mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	16d	1	0.27mi
2229 Saint Roch Ave New Orleans, LA	2.0	1.5	1200	$1,600	$1.33	21d	1	0.30mi
2024 Mandeville St New Orleans, LA	2.0	2.0	1072	$1,950	$1.82	24d	1	0.33mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	24d	1	0.33mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	24d	1	0.40mi
1710 Marigny St New Orleans, LA	3.0	2.0	1120	$1,750	$1.56	24d	1	0.40mi
1239 Saint Roch Ave New Orleans, LA	2.0	2.0	1500	$2,150	$1.43	4d	1	0.45mi
2115 Elysian Fields Ave Unit 2115 New Orleans, LA	3.0	1.0	1100	$1,450	$1.32	24d	1	0.46mi
2027 Feliciana St New Orleans, LA	2.0	1.0	1104	$1,100	$1.00	16d	1	0.49mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	24d	1	0.49mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	16d	1	0.49mi
3125 Industrial Ct New Orleans, LA	2.0	2.5	1100	$1,450	$1.32	24d	1	0.55mi
1320 Feliciana St New Orleans, LA	2.0	2.0	1200	$2,000	$1.67	24d	1	0.56mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	24d	1	0.58mi
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	24d	1	0.60mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	16d	1	0.62mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	4d	1	0.62mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	44d	1	0.62mi
1327 Frenchmen St Unit B New Orleans, LA	2.0	2.5	1175	$1,900	$1.62	24d	1	0.64mi
1822 Piety St New Orleans, LA	3.0	1.5	1200	$1,500	$1.25	16d	1	0.65mi
1942 Piety St New Orleans, LA	3.0	1.0	1100	$1,500	$1.36	24d	1	0.66mi
3025 Saint Claude Ave New Orleans, LA	2.0	2.0	1224	$1,950	$1.59	24d	1	0.68mi
1923 N Robertson St New Orleans, LA	3.0	2.0	1051	$1,950	$1.86	4d	1	0.68mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	24d	1	0.68mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	44d	1	0.68mi
1034 Montegut St Unit 1034 New Orleans, LA	2.0	2.0	1415	$3,400	$2.40	44d	1	0.68mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$2,165	$1.37	4d	2	0.70mi
1904 Desire St New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	11d	1	0.71mi
1136 Frenchmen St New Orleans, LA	2.0	1.0	1800	$1,650	$0.92	24d	1	0.73mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	24d	1	0.73mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.74mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.74mi
2421 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	12d	1	0.77mi
2423 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	12d	1	0.77mi
2311 Saint Anthony St Unit 1A New Orleans, LA	2.0	1.0	1100	$1,450	$1.32	24d	1	0.78mi
2322 Burgundy St Unit C New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	24d	1	0.78mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	3d	1	0.79mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	4d	1	0.79mi

Listing history 22 events

1. 2026-06-18
   days on market $219,999 Active 64 DOM
2. 2026-06-17
   days on market $219,999 Active 63 DOM
3. 2026-06-16
   days on market $219,999 Active 62 DOM
4. 2026-06-15
   days on market $219,999 Active 61 DOM
5. 2026-06-13
   days on market $219,999 Active 59 DOM
6. 2026-06-10
   days on market $219,999 Active 56 DOM
7. 2026-06-09
   days on market $219,999 Active 55 DOM
8. 2026-06-08
   days on market $219,999 Active 54 DOM
9. 2026-06-07
   days on market $219,999 Active 53 DOM
10. 2026-06-05
    days on market $219,999 Active 50 DOM
11. 2026-06-03
    days on market $219,999 Active 49 DOM
12. 2026-06-02
    days on market $219,999 Active 48 DOM
13. 2026-06-01
    days on market $219,999 Active 47 DOM
14. 2026-05-31
    days on market $219,999 Active 46 DOM
15. 2026-04-15
    listed $219,999 Active 899-char remark

    Show marketing remark (899 chars)

    Prime Investment Opportunity in St. Roch! Classic New Orleans double located in the heart of the vibrant St. Roch neighborhood. Turnkey Income: Generating a total monthly rental income of $2,200, providing a strong cap rate from day one. Layout: Side-by-side double, featuring 2 bedrooms and 1 bathroom on each side. Location: Just minutes from the historic St. Roch Market, the Marigny, and the creative energy of the Bywater. Value Play: Priced competitively, offering a low barrier to entry for a multi-unit property in an area seeing consistent growth and revitalization. Whether you're looking to expand your rental portfolio or move into one side and let the neighbor pay your mortgage, this double delivers the quintessential New Orleans investment experience. Don't miss out on this high-yield opportunity in one of the city's most soulful neighborhoods. Schedule your private showing today!

16. 2025-06-10
    price $243,999
17. 2025-01-31
    price $244,999
18. 2025-01-28
    listed $245,999 Active
19. 2025-01-22
    price $244,999
20. 2024-03-19
    listed $249,999 Active
21. 2022-01-15
    listed $190,000
22. 1998-05-06
    listed $49,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 73% 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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,232
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$1,897
• − Repairs & maintenance: −$2,819
• − Management: −$2,819
• − Depreciation: −$6,400
• Taxable income: $5,674
• Est. tax owed @ 24.0%: −$1,362
• After-tax cash flow: $7,430/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab

This multi-family property in St. Roch requires moderate repairs and maintenance, particularly to the exterior siding and roof. Painting and replacing the roof will significantly increase its value and make it more attractive to buyers and renters.

Repairs flagged

• Major Exterior paint — The exterior siding shows significant discoloration and wear.
• Major Roof inspection — No visible signs of recent maintenance or repair on the roof.
• Minor Interior wall paint — Some signs of wear and discoloration, but not severe enough to require immediate attention.

Value-add opportunities

• Both Paint exterior siding — Fresh paint will improve the curb appeal and potentially increase both resale and rental value.
• Both Replace roof — A new roof will improve the home's structural integrity and increase its value.
• Both Paint interior walls — Fresh paint will make the interior look more inviting and can increase both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior paint · The exterior siding shows significant discoloration and wear.	Major	$15,000–50,000
Roof inspection · No visible signs of recent maintenance or repair on the roof.	Major	$15,000–50,000
Interior wall paint · Some signs of wear and discoloration, but not severe enough to require immediate attention.	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both Paint exterior siding — Fresh paint will improve the curb appeal and potentially increase both resale and rental value. ↑
• Both Replace roof — A new roof will improve the home's structural integrity and increase its value. ↑
• Both Paint interior walls — Fresh paint will make the interior look more inviting and can increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+344.4% since first listed

8 events — show timeline

• 2026-04-15 Listed $219,999 AcadianaMLS
• 2025-06-10 Price Changed $243,999 AcadianaMLS
• 2025-01-31 Price Changed $244,999 AcadianaMLS
• 2025-01-28 Listed $245,999 AcadianaMLS
• 2025-01-22 Price Changed $244,999 AcadianaMLS
• 2024-03-19 Listed $249,999 AcadianaMLS
• 2022-01-15 Listed $190,000 AcadianaMLS
• 1998-05-06 Listed $49,500 AcadianaMLS