2400 Clouet St · New Orleans, LA 70119

$50,000

4 bd · 2.0 ba · 1,960 sqft · MultiFamily public records · 24 Days on market

Built 1978

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• 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

Investors, this is a wonderful opportunity to be part of the beautification of the upper 9th Ward! A lot of potential! Built on solid slab cinder block base. Two units with two bedrooms one bath, each, 1970 square feet total area. Newer roof and some windows replaced. Property is gutted and ready to renovate with your personal touch. No utilities in the property. Please present offers with proof of funds.

Key facts

• Newer roof
• Built 1978
• Listed 23 days

Tags

• SOLID SLAB CINDER BLOCK BASE
• NEWER ROOF
• SOME WINDOWS REPLACED
• GUTTED AND READY TO RENOVATE

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: 2-story property; Entry on main level
• Construction: Block construction; Shingle roof; Slab foundation; Built using block materials
• Exterior features: Corner lot; City lot; Lot dimensions approximately 30 x 117

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Property listed in poor condition

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $739/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 52.0% 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 soft (-0.2%/yr); 381 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,879/mo this rent would consume 65% of the median local household income ($53k/yr) (locally 3381% 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 $346 of loan paydown is wiped out by about $2k 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 $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $19k; list at $50k implies a 163% gain — meaningful room to come down on a strong offer.

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 $49,250 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 5.76% ✓
• Cap rate: 52.02%
• Cash-on-cash: 163.31%
• DSCR: 8.27
• GRM: 1.4

CMA / ARV

• ARV (on-the-fly): $339,080
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2517 N Miro St	0.60mi	4/2.0	1,857 (-5%)	7mo	$50,000	$27	57
3129 31 N Claiborne Ave	0.59mi	4/2.0	1,806 (-8%)	3mo	$267,150	$148	57
1736 38 Louisa St	0.48mi	4/2.0	1,784 (-9%)	14mo	$340,000	$191	50
1537-1539 Louisa St	0.63mi	4/2.0	1,778 (-9%)	6mo	$329,000	$185	50
3133 31 Clouet St	0.44mi	5/3.0 (+1)	1,814 (-7%)	11mo	$313,000	$173	49
1928-30 Desire St	0.40mi	4/2.0	1,764 (-10%)	20mo	$143,350	$81	48
3114-3116 Clouet St	0.61mi	5/3.0 (+1)	1,814 (-7%)	3mo	$320,000	$176	48
2502 Music St	0.74mi	4/2.0	1,917 (-2%)	19mo	$115,000	$60	46

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: —
• Equity multiple: 6.57×
• Total profit: $77,962
• Equity at exit: $7,455

10-year hold

• IRR: —
• Equity multiple: 12.28×
• Total profit: $157,855
• Equity at exit: $4,323

Cash invested: $14,000 (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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $2,879 high
• Mortgage (P&I): −$262
• Tax from tax record: −$86 /mo · $1,033/yr
• Insurance: −$21
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$605
• Net cashflow: $1,479

Break-even live

Break-even rent $1,007

Max offer price $50,000

Occupancy floor 44%

Sensitivity live

Price	-10% $1,507	-5% $1,493	+0% $1,479	+5% $1,465	+10% $1,450
Rent	-10% $1,251	-5% $1,365	+0% $1,479	+5% $1,592	+10% $1,706
Rate	-1.0pp $1,504	-0.5pp $1,491	base $1,479	+0.5pp $1,466	+1.0pp $1,453

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,878
Total (2 units)			$2,879

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	24d	1	0.06mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	24d	1	0.32mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	24d	1	0.39mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	17d	1	0.39mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	4d	1	0.40mi
2228 Arts St New Orleans, LA	3.0	2.0	2270	$1,675	$0.74	4d	1	0.67mi
5624-5626 Saint Claude ST New Orleans, LA	4.0	3.0	1521	$2,300	$1.51	24d	1	0.68mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	22d	1	0.74mi
3302 Metropolitan St New Orleans, LA	4.0	2.5	1700	$2,200	$1.29	18d	1	0.75mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	45d	1	0.84mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	0.88mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	0.88mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	0.89mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	24d	1	0.91mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	24d	1	0.92mi
2739 Bay St Unit B New Orleans, LA	4.0	2.0	1400	$1,800	$1.29	21d	1	0.93mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	24d	1	0.94mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	24d	1	0.98mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	45d	1	0.99mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	24d	1	0.99mi
4318 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	4d	1	1.01mi
4318 1/2 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	4d	1	1.01mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	13d	1	1.03mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	4d	1	1.04mi
2644 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	18d	1	1.05mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	24d	1	1.05mi
2646 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	18d	1	1.05mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	24d	1	1.09mi
2509 Sage St New Orleans, LA	3.0	1.0	1250	$1,650	$1.32	22d	1	1.10mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	24d	1	1.13mi
2647 Myrtle St Unit 2647 New Orleans, LA	4.0	2.0	1445	$2,550	$1.76	45d	1	1.13mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	24d	1	1.22mi
3540 Clermont Dr New Orleans, LA	3.0	2.0	1248	$1,975	$1.58	24d	1	1.24mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	4d	2	1.28mi
2320 N Rampart St New Orleans, LA	3.0	3.0	2317	$3,700	$1.60	45d	1	1.29mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	24d	1	1.30mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	24d	1	1.31mi
2322 Burgundy St Unit C New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	24d	1	1.34mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	1.37mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	1.37mi

Listing history 23 events

1. 2026-06-21
   days on market $50,000 Active 24 DOM
2. 2026-06-18
   days on market $50,000 Active 21 DOM
3. 2026-06-17
   days on market $50,000 Active 20 DOM
4. 2026-06-16
   days on market $50,000 Active 19 DOM
5. 2026-06-15
   days on market $50,000 Active 18 DOM
6. 2026-06-13
   days on market $50,000 Active 16 DOM
7. 2026-06-10
   days on market $50,000 Active 13 DOM
8. 2026-06-09
   days on market $50,000 Active 12 DOM
9. 2026-06-08
   days on market $50,000 Active 11 DOM
10. 2026-06-07
    days on market $50,000 Active 10 DOM
11. 2026-06-05
    days on market $50,000 Active 7 DOM
12. 2026-06-03
    days on market $50,000 Active 6 DOM
13. 2026-06-02
    days on market $50,000 Active 5 DOM
14. 2026-06-01
    days on market $50,000 Active 4 DOM
15. 2026-05-31
    days on market $50,000 Active 3 DOM
16. 2026-05-28
    listed $50,000 Active

    Show marketing remark (408 chars)

    Investors, this is a wonderful opportunity to be part of the beautification of the upper 9th Ward! A lot of potential! Built on solid slab cinder block base. Two units with two bedrooms one bath, each, 1970 square feet total area. Newer roof and some windows replaced. Property is gutted and ready to renovate with your personal touch. No utilities in the property. Please present offers with proof of funds.

17. 2026-05-28
    listed $50,000 Active 408-char remark

    Show marketing remark (408 chars)

    Investors, this is a wonderful opportunity to be part of the beautification of the upper 9th Ward! A lot of potential! Built on solid slab cinder block base. Two units with two bedrooms one bath, each, 1970 square feet total area. Newer roof and some windows replaced. Property is gutted and ready to renovate with your personal touch. No utilities in the property. Please present offers with proof of funds.

18. 2018-05-11
    soldstatus $19,000
19. 2018-05-10
    soldstatus $19,000 Sold 453-char remark

    Show marketing remark (453 chars)

    Great investment opportunity in the upper 9th Ward. Slab base cinder block bottom two bedrooms 1 bath per level. Although it needs to repaired, the plumbing for the bathroom and kitchen can be installed along a common wall. Some exterior windows need to be replaced but the foundation is solid. Possibly tear down to be replaced with a fourplex. Pictures and descriptions are accurate. Viewings will be entertained my serious offers with proof of funds.

20. 2018-04-04
    historical Pending Continue to Show 453-char remark

    Show marketing remark (453 chars)

    Great investment opportunity in the upper 9th Ward. Slab base cinder block bottom two bedrooms 1 bath per level. Although it needs to repaired, the plumbing for the bathroom and kitchen can be installed along a common wall. Some exterior windows need to be replaced but the foundation is solid. Possibly tear down to be replaced with a fourplex. Pictures and descriptions are accurate. Viewings will be entertained my serious offers with proof of funds.

21. 2018-03-25
    listed $19,000 Active 453-char remark

    Show marketing remark (453 chars)

    Great investment opportunity in the upper 9th Ward. Slab base cinder block bottom two bedrooms 1 bath per level. Although it needs to repaired, the plumbing for the bathroom and kitchen can be installed along a common wall. Some exterior windows need to be replaced but the foundation is solid. Possibly tear down to be replaced with a fourplex. Pictures and descriptions are accurate. Viewings will be entertained my serious offers with proof of funds.

22. 2018-03-25
    listed $19,000

    Show marketing remark (453 chars)

    Great investment opportunity in the upper 9th Ward. Slab base cinder block bottom two bedrooms 1 bath per level. Although it needs to repaired, the plumbing for the bathroom and kitchen can be installed along a common wall. Some exterior windows need to be replaced but the foundation is solid. Possibly tear down to be replaced with a fourplex. Pictures and descriptions are accurate. Viewings will be entertained my serious offers with proof of funds.

23. 1999-01-21
    soldstatus $15,500

ⓘ 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: $1,033 · $86/mo
• Projected year-2 tax: $1,033 · $86/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 · 99% 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: $34,548
• − Mortgage interest: −$2,801
• − Property taxes: −$1,033
• − Insurance: −$5,368
• − Repairs & maintenance: −$2,764
• − Management: −$2,764
• − Depreciation: −$1,455
• Taxable income: $18,363
• Est. tax owed @ 24.0%: −$4,407
• After-tax cash flow: $13,338/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): 37,253
• Household income: $53,143
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3381.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 44% White 40% Two or more races 10% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 0%

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: ▼ -135.38%
• Current HPI: 253.1929
• Rent YoY: ▼ -0.20%
• 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

+222.6% since first listed

8 events — show timeline

• 2026-05-28 Listed $50,000 AcadianaMLS
• 2026-05-28 Listed $50,000 GSREIN
• 2018-05-11 Sold (Public Records) $19,000 Public Records
• 2018-05-10 Sold (MLS) $19,000 GSREIN
• 2018-04-04 Contingent — GSREIN
• 2018-03-25 Listed $19,000 AcadianaMLS
• 2018-03-25 Listed $19,000 GSREIN
• 1999-01-21 Sold (Public Records) $15,500 Public Records

Property tax history

-1.2%/yr

Latest (2026): $1,033 · +1.1% YoY. Source: county tax records.