1104 06 Leboeuf St · New Orleans, LA 70114

$165,000

4 bd · 2.0 ba · 1,350 sqft · MultiFamily · 47 Days on market

Built 1960 Fair condition $122/sqft · 13% above area Est $147k · 13% over

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +2.3/5.0
• Condition / age +2.2/5.0
• ARV discount +1.8/15.0
• 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

VERY NICE DOUBLE IN X FLOOD ZONE, ONE UNIT IS VACANT AND IS BEING REFURBISHED. BOTH UNITS HAVE SEPARATE METERS, BOTH UNITS HAS RANGE/OVEN AND REFRIGERATORS. SITUATED ON A DEEP LOT. WORKING ON LEVELING FOUNDATION

Key facts

• Deep lot
• Being refurbished
• Leveling foundation

Tags

• ONE UNIT VACANT
• BEING REFURBISHED
• SEPARATE METERS
• DEEP LOT
• LEVELING FOUNDATION

Property features AI

Finance

• Financial info: Two-unit property (total units: 2); Tenant pays electricity, gas, and water; Unit 1104 listed rent: $1,100 (actual rent $1,100)

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-story building
• Construction: Vinyl siding; Asphalt shingle roof; Raised foundation
• Exterior features: Porch; Fence; City lot with rectangular shape; Lot dimensions approximately 33 x 164 feet; Raised foundation

Interior

• Bedrooms: Unit 1104: 2 bedrooms; Unit 1106: 2 bedrooms
• Bathrooms: Unit 1104: 1 full bathroom; Unit 1106: 1 full bathroom; Total full bathrooms: 2
• Heating & cooling: Window heating units; Window cooling units
• Interior features: Two 2-bedroom units (units 1104 and 1106); Each unit has 1 full bathroom

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $165k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $805 ($10k/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: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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 (-0.7%/yr); 265 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,547/mo this rent would consume 70% of the median local household income ($43k/yr) (locally 2240% 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 ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 29y 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% 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. Built in 1960 — 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. 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: 1.54% ✓
• Cap rate: 12.63%
• Cash-on-cash: 22.65%
• DSCR: 2.01
• GRM: 5.4

CMA / ARV

• ARV (median comp): $146,530
• List price: $165,000
• Delta: 12.60%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1031 33 Nunez St	0.55mi	4/1.0	1,352 (+0%)	21mo	$107,500	$80	52
1100 02 Hendee St	0.20mi	4/2.0	1,521 (+13%)	22mo	$174,490	$115	51
733 Whitney Ave	0.25mi	3/3.0 (-1)	1,500 (+11%)	22mo	$144,000	$96	42
320-22 Lebouef St	0.58mi	4/2.0	1,200 (-11%)	21mo	$140,000	$117	37
841 Elmira Ave	0.37mi	3/3.0 (-1)	1,500 (+11%)	22mo	$214,000	$143	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 9.8%
• Equity multiple: 1.37×
• Total profit: $17,174
• Equity at exit: $24,602

10-year hold

• IRR: 16.2%
• Equity multiple: 2.14×
• Total profit: $52,482
• 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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,547 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $805

Break-even live

Break-even rent $1,528

Max offer price $165,000

Occupancy floor 63%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,546
Total (2 units)			$2,547

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 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	3d	1	0.22mi
1108 Sumner St New Orleans, LA	3.0	1.5	1197	$1,500	$1.25	11d	1	0.26mi
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	16d	1	0.35mi
718 Majestic Pl New Orleans, LA	3.0	2.0	1164	$1,785	$1.53	21d	1	0.35mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	3d	1	0.41mi
606 Drum St New Orleans, LA	3.0	2.0	1131	$2,350	$2.08	23d	1	0.46mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	23d	1	0.47mi
513 Park Blvd New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	3d	1	0.56mi
433 Homer St Unit 1 New Orleans, LA	4.0	2.0	1570	$1,850	$1.18	23d	1	0.58mi
1140 Teche St Apt B New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	23d	1	0.60mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	23d	1	0.64mi
400 Park Blvd Unit A New Orleans, LA	4.0	1.5	1275	$2,200	$1.73	23d	1	0.64mi
1136 Brooklyn Ave New Orleans, LA	3.0	1.0	913	$1,600	$1.75	23d	1	0.66mi
325 Elmira Ave Unit 325 New Orleans, LA	3.0	1.5	1050	$1,525	$1.45	23d	1	0.67mi
1625 Lauradale Dr New Orleans, LA	3.0	2.0	1029	$1,700	$1.65	3d	1	0.69mi
1684 Lauradale Dr New Orleans, LA	4.0	2.0	1571	$2,000	$1.27	23d	1	0.76mi
249 Vallette St New Orleans, LA	4.0	2.0	1734	$2,500	$1.44	16d	1	0.78mi
119 Vallette St New Orleans, LA	3.0	2.5	1500	$2,100	$1.40	23d	1	0.85mi
2320 Mardi Gras Blvd New Orleans, LA	4.0	2.5	1600	$2,500	$1.56	1d	1	0.92mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	43d	1	0.96mi
1719 Pace Blvd New Orleans, LA	3.0	1.0	1178	$2,000	$1.70	11d	1	1.03mi
1200 Southlawn Blvd New Orleans, LA	3.0	2.0	950	$1,725	$1.82	23d	1	1.04mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	1d	1	1.07mi
1774 Pace Blvd New Orleans, LA	4.0	2.5	1574	$2,000	$1.27	23d	1	1.09mi
3000 Americus St New Orleans, LA	3.0	2.0	1280	$1,400	$1.09	23d	1	1.15mi
2002 Pace Blvd Unit 103 New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	14d	1	1.20mi
619 Reynes St New Orleans, LA	3.0	2.0	1318	$2,100	$1.59	16d	1	1.46mi
3441 Catalina Dr New Orleans, LA	5.0	2.0	1610	$2,450	$1.52	11d	1	1.46mi
617 Forstall St New Orleans, LA	3.0	2.0	1262	$2,200	$1.74	3d	1	1.49mi

Listing history 28 events

1. 2026-06-18
   days on market $165,000 Active 47 DOM
2. 2026-06-17
   days on market $165,000 Active 46 DOM
3. 2026-06-16
   days on market $165,000 Active 45 DOM
4. 2026-06-15
   days on market $165,000 Active 44 DOM
5. 2026-06-13
   days on market $165,000 Active 42 DOM
6. 2026-06-10
   days on market $165,000 Active 39 DOM
7. 2026-06-09
   days on market $165,000 Active 38 DOM
8. 2026-06-08
   days on market $165,000 Active 37 DOM
9. 2026-06-07
   days on market $165,000 Active 36 DOM
10. 2026-06-05
    days on market $165,000 Active 33 DOM
11. 2026-06-03
    days on market $165,000 Active 32 DOM
12. 2026-06-02
    days on market $165,000 Active 31 DOM
13. 2026-06-01
    days on market $165,000 Active 30 DOM
14. 2026-05-31
    days on market $165,000 Active 29 DOM
15. 2026-04-30
    listed $165,000 Active 211-char remark

    Show marketing remark (211 chars)

    VERY NICE DOUBLE IN X FLOOD ZONE, ONE UNIT IS VACANT AND IS BEING REFURBISHED. BOTH UNITS HAVE SEPARATE METERS, BOTH UNITS HAS RANGE/OVEN AND REFRIGERATORS. SITUATED ON A DEEP LOT. WORKING ON LEVELING FOUNDATION

16. 2026-04-30
    listed $165,000 Active 212-char remark

    Show marketing remark (211 chars)

    VERY NICE DOUBLE IN X FLOOD ZONE, ONE UNIT IS VACANT AND IS BEING REFURBISHED. BOTH UNITS HAVE SEPARATE METERS, BOTH UNITS HAS RANGE/OVEN AND REFRIGERATORS. SITUATED ON A DEEP LOT. WORKING ON LEVELING FOUNDATION

17. 2024-11-06
    price $170,000
18. 2024-11-06
    price $170,000
19. 2024-06-05
    price $180,000
20. 2024-05-06
    listed $180,000 Active
21. 2020-12-10
    listed $150,000
22. 2017-12-14
    listed $109,000
23. 2016-01-13
    listed $114,000
24. 2014-05-01
    listed $124,000
25. 2009-04-04
    listed $145,000
26. 2006-10-23
    listed $141,500
27. 1998-11-24
    listed $39,999
28. 1997-02-04
    listed $29,500

ⓘ 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 · 60% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,564
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$1,622
• − Repairs & maintenance: −$2,445
• − Management: −$2,445
• − Depreciation: −$4,800
• Taxable income: $7,534
• Est. tax owed @ 24.0%: −$1,808
• After-tax cash flow: $7,857/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 · 10 photos

Fair 45/100 Moderate rehab

This property requires moderate repairs and maintenance, including roof replacement and exterior painting, to improve its condition and value.

Repairs flagged

• Major roof — visible wear
• Major exterior siding — weathered appearance
• Minor landscaping — basic landscaping

Value-add opportunities

• Both paint exterior — enhances curb appeal and value
• Both replace roof — extends life and improves value
• Both landscaping — enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · visible wear	Major	$15,000–50,000
exterior siding · weathered appearance	Major	$15,000–50,000
landscaping · basic landscaping	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both paint exterior — enhances curb appeal and value ↑
• Both replace roof — extends life and improves value ↑
• Both landscaping — enhances curb appeal and 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): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% 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: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

+459.3% since first listed

14 events — show timeline

• 2026-04-30 Listed $165,000 GSREIN
• 2026-04-30 Listed $165,000 AcadianaMLS
• 2024-11-06 Price Changed $170,000 AcadianaMLS
• 2024-11-06 Price Changed $170,000 GSREIN
• 2024-06-05 Price Changed $180,000 GSREIN
• 2024-05-06 Listed $180,000 AcadianaMLS
• 2020-12-10 Listed $150,000 AcadianaMLS
• 2017-12-14 Listed $109,000 AcadianaMLS
• 2016-01-13 Listed $114,000 AcadianaMLS
• 2014-05-01 Listed $124,000 AcadianaMLS
• 2009-04-04 Listed $145,000 AcadianaMLS
• 2006-10-23 Listed $141,500 AcadianaMLS
• 1998-11-24 Listed $39,999 AcadianaMLS
• 1997-02-04 Listed $29,500 AcadianaMLS