1917 19 Jena St · New Orleans, LA 70115

$349,000

4 bd · 2.0 ba · 3,796 sqft · MultiFamily public records · 11 Days on market

Built 1925

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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 +29.9/30.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 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

Renovation opportunity in the Freret Neighborhood. Prime Uptown location three blocks to St Charles and one block to Napoleon. The property features wood floors, original details, 10.5ft ceilings and a large fenced backyard. Remodel the current double or convert to a single. Eligible for state and federal historic tax credits.

Key facts

• Wood floors
• 10.5ft ceilings
• Original details

Tags

• FRERET NEIGHBORHOOD
• UPTOWN LOCATION
• WOOD FLOORS
• ORIGINAL DETAILS
• 10.5FT CEILINGS
• LARGE FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $349k.

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 ($5k rent vs $349k).
• 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.
• Zoned schools: Benjamin Franklin Elem. Math And Science (math 12% / reading 23%, grade F, #479 of 646 statewide, top 75%, 747 students, 98% FRL, charter) — zoned schools average 98% FRL vs 68% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.4%/yr); 280 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $5,033/mo this rent would consume 67% of the median local household income ($90k/yr) (locally 1756% 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 $10k 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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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 $215k; list at $349k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $349,000

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.44% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.81%
• DSCR: 1.70
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $1,013,532
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5112 14 Pitt St	0.52mi	4/3.0	3,503 (-8%)	8mo	$639,000	$182	52
1300 04 General Pershing St	0.40mi	5/4.0 (+1)	3,513 (-8%)	7mo	$985,000	$280	50
2416 18 Soniat St	0.58mi	5/5.5 (+1)	3,384 (-11%)	2mo	$905,000	$267	34

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: 1.9%
• Equity multiple: 1.07×
• Total profit: $6,764
• Equity at exit: $52,037

10-year hold

• IRR: 7.9%
• Equity multiple: 1.51×
• Total profit: $50,207
• Equity at exit: $30,175

Cash invested: $97,720 (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 70115

• Rents YoY: -1.4%
• Active inventory: 280
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $5,033 high
• Mortgage (P&I): −$1,830
• Tax from tax record: −$713 /mo · $8,553/yr
• Insurance: −$145
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,057
• Net cashflow: $1,221

Break-even live

Break-even rent $3,487

Max offer price $349,000

Occupancy floor 71%

Sensitivity live

Price	-10% $1,419	-5% $1,320	+0% $1,221	+5% $1,122	+10% $1,024
Rent	-10% $824	-5% $1,022	+0% $1,221	+5% $1,420	+10% $1,619
Rate	-1.0pp $1,397	-0.5pp $1,310	base $1,221	+0.5pp $1,131	+1.0pp $1,039

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$5,032
Total (2 units)			$5,033

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1927 Napoleon Ave New Orleans, LA	5.0	2.0	3350	$3,600	$1.07	45d	1	0.05mi
5516 S Robertson St Unit A New Orleans, LA	3.0	2.5	3614	$2,800	$0.77	45d	1	0.72mi
3314 Carondelet St Unit A New Orleans, LA	3.0	2.0	3500	$3,000	$0.86	25d	1	0.72mi
4027 S Derbigny St New Orleans, LA	3.0	2.0	2950	$1,950	$0.66	25d	1	0.85mi
3112 Upperline St New Orleans, LA	5.0	3.5	2800	$3,650	$1.30	25d	1	0.86mi
4442 S Johnson St Unit 4442 New Orleans, LA	4.0	4.5	3000	$4,500	$1.50	13d	1	0.95mi
2107 Calhoun St New Orleans, LA	3.0	2.0	3300	$2,790	$0.85	45d	1	1.04mi
5918 Chestnut St New Orleans, LA	3.0	3.0	3089	$7,000	$2.27	45d	1	1.11mi
5918 Chestnut St New Orleans, LA	3.0	3.0	3089	$7,000	$2.27	18d	1	1.11mi
2432 Calhoun St New Orleans, LA	4.0	2.0	3300	$4,400	$1.33	18d	1	1.12mi
2616 Calhoun St New Orleans, LA	4.0	2.5	2850	$2,500	$0.88	45d	1	1.16mi
5533 S Tonti St New Orleans, LA	4.0	4.0	3000	$3,000	$1.00	16d	1	1.22mi
536 Nashville Ave New Orleans, LA	5.0	4.5	3860	$10,000	$2.59	18d	1	1.23mi
5956 Annunciation St New Orleans, LA	4.0	3.5	2772	$6,500	$2.34	45d	1	1.43mi
6075 Laurel St New Orleans, LA	3.0	2.5	3000	$7,500	$2.50	17d	1	1.45mi

Listing history 8 events

1. 2026-06-21
   days on market $349,000 Active 11 DOM
2. 2026-06-18
   days on market $349,000 Active 8 DOM
3. 2026-06-17
   days on market $349,000 Active 7 DOM
4. 2026-06-16
   days on market $349,000 Active 6 DOM
5. 2026-06-15
   days on market $349,000 Active 5 DOM
6. 2026-06-13
   days on marketlisting id $349,000 Active 3 DOM
7. 2026-06-10
   remarks 328-char remark
8. 2026-06-10
   listed $349,000 Active 1 DOM

ⓘ 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: $8,553 · $713/mo
• Projected year-2 tax: $8,553 · $713/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 7/10 Severe FEMA zone X · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,396
• − Mortgage interest: −$19,549
• − Property taxes: −$8,553
• − Insurance: −$2,542
• − Repairs & maintenance: −$4,832
• − Management: −$4,832
• − Depreciation: −$10,153
• Taxable income: $9,935
• Est. tax owed @ 24.0%: −$2,384
• After-tax cash flow: $12,270/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): 31,183
• Household income: $90,182
• Rent vs Own: 45.7% rent · 54.3% own
• Severe rent burden: 1756.0

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 0.58)
• Race & ethnicity: White 59% Black 26% Two or more races 8% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 8% Italian 3% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 91% English-only · Spanish 4% 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: ▼ -272.08%
• Current HPI: 287.2138
• Rent YoY: ▼ -1.42%
• 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

+66.2% since first listed

7 events — show timeline

• 2026-06-09 Listed $349,000 AcadianaMLS
• 2026-05-11 Sold (Public Records) $215,000 Public Records
• 2026-05-11 Sold (MLS) $215,000 AcadianaMLS
• 2026-05-11 Sold (MLS) $215,000 GSREIN
• 2026-04-22 Listing Removed — GSREIN
• 2026-04-21 Listed $210,000 AcadianaMLS
• 2026-04-21 Listed $210,000 GSREIN

Property tax history

+48.9%/yr

Latest (2026): $8,553 · +242.2% YoY. Source: county tax records.