5100-5102 Royal St · New Orleans, LA 70117

$139,000

4 bd · 2.0 ba · 988 sqft · MultiFamily public records · 287 Days on market

Built 1954 $141/sqft · 62% below area Est $229k · 39% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• 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

Calling all Investors or first time home buyers with a renovations needed. Approx a block and half from the Mississippi River Levee in Holy Cross Area. Corner Lot with 1 drive way also off street parking. Property has condensor connects ready on rear roof top. Live in one side while the other side pays or investor opportunity as well.

Key facts

• Off street parking
• Corner lot
• Parking

Tags

• CORNER LOT
• OFF STREET PARKING
• MISSISSIPPI RIVER LEVEE

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $139k.

Deal economics

• At list price, monthly cash flow is $990 ($12k/yr) — positive. Per door: $495/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $122k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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; 19 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 $2,481/mo this rent would consume 65% 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 $961 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 287 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 22y ago; this cycle's ask has dropped $26k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $139k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• 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 $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 287 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.78% ✓
• Cap rate: 15.41%
• Cash-on-cash: 32.57%
• DSCR: 2.45
• GRM: 4.7

CMA / ARV

• ARV (median comp): $228,598
• List price: $139,000
• Delta: -39.19%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.49% rent growth · sell at horizon

5-year hold

• IRR: 24.6%
• Equity multiple: 2.01×
• Total profit: $39,299
• Equity at exit: $20,725

10-year hold

• IRR: 32.1%
• Equity multiple: 3.84×
• Total profit: $110,434
• Equity at exit: $12,018

Cash invested: $38,920 (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: 9.3×

Monthly cashflow live

• Estimated rent: $2,481 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$117 /mo · $1,402/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $990

Break-even live

Break-even rent $1,228

Max offer price $139,000

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,480
Total (2 units)			$2,481

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
816 Forstall St New Orleans, LA	3.0	1.0	850	$1,600	$1.88	23d	1	0.12mi
18 Saint Claude Ct New Orleans, LA	3.0	1.0	864	$1,200	$1.39	11d	1	0.37mi
1422 Andry St New Orleans, LA	3.0	2.0	1100	$1,400	$1.27	3d	1	0.60mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	3d	1	0.65mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	3d	1	0.65mi
6038 N Rampart St New Orleans, LA	3.0	2.0	1080	$1,795	$1.66	23d	1	0.66mi
4021 St Claude Ave New Orleans, LA	4.0	2.0	1016	$1,275	$1.25	3d	1	0.89mi
1835 Andry St New Orleans, LA	3.0	2.0	918	$1,800	$1.96	23d	1	0.91mi
5900 N Derbigny St Unit 1 New Orleans, LA	3.0	2.0	1000	$1,950	$1.95	3d	1	0.94mi
1200 Southlawn Blvd New Orleans, LA	3.0	2.0	950	$1,725	$1.82	23d	1	0.99mi
1628 Bartholomew St New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	23d	1	1.13mi
1333 Angela Ave Arabi, LA	3.0	2.0	1090	$1,850	$1.70	2d	1	1.14mi
4222 N Johnson St New Orleans, LA	3.0	2.0	1100	$1,895	$1.72	23d	1	1.19mi
4217 N Johnson St New Orleans, LA	3.0	2.0	904	$1,650	$1.83	23d	1	1.22mi
505 Center St Unit A Arabi, LA	3.0	1.0	811	$1,300	$1.60	43d	1	1.38mi
1421 Numa St Unit 1421 New Orleans, LA	3.0	2.0	861	$1,400	$1.63	23d	1	1.46mi
1421 23 Numa St New Orleans, LA	3.0	2.0	861	$1,400	$1.63	14d	1	1.48mi
1421 23 Numa St New Orleans, LA	3.0	2.0	861	$1,400	$1.63	2d	1	1.48mi
325 Elmira Ave Unit 325 New Orleans, LA	3.0	1.5	1050	$1,525	$1.45	23d	1	1.49mi

Listing history 39 events

1. 2026-06-18
   days on market $139,000 Active 287 DOM
2. 2026-06-17
   days on market $139,000 Active 286 DOM
3. 2026-06-16
   days on market $139,000 Active 285 DOM
4. 2026-06-15
   days on market $139,000 Active 284 DOM
5. 2026-06-13
   days on market $139,000 Active 282 DOM
6. 2026-06-10
   days on market $139,000 Active 279 DOM
7. 2026-06-09
   days on market $139,000 Active 278 DOM
8. 2026-06-08
   days on market $139,000 Active 277 DOM
9. 2026-06-07
   days on market $139,000 Active 276 DOM
10. 2026-06-05
    days on market $139,000 Active 273 DOM
11. 2026-06-03
    days on market $139,000 Active 272 DOM
12. 2026-06-02
    days on market $139,000 Active 271 DOM
13. 2026-06-01
    days on market $139,000 Active 270 DOM
14. 2026-05-31
    days on market $139,000 Active 269 DOM
15. 2025-12-01
    price $139,000 336-char remark

    Show marketing remark (336 chars)

    Calling all Investors or first time home buyers with a renovations needed. Approx a block and half from the Mississippi River Levee in Holy Cross Area. Corner Lot with 1 drive way also off street parking. Property has condensor connects ready on rear roof top. Live in one side while the other side pays or investor opportunity as well.

16. 2025-12-01
    price $139,000 336-char remark

    Show marketing remark (336 chars)

    Calling all Investors or first time home buyers with a renovations needed. Approx a block and half from the Mississippi River Levee in Holy Cross Area. Corner Lot with 1 drive way also off street parking. Property has condensor connects ready on rear roof top. Live in one side while the other side pays or investor opportunity as well.

17. 2025-10-17
    price $149,900 336-char remark

    Show marketing remark (336 chars)

    Calling all Investors or first time home buyers with a renovations needed. Approx a block and half from the Mississippi River Levee in Holy Cross Area. Corner Lot with 1 drive way also off street parking. Property has condensor connects ready on rear roof top. Live in one side while the other side pays or investor opportunity as well.

18. 2025-10-17
    price $149,900 336-char remark

    Show marketing remark (336 chars)

    Calling all Investors or first time home buyers with a renovations needed. Approx a block and half from the Mississippi River Levee in Holy Cross Area. Corner Lot with 1 drive way also off street parking. Property has condensor connects ready on rear roof top. Live in one side while the other side pays or investor opportunity as well.

19. 2025-09-04
    listed $165,000 Active 336-char remark

    Show marketing remark (336 chars)

    Calling all Investors or first time home buyers with a renovations needed. Approx a block and half from the Mississippi River Levee in Holy Cross Area. Corner Lot with 1 drive way also off street parking. Property has condensor connects ready on rear roof top. Live in one side while the other side pays or investor opportunity as well.

20. 2025-09-04
    listed $165,000 Active 336-char remark

    Show marketing remark (336 chars)

    Calling all Investors or first time home buyers with a renovations needed. Approx a block and half from the Mississippi River Levee in Holy Cross Area. Corner Lot with 1 drive way also off street parking. Property has condensor connects ready on rear roof top. Live in one side while the other side pays or investor opportunity as well.

21. 2019-03-02
    listed $75,000
22. 2018-08-01
    historical
23. 2018-06-05
    status Active
24. 2018-05-10
    status Under Contract
25. 2018-04-12
    price $119,900
26. 2018-03-26
    listed $127,777 Active
27. 2018-03-26
    listed $119,900
28. 2018-03-01
    historical
29. 2018-02-21
    price $129,900
30. 2018-02-06
    price $135,000
31. 2017-11-30
    listed $140,000 Active
32. 2017-11-30
    listed $129,900
33. 2017-08-16
    historical
34. 2017-05-31
    price $179,900
35. 2017-05-09
    listed $139,900 Active
36. 2005-03-01
    soldstatus $62,000
37. 2004-12-13
    listed $59,999
38. 2004-12-13
    listed $59,999
39. 1980-07-13
    soldstatus $11,000

ⓘ 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: $1,402 · $117/mo
• Projected year-2 tax: $1,402 · $117/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 8/10 Severe FEMA zone X (shaded) · 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,772
• − Mortgage interest: −$7,786
• − Property taxes: −$1,402
• − Insurance: −$1,492
• − Repairs & maintenance: −$2,382
• − Management: −$2,382
• − Depreciation: −$4,044
• Taxable income: $10,285
• Est. tax owed @ 24.0%: −$2,468
• After-tax cash flow: $9,410/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): 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

+1163.6% since first listed

25 events — show timeline

• 2025-12-01 Price Changed $139,000 AcadianaMLS
• 2025-12-01 Price Changed $139,000 GSREIN
• 2025-10-17 Price Changed $149,900 AcadianaMLS
• 2025-10-17 Price Changed $149,900 GSREIN
• 2025-09-04 Listed $165,000 GSREIN
• 2025-09-04 Listed $165,000 AcadianaMLS
• 2019-03-02 Listed $75,000 AcadianaMLS
• 2018-08-01 Listing Removed — GSREIN
• 2018-06-05 Relisted — GSREIN
• 2018-05-10 Pending — GSREIN
• 2018-04-12 Price Changed $119,900 GSREIN
• 2018-03-26 Listed $119,900 AcadianaMLS
• 2018-03-26 Listed $127,777 GSREIN
• 2018-03-01 Listing Removed — GSREIN
• 2018-02-21 Price Changed $129,900 GSREIN
• 2018-02-06 Price Changed $135,000 GSREIN
• 2017-11-30 Listed $129,900 AcadianaMLS
• 2017-11-30 Listed $140,000 GSREIN
• 2017-08-16 Listing Removed — GSREIN
• 2017-05-31 Price Changed $179,900 GSREIN
• 2017-05-09 Listed $139,900 GSREIN
• 2005-03-01 Sold (MLS) $62,000 GSREIN
• 2004-12-13 Listed $59,999 GSREIN
• 2004-12-13 Listed $59,999 AcadianaMLS
• 1980-07-13 Sold (Public Records) $11,000 Public Records

Property tax history

+5.4%/yr

Latest (2026): $1,402 · +1.1% YoY. Source: county tax records.