2012-14 Congress St · New Orleans, LA 70117

$209,900

None bd · None ba · 1,512 sqft · SingleFamily · 592 Days on market

Good condition 3,049 sqft lot $139/sqft · 6% below area Est $224k · 6% under

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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).

• ARV discount +10.3/15.0
• Cash flow +9.7/30.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.1/5.0
• 1% rule +2.9/10.0
• DSCR +2.8/10.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

TURNKEY INCOME PRODUCING DOUBLE IN THE LONGSTANDING ST CLAUDE & MUSICIANS' VILLAGE NEIGHBORHOOD. TWO 2B1B UNITS, BLOCKS FROM CLAIBORNE AVE, MINUTES FROM FRENCH QUARTER, MARIGNY, BYWATER, LOWER 9TH, HOLY CROSS. DON'T MISS OUT ON THIS GREAT OPPORTUNITY. BOTH UNITS ARE OCCUPIED BY TENANTS ON MONTH-TO-MONTH LEASES.

Key facts

• Income producing
• Upper ninth ward
• 3,049 sq ft lot

Tags

• INCOME PRODUCING
• UPPER NINTH WARD

What this means for you Summary

Snapshot

• This is a single-family listed at $210k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-203 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (14.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (20.8% below list).
• Recommended offer: $166k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.4% in New Orleans — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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).
• This rent runs 44% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• It's been on market 592 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $166,330 (20.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 592 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
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. 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.79% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.79%
• DSCR: 0.88
• GRM: 10.5

CMA / ARV

• ARV (median comp): $223,623
• List price: $209,900
• Delta: -6.14%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1704 Desire St	0.25mi	3/2.0	1,500 (-1%)	7mo	$200,000	$133	81
1713 Desire St	0.23mi	4/2.0	1,654 (+9%)	2mo	$235,000	$142	72
1336 Congress St	0.48mi	3/3.0	1,500 (-1%)	6mo	$332,000	$221	71
1431 Clouet St	0.51mi	3/2.0	1,404 (-7%)	1mo	$307,000	$219	64
2334 Louisa St	0.34mi	3/2.5	1,645 (+9%)	7mo	$215,000	$131	63
1639 Independence St	0.26mi	3/2.0	1,340 (-11%)	7mo	$220,000	$164	63
1833 Saint Ferdinand St	0.57mi	4/2.5	1,551 (+3%)	8mo	$130,000	$84	63
1331 Bartholomew St	0.54mi	3/2.0	1,628 (+8%)	1mo	$320,000	$197	61
2218 Feliciana St	0.42mi	3/2.5	1,645 (+9%)	8mo	$210,000	$128	59
1027 Louisa St	0.75mi	2/2.0	1,460 (-3%)	1mo	$450,000	$308	59
2730 N Prieur St	0.59mi	3/2.0	1,685 (+11%)	6mo	$237,650	$141	48
3028 Marais St	0.73mi	3/1.5	1,391 (-8%)	9mo	$328,000	$236	45

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: -23.8%
• Equity multiple: 0.19×
• Total profit: $-47,727
• Equity at exit: $31,297

10-year hold

• IRR: -20.3%
• Equity multiple: -0.04×
• Total profit: $-61,391
• Equity at exit: $18,148

Cash invested: $58,772 (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: 10.5×

Monthly cashflow live

• Estimated rent: $1,663 high
• Mortgage (P&I): −$1,101
• Tax est. 1.5%: −$262 /mo · $3,148/yr
• Insurance: −$87
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $-203

Break-even live

Break-even rent $1,920

Max offer price $180,522

Occupancy floor —

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	23d	1	0.12mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	3d	1	0.14mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	2d	1	0.14mi
1904 Desire St New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	10d	1	0.14mi
1942 Piety St New Orleans, LA	3.0	1.0	1100	$1,500	$1.36	23d	1	0.18mi
1822 Piety St New Orleans, LA	3.0	1.5	1200	$1,500	$1.25	15d	1	0.23mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	15d	1	0.24mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	3d	1	0.24mi
1628 Bartholomew St New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	23d	1	0.34mi
3125 Industrial Ct New Orleans, LA	2.0	2.5	1100	$1,450	$1.32	23d	1	0.35mi
4222 N Johnson St New Orleans, LA	3.0	2.0	1100	$1,895	$1.72	23d	1	0.37mi
2423 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	11d	1	0.37mi
2027 Feliciana St New Orleans, LA	2.0	1.0	1104	$1,100	$1.00	15d	1	0.37mi
2421 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	11d	1	0.37mi
2509 Piety St New Orleans, LA	2.0	2.0	1056	$1,450	$1.37	23d	1	0.39mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	15d	1	0.41mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	23d	1	0.41mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	21d	1	0.41mi
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	23d	1	0.44mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	23d	1	0.50mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	2d	1	0.51mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	0.51mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	0.52mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	23d	1	0.57mi
4318 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	3d	1	0.59mi
4318 1/2 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	2d	1	0.59mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	11d	1	0.61mi
1320 Feliciana St New Orleans, LA	2.0	2.0	1200	$2,000	$1.67	23d	1	0.64mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	23d	1	0.67mi
1119 Bartholomew St Unit 1119 New Orleans, LA	2.0	2.0	1410	$2,500	$1.77	43d	1	0.68mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	43d	1	0.68mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	23d	1	0.68mi
1233 Poland Ave New Orleans, LA	2.0	2.0	1200	$2,250	$1.88	23d	1	0.73mi
3025 Saint Claude Ave New Orleans, LA	2.0	2.0	1224	$1,950	$1.59	23d	1	0.78mi
3421 Burgundy St New Orleans, LA	2.0	2.0	1120	$3,000	$2.68	23d	1	0.83mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	43d	1	0.84mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	23d	1	0.84mi
1034 Montegut St Unit 1034 New Orleans, LA	2.0	2.0	1415	$3,400	$2.40	43d	1	0.84mi
2524 N Galvez St New Orleans, LA	3.0	2.5	1102	$1,800	$1.63	16d	1	0.86mi
2522 N Galvez St New Orleans, LA	3.0	2.0	1105	$1,675	$1.52	23d	1	0.86mi

Listing history 8 events

1. 2026-05-31
   days on market $209,900 Active 592 DOM
2. 2026-04-03
   price $209,900 316-char remark

   Show marketing remark (316 chars)

   TURNKEY INCOME PRODUCING DOUBLE IN THE LONGSTANDING ST CLAUDE & MUSICIANS' VILLAGE NEIGHBORHOOD. TWO 2B1B UNITS, BLOCKS FROM CLAIBORNE AVE, MINUTES FROM FRENCH QUARTER, MARIGNY, BYWATER, LOWER 9TH, HOLY CROSS. DON'T MISS OUT ON THIS GREAT OPPORTUNITY. BOTH UNITS ARE OCCUPIED BY TENANTS ON MONTH-TO-MONTH LEASES.

3. 2026-03-31
   price $210,000 316-char remark

   Show marketing remark (316 chars)

   TURNKEY INCOME PRODUCING DOUBLE IN THE LONGSTANDING ST CLAUDE & MUSICIANS' VILLAGE NEIGHBORHOOD. TWO 2B1B UNITS, BLOCKS FROM CLAIBORNE AVE, MINUTES FROM FRENCH QUARTER, MARIGNY, BYWATER, LOWER 9TH, HOLY CROSS. DON'T MISS OUT ON THIS GREAT OPPORTUNITY. BOTH UNITS ARE OCCUPIED BY TENANTS ON MONTH-TO-MONTH LEASES.

4. 2025-03-27
   price $216,000 316-char remark

   Show marketing remark (316 chars)

   TURNKEY INCOME PRODUCING DOUBLE IN THE LONGSTANDING ST CLAUDE & MUSICIANS' VILLAGE NEIGHBORHOOD. TWO 2B1B UNITS, BLOCKS FROM CLAIBORNE AVE, MINUTES FROM FRENCH QUARTER, MARIGNY, BYWATER, LOWER 9TH, HOLY CROSS. DON'T MISS OUT ON THIS GREAT OPPORTUNITY. BOTH UNITS ARE OCCUPIED BY TENANTS ON MONTH-TO-MONTH LEASES.

5. 2024-08-22
   listed $240,000 Active 316-char remark

   Show marketing remark (316 chars)

   TURNKEY INCOME PRODUCING DOUBLE IN THE LONGSTANDING ST CLAUDE & MUSICIANS' VILLAGE NEIGHBORHOOD. TWO 2B1B UNITS, BLOCKS FROM CLAIBORNE AVE, MINUTES FROM FRENCH QUARTER, MARIGNY, BYWATER, LOWER 9TH, HOLY CROSS. DON'T MISS OUT ON THIS GREAT OPPORTUNITY. BOTH UNITS ARE OCCUPIED BY TENANTS ON MONTH-TO-MONTH LEASES.

6. 2023-09-06
   historical $1,150
7. 2023-08-31
   listed $1,150
8. 2019-12-13
   listed $143,000 346-char remark

   Show marketing remark (346 chars)

   Looking for a solid return on your investment? Check out this income producing double in the Upper Ninth Ward! One side has been very well maintained by the long-term tenant for the last 4 years. The other side is vacant, and ready to be fixed up for an owner/occupant; or, to be rented out for a profit. Don't miss out on this great opportunity!

ⓘ 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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,960
• − Mortgage interest: −$11,758
• − Property taxes: −$3,148
• − Insurance: −$1,847
• − Repairs & maintenance: −$1,597
• − Management: −$1,597
• − Depreciation: −$6,106
• Taxable loss: −$6,093
• Est. tax savings @ 24.0%: +$1,462
• After-tax cash flow: $-974/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 · 12 photos

Good 80/100 None rehab

This turnkey income-producing double is in good condition with recent renovations, making it a solid investment opportunity.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both new lighting fixtures — improves safety and aesthetics
• Both new flooring in bathrooms — enhances functionality and appearance

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both new lighting fixtures — improves safety and aesthetics ↑
• Both new flooring in bathrooms — enhances functionality and appearance ↑

ⓘ 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

+46.8% since first listed

7 events — show timeline

• 2026-04-03 Price Changed $209,900 AcadianaMLS
• 2026-03-31 Price Changed $210,000 AcadianaMLS
• 2025-03-27 Price Changed $216,000 AcadianaMLS
• 2024-08-22 Listed $240,000 AcadianaMLS
• 2023-09-06 Rental Removed $1,150 GSREIN
• 2023-08-31 Listed for Rent $1,150 GSREIN
• 2019-12-13 Listed $143,000 AcadianaMLS