1215 17 S Clark St · New Orleans, LA 70125

$149,000

4 bd · 2.0 ba · 1,352 sqft · MultiFamily public records · 96 Days on market

Built 1931 2,482 sqft lot $110/sqft · 28% below area Est $209k · 29% under

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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 +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 +2.7/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

This property is tucked away in a convenient location on a one block street in close proximity to Xavier University, Carrollton, and the CBD. Each side has one bedroom and one bathroom with an open concept living room and kitchen. There is a large indoor laundry room in the rear of the property that is fantastic for additional storage. This owner also has two additional duplexes also for sale in the same block. Own all three doubles for $425,000 with possible monthly rental income of $5400-$6000.

Key facts

• Convenient location
• Additional storage
• 2,482 sq ft lot

Tags

• CONVENIENT LOCATION
• OPEN CONCEPT LIVING ROOM
• LARGE INDOOR LAUNDRY ROOM
• ADDITIONAL STORAGE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $149k.

Deal economics

• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $149k).
• Recommended offer: $136k (9.0% 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 flat; 217 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,704/mo this rent would consume 53% of the median local household income ($61k/yr) (locally 1270% 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 $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 + 0.7% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y 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 $35k; list at $149k implies a 326% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• 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 $135,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.81% ✓
• Cap rate: 15.41%
• Cash-on-cash: 32.55%
• DSCR: 2.45
• GRM: 4.6

CMA / ARV

• ARV (median comp): $209,370
• List price: $149,000
• Delta: -28.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8200 02 Edinburgh St	0.67mi	4/4.0	1,534 (+14%)	24mo	$199,000	$130	19

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 9.4%
• Equity multiple: 1.36×
• Total profit: $15,012
• Equity at exit: $22,216

10-year hold

• IRR: 16.2%
• Equity multiple: 2.16×
• Total profit: $48,387
• Equity at exit: $12,883

Cash invested: $41,720 (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 70125

• Home prices YoY: -16.3%
• Rents YoY: 0.7%
• Active inventory: 217
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,704 high
• Mortgage (P&I): −$781
• Tax from tax record: −$161 /mo · $1,933/yr
• Insurance: −$62
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$568
• Net cashflow: $705

Break-even live

Break-even rent $1,811

Max offer price $149,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,704
Total (2 units)			$2,704

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1210 S Genois St New Orleans, LA	3.0	1.0	1000	$1,595	$1.59	23d	1	0.06mi
1228 S Genois St New Orleans, LA	3.0	1.0	1000	$1,150	$1.15	23d	1	0.08mi
4702 Euphrosine St New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	3d	1	0.12mi
4814 Thalia St Unit B New Orleans, LA	3.0	2.0	1218	$1,850	$1.52	23d	1	0.17mi
4816 Thalia St New Orleans, LA	3.0	2.0	1218	$1,850	$1.52	23d	1	0.17mi
1603 S Rendon St New Orleans, LA	3.0	2.0	1329	$1,900	$1.43	20d	1	0.30mi
1318 S Salcedo St Unit 202 New Orleans, LA	4.0	2.0	1152	$1,975	$1.71	23d	1	0.32mi
1318 S Salcedo St Unit 101 New Orleans, LA	4.0	2.0	1152	$1,775	$1.54	17d	1	0.32mi
4520 Elba St New Orleans, LA	3.0	2.0	1100	$1,700	$1.55	23d	1	0.41mi
4401 Elba St New Orleans, LA	3.0	2.0	1400	$1,850	$1.32	23d	1	0.42mi
4403 Elba St New Orleans, LA	3.0	2.0	1400	$1,800	$1.29	3d	1	0.42mi
4400 Elba St New Orleans, LA	3.0	2.0	1600	$1,875	$1.17	23d	1	0.44mi
4117 State Street Dr New Orleans, LA	3.0	1.0	1678	$1,550	$0.92	11d	1	0.47mi
3317 Short St New Orleans, LA	3.0	2.0	900	$1,600	$1.78	23d	1	0.47mi
2835 Pine St Unit 2835 New Orleans, LA	3.0	2.0	1219	$2,995	$2.46	43d	1	0.51mi
2833 Pine St Unit 2833 New Orleans, LA	3.0	2.0	1219	$3,200	$2.63	19d	1	0.51mi
7922 Colapissa St New Orleans, LA	4.0	2.0	1848	$2,400	$1.30	10d	1	0.55mi
2741 Audubon St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	3d	1	0.56mi
647 S Pierce St New Orleans, LA	3.0	2.0	1550	$3,175	$2.05	14d	1	0.67mi
439 S Norman C. Francis Pkwy Unit 1A New Orleans, LA	3.0	1.0	1200	$1,700	$1.42	21d	1	0.71mi
615 S Pierce St New Orleans, LA	3.0	1.0	1200	$1,500	$1.25	17d	1	0.71mi
613 S Pierce St New Orleans, LA	3.0	1.0	1200	$1,500	$1.25	17d	1	0.71mi
429 S Genois St Unit 429 New Orleans, LA	3.0	1.0	1022	$1,650	$1.61	23d	1	0.72mi
431 S Genois St New Orleans, LA	3.0	1.0	1022	$1,675	$1.64	23d	1	0.72mi
7933 Belfast St Unit Upper New Orleans, LA	3.0	2.0	1500	$2,400	$1.60	23d	1	0.73mi
3829 General Taylor St New Orleans, LA	3.0	1.0	1000	$1,300	$1.30	23d	1	0.75mi
426 S Lopez St New Orleans, LA	4.0	3.0	1400	$2,300	$1.64	23d	1	0.75mi
3825 Baudin St New Orleans, LA	3.0	3.5	1680	$2,000	$1.19	23d	1	0.76mi
3023 Baudin St New Orleans, LA	3.0	1.0	968	$2,400	$2.48	17d	1	0.76mi
2651 Poydras St New Orleans, LA	1.0–4.0	1.0–2.0	1095	$2,545	$2.32	1d	16	0.79mi
4020 Baudin St New Orleans, LA	3.0	2.0	1100	$1,550	$1.41	3d	1	0.80mi
3804 Banks St New Orleans, LA	3.0	2.0	1353	$2,250	$1.66	17d	1	0.80mi
334 S Clark St New Orleans, LA	3.0	1.0	1065	$1,750	$1.64	21d	1	0.80mi
2308 Audubon St New Orleans, LA	4.0	1.5	1480	$3,050	$2.06	16d	1	0.82mi
3636 Upperline St New Orleans, LA	3.0	1.0	1600	$1,975	$1.23	23d	1	0.83mi
325 S Rendon St New Orleans, LA	3.0	2.0	1130	$2,000	$1.77	23d	1	0.83mi
8502 Edinburgh St New Orleans, LA	3.0	2.0	1456	$1,800	$1.24	3d	1	0.83mi
305 S Norman C Francis Pkwy New Orleans, LA	3.0	1.5	1730	$2,500	$1.45	14d	1	0.84mi
305 S Norman C Francis Pkwy New Orleans, LA	3.0	1.5	1730	$2,600	$1.50	17d	1	0.84mi
2645 Gravier St Unit 2645-A New Orleans, LA	3.0	1.0	1290	$1,595	$1.24	23d	1	0.85mi

Listing history 24 events

1. 2026-06-18
   days on market $149,000 Active 96 DOM
2. 2026-06-17
   days on market $149,000 Active 95 DOM
3. 2026-06-16
   days on market $149,000 Active 94 DOM
4. 2026-06-15
   days on market $149,000 Active 93 DOM
5. 2026-06-13
   days on market $149,000 Active 91 DOM
6. 2026-06-10
   days on market $149,000 Active 88 DOM
7. 2026-06-09
   days on market $149,000 Active 87 DOM
8. 2026-06-08
   days on market $149,000 Active 86 DOM
9. 2026-06-07
   days on market $149,000 Active 85 DOM
10. 2026-06-05
    days on market $149,000 Active 82 DOM
11. 2026-06-03
    days on market $149,000 Active 81 DOM
12. 2026-06-02
    days on market $149,000 Active 80 DOM
13. 2026-06-01
    days on market $149,000 Active 79 DOM
14. 2026-05-31
    days on market $149,000 Active 78 DOM
15. 2026-03-14
    listed $149,000 Active 501-char remark

    Show marketing remark (501 chars)

    This property is tucked away in a convenient location on a one block street in close proximity to Xavier University, Carrollton, and the CBD. Each side has one bedroom and one bathroom with an open concept living room and kitchen. There is a large indoor laundry room in the rear of the property that is fantastic for additional storage. This owner also has two additional duplexes also for sale in the same block. Own all three doubles for $425,000 with possible monthly rental income of $5400-$6000.

16. 2026-03-14
    listed $149,000 Active 501-char remark

    Show marketing remark (501 chars)

    This property is tucked away in a convenient location on a one block street in close proximity to Xavier University, Carrollton, and the CBD. Each side has one bedroom and one bathroom with an open concept living room and kitchen. There is a large indoor laundry room in the rear of the property that is fantastic for additional storage. This owner also has two additional duplexes also for sale in the same block. Own all three doubles for $425,000 with possible monthly rental income of $5400-$6000.

17. 2025-09-12
    listed $150,000 Active
18. 2010-04-30
    soldstatus $35,000
19. 2010-03-15
    soldstatus $146,619
20. 2010-02-23
    listed $34,900
21. 2010-02-23
    listed $34,900
22. 2006-12-22
    soldstatus $31,200
23. 2006-09-15
    listed $32,500
24. 2006-09-15
    listed $32,500

ⓘ 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: $1,933 · $161/mo
• Projected year-2 tax: $1,933 · $161/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 AE · 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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,448
• − Mortgage interest: −$8,346
• − Property taxes: −$1,933
• − Insurance: −$5,864
• − Repairs & maintenance: −$2,596
• − Management: −$2,596
• − Depreciation: −$4,335
• Taxable income: $6,779
• Est. tax owed @ 24.0%: −$1,627
• After-tax cash flow: $6,834/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): 17,821
• Household income: $61,174
• Rent vs Own: 53.3% rent · 46.7% own
• Severe rent burden: 1270.0

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 0.63)
• Race & ethnicity: Black 51% White 32% Hispanic / Latino 9% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Romanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 1% Chinese 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: ▼ -49.68%
• Current HPI: 255.5998
• Rent YoY: ▲ 0.73%
• 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

+358.5% since first listed

10 events — show timeline

• 2026-03-14 Listed $149,000 GSREIN
• 2026-03-14 Listed $149,000 AcadianaMLS
• 2025-09-12 Listed $150,000 AcadianaMLS
• 2010-04-30 Sold (MLS) $35,000 GSREIN
• 2010-03-15 Sold (Public Records) $146,619 Public Records
• 2010-02-23 Listed $34,900 GSREIN
• 2010-02-23 Listed $34,900 AcadianaMLS
• 2006-12-22 Sold (MLS) $31,200 GSREIN
• 2006-09-15 Listed $32,500 GSREIN
• 2006-09-15 Listed $32,500 AcadianaMLS

Property tax history

+2.4%/yr

Latest (2026): $1,933 · +1.1% YoY. Source: county tax records.