1022 N Miro St · New Orleans, LA 70119

$205,000

4 bd · 2.0 ba · 1,972 sqft · MultiFamily public records · 57 Days on market

Built 1920 3,262 sqft lot $104/sqft · 46% below area Est $385k · 47% 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 +2.5/5.0
• 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

Welcome to 1022 N Miro St -- a prime investment opportunity in the heart of New Orleans! This charming duplex offers an excellent opportunity for both homeowners and investors. Each unit features two spacious bedrooms and one full bathroom, thoughtfully designed for comfort and functionality. Enjoy modern conveniences such as a dishwasher, in-unit laundry, and a fenced yard--perfect for privacy and outdoor living. Additional highlights include an alarm system and a desirable location near local parks. Whether you're looking to live in one unit and rent out the other or add a strong performer to your investment portfolio, 1022 N Miro St is a smart choice.

Key facts

• Fenced yard
• Desirable location
• In-unit laundry

Tags

• FENCED YARD
• IN-UNIT LAUNDRY
• ALARM SYSTEM
• DESIRABLE LOCATION

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $205k.

Deal economics

• At list price, monthly cash flow is $928 ($11k/yr) — positive. Per door: $464/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Recommended offer: $199k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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 (-0.2%/yr); 381 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).
• At $3,075/mo this rent would consume 69% of the median local household income ($53k/yr) (locally 3381% 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 $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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $57k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• 5 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 $60k; list at $205k implies a 242% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1920 — 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 $198,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% 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 1920 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.50% ✓
• Cap rate: 12.11%
• Cash-on-cash: 20.78%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

• ARV (median comp): $384,874
• List price: $205,000
• Delta: -46.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2601 03 St Ann St	0.30mi	4/2.0	1,946 (-1%)	5mo	$220,000	$113	80
2615 26 Saint Ann St	0.31mi	4/2.0	1,900 (-4%)	5mo	$125,000	$66	75
2912 14 St. Peter St	0.61mi	4/2.0	1,912 (-3%)	2mo	$290,000	$152	65
917 N Prieur St	0.20mi	4/2.0	1,700 (-14%)	4mo	$315,000	$185	65
1668 Paul Morphy St	0.74mi	4/2.0	1,980 (+0%)	0mo	$285,000	$144	64
1432-1434 Ursulines Ave	0.53mi	4/1.0	1,888 (-4%)	6mo	$228,000	$121	60
1124-1126 Henriette Delille St	0.71mi	4/2.0	2,071 (+5%)	2mo	$157,000	$76	57
2216-18 Saint Louis St	0.41mi	4/2.0	1,689 (-14%)	1mo	$335,000	$198	56
2617 Toulouse St	0.41mi	4/4.0	1,750 (-11%)	1mo	$215,000	$123	53
1722 24 St Ann St	0.39mi	4/3.5	2,240 (+14%)	1mo	$410,000	$183	52
2328 30 Bienville St	0.56mi	5/3.5 (+1)	2,115 (+7%)	2mo	$400,000	$189	49
1552 54 N Derbigny St	0.56mi	4/3.0	1,681 (-15%)	5mo	$330,000	$196	41

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: 7.8%
• Equity multiple: 1.30×
• Total profit: $16,947
• Equity at exit: $30,566

10-year hold

• IRR: 14.2%
• Equity multiple: 1.98×
• Total profit: $56,404
• Equity at exit: $17,725

Cash invested: $57,400 (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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $3,075 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$275 /mo · $3,297/yr
• Insurance: −$85
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$646
• Net cashflow: $928

Break-even live

Break-even rent $1,901

Max offer price $205,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,076
Total (2 units)			$3,075

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2129 Dumaine St New Orleans, LA	3.0	2.0	1226	$1,850	$1.51	3d	1	0.10mi
1929 Dumaine St New Orleans, LA	3.0	1.0	1293	$1,500	$1.16	3d	1	0.20mi
2731 Saint Philip St Unit 2733 New Orleans, LA	4.0	2.0	2000	$2,600	$1.30	23d	1	0.42mi
2331 Columbus St New Orleans, LA	3.0	1.0	1976	$1,850	$0.94	23d	1	0.42mi
1908 Saint Louis St New Orleans, LA	3.0	3.0	1234	$2,300	$1.86	23d	1	0.45mi
2033 Conti St New Orleans, LA	3.0	3.0	1249	$2,250	$1.80	14d	1	0.45mi
2329 Laharpe St New Orleans, LA	3.0	1.0	1250	$1,000	$0.80	20d	1	0.48mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,500	$1.96	23d	1	0.49mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,300	$1.80	20d	1	0.49mi
2105 Bienville St New Orleans, LA	3.0	3.0	1231	$2,350	$1.91	17d	1	0.50mi
1433 Esplanade Ave New Orleans, LA	3.0	2.0	2411	$5,000	$2.07	2d	1	0.52mi
324 N Roman St New Orleans, LA	3.0	3.0	2100	$2,500	$1.19	44d	1	0.53mi
824 N Dupre St New Orleans, LA	3.0	2.0	1315	$2,250	$1.71	17d	1	0.53mi
2024 Bienville St New Orleans, LA	3.0	2.0	1314	$2,100	$1.60	23d	1	0.54mi
1472 N Claiborne Ave New Orleans, LA	3.0	1.0	1312	$1,900	$1.45	16d	1	0.54mi
2664 Lepage St New Orleans, LA	3.0	2.0	1750	$2,725	$1.56	44d	1	0.56mi
1466 N White St New Orleans, LA	3.0	1.5	1500	$2,250	$1.50	3d	1	0.67mi
2738 Bienville St New Orleans, LA	4.0	3.0	1671	$2,200	$1.32	23d	1	0.67mi
1021 Henriette Delille St New Orleans, LA	3.0	2.0	2012	$2,250	$1.12	17d	1	0.68mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	0.70mi
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	0.70mi
1217 Kerlerec St Unit B New Orleans, LA	3.0	1.0	1300	$2,100	$1.62	3d	1	0.73mi
3024 Esplanade Ave New Orleans, LA	3.0	2.5	2300	$4,500	$1.96	44d	1	0.75mi
2517 Palmyra St New Orleans, LA	3.0	2.0	1306	$2,100	$1.61	17d	1	0.82mi
618 N Rampart St #204 New Orleans, LA	3.0	2.5	1904	$4,500	$2.36	44d	1	0.82mi
811 Burgundy St New Orleans, LA	4.0	2.5	2059	$5,000	$2.43	44d	1	0.84mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	44d	1	0.87mi
326 S Dorgenois St Unit 326 New Orleans, LA	4.0	3.0	1510	$2,300	$1.52	2d	1	0.88mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	3d	1	0.91mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	3d	1	0.91mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	0.95mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	0.95mi
734 Ursulines Ave New Orleans, LA	3.0	2.0	1340	$2,800	$2.09	44d	1	0.98mi
2912 Palmyra St Unit D New Orleans, LA	3.0	2.0	1257	$1,650	$1.31	23d	1	0.99mi
227 S Gayoso St Unit 2h New Orleans, LA	3.0	2.0	1800	$2,500	$1.39	44d	1	0.99mi
1011 Canal St Unit 1513939P New Orleans, LA	4.0	4.0	1765	$11,253	$6.38	23d	1	1.03mi
1011 Canal St Unit 1513926P New Orleans, LA	1.0–4.0	1.0–4.0	1016	$12,077	$11.88	2d	2	1.03mi
939 Iberville St New Orleans, LA	1.0–3.0	1.0	1502	$3,800	$2.53	12d	7	1.04mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	23d	1	1.07mi
810 Bienville St New Orleans, LA	1.0–3.0	1.0–2.0	995	$2,688	$2.70	3d	9	1.07mi

Listing history 31 events

1. 2026-06-18
   days on market $205,000 Active 57 DOM
2. 2026-06-17
   days on market $205,000 Active 56 DOM
3. 2026-06-16
   days on market $205,000 Active 55 DOM
4. 2026-06-15
   days on market $205,000 Active 54 DOM
5. 2026-06-13
   pricedays on market $205,000 Active 52 DOM
6. 2026-06-10
   days on market $215,000 Active 49 DOM
7. 2026-06-09
   days on market $215,000 Active 48 DOM
8. 2026-06-08
   days on market $215,000 Active 47 DOM
9. 2026-06-07
   days on market $215,000 Active 46 DOM
10. 2026-06-05
    days on market $215,000 Active 43 DOM
11. 2026-06-03
    days on market $215,000 Active 42 DOM
12. 2026-06-02
    days on market $215,000 Active 41 DOM
13. 2026-06-01
    days on market $215,000 Active 40 DOM
14. 2026-05-31
    days on market $215,000 Active 39 DOM
15. 2026-04-22
    listed $215,000 Active 662-char remark

    Show marketing remark (672 chars)

    Welcome to 1022 N Miro St — a prime investment opportunity in the heart of New Orleans! This charming duplex offers an excellent opportunity for both homeowners and investors. Each unit features two spacious bedrooms and one full bathroom, thoughtfully designed for comfort and functionality. Enjoy modern conveniences such as a dishwasher, in-unit laundry, and a fenced yard—perfect for privacy and outdoor living. Additional highlights include an alarm system and a desirable location near local parks. Whether you're looking to live in one unit and rent out the other or add a strong performer to your investment portfolio, 1022 N Miro St is a smart choice.

16. 2026-04-22
    listed $215,000 Active 672-char remark

    Show marketing remark (672 chars)

    Welcome to 1022 N Miro St — a prime investment opportunity in the heart of New Orleans! This charming duplex offers an excellent opportunity for both homeowners and investors. Each unit features two spacious bedrooms and one full bathroom, thoughtfully designed for comfort and functionality. Enjoy modern conveniences such as a dishwasher, in-unit laundry, and a fenced yard—perfect for privacy and outdoor living. Additional highlights include an alarm system and a desirable location near local parks. Whether you're looking to live in one unit and rent out the other or add a strong performer to your investment portfolio, 1022 N Miro St is a smart choice.

17. 2026-03-28
    status Active
18. 2026-01-15
    price $250,000
19. 2026-01-15
    price $250,000
20. 2025-12-11
    price $275,000
21. 2025-12-11
    price $275,000
22. 2025-11-12
    price $295,000
23. 2025-11-11
    historical $1,300
24. 2025-11-10
    price $295,000
25. 2025-10-26
    price $305,000
26. 2025-10-26
    price $305,000
27. 2025-10-10
    listed $325,000 Active
28. 2025-09-11
    listed $1,300
29. 2020-03-13
    price $299,000
30. 2020-01-25
    price $315,000
31. 2007-03-06
    soldstatus $60,000

ⓘ 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: $3,297 · $275/mo
• Projected year-2 tax: $3,297 · $275/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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,900
• − Mortgage interest: −$11,483
• − Property taxes: −$3,297
• − Insurance: −$1,822
• − Repairs & maintenance: −$2,952
• − Management: −$2,952
• − Depreciation: −$5,964
• Taxable income: $8,430
• Est. tax owed @ 24.0%: −$2,023
• After-tax cash flow: $9,108/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): 37,253
• Household income: $53,143
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3381.0

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 0.64)
• Race & ethnicity: Black 44% White 40% Two or more races 10% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 0%

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: ▼ -135.38%
• Current HPI: 253.1929
• Rent YoY: ▼ -0.20%
• 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

+258.3% since first listed

17 events — show timeline

• 2026-04-22 Listed $215,000 GSREIN
• 2026-04-22 Listed $215,000 AcadianaMLS
• 2026-03-28 Relisted — AcadianaMLS
• 2026-01-15 Price Changed $250,000 AcadianaMLS
• 2026-01-15 Price Changed $250,000 GSREIN
• 2025-12-11 Price Changed $275,000 AcadianaMLS
• 2025-12-11 Price Changed $275,000 GSREIN
• 2025-11-12 Price Changed $295,000 AcadianaMLS
• 2025-11-11 Rental Removed $1,300 TURBOTENANT
• 2025-11-10 Price Changed $295,000 GSREIN
• 2025-10-26 Price Changed $305,000 AcadianaMLS
• 2025-10-26 Price Changed $305,000 GSREIN
• 2025-10-10 Listed $325,000 AcadianaMLS
• 2025-09-11 Listed for Rent $1,300 TURBOTENANT
• 2020-03-13 Price Changed $299,000 GSREIN
• 2020-01-25 Price Changed $315,000 GSREIN
• 2007-03-06 Sold (Public Records) $60,000 Public Records

Property tax history

+9.3%/yr

Latest (2026): $3,297 · +1.1% YoY. Source: county tax records.