6821 Mayo Rd · New Orleans, LA 70126

$310,000

8 bd · 4.0 ba · 4,601 sqft · MultiFamily public records · 26 Days on market

Built 1981 Est $299k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.9/15.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 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: 4 units. confirmed

Listing remarks MLS

Solid 4-plex rental property located just minutes from the Crowder Road I-10 ramps. Mostly all brick construction with all utilities on individual meters.

Key facts

• Individual meters
• Parking
• Built 1981

Tags

• 4-PLEX RENTAL PROPERTY
• ALL BRICK CONSTRUCTION
• INDIVIDUAL METERS

Property features AI

Finance

• Other:
• Financial info: 4 total units; Tenants pay electricity, gas, and water
• HOA & community:

Exterior

• Parking: Carport
• Security:
• Utilities: Public water; Public sewer
• Home design: 2-story building; New construction in 1981
• Construction: Brick and vinyl siding exterior; Shingle roof; Slab foundation; Average condition
• Exterior features: Fenced yard; City lot; Rectangular lot (54 x 140)

Interior

• Kitchen:
• Bedrooms:
• Flooring:
• Bathrooms: 5 full bathrooms; 2 half bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Screened windows
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.5-bath units multifamily listed at $310k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $611/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $310k).
• Recommended offer: $305k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.0% 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 (-0.2%/yr); 224 active listings in the ZIP; lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 $87k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• 2 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 $152k; list at $310k implies a 104% gain — meaningful room to come down on a strong offer.

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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $305,350 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 16.01%
• Cash-on-cash: 34.70%
• DSCR: 2.54
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $299,065
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6816 W Coronet Ct	0.03mi	9/8.0 (+1)	4,601 (0%)	18mo	$340,000	$74	64
6833 E Coronet Ct	0.27mi	8/6.0	4,224 (-8%)	2mo	$254,375	$60	64
7874 S Coronet Ct	0.27mi	8/6.0	4,000 (-13%)	17mo	$260,000	$65	43
4623-25 Wilson Ave	0.60mi	8/8.0	4,052 (-12%)	9mo	$255,000	$63	28

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: 25.8%
• Equity multiple: 2.02×
• Total profit: $88,942
• Equity at exit: $46,222

10-year hold

• IRR: 31.6%
• Equity multiple: 3.47×
• Total profit: $214,228
• Equity at exit: $26,803

Cash invested: $86,800 (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 70126

• Home prices YoY: -17.0%
• Rents YoY: -0.2%
• Active inventory: 224
• Price-to-rent: 18.4×

Monthly cashflow live

• Estimated rent: $5,616 high
• Mortgage (P&I): −$1,626
• Tax from tax record: −$172 /mo · $2,060/yr
• Insurance: −$129
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,179
• Net cashflow: $2,444

Break-even live

Break-even rent $2,523

Max offer price $310,000

Occupancy floor 51%

Sensitivity live

Price	-10% $2,619	-5% $2,531	+0% $2,444	+5% $2,356	+10% $2,268
Rent	-10% $2,000	-5% $2,222	+0% $2,444	+5% $2,666	+10% $2,887
Rate	-1.0pp $2,600	-0.5pp $2,523	base $2,444	+0.5pp $2,363	+1.0pp $2,282

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$5,616
Total (4 units)			$5,616

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $310,000 Active 26 DOM
2. 2026-06-18
   days on market $310,000 Active 23 DOM
3. 2026-06-17
   days on market $310,000 Active 22 DOM
4. 2026-06-16
   days on market $310,000 Active 21 DOM
5. 2026-06-15
   days on market $310,000 Active 20 DOM
6. 2026-06-13
   days on market $310,000 Active 18 DOM
7. 2026-06-10
   days on market $310,000 Active 15 DOM
8. 2026-06-09
   days on market $310,000 Active 14 DOM
9. 2026-06-08
   days on market $310,000 Active 13 DOM
10. 2026-06-07
    days on market $310,000 Active 12 DOM
11. 2026-06-05
    days on market $310,000 Active 9 DOM
12. 2026-06-03
    days on market $310,000 Active 8 DOM
13. 2026-06-02
    days on market $310,000 Active 7 DOM
14. 2026-06-01
    days on market $310,000 Active 6 DOM
15. 2026-05-31
    days on market $310,000 Active 5 DOM
16. 2026-05-26
    listed $310,000 Active

    Show marketing remark (154 chars)

    Solid 4-plex rental property located just minutes from the Crowder Road I-10 ramps. Mostly all brick construction with all utilities on individual meters.

17. 2026-05-26
    listed $310,000 Active 154-char remark

    Show marketing remark (154 chars)

    Solid 4-plex rental property located just minutes from the Crowder Road I-10 ramps. Mostly all brick construction with all utilities on individual meters.

18. 1979-05-03
    soldstatus $151,800

ⓘ 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: $2,060 · $172/mo
• Projected year-2 tax: $2,060 · $172/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 ≥107°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: $67,392
• − Mortgage interest: −$17,365
• − Property taxes: −$2,060
• − Insurance: −$2,348
• − Repairs & maintenance: −$5,391
• − Management: −$5,391
• − Depreciation: −$9,018
• Taxable income: $25,819
• Est. tax owed @ 24.0%: −$6,197
• After-tax cash flow: $23,128/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): 27,047
• Household income: $41,709
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 1767.0

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: Predominantly Black (85%)
• Race & ethnicity: Black 85% Hispanic / Latino 6% Two or more races 5% White 5%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 5% 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: ▼ -36.35%
• Current HPI: 177.355
• Rent YoY: ▼ -0.24%
• 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

+104.2% since first listed

3 events — show timeline

• 2026-05-26 Listed $310,000 AcadianaMLS
• 2026-05-26 Listed $310,000 GSREIN
• 1979-05-03 Sold (Public Records) $151,800 Public Records

Property tax history

-0.7%/yr

Latest (2026): $2,060 · +1.1% YoY. Source: county tax records.