528 30 Ptolemy St · New Orleans, LA 70114

$130,000

2 bd · 2.0 ba · 1,200 sqft · MultiFamily public records · 159 Days on market

Built 1930 $108/sqft · 22% below area Est $167k · 22% 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 +28.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• 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

GREAT INVESTMENT OPPORTUNITY IN HISTORIC ALGIERS. X FLOOD ZONE. 1 BLOCK AWAY FROM PARADE ROUTE AND 10 MINUTES FROM DOWNTOWN. GREAT TENANTS. QUIET TUCKED AWAY NEIGHBORHOOD.

Key facts

• Historic algiers
• Built 1930
• Listed 159 days

Tags

• HISTORIC ALGIERS
• QUIET TUCKED AWAY NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 (-0.7%/yr); 265 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); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $1,636/mo this rent would consume 45% of the median local household income ($43k/yr) (locally 2240% 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 $899 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.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 7y 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 $80k; list at $130k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1930 — 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 $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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: 1.26% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.55%
• DSCR: 1.60
• GRM: 6.6

CMA / ARV

• ARV (median comp): $167,424
• List price: $130,000
• Delta: -22.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-3,856
• Equity at exit: $19,383

10-year hold

• IRR: 2.9%
• Equity multiple: 1.18×
• Total profit: $6,601
• Equity at exit: $11,240

Cash invested: $36,400 (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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,636 high
• Mortgage (P&I): −$682
• Tax from tax record: −$145 /mo · $1,745/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $345

Break-even live

Break-even rent $1,200

Max offer price $130,000

Occupancy floor 74%

Sensitivity live

Price	-10% $418	-5% $381	+0% $345	+5% $308	+10% $271
Rent	-10% $215	-5% $280	+0% $345	+5% $409	+10% $474
Rate	-1.0pp $410	-0.5pp $378	base $345	+0.5pp $311	+1.0pp $277

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
718 Majestic Pl New Orleans, LA	3.0	2.0	1164	$1,785	$1.53	21d	1	0.20mi
1140 Teche St Apt B New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	24d	1	0.27mi
606 Drum St New Orleans, LA	3.0	2.0	1131	$2,350	$2.08	24d	1	0.28mi
1136 Brooklyn Ave New Orleans, LA	3.0	1.0	913	$1,600	$1.75	24d	1	0.30mi
507 Newton St New Orleans, LA	2.0	2.0	1150	$1,400	$1.22	24d	1	0.37mi
435 Homer St New Orleans, LA	1.0	1.0	950	$1,100	$1.16	24d	1	0.44mi
909 Atlantic Ave New Orleans, LA	2.0	1.0	741	$1,200	$1.62	24d	1	0.50mi
733 Elmira Ave New Orleans, LA	2.0	1.0	864	$1,100	$1.27	24d	1	0.56mi
620 Opelousas Ave Unit 103 New Orleans, LA	2.0	1.5	1000	$1,650	$1.65	3d	1	0.62mi
601 Vallette St New Orleans, LA	2.0	1.0	815	$1,600	$1.96	3d	1	0.67mi
740 Thayer Unit 2A New Orleans, LA	2.0	2.0	950	$1,350	$1.42	24d	1	0.67mi
625 Atlantic Ave New Orleans, LA	2.0	1.0	780	$1,400	$1.79	17d	1	0.67mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	44d	1	0.67mi
611 Pacific Ave New Orleans, LA	1.0	1.0	765	$1,799	$2.35	24d	1	0.68mi
724 Evelina St Unit B New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	17d	1	0.69mi
500 Powder St Unit B New Orleans, LA	2.0	1.0	1085	$1,600	$1.47	24d	1	0.72mi
521 Bouny St New Orleans, LA	2.0	1.0	950	$1,400	$1.47	24d	1	0.72mi
1510 Sumner St New Orleans, LA	2.0	1.0	950	$1,474	$1.55	16d	1	0.72mi
519 Bouny St New Orleans, LA	2.0	1.0	950	$1,400	$1.47	24d	1	0.72mi
537 Pacific Ave New Orleans, LA	2.0	1.0	750	$1,400	$1.87	3d	1	0.72mi
537 Pacific Ave New Orleans, LA	2.0	1.0	750	$1,400	$1.87	3d	1	0.72mi
540 Pacific Ave New Orleans, LA	1.0	1.0	900	$1,200	$1.33	24d	1	0.73mi
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	3d	1	0.73mi
543 Atlantic Ave New Orleans, LA	2.0	2.5	1430	$2,200	$1.54	24d	1	0.74mi
810 Whitney Ave New Orleans, LA	2.0	1.0	900	$1,250	$1.39	12d	1	0.75mi
517 Burmaster St Gretna, LA	2.0	1.0	900	$1,600	$1.78	44d	1	0.75mi
1108 Sumner St New Orleans, LA	3.0	1.5	1197	$1,500	$1.25	12d	1	0.78mi
731 Anson St Gretna, LA	1.0	1.0	750	$1,000	$1.33	44d	1	0.79mi
1418 Behrman Ave New Orleans, LA	2.0	1.0	876	$1,400	$1.60	16d	1	0.79mi
1421 Numa St Unit 1421 New Orleans, LA	3.0	2.0	861	$1,400	$1.63	24d	1	0.84mi
1421 23 Numa St New Orleans, LA	3.0	2.0	861	$1,400	$1.63	2d	1	0.85mi
1421 23 Numa St New Orleans, LA	3.0	2.0	861	$1,400	$1.63	15d	1	0.85mi
329 Belleville St New Orleans, LA	2.0	1.0	1014	$1,500	$1.48	24d	1	0.87mi
336 Elmira Ave New Orleans, LA	3.0	1.0	1250	$1,825	$1.46	24d	1	0.88mi
429 Pelican Ave New Orleans, LA	2.0	1.0	734	$1,490	$2.03	17d	1	0.88mi
325 Elmira Ave Unit 325 New Orleans, LA	3.0	1.5	1050	$1,525	$1.45	24d	1	0.89mi
311 Delaronde St New Orleans, LA	2.0	1.0	1120	$1,740	$1.55	24d	1	0.93mi
1107 S Peters St #101 New Orleans, LA	2.0	2.5	1454	$3,700	$2.54	16d	1	0.96mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	3d	1	0.96mi
1107 S Peters St #101 New Orleans, LA	2.0	2.5	1454	$3,700	$2.54	44d	1	0.97mi

Listing history 35 events

1. 2026-06-18
   days on market $130,000 Active 159 DOM
2. 2026-06-17
   days on market $130,000 Active 158 DOM
3. 2026-06-16
   days on market $130,000 Active 157 DOM
4. 2026-06-15
   days on market $130,000 Active 156 DOM
5. 2026-06-13
   days on market $130,000 Active 154 DOM
6. 2026-06-10
   days on market $130,000 Active 151 DOM
7. 2026-06-09
   days on market $130,000 Active 150 DOM
8. 2026-06-08
   days on market $130,000 Active 149 DOM
9. 2026-06-07
   days on market $130,000 Active 148 DOM
10. 2026-06-05
    days on market $130,000 Active 145 DOM
11. 2026-06-03
    days on market $130,000 Active 144 DOM
12. 2026-06-02
    days on market $130,000 Active 143 DOM
13. 2026-06-01
    days on market $130,000 Active 142 DOM
14. 2026-05-31
    days on market $130,000 Active 141 DOM
15. 2026-04-29
    status Active 171-char remark

    Show marketing remark (171 chars)

    GREAT INVESTMENT OPPORTUNITY IN HISTORIC ALGIERS. X FLOOD ZONE. 1 BLOCK AWAY FROM PARADE ROUTE AND 10 MINUTES FROM DOWNTOWN. GREAT TENANTS. QUIET TUCKED AWAY NEIGHBORHOOD.

16. 2026-03-04
    status Active 171-char remark

    Show marketing remark (171 chars)

    GREAT INVESTMENT OPPORTUNITY IN HISTORIC ALGIERS. X FLOOD ZONE. 1 BLOCK AWAY FROM PARADE ROUTE AND 10 MINUTES FROM DOWNTOWN. GREAT TENANTS. QUIET TUCKED AWAY NEIGHBORHOOD.

17. 2026-03-02
    status Pending 171-char remark

    Show marketing remark (171 chars)

    GREAT INVESTMENT OPPORTUNITY IN HISTORIC ALGIERS. X FLOOD ZONE. 1 BLOCK AWAY FROM PARADE ROUTE AND 10 MINUTES FROM DOWNTOWN. GREAT TENANTS. QUIET TUCKED AWAY NEIGHBORHOOD.

18. 2026-03-02
    status Pending 171-char remark

    Show marketing remark (171 chars)

    GREAT INVESTMENT OPPORTUNITY IN HISTORIC ALGIERS. X FLOOD ZONE. 1 BLOCK AWAY FROM PARADE ROUTE AND 10 MINUTES FROM DOWNTOWN. GREAT TENANTS. QUIET TUCKED AWAY NEIGHBORHOOD.

19. 2026-01-08
    listed $130,000 Active 171-char remark

    Show marketing remark (171 chars)

    GREAT INVESTMENT OPPORTUNITY IN HISTORIC ALGIERS. X FLOOD ZONE. 1 BLOCK AWAY FROM PARADE ROUTE AND 10 MINUTES FROM DOWNTOWN. GREAT TENANTS. QUIET TUCKED AWAY NEIGHBORHOOD.

20. 2026-01-08
    listed $130,000 Active 171-char remark

    Show marketing remark (171 chars)

    GREAT INVESTMENT OPPORTUNITY IN HISTORIC ALGIERS. X FLOOD ZONE. 1 BLOCK AWAY FROM PARADE ROUTE AND 10 MINUTES FROM DOWNTOWN. GREAT TENANTS. QUIET TUCKED AWAY NEIGHBORHOOD.

21. 2024-11-08
    listed $150,000 Active
22. 2020-03-20
    soldstatus $80,000 Closed
23. 2020-02-19
    status Pending
24. 2020-01-25
    price $90,000
25. 2020-01-25
    status Active
26. 2019-09-28
    historical
27. 2019-09-10
    price $82,700
28. 2019-08-30
    price $83,900
29. 2019-08-09
    status Active
30. 2019-07-29
    status Pending
31. 2019-07-25
    price $84,900
32. 2019-07-16
    listed $90,000
33. 2019-07-16
    listed $90,000 Active
34. 2016-08-10
    soldstatus $133,000
35. 1993-09-08
    soldstatus $70,000

ⓘ 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: $1,745 · $145/mo
• Projected year-2 tax: $1,745 · $145/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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,632
• − Mortgage interest: −$7,282
• − Property taxes: −$1,745
• − Insurance: −$1,448
• − Repairs & maintenance: −$1,571
• − Management: −$1,571
• − Depreciation: −$3,782
• Taxable income: $2,234
• Est. tax owed @ 24.0%: −$536
• After-tax cash flow: $3,599/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): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% 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: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

+85.7% since first listed

21 events — show timeline

• 2026-04-29 Relisted — AcadianaMLS
• 2026-03-04 Relisted — GSREIN
• 2026-03-02 Pending — AcadianaMLS
• 2026-03-02 Pending — GSREIN
• 2026-01-08 Listed $130,000 GSREIN
• 2026-01-08 Listed $130,000 AcadianaMLS
• 2024-11-08 Listed $150,000 AcadianaMLS
• 2020-03-20 Sold (MLS) $80,000 GSREIN
• 2020-02-19 Pending — GSREIN
• 2020-01-25 Price Changed $90,000 GSREIN
• 2020-01-25 Relisted — GSREIN
• 2019-09-28 Listing Removed — GSREIN
• 2019-09-10 Price Changed $82,700 GSREIN
• 2019-08-30 Price Changed $83,900 GSREIN
• 2019-08-09 Relisted — GSREIN
• 2019-07-29 Pending — GSREIN
• 2019-07-25 Price Changed $84,900 GSREIN
• 2019-07-16 Listed $90,000 GSREIN
• 2019-07-16 Listed $90,000 AcadianaMLS
• 2016-08-10 Sold (Public Records) $133,000 Public Records
• 1993-09-08 Sold (Public Records) $70,000 Public Records

Property tax history

+4.7%/yr

Latest (2026): $1,745 · +0.0% YoY. Source: county tax records.