5222-24 Dauphine St · New Orleans, LA 70117

$280,000

4 bd · 2.0 ba · 2,340 sqft · MultiFamily public records · 365 Days on market

Built 1960 2,003 sqft lot $120/sqft · 14% below area

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Why this score? — see what drove the C+ 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 +26.5/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• 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

Discover this stunning historic residence situated in the prestigious Holy Cross Historic District in New Orleans, Louisiana. This home boasts spacious rooms, ideal for entertaining and creating lasting memories with loved ones. Additionally, it presents a great investment opportunity. This 5-bedroom, 2-bathroom shotgun-style home promises exceptional comfort and joy to its new owner. Surrounded by top-rated schools in the district. Side A has undergone comprehensive renovations with modern upgrades, while Side B may require refurbishment and will be sold in its current condition. Don't miss the chance to schedule a viewing today. This is an opportunity you won't want to pass up! NO HOA!!!

Key facts

• Totally renovated
• Large rooms
• Historic home

Tags

• HISTORIC HOME
• HOLY CROSS HISTORIC DISTRICT
• LARGE ROOMS
• TOTALLY RENOVATED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $673 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 rising (+2.5%/yr); 581 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,190/mo this rent would consume 84% of the median local household income ($46k/yr) (locally 1988% 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 $2k of loan paydown is wiped out by about $8k 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 365 days — a 12% lower offer ($246k) 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.

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 $246,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 365 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 1960 — 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: 1.14% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.32%
• DSCR: 1.50
• GRM: 7.3

CMA / ARV

• ARV (median comp): $149,272
• List price: $280,000
• Delta: 87.58%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5340 42 Marais St	0.31mi	4/3.0	2,494 (+7%)	16mo	$150,000	$60	57
1429 31 Benton St	0.69mi	4/2.0	2,265 (-3%)	13mo	$230,000	$102	52

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: -1.4%
• Equity multiple: 0.95×
• Total profit: $-4,147
• Equity at exit: $41,749

10-year hold

• IRR: 7.7%
• Equity multiple: 1.57×
• Total profit: $44,939
• Equity at exit: $24,209

Cash invested: $78,400 (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 70117

• Rents YoY: 2.5%
• Active inventory: 581
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $3,190 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$196 /mo · $2,349/yr
• Insurance: −$117
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$670
• Net cashflow: $673

Break-even live

Break-even rent $2,338

Max offer price $280,000

Occupancy floor 74%

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	12d	1	0.88mi
6900 Royal St Arabi, LA	3.0	2.0	1579	$5,888	$3.73	3d	1	1.05mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.13mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.13mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.13mi
3400 Royal St New Orleans, LA	4.0	3.5	3300	$6,900	$2.09	44d	1	1.25mi
639 Desire St New Orleans, LA	3.0	2.5	2687	$5,500	$2.05	20d	1	1.26mi
1019 Center St Arabi, LA	5.0	3.0	1973	$5,888	$2.98	2d	1	1.32mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	24d	1	1.38mi
1239 Center St Arabi, LA	4.0	2.0	1922	$3,500	$1.82	3d	1	1.39mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	24d	1	1.44mi

Listing history 7 events

1. 2026-06-05
   days on market $280,000 Active 365 DOM
2. 2026-06-03
   days on market $280,000 Active 364 DOM
3. 2026-06-02
   days on market $280,000 Active 363 DOM
4. 2026-06-01
   days on market $280,000 Active 362 DOM
5. 2026-05-31
   days on market $280,000 Active 361 DOM
6. 2025-06-04
   listed $280,000 Active 699-char remark

   Show marketing remark (698 chars)

   Discover this stunning historic residence situated in the prestigious Holy Cross Historic District in New Orleans, Louisiana. This home boasts spacious rooms, ideal for entertaining and creating lasting memories with loved ones. Additionally, it presents a great investment opportunity. This 5-bedroom, 2-bathroom shotgun-style home promises exceptional comfort and joy to its new owner. Surrounded by top-rated schools in the district. Side A has undergone comprehensive renovations with modern upgrades, while Side B may require refurbishment and will be sold in its current condition. Don't miss the chance to schedule a viewing today. This is an opportunity you won't want to pass up! NO HOA!!!

7. 2025-06-04
   listed $280,000 Active 698-char remark

   Show marketing remark (698 chars)

   Discover this stunning historic residence situated in the prestigious Holy Cross Historic District in New Orleans, Louisiana. This home boasts spacious rooms, ideal for entertaining and creating lasting memories with loved ones. Additionally, it presents a great investment opportunity. This 5-bedroom, 2-bathroom shotgun-style home promises exceptional comfort and joy to its new owner. Surrounded by top-rated schools in the district. Side A has undergone comprehensive renovations with modern upgrades, while Side B may require refurbishment and will be sold in its current condition. Don't miss the chance to schedule a viewing today. This is an opportunity you won't want to pass up! NO HOA!!!

ⓘ 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: $2,349 · $196/mo
• Projected year-2 tax: $2,349 · $196/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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,281
• − Mortgage interest: −$15,684
• − Property taxes: −$2,349
• − Insurance: −$2,198
• − Repairs & maintenance: −$3,062
• − Management: −$3,062
• − Depreciation: −$8,145
• Taxable income: $3,780
• Est. tax owed @ 24.0%: −$907
• After-tax cash flow: $7,168/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): 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

+0.0% since first listed

2 events — show timeline

• 2025-06-04 Listed $280,000 GBRMLS
• 2025-06-04 Listed $280,000 AcadianaMLS

Property tax history

+37.0%/yr

Latest (2026): $2,349 · +3863.0% YoY. Source: county tax records.