2336-38 Lapeyrouse St · New Orleans, LA 70119

$99,000

2 bd · 2.0 ba · 1,200 sqft · MultiFamily public records · 45 Days on market

Built 1958 $82/sqft · 55% below area ↓ 43% since listing

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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 +7.5/15.0
• 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

Exceptional income-producing duplex opportunity in the heart of New Orleans' storied Seventh Ward! This classic double, built in the 1950's, offers living space across two units -- ideal for the savvy investor or owner-occupant looking to offset their mortgage. Each side features generous room proportions with the timeless character and charm that define historic New Orleans architecture. Located on a tree-lined street in a walkable, bike-friendly neighborhood, the property sits just minutes from the French Quarter, Mid-City, and the vibrant corridors of St. Bernard Ave and St. Claude Ave. Nearby Dillard University, University Medical Center, and the New Orleans Botanical Garden in City Park round out an unbeatable location with strong rental demand. Whether you're building your portfolio or planting roots in one of New Orleans' most authentic neighborhoods, 2336-38 Lapeyrouse delivers the culture, convenience, and cash flow you've been looking for. Properties like this don't last -- schedule your showing today!

Key facts

• Strong rental demand
• Tree lined street
• Built 1958

Tags

• INCOME PRODUCING DUPLEX
• TREE LINED STREET
• STRONG RENTAL DEMAND
• NEARBY DILLARD UNIVERSITY
• NEARBY BOTANICAL GARDEN

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story; Entry level on raised slab; Vinyl siding
• Construction: Built with vinyl siding; Asphalt shingle roof; Raised and slab foundation
• Exterior features: Corner lot; City lot; Lot dimensions approximately 33 x 93

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Average condition

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $99k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $882/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 28.5% 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 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 $3,399/mo this rent would consume 77% 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 $684 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; flood insurance adds $66/mo; built in 1958 — 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 $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 3.43% ✓
• Cap rate: 28.47%
• Cash-on-cash: 79.20%
• DSCR: 4.52
• GRM: 2.4

CMA / ARV

• ARV (median comp): $224,456
• List price: $99,000
• Delta: -55.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1624 N Miro St	0.15mi	2/2.0	1,325 (+10%)	10mo	$105,000	$79	68
1128-30 N Roman St	0.58mi	2/2.0	1,173 (-2%)	2mo	$255,000	$217	68
2326-28 Lapeyrouse St	0.01mi	2/2.0	1,070 (-11%)	20mo	$100,000	$93	65
2205-07 St Philip St	0.56mi	2/2.0	1,100 (-8%)	6mo	$165,000	$150	55
2201 03 St Ann St	0.70mi	2/2.0	1,310 (+9%)	6mo	$234,000	$179	47
1719-21 Governor Nicholls St	0.63mi	3/2.0 (+1)	1,326 (+10%)	20mo	$160,000	$121	32

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: 72.6%
• Equity multiple: 4.12×
• Total profit: $86,481
• Equity at exit: $14,761

10-year hold

• IRR: 75.5%
• Equity multiple: 7.57×
• Total profit: $182,201
• Equity at exit: $8,560

Cash invested: $27,720 (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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $3,399 high
• Mortgage (P&I): −$519
• Tax from tax record: −$295 /mo · $3,544/yr
• Insurance: −$41
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$714
• Net cashflow: $1,763

Break-even live

Break-even rent $1,167

Max offer price $99,000

Occupancy floor 43%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,398
Total (2 units)			$3,399

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2329 Laharpe St New Orleans, LA	3.0	1.0	1250	$1,000	$0.80	20d	1	0.03mi
1634 N Rocheblave St New Orleans, LA	2.0	1.0	900	$1,400	$1.56	23d	1	0.09mi
1433 N Miro St New Orleans, LA	1.0	2.0	1227	$2,000	$1.63	10d	1	0.23mi
2525 D'Abadie St New Orleans, LA	2.0	1.0	960	$1,400	$1.46	20d	1	0.24mi
2525 D'Abadie St Unit 2525 New Orleans, LA	2.0	1.0	1000	$1,500	$1.50	20d	1	0.24mi
1525 N Broad St New Orleans, LA	3.0	1.0	1100	$1,600	$1.45	23d	1	0.24mi
1735 N Tonti St New Orleans, LA	3.0	1.0	1197	$1,650	$1.38	23d	1	0.24mi
2624 Laharpe St New Orleans, LA	2.0	1.0	950	$1,500	$1.58	23d	1	0.25mi
1627 N Johnson St New Orleans, LA	2.0	1.0	841	$1,250	$1.49	23d	1	0.26mi
2015 Kerlerec St Unit 2015 New Orleans, LA	2.0	1.0	819	$2,050	$2.50	23d	1	0.28mi
1401 N Galvez St New Orleans, LA	2.0	1.0	1150	$2,600	$2.26	3d	1	0.29mi
1401 N Galvez St New Orleans, LA	2.0	1.0	1150	$2,600	$2.26	3d	1	0.29mi
1660 Paul Morphy St New Orleans, LA	2.0	1.0	863	$1,500	$1.74	23d	1	0.31mi
1232 N Dorgenois St New Orleans, LA	2.0	2.0	1323	$1,800	$1.36	23d	1	0.33mi
1228 N Dorgenois St New Orleans, LA	2.0	1.0	900	$1,800	$2.00	3d	1	0.33mi
1424 N Johnson St New Orleans, LA	2.0	1.0	1100	$1,400	$1.27	23d	1	0.34mi
1776 N Miro St New Orleans, LA	2.0	1.0	700	$1,100	$1.57	23d	1	0.36mi
1527 N Roman St Unit C New Orleans, LA	1.0	1.0	895	$800	$0.89	23d	1	0.38mi
2109 A P Tureaud Ave New Orleans, LA	2.0	1.0	936	$1,450	$1.55	14d	1	0.38mi
1527 N Roman St Unit B New Orleans, LA	1.0	1.0	895	$900	$1.01	23d	1	0.38mi
1820 Kerlerec St New Orleans, LA	2.0	1.0	950	$1,600	$1.68	17d	1	0.40mi
2632 Oreilly St New Orleans, LA	3.0	1.5	950	$1,450	$1.53	23d	1	0.40mi
2517 Ursulines Ave New Orleans, LA	3.0	2.0	1136	$1,950	$1.72	23d	1	0.41mi
2836 Ponce De Leon St New Orleans, LA	1.0	1.0	900	$1,000	$1.11	23d	1	0.42mi
1466 N White St New Orleans, LA	3.0	1.5	1500	$2,250	$1.50	3d	1	0.43mi
2839 Maurepas St New Orleans, LA	2.0	1.0	808	$1,400	$1.73	23d	1	0.43mi
2305 A P Tureaud Ave Unit 2307 A P Tureaud New Orleans, LA	3.0	2.0	700	$2,112	$3.02	23d	1	0.43mi
1121 N Galvez St New Orleans, LA	2.0	1.0	1040	$1,400	$1.35	23d	1	0.44mi
2641 Ursulines Ave Unit A New Orleans, LA	2.0	1.0	1350	$2,200	$1.63	17d	1	0.44mi
1818 Paul Morphy St Unit B New Orleans, LA	3.0	2.0	1065	$1,800	$1.69	23d	1	0.44mi
1818 Esplanade Ave Unit 1B New Orleans, LA	2.0	1.0	700	$2,200	$3.14	23d	1	0.45mi
2332 Ursulines Ave Unit B New Orleans, LA	2.0	1.0	700	$1,400	$2.00	23d	1	0.46mi
2332 Ursulines Ave Unit B New Orleans, LA	2.0	1.0	925	$1,425	$1.54	2d	1	0.46mi
2826 Aubry St New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	10d	1	0.46mi
1552 N Derbigny St New Orleans, LA	3.0	2.0	841	$2,100	$2.50	21d	1	0.47mi
1811 New Orleans St New Orleans, LA	2.0	2.0	900	$1,700	$1.89	3d	1	0.47mi
1435 N Derbigny St New Orleans, LA	2.0	2.0	1040	$1,600	$1.54	23d	1	0.48mi
2902 Aubry St New Orleans, LA	2.0	1.0	890	$1,350	$1.52	23d	1	0.49mi
1730 Allen St New Orleans, LA	2.0	1.0	920	$1,650	$1.79	23d	1	0.52mi
2426 Saint Philip St New Orleans, LA	2.0	1.0	849	$1,450	$1.71	23d	1	0.52mi

Listing history 23 events

1. 2026-06-18
   days on market $99,000 Active 45 DOM
2. 2026-06-17
   days on market $99,000 Active 44 DOM
3. 2026-06-16
   days on market $99,000 Active 43 DOM
4. 2026-06-15
   days on market $99,000 Active 42 DOM
5. 2026-06-13
   days on market $99,000 Active 40 DOM
6. 2026-06-10
   days on market $99,000 Active 37 DOM
7. 2026-06-09
   days on market $99,000 Active 36 DOM
8. 2026-06-08
   days on market $99,000 Active 35 DOM
9. 2026-06-07
   days on market $99,000 Active 34 DOM
10. 2026-06-05
    days on market $99,000 Active 31 DOM
11. 2026-06-03
    days on market $99,000 Active 30 DOM
12. 2026-06-02
    days on market $99,000 Active 29 DOM
13. 2026-06-01
    days on market $99,000 Active 28 DOM
14. 2026-05-31
    days on market $99,000 Active 27 DOM
15. 2026-05-04
    listed $99,000 Active 1027-char remark

    Show marketing remark (1027 chars)

    Exceptional income-producing duplex opportunity in the heart of New Orleans' storied Seventh Ward! This classic double, built in the 1950's, offers living space across two units -- ideal for the savvy investor or owner-occupant looking to offset their mortgage. Each side features generous room proportions with the timeless character and charm that define historic New Orleans architecture. Located on a tree-lined street in a walkable, bike-friendly neighborhood, the property sits just minutes from the French Quarter, Mid-City, and the vibrant corridors of St. Bernard Ave and St. Claude Ave. Nearby Dillard University, University Medical Center, and the New Orleans Botanical Garden in City Park round out an unbeatable location with strong rental demand. Whether you're building your portfolio or planting roots in one of New Orleans' most authentic neighborhoods, 2336-38 Lapeyrouse delivers the culture, convenience, and cash flow you've been looking for. Properties like this don't last -- schedule your showing today!

16. 2026-05-04
    listed $99,000 Active 1037-char remark

    Show marketing remark (1027 chars)

    Exceptional income-producing duplex opportunity in the heart of New Orleans' storied Seventh Ward! This classic double, built in the 1950's, offers living space across two units -- ideal for the savvy investor or owner-occupant looking to offset their mortgage. Each side features generous room proportions with the timeless character and charm that define historic New Orleans architecture. Located on a tree-lined street in a walkable, bike-friendly neighborhood, the property sits just minutes from the French Quarter, Mid-City, and the vibrant corridors of St. Bernard Ave and St. Claude Ave. Nearby Dillard University, University Medical Center, and the New Orleans Botanical Garden in City Park round out an unbeatable location with strong rental demand. Whether you're building your portfolio or planting roots in one of New Orleans' most authentic neighborhoods, 2336-38 Lapeyrouse delivers the culture, convenience, and cash flow you've been looking for. Properties like this don't last -- schedule your showing today!

17. 2021-08-10
    soldstatus $293,000
18. 2021-03-25
    soldstatus $295,000
19. 2019-09-03
    soldstatus $710,000
20. 2019-09-03
    soldstatus $265,000
21. 2008-09-15
    listed $110,000
22. 2008-03-11
    listed $140,000
23. 2002-10-21
    listed $174,900

ⓘ 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: $3,544 · $295/mo
• Projected year-2 tax: $3,544 · $295/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: $40,788
• − Mortgage interest: −$5,546
• − Property taxes: −$3,544
• − Insurance: −$1,292
• − Repairs & maintenance: −$3,263
• − Management: −$3,263
• − Depreciation: −$2,880
• Taxable income: $21,000
• Est. tax owed @ 24.0%: −$5,040
• After-tax cash flow: $16,116/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

-43.4% since first listed

9 events — show timeline

• 2026-05-04 Listed $99,000 GSREIN
• 2026-05-04 Listed $99,000 AcadianaMLS
• 2021-08-10 Sold (Public Records) $293,000 Public Records
• 2021-03-25 Sold (Public Records) $295,000 Public Records
• 2019-09-03 Sold (Public Records) $265,000 Public Records
• 2019-09-03 Sold (Public Records) $710,000 Public Records
• 2008-09-15 Listed $110,000 AcadianaMLS
• 2008-03-11 Listed $140,000 AcadianaMLS
• 2002-10-21 Listed $174,900 AcadianaMLS

Property tax history

+11.4%/yr

Latest (2026): $3,544 · -0.4% YoY. Source: county tax records.