2271-2273 N Claiborne Ave · New Orleans, LA 70117

$149,900

4 bd · 2.0 ba · 1,325 sqft · MultiFamily public records · 467 Days on market

Built 1930 $113/sqft · 34% below area Est $226k · 34% under ↓ 3% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 2 units. confirmed

Listing remarks

The subject property consists of a Double containing 1,325 square feet, on a 3,069 square foot lot. The lot measures 31X99. The property is facing N. Claiborne Avenue. It is zoned HU-RD2, Historic Urban Neighborhood Residential District. The adjacent lots located at 2275 N. Claiborne Avenue and 1614 Mandeville Street are also for sale for $79,900.

Key facts

• Parking
• Built 1930
• Listed 466 days

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $556/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.7% 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); 587 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,689/mo this rent would consume 71% 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 $1k 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.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 467 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 467 days. Have you received any prior offers? Is the seller open to a 12% 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 1930 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.79% ✓
• Cap rate: 15.72%
• Cash-on-cash: 33.68%
• DSCR: 2.50
• GRM: 4.6

CMA / ARV

• ARV (median comp): $225,947
• List price: $149,900
• Delta: -33.66%
• 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
2215 17 N Galvez St	0.36mi	4/2.0	1,300 (-2%)	5mo	$107,000	$82	76
1353 - 55 Annette St	0.51mi	4/2.0	1,300 (-2%)	1mo	$151,000	$116	72
1834 36 Marigny St	0.19mi	4/2.0	1,508 (+14%)	2mo	$215,000	$143	66
2245 47 N Galvez St	0.35mi	4/2.0	1,337 (+1%)	20mo	$141,000	$105	66
1627 - 1629 Urquhart St	0.55mi	4/2.0	1,366 (+3%)	7mo	$192,500	$141	63
2467/2469 N Tonti St	0.53mi	4/2.0	1,475 (+11%)	2mo	$175,000	$119	55
1441 Spain St	0.13mi	3/3.0 (-1)	1,193 (-10%)	17mo	$254,081	$213	54
1721 17 Arts St	0.32mi	4/2.0	1,494 (+13%)	14mo	$220,000	$147	52
1332 Port St	0.42mi	3/2.0 (-1)	1,475 (+11%)	6mo	$181,000	$123	51
2755 N Rocheblave St	0.72mi	4/2.0	1,408 (+6%)	8mo	$105,000	$75	49
2929 Saint Claude Ave	0.66mi	4/2.0	1,507 (+14%)	1mo	$155,000	$103	46
2617 19 Peace Ct	0.58mi	4/2.0	1,466 (+11%)	22mo	$207,000	$141	37

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: 26.2%
• Equity multiple: 2.08×
• Total profit: $45,164
• Equity at exit: $22,351

10-year hold

• IRR: 33.5%
• Equity multiple: 3.98×
• Total profit: $125,026
• Equity at exit: $12,961

Cash invested: $41,972 (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: 587
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,689 high
• Mortgage (P&I): −$786
• Tax from tax record: −$98 /mo · $1,172/yr
• Insurance: −$62
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $1,112

Break-even live

Break-even rent $1,282

Max offer price $149,900

Occupancy floor 54%

Sensitivity live

Price	-10% $1,196	-5% $1,154	+0% $1,112	+5% $1,069	+10% $1,027
Rent	-10% $899	-5% $1,005	+0% $1,112	+5% $1,218	+10% $1,324
Rate	-1.0pp $1,187	-0.5pp $1,150	base $1,112	+0.5pp $1,073	+1.0pp $1,033

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,690
Total (2 units)			$2,689

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 Marigny St Unit 1603 New Orleans, LA	3.0	2.0	988	$1,099	$1.11	4d	1	0.04mi
1603 Marigny St New Orleans, LA	3.0	2.0	988	$1,099	$1.11	4d	1	0.04mi
1710 Marigny St New Orleans, LA	3.0	2.0	1120	$1,750	$1.56	25d	1	0.10mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	25d	1	0.20mi
1636 Music St New Orleans, LA	3.0	1.0	900	$1,185	$1.32	17d	1	0.20mi
1809 Saint Roch Ave New Orleans, LA	3.0	1.0	949	$1,195	$1.26	18d	1	0.23mi
1910 Elysian Fields Ave New Orleans, LA	3.0	1.0	1000	$1,450	$1.45	25d	1	0.27mi
2519 N Derbigny St New Orleans, LA	3.0	1.0	994	$1,300	$1.31	22d	1	0.32mi
1923 N Robertson St New Orleans, LA	3.0	2.0	1051	$1,950	$1.86	4d	1	0.32mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	25d	1	0.36mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	4d	1	0.36mi
2115 Elysian Fields Ave Unit 2115 New Orleans, LA	3.0	1.0	1100	$1,450	$1.32	25d	1	0.38mi
1924 Painters St New Orleans, LA	3.0	1.0	920	$1,700	$1.85	4d	1	0.40mi
1922 Painters St New Orleans, LA	3.0	1.0	920	$1,700	$1.85	4d	1	0.40mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	4d	2	0.43mi
1226 Port St New Orleans, LA	3.0	1.0	1023	$1,650	$1.61	25d	1	0.45mi
2522 N Galvez St New Orleans, LA	3.0	2.0	1105	$1,675	$1.52	25d	1	0.46mi
2524 N Galvez St New Orleans, LA	3.0	2.5	1102	$1,800	$1.63	18d	1	0.46mi
2222 Saint Roch Ave New Orleans, LA	3.0	1.0	900	$1,200	$1.33	25d	1	0.46mi
2515 N Galvez St Unit 2515 New Orleans, LA	4.0	2.0	1200	$1,900	$1.58	25d	1	0.47mi
2515 N Galvez St New Orleans, LA	4.0	2.0	1200	$1,200	$1.00	11d	1	0.47mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	25d	1	0.49mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	25d	1	0.49mi
2322 Burgundy St Unit C New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	25d	1	0.52mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	17d	1	0.55mi
2003 Almonaster Ave New Orleans, LA	3.0	2.0	988	$1,600	$1.62	25d	1	0.55mi
632 Mandeville St Unit 2B New Orleans, LA	4.0	4.5	1337	$4,500	$3.37	18d	1	0.65mi
1217 Kerlerec St Unit B New Orleans, LA	3.0	1.0	1300	$2,100	$1.62	4d	1	0.70mi
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	45d	1	0.70mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	45d	1	0.70mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	0.70mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	0.70mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	45d	1	0.71mi
2338 Annette St Unit 1 New Orleans, LA	3.0	1.0	1150	$1,400	$1.22	21d	1	0.73mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	25d	1	0.75mi
1472 N Claiborne Ave New Orleans, LA	3.0	1.0	1312	$1,900	$1.45	17d	1	0.76mi
1418 Royal St Unit 1418 New Orleans, LA	4.0	2.0	1300	$2,450	$1.88	25d	1	0.76mi
882 Montegut St New Orleans, LA	1.0–3.0	1.0–2.0	826	$2,575	$3.12	45d	7	0.76mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	17d	1	0.84mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	25d	1	0.84mi

Listing history 22 events

1. 2026-06-21
   days on market $149,900 Active 467 DOM
2. 2026-06-18
   days on market $149,900 Active 464 DOM
3. 2026-06-17
   days on market $149,900 Active 463 DOM
4. 2026-06-16
   days on market $149,900 Active 462 DOM
5. 2026-06-15
   days on market $149,900 Active 461 DOM
6. 2026-06-13
   days on market $149,900 Active 459 DOM
7. 2026-06-10
   days on market $149,900 Active 456 DOM
8. 2026-06-09
   days on market $149,900 Active 455 DOM
9. 2026-06-08
   days on market $149,900 Active 454 DOM
10. 2026-06-07
    days on market $149,900 Active 453 DOM
11. 2026-06-05
    days on market $149,900 Active 450 DOM
12. 2026-06-03
    days on market $149,900 Active 449 DOM
13. 2026-06-02
    days on market $149,900 Active 448 DOM
14. 2026-06-01
    days on market $149,900 Active 447 DOM
15. 2026-05-31
    days on market $149,900 Active 446 DOM
16. 2024-07-23
    price $159,900
17. 2024-03-01
    listed $159,900 Active
18. 2024-02-16
    listed $149,900 Active
19. 2024-02-16
    listed $149,900 Active
20. 2023-07-17
    price $164,000
21. 2023-06-13
    listed $164,000
22. 2023-03-30
    listed $164,900

ⓘ 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: $1,172 · $98/mo
• Projected year-2 tax: $1,172 · $98/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 · 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: $32,268
• − Mortgage interest: −$8,397
• − Property taxes: −$1,172
• − Insurance: −$1,547
• − Repairs & maintenance: −$2,581
• − Management: −$2,581
• − Depreciation: −$4,361
• Taxable income: $11,629
• Est. tax owed @ 24.0%: −$2,791
• After-tax cash flow: $10,549/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

-3.0% since first listed

7 events — show timeline

• 2024-07-23 Price Changed $159,900 GSREIN
• 2024-03-01 Listed $159,900 AcadianaMLS
• 2024-02-16 Listed $149,900 AcadianaMLS
• 2024-02-16 Listed $149,900 GSREIN
• 2023-07-17 Price Changed $164,000 GSREIN
• 2023-06-13 Listed $164,000 AcadianaMLS
• 2023-03-30 Listed $164,900 AcadianaMLS

Property tax history

+1.3%/yr

Latest (2026): $1,172 · +1.1% YoY. Source: county tax records.