1700 Piety St · New Orleans, LA 70117

$110,000

2 bd · 2.0 ba · 1,224 sqft · MultiFamily public records · 42 Days on market

Built 1930 $90/sqft · 29% below area Est $189k · 42% under ↓ 12% 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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• 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

Spacious income-producing duplex located in the desirable Upper Ninth Ward! Each unit features 1 bedroom and 1 full bath, complete with gas stove and refrigerator. Ideal opportunity to live on one side while leasing the other for passive income potential. Property offers off-street parking and convenient access to local amenities, shopping, dining, and transportation. Great opportunity for investors or owner-occupants looking to build wealth through real estate!

Key facts

• Off street parking
• 2 parking spots
• Built 1930

Tags

• INCOME PRODUCING DUPLEX
• OFF STREET PARKING

Property features AI

Finance

• HOA & community: Public transportation access

Exterior

• Parking: Off-street parking; Driveway with two spaces
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-story; Average condition; Raised foundation
• Construction: Brick, stucco, and vinyl siding exterior; Asphalt roof; Raised foundation
• Exterior features: Corner city lot; Apartment (separate structure on property)

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Total of 9 rooms (includes bedroom count within room total)
• Bathrooms: 2 full bathrooms
• Interior features: Smoke detectors installed; Permeable paving; Fence
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $110k.

Deal economics

• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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.
• Market conditions: Rents rising (+2.5%/yr); 581 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).
• This rent runs 39% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 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 + 2.5% rent growth), your $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 3 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; 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.36% ✓
• Cap rate: 10.97%
• Cash-on-cash: 16.72%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

• ARV (median comp): $189,071
• List price: $110,000
• Delta: -41.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1643 Montegut St	0.25mi	2/2.0	1,070 (-13%)	3mo	$169,000	$158	65
1224 26 Mazant St	0.56mi	2/2.0	1,376 (+12%)	2mo	$245,000	$178	52
2901-03 N Rocheblave St	0.68mi	2/2.0	1,344 (+10%)	5mo	$40,000	$30	47

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: 3.9%
• Equity multiple: 1.15×
• Total profit: $4,565
• Equity at exit: $16,401

10-year hold

• IRR: 12.9%
• Equity multiple: 2.00×
• Total profit: $30,850
• Equity at exit: $9,511

Cash invested: $30,800 (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 70117

• Rents YoY: 2.5%
• Active inventory: 581
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,500 high
• Mortgage (P&I): −$577
• Tax from tax record: −$133 /mo · $1,599/yr
• Insurance: −$46
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $363

Break-even live

Break-even rent $1,041

Max offer price $110,000

Occupancy floor 71%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1614 Louisa St New Orleans, LA	2.0	1.0	733	$1,100	$1.50	24d	1	0.07mi
3125 Industrial Ct New Orleans, LA	2.0	2.5	1100	$1,450	$1.32	24d	1	0.12mi
1822 Piety St New Orleans, LA	3.0	1.5	1200	$1,500	$1.25	16d	1	0.12mi
1713 Gallier St Unit B New Orleans, LA	2.0	1.0	1000	$1,099	$1.10	24d	1	0.15mi
1715 Gallier St Unit B New Orleans, LA	2.0	1.0	1000	$1,099	$1.10	24d	1	0.15mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	16d	1	0.16mi
1904 Desire St New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	10d	1	0.19mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	21d	1	0.21mi
3133 N Villere St New Orleans, LA	2.0	1.0	715	$1,250	$1.75	24d	1	0.23mi
1942 Piety St New Orleans, LA	3.0	1.0	1100	$1,500	$1.36	24d	1	0.23mi
2019 Louisa St New Orleans, LA	3.0	1.0	750	$1,500	$2.00	17d	1	0.27mi
2017 Louisa St New Orleans, LA	3.0	1.0	750	$1,300	$1.73	17d	1	0.27mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	24d	1	0.29mi
1905 Montegut St New Orleans, LA	2.0	1.5	870	$1,275	$1.47	24d	1	0.30mi
3201 N Galvez St Unit 2B New Orleans, LA	2.0	1.0	700	$1,250	$1.79	24d	1	0.32mi
1320 Feliciana St New Orleans, LA	2.0	2.0	1200	$2,000	$1.67	24d	1	0.33mi
1244 Clouet St New Orleans, LA	2.0	1.0	950	$1,500	$1.58	24d	1	0.33mi
2027 Feliciana St New Orleans, LA	2.0	1.0	1104	$1,100	$1.00	16d	1	0.34mi
1225 Clouet St Unit 1225 New Orleans, LA	2.0	2.0	900	$1,600	$1.78	24d	1	0.34mi
1217 Clouet St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	24d	1	0.35mi
1211 Gallier St New Orleans, LA	2.0	1.0	900	$1,000	$1.11	24d	1	0.37mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	3d	1	0.38mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	3d	1	0.38mi
1634 Bartholomew St New Orleans, LA	2.0	1.0	900	$1,300	$1.44	24d	1	0.38mi
1628 Bartholomew St New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	24d	1	0.38mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	16d	1	0.41mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	24d	1	0.41mi
3027 Saint Claude Ave Unit B New Orleans, LA	1.0	1.0	784	$1,795	$2.29	24d	1	0.45mi
3025 Saint Claude Ave New Orleans, LA	2.0	2.0	1224	$1,950	$1.59	24d	1	0.46mi
2010 Saint Ferdinand St New Orleans, LA	2.0	1.0	909	$1,650	$1.82	24d	1	0.49mi
1019 Clouet St New Orleans, LA	2.0	1.0	880	$1,700	$1.93	24d	1	0.50mi
935 Louisa St New Orleans, LA	1.0	1.0	810	$1,500	$1.85	24d	1	0.52mi
1034 Montegut St Unit 1034 New Orleans, LA	2.0	2.0	1415	$3,400	$2.40	44d	1	0.53mi
933 Louisa St New Orleans, LA	2.0	1.0	800	$1,700	$2.12	24d	1	0.53mi
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	24d	1	0.54mi
2625 Urquhart St New Orleans, LA	2.0	1.0	810	$1,100	$1.36	17d	1	0.55mi
1119 Bartholomew St Unit 1119 New Orleans, LA	2.0	2.0	1410	$2,500	$1.77	44d	1	0.56mi
1121 Bartholomew St Unit 1121 New Orleans, LA	2.0	1.0	893	$2,000	$2.24	24d	1	0.56mi
2003 Almonaster Ave New Orleans, LA	3.0	2.0	988	$1,600	$1.62	24d	1	0.56mi
1226 Port St New Orleans, LA	3.0	1.0	1023	$1,650	$1.61	24d	1	0.56mi

Listing history 21 events

1. 2026-06-18
   days on market $110,000 Active 42 DOM
2. 2026-06-17
   days on market $110,000 Active 41 DOM
3. 2026-06-16
   days on market $110,000 Active 40 DOM
4. 2026-06-15
   days on market $110,000 Active 39 DOM
5. 2026-06-13
   days on market $110,000 Active 37 DOM
6. 2026-06-10
   days on market $110,000 Active 34 DOM
7. 2026-06-09
   days on market $110,000 Active 33 DOM
8. 2026-06-08
   days on market $110,000 Active 32 DOM
9. 2026-06-07
   days on market $110,000 Active 31 DOM
10. 2026-06-05
    days on market $110,000 Active 28 DOM
11. 2026-06-03
    days on market $110,000 Active 27 DOM
12. 2026-06-02
    days on market $110,000 Active 26 DOM
13. 2026-06-01
    days on market $110,000 Active 25 DOM
14. 2026-05-31
    days on market $110,000 Active 24 DOM
15. 2026-05-07
    listed $110,000 Active 466-char remark

    Show marketing remark (466 chars)

    Spacious income-producing duplex located in the desirable Upper Ninth Ward! Each unit features 1 bedroom and 1 full bath, complete with gas stove and refrigerator. Ideal opportunity to live on one side while leasing the other for passive income potential. Property offers off-street parking and convenient access to local amenities, shopping, dining, and transportation. Great opportunity for investors or owner-occupants looking to build wealth through real estate!

16. 2026-05-07
    listed $110,000 Active 466-char remark

    Show marketing remark (466 chars)

    Spacious income-producing duplex located in the desirable Upper Ninth Ward! Each unit features 1 bedroom and 1 full bath, complete with gas stove and refrigerator. Ideal opportunity to live on one side while leasing the other for passive income potential. Property offers off-street parking and convenient access to local amenities, shopping, dining, and transportation. Great opportunity for investors or owner-occupants looking to build wealth through real estate!

17. 2026-01-07
    price $115,000
18. 2026-01-07
    price $115,000
19. 2025-10-28
    price $119,000
20. 2025-10-28
    price $119,000
21. 2025-08-26
    listed $125,000 Active

ⓘ 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: $1,599 · $133/mo
• Projected year-2 tax: $1,599 · $133/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 · 22 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: $18,000
• − Mortgage interest: −$6,162
• − Property taxes: −$1,599
• − Insurance: −$1,348
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$3,200
• Taxable income: $2,812
• Est. tax owed @ 24.0%: −$675
• After-tax cash flow: $3,676/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

-12.0% since first listed

7 events — show timeline

• 2026-05-07 Listed $110,000 GSREIN
• 2026-05-07 Listed $110,000 AcadianaMLS
• 2026-01-07 Price Changed $115,000 AcadianaMLS
• 2026-01-07 Price Changed $115,000 GSREIN
• 2025-10-28 Price Changed $119,000 AcadianaMLS
• 2025-10-28 Price Changed $119,000 GSREIN
• 2025-08-26 Listed $125,000 AcadianaMLS

Property tax history

+31.0%/yr

Latest (2026): $1,599 · +1.1% YoY. Source: county tax records.