8820-22 Morrison Rd · New Orleans, LA 70127

$249,999

5 bd · 3.0 ba · 2,593 sqft · MultiFamily public records · 92 Days on market

Built 1978 7,192 sqft lot $96/sqft · 20% above area Est $209k · 20% over

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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 +26.7/30.0
• DSCR +9.1/10.0
• 1% rule +6.4/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• 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

NEW ORLEANS EAST SOLID BRICK DOUBLE FEATURING TWO SPACIOUS UNITS- ONE OFFERING 3 BEDROOMS AND 2 BATHS, THE OTHER 2 BEDROOMS AND 1 BATH. EACH UNIT INCLUDES ITS OWN SINGLE CAR GARAGE, SEPERATE DRIVEWAY AND INDIVIDUALLY FENCED BACK YARD FOR ADDED PRIVACY. PERFECT FOR OWNER OCCUPANTS-LIVE ON ONE SIDE WHILE THE OTHER HELPS OFFSET YOUR MORTGAGE-OR ADD THIS INCOME PRODUCING PROPERTY TO YOUR INVESTMENT PORTFOLIO.

Key facts

• Separate driveway
• Solid brick double
• 7,192 sq ft lot

Tags

• SOLID BRICK DOUBLE
• SEPARATE DRIVEWAY
• INDIVIDUALLY FENCED BACK YARD

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $608 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $227k (9.0% 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: 128 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,853/mo this rent would consume 84% of the median local household income ($41k/yr) (locally 2030% 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 92 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $77k; list at $250k implies a 225% gain — meaningful room to come down on a strong offer.

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 $227,499 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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: 9.53%
• Cash-on-cash: 11.56%
• DSCR: 1.51
• GRM: 7.3

CMA / ARV

• ARV (median comp): $208,862
• List price: $249,999
• Delta: 19.70%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7160 Bunker Hill Rd	0.14mi	5/3.0	2,718 (+5%)	7mo	$190,000	$70	79
7140 42 Boston Dr	0.13mi	5/3.0	2,648 (+2%)	14mo	$225,000	$85	78
7120 22 Bunker Hill Rd	0.18mi	5/3.0	2,450 (-6%)	6mo	$212,500	$87	77
7001-7003 Yorktown Dr	0.26mi	6/3.0 (+1)	2,706 (+4%)	1mo	$183,500	$68	75
7100 02 Bunker Hill Rd	0.20mi	5/3.0	2,450 (-6%)	8mo	$225,000	$92	75
7131 Yorktown Dr	0.14mi	5/3.0	2,814 (+8%)	7mo	$179,000	$64	74
7143 Boston Dr	0.15mi	5/3.0	2,648 (+2%)	20mo	$208,000	$79	73
9110 Morrison Rd	0.15mi	6/4.0 (+1)	2,528 (-2%)	13mo	$230,000	$91	69
8921 23 Gervais St	0.34mi	5/3.0	2,373 (-8%)	14mo	$194,000	$82	58
8601 Dinkins St	0.43mi	5/3.0	2,303 (-11%)	12mo	$160,000	$69	51
8830 32 Bunker Hill Rd	0.37mi	4/3.0 (-1)	2,400 (-7%)	23mo	$165,000	$69	46
9040 42 Bunker Hill Rd	0.38mi	6/3.0 (+1)	2,790 (+8%)	23mo	$179,250	$64	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.97×
• Total profit: $-1,812
• Equity at exit: $37,276

10-year hold

• IRR: 9.0%
• Equity multiple: 1.69×
• Total profit: $48,233
• Equity at exit: $21,615

Cash invested: $70,000 (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 70127

• Home prices YoY: -29.2%
• Active inventory: 128
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $2,853 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$165 /mo · $1,974/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$599
• Net cashflow: $608

Break-even live

Break-even rent $2,084

Max offer price $249,999

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,482
1× unit	2	1	$1,371
Total (2 units)			$2,853

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7063 Boston Dr New Orleans, LA	4.0	2.5	1750	$1,900	$1.09	16d	1	0.24mi

Listing history 16 events

1. 2026-06-18
   days on market $249,999 Active 92 DOM
2. 2026-06-17
   days on market $249,999 Active 91 DOM
3. 2026-06-16
   days on market $249,999 Active 90 DOM
4. 2026-06-15
   days on market $249,999 Active 89 DOM
5. 2026-06-13
   days on market $249,999 Active 87 DOM
6. 2026-06-10
   days on market $249,999 Active 84 DOM
7. 2026-06-09
   days on market $249,999 Active 83 DOM
8. 2026-06-08
   days on market $249,999 Active 82 DOM
9. 2026-06-07
   days on market $249,999 Active 81 DOM
10. 2026-06-05
    days on market $249,999 Active 78 DOM
11. 2026-06-03
    days on market $249,999 Active 77 DOM
12. 2026-06-02
    days on market $249,999 Active 76 DOM
13. 2026-06-01
    days on market $249,999 Active 75 DOM
14. 2026-05-31
    days on market $249,999 Active 74 DOM
15. 2026-03-18
    listed $249,999 Active 408-char remark

    Show marketing remark (408 chars)

    NEW ORLEANS EAST SOLID BRICK DOUBLE FEATURING TWO SPACIOUS UNITS- ONE OFFERING 3 BEDROOMS AND 2 BATHS, THE OTHER 2 BEDROOMS AND 1 BATH. EACH UNIT INCLUDES ITS OWN SINGLE CAR GARAGE, SEPERATE DRIVEWAY AND INDIVIDUALLY FENCED BACK YARD FOR ADDED PRIVACY. PERFECT FOR OWNER OCCUPANTS-LIVE ON ONE SIDE WHILE THE OTHER HELPS OFFSET YOUR MORTGAGE-OR ADD THIS INCOME PRODUCING PROPERTY TO YOUR INVESTMENT PORTFOLIO.

16. 1999-03-04
    soldstatus $77,000

ⓘ 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: $1,974 · $165/mo
• Projected year-2 tax: $1,974 · $165/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 ≥107°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: $34,236
• − Mortgage interest: −$14,004
• − Property taxes: −$1,974
• − Insurance: −$2,047
• − Repairs & maintenance: −$2,739
• − Management: −$2,739
• − Depreciation: −$7,273
• Taxable income: $3,460
• Est. tax owed @ 24.0%: −$830
• After-tax cash flow: $6,462/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): 23,107
• Household income: $40,765
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2030.0

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 (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 4% Two or more races 4% White 2%
• Common ancestry: Lithuanian 1% Hispanic 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -72.43%
• Current HPI: 175.4465
• Rent YoY: —
• 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

+224.7% since first listed

2 events — show timeline

• 2026-03-18 Listed $249,999 AcadianaMLS
• 1999-03-04 Sold (Public Records) $77,000 Public Records

Property tax history

+1.7%/yr

Latest (2026): $1,974 · +1.1% YoY. Source: county tax records.