5022 Burgundy St · New Orleans, LA 70117

$70,000

4 bd · 2.0 ba · 1,971 sqft · MultiFamily public records · 1 Days on market

Built 1960 3,977 sqft lot $36/sqft · 67% below area

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Take advantage of a great investment opportunity with this handsome, historic Arts & Crafts double located in a prime section of the Holy Cross neighborhood, just four blocks from the levee. Each unit offers 3 bedrooms and 1 bath, with much of the original flooring, architectural details, windows, and doors still beautifully intact. Become part of this vibrant, storied community just minutes from the French Quarter and downtown. Preferred “X” flood zone.

Key facts

• Original flooring
• 3,977 sq ft lot
• Built 1960

Tags

• ORIGINAL FLOORING
• ARCHITECTURAL DETAILS
• PRIME SECTION OF HOLY CROSS
• MINUTES FROM FRENCH QUARTER

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $70k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $70k).
• Cap rate 40.1% 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; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,149/mo this rent would consume 83% 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 $484 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 15y ago; this cycle's ask has dropped $20k (22%) 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.
• 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 $70,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.50% ✓
• Cap rate: 40.14%
• Cash-on-cash: 120.90%
• DSCR: 6.38
• GRM: 1.9

CMA / ARV

• ARV (median comp): $212,058
• List price: $70,000
• Delta: -66.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4731 33 Dauphine St	0.25mi	4/2.0	1,985 (+1%)	12mo	$300,000	$151	78
4716-18 Burgundy St	0.26mi	4/2.0	1,934 (-2%)	11mo	$283,600	$147	75
901 03 Jourdan Ave	0.21mi	4/2.0	1,767 (-10%)	18mo	$120,000	$68	58
5443 45 Douglas St	0.34mi	3/2.0 (-1)	1,770 (-10%)	14mo	$210,000	$119	51
5717 19 Royal St	0.47mi	4/2.0	1,716 (-13%)	14mo	$175,000	$102	45
4205 07 Burgundy St	0.72mi	3/2.0 (-1)	1,812 (-8%)	7mo	$475,000	$262	42
1429 31 Benton St	0.73mi	4/2.0	2,265 (+15%)	13mo	$230,000	$102	31
832 34 France St	0.74mi	3/3.0 (-1)	1,677 (-15%)	10mo	$485,000	$289	23

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: —
• Equity multiple: 6.55×
• Total profit: $108,690
• Equity at exit: $10,437

10-year hold

• IRR: —
• Equity multiple: 13.50×
• Total profit: $245,042
• Equity at exit: $6,052

Cash invested: $19,600 (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: 3.7×

Monthly cashflow live

• Estimated rent: $3,149 high
• Mortgage (P&I): −$367
• Tax from tax record: −$117 /mo · $1,402/yr
• Insurance: −$29
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$661
• Net cashflow: $1,908

Break-even live

Break-even rent $734

Max offer price $70,000

Occupancy floor 34%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,148
Total (2 units)			$3,149

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
617 Forstall St New Orleans, LA	3.0	2.0	1262	$2,200	$1.74	3d	1	0.16mi
619 Reynes St New Orleans, LA	3.0	2.0	1318	$2,100	$1.59	16d	1	0.17mi
5459 Saint Claude Ave Unit 5461 New Orleans, LA	4.0	2.0	1454	$2,350	$1.62	23d	1	0.32mi
5461 Saint Claude Ave New Orleans, LA	4.0	2.0	1250	$2,350	$1.88	23d	1	0.32mi
1314 Lamanche St New Orleans, LA	4.0	1.0	1300	$2,100	$1.62	16d	1	0.52mi
1201 Gordon St New Orleans, LA	3.0	2.5	1367	$1,900	$1.39	17d	1	0.63mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	23d	1	0.75mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	12d	1	0.79mi
4318 1/2 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	3d	1	0.80mi
4318 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	3d	1	0.80mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	23d	1	0.85mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	23d	1	0.88mi
1714 Tricou St New Orleans, LA	3.0	2.0	1271	$1,900	$1.49	23d	1	1.00mi
1901 Tupelo St New Orleans, LA	3.0	2.5	1568	$2,300	$1.47	3d	1	1.03mi
1824 Saint Maurice Ave New Orleans, LA	4.0	2.0	1500	$1,500	$1.00	23d	1	1.04mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.04mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.04mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.04mi
6900 Royal St Arabi, LA	3.0	2.0	1579	$5,888	$3.73	2d	1	1.13mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	21d	1	1.21mi
438 Friscoville Ave Arabi, LA	3.0	2.0	1500	$3,200	$2.13	2d	1	1.21mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	3d	1	1.22mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	23d	1	1.29mi
5624-5626 Saint Claude ST New Orleans, LA	4.0	3.0	1521	$2,300	$1.51	23d	1	1.31mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	23d	1	1.37mi
1019 Center St Arabi, LA	5.0	3.0	1973	$5,888	$2.98	1d	1	1.39mi
2012 Esteban St Arabi, LA	3.0	2.0	1466	$2,500	$1.71	10d	1	1.41mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	23d	1	1.41mi
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	3d	1	1.44mi
1239 Center St Arabi, LA	4.0	2.0	1922	$3,500	$1.82	2d	1	1.45mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	44d	1	1.49mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	23d	1	1.49mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	3d	1	1.50mi

Listing history 10 events

1. 2026-06-17
   statusdays on marketlisting id $70,000 Active 1 DOM
2. 2026-04-23
   price $70,000
3. 2026-04-23
   price $70,000
4. 2025-11-19
   listed $90,000 Active
5. 2022-10-11
   soldstatus $108,000
6. 2022-07-25
   listed $115,000
7. 2011-07-20
   soldstatus $26,500
8. 2011-07-12
   soldstatus $26,500
9. 2011-06-03
   listed $31,900
10. 2011-06-03
    listed $31,900

ⓘ 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: $1,402 · $117/mo
• Projected year-2 tax: $1,402 · $117/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) · 73% 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: $37,788
• − Mortgage interest: −$3,921
• − Property taxes: −$1,402
• − Insurance: −$1,148
• − Repairs & maintenance: −$3,023
• − Management: −$3,023
• − Depreciation: −$2,036
• Taxable income: $23,235
• Est. tax owed @ 24.0%: −$5,576
• After-tax cash flow: $17,322/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

+119.4% since first listed

9 events — show timeline

• 2026-04-23 Price Changed $70,000 AcadianaMLS
• 2026-04-23 Price Changed $70,000 GSREIN
• 2025-11-19 Listed $90,000 AcadianaMLS
• 2022-10-11 Sold (Public Records) $108,000 Public Records
• 2022-07-25 Listed $115,000 AcadianaMLS
• 2011-07-20 Sold (Public Records) $26,500 Public Records
• 2011-07-12 Sold (MLS) $26,500 GSREIN
• 2011-06-03 Listed $31,900 GSREIN
• 2011-06-03 Listed $31,900 AcadianaMLS

Property tax history

+12.3%/yr

Latest (2026): $1,402 · +1.1% YoY. Source: county tax records.