4425 27 Music St · New Orleans, LA 70122

$290,000

4 bd · 2.0 ba · 2,500 sqft · MultiFamily · 660 Days on market

Built 1970 Good condition $116/sqft · 11% above area Est $261k · 11% over ↓ 19% since listing

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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 +25.5/30.0
• DSCR +8.5/10.0
• 1% rule +6.7/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• ARV discount +2.5/15.0
• Rent growth +2.3/5.0
• 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

Fabulous opportunity in Gentilly Terrace This fixer-upper duplex offers an investor or a home owner an opportunity to live in this wonderful neighborhood. The house has never flooded. .. has a newer roof (2019). .. and the exterior has just been painted 8/22/25. Each unit has 2 bedrooms 1 bath upstairs. .. the downstairs has a living/dining/kitchen and a large den!! This property has endless possibilities. ..

Key facts

• Gentilly terrace
• 3 parking spots
• Built 1970

Tags

• GENTILLY TERRACE

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $290k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $613 ($7k/yr) — positive. Per door: $307/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $255k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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.
• Zoned schools: Benjamin Franklin Elem. Math And Science (math 12% / reading 23%, grade F, #479 of 646 statewide, top 75%, 747 students, 98% FRL, charter) — zoned schools average 98% FRL vs 68% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.6%/yr); 336 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,397/mo this rent would consume 82% of the median local household income ($49k/yr) (locally 2150% 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 $9k 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 660 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $255,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 660 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 1970 — 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: 1.17% ✓
• Cap rate: 9.10%
• Cash-on-cash: 10.04%
• DSCR: 1.45
• GRM: 7.1

CMA / ARV

• ARV (median comp): $260,886
• List price: $290,000
• Delta: 11.16%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4616-18 Marigny St	0.29mi	4/2.0	2,340 (-6%)	4mo	$290,000	$124	72
2332 Jasmine St	0.23mi	4/2.0	2,132 (-15%)	22mo	$140,500	$66	46
3662 Clematis St	0.51mi	5/4.0 (+1)	2,128 (-15%)	2mo	$275,000	$129	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.1%
• Equity multiple: 0.78×
• Total profit: $-17,810
• Equity at exit: $43,240

10-year hold

• IRR: -0.7%
• Equity multiple: 0.96×
• Total profit: $-3,331
• Equity at exit: $25,074

Cash invested: $81,200 (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 70122

• Rents YoY: -0.6%
• Active inventory: 336
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $3,397 high
• Mortgage (P&I): −$1,521
• Tax est. 1.5%: −$362 /mo · $4,350/yr
• Insurance: −$121
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$713
• Net cashflow: $613

Break-even live

Break-even rent $2,621

Max offer price $290,000

Occupancy floor 77%

Sensitivity live

Price	-10% $813	-5% $713	+0% $613	+5% $513	+10% $413
Rent	-10% $345	-5% $479	+0% $613	+5% $747	+10% $881
Rate	-1.0pp $759	-0.5pp $687	base $613	+0.5pp $538	+1.0pp $461

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,398
Total (2 units)			$3,397

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3570 Gentilly Blvd New Orleans, LA	3.0	2.0	2390	$2,900	$1.21	45d	1	0.12mi
5172 Venus St Unit 5172 New Orleans, LA	3.0	2.5	1864	$2,450	$1.31	25d	1	0.55mi
6010 Pasteur Blvd New Orleans, LA	4.0	3.0	2010	$2,600	$1.29	18d	1	1.22mi
5024 Paris Ave New Orleans, LA	4.0	3.0	2116	$3,000	$1.42	17d	1	1.30mi
6416 Baccich St New Orleans, LA	3.0	2.0	1908	$2,500	$1.31	45d	1	1.50mi

Listing history 17 events

1. 2026-06-21
   days on market $290,000 Active 660 DOM
2. 2026-06-18
   days on market $290,000 Active 657 DOM
3. 2026-06-17
   days on market $290,000 Active 656 DOM
4. 2026-06-16
   days on market $290,000 Active 655 DOM
5. 2026-06-15
   days on market $290,000 Active 654 DOM
6. 2026-06-13
   pricedays on market $290,000 Active 652 DOM
7. 2026-06-10
   days on market $325,000 Active 649 DOM
8. 2026-06-09
   days on market $325,000 Active 648 DOM
9. 2026-06-08
   days on market $325,000 Active 647 DOM
10. 2026-06-07
    days on market $325,000 Active 646 DOM
11. 2026-06-05
    days on market $325,000 Active 643 DOM
12. 2026-06-03
    days on market $325,000 Active 642 DOM
13. 2026-06-02
    days on market $325,000 Active 641 DOM
14. 2026-06-01
    days on market $325,000 Active 640 DOM
15. 2026-05-31
    days on market $325,000 Active 639 DOM
16. 2025-05-27
    price $325,000 417-char remark

    Show marketing remark (417 chars)

    Fabulous opportunity in Gentilly Terrace This fixer-upper duplex offers an investor or a home owner an opportunity to live in this wonderful neighborhood. The house has never flooded. .. has a newer roof (2019). .. and the exterior has just been painted 8/22/25. Each unit has 2 bedrooms 1 bath upstairs. .. the downstairs has a living/dining/kitchen and a large den!! This property has endless possibilities. ..

17. 2024-08-30
    listed $399,000 Active 417-char remark

    Show marketing remark (417 chars)

    Fabulous opportunity in Gentilly Terrace This fixer-upper duplex offers an investor or a home owner an opportunity to live in this wonderful neighborhood. The house has never flooded. .. has a newer roof (2019). .. and the exterior has just been painted 8/22/25. Each unit has 2 bedrooms 1 bath upstairs. .. the downstairs has a living/dining/kitchen and a large den!! This property has endless possibilities. ..

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 20 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: $40,764
• − Mortgage interest: −$16,245
• − Property taxes: −$4,350
• − Insurance: −$2,248
• − Repairs & maintenance: −$3,261
• − Management: −$3,261
• − Depreciation: −$8,436
• Taxable income: $2,963
• Est. tax owed @ 24.0%: −$711
• After-tax cash flow: $6,645/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This multi-family property offers a good investment opportunity with a recently painted exterior and a new roof, but interior updates and landscaping improvements could further enhance its value.

Value-add opportunities

• Both Interior updates — Modernizing interior can appeal to both buyers and renters
• Both Landscaping improvements — Enhancing curb appeal can attract more interest

Renovation cost estimate screening

Value-add ROI direction

• Both Interior updates — Modernizing interior can appeal to both buyers and renters ↑
• Both Landscaping improvements — Enhancing curb appeal can attract more interest ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 35,253
• Household income: $49,455
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 2150.0

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 (69%)
• Race & ethnicity: Black 69% White 18% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 4% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 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: ▼ -222.37%
• Current HPI: 231.9921
• Rent YoY: ▼ -0.61%
• 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

-18.5% since first listed

2 events — show timeline

• 2025-05-27 Price Changed $325,000 GSREIN
• 2024-08-30 Listed $399,000 GSREIN