3019 21 S Saratoga St · New Orleans, LA 70115

$165,000

2 bd · 2.0 ba · 1,085 sqft · MultiFamily public records · 27 Days on market

Built 1934 1,568 sqft lot Est $146k · 13% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• ARV discount +1.8/15.0
• 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

Calling all investors! Historic double in convenient location with quick access to St. Charles Avenue, I-10, the Uptown parade route, and more! High ceilings throughout. This property is part of a portfolio of several multi-family properties in the surrounding area that can be sold together. Great investment opportunity!

Key facts

• Historic double
• Convenient location
• Quick access to i-10

Tags

• HISTORIC DOUBLE
• CONVENIENT LOCATION
• QUICK ACCESS TO I-10
• INVESTMENT OPPORTUNITY

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-story; Shingle roof
• Construction: Raised foundation
• Exterior features: City lot; Rectangular lot; Lot dimensions approximately 29' x 56'

Interior

• Bedrooms: Two-unit property (2 total units)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Average condition; Raised foundation
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $165k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Recommended offer: $163k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.1% 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 soft (-1.4%/yr); 278 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); solid renter incomes; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• This rent runs 36% of the median local income ($90k/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 $1k of loan paydown is wiped out by about $5k 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 + 0.0% rent growth), your $46k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 32y ago 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.
• Current owner paid $7k; list at $165k implies a 2257% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1934 — 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 $162,525 (1.5% below list)

Questions for the listing agent

1. Built in 1934 — 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. 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.
5. 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.
6. 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: 1.65% ✓
• Cap rate: 14.07%
• Cash-on-cash: 27.78%
• DSCR: 2.24
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $146,475
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2304-06 6th St	0.16mi	2/2.0	1,183 (+9%)	10mo	$159,900	$135	69
2717 S Liberty St	0.25mi	2/3.0	1,154 (+6%)	9mo	$72,000	$62	66

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: 16.3%
• Equity multiple: 1.63×
• Total profit: $29,219
• Equity at exit: $24,602

10-year hold

• IRR: 22.6%
• Equity multiple: 2.67×
• Total profit: $77,070
• Equity at exit: $14,266

Cash invested: $46,200 (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 70115

• Rents YoY: -1.4%
• Active inventory: 278
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,721 high
• Mortgage (P&I): −$865
• Tax from tax record: −$146 /mo · $1,753/yr
• Insurance: −$69
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $1,003

Break-even live

Break-even rent $1,451

Max offer price $165,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,720
Total (2 units)			$2,721

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3324 S Saratoga St Unit 201 New Orleans, LA	2.0	1.0	1200	$2,000	$1.67	21d	1	0.10mi
2919 Dryades St New Orleans, LA	2.0	1.0	750	$1,300	$1.73	21d	1	0.17mi
3317 Dryades St New Orleans, LA	2.0	2.0	900	$1,700	$1.89	17d	1	0.17mi
2934 Dryades St New Orleans, LA	1.0	1.0	750	$1,200	$1.60	3d	1	0.18mi
2934 Dryades St New Orleans, LA	1.0	1.0	750	$1,200	$1.60	3d	1	0.18mi
2840 Dryades St Unit 2838 New Orleans, LA	2.0	2.0	1000	$1,595	$1.59	3d	1	0.21mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1232	$2,300	$1.87	23d	1	0.22mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1250	$2,300	$1.84	2d	1	0.22mi
1908 Washington Ave Unit NA New Orleans, LA	2.0	2.5	1498	$2,100	$1.40	20d	1	0.23mi
2931 Baronne St New Orleans, LA	3.0	1.0	1145	$1,510	$1.32	23d	1	0.23mi
2220 4th St New Orleans, LA	1.0	1.0	937	$1,650	$1.76	23d	1	0.24mi
2222 Fourth St New Orleans, LA	2.0	1.5	937	$1,550	$1.65	23d	1	0.25mi
2107 Fourth St New Orleans, LA	3.0	1.0	1292	$1,775	$1.37	17d	1	0.26mi
1719 Seventh St Unit A New Orleans, LA	2.0	1.0	1093	$1,525	$1.40	23d	1	0.26mi
2705 Dryades St New Orleans, LA	2.0	1.0	1100	$2,000	$1.82	23d	1	0.28mi
1725 Louisiana Ave New Orleans, LA	2.0	2.0	1350	$2,000	$1.48	23d	1	0.28mi
1706 Seventh St Unit B New Orleans, LA	2.0	1.0	1158	$1,550	$1.34	23d	1	0.28mi
2232 Amelia St New Orleans, LA	3.0	2.0	900	$1,800	$2.00	17d	1	0.29mi
2714 Dryades St Unit A New Orleans, LA	2.0	2.0	919	$1,500	$1.63	3d	1	0.29mi
2919 Carondelet St Unit C New Orleans, LA	2.0	1.0	766	$1,350	$1.76	23d	1	0.29mi
3439 Baronne St New Orleans, LA	2.0	2.0	1492	$3,500	$2.35	16d	1	0.29mi
2915 Carondelet St New Orleans, LA	2.0	1.0	949	$1,510	$1.59	23d	1	0.30mi
2605 Danneel St Unit A New Orleans, LA	2.0	1.0	830	$1,350	$1.63	23d	1	0.31mi
3314 Carondelet St Unit B New Orleans, LA	1.0	1.0	1000	$1,500	$1.50	23d	1	0.32mi
1635 Sixth St Apt 4 New Orleans, LA	1.0	1.0	1005	$2,000	$1.99	23d	1	0.33mi
2427 Peniston St New Orleans, LA	1.0	1.0	1000	$1,100	$1.10	16d	1	0.35mi
2931 Saint Charles Ave New Orleans, LA	2.0	2.0	900	$2,800	$3.11	17d	1	0.35mi
3201 Saint Charles Ave New Orleans, LA	1.0–2.0	1.0–2.0	922	$2,250	$2.44	17d	4	0.36mi
2033 General Taylor St New Orleans, LA	3.0	1.0	908	$2,400	$2.64	23d	1	0.37mi
2539 Amelia St New Orleans, LA	3.0	2.0	1296	$2,200	$1.70	23d	1	0.37mi
2227 Second St New Orleans, LA	2.0	2.0	1100	$1,900	$1.73	23d	1	0.38mi
1811 Third St Unit 1811 New Orleans, LA	2.0	1.0	800	$1,450	$1.81	3d	1	0.38mi
2225 2nd St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	23d	1	0.39mi
1731 Amelia St New Orleans, LA	1.0	1.0	900	$1,200	$1.33	23d	1	0.39mi
4011 Danneel St New Orleans, LA	2.0	2.0	1200	$2,495	$2.08	23d	1	0.42mi
3435 Magnolia St New Orleans, LA	3.0	1.0	1050	$1,500	$1.43	23d	1	0.43mi
3539 Saint Charles Ave Unit G New Orleans, LA	1.0	1.0	750	$1,275	$1.70	17d	1	0.44mi
1618 3rd St New Orleans, LA	2.0	1.0	1210	$1,850	$1.53	23d	1	0.44mi
1618 3rd St New Orleans, LA	1.0	1.0	900	$1,350	$1.50	17d	1	0.44mi
2429 Freret St New Orleans, LA	2.0	1.0	725	$1,300	$1.79	3d	1	0.46mi

Listing history 19 events

1. 2026-06-18
   days on market $165,000 Active 27 DOM
2. 2026-06-17
   days on market $165,000 Active 26 DOM
3. 2026-06-16
   days on market $165,000 Active 25 DOM
4. 2026-06-15
   days on market $165,000 Active 24 DOM
5. 2026-06-13
   days on market $165,000 Active 22 DOM
6. 2026-06-10
   days on market $165,000 Active 19 DOM
7. 2026-06-09
   days on market $165,000 Active 18 DOM
8. 2026-06-08
   days on market $165,000 Active 17 DOM
9. 2026-06-07
   days on market $165,000 Active 16 DOM
10. 2026-06-05
    days on market $165,000 Active 13 DOM
11. 2026-06-03
    days on market $165,000 Active 12 DOM
12. 2026-06-02
    days on market $165,000 Active 11 DOM
13. 2026-06-01
    days on market $165,000 Active 10 DOM
14. 2026-05-31
    days on market $165,000 Active 9 DOM
15. 2026-05-21
    listed $165,000 Active

    Show marketing remark (322 chars)

    Calling all investors! Historic double in convenient location with quick access to St. Charles Avenue, I-10, the Uptown parade route, and more! High ceilings throughout. This property is part of a portfolio of several multi-family properties in the surrounding area that can be sold together. Great investment opportunity!

16. 2026-05-21
    listed $165,000 Active 322-char remark

    Show marketing remark (322 chars)

    Calling all investors! Historic double in convenient location with quick access to St. Charles Avenue, I-10, the Uptown parade route, and more! High ceilings throughout. This property is part of a portfolio of several multi-family properties in the surrounding area that can be sold together. Great investment opportunity!

17. 1995-05-01
    soldstatus $7,000
18. 1994-10-04
    listed $16,000
19. 1994-10-04
    listed $16,000

ⓘ 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: $1,753 · $146/mo
• Projected year-2 tax: $1,753 · $146/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,652
• − Mortgage interest: −$9,243
• − Property taxes: −$1,753
• − Insurance: −$1,622
• − Repairs & maintenance: −$2,612
• − Management: −$2,612
• − Depreciation: −$4,800
• Taxable income: $10,010
• Est. tax owed @ 24.0%: −$2,402
• After-tax cash flow: $9,634/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): 31,183
• Household income: $90,182
• Rent vs Own: 45.7% rent · 54.3% own
• Severe rent burden: 1756.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 59% Black 26% Two or more races 8% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 8% Italian 3% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -272.08%
• Current HPI: 287.2138
• Rent YoY: ▼ -1.42%
• 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

+931.2% since first listed

5 events — show timeline

• 2026-05-21 Listed $165,000 AcadianaMLS
• 2026-05-21 Listed $165,000 GSREIN
• 1995-05-01 Sold (MLS) $7,000 GSREIN
• 1994-10-04 Listed $16,000 AcadianaMLS
• 1994-10-04 Listed $16,000 GSREIN

Property tax history

+6.9%/yr

Latest (2026): $1,753 · +1.1% YoY. Source: county tax records.