2415 17 Republic St · New Orleans, LA 70119

$266,000

4 bd · 2.0 ba · 1,794 sqft · MultiFamily public records · 111 Days on market

Built 1935 $148/sqft · 8% above area Est $245k · 8% 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 +27.3/30.0
• DSCR +9.5/10.0
• 1% rule +6.3/10.0
• Livability +4.0/5.0
• ARV discount +3.7/15.0
• Rent growth +2.5/5.0
• 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

Renovated double located just off St. Bernard Avenue, offering two separate living spaces with functional layouts and great natural light. Classic New Orleans details blend with practical updates, creating strong rental appeal and long-term value potential. Convenient access to downtown, major corridors, and local neighborhood amenities. A solid opportunity for both homeowners and investors alike.

Key facts

• Great natural light
• Renovated double
• Strong rental appeal

Tags

• RENOVATED DOUBLE
• TWO SEPARATE LIVING SPACES
• GREAT NATURAL LIGHT
• CLASSIC NEW ORLEANS DETAILS
• STRONG RENTAL APPEAL
• LONG TERM VALUE POTENTIAL

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $266k.

Deal economics

• At list price, monthly cash flow is $706 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $266k).
• Recommended offer: $242k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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 (-0.2%/yr); 381 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,008/mo this rent would consume 68% of the median local household income ($53k/yr) (locally 3381% 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 111 days — a 9% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $12k; list at $266k implies a 2028% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1935 — 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 $242,060 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 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 1935 — 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: 1.13% ✓
• Cap rate: 9.78%
• Cash-on-cash: 12.44%
• DSCR: 1.55
• GRM: 7.4

CMA / ARV

• ARV (median comp): $245,198
• List price: $266,000
• Delta: 8.48%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2649 51 Bruxelles St	0.23mi	4/2.0	1,881 (+5%)	6mo	$142,000	$75	76
1737 39 Duels St	0.26mi	4/2.0	1,692 (-6%)	2mo	$200,000	$118	76
2520 22 D'abadie St	0.26mi	4/2.0	1,632 (-9%)	3mo	$278,600	$171	71
2134 Annette St	0.38mi	4/4.0	1,816 (+1%)	3mo	$210,000	$116	70
1668 Paul Morphy St	0.33mi	4/2.0	1,980 (+10%)	0mo	$285,000	$144	67
2714 16 New Orleans St	0.34mi	4/2.0	1,623 (-10%)	4mo	$230,000	$142	65
2118 20 Onzaga St	0.33mi	4/2.0	1,526 (-15%)	1mo	$182,000	$119	59
1552 54 N Derbigny St	0.62mi	4/3.0	1,681 (-6%)	5mo	$330,000	$196	53
1024 26 N Rocheblave St	0.60mi	4/5.0	1,826 (+2%)	6mo	$380,000	$208	52
1614 16 Annette St	0.66mi	4/2.0	1,998 (+11%)	4mo	$120,000	$60	47
2132 Touro St	0.57mi	4/2.0	1,550 (-14%)	6mo	$169,000	$109	46
2008 10 Frenchmen St	0.68mi	4/4.0	1,942 (+8%)	6mo	$380,000	$196	42

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: -2.6%
• Equity multiple: 0.91×
• Total profit: $-7,026
• Equity at exit: $39,661

10-year hold

• IRR: 3.7%
• Equity multiple: 1.23×
• Total profit: $17,461
• Equity at exit: $22,999

Cash invested: $74,480 (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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $3,008 high
• Mortgage (P&I): −$1,395
• Tax from tax record: −$98 /mo · $1,180/yr
• Insurance: −$111
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$632
• Net cashflow: $706

Break-even live

Break-even rent $2,115

Max offer price $266,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,008
Total (2 units)			$3,008

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: $66,500
• Closing costs: $7,980
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	43d	1	0.25mi
2329 Laharpe St New Orleans, LA	3.0	1.0	1250	$1,000	$0.80	19d	1	0.36mi
2331 Columbus St New Orleans, LA	3.0	1.0	1976	$1,850	$0.94	23d	1	0.42mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	16d	1	0.51mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	23d	1	0.51mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	23d	1	0.52mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	0.53mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	0.53mi
2664 Lepage St New Orleans, LA	3.0	2.0	1750	$2,725	$1.56	43d	1	0.57mi
1901 Gentilly Blvd New Orleans, LA	3.0	2.5	2205	$4,000	$1.81	43d	1	0.58mi
1466 N White St New Orleans, LA	3.0	1.5	1500	$2,250	$1.50	3d	1	0.60mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	23d	1	0.69mi
1472 N Claiborne Ave New Orleans, LA	3.0	1.0	1312	$1,900	$1.45	16d	1	0.74mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	3d	1	0.78mi
3024 Esplanade Ave New Orleans, LA	3.0	2.5	2300	$4,500	$1.96	43d	1	0.80mi
2731 Saint Philip St Unit 2733 New Orleans, LA	4.0	2.0	2000	$2,600	$1.30	23d	1	0.85mi
3702 Trafalgar St New Orleans, LA	3.0	2.0	1428	$2,350	$1.65	16d	1	0.85mi
1433 Esplanade Ave New Orleans, LA	3.0	2.0	2411	$5,000	$2.07	2d	1	0.85mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	23d	1	0.86mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	23d	1	0.91mi
3607 Havana St New Orleans, LA	3.0	2.0	1693	$1,488	$0.88	17d	1	0.93mi
2129 Dumaine St New Orleans, LA	3.0	2.0	1226	$1,850	$1.51	3d	1	0.93mi
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	43d	1	0.95mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	43d	1	0.95mi
3624 Havana St New Orleans, LA	3.0	1.0	1388	$1,875	$1.35	16d	1	0.95mi
1929 Dumaine St New Orleans, LA	3.0	1.0	1293	$1,500	$1.16	3d	1	0.97mi
1217 Kerlerec St Unit B New Orleans, LA	3.0	1.0	1300	$2,100	$1.62	3d	1	0.98mi
3515 Saint Anthony Ave New Orleans, LA	3.0	2.0	1366	$2,500	$1.83	23d	1	0.99mi
824 N Dupre St New Orleans, LA	3.0	2.0	1315	$2,250	$1.71	17d	1	1.00mi
3443 Esplanade Ave New Orleans, LA	3.0	1.0–2.0	997	$2,500	$2.51	3d	30	1.09mi
2228 Arts St New Orleans, LA	3.0	2.0	2270	$1,675	$0.74	3d	1	1.13mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	3d	1	1.17mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	3d	1	1.17mi
1021 Henriette Delille St New Orleans, LA	3.0	2.0	2012	$2,250	$1.12	17d	1	1.18mi
1908 Saint Louis St New Orleans, LA	3.0	3.0	1234	$2,300	$1.86	23d	1	1.27mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	3d	2	1.29mi
2033 Conti St New Orleans, LA	3.0	3.0	1249	$2,250	$1.80	14d	1	1.29mi
2320 N Rampart St New Orleans, LA	3.0	3.0	2317	$3,700	$1.60	43d	1	1.31mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,500	$1.96	23d	1	1.31mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,300	$1.80	20d	1	1.31mi

Listing history 21 events

1. 2026-06-18
   days on market $266,000 Active 111 DOM
2. 2026-06-17
   days on market $266,000 Active 110 DOM
3. 2026-06-16
   days on market $266,000 Active 109 DOM
4. 2026-06-15
   days on market $266,000 Active 108 DOM
5. 2026-06-13
   days on market $266,000 Active 106 DOM
6. 2026-06-10
   days on market $266,000 Active 103 DOM
7. 2026-06-09
   days on market $266,000 Active 102 DOM
8. 2026-06-08
   days on market $266,000 Active 101 DOM
9. 2026-06-07
   days on market $266,000 Active 100 DOM
10. 2026-06-05
    days on market $266,000 Active 97 DOM
11. 2026-06-03
    days on market $266,000 Active 96 DOM
12. 2026-06-02
    days on market $266,000 Active 95 DOM
13. 2026-06-01
    days on market $266,000 Active 94 DOM
14. 2026-05-31
    days on market $266,000 Active 93 DOM
15. 2026-03-30
    price $266,000 400-char remark

    Show marketing remark (400 chars)

    Renovated double located just off St. Bernard Avenue, offering two separate living spaces with functional layouts and great natural light. Classic New Orleans details blend with practical updates, creating strong rental appeal and long-term value potential. Convenient access to downtown, major corridors, and local neighborhood amenities. A solid opportunity for both homeowners and investors alike.

16. 2026-03-30
    price $266,000 400-char remark

    Show marketing remark (400 chars)

    Renovated double located just off St. Bernard Avenue, offering two separate living spaces with functional layouts and great natural light. Classic New Orleans details blend with practical updates, creating strong rental appeal and long-term value potential. Convenient access to downtown, major corridors, and local neighborhood amenities. A solid opportunity for both homeowners and investors alike.

17. 2026-02-27
    listed $275,000 Active 400-char remark

    Show marketing remark (400 chars)

    Renovated double located just off St. Bernard Avenue, offering two separate living spaces with functional layouts and great natural light. Classic New Orleans details blend with practical updates, creating strong rental appeal and long-term value potential. Convenient access to downtown, major corridors, and local neighborhood amenities. A solid opportunity for both homeowners and investors alike.

18. 2026-02-27
    listed $275,000 Active 400-char remark

    Show marketing remark (400 chars)

    Renovated double located just off St. Bernard Avenue, offering two separate living spaces with functional layouts and great natural light. Classic New Orleans details blend with practical updates, creating strong rental appeal and long-term value potential. Convenient access to downtown, major corridors, and local neighborhood amenities. A solid opportunity for both homeowners and investors alike.

19. 2010-09-21
    listed $149,000
20. 2010-09-21
    listed $149,000
21. 1977-05-31
    soldstatus $12,500

ⓘ 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: $1,180 · $98/mo
• Projected year-2 tax: $1,463 · $122/mo
• Expected delta: +$283/yr (+$24/mo · 24.0%)

ⓘ 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 · 21 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: $36,096
• − Mortgage interest: −$14,900
• − Property taxes: −$1,180
• − Insurance: −$2,128
• − Repairs & maintenance: −$2,888
• − Management: −$2,888
• − Depreciation: −$7,738
• Taxable income: $4,375
• Est. tax owed @ 24.0%: −$1,050
• After-tax cash flow: $7,419/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): 37,253
• Household income: $53,143
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3381.0

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 0.64)
• Race & ethnicity: Black 44% White 40% Two or more races 10% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 0%

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: ▼ -135.38%
• Current HPI: 253.1929
• Rent YoY: ▼ -0.20%
• 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

+2028.0% since first listed

7 events — show timeline

• 2026-03-30 Price Changed $266,000 AcadianaMLS
• 2026-03-30 Price Changed $266,000 GSREIN
• 2026-02-27 Listed $275,000 GSREIN
• 2026-02-27 Listed $275,000 AcadianaMLS
• 2010-09-21 Listed $149,000 GSREIN
• 2010-09-21 Listed $149,000 AcadianaMLS
• 1977-05-31 Sold (Public Records) $12,500 Public Records

Property tax history

+1.7%/yr

Latest (2026): $1,180 · +1.1% YoY. Source: county tax records.