912 Egania St · New Orleans, LA 70117

$350,000

8 bd · 4.0 ba · 3,402 sqft · MultiFamily public records · 34 Days on market

Built 1960 $103/sqft · 21% above area Est $261k · 34% 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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• 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 (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Exceptional investment opportunity to own four well-maintained four-plexes being sold together as a package deal! All four buildings are situated on the same plot of land and include 912 Egania Street (MLS 2558217), 926 Egania Street (MLS 2557802), 5229 Burgundy Street (MLS 2558223), and 5228 North Rampart Street (MLS 2558225). $350K per building. These solid brick/masonry buildings have been meticulously cared for and are in excellent condition inside and out. The properties feature newer roofs less than five years old, beautifully maintained grounds, and spacious units that reflect true pride of ownership. Interior features include a combination of beautiful hardwood and ceramic tile flooring throughout the units, adding both durability and timeless appeal. All units are uniform in size, offering consistency and ease of management for owner occupants and investors alike. All units are fully occupied with residents, providing immediate rental income from day one. All four buildings are electric, and each unit has its own electric meter and water meter, making property management more efficient, simplistic, and convenient. Included in the sale are all appliances including refrigerators, stoves, built-in microwaves, and dishwashers, making this a true turnkey investment opportunity. While the properties are currently leased below market rent, there is significant upside potential for increased cash flow. Given the outstanding condition of the buildings and the strong rental demand in today's market, investors have the opportunity to substantially increase rental income over time. This is a rare opportunity to own an impressive multi-family portfolio on valuable New Orleans real estate. Whether you are looking to expand your investment portfolio, generate long-term passive income, or obtain appreciating assets in a thriving market, these properties offer tremendous value and future potential. Don't miss out on this incredible investment. Schedule your showing today!

Key facts

• Newer roofs
• 3 parking spots
• Built 1960

Tags

• NEWER ROOFS
• BEAUTIFULLY MAINTAINED GROUNDS
• FULLY OCCUPIED WITH RESIDENTS
• ALL APPLIANCES INCLUDED

Property features AI

Finance

• Financial info: Four total units; Reported rent: Units with rents shown at $800 each where listed; Tenants pay electricity, gas, and water

Exterior

• Parking: Off-street parking; Parking lot with three or more spaces
• Utilities: Public water; Public sewer
• Home design: Brick construction; 2-story building; Slab foundation
• Construction: Shingle roof
• Exterior features: Fenced yard; City lot; Oversized, rectangular lot

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Four 2-bedroom units (Units A–D)
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: In-unit laundry; Excellent condition
• Laundry & utility: Laundry inside each unit

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $557/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $350k).
• Recommended offer: $340k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $5,074/mo this rent would consume 133% 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 $2k of loan paydown is wiped out by about $10k 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 $98k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($340k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y 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 $100k; list at $350k implies a 250% 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 $339,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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 1960 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.45% ✓
• Cap rate: 12.25%
• Cash-on-cash: 21.28%
• DSCR: 1.95
• GRM: 5.7

CMA / ARV

• ARV (median comp): $261,453
• List price: $350,000
• Delta: 33.87%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5428-30 Dauphine St	0.17mi	8/4.0	3,552 (+4%)	10mo	$185,000	$52	77
1005 Gordon St	0.48mi	8/4.0	3,089 (-9%)	18mo	$352,500	$114	47
5721-23 Royal St	0.39mi	8/3.0	3,016 (-11%)	20mo	$150,000	$50	43
5624 26 Saint Claude St	0.32mi	7/5.0 (-1)	2,971 (-13%)	22mo	$324,000	$109	36

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: 12.2%
• Equity multiple: 1.48×
• Total profit: $47,181
• Equity at exit: $52,186

10-year hold

• IRR: 20.7%
• Equity multiple: 2.71×
• Total profit: $167,754
• Equity at exit: $30,262

Cash invested: $98,000 (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 70117

• Rents YoY: 2.5%
• Active inventory: 581
• Price-to-rent: 17.2×

Monthly cashflow live

• Estimated rent: $5,074 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$289 /mo · $3,470/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,066
• Net cashflow: $1,672

Break-even live

Break-even rent $2,958

Max offer price $350,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$5,073
Total (3 units)			$5,074

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $350,000 Active 34 DOM
2. 2026-06-17
   days on market $350,000 Active 33 DOM
3. 2026-06-16
   days on market $350,000 Active 32 DOM
4. 2026-06-15
   days on market $350,000 Active 31 DOM
5. 2026-06-13
   days on market $350,000 Active 29 DOM
6. 2026-06-10
   days on market $350,000 Active 26 DOM
7. 2026-06-09
   days on market $350,000 Active 25 DOM
8. 2026-06-08
   days on market $350,000 Active 24 DOM
9. 2026-06-07
   days on market $350,000 Active 23 DOM
10. 2026-06-05
    days on market $350,000 Active 20 DOM
11. 2026-06-03
    days on market $350,000 Active 19 DOM
12. 2026-06-02
    days on market $350,000 Active 18 DOM
13. 2026-06-01
    days on market $350,000 Active 17 DOM
14. 2026-05-31
    days on market $350,000 Active 16 DOM
15. 2026-05-15
    listed $350,000 Active 2004-char remark

    Show marketing remark (1998 chars)

    Exceptional investment opportunity to own four well-maintained four-plexes being sold together as a package deal! All four buildings are situated on the same plot of land and include 912 Egania Street (MLS 2558217), 926 Egania Street (MLS 2557802), 5229 Burgundy Street (MLS 2558223), and 5228 North Rampart Street (MLS 2558225). $350K per building. These solid brick/masonry buildings have been meticulously cared for and are in excellent condition inside and out. The properties feature newer roofs less than five years old, beautifully maintained grounds, and spacious units that reflect true pride of ownership. Interior features include a combination of beautiful hardwood and ceramic tile flooring throughout the units, adding both durability and timeless appeal. All units are uniform in size, offering consistency and ease of management for owner occupants and investors alike. All units are fully occupied with residents, providing immediate rental income from day one. All four buildings are electric, and each unit has its own electric meter and water meter, making property management more efficient, simplistic, and convenient. Included in the sale are all appliances including refrigerators, stoves, built-in microwaves, and dishwashers, making this a true turnkey investment opportunity. While the properties are currently leased below market rent, there is significant upside potential for increased cash flow. Given the outstanding condition of the buildings and the strong rental demand in today's market, investors have the opportunity to substantially increase rental income over time. This is a rare opportunity to own an impressive multi-family portfolio on valuable New Orleans real estate. Whether you are looking to expand your investment portfolio, generate long-term passive income, or obtain appreciating assets in a thriving market, these properties offer tremendous value and future potential. Don't miss out on this incredible investment. Schedule your showing today!

16. 2026-05-15
    listed $350,000 Active 1998-char remark

    Show marketing remark (1998 chars)

    Exceptional investment opportunity to own four well-maintained four-plexes being sold together as a package deal! All four buildings are situated on the same plot of land and include 912 Egania Street (MLS 2558217), 926 Egania Street (MLS 2557802), 5229 Burgundy Street (MLS 2558223), and 5228 North Rampart Street (MLS 2558225). $350K per building. These solid brick/masonry buildings have been meticulously cared for and are in excellent condition inside and out. The properties feature newer roofs less than five years old, beautifully maintained grounds, and spacious units that reflect true pride of ownership. Interior features include a combination of beautiful hardwood and ceramic tile flooring throughout the units, adding both durability and timeless appeal. All units are uniform in size, offering consistency and ease of management for owner occupants and investors alike. All units are fully occupied with residents, providing immediate rental income from day one. All four buildings are electric, and each unit has its own electric meter and water meter, making property management more efficient, simplistic, and convenient. Included in the sale are all appliances including refrigerators, stoves, built-in microwaves, and dishwashers, making this a true turnkey investment opportunity. While the properties are currently leased below market rent, there is significant upside potential for increased cash flow. Given the outstanding condition of the buildings and the strong rental demand in today's market, investors have the opportunity to substantially increase rental income over time. This is a rare opportunity to own an impressive multi-family portfolio on valuable New Orleans real estate. Whether you are looking to expand your investment portfolio, generate long-term passive income, or obtain appreciating assets in a thriving market, these properties offer tremendous value and future potential. Don't miss out on this incredible investment. Schedule your showing today!

17. 2008-08-12
    listed $125,000
18. 2008-08-12
    listed $125,000
19. 1992-06-10
    soldstatus $100,000
20. 1991-04-04
    soldstatus $136,000

ⓘ 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: $3,470 · $289/mo
• Projected year-2 tax: $3,470 · $289/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 ≥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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,888
• − Mortgage interest: −$19,605
• − Property taxes: −$3,470
• − Insurance: −$2,548
• − Repairs & maintenance: −$4,871
• − Management: −$4,871
• − Depreciation: −$10,182
• Taxable income: $15,341
• Est. tax owed @ 24.0%: −$3,682
• After-tax cash flow: $16,377/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

+157.4% since first listed

6 events — show timeline

• 2026-05-15 Listed $350,000 AcadianaMLS
• 2026-05-15 Listed $350,000 GSREIN
• 2008-08-12 Listed $125,000 GSREIN
• 2008-08-12 Listed $125,000 AcadianaMLS
• 1992-06-10 Sold (Public Records) $100,000 Public Records
• 1991-04-04 Sold (Public Records) $136,000 Public Records

Property tax history

+6.9%/yr

Latest (2026): $3,470 · +1.1% YoY. Source: county tax records.