4220 22 S Miro St · New Orleans, LA 70125

$150,000

4 bd · 2.0 ba · 2,230 sqft · MultiFamily public records · 37 Days on market

Built 1920 $67/sqft · 56% below area

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Why this score? — see what drove the B- 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
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Investor special on South Miro Street! This duplex, offered at $150,000, has two units--each with a living room, dining room, two bedrooms, one bath, and a kitchen. One unit is updated, the other is gutted EVERYTHING REMAINS! Property sold as-is, no clean-out or repairs. Schedule your showing--this won't last long!

Key facts

• Parking
• Built 1920
• Listed 37 days

Property features AI

Finance

• Financial info: Two residential units total

Exterior

• Parking: One parking space
• Utilities: Public water; Public sewer
• Home design: Single-story building; Raised foundation
• Construction: Brick and wood siding construction; Shingle roof; Built as a raised foundation
• Exterior features: City lot; Rectangular lot; Pond on the lot

Interior

• Bedrooms: Unit 22: 2 bedrooms; Unit 20: 2 bedrooms
• Bathrooms: Total of 2 full bathrooms (one in each unit); Unit 22: 1 full bathroom; Unit 20: 1 full bathroom
• Heating & cooling: Window unit heating; Window unit cooling
• Interior features: Average condition; Two-unit building
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $759 ($9k/yr) — positive. Per door: $380/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.8% 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 flat; 217 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); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,101/mo this rent would consume 61% of the median local household income ($61k/yr) (locally 1270% 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 $1k of loan paydown is wiped out by about $4k 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 + 0.7% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $32k; list at $150k implies a 376% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; flood insurance adds $427/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.07% ✓
• Cap rate: 15.78%
• Cash-on-cash: 33.88%
• DSCR: 2.51
• GRM: 4.0

CMA / ARV

• ARV (median comp): $338,231
• List price: $150,000
• Delta: -55.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3619-25 Delachaise St	0.13mi	4/4.0	2,162 (-3%)	7mo	$315,000	$146	75
2232-34 S Salcedo St	0.34mi	4/2.0	2,108 (-6%)	1mo	$391,237	$186	74
4325 27 Jena St	0.40mi	4/2.0	2,149 (-4%)	3mo	$307,500	$143	73
1505 07 S White St	0.50mi	5/2.0 (+1)	2,268 (+2%)	3mo	$144,900	$64	66
3235 37 Vincennes Pl	0.59mi	4/2.0	2,072 (-7%)	1mo	$150,000	$72	59
4419 21 Fontainebleau Dr	0.47mi	4/2.0	2,399 (+8%)	8mo	$440,000	$183	59
2900 General Taylor St	0.44mi	4/4.0	2,322 (+4%)	8mo	$387,000	$167	58
6204 S Rocheblave St	0.63mi	4/4.0	2,000 (-10%)	0mo	$402,500	$201	45
6208 S Rocheblave St	0.63mi	4/4.0	2,000 (-10%)	0mo	$402,500	$201	45
2217 Willow St	0.75mi	4/3.0	2,082 (-7%)	8mo	$189,000	$91	44
2634-36 Joseph St	0.72mi	5/3.5 (+1)	2,560 (+15%)	1mo	$275,000	$107	30
4324 26 Freret St	0.73mi	5/3.0 (+1)	2,522 (+13%)	8mo	$240,000	$95	28

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 11.0%
• Equity multiple: 1.42×
• Total profit: $17,564
• Equity at exit: $22,365

10-year hold

• IRR: 17.5%
• Equity multiple: 2.24×
• Total profit: $52,218
• Equity at exit: $12,969

Cash invested: $42,000 (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 70125

• Home prices YoY: -16.3%
• Rents YoY: 0.7%
• Active inventory: 217
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $3,101 high
• Mortgage (P&I): −$787
• Tax from tax record: −$415 /mo · $4,980/yr
• Insurance: −$62
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$651
• Net cashflow: $759

Break-even live

Break-even rent $2,140

Max offer price $150,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,100
Total (2 units)			$3,101

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4442 S Johnson St Unit 4442 New Orleans, LA	4.0	4.5	3000	$4,500	$1.50	11d	1	0.24mi
3350 Jena St New Orleans, LA	3.0	2.5	2200	$2,500	$1.14	43d	1	0.25mi
4603 S Miro St New Orleans, LA	3.0	2.0	1650	$1,650	$1.00	23d	1	0.27mi
4027 S Derbigny St New Orleans, LA	3.0	2.0	2950	$1,950	$0.66	23d	1	0.31mi
3636 Upperline St New Orleans, LA	3.0	1.0	1600	$1,975	$1.23	23d	1	0.31mi
3035 Delachaise St New Orleans, LA	3.0	1.0	1968	$1,750	$0.89	2d	1	0.35mi
3044 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1800	$1,900	$1.06	23d	1	0.35mi
2606 S Miro St New Orleans, LA	3.0	2.0	1450	$2,016	$1.39	23d	1	0.35mi
3200 Washington Ave Unit NA New Orleans, LA	4.0	3.0	2490	$3,400	$1.37	3d	1	0.37mi
2614 S Johnson St New Orleans, LA	3.0	2.0	1536	$2,079	$1.35	14d	1	0.39mi
2833 S Derbigny St New Orleans, LA	3.0	2.0	1500	$1,795	$1.20	23d	1	0.40mi
3112 Upperline St New Orleans, LA	5.0	3.5	2800	$3,650	$1.30	23d	1	0.41mi
2117 S Lopez St New Orleans, LA	5.0	2.0	1920	$2,000	$1.04	23d	1	0.42mi
5417 S Johnson St New Orleans, LA	3.0	3.0	1739	$2,900	$1.67	17d	1	0.48mi
5533 S Tonti St New Orleans, LA	4.0	4.0	3000	$3,000	$1.00	14d	1	0.49mi
4400 Elba St New Orleans, LA	3.0	2.0	1600	$1,875	$1.17	23d	1	0.50mi
3737 Nashville Ave New Orleans, LA	4.0	2.0	2000	$3,400	$1.70	21d	1	0.50mi
4403 Elba St New Orleans, LA	3.0	2.0	1400	$1,800	$1.29	3d	1	0.51mi
4401 Elba St New Orleans, LA	3.0	2.0	1400	$1,850	$1.32	23d	1	0.51mi
3429 Clara St New Orleans, LA	3.0	2.0	1620	$2,350	$1.45	14d	1	0.54mi
2717 Milan St New Orleans, LA	3.0	1.5	1850	$1,650	$0.89	14d	1	0.57mi
3180 State Street Dr New Orleans, LA	3.0	2.0	1600	$1,900	$1.19	10d	1	0.62mi
4120 Erato St New Orleans, LA	3.0	2.0	2250	$1,750	$0.78	23d	1	0.62mi
2600 Peniston St New Orleans, LA	4.0	2.0	2342	$3,500	$1.49	43d	1	0.67mi
4117 State Street Dr New Orleans, LA	3.0	1.0	1678	$1,550	$0.92	11d	1	0.68mi
2625 Jefferson Ave New Orleans, LA	4.0	2.0	2000	$2,600	$1.30	43d	1	0.72mi
2608 Magnolia St New Orleans, LA	4.0	2.5	1950	$3,200	$1.64	43d	1	0.74mi
5718 Cucullu St New Orleans, LA	4.0	3.0	1873	$2,500	$1.33	17d	1	0.75mi
2838 Palmer Ave New Orleans, LA	3.0	1.5	1500	$2,000	$1.33	17d	1	0.76mi
2834 Palmer Ave New Orleans, LA	3.0	2.0	1533	$2,800	$1.83	17d	1	0.76mi
2832 Palmer Ave Unit Up New Orleans, LA	4.0	2.0	1720	$2,900	$1.69	43d	1	0.76mi
2427 Soniat St New Orleans, LA	3.0	2.0	1500	$2,750	$1.83	17d	1	0.76mi
2425 Soniat St New Orleans, LA	3.0	2.5	1500	$2,850	$1.90	11d	1	0.76mi
2818 Palmer Ave New Orleans, LA	5.0	2.0	1832	$4,900	$2.67	43d	1	0.77mi
2814 Palmer Ave New Orleans, LA	3.0	2.0	1500	$2,400	$1.60	17d	1	0.78mi
6326 S Johnson St Unit 1 New Orleans, LA	5.0	2.0	2013	$3,950	$1.96	43d	1	0.78mi
2703 Palmer Ave New Orleans, LA	5.0	2.0	2349	$5,500	$2.34	43d	1	0.79mi
2715 Palmer Ave New Orleans, LA	5.0	2.0	2184	$4,900	$2.24	43d	1	0.80mi
2519 Octavia St New Orleans, LA	4.0	2.0	1600	$3,900	$2.44	43d	1	0.81mi
2824 Calhoun St Unit A New Orleans, LA	3.0	2.0	1828	$3,900	$2.13	43d	1	0.81mi

Listing history 17 events

1. 2026-06-18
   days on market $150,000 Active 37 DOM
2. 2026-06-17
   days on market $150,000 Active 36 DOM
3. 2026-06-16
   days on market $150,000 Active 35 DOM
4. 2026-06-15
   days on market $150,000 Active 34 DOM
5. 2026-06-13
   days on market $150,000 Active 32 DOM
6. 2026-06-10
   days on market $150,000 Active 29 DOM
7. 2026-06-09
   days on market $150,000 Active 28 DOM
8. 2026-06-08
   days on market $150,000 Active 27 DOM
9. 2026-06-07
   days on market $150,000 Active 26 DOM
10. 2026-06-05
    days on market $150,000 Active 23 DOM
11. 2026-06-03
    days on market $150,000 Active 22 DOM
12. 2026-06-02
    days on market $150,000 Active 21 DOM
13. 2026-06-01
    days on market $150,000 Active 20 DOM
14. 2026-05-31
    days on market $150,000 Active 19 DOM
15. 2026-05-12
    listed $150,000 Active 332-char remark

    Show marketing remark (316 chars)

    Investor special on South Miro Street! This duplex, offered at $150,000, has two units--each with a living room, dining room, two bedrooms, one bath, and a kitchen. One unit is updated, the other is gutted EVERYTHING REMAINS! Property sold as-is, no clean-out or repairs. Schedule your showing--this won't last long!

16. 2026-05-12
    listed $150,000 Active 316-char remark

    Show marketing remark (316 chars)

    Investor special on South Miro Street! This duplex, offered at $150,000, has two units--each with a living room, dining room, two bedrooms, one bath, and a kitchen. One unit is updated, the other is gutted EVERYTHING REMAINS! Property sold as-is, no clean-out or repairs. Schedule your showing--this won't last long!

17. 1978-03-27
    soldstatus $31,500

ⓘ 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: $4,980 · $415/mo
• Projected year-2 tax: $4,980 · $415/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 AE · 78% 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: $37,212
• − Mortgage interest: −$8,402
• − Property taxes: −$4,980
• − Insurance: −$5,868
• − Repairs & maintenance: −$2,977
• − Management: −$2,977
• − Depreciation: −$4,364
• Taxable income: $7,643
• Est. tax owed @ 24.0%: −$1,834
• After-tax cash flow: $7,275/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): 17,821
• Household income: $61,174
• Rent vs Own: 53.3% rent · 46.7% own
• Severe rent burden: 1270.0

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 0.63)
• Race & ethnicity: Black 51% White 32% Hispanic / Latino 9% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Romanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 1% Chinese 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: ▼ -49.68%
• Current HPI: 255.5998
• Rent YoY: ▲ 0.73%
• 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

+376.2% since first listed

3 events — show timeline

• 2026-05-12 Listed $150,000 AcadianaMLS
• 2026-05-12 Listed $150,000 GSREIN
• 1978-03-27 Sold (Public Records) $31,500 Public Records

Property tax history

+13.8%/yr

Latest (2026): $4,980 · +475.7% YoY. Source: county tax records.