1025 27 Lamanche St · New Orleans, LA 70117

$75,000

4 bd · 2.0 ba · 1,560 sqft · MultiFamily public records · 3 Days on market

Built 1960 3,240 sqft lot

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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 +3.1/5.0
• 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

NEW RENOVATION IN HOLY CROSS HISTORIC DISTRICT! NEW KITCHEN CABINETS WITH TILE FLOORING AND NEW APPLIANCES(INCLUDING WASHER/DRYER), NEW CEILING FANS, WINDOW UNITS, & BEAUTIFULLY REFINISHED WOOD FLOORING. NEW DOORS! INTERIOR & EXTERIOR HAS ALSO BEEN PAINTED! ONE BLOCK OFF OF ST. CLAUDE! LIVE IN ONE UNIT AND LET THE OTHER UNIT PAY FOR SOME OF YOUR NOTE!

Key facts

• Multifamily property
• Full renovation
• 3,240 sq ft lot

Tags

• MULTIFAMILY PROPERTY
• FULL RENOVATION
• INCOME PRODUCING ASSET

Property features AI

Exterior

• Parking: No designated parking
• Home design: Duplex; 2 total units
• Construction: Wood siding; Composition roof
• Exterior features: Porch

Interior

• Heating & cooling: No heating; No cooling
• Interior features: No central heating; No central cooling

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $75k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $75k).
• Cap rate 33.5% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,781/mo this rent would consume 73% 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 $519 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 28y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1960 — 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: 3.71% ✓
• Cap rate: 33.51%
• Cash-on-cash: 97.21%
• DSCR: 5.33
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $159,120
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1001 3 Gordon St	0.14mi	4/2.0	1,580 (+1%)	22mo	$170,000	$108	72
5721 23 Royal St	0.24mi	4/2.0	1,508 (-3%)	20mo	$150,000	$99	67
5450-52 Burgundy St	0.22mi	4/2.0	1,471 (-6%)	23mo	$185,000	$126	62
5717 19 Royal St	0.24mi	4/2.0	1,716 (+10%)	14mo	$175,000	$102	61
5020 Chartres St	0.57mi	4/2.0	1,600 (+3%)	12mo	$177,000	$111	59
5406 Urquhart St	0.28mi	4/2.0	1,368 (-12%)	12mo	$90,000	$66	56
5445 47 Burgundy St	0.21mi	4/2.0	1,392 (-11%)	22mo	$133,000	$96	54
5445-47 Burgundy St	0.20mi	4/—	1,392 (-11%)	22mo	$133,000	$96	54
5443 45 Douglas St	0.41mi	3/2.0 (-1)	1,770 (+14%)	14mo	$210,000	$119	42
901 03 Jourdan Ave	0.67mi	4/2.0	1,767 (+13%)	18mo	$120,000	$68	32

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: 72.0%
• Equity multiple: 4.23×
• Total profit: $67,903
• Equity at exit: $11,183

10-year hold

• IRR: 75.7%
• Equity multiple: 8.58×
• Total profit: $159,082
• Equity at exit: $6,485

Cash invested: $21,000 (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: 4.5×

Monthly cashflow live

• Estimated rent: $2,781 high
• Mortgage (P&I): −$393
• Tax from tax record: −$71 /mo · $854/yr
• Insurance: −$31
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$584
• Net cashflow: $1,275

Break-even live

Break-even rent $1,167

Max offer price $75,000

Occupancy floor 49%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,782
Total (2 units)			$2,781

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
906 Flood St New Orleans, LA	3.0	3.0	1174	$1,700	$1.45	2d	1	0.17mi
5461 Saint Claude Ave New Orleans, LA	4.0	2.0	1250	$2,350	$1.88	23d	1	0.18mi
5459 Saint Claude Ave Unit 5461 New Orleans, LA	4.0	2.0	1454	$2,350	$1.62	23d	1	0.18mi
6038 N Rampart St New Orleans, LA	3.0	2.0	1080	$1,795	$1.66	23d	1	0.21mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1178	$1,600	$1.36	23d	1	0.21mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	3d	1	0.21mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	3d	1	0.21mi
1201 Gordon St New Orleans, LA	3.0	2.5	1367	$1,900	$1.39	17d	1	0.22mi
1314 Lamanche St New Orleans, LA	4.0	1.0	1300	$2,100	$1.62	16d	1	0.24mi
1327 Fats Domino Ave Unit B New Orleans, LA	4.0	2.0	1200	$2,200	$1.83	16d	1	0.27mi
1327 Fats Domino Ave Unit A New Orleans, LA	3.0	2.0	1200	$1,900	$1.58	3d	1	0.27mi
1422 Andry St New Orleans, LA	3.0	2.0	1100	$1,400	$1.27	3d	1	0.40mi
617 Forstall St New Orleans, LA	3.0	2.0	1262	$2,200	$1.74	3d	1	0.49mi
619 Reynes St New Orleans, LA	3.0	2.0	1318	$2,100	$1.59	16d	1	0.54mi
1714 Tricou St New Orleans, LA	3.0	2.0	1271	$1,900	$1.49	23d	1	0.63mi
1333 Angela Ave Arabi, LA	3.0	2.0	1090	$1,850	$1.70	2d	1	0.65mi
1925 Alabo St Unit A New Orleans, LA	3.0	2.0	1199	$1,500	$1.25	21d	1	0.67mi
1824 Saint Maurice Ave New Orleans, LA	4.0	2.0	1500	$1,500	$1.00	23d	1	0.70mi
1901 Tupelo St New Orleans, LA	3.0	2.5	1568	$2,300	$1.47	3d	1	0.71mi
6900 Royal St Arabi, LA	3.0	2.0	1579	$5,888	$3.73	2d	1	0.78mi
438 Friscoville Ave Arabi, LA	3.0	2.0	1500	$3,200	$2.13	2d	1	0.88mi
5618 N Tonti St New Orleans, LA	3.0	2.0	1128	$1,550	$1.37	23d	1	0.93mi
1019 Center St Arabi, LA	5.0	3.0	1973	$5,888	$2.98	1d	1	1.00mi
2012 Esteban St Arabi, LA	3.0	2.0	1466	$2,500	$1.71	10d	1	1.02mi
1239 Center St Arabi, LA	4.0	2.0	1922	$3,500	$1.82	2d	1	1.03mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	23d	1	1.10mi
4318 1/2 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	3d	1	1.12mi
4318 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	3d	1	1.13mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	11d	1	1.13mi
2539 Fats Domino Ave New Orleans, LA	3.0	2.0	1184	$1,850	$1.56	20d	1	1.15mi
2301 Esteban St Arabi, LA	3.0	1.0	1102	$1,800	$1.63	14d	1	1.18mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	23d	1	1.19mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	23d	1	1.19mi
1511 Schnell Dr Arabi, LA	4.0	3.0	1700	$1,850	$1.09	3d	1	1.19mi
1529 Schnell Dr Arabi, LA	3.0	2.5	1736	$2,600	$1.50	1d	1	1.23mi
4222 N Johnson St New Orleans, LA	3.0	2.0	1100	$1,895	$1.72	23d	1	1.33mi
1628 Bartholomew St New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	23d	1	1.38mi
310 Lynx Dr Arabi, LA	3.0	2.0	1050	$1,775	$1.69	23d	1	1.40mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.41mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	1.41mi

Listing history 6 events

1. 2026-06-18
   days on market $75,000 Active 3 DOM
2. 2026-06-17
   days on market $75,000 Active 2 DOM
3. 2026-06-16
   days on marketlisting id $75,000 Active 1 DOM
4. 2026-06-15
   days on market $75,000 Active 2 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $75,000 Active 1 DOM

ⓘ 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: $854 · $71/mo
• Projected year-2 tax: $854 · $71/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 · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 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: $33,372
• − Mortgage interest: −$4,201
• − Property taxes: −$854
• − Insurance: −$5,494
• − Repairs & maintenance: −$2,670
• − Management: −$2,670
• − Depreciation: −$2,182
• Taxable income: $15,302
• Est. tax owed @ 24.0%: −$3,672
• After-tax cash flow: $11,624/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

+294.7% since first listed

16 events — show timeline

• 2026-06-13 Listed $75,000 AcadianaMLS
• 2018-01-03 Sold (Public Records) $145,000 Public Records
• 2017-09-06 Listed $164,500 AcadianaMLS
• 2008-10-12 Listed $179,900 GSREIN
• 2008-10-12 Listed $179,900 AcadianaMLS
• 2005-04-15 Sold (MLS) $109,500 GSREIN
• 2005-03-28 Listed $125,000 AcadianaMLS
• 2005-03-28 Listed $125,000 GSREIN
• 2002-06-21 Sold (MLS) $74,000 GSREIN
• 2002-04-02 Listed $69,900 GSREIN
• 2002-04-02 Listed $69,900 AcadianaMLS
• 2000-06-23 Sold (Public Records) $18,000 Public Records
• 1998-11-24 Sold (MLS) $8,000 GSREIN
• 1998-09-15 Listed $13,000 AcadianaMLS
• 1998-09-15 Listed $13,000 GSREIN
• 1991-08-15 Sold (Public Records) $19,000 Public Records

Property tax history

-5.1%/yr

Latest (2026): $854 · -59.5% YoY. Source: county tax records.