8217-19 Apple St · New Orleans, LA 70118

$129,000

4 bd · 2.0 ba · 1,632 sqft · MultiFamily public records · 8 Days on market

Built 1920 3,600 sqft lot Est $215k · 40% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Renovation opportunity in the Carrollton Neighborhood. Very convenient Uptown location one block to S Carrollton Ave. Shotgun double with original wood floors throughout. The property is a great candidate for state and federal historic tax credits.

Key facts

• Historic tax credits
• Original wood floors
• Uptown location

Tags

• RENOVATION OPPORTUNITY
• CARROLLTON NEIGHBORHOOD
• UPTOWN LOCATION
• ORIGINAL WOOD FLOORS
• HISTORIC TAX CREDITS

Property features AI

Exterior

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

Interior

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

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $129k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $129k).
• Cap rate 19.2% 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; 279 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,911/mo this rent would consume 55% of the median local household income ($64k/yr) (locally 2237% 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 $892 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 + 1.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1920 — 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 $129,000

Questions for the listing agent

1. Built in 1920 — 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: 2.26% ✓
• Cap rate: 19.20%
• Cash-on-cash: 46.08%
• DSCR: 3.05
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $215,424
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8316 18 S Claiborne Ave	0.20mi	4/2.0	1,610 (-1%)	10mo	$125,000	$78	80
8628 30 Apple St	0.29mi	4/2.0	1,558 (-4%)	6mo	$205,000	$132	74
8335 37 S Claiborne Ave	0.16mi	4/2.0	1,809 (+11%)	4mo	$175,000	$97	71
8839-37 Colapissa St	0.54mi	4/2.0	1,568 (-4%)	10mo	$120,000	$77	60
2717 A Cherry St	0.70mi	4/2.0	1,704 (+4%)	2mo	$187,000	$110	59
8517 19 Forshey St	0.51mi	4/2.0	1,512 (-7%)	8mo	$219,000	$145	58
3316 18 Joliet St	0.51mi	4/2.0	1,512 (-7%)	8mo	$220,000	$146	57
8319 21 Birch St	0.69mi	4/2.0	1,750 (+7%)	4mo	$339,000	$194	52
8828 Hickory St	0.72mi	3/2.5 (-1)	1,687 (+3%)	4mo	$169,000	$100	50
1832 Eagle St	0.65mi	3/3.0 (-1)	1,512 (-7%)	0mo	$90,000	$60	48
8840 Spruce St	0.62mi	4/4.0	1,875 (+15%)	1mo	$330,000	$176	37
1921 General Ogden St	0.63mi	4/4.0	1,875 (+15%)	1mo	$330,000	$176	37

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 · 0.97% rent growth · sell at horizon

5-year hold

• IRR: 38.4%
• Equity multiple: 2.59×
• Total profit: $57,481
• Equity at exit: $19,234

10-year hold

• IRR: 43.9%
• Equity multiple: 4.76×
• Total profit: $135,802
• Equity at exit: $11,154

Cash invested: $36,120 (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 70118

• Rents YoY: 1.0%
• Active inventory: 279
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,911 high
• Mortgage (P&I): −$676
• Tax from tax record: −$182 /mo · $2,188/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$611
• Net cashflow: $1,321

Break-even live

Break-even rent $1,239

Max offer price $129,000

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,910
Total (2 units)			$2,911

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2616 Cambronne St Unit 2618 New Orleans, LA	3.0	1.0	1200	$1,475	$1.23	23d	1	0.10mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.16mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.16mi
7933 Belfast St Unit Upper New Orleans, LA	3.0	2.0	1500	$2,400	$1.60	23d	1	0.21mi
2251 Cambronne St Unit A New Orleans, LA	3.0	1.5	1945	$2,495	$1.28	23d	1	0.25mi
2305 Joliet St New Orleans, LA	3.0	2.0	1451	$2,500	$1.72	43d	1	0.29mi
2308 Short St New Orleans, LA	3.0	2.0	1600	$2,800	$1.75	3d	1	0.31mi
2231 S Carrollton Ave Unit D New Orleans, LA	3.0	2.0	1600	$2,495	$1.56	23d	1	0.31mi
2527 Eagle St New Orleans, LA	3.0	2.0	1571	$2,200	$1.40	23d	1	0.35mi
7922 Colapissa St New Orleans, LA	4.0	2.0	1848	$2,400	$1.30	10d	1	0.36mi
7909 Sycamore St New Orleans, LA	3.0	2.0	2000	$2,400	$1.20	3d	1	0.39mi
8812 Apple St New Orleans, LA	3.0	2.0	1085	$1,650	$1.52	16d	1	0.39mi
2102 S Carrollton Ave New Orleans, LA	3.0	2.0	1800	$2,250	$1.25	11d	1	0.39mi
2102 S Carrollton Ave Unit NA New Orleans, LA	3.0	2.0	1800	$2,250	$1.25	10d	1	0.39mi
2101 S Carrollton Ave New Orleans, LA	4.0	2.0	1800	$2,400	$1.33	23d	1	0.41mi
7902 Sycamore St New Orleans, LA	4.0	2.0	1991	$3,200	$1.61	43d	1	0.41mi
2201 Burdette St New Orleans, LA	3.0	1.5	1800	$2,695	$1.50	17d	1	0.46mi
2835 Pine St Unit 2835 New Orleans, LA	3.0	2.0	1219	$2,995	$2.46	43d	1	0.46mi
2833 Pine St Unit 2833 New Orleans, LA	3.0	2.0	1219	$3,200	$2.63	19d	1	0.46mi
2116 Burdette St New Orleans, LA	3.0	1.0	1700	$1,975	$1.16	3d	1	0.47mi
8426 Spruce St New Orleans, LA	3.0	2.0	1700	$3,000	$1.76	43d	1	0.49mi
2741 Audubon St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	3d	1	0.56mi
8929 Colapissa St New Orleans, LA	3.0	1.0	1300	$1,400	$1.08	23d	1	0.57mi
8502 Edinburgh St New Orleans, LA	3.0	2.0	1456	$1,800	$1.24	3d	1	0.58mi
2338 Audubon St New Orleans, LA	3.0	2.0	1935	$2,000	$1.03	3d	1	0.61mi
2014 Lowerline St New Orleans, LA	3.0	1.5	1600	$2,850	$1.78	14d	1	0.62mi
8816 Olive St New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	23d	1	0.62mi
8816 Olive St Unit A-B New Orleans, LA	3.0	2.0	1200	$1,800	$1.50	16d	1	0.62mi
2308 Audubon St New Orleans, LA	4.0	1.5	1480	$3,050	$2.06	16d	1	0.62mi
9107 Fig St New Orleans, LA	3.0	3.0	1230	$2,000	$1.63	3d	1	0.63mi
2201 Broadway St Unit 2 New Orleans, LA	4.0	2.0	2000	$3,000	$1.50	43d	1	0.64mi
2203 Broadway St New Orleans, LA	3.0	2.0	1491	$3,000	$2.01	21d	1	0.64mi
7616 Cohn St Unit A New Orleans, LA	3.0	2.5	1492	$3,300	$2.21	17d	1	0.68mi
1836 General Ogden St New Orleans, LA	3.0	2.0	1368	$1,675	$1.22	23d	1	0.69mi
2010 Broadway St New Orleans, LA	4.0	2.0	1600	$2,400	$1.50	23d	1	0.70mi
8626 Green St New Orleans, LA	3.0	1.5	1450	$1,500	$1.03	17d	1	0.72mi
4117 State Street Dr New Orleans, LA	3.0	1.0	1678	$1,550	$0.92	11d	1	0.74mi
8815 Palm St New Orleans, LA	3.0	2.0	1195	$2,100	$1.76	23d	1	0.75mi
1526 Dante St New Orleans, LA	3.0	3.0	1446	$3,000	$2.07	17d	1	0.75mi
1517 Dante St New Orleans, LA	3.0	1.0	1500	$1,700	$1.13	17d	1	0.76mi

Listing history 6 events

1. 2026-06-18
   days on market $129,000 Active 8 DOM
2. 2026-06-17
   days on market $129,000 Active 7 DOM
3. 2026-06-16
   days on market $129,000 Active 6 DOM
4. 2026-06-15
   days on market $129,000 Active 5 DOM
5. 2026-06-13
   remarks 248-char remark
6. 2026-06-13
   listed $129,000 Active 3 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: $2,188 · $182/mo
• Projected year-2 tax: $2,188 · $182/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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,932
• − Mortgage interest: −$7,226
• − Property taxes: −$2,188
• − Insurance: −$1,442
• − Repairs & maintenance: −$2,795
• − Management: −$2,795
• − Depreciation: −$3,753
• Taxable income: $14,734
• Est. tax owed @ 24.0%: −$3,536
• After-tax cash flow: $12,312/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): 36,072
• Household income: $63,750
• Rent vs Own: 51.5% rent · 48.5% own
• Severe rent burden: 2237.0

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 0.65)
• Race & ethnicity: White 47% Black 34% Hispanic / Latino 11% Two or more races 11% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Italian 2% Romanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 86% English-only · Spanish 7% French/Haitian/Cajun 2% Other Indo-European 2%

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: ▼ -210.46%
• Current HPI: 282.9629
• Rent YoY: ▲ 0.97%
• 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

1 event — show timeline

• 2026-06-10 Listed $129,000 AcadianaMLS

Property tax history

+2.9%/yr

Latest (2026): $2,188 · +1.1% YoY. Source: county tax records.