3120 Broadway St · New Orleans, LA 70125

$250,000

4 bd · 2.0 ba · 1,560 sqft · MultiFamily public records · 43 Days on market

Built 1930 2,522 sqft lot $160/sqft · 30% above area Est $209k · 19% 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 +27.7/30.0
• DSCR +9.7/10.0
• 1% rule +7.1/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investor opportunity in the heart of New Orleans! This 4-bedroom, 2-bath duplex is currently occupied by a long-term tenant on one side, offering immediate rental income potential. Conveniently located with easy access to major streets, universities, shopping, dining, and public transportation. Whether you're looking to expand your investment portfolio or a property in a growing area, this property presents a great opportunity. Please do not disturb tenants. Showings by appointment only.

Key facts

• 2,522 sq ft lot
• Built 1930
• Listed 43 days

Property features AI

Finance

• Other: Energy-efficient lighting and water heater
• Financial info: Two-unit property

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-story; Raised foundation; Shingle roof; Hardboard exterior
• Construction: Built with hardboard exterior; Shingle roof; Raised foundation
• Exterior features: Fence; Porch; City lot with rectangular shape; Lot dimensions about 28 x 90

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Very good condition
• Laundry & utility: Washer hookup; Tenants pay electricity and water (multi-unit)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive. Per door: $343/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 20d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,022/mo this rent would consume 59% 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 $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 43 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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 $66/mo; built in 1930 — 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 $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1930 — 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: 1.21% ✓
• Cap rate: 9.91%
• Cash-on-cash: 12.90%
• DSCR: 1.57
• GRM: 6.9

CMA / ARV

• ARV (median comp): $209,370
• List price: $250,000
• Delta: 19.41%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3229 31 Vincennes Pl	0.48mi	4/2.0	1,620 (+4%)	1mo	$100,000	$62	70
3316 18 Joliet St	0.63mi	4/2.0	1,512 (-3%)	8mo	$220,000	$146	59
8517 19 Forshey St	0.65mi	4/2.0	1,512 (-3%)	8mo	$219,000	$145	58
745-47 S Genois St	0.75mi	4/2.0	1,610 (+3%)	3mo	$250,000	$155	58
3322 24 Joliet St	0.63mi	4/2.0	1,488 (-5%)	12mo	$229,000	$154	53
3328-30 Joliet St	0.64mi	4/2.0	1,488 (-5%)	12mo	$249,000	$167	53
8316 18 S Claiborne Ave	0.74mi	4/2.0	1,610 (+3%)	10mo	$125,000	$78	52
3315-17 Leonidas St	0.68mi	4/2.0	1,488 (-5%)	12mo	$249,000	$167	51
8200 02 Edinburgh St	0.51mi	4/4.0	1,534 (-2%)	24mo	$199,000	$130	46
4112 14 Thalia St	0.71mi	4/2.0	1,700 (+9%)	8mo	$235,000	$138	45
2513 15 Dante St	0.61mi	4/2.0	1,775 (+14%)	11mo	$234,600	$132	39

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: -1.4%
• Equity multiple: 0.95×
• Total profit: $-3,526
• Equity at exit: $37,276

10-year hold

• IRR: 5.8%
• Equity multiple: 1.38×
• Total profit: $26,861
• Equity at exit: $21,615

Cash invested: $70,000 (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: 13.8×

Monthly cashflow live

• Estimated rent: $3,022 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$220 /mo · $2,634/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$635
• Net cashflow: $686

Break-even live

Break-even rent $2,153

Max offer price $250,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,022
Total (2 units)			$3,022

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2835 Pine St Unit 2835 New Orleans, LA	3.0	2.0	1219	$2,995	$2.46	43d	1	0.17mi
2833 Pine St Unit 2833 New Orleans, LA	3.0	2.0	1219	$3,200	$2.63	20d	1	0.17mi
7922 Colapissa St New Orleans, LA	4.0	2.0	1848	$2,400	$1.30	10d	1	0.23mi
4814 Thalia St Unit B New Orleans, LA	3.0	2.0	1218	$1,850	$1.52	23d	1	0.23mi
4816 Thalia St New Orleans, LA	3.0	2.0	1218	$1,850	$1.52	23d	1	0.23mi
2741 Audubon St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	3d	1	0.28mi
4117 State Street Dr New Orleans, LA	3.0	1.0	1678	$1,550	$0.92	11d	1	0.33mi
7933 Belfast St Unit Upper New Orleans, LA	3.0	2.0	1500	$2,400	$1.60	23d	1	0.36mi
1603 S Rendon St New Orleans, LA	3.0	2.0	1329	$1,900	$1.43	20d	1	0.41mi
4520 Elba St New Orleans, LA	3.0	2.0	1100	$1,700	$1.55	23d	1	0.43mi
4702 Euphrosine St New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	3d	1	0.45mi
2338 Audubon St New Orleans, LA	3.0	2.0	1935	$2,000	$1.03	3d	1	0.50mi
4401 Elba St New Orleans, LA	3.0	2.0	1400	$1,850	$1.32	23d	1	0.50mi
4403 Elba St New Orleans, LA	3.0	2.0	1400	$1,800	$1.29	3d	1	0.50mi
4400 Elba St New Orleans, LA	3.0	2.0	1600	$1,875	$1.17	23d	1	0.51mi
2308 Audubon St New Orleans, LA	4.0	1.5	1480	$3,050	$2.06	16d	1	0.54mi
3737 Nashville Ave New Orleans, LA	4.0	2.0	2000	$3,400	$1.70	21d	1	0.57mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.59mi
8405 Apricot St New Orleans, LA	3.0	2.0	1058	$1,795	$1.70	3d	1	0.59mi
1318 S Salcedo St Unit 101 New Orleans, LA	4.0	2.0	1152	$1,775	$1.54	17d	1	0.59mi
1318 S Salcedo St Unit 202 New Orleans, LA	4.0	2.0	1152	$1,975	$1.71	23d	1	0.59mi
2117 S Lopez St New Orleans, LA	5.0	2.0	1920	$2,000	$1.04	23d	1	0.59mi
2308 Short St New Orleans, LA	3.0	2.0	1600	$2,800	$1.75	3d	1	0.61mi
2203 Broadway St New Orleans, LA	3.0	2.0	1491	$3,000	$2.01	21d	1	0.62mi
2201 Broadway St Unit 2 New Orleans, LA	4.0	2.0	2000	$3,000	$1.50	43d	1	0.63mi
2616 Cambronne St Unit 2618 New Orleans, LA	3.0	1.0	1200	$1,475	$1.23	23d	1	0.63mi
2201 Burdette St New Orleans, LA	3.0	1.5	1800	$2,695	$1.50	17d	1	0.64mi
7909 Sycamore St New Orleans, LA	3.0	2.0	2000	$2,400	$1.20	3d	1	0.66mi
8502 Edinburgh St New Orleans, LA	3.0	2.0	1456	$1,800	$1.24	3d	1	0.66mi
4120 Erato St New Orleans, LA	3.0	2.0	2250	$1,750	$0.78	23d	1	0.66mi
2231 S Carrollton Ave Unit D New Orleans, LA	3.0	2.0	1600	$2,495	$1.56	23d	1	0.66mi
7902 Sycamore St New Orleans, LA	4.0	2.0	1991	$3,200	$1.61	43d	1	0.67mi
2116 Burdette St New Orleans, LA	3.0	1.0	1700	$1,975	$1.16	3d	1	0.68mi
2010 Broadway St New Orleans, LA	4.0	2.0	1600	$2,400	$1.50	23d	1	0.75mi
2014 Lowerline St New Orleans, LA	3.0	1.5	1600	$2,850	$1.78	14d	1	0.75mi
2101 S Carrollton Ave New Orleans, LA	4.0	2.0	1800	$2,400	$1.33	23d	1	0.76mi
3180 State Street Dr New Orleans, LA	3.0	2.0	1600	$1,900	$1.19	10d	1	0.76mi
2251 Cambronne St Unit A New Orleans, LA	3.0	1.5	1945	$2,495	$1.28	23d	1	0.76mi
2102 S Carrollton Ave Unit NA New Orleans, LA	3.0	2.0	1800	$2,250	$1.25	10d	1	0.78mi
2102 S Carrollton Ave New Orleans, LA	3.0	2.0	1800	$2,250	$1.25	11d	1	0.78mi

Listing history 26 events

1. 2026-06-18
   days on market $250,000 Active 43 DOM
2. 2026-06-17
   days on market $250,000 Active 42 DOM
3. 2026-06-16
   days on market $250,000 Active 41 DOM
4. 2026-06-15
   days on market $250,000 Active 40 DOM
5. 2026-06-13
   days on market $250,000 Active 38 DOM
6. 2026-06-10
   days on market $250,000 Active 35 DOM
7. 2026-06-09
   days on market $250,000 Active 34 DOM
8. 2026-06-08
   days on market $250,000 Active 33 DOM
9. 2026-06-07
   days on market $250,000 Active 32 DOM
10. 2026-06-05
    days on market $250,000 Active 29 DOM
11. 2026-06-03
    days on market $250,000 Active 28 DOM
12. 2026-06-02
    days on market $250,000 Active 27 DOM
13. 2026-06-01
    days on market $250,000 Active 26 DOM
14. 2026-05-31
    days on market $250,000 Active 25 DOM
15. 2026-05-06
    listed $250,000 Active 499-char remark

    Show marketing remark (492 chars)

    Investor opportunity in the heart of New Orleans! This 4-bedroom, 2-bath duplex is currently occupied by a long-term tenant on one side, offering immediate rental income potential. Conveniently located with easy access to major streets, universities, shopping, dining, and public transportation. Whether you're looking to expand your investment portfolio or a property in a growing area, this property presents a great opportunity. Please do not disturb tenants. Showings by appointment only.

16. 2026-05-06
    listed $250,000 Active 492-char remark

    Show marketing remark (492 chars)

    Investor opportunity in the heart of New Orleans! This 4-bedroom, 2-bath duplex is currently occupied by a long-term tenant on one side, offering immediate rental income potential. Conveniently located with easy access to major streets, universities, shopping, dining, and public transportation. Whether you're looking to expand your investment portfolio or a property in a growing area, this property presents a great opportunity. Please do not disturb tenants. Showings by appointment only.

17. 2025-12-31
    price $249,950
18. 2025-12-31
    price $249,950
19. 2025-10-15
    listed $250,000 Active
20. 2022-03-23
    soldstatus $220,000
21. 2019-01-16
    soldstatus $133,000
22. 2018-09-24
    listed $135,500
23. 2014-11-17
    soldstatus $105,000
24. 2014-01-24
    listed $110,000
25. 2006-06-06
    soldstatus $75,000
26. 1999-11-01
    soldstatus $50,000

ⓘ 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: $2,634 · $220/mo
• Projected year-2 tax: $2,634 · $220/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: $36,264
• − Mortgage interest: −$14,004
• − Property taxes: −$2,634
• − Insurance: −$2,048
• − Repairs & maintenance: −$2,901
• − Management: −$2,901
• − Depreciation: −$7,273
• Taxable income: $4,503
• Est. tax owed @ 24.0%: −$1,081
• After-tax cash flow: $7,154/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

+400.0% since first listed

12 events — show timeline

• 2026-05-06 Listed $250,000 AcadianaMLS
• 2026-05-06 Listed $250,000 GSREIN
• 2025-12-31 Price Changed $249,950 AcadianaMLS
• 2025-12-31 Price Changed $249,950 GSREIN
• 2025-10-15 Listed $250,000 AcadianaMLS
• 2022-03-23 Sold (Public Records) $220,000 Public Records
• 2019-01-16 Sold (Public Records) $133,000 Public Records
• 2018-09-24 Listed $135,500 AcadianaMLS
• 2014-11-17 Sold (Public Records) $105,000 Public Records
• 2014-01-24 Listed $110,000 AcadianaMLS
• 2006-06-06 Sold (Public Records) $75,000 Public Records
• 1999-11-01 Sold (Public Records) $50,000 Public Records

Property tax history

+6.6%/yr

Latest (2026): $2,634 · +0.8% YoY. Source: county tax records.