2514 Clara St · New Orleans, LA 70113

$135,000

4 bd · 2.0 ba · 1,608 sqft · MultiFamily public records · 162 Days on market

Built 1950 3,920 sqft lot Est $178k · 24% under

---

Why this score? — see what drove the A 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
• Appreciation +10.0/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

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

INVESTORS'S SPECIAL!! 5 Bedroom / 2 Full Bath home. Will need a little TLC, but lots of potential for either the investor or owner/occupant looking for a fixer-upper at an affordable price. This property is being listed along side 2500-2512 Clara Street, which offers an opportunity to own 5 single family rental properties on same bock. Sold in As-Is condition. This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. A viewing release must be signed by anyone entering the property. Won't last long! Call your agent today to schedule your private showing.

Key facts

• 3,920 sq ft lot
• Parking
• Built 1950

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $695 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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 fast (+6.0%/yr); 134 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,175/mo this rent would consume 66% of the median local household income ($39k/yr) (locally 714% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 6.0% rent growth), your $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $40k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.61% ✓
• Cap rate: 12.47%
• Cash-on-cash: 22.05%
• DSCR: 1.98
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $178,488
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2624-2626 Jackson Ave	0.18mi	4/2.0	1,713 (+6%)	6mo	$159,900	$93	76
2620-22 Philip St	0.14mi	4/2.0	1,472 (-8%)	8mo	$159,000	$108	72
2113 15 S Liberty St	0.38mi	4/2.0	1,624 (+1%)	10mo	$228,500	$141	72
3511 13 Third St	0.25mi	4/2.0	1,680 (+4%)	12mo	$80,000	$48	71
2219 21 Toledano St	0.52mi	4/2.0	1,640 (+2%)	4mo	$232,000	$141	70
2700-2702 S Johnson St	0.41mi	4/3.0	1,600 (-0%)	9mo	$315,000	$197	69
3717 S Johnson St	0.58mi	4/2.0	1,605 (-0%)	7mo	$145,000	$90	67
1809 11 Third St	0.64mi	4/2.0	1,585 (-1%)	1mo	$260,000	$164	67
2820-22 Milan St	0.63mi	4/2.0	1,704 (+6%)	0mo	$305,000	$179	60
2223 25 Felicity St	0.43mi	4/2.0	1,465 (-9%)	9mo	$155,000	$106	58
3020 22 Gen Taylor St	0.56mi	4/2.0	1,717 (+7%)	7mo	$190,000	$111	57
3528 30 Toledano St	0.61mi	5/2.0 (+1)	1,700 (+6%)	2mo	$133,000	$78	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 5.98% rent growth · sell at horizon

5-year hold

• IRR: 42.6%
• Equity multiple: 4.30×
• Total profit: $124,564
• Equity at exit: $121,619

10-year hold

• IRR: 38.0%
• Equity multiple: 10.20×
• Total profit: $347,582
• Equity at exit: $262,275

Cash invested: $37,800 (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 70113

• Rents YoY: 6.0%
• Active inventory: 134
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,175 high
• Mortgage (P&I): −$708
• Tax from tax record: −$260 /mo · $3,115/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $695

Break-even live

Break-even rent $1,296

Max offer price $135,000

Occupancy floor 63%

Sensitivity live

Price	-10% $771	-5% $733	+0% $695	+5% $656	+10% $618
Rent	-10% $523	-5% $609	+0% $695	+5% $780	+10% $866
Rate	-1.0pp $763	-0.5pp $729	base $695	+0.5pp $660	+1.0pp $624

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2608 Magnolia St New Orleans, LA	4.0	2.5	1950	$3,200	$1.64	44d	1	0.09mi
3108 Second St New Orleans, LA	3.0	3.0	1216	$2,100	$1.73	4d	1	0.24mi
3120 Second St New Orleans, LA	3.0	3.0	1256	$2,050	$1.63	24d	1	0.26mi
3122 2nd St New Orleans, LA	3.0	3.0	1206	$2,075	$1.72	24d	1	0.26mi
2231 S Liberty St New Orleans, LA	3.0	3.5	1752	$2,000	$1.14	18d	1	0.32mi
2833 S Derbigny St New Orleans, LA	3.0	2.0	1500	$1,795	$1.20	24d	1	0.32mi
2722 Martin L King Bl New Orleans, LA	3.0	2.5	1350	$1,800	$1.33	24d	1	0.33mi
2123 S Liberty St Unit 2125 New Orleans, LA	3.0	2.0	1500	$2,100	$1.40	4d	1	0.36mi
2225 2nd St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	24d	1	0.36mi
2526 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1200	$2,200	$1.83	4d	1	0.38mi
2614 S Johnson St New Orleans, LA	3.0	2.0	1536	$2,079	$1.35	15d	1	0.40mi
1407 Magnolia St New Orleans, LA	3.0	2.0	1824	$1,500	$0.82	24d	1	0.40mi
3218 Jackson Ave New Orleans, LA	3.0	2.0	1267	$1,750	$1.38	24d	1	0.40mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1250	$2,300	$1.84	3d	1	0.41mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1232	$2,300	$1.87	24d	1	0.41mi
3044 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1800	$1,900	$1.06	24d	1	0.44mi
3429 Clara St New Orleans, LA	3.0	2.0	1620	$2,350	$1.45	15d	1	0.45mi
2107 Fourth St New Orleans, LA	3.0	1.0	1292	$1,775	$1.37	18d	1	0.46mi
2403 S Saratoga St New Orleans, LA	3.0	2.5	1600	$2,500	$1.56	24d	1	0.46mi
3435 Magnolia St New Orleans, LA	3.0	1.0	1050	$1,500	$1.43	24d	1	0.47mi
3035 Delachaise St New Orleans, LA	3.0	1.0	1968	$1,750	$0.89	3d	1	0.47mi
3208 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1391	$1,900	$1.37	18d	1	0.47mi
2318 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1400	$1,700	$1.21	24d	1	0.48mi
2102 Josephine St New Orleans, LA	4.0	2.0	1286	$2,100	$1.63	24d	1	0.50mi
1944 Jackson Ave New Orleans, LA	3.0	2.5	1572	$2,500	$1.59	44d	1	0.52mi
2539 Amelia St New Orleans, LA	3.0	2.0	1296	$2,200	$1.70	24d	1	0.52mi
2606 S Miro St New Orleans, LA	3.0	2.0	1450	$2,016	$1.39	24d	1	0.52mi
2733 Danneel St New Orleans, LA	4.0	2.0	1350	$1,775	$1.31	24d	1	0.54mi
1915 Philip St New Orleans, LA	3.0	1.5	1300	$2,450	$1.88	24d	1	0.55mi
3617 Fourth St Unit A New Orleans, LA	3.0	2.0	1225	$1,995	$1.63	18d	1	0.57mi
2301 Dryades St New Orleans, LA	3.0	3.0	2070	$3,000	$1.45	4d	1	0.58mi
2535 Marengo St New Orleans, LA	3.0	1.0	1300	$1,200	$0.92	15d	1	0.63mi
4206 S Derbigny St New Orleans, LA	3.0	1.0	1300	$1,600	$1.23	24d	1	0.63mi
2717 Milan St New Orleans, LA	3.0	1.5	1850	$1,650	$0.89	15d	1	0.64mi
3514 S Miro St New Orleans, LA	3.0	2.0	1230	$1,950	$1.59	18d	1	0.64mi
2625 Baronne St Unit 1 New Orleans, LA	3.0	1.5	2100	$2,600	$1.24	44d	1	0.65mi
2713 Baronne St New Orleans, LA	3.0	2.5	1600	$2,300	$1.44	24d	1	0.65mi
3212 Danneel St New Orleans, LA	3.0	2.0	1945	$2,000	$1.03	24d	1	0.67mi
2931 Baronne St New Orleans, LA	3.0	1.0	1145	$1,510	$1.32	24d	1	0.72mi
4305 S Johnson St Unit 4305 New Orleans, LA	3.0	1.0	1175	$1,595	$1.36	12d	1	0.73mi

Listing history 27 events

1. 2026-06-21
   statusdays on market $135,000 Pending 162 DOM
2. 2026-06-18
   days on market $135,000 Active 159 DOM
3. 2026-06-17
   days on market $135,000 Active 158 DOM
4. 2026-06-16
   days on market $135,000 Active 157 DOM
5. 2026-06-15
   days on market $135,000 Active 156 DOM
6. 2026-06-13
   days on market $135,000 Active 154 DOM
7. 2026-06-10
   days on market $135,000 Active 151 DOM
8. 2026-06-09
   days on market $135,000 Active 150 DOM
9. 2026-06-08
   days on market $135,000 Active 149 DOM
10. 2026-06-07
    days on market $135,000 Active 148 DOM
11. 2026-06-05
    days on market $135,000 Active 145 DOM
12. 2026-06-03
    days on market $135,000 Active 144 DOM
13. 2026-06-02
    days on market $135,000 Active 143 DOM
14. 2026-06-01
    days on market $135,000 Active 142 DOM
15. 2026-05-31
    days on market $135,000 Active 141 DOM
16. 2026-04-06
    status Pending 757-char remark

    Show marketing remark (757 chars)

    INVESTORS'S SPECIAL!! 5 Bedroom / 2 Full Bath home. Will need a little TLC, but lots of potential for either the investor or owner/occupant looking for a fixer-upper at an affordable price. This property is being listed along side 2500-2512 Clara Street, which offers an opportunity to own 5 single family rental properties on same bock. Sold in As-Is condition. This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. A viewing release must be signed by anyone entering the property. Won't last long! Call your agent today to schedule your private showing.

17. 2026-04-06
    status Pending

    Show marketing remark (757 chars)

    INVESTORS'S SPECIAL!! 5 Bedroom / 2 Full Bath home. Will need a little TLC, but lots of potential for either the investor or owner/occupant looking for a fixer-upper at an affordable price. This property is being listed along side 2500-2512 Clara Street, which offers an opportunity to own 5 single family rental properties on same bock. Sold in As-Is condition. This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. A viewing release must be signed by anyone entering the property. Won't last long! Call your agent today to schedule your private showing.

18. 2026-03-11
    price $135,000 757-char remark

    Show marketing remark (757 chars)

    INVESTORS'S SPECIAL!! 5 Bedroom / 2 Full Bath home. Will need a little TLC, but lots of potential for either the investor or owner/occupant looking for a fixer-upper at an affordable price. This property is being listed along side 2500-2512 Clara Street, which offers an opportunity to own 5 single family rental properties on same bock. Sold in As-Is condition. This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. A viewing release must be signed by anyone entering the property. Won't last long! Call your agent today to schedule your private showing.

19. 2026-03-11
    price $135,000

    Show marketing remark (757 chars)

    INVESTORS'S SPECIAL!! 5 Bedroom / 2 Full Bath home. Will need a little TLC, but lots of potential for either the investor or owner/occupant looking for a fixer-upper at an affordable price. This property is being listed along side 2500-2512 Clara Street, which offers an opportunity to own 5 single family rental properties on same bock. Sold in As-Is condition. This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. A viewing release must be signed by anyone entering the property. Won't last long! Call your agent today to schedule your private showing.

20. 2026-02-02
    price $165,000 757-char remark

    Show marketing remark (757 chars)

    INVESTORS'S SPECIAL!! 5 Bedroom / 2 Full Bath home. Will need a little TLC, but lots of potential for either the investor or owner/occupant looking for a fixer-upper at an affordable price. This property is being listed along side 2500-2512 Clara Street, which offers an opportunity to own 5 single family rental properties on same bock. Sold in As-Is condition. This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. A viewing release must be signed by anyone entering the property. Won't last long! Call your agent today to schedule your private showing.

21. 2026-01-30
    price $165,000
22. 2025-11-17
    listed $175,000 Active 757-char remark

    Show marketing remark (757 chars)

    INVESTORS'S SPECIAL!! 5 Bedroom / 2 Full Bath home. Will need a little TLC, but lots of potential for either the investor or owner/occupant looking for a fixer-upper at an affordable price. This property is being listed along side 2500-2512 Clara Street, which offers an opportunity to own 5 single family rental properties on same bock. Sold in As-Is condition. This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. A viewing release must be signed by anyone entering the property. Won't last long! Call your agent today to schedule your private showing.

23. 2025-11-17
    listed $175,000 Active

    Show marketing remark (757 chars)

    INVESTORS'S SPECIAL!! 5 Bedroom / 2 Full Bath home. Will need a little TLC, but lots of potential for either the investor or owner/occupant looking for a fixer-upper at an affordable price. This property is being listed along side 2500-2512 Clara Street, which offers an opportunity to own 5 single family rental properties on same bock. Sold in As-Is condition. This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. A viewing release must be signed by anyone entering the property. Won't last long! Call your agent today to schedule your private showing.

24. 2024-11-22
    soldstatus $466,666
25. 2022-02-17
    soldstatus $1,106,777
26. 2010-03-28
    listed $435,000
27. 1996-04-30
    soldstatus $44,000

ⓘ 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: $3,115 · $260/mo
• Projected year-2 tax: $3,115 · $260/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $26,102
• − Mortgage interest: −$7,562
• − Property taxes: −$3,115
• − Insurance: −$675
• − Repairs & maintenance: −$2,088
• − Management: −$2,088
• − Depreciation: −$3,927
• Taxable income: $6,645
• Est. tax owed @ 24.0%: −$1,595
• After-tax cash flow: $6,739/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): 9,387
• Household income: $39,333
• Rent vs Own: 75.4% rent · 24.6% own
• Severe rent burden: 714.0

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 0.57)
• Race & ethnicity: Black 61% White 20% Hispanic / Latino 13% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 2% Portuguese 1% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1% Vietnamese 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: ▲ 65.92%
• Current HPI: 229.3968
• Rent YoY: ▲ 5.98%
• 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

+206.8% since first listed

12 events — show timeline

• 2026-04-06 Pending — AcadianaMLS
• 2026-04-06 Pending — GSREIN
• 2026-03-11 Price Changed $135,000 AcadianaMLS
• 2026-03-11 Price Changed $135,000 GSREIN
• 2026-02-02 Price Changed $165,000 AcadianaMLS
• 2026-01-30 Price Changed $165,000 GSREIN
• 2025-11-17 Listed $175,000 GSREIN
• 2025-11-17 Listed $175,000 AcadianaMLS
• 2024-11-22 Sold (Public Records) $466,666 Public Records
• 2022-02-17 Sold (Public Records) $1,106,777 Public Records
• 2010-03-28 Listed $435,000 AcadianaMLS
• 1996-04-30 Sold (Public Records) $44,000 Public Records

Property tax history

+6.0%/yr

Latest (2026): $3,115 · +1.1% YoY. Source: county tax records.