2621 Louisa St · New Orleans, LA 70117

$90,000

6 bd · 4.0 ba · 4,454 sqft · MultiFamily public records · 269 Days on market

Built 1940 3,423 sqft lot $20/sqft · 79% below area ↓ 28% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Investor Special!! Double shotgun for sale in the heart of NOLA. Complete this project for immediate cash flow with both units. Motivated seller! Call/text to schedule a walkthrough.

Key facts

• 3,423 sq ft lot
• Parking
• Built 1940

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 43.7% 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; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $4,575/mo this rent would consume 120% 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 $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 269 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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: property tax is 4.0% of price; flood insurance adds $427/mo; built in 1940 — 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 $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 269 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 5.08% ✓
• Cap rate: 43.66%
• Cash-on-cash: 133.44%
• DSCR: 6.94
• GRM: 1.6

CMA / ARV

• ARV (median comp): $214,900
• List price: $90,000
• Delta: -58.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.49% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.35×
• Total profit: $134,844
• Equity at exit: $13,419

10-year hold

• IRR: —
• Equity multiple: 13.09×
• Total profit: $304,595
• Equity at exit: $7,782

Cash invested: $25,200 (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: 3.3×

Monthly cashflow live

• Estimated rent: $4,575 high
• Mortgage (P&I): −$472
• Tax from tax record: −$302 /mo · $3,629/yr
• Insurance: −$38
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$961
• Net cashflow: $2,376

Break-even live

Break-even rent $1,568

Max offer price $90,000

Occupancy floor 43%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,574
Total (2 units)			$4,575

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $90,000 Active 269 DOM
2. 2026-06-17
   days on market $90,000 Active 268 DOM
3. 2026-06-16
   days on market $90,000 Active 267 DOM
4. 2026-06-15
   days on market $90,000 Active 266 DOM
5. 2026-06-13
   days on market $90,000 Active 264 DOM
6. 2026-06-10
   days on market $90,000 Active 261 DOM
7. 2026-06-09
   days on market $90,000 Active 260 DOM
8. 2026-06-08
   days on market $90,000 Active 259 DOM
9. 2026-06-07
   days on market $90,000 Active 258 DOM
10. 2026-06-05
    days on market $90,000 Active 255 DOM
11. 2026-06-03
    days on market $90,000 Active 254 DOM
12. 2026-06-02
    days on market $90,000 Active 253 DOM
13. 2026-06-01
    days on market $90,000 Active 252 DOM
14. 2026-05-31
    days on market $90,000 Active 251 DOM
15. 2026-03-17
    status Active 182-char remark

    Show marketing remark (182 chars)

    Investor Special!! Double shotgun for sale in the heart of NOLA. Complete this project for immediate cash flow with both units. Motivated seller! Call/text to schedule a walkthrough.

16. 2026-03-17
    status Active 182-char remark

    Show marketing remark (182 chars)

    Investor Special!! Double shotgun for sale in the heart of NOLA. Complete this project for immediate cash flow with both units. Motivated seller! Call/text to schedule a walkthrough.

17. 2026-01-28
    historical Active Under Contract 182-char remark

    Show marketing remark (182 chars)

    Investor Special!! Double shotgun for sale in the heart of NOLA. Complete this project for immediate cash flow with both units. Motivated seller! Call/text to schedule a walkthrough.

18. 2025-09-22
    listed $90,000 Active 182-char remark

    Show marketing remark (182 chars)

    Investor Special!! Double shotgun for sale in the heart of NOLA. Complete this project for immediate cash flow with both units. Motivated seller! Call/text to schedule a walkthrough.

19. 2025-09-22
    listed $90,000 Active 182-char remark

    Show marketing remark (182 chars)

    Investor Special!! Double shotgun for sale in the heart of NOLA. Complete this project for immediate cash flow with both units. Motivated seller! Call/text to schedule a walkthrough.

20. 2024-10-22
    price $100,000
21. 2024-10-22
    price $100,000
22. 2024-09-03
    price $125,000
23. 2024-07-11
    price $135,000
24. 2024-06-10
    listed $125,000 Active

ⓘ 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: $3,629 · $302/mo
• Projected year-2 tax: $3,629 · $302/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 9/10 Extreme FEMA zone AE · 99% 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,900
• − Mortgage interest: −$5,041
• − Property taxes: −$3,629
• − Insurance: −$5,568
• − Repairs & maintenance: −$4,392
• − Management: −$4,392
• − Depreciation: −$2,618
• Taxable income: $29,259
• Est. tax owed @ 24.0%: −$7,022
• After-tax cash flow: $21,487/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

-28.0% since first listed

10 events — show timeline

• 2026-03-17 Relisted — AcadianaMLS
• 2026-03-17 Relisted — GSREIN
• 2026-01-28 Contingent — GSREIN
• 2025-09-22 Listed $90,000 GSREIN
• 2025-09-22 Listed $90,000 AcadianaMLS
• 2024-10-22 Price Changed $100,000 AcadianaMLS
• 2024-10-22 Price Changed $100,000 GSREIN
• 2024-09-03 Price Changed $125,000 GSREIN
• 2024-07-11 Price Changed $135,000 GSREIN
• 2024-06-10 Listed $125,000 AcadianaMLS

Property tax history

+32.4%/yr

Latest (2026): $3,629 · +1.1% YoY. Source: county tax records.