1919 21 S Rendon St · New Orleans, LA 70125

$324,900

4 bd · 2.0 ba · 2,070 sqft · MultiFamily public records · 72 Days on market

Built 1955 $157/sqft · at area comps Est $339k · at est.

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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 +19.2/30.0
• ARV discount +9.4/15.0
• DSCR +6.0/10.0
• 1% rule +5.2/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Set in the Fontainebleau neighborhood, this well-located duplex offers easy access to nearby restaurants, shops, universities, and a quick drive to downtown. The property features a practical upper and lower layout, each with 2 bedrooms and 1 full bath. Both units offer spacious living and dining areas with good natural light, along with updated kitchens featuring granite counters and stainless appliances. Bedrooms are positioned toward the rear with a shared hall bath including a tub and shower combination. The lower unit has wood-look tile floors, while the upper unit features wood flooring. Each unit also includes its own in-unit laundry. A large backyard provides plenty of outdoor space, and a driveway allows for off-street parking. Roof is less than 5 years old.

Key facts

• Parking
• Built 1955
• Listed 72 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $-78 ($-939/yr) — negative. Per door: $-39/mo.
• To cash-flow at today's rent, offer at most $311k (4.3% below list).
• Meets the 1% rule at list price ($3k rent vs $325k).
• Recommended offer: $305k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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; 219 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); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,302/mo this rent would consume 65% 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 $10k 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 72 days — a 6% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 18y 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; built in 1955 — 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $305,406 (6.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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.
10. 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.
11. 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: 1.02% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.59%
• DSCR: 1.20
• GRM: 8.2

CMA / ARV

• ARV (median comp): $339,023
• List price: $324,900
• Delta: -4.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3235 37 Vincennes Pl	0.17mi	4/2.0	2,072 (+0%)	1mo	$150,000	$72	91
2232-34 S Salcedo St	0.26mi	4/2.0	2,108 (+2%)	1mo	$391,237	$186	84
4325 27 Jena St	0.18mi	4/2.0	2,149 (+4%)	3mo	$307,500	$143	83
6208 S Rocheblave St	0.42mi	4/4.0	2,000 (-3%)	0mo	$402,500	$201	66
6204 S Rocheblave St	0.42mi	4/4.0	2,000 (-3%)	0mo	$402,500	$201	66
1505 07 S White St	0.40mi	5/2.0 (+1)	2,268 (+10%)	3mo	$144,900	$64	58
3619-25 Delachaise St	0.54mi	4/4.0	2,162 (+4%)	7mo	$315,000	$146	54
3526 Louisiana Ave Pkwy	0.59mi	4/2.0	2,200 (+6%)	11mo	$153,000	$70	53
2900-02 Calhoun St	0.72mi	4/2.0	2,022 (-2%)	13mo	$482,000	$238	52
3034 36 Upperline St	0.59mi	3/2.0 (-1)	2,000 (-3%)	14mo	$211,000	$106	50
7709 11 Sycamore St	0.71mi	4/2.0	1,887 (-9%)	14mo	$445,000	$236	40
3329 General Taylor St	0.67mi	5/3.5 (+1)	2,314 (+12%)	18mo	$320,000	$138	23

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: -21.0%
• Equity multiple: 0.29×
• Total profit: $-64,688
• Equity at exit: $48,444

10-year hold

• IRR: -22.0%
• Equity multiple: 0.01×
• Total profit: $-90,361
• Equity at exit: $28,091

Cash invested: $90,972 (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: 219
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $3,302 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$421 /mo · $5,054/yr
• Insurance: −$135
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$693
• Net cashflow: $-78

Break-even live

Break-even rent $3,401

Max offer price $311,070

Occupancy floor 97%

Sensitivity live

Price	-10% $106	-5% $14	+0% $-78	+5% $-170	+10% $-262
Rent	-10% $-339	-5% $-209	+0% $-78	+5% $52	+10% $183
Rate	-1.0pp $85	-0.5pp $4	base $-78	+0.5pp $-162	+1.0pp $-248

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,302
Total (2 units)			$3,302

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4400 Elba St New Orleans, LA	3.0	2.0	1600	$1,875	$1.17	24d	1	0.11mi
4403 Elba St New Orleans, LA	3.0	2.0	1400	$1,800	$1.29	4d	1	0.14mi
2117 S Lopez St New Orleans, LA	5.0	2.0	1920	$2,000	$1.04	24d	1	0.14mi
4401 Elba St New Orleans, LA	3.0	2.0	1400	$1,850	$1.32	24d	1	0.14mi
4117 State Street Dr New Orleans, LA	3.0	1.0	1678	$1,550	$0.92	13d	1	0.18mi
3737 Nashville Ave New Orleans, LA	4.0	2.0	2000	$3,400	$1.70	22d	1	0.19mi
3636 Upperline St New Orleans, LA	3.0	1.0	1600	$1,975	$1.23	24d	1	0.34mi
5533 S Tonti St New Orleans, LA	4.0	4.0	3000	$3,000	$1.00	15d	1	0.42mi
4120 Erato St New Orleans, LA	3.0	2.0	2250	$1,750	$0.78	24d	1	0.43mi
4603 S Miro St New Orleans, LA	3.0	2.0	1650	$1,650	$1.00	24d	1	0.44mi
2338 Audubon St New Orleans, LA	3.0	2.0	1935	$2,000	$1.03	4d	1	0.46mi
3180 State Street Dr New Orleans, LA	3.0	2.0	1600	$1,900	$1.19	11d	1	0.47mi
2308 Audubon St New Orleans, LA	4.0	1.5	1480	$3,050	$2.06	17d	1	0.49mi
2203 Broadway St New Orleans, LA	3.0	2.0	1491	$3,000	$2.01	22d	1	0.57mi
2201 Broadway St Unit 2 New Orleans, LA	4.0	2.0	2000	$3,000	$1.50	45d	1	0.58mi
3350 Jena St New Orleans, LA	3.0	2.5	2200	$2,500	$1.14	45d	1	0.58mi
4442 S Johnson St Unit 4442 New Orleans, LA	4.0	4.5	3000	$4,500	$1.50	13d	1	0.59mi
5417 S Johnson St New Orleans, LA	3.0	3.0	1739	$2,900	$1.67	18d	1	0.60mi
7325 Sycamore St New Orleans, LA	4.0	3.0	2500	$2,350	$0.94	24d	1	0.65mi
6326 S Johnson St Unit 1 New Orleans, LA	5.0	2.0	2013	$3,950	$1.96	45d	1	0.67mi
2010 Broadway St New Orleans, LA	4.0	2.0	1600	$2,400	$1.50	24d	1	0.69mi
3112 Upperline St New Orleans, LA	5.0	3.5	2800	$3,650	$1.30	24d	1	0.69mi
2606 S Miro St New Orleans, LA	3.0	2.0	1450	$2,016	$1.39	24d	1	0.69mi
7922 Colapissa St New Orleans, LA	4.0	2.0	1848	$2,400	$1.30	11d	1	0.69mi
7933 Belfast St Unit Upper New Orleans, LA	3.0	2.0	1500	$2,400	$1.60	24d	1	0.71mi
2838 Palmer Ave New Orleans, LA	3.0	1.5	1500	$2,000	$1.33	18d	1	0.72mi
2834 Palmer Ave New Orleans, LA	3.0	2.0	1533	$2,800	$1.83	18d	1	0.72mi
2832 Palmer Ave Unit Up New Orleans, LA	4.0	2.0	1720	$2,900	$1.69	45d	1	0.73mi
2818 Palmer Ave New Orleans, LA	5.0	2.0	1832	$4,900	$2.67	45d	1	0.74mi
2824 Calhoun St Unit A New Orleans, LA	3.0	2.0	1828	$3,900	$2.13	45d	1	0.74mi
2201 Burdette St New Orleans, LA	3.0	1.5	1800	$2,695	$1.50	18d	1	0.75mi
2814 Palmer Ave New Orleans, LA	3.0	2.0	1500	$2,400	$1.60	18d	1	0.75mi
2014 Lowerline St New Orleans, LA	3.0	1.5	1600	$2,850	$1.78	15d	1	0.76mi
2738 Calhoun St New Orleans, LA	4.0	2.0	1900	$4,800	$2.53	4d	1	0.79mi
2116 Burdette St New Orleans, LA	3.0	1.0	1700	$1,975	$1.16	4d	1	0.79mi
2614 S Johnson St New Orleans, LA	3.0	2.0	1536	$2,079	$1.35	15d	1	0.79mi
2715 Palmer Ave New Orleans, LA	5.0	2.0	2184	$4,900	$2.24	45d	1	0.80mi
2703 Palmer Ave New Orleans, LA	5.0	2.0	2349	$5,500	$2.34	45d	1	0.81mi
4027 S Derbigny St New Orleans, LA	3.0	2.0	2950	$1,950	$0.66	24d	1	0.81mi
7909 Sycamore St New Orleans, LA	3.0	2.0	2000	$2,400	$1.20	4d	1	0.82mi

Listing history 34 events

1. 2026-06-21
   days on market $324,900 Active 72 DOM
2. 2026-06-18
   days on market $324,900 Active 69 DOM
3. 2026-06-17
   days on market $324,900 Active 68 DOM
4. 2026-06-16
   days on market $324,900 Active 67 DOM
5. 2026-06-15
   days on market $324,900 Active 66 DOM
6. 2026-06-13
   days on market $324,900 Active 64 DOM
7. 2026-06-10
   days on market $324,900 Active 61 DOM
8. 2026-06-09
   days on market $324,900 Active 60 DOM
9. 2026-06-08
   days on market $324,900 Active 59 DOM
10. 2026-06-07
    days on market $324,900 Active 58 DOM
11. 2026-06-05
    days on market $324,900 Active 55 DOM
12. 2026-06-03
    days on market $324,900 Active 54 DOM
13. 2026-06-02
    days on market $324,900 Active 53 DOM
14. 2026-06-02
    price $324,900 Active 52 DOM
15. 2026-06-01
    days on market $339,000 Active 52 DOM
16. 2026-05-31
    days on market $339,000 Active 51 DOM
17. 2026-04-10
    listed $339,000 Active 777-char remark

    Show marketing remark (777 chars)

    Set in the Fontainebleau neighborhood, this well-located duplex offers easy access to nearby restaurants, shops, universities, and a quick drive to downtown. The property features a practical upper and lower layout, each with 2 bedrooms and 1 full bath. Both units offer spacious living and dining areas with good natural light, along with updated kitchens featuring granite counters and stainless appliances. Bedrooms are positioned toward the rear with a shared hall bath including a tub and shower combination. The lower unit has wood-look tile floors, while the upper unit features wood flooring. Each unit also includes its own in-unit laundry. A large backyard provides plenty of outdoor space, and a driveway allows for off-street parking. Roof is less than 5 years old.

18. 2026-04-10
    listed $339,000 Active 777-char remark

    Show marketing remark (777 chars)

    Set in the Fontainebleau neighborhood, this well-located duplex offers easy access to nearby restaurants, shops, universities, and a quick drive to downtown. The property features a practical upper and lower layout, each with 2 bedrooms and 1 full bath. Both units offer spacious living and dining areas with good natural light, along with updated kitchens featuring granite counters and stainless appliances. Bedrooms are positioned toward the rear with a shared hall bath including a tub and shower combination. The lower unit has wood-look tile floors, while the upper unit features wood flooring. Each unit also includes its own in-unit laundry. A large backyard provides plenty of outdoor space, and a driveway allows for off-street parking. Roof is less than 5 years old.

19. 2024-04-12
    price $349,000
20. 2024-03-01
    listed $349,000
21. 2018-12-17
    soldstatus $294,000
22. 2018-11-02
    listed $297,000
23. 2011-02-17
    listed $109,000
24. 2011-02-17
    listed $109,000
25. 2009-05-27
    listed $129,000
26. 2009-05-27
    listed $129,000
27. 2009-04-01
    listed $159,000
28. 2009-04-01
    listed $159,000
29. 2009-01-01
    listed $149,000
30. 2009-01-01
    listed $149,000
31. 2008-11-06
    listed $149,000
32. 2008-11-06
    listed $149,000
33. 2008-04-02
    listed $149,000
34. 2008-04-02
    listed $149,000

ⓘ 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: $5,054 · $421/mo
• Projected year-2 tax: $5,054 · $421/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 · 77% 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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,624
• − Mortgage interest: −$18,199
• − Property taxes: −$5,054
• − Insurance: −$6,743
• − Repairs & maintenance: −$3,170
• − Management: −$3,170
• − Depreciation: −$9,452
• Taxable loss: −$6,164
• Est. tax savings @ 24.0%: +$1,479
• After-tax cash flow: $540/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

+127.5% since first listed

18 events — show timeline

• 2026-04-10 Listed $339,000 AcadianaMLS
• 2026-04-10 Listed $339,000 GSREIN
• 2024-04-12 Price Changed $349,000 GSREIN
• 2024-03-01 Listed $349,000 AcadianaMLS
• 2018-12-17 Sold (Public Records) $294,000 Public Records
• 2018-11-02 Listed $297,000 AcadianaMLS
• 2011-02-17 Listed $109,000 GSREIN
• 2011-02-17 Listed $109,000 AcadianaMLS
• 2009-05-27 Listed $129,000 GSREIN
• 2009-05-27 Listed $129,000 AcadianaMLS
• 2009-04-01 Listed $159,000 GSREIN
• 2009-04-01 Listed $159,000 AcadianaMLS
• 2009-01-01 Listed $149,000 GSREIN
• 2009-01-01 Listed $149,000 AcadianaMLS
• 2008-11-06 Listed $149,000 GSREIN
• 2008-11-06 Listed $149,000 AcadianaMLS
• 2008-04-02 Listed $149,000 GSREIN
• 2008-04-02 Listed $149,000 AcadianaMLS

Property tax history

+6.0%/yr

Latest (2026): $5,054 · +2.6% YoY. Source: county tax records.