2426-28 Clara St · New Orleans, LA 70113

$65,000

4 bd · 2.0 ba · 1,560 sqft · MultiFamily public records · 23 Days on market

Built 1900 1,742 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 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

A Central City Gem awaits you! This old New Orleans shotgun double is set in the shadow of the Superdome! Soaring high ceilings, spacious eat-in kitchens and separate back yard spaces are a lovely part of each of these identical units. With demand increasing in the developing Central City area, your renovation work will be worth the effort. This property has been placed in an upcoming auction event. Buyers must sign up and place bids though www. xome.com. All bids should be submitted at www. xome.com/auctions. Please submit any pre-auction offer received through the property details page on Xome.com. Any post-auction offers will need to be submitted directly to the listing agent. All offers

Key facts

• 1,742 sq ft lot
• Listed 23 days

Tags

• OLD NEW ORLEANS SHOTGUN DOUBLE
• SOARING HIGH CEILINGS
• SPACIOUS EAT-IN KITCHENS
• SEPARATE BACK YARD SPACES

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; Other construction materials

Interior

• Heating & cooling: No heating system specified; No cooling system specified
• Interior features: No central heating; No central cooling

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $65k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 37.6% 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.
• Zoned schools: Benjamin Franklin Elem. Math And Science (math 12% / reading 23%, grade F, #479 of 646 statewide, top 75%, 747 students, 98% FRL, charter) — zoned schools average 98% FRL vs 68% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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).

Forward outlook

• In year one you build about $7k of equity ($449 loan paydown + $6k 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 $18k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 26y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — 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 $64,025 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 4.15% ✓
• Cap rate: 37.59%
• Cash-on-cash: 111.78%
• DSCR: 5.97
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $173,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2620-22 Philip St	0.11mi	4/2.0	1,472 (-6%)	8mo	$159,000	$108	78
2624-2626 Jackson Ave	0.13mi	4/2.0	1,713 (+10%)	6mo	$159,900	$93	72
2113 15 S Liberty St	0.35mi	4/2.0	1,624 (+4%)	10mo	$228,500	$141	68
1809 11 Third St	0.64mi	4/2.0	1,585 (+2%)	1mo	$260,000	$164	66
3511 13 Third St	0.26mi	4/2.0	1,680 (+8%)	12mo	$80,000	$48	65
2700-2702 S Johnson St	0.43mi	4/3.0	1,600 (+3%)	9mo	$315,000	$197	65
2223 25 Felicity St	0.39mi	4/2.0	1,465 (-6%)	10mo	$155,000	$106	64
2219 21 Toledano St	0.54mi	4/2.0	1,640 (+5%)	4mo	$232,000	$141	63
3717 S Johnson St	0.61mi	4/2.0	1,605 (+3%)	7mo	$145,000	$90	61
2820-22 Milan St	0.67mi	4/2.0	1,704 (+9%)	0mo	$305,000	$179	53
3020 22 Gen Taylor St	0.59mi	4/2.0	1,717 (+10%)	7mo	$190,000	$111	50
3528 30 Toledano St	0.63mi	5/2.0 (+1)	1,700 (+9%)	2mo	$133,000	$78	49

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: —
• Equity multiple: 9.11×
• Total profit: $147,546
• Equity at exit: $58,557

10-year hold

• IRR: —
• Equity multiple: 21.45×
• Total profit: $372,127
• Equity at exit: $126,281

Cash invested: $18,200 (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 70113

• Rents YoY: 6.0%
• Active inventory: 134
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,698 high
• Mortgage (P&I): −$341
• Tax from tax record: −$68 /mo · $818/yr
• Insurance: −$27
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $1,629

Break-even live

Break-even rent $636

Max offer price $65,000

Occupancy floor 35%

Sensitivity live

Price	-10% $1,666	-5% $1,647	+0% $1,629	+5% $1,610	+10% $1,592
Rent	-10% $1,416	-5% $1,522	+0% $1,629	+5% $1,735	+10% $1,842
Rate	-1.0pp $1,662	-0.5pp $1,645	base $1,629	+0.5pp $1,612	+1.0pp $1,595

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,698
Total (2 units)			$2,698

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: $16,250
• Closing costs: $1,950
• 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	45d	1	0.09mi
3108 Second St New Orleans, LA	3.0	3.0	1216	$2,100	$1.73	5d	1	0.24mi
3120 Second St New Orleans, LA	3.0	3.0	1256	$2,050	$1.63	25d	1	0.26mi
3122 2nd St New Orleans, LA	3.0	3.0	1206	$2,075	$1.72	25d	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	25d	1	0.32mi
2722 Martin L King Bl New Orleans, LA	3.0	2.5	1350	$1,800	$1.33	25d	1	0.33mi
2123 S Liberty St Unit 2125 New Orleans, LA	3.0	2.0	1500	$2,100	$1.40	5d	1	0.36mi
2225 2nd St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	25d	1	0.36mi
2526 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1200	$2,200	$1.83	5d	1	0.38mi
2614 S Johnson St New Orleans, LA	3.0	2.0	1536	$2,079	$1.35	16d	1	0.40mi
1407 Magnolia St New Orleans, LA	3.0	2.0	1824	$1,500	$0.82	25d	1	0.40mi
3218 Jackson Ave New Orleans, LA	3.0	2.0	1267	$1,750	$1.38	25d	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	25d	1	0.41mi
3044 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1800	$1,900	$1.06	25d	1	0.44mi
3429 Clara St New Orleans, LA	3.0	2.0	1620	$2,350	$1.45	16d	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	25d	1	0.46mi
3435 Magnolia St New Orleans, LA	3.0	1.0	1050	$1,500	$1.43	25d	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	25d	1	0.48mi
2102 Josephine St New Orleans, LA	4.0	2.0	1286	$2,100	$1.63	25d	1	0.50mi
1944 Jackson Ave New Orleans, LA	3.0	2.5	1572	$2,500	$1.59	45d	1	0.52mi
2539 Amelia St New Orleans, LA	3.0	2.0	1296	$2,200	$1.70	25d	1	0.52mi
2606 S Miro St New Orleans, LA	3.0	2.0	1450	$2,016	$1.39	25d	1	0.52mi
2733 Danneel St New Orleans, LA	4.0	2.0	1350	$1,775	$1.31	25d	1	0.54mi
1915 Philip St New Orleans, LA	3.0	1.5	1300	$2,450	$1.88	25d	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	16d	1	0.63mi
4206 S Derbigny St New Orleans, LA	3.0	1.0	1300	$1,600	$1.23	25d	1	0.63mi
2717 Milan St New Orleans, LA	3.0	1.5	1850	$1,650	$0.89	16d	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	45d	1	0.65mi
2713 Baronne St New Orleans, LA	3.0	2.5	1600	$2,300	$1.44	25d	1	0.65mi
3212 Danneel St New Orleans, LA	3.0	2.0	1945	$2,000	$1.03	25d	1	0.67mi
2931 Baronne St New Orleans, LA	3.0	1.0	1145	$1,510	$1.32	25d	1	0.72mi
4305 S Johnson St Unit 4305 New Orleans, LA	3.0	1.0	1175	$1,595	$1.36	13d	1	0.73mi

Listing history 16 events

1. 2026-06-21
   days on market $65,000 Active 23 DOM
2. 2026-06-19
   price $65,000 Active 20 DOM
3. 2026-06-18
   days on market $70,000 Active 20 DOM
4. 2026-06-17
   days on market $70,000 Active 19 DOM
5. 2026-06-16
   days on market $70,000 Active 18 DOM
6. 2026-06-15
   days on market $70,000 Active 17 DOM
7. 2026-06-13
   days on market $70,000 Active 15 DOM
8. 2026-06-10
   days on market $70,000 Active 12 DOM
9. 2026-06-09
   days on market $70,000 Active 11 DOM
10. 2026-06-08
    days on market $70,000 Active 10 DOM
11. 2026-06-07
    days on market $70,000 Active 9 DOM
12. 2026-06-05
    days on market $70,000 Active 6 DOM
13. 2026-06-03
    days on market $70,000 Active 5 DOM
14. 2026-06-02
    days on market $70,000 Active 4 DOM
15. 2026-06-01
    days on market $70,000 Active 3 DOM
16. 2026-05-31
    days on market $70,000 Active 2 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: $818 · $68/mo
• Projected year-2 tax: $818 · $68/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,376
• − Mortgage interest: −$3,641
• − Property taxes: −$818
• − Insurance: −$1,122
• − Repairs & maintenance: −$2,590
• − Management: −$2,590
• − Depreciation: −$1,891
• Taxable income: $19,723
• Est. tax owed @ 24.0%: −$4,734
• After-tax cash flow: $14,812/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

+180.0% since first listed

12 events — show timeline

• 2026-05-29 Listed $70,000 AcadianaMLS
• 2005-06-08 Sold (MLS) $95,000 GSREIN
• 2005-05-25 Listed $95,000 GSREIN
• 2005-05-25 Listed $95,000 AcadianaMLS
• 2004-04-22 Sold (MLS) $28,100 GSREIN
• 2003-12-29 Listed $34,900 GSREIN
• 2003-12-29 Listed $34,900 AcadianaMLS
• 2001-01-26 Sold (Public Records) $61,000 Public Records
• 2001-01-12 Sold (MLS) $29,000 GSREIN
• 2000-05-25 Listed $30,000 GSREIN
• 2000-05-25 Listed $30,000 AcadianaMLS
• 1996-07-12 Sold (Public Records) $25,000 Public Records

Property tax history

-5.0%/yr

Latest (2026): $818 · +1.1% YoY. Source: county tax records.