1831 33 Elysian Fields Ave · New Orleans, LA 70117

$215,000

4 bd · 2.0 ba · 1,638 sqft · MultiFamily · 48 Days on market

Built 1950 Fair condition 6,046 sqft lot $131/sqft · 9% above area Est $198k · 9% 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 +28.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Livability +4.0/5.0
• ARV discount +3.5/15.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• 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

Classic New Orleans shotgun double situated on an oversized 36 x 188 lot, offering incredible potential and flexibility. Each side features 2 bedrooms and 1 full bath, making this property ideal for investors or owner-occupants looking to offset their mortgage. Both units enjoy off-street parking with driveways that run the full length of the home - offering the opportunity to add gates for secure, private parking. The 1833 side showcases beuatiful sold hardwood floors throughout, along with timeless New Orleans architectural details, including decorative stained wood trim around doors. Built-in solid wood butler's pantries add both charm and functionality to each unit. The 1831 side al

Key facts

• Foundation piers
• Oversized lot
• Off-street parking

Tags

• OVERSIZED LOT
• OFF-STREET PARKING
• SOLID HARDWOOD FLOORS
• DECORATIVE STAINED WOOD TRIM
• FOUNDATION PIERS
• BREAKER BOX ELECTRICAL SYSTEMS

Property features AI

Finance

• Financial info: Two-unit property

Exterior

• Parking: Driveway; Off-street parking; Three or more parking spaces; Boat access/parking; RV access/parking
• Utilities: Public water; Public sewer
• Home design: Single-story building; Raised foundation
• Construction: HardiPlank and wood siding exterior; Shingle roof; Built with a raised foundation
• Exterior features: City lot; Irregular lot shape; Oversized lot; Lot dimensions approximately 36 x 188

Interior

• Bedrooms: Two 2-bedroom units (unit 1831 and unit 1833)
• Bathrooms: Each unit has one full bathroom (2 full bathrooms total)
• Heating & cooling: Window unit heating; Window unit cooling
• Interior features: Average condition

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $215k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $716 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $209k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,787/mo this rent would consume 73% 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 $1k of loan paydown is wiped out by about $6k 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 $60k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $208,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.30% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.27%
• DSCR: 1.63
• GRM: 6.4

CMA / ARV

• ARV (median comp): $197,626
• List price: $215,000
• Delta: 8.79%
• 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
2211 13 Mandeville St	0.17mi	4/2.0	1,644 (+0%)	2mo	$195,000	$119	89
2132 Touro St	0.15mi	4/2.0	1,550 (-5%)	6mo	$169,000	$109	79
1727 29 Marigny St	0.32mi	4/2.0	1,716 (+5%)	1mo	$285,000	$166	77
1834 36 Marigny St	0.23mi	4/2.0	1,508 (-8%)	2mo	$215,000	$143	74
2105 07 Arts St	0.45mi	4/3.0	1,598 (-2%)	3mo	$265,000	$166	69
2467/2469 N Tonti St	0.36mi	4/2.0	1,475 (-10%)	2mo	$175,000	$119	65
2714 16 New Orleans St	0.67mi	4/2.0	1,623 (-1%)	4mo	$230,000	$142	64
2134 Annette St	0.36mi	4/4.0	1,816 (+11%)	3mo	$210,000	$116	55
1552 54 N Derbigny St	0.73mi	4/3.0	1,681 (+3%)	5mo	$330,000	$196	54
2118 20 Onzaga St	0.75mi	4/2.0	1,526 (-7%)	1mo	$182,000	$119	53
1345 Saint Anthony St	0.68mi	5/2.5 (+1)	1,776 (+8%)	7mo	$60,000	$34	42
1923-25 Pauger St	0.69mi	4/2.0	1,879 (+15%)	4mo	$70,000	$37	40

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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.16×
• Total profit: $9,377
• Equity at exit: $32,057

10-year hold

• IRR: 13.1%
• Equity multiple: 2.02×
• Total profit: $61,270
• Equity at exit: $18,589

Cash invested: $60,200 (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: 12.9×

Monthly cashflow live

• Estimated rent: $2,787 high
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$585
• Net cashflow: $716

Break-even live

Break-even rent $1,881

Max offer price $215,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,786
Total (2 units)			$2,787

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2115 Elysian Fields Ave Unit 2115 New Orleans, LA	3.0	1.0	1100	$1,450	$1.32	23d	1	0.07mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	3d	1	0.09mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	23d	1	0.19mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	23d	1	0.22mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	23d	1	0.25mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	23d	1	0.27mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	23d	1	0.31mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	0.33mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	0.33mi
1710 Marigny St New Orleans, LA	3.0	2.0	1120	$1,750	$1.56	23d	1	0.36mi
2338 Annette St Unit 1 New Orleans, LA	3.0	1.0	1150	$1,400	$1.22	20d	1	0.37mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	16d	1	0.46mi
2515 N Galvez St New Orleans, LA	4.0	2.0	1200	$1,200	$1.00	10d	1	0.47mi
2515 N Galvez St Unit 2515 New Orleans, LA	4.0	2.0	1200	$1,900	$1.58	23d	1	0.47mi
2522 N Galvez St New Orleans, LA	3.0	2.0	1105	$1,675	$1.52	23d	1	0.49mi
2524 N Galvez St New Orleans, LA	3.0	2.5	1102	$1,800	$1.63	17d	1	0.49mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	43d	1	0.50mi
1923 N Robertson St New Orleans, LA	3.0	2.0	1051	$1,950	$1.86	3d	1	0.53mi
2817 Annette St New Orleans, LA	3.0	1.0	1100	$1,350	$1.23	23d	1	0.55mi
2152 Abundance St Unit 2152 New Orleans, LA	3.0	2.0	1100	$1,599	$1.45	3d	1	0.60mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	16d	1	0.60mi
2338 40 Annette St New Orleans, LA	3.0	1.0	1150	$1,385	$1.20	20d	1	0.66mi
2310 George Nick Connor Dr New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	23d	1	0.71mi
1735 N Tonti St New Orleans, LA	3.0	1.0	1197	$1,650	$1.38	23d	1	0.72mi
1472 N Claiborne Ave New Orleans, LA	3.0	1.0	1312	$1,900	$1.45	16d	1	0.84mi
3327 Elysian Fields Ave New Orleans, LA	3.0	1.0	1200	$1,300	$1.08	23d	1	0.86mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	3d	2	0.87mi
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	43d	1	0.91mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	43d	1	0.91mi
1217 Kerlerec St Unit B New Orleans, LA	3.0	1.0	1300	$2,100	$1.62	3d	1	0.92mi
1818 Paul Morphy St Unit B New Orleans, LA	3.0	2.0	1065	$1,800	$1.69	23d	1	0.93mi
2329 Laharpe St New Orleans, LA	3.0	1.0	1250	$1,000	$0.80	20d	1	0.93mi
3021 Republic St New Orleans, LA	4.0	2.0	1125	$2,200	$1.96	23d	1	0.95mi
2322 Burgundy St Unit C New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	23d	1	0.95mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	16d	1	0.96mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	23d	1	0.96mi
2910 Bruxelles St New Orleans, LA	3.0	2.0	1074	$1,600	$1.49	3d	1	0.97mi
2331 Columbus St New Orleans, LA	3.0	1.0	1976	$1,850	$0.94	23d	1	0.99mi
3540 Clermont Dr New Orleans, LA	3.0	2.0	1248	$1,975	$1.58	23d	1	1.01mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	3d	1	1.01mi

Listing history 13 events

1. 2026-06-16
   statusdays on market $215,000 Pending 48 DOM
2. 2026-06-15
   days on market $215,000 Active 47 DOM
3. 2026-06-13
   days on market $215,000 Active 45 DOM
4. 2026-06-10
   days on market $215,000 Active 42 DOM
5. 2026-06-09
   days on market $215,000 Active 41 DOM
6. 2026-06-08
   days on market $215,000 Active 40 DOM
7. 2026-06-07
   days on market $215,000 Active 39 DOM
8. 2026-06-05
   days on market $215,000 Active 36 DOM
9. 2026-06-03
   days on market $215,000 Active 35 DOM
10. 2026-06-02
    days on market $215,000 Active 34 DOM
11. 2026-06-01
    days on market $215,000 Active 33 DOM
12. 2026-05-31
    days on market $215,000 Active 32 DOM
13. 2026-04-29
    listed $215,000 Active 1343-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $33,444
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,676
• − Management: −$2,676
• − Depreciation: −$6,255
• Taxable income: $5,495
• Est. tax owed @ 24.0%: −$1,319
• After-tax cash flow: $7,272/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This property requires moderate rehabilitation, focusing on exterior repairs, HVAC updates, and landscaping to improve its resale and rental value.

Repairs flagged

• Major siding — Significant damage and wear
• Major HVAC/mechanicals — No visible units

Value-add opportunities

• Both Landscaping and yard maintenance — Improves curb appeal and property value
• Both HVAC and mechanical updates — Enhances comfort and energy efficiency
• Both Exterior painting and repairs — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant damage and wear	Major	$15,000–50,000
HVAC/mechanicals · No visible units	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Landscaping and yard maintenance — Improves curb appeal and property value ↑
• Both HVAC and mechanical updates — Enhances comfort and energy efficiency ↑
• Both Exterior painting and repairs — Enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

4 events — show timeline

• 2026-06-16 Pending — GSREIN
• 2026-05-29 Relisted — GSREIN
• 2026-05-19 Contingent — GSREIN
• 2026-04-29 Listed $215,000 GSREIN