634 63 S Rendon St · New Orleans, LA 70119

$135,000

4 bd · 2.0 ba · 2,500 sqft · MultiFamily public records · 51 Days on market

Built 1950 4,839 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
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• 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

Calling all investors! This six-bedroom, four-bath shotgun double has been gutted to the studs and is ready for your renovation vision. Each side offers three bedrooms and two full baths, making it ideal for a flip or a strong income-producing rental. Some original wood floors remain, along with impressive 12-foot ceilings and generously sized rooms throughout. The property also features a nice backyard with plenty of potential. Restore it, reimagine it, and maximize the opportunity!

Key facts

• Original wood floors
• Nice backyard
• 12 foot ceilings

Tags

• ORIGINAL WOOD FLOORS
• 12 FOOT CEILINGS
• NICE BACKYARD

Property features AI

Finance

• Financial info: Two-unit property (duplex)

Exterior

• Utilities: No water available; Public sewer
• Home design: Single-story building; Raised foundation; Poor condition
• Construction: Wood siding; Asphalt shingle roof; Built with raised foundation
• Exterior features: Porch; Rectangular city lot

Interior

• Bedrooms: Unit 636: 3 bedrooms; Unit 634: 3 bedrooms
• Bathrooms: Unit 636: 2 full bathrooms; Unit 634: 2 full bathrooms; Total full bathrooms (property): 2
• Interior features: Accessibility features

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 $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.6% 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 soft (-0.2%/yr); 381 active listings in the ZIP; 20 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 $3,758/mo this rent would consume 85% of the median local household income ($53k/yr) (locally 3381% 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 $933 of loan paydown is wiped out by about $4k 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 + 0.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 22y 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.
• Current owner paid $65k; list at $135k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1950 — 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 $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.78% ✓
• Cap rate: 23.55%
• Cash-on-cash: 61.64%
• DSCR: 3.74
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $440,000
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3424 26 Banks St	0.26mi	4/3.0	2,524 (+1%)	16mo	$384,500	$152	69
312 S Cortez St	0.46mi	5/3.5 (+1)	2,509 (+0%)	2mo	$576,000	$230	65
129-31 N Genois St	0.58mi	4/2.0	2,159 (-14%)	1mo	$325,000	$151	50
3521 23 Cleveland Ave	0.45mi	5/3.0 (+1)	2,280 (-9%)	11mo	$437,500	$192	46
312 14 S Clark St	0.33mi	4/4.0	2,274 (-9%)	20mo	$438,000	$193	45
508-10 S Pierce St	0.53mi	4/2.0	2,184 (-13%)	12mo	$385,000	$176	44
4513-15 Thalia St	0.66mi	4/4.0	2,412 (-4%)	17mo	$230,000	$95	41
3834 36 Bienville St	0.73mi	4/2.0	2,164 (-13%)	15mo	$370,000	$171	31

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 41.5%
• Equity multiple: 2.69×
• Total profit: $63,989
• Equity at exit: $20,129

10-year hold

• IRR: 46.0%
• Equity multiple: 4.68×
• Total profit: $138,949
• Equity at exit: $11,672

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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $3,758 high
• Mortgage (P&I): −$708
• Tax from tax record: −$263 /mo · $3,155/yr
• Insurance: −$56
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$789
• Net cashflow: $1,515

Break-even live

Break-even rent $1,840

Max offer price $135,000

Occupancy floor 55%

Sensitivity live

Price	-10% $1,592	-5% $1,553	+0% $1,515	+5% $1,477	+10% $1,439
Rent	-10% $1,218	-5% $1,367	+0% $1,515	+5% $1,664	+10% $1,812
Rate	-1.0pp $1,583	-0.5pp $1,549	base $1,515	+0.5pp $1,480	+1.0pp $1,445

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,758
Total (2 units)			$3,758

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 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
227 S Gayoso St Unit 2h New Orleans, LA	3.0	2.0	1800	$2,500	$1.39	45d	1	0.34mi
4120 Erato St New Orleans, LA	3.0	2.0	2250	$1,750	$0.78	25d	1	0.66mi
4600 S Carrollton Ave Unit 2B New Orleans, LA	4.0	2.0	2097	$2,850	$1.36	25d	1	0.68mi
7922 Colapissa St New Orleans, LA	4.0	2.0	1848	$2,400	$1.30	11d	1	1.06mi
2117 S Lopez St New Orleans, LA	5.0	2.0	1920	$2,000	$1.04	25d	1	1.14mi
2731 Saint Philip St Unit 2733 New Orleans, LA	4.0	2.0	2000	$2,600	$1.30	25d	1	1.15mi
324 N Roman St New Orleans, LA	3.0	3.0	2100	$2,500	$1.19	45d	1	1.17mi
3737 Nashville Ave New Orleans, LA	4.0	2.0	2000	$3,400	$1.70	22d	1	1.21mi
4227 Saint Ann St New Orleans, LA	3.0	2.0	1900	$2,800	$1.47	4d	1	1.23mi
3232 Grand Rte Saint John St New Orleans, LA	3.0	3.0	2800	$5,000	$1.79	25d	1	1.28mi
3024 Esplanade Ave New Orleans, LA	3.0	2.5	2300	$4,500	$1.96	45d	1	1.33mi
4901 Iberville St New Orleans, LA	4.0	2.5	2256	$3,500	$1.55	45d	1	1.35mi
2338 Audubon St New Orleans, LA	3.0	2.0	1935	$2,000	$1.03	4d	1	1.36mi
3200 Washington Ave Unit NA New Orleans, LA	4.0	3.0	2490	$3,400	$1.37	4d	1	1.37mi
5533 S Tonti St New Orleans, LA	4.0	4.0	3000	$3,000	$1.00	16d	1	1.43mi
1407 Magnolia St New Orleans, LA	3.0	2.0	1824	$1,500	$0.82	25d	1	1.44mi
2664 Lepage St New Orleans, LA	3.0	2.0	1750	$2,725	$1.56	45d	1	1.45mi
4442 S Johnson St Unit 4442 New Orleans, LA	4.0	4.5	3000	$4,500	$1.50	13d	1	1.48mi
3350 Jena St New Orleans, LA	3.0	2.5	2200	$2,500	$1.14	45d	1	1.48mi
6465 Oakland Dr New Orleans, LA	3.0	2.5	2864	$4,000	$1.40	4d	1	1.49mi

Listing history 30 events

1. 2026-06-21
   days on market $135,000 Active 51 DOM
2. 2026-06-18
   days on market $135,000 Active 48 DOM
3. 2026-06-17
   days on market $135,000 Active 47 DOM
4. 2026-06-16
   days on market $135,000 Active 46 DOM
5. 2026-06-15
   days on market $135,000 Active 45 DOM
6. 2026-06-13
   days on market $135,000 Active 43 DOM
7. 2026-06-10
   statusdays on market $135,000 Active 40 DOM
8. 2026-05-01
   status Pending 488-char remark

   Show marketing remark (488 chars)

   Calling all investors! This six-bedroom, four-bath shotgun double has been gutted to the studs and is ready for your renovation vision. Each side offers three bedrooms and two full baths, making it ideal for a flip or a strong income-producing rental. Some original wood floors remain, along with impressive 12-foot ceilings and generously sized rooms throughout. The property also features a nice backyard with plenty of potential. Restore it, reimagine it, and maximize the opportunity!

9. 2026-05-01
   status Pending

   Show marketing remark (488 chars)

   Calling all investors! This six-bedroom, four-bath shotgun double has been gutted to the studs and is ready for your renovation vision. Each side offers three bedrooms and two full baths, making it ideal for a flip or a strong income-producing rental. Some original wood floors remain, along with impressive 12-foot ceilings and generously sized rooms throughout. The property also features a nice backyard with plenty of potential. Restore it, reimagine it, and maximize the opportunity!

10. 2026-03-23
    listed $135,000 Active 488-char remark

    Show marketing remark (488 chars)

    Calling all investors! This six-bedroom, four-bath shotgun double has been gutted to the studs and is ready for your renovation vision. Each side offers three bedrooms and two full baths, making it ideal for a flip or a strong income-producing rental. Some original wood floors remain, along with impressive 12-foot ceilings and generously sized rooms throughout. The property also features a nice backyard with plenty of potential. Restore it, reimagine it, and maximize the opportunity!

11. 2026-03-23
    listed $135,000 Active

    Show marketing remark (488 chars)

    Calling all investors! This six-bedroom, four-bath shotgun double has been gutted to the studs and is ready for your renovation vision. Each side offers three bedrooms and two full baths, making it ideal for a flip or a strong income-producing rental. Some original wood floors remain, along with impressive 12-foot ceilings and generously sized rooms throughout. The property also features a nice backyard with plenty of potential. Restore it, reimagine it, and maximize the opportunity!

12. 2011-01-20
    soldstatus $65,000
13. 2010-07-02
    listed $71,000 163-char remark

    Show marketing remark (163 chars)

    EXCELLENT INVESTMENT POTENTIAL.. CLOSE TO COURTS AND MINUTES AWAY FROM THE CENTRAL BUSINESS DISTRICT. SPACIOUS UNTIS WITH SEPARATE METERS AND INSIDE LAUNDRY ROOMS.

14. 2010-07-02
    listed $71,000

    Show marketing remark (163 chars)

    EXCELLENT INVESTMENT POTENTIAL.. CLOSE TO COURTS AND MINUTES AWAY FROM THE CENTRAL BUSINESS DISTRICT. SPACIOUS UNTIS WITH SEPARATE METERS AND INSIDE LAUNDRY ROOMS.

15. 2010-01-13
    listed $92,000
16. 2010-01-13
    listed $92,000
17. 2010-01-13
    listed $102,000
18. 2010-01-13
    listed $92,000
19. 2010-01-13
    listed $92,000
20. 2010-01-13
    listed $102,000
21. 2009-03-26
    listed $168,000
22. 2009-03-26
    listed $168,000
23. 2005-08-05
    soldstatus $161,000
24. 2005-06-29
    listed $149,900
25. 2005-06-29
    listed $149,900
26. 2004-11-05
    soldstatus $98,000
27. 2004-09-24
    listed $97,000
28. 2004-09-24
    listed $97,000
29. 1998-07-23
    soldstatus $45,000
30. 1988-06-15
    soldstatus $38,000

ⓘ 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: $3,155 · $263/mo
• Projected year-2 tax: $3,155 · $263/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 · 21 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: $45,096
• − Mortgage interest: −$7,562
• − Property taxes: −$3,155
• − Insurance: −$5,794
• − Repairs & maintenance: −$3,608
• − Management: −$3,608
• − Depreciation: −$3,927
• Taxable income: $17,443
• Est. tax owed @ 24.0%: −$4,186
• After-tax cash flow: $13,996/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): 37,253
• Household income: $53,143
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3381.0

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 0.64)
• Race & ethnicity: Black 44% White 40% Two or more races 10% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 0%

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: ▼ -135.38%
• Current HPI: 253.1929
• Rent YoY: ▼ -0.20%
• 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

+255.3% since first listed

23 events — show timeline

• 2026-05-01 Pending — AcadianaMLS
• 2026-05-01 Pending — GSREIN
• 2026-03-23 Listed $135,000 GSREIN
• 2026-03-23 Listed $135,000 AcadianaMLS
• 2011-01-20 Sold (MLS) $65,000 GSREIN
• 2010-07-02 Listed $71,000 GSREIN
• 2010-07-02 Listed $71,000 AcadianaMLS
• 2010-01-13 Listed $102,000 GSREIN
• 2010-01-13 Listed $92,000 GSREIN
• 2010-01-13 Listed $92,000 GSREIN
• 2010-01-13 Listed $102,000 AcadianaMLS
• 2010-01-13 Listed $92,000 AcadianaMLS
• 2010-01-13 Listed $92,000 AcadianaMLS
• 2009-03-26 Listed $168,000 GSREIN
• 2009-03-26 Listed $168,000 AcadianaMLS
• 2005-08-05 Sold (MLS) $161,000 GSREIN
• 2005-06-29 Listed $149,900 GSREIN
• 2005-06-29 Listed $149,900 AcadianaMLS
• 2004-11-05 Sold (MLS) $98,000 GSREIN
• 2004-09-24 Listed $97,000 AcadianaMLS
• 2004-09-24 Listed $97,000 GSREIN
• 1998-07-23 Sold (Public Records) $45,000 Public Records
• 1988-06-15 Sold (Public Records) $38,000 Public Records

Property tax history

+9.9%/yr

Latest (2026): $3,155 · -4.1% YoY. Source: county tax records.