2529 S Dorgenois St · New Orleans, LA 70125

$200,000

6 bd · 4.0 ba · 2,380 sqft · MultiFamily public records · 83 Days on market

Built 1900 3,484 sqft lot $84/sqft · 39% below area Est $329k · 39% under

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

TEAR DOWN. SOLD FOR LAND VALUE

Key facts

• 3,484 sq ft lot
• 2 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/?-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $576/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.8% 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; 217 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,516/mo this rent would consume 69% 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 $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 + 0.7% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($188k) 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: flood insurance adds $427/mo; built in 1900 — 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 $188,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.76% ✓
• Cap rate: 15.77%
• Cash-on-cash: 33.84%
• DSCR: 2.51
• GRM: 4.7

CMA / ARV

• ARV (median comp): $328,602
• List price: $200,000
• Delta: -39.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1704 06 S Dupre St	0.24mi	6/4.0	2,332 (-2%)	1mo	$359,000	$154	84
3964-66 Louisiana Ave Pkwy	0.20mi	6/2.0	2,372 (-0%)	0mo	$162,500	$69	82
1505 07 S White St	0.20mi	5/2.0 (-1)	2,268 (-5%)	3mo	$144,900	$64	67
1117 29 S Dupre St	0.38mi	6/4.0	2,592 (+9%)	4mo	$355,000	$137	64
3316 18 Delachaise St	0.50mi	6/6.0	2,462 (+3%)	14mo	$389,000	$158	51
3329 General Taylor St	0.48mi	5/3.5 (-1)	2,314 (-3%)	18mo	$320,000	$138	51
4824 Thalia St	0.73mi	6/4.0	2,500 (+5%)	13mo	$283,000	$113	47
2821-2823 First St	0.70mi	6/4.0	2,462 (+3%)	20mo	$363,000	$147	45
2909 1st St	0.66mi	5/3.0 (-1)	2,654 (+12%)	3mo	$75,000	$28	39
3803 05 State Street Dr	0.74mi	5/3.0 (-1)	2,707 (+14%)	2mo	$295,000	$109	32
1204-06 S Genois St	0.74mi	6/2.0	2,100 (-12%)	8mo	$155,000	$74	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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 15.3%
• Equity multiple: 1.60×
• Total profit: $33,361
• Equity at exit: $29,821

10-year hold

• IRR: 22.1%
• Equity multiple: 2.67×
• Total profit: $93,621
• Equity at exit: $17,292

Cash invested: $56,000 (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: 217
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $3,516 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$66 /mo · $794/yr
• Insurance: −$83
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$738
• Net cashflow: $1,153

Break-even live

Break-even rent $2,057

Max offer price $200,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,266	-5% $1,209	+0% $1,153	+5% $1,096	+10% $1,040
Rent	-10% $875	-5% $1,014	+0% $1,153	+5% $1,292	+10% $1,431
Rate	-1.0pp $1,253	-0.5pp $1,204	base $1,153	+0.5pp $1,101	+1.0pp $1,048

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	—	$3,516
Total (2 units)			$3,516

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2117 S Lopez St New Orleans, LA	5.0	2.0	1920	$2,000	$1.04	24d	1	0.56mi
3112 Upperline St New Orleans, LA	5.0	3.5	2800	$3,650	$1.30	24d	1	0.83mi
6326 S Johnson St Unit 1 New Orleans, LA	5.0	2.0	2013	$3,950	$1.96	44d	1	1.09mi
2818 Palmer Ave New Orleans, LA	5.0	2.0	1832	$4,900	$2.67	44d	1	1.12mi
6321 S Prieur St New Orleans, LA	6.0	2.0	1900	$4,200	$2.21	44d	1	1.13mi
2703 Palmer Ave New Orleans, LA	5.0	2.0	2349	$5,500	$2.34	44d	1	1.16mi
2715 Palmer Ave New Orleans, LA	5.0	2.0	2184	$4,900	$2.24	44d	1	1.16mi
2808 Calhoun St New Orleans, LA	6.0	4.0	3037	$7,500	$2.47	22d	1	1.16mi
2325 State St New Orleans, LA	5.0	3.0	1800	$4,000	$2.22	24d	1	1.32mi
1609 Broadway St New Orleans, LA	5.0	2.0	1776	$5,000	$2.82	44d	1	1.37mi
7011 Jeannette St Unit A New Orleans, LA	5.0	3.0	2200	$5,000	$2.27	44d	1	1.39mi
7015 Willow St New Orleans, LA	5.0	3.0	2000	$4,200	$2.10	44d	1	1.44mi
1519 Pine St New Orleans, LA	5.0	3.0	3000	$4,000	$1.33	24d	1	1.45mi
1927 Napoleon Ave New Orleans, LA	5.0	2.0	3350	$3,600	$1.07	44d	1	1.46mi
822 Howard Ave Unit 1272354P New Orleans, LA	1.0–5.0	1.0–4.0	1749	$11,882	$6.79	2d	3	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $200,000 Active 83 DOM
2. 2026-06-17
   days on market $200,000 Active 82 DOM
3. 2026-06-16
   days on market $200,000 Active 81 DOM
4. 2026-06-15
   days on market $200,000 Active 80 DOM
5. 2026-06-13
   days on market $200,000 Active 78 DOM
6. 2026-06-10
   days on market $200,000 Active 75 DOM
7. 2026-06-09
   days on market $200,000 Active 74 DOM
8. 2026-06-08
   days on market $200,000 Active 73 DOM
9. 2026-06-07
   days on market $200,000 Active 72 DOM
10. 2026-06-05
    days on market $200,000 Active 69 DOM
11. 2026-06-03
    days on market $200,000 Active 68 DOM
12. 2026-06-02
    days on market $200,000 Active 67 DOM
13. 2026-06-01
    days on market $200,000 Active 66 DOM
14. 2026-05-31
    days on market $200,000 Active 65 DOM
15. 2026-03-22
    listed $200,000 Active 30-char remark

    Show marketing remark (30 chars)

    TEAR DOWN. SOLD FOR LAND VALUE

16. 2026-03-22
    listed $200,000 Active 30-char remark

    Show marketing remark (30 chars)

    TEAR DOWN. SOLD FOR LAND VALUE

ⓘ 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: $794 · $66/mo
• Projected year-2 tax: $1,100 · $92/mo
• Expected delta: +$306/yr (+$25/mo · 38.5%)

ⓘ 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 · 78% 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: $42,192
• − Mortgage interest: −$11,203
• − Property taxes: −$794
• − Insurance: −$6,118
• − Repairs & maintenance: −$3,375
• − Management: −$3,375
• − Depreciation: −$5,818
• Taxable income: $11,507
• Est. tax owed @ 24.0%: −$2,762
• After-tax cash flow: $11,071/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

+0.0% since first listed

2 events — show timeline

• 2026-03-22 Listed $200,000 AcadianaMLS
• 2026-03-22 Listed $200,000 GSREIN

Property tax history

-3.4%/yr

Latest (2026): $794 · -59.2% YoY. Source: county tax records.