2012-14 Annette St · New Orleans, LA 70116

$250,000

4 bd · 2.0 ba · 1,688 sqft · MultiFamily public records · 152 Days on market

Built 1930 4,094 sqft lot $148/sqft · 14% above area Est $217k · 15% 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 +26.1/30.0
• DSCR +8.8/10.0
• 1% rule +6.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.7/15.0
• 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

Well kept, income producing, double shotgun located in the New Marigny. The home has a welcoming porch and a large back yard. Featuring a shot gun walkthrough style, cozy and comfortable. Good condition and convenient location make it an excellent option for those in search of a great investment Opportunity! Both units have existing tenants, one with a recorded lease. Flood zone X so no Flood Insurance is not mandatory but suggested and the duplex is raised as well. Must have 24 HR Approved Appointment thru ShowingTime.

Key facts

• Shot gun walkthrough
• Income producing
• Double shotgun

Tags

• INCOME PRODUCING
• DOUBLE SHOTGUN
• WELCOMING PORCH
• LARGE BACK YARD
• SHOT GUN WALKTHROUGH
• GREAT INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $563 ($7k/yr) — positive. Per door: $282/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 flat; 350 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 $2,880/mo this rent would consume 66% of the median local household income ($52k/yr) (locally 1001% 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 $8k 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 152 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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 $66/mo; built in 1930 — 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 $220,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 152 days. Have you received any prior offers? Is the seller open to a 12% 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 1930 — 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: 1.15% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.80%
• DSCR: 1.48
• GRM: 7.2

CMA / ARV

• ARV (median comp): $217,296
• List price: $250,000
• Delta: 15.05%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1727 29 Marigny St	0.50mi	4/2.0	1,716 (+2%)	1mo	$285,000	$166	73
1552 54 N Derbigny St	0.39mi	4/3.0	1,681 (-0%)	5mo	$330,000	$196	73
2134 Annette St	0.10mi	4/4.0	1,816 (+8%)	3mo	$210,000	$116	72
1737 39 Duels St	0.61mi	4/2.0	1,692 (+0%)	2mo	$200,000	$118	69
2211 13 Mandeville St	0.55mi	4/2.0	1,644 (-3%)	2mo	$195,000	$119	68
2118 20 Onzaga St	0.37mi	4/2.0	1,526 (-10%)	1mo	$182,000	$119	66
2714 16 New Orleans St	0.58mi	4/2.0	1,623 (-4%)	4mo	$230,000	$142	64
2520 22 D'abadie St	0.64mi	4/2.0	1,632 (-3%)	3mo	$278,600	$171	62
1834 36 Marigny St	0.45mi	4/2.0	1,508 (-11%)	2mo	$215,000	$143	59
1923-25 Pauger St	0.57mi	4/2.0	1,879 (+11%)	4mo	$70,000	$37	51
1805 07 St Roch Ave	0.71mi	4/2.0	1,914 (+13%)	1mo	$290,000	$152	43
2467/2469 N Tonti St	0.74mi	4/2.0	1,475 (-13%)	2mo	$175,000	$119	43

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 · 0.18% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.82×
• Total profit: $-12,548
• Equity at exit: $37,276

10-year hold

• IRR: 1.1%
• Equity multiple: 1.07×
• Total profit: $4,583
• Equity at exit: $21,615

Cash invested: $70,000 (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 70116

• Home prices YoY: -34.5%
• Rents YoY: 0.2%
• Active inventory: 350
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $2,880 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$230 /mo · $2,763/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$605
• Net cashflow: $563

Break-even live

Break-even rent $2,167

Max offer price $250,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,880
Total (2 units)			$2,880

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	0.11mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	0.11mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	43d	1	0.17mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	23d	1	0.20mi
2338 Annette St Unit 1 New Orleans, LA	3.0	1.0	1150	$1,400	$1.22	19d	1	0.22mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	23d	1	0.28mi
1735 N Tonti St New Orleans, LA	3.0	1.0	1197	$1,650	$1.38	23d	1	0.37mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	23d	1	0.38mi
2115 Elysian Fields Ave Unit 2115 New Orleans, LA	3.0	1.0	1100	$1,450	$1.32	23d	1	0.41mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	3d	1	0.41mi
1923 N Robertson St New Orleans, LA	3.0	2.0	1051	$1,950	$1.86	3d	1	0.44mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	23d	1	0.45mi
1710 Marigny St New Orleans, LA	3.0	2.0	1120	$1,750	$1.56	23d	1	0.51mi
2310 George Nick Connor Dr New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	23d	1	0.51mi
1472 N Claiborne Ave New Orleans, LA	3.0	1.0	1312	$1,900	$1.45	16d	1	0.54mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	23d	1	0.55mi
2329 Laharpe St New Orleans, LA	3.0	1.0	1250	$1,000	$0.80	19d	1	0.55mi
2817 Annette St New Orleans, LA	3.0	1.0	1100	$1,350	$1.23	23d	1	0.55mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	16d	1	0.59mi
2331 Columbus St New Orleans, LA	3.0	1.0	1976	$1,850	$0.94	23d	1	0.61mi
1818 Paul Morphy St Unit B New Orleans, LA	3.0	2.0	1065	$1,800	$1.69	23d	1	0.66mi
2338 40 Annette St New Orleans, LA	3.0	1.0	1150	$1,385	$1.20	20d	1	0.68mi
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	43d	1	0.68mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	43d	1	0.68mi
1217 Kerlerec St Unit B New Orleans, LA	3.0	1.0	1300	$2,100	$1.62	3d	1	0.71mi
1525 N Broad St New Orleans, LA	3.0	1.0	1100	$1,600	$1.45	23d	1	0.76mi
2152 Abundance St Unit 2152 New Orleans, LA	3.0	2.0	1100	$1,599	$1.45	3d	1	0.78mi
2910 Bruxelles St New Orleans, LA	3.0	2.0	1074	$1,600	$1.49	3d	1	0.79mi
3021 Republic St New Orleans, LA	4.0	2.0	1125	$2,200	$1.96	23d	1	0.83mi
2515 N Galvez St New Orleans, LA	4.0	2.0	1200	$1,200	$1.00	10d	1	0.83mi
2515 N Galvez St Unit 2515 New Orleans, LA	4.0	2.0	1200	$1,900	$1.58	23d	1	0.83mi
1035 N Derbigny St New Orleans, LA	3.0	1.0	1075	$1,399	$1.30	23d	1	0.84mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	16d	1	0.84mi
2522 N Galvez St New Orleans, LA	3.0	2.0	1105	$1,675	$1.52	23d	1	0.84mi
2524 N Galvez St New Orleans, LA	3.0	2.5	1102	$1,800	$1.63	17d	1	0.85mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	3d	1	0.86mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	3d	1	0.86mi
2664 Lepage St New Orleans, LA	3.0	2.0	1750	$2,725	$1.56	43d	1	0.89mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	3d	2	0.89mi
2517 Ursulines Ave New Orleans, LA	3.0	2.0	1136	$1,950	$1.72	23d	1	0.90mi

Listing history 20 events

1. 2026-06-18
   days on market $250,000 Active 152 DOM
2. 2026-06-17
   days on market $250,000 Active 151 DOM
3. 2026-06-16
   days on market $250,000 Active 150 DOM
4. 2026-06-15
   days on market $250,000 Active 149 DOM
5. 2026-06-13
   days on market $250,000 Active 147 DOM
6. 2026-06-10
   days on market $250,000 Active 144 DOM
7. 2026-06-09
   days on market $250,000 Active 143 DOM
8. 2026-06-08
   days on market $250,000 Active 142 DOM
9. 2026-06-07
   days on market $250,000 Active 141 DOM
10. 2026-06-05
    days on market $250,000 Active 138 DOM
11. 2026-06-03
    days on market $250,000 Active 137 DOM
12. 2026-06-02
    days on market $250,000 Active 136 DOM
13. 2026-06-01
    days on market $250,000 Active 135 DOM
14. 2026-05-31
    days on market $250,000 Active 134 DOM
15. 2026-01-17
    listed $250,000 Active 525-char remark

    Show marketing remark (525 chars)

    Well kept, income producing, double shotgun located in the New Marigny. The home has a welcoming porch and a large back yard. Featuring a shot gun walkthrough style, cozy and comfortable. Good condition and convenient location make it an excellent option for those in search of a great investment Opportunity! Both units have existing tenants, one with a recorded lease. Flood zone X so no Flood Insurance is not mandatory but suggested and the duplex is raised as well. Must have 24 HR Approved Appointment thru ShowingTime.

16. 2026-01-17
    listed $250,000 Active 525-char remark

    Show marketing remark (525 chars)

    Well kept, income producing, double shotgun located in the New Marigny. The home has a welcoming porch and a large back yard. Featuring a shot gun walkthrough style, cozy and comfortable. Good condition and convenient location make it an excellent option for those in search of a great investment Opportunity! Both units have existing tenants, one with a recorded lease. Flood zone X so no Flood Insurance is not mandatory but suggested and the duplex is raised as well. Must have 24 HR Approved Appointment thru ShowingTime.

17. 2023-07-06
    soldstatus $225,000
18. 2018-09-17
    soldstatus $170,000
19. 2018-07-13
    listed $170,000
20. 2017-08-02
    listed $170,000

ⓘ 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: $2,763 · $230/mo
• Projected year-2 tax: $2,763 · $230/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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,560
• − Mortgage interest: −$14,004
• − Property taxes: −$2,763
• − Insurance: −$2,048
• − Repairs & maintenance: −$2,765
• − Management: −$2,765
• − Depreciation: −$7,273
• Taxable income: $2,943
• Est. tax owed @ 24.0%: −$706
• After-tax cash flow: $6,053/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): 10,404
• Household income: $52,306
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 1001.0

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: White 45% Black 40% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Mexican 1% Cuban 3%
• Common ancestry: Lithuanian 6% Slovak 3% Romanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 2%

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: ▼ -144.83%
• Current HPI: 275.5453
• Rent YoY: ▲ 0.18%
• 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

+47.1% since first listed

6 events — show timeline

• 2026-01-17 Listed $250,000 AcadianaMLS
• 2026-01-17 Listed $250,000 GSREIN
• 2023-07-06 Sold (Public Records) $225,000 Public Records
• 2018-09-17 Sold (Public Records) $170,000 Public Records
• 2018-07-13 Listed $170,000 AcadianaMLS
• 2017-08-02 Listed $170,000 AcadianaMLS

Property tax history

+9.1%/yr

Latest (2026): $2,763 · +1.1% YoY. Source: county tax records.