3124 N Robertson St · New Orleans, LA 70117

$230,000

5 bd · 3.0 ba · 2,981 sqft · MultiFamily public records · 153 Days on market

Built 1950 5,610 sqft lot $77/sqft · 35% below area Est $356k · 35% 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 +3.1/5.0
• 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

Bywater duplex with 12-ft ceilings, original fireplaces, and large lot. Needs updating--great value-add or customization opportunity. Adjacent deep lot available. Flood Zone X, NEVER FLOODED. Preapproval/POF needed with offer. Measurements approx; buyer to verify.

Key facts

• Deep lot
• Large lot
• 12-ft ceilings

Tags

• 12-FT CEILINGS
• ORIGINAL FIREPLACES
• LARGE LOT
• DEEP LOT

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $572/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $230k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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 rising (+2.5%/yr); 581 active listings in the ZIP; 3 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 $3,515/mo this rent would consume 92% 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 $2k of loan paydown is wiped out by about $7k 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 $64k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $230k implies a 820% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 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 1950 — 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: 1.53% ✓
• Cap rate: 12.61%
• Cash-on-cash: 22.55%
• DSCR: 2.00
• GRM: 5.5

CMA / ARV

• ARV (median comp): $356,358
• List price: $230,000
• Delta: -35.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
813 15 Spain St	0.71mi	4/3.5 (-1)	3,031 (+2%)	4mo	$843,500	$278	53
3423 21 Burgundy St	0.48mi	6/5.5 (+1)	3,021 (+1%)	10mo	$640,000	$212	52
2535-37 N Rampart St	0.57mi	5/2.0	2,700 (-9%)	7mo	$350,000	$130	48
623-25 Louisa St	0.60mi	6/4.0 (+1)	3,252 (+9%)	4mo	$799,000	$246	44
827 29 Mazant St	0.73mi	6/4.0 (+1)	2,909 (-2%)	10mo	$339,900	$117	44
1612 14 Saint Roch Ave	0.66mi	6/4.0 (+1)	2,660 (-11%)	6mo	$500,000	$188	37
1837 39 France St	0.70mi	6/5.0 (+1)	2,814 (-6%)	10mo	$351,000	$125	37
3623 25 Dauphine St	0.58mi	5/3.5	3,252 (+9%)	23mo	$747,500	$230	37
2519 21 Burgundy St	0.61mi	4/3.5 (-1)	2,712 (-9%)	16mo	$413,000	$152	36
3900 Royal St	0.73mi	4/4.0 (-1)	2,600 (-13%)	12mo	$170,000	$65	26

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: 13.3%
• Equity multiple: 1.53×
• Total profit: $33,864
• Equity at exit: $34,294

10-year hold

• IRR: 21.7%
• Equity multiple: 2.81×
• Total profit: $116,328
• Equity at exit: $19,886

Cash invested: $64,400 (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: 10.9×

Monthly cashflow live

• Estimated rent: $3,515 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$265 /mo · $3,175/yr
• Insurance: −$96
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$738
• Net cashflow: $1,144

Break-even live

Break-even rent $2,067

Max offer price $230,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$3,516
Total (2 units)			$3,515

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3400 Royal St New Orleans, LA	4.0	3.5	3300	$6,900	$2.09	44d	1	0.60mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$6,144	$3.88	3d	2	0.80mi
1860 Burgundy St New Orleans, LA	4.0	4.0	3000	$3,500	$1.17	24d	1	1.16mi

Listing history 14 events

1. 2026-06-05
   days on market $230,000 Active 153 DOM
2. 2026-06-03
   days on market $230,000 Active 152 DOM
3. 2026-06-02
   days on market $230,000 Active 151 DOM
4. 2026-06-01
   days on market $230,000 Active 150 DOM
5. 2026-05-31
   days on market $230,000 Active 149 DOM
6. 2026-03-04
   price $230,000 264-char remark

   Show marketing remark (269 chars)

   Bywater duplex with 12-ft ceilings, original fireplaces, and large lot. Needs updating—great value-add or customization opportunity. Adjacent deep lot available. Flood Zone X, NEVER FLOODED. Preapproval/POF needed with offer. Measurements approx; buyer to verify.

7. 2026-03-04
   price $230,000 269-char remark

   Show marketing remark (269 chars)

   Bywater duplex with 12-ft ceilings, original fireplaces, and large lot. Needs updating—great value-add or customization opportunity. Adjacent deep lot available. Flood Zone X, NEVER FLOODED. Preapproval/POF needed with offer. Measurements approx; buyer to verify.

8. 2025-12-30
   listed $250,000 Active 264-char remark

   Show marketing remark (269 chars)

   Bywater duplex with 12-ft ceilings, original fireplaces, and large lot. Needs updating—great value-add or customization opportunity. Adjacent deep lot available. Flood Zone X, NEVER FLOODED. Preapproval/POF needed with offer. Measurements approx; buyer to verify.

9. 2025-12-30
   listed $250,000 Active 269-char remark

   Show marketing remark (269 chars)

   Bywater duplex with 12-ft ceilings, original fireplaces, and large lot. Needs updating—great value-add or customization opportunity. Adjacent deep lot available. Flood Zone X, NEVER FLOODED. Preapproval/POF needed with offer. Measurements approx; buyer to verify.

10. 2025-09-12
    price $316,000
11. 2025-09-12
    price $316,000
12. 2025-08-13
    listed $325,000 Active
13. 2025-06-07
    listed $254,900 Active
14. 1988-08-18
    soldstatus $25,000

ⓘ 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: $3,175 · $265/mo
• Projected year-2 tax: $3,175 · $265/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 7/10 Severe FEMA zone X · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,180
• − Mortgage interest: −$12,884
• − Property taxes: −$3,175
• − Insurance: −$1,948
• − Repairs & maintenance: −$3,374
• − Management: −$3,374
• − Depreciation: −$6,691
• Taxable income: $10,734
• Est. tax owed @ 24.0%: −$2,576
• After-tax cash flow: $11,149/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): 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

+820.0% since first listed

9 events — show timeline

• 2026-03-04 Price Changed $230,000 AcadianaMLS
• 2026-03-04 Price Changed $230,000 GSREIN
• 2025-12-30 Listed $250,000 GSREIN
• 2025-12-30 Listed $250,000 AcadianaMLS
• 2025-09-12 Price Changed $316,000 AcadianaMLS
• 2025-09-12 Price Changed $316,000 GSREIN
• 2025-08-13 Listed $325,000 AcadianaMLS
• 2025-06-07 Listed $254,900 AcadianaMLS
• 1988-08-18 Sold (Public Records) $25,000 Public Records

Property tax history

+11.9%/yr

Latest (2026): $3,175 · +325.5% YoY. Source: county tax records.