805-07 Whitney Ave · New Orleans, LA 70114

$350,000

None bd · None ba · 3,155 sqft · MultiFamily · 67 Days on market

Fair condition 9,576 sqft lot $111/sqft · at area comps Est $364k · at est.

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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 +29.3/30.0
• DSCR +10.0/10.0
• ARV discount +9.2/15.0
• 1% rule +8.2/10.0
• Livability +4.0/5.0
• Rent growth +2.3/5.0
• 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 MLS

807-1 (downstairs unit) was renovated in 2021 and is currently vacant but we have an application processed and awaiting finalization. All 3 units have inside washer & dryer hookups. This property has a large rear yard and the separate side/corner lot IS INCLUDED. Tenants have occupied the 805 and 807 units for a number of years each. Photos of units 805 and 807 are prior to move-in. Both currently need interior paint jobs! Do not disturb tenants. Members of the LLC that own this property are a licensed Real Estate Broker and an agent.

Key facts

• Renovated
• Large rear yard
• 9,576 sq ft lot

Tags

• RENOVATED
• INSIDE WASHER DRYER HOOKUPS
• LARGE REAR YARD
• SEPARATE SIDE CORNER LOT

What this means for you Summary

Snapshot

• This is a multifamily listed at $350k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $350k).
• Recommended offer: $329k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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 (-0.7%/yr); 265 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $4,614/mo this rent would consume 127% of the median local household income ($43k/yr) (locally 2240% 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 $10k 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 67 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.
• 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 $329,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.32% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.02%
• DSCR: 1.67
• GRM: 6.3

CMA / ARV

• ARV (median comp): $363,786
• List price: $350,000
• Delta: -3.79%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
262 68 Vallette St	0.65mi	6/4.0	3,100 (-2%)	17mo	$441,500	$142	53
1400-02 Behrman Ave	0.51mi	8/4.0	3,346 (+6%)	17mo	$160,000	$48	52
505-07 Seguin St	0.75mi	8/4.0	3,315 (+5%)	10mo	$299,000	$90	49
803 Red Allen Way	0.42mi	5/3.0	2,808 (-11%)	21mo	$340,000	$121	44

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $3,744
• Equity at exit: $52,186

10-year hold

• IRR: 7.3%
• Equity multiple: 1.48×
• Total profit: $46,572
• Equity at exit: $30,262

Cash invested: $98,000 (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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 19.0×

Monthly cashflow live

• Estimated rent: $4,614 high
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$438 /mo · $5,250/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$969
• Net cashflow: $1,160

Break-even live

Break-even rent $3,146

Max offer price $350,000

Occupancy floor 70%

Sensitivity live

Price	-10% $1,402	-5% $1,281	+0% $1,160	+5% $1,039	+10% $918
Rent	-10% $795	-5% $978	+0% $1,160	+5% $1,342	+10% $1,524
Rate	-1.0pp $1,336	-0.5pp $1,249	base $1,160	+0.5pp $1,069	+1.0pp $977

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,614
Total (3 units)			$4,614

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
639 Desire St New Orleans, LA	3.0	2.5	2687	$5,500	$2.05	20d	1	1.05mi
1825 Murl St New Orleans, LA	3.0	2.0	2484	$1,750	$0.70	24d	1	1.24mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	44d	1	1.46mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	24d	1	1.46mi

Listing history 18 events

1. 2026-06-21
   days on market $350,000 Active 67 DOM
2. 2026-06-18
   days on market $350,000 Active 64 DOM
3. 2026-06-17
   days on market $350,000 Active 63 DOM
4. 2026-06-16
   days on market $350,000 Active 62 DOM
5. 2026-06-15
   days on market $350,000 Active 61 DOM
6. 2026-06-13
   days on market $350,000 Active 59 DOM
7. 2026-06-10
   days on market $350,000 Active 56 DOM
8. 2026-06-09
   days on market $350,000 Active 55 DOM
9. 2026-06-08
   days on market $350,000 Active 54 DOM
10. 2026-06-07
    days on market $350,000 Active 53 DOM
11. 2026-06-05
    days on market $350,000 Active 50 DOM
12. 2026-06-03
    days on market $350,000 Active 49 DOM
13. 2026-06-02
    days on market $350,000 Active 48 DOM
14. 2026-06-01
    days on market $350,000 Active 47 DOM
15. 2026-05-31
    days on market $350,000 Active 46 DOM
16. 2026-04-15
    listed $350,000 Active 544-char remark

    Show marketing remark (544 chars)

    807-1 (downstairs unit) was renovated in 2021 and is currently vacant but we have an application processed and awaiting finalization. All 3 units have inside washer & dryer hookups. This property has a large rear yard and the separate side/corner lot IS INCLUDED. Tenants have occupied the 805 and 807 units for a number of years each. Photos of units 805 and 807 are prior to move-in. Both currently need interior paint jobs! Do not disturb tenants. Members of the LLC that own this property are a licensed Real Estate Broker and an agent.

17. 2022-04-04
    listed $325,000
18. 2022-03-04
    listed $325,000

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X · 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,368
• − Mortgage interest: −$19,605
• − Property taxes: −$5,250
• − Insurance: −$2,548
• − Repairs & maintenance: −$4,429
• − Management: −$4,429
• − Depreciation: −$10,182
• Taxable income: $8,924
• Est. tax owed @ 24.0%: −$2,142
• After-tax cash flow: $11,776/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 renovations to update the kitchen and bathrooms, and replace the dated flooring. The exterior siding shows some wear but is otherwise in good condition.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate bathroom cabinets — dated and in need of updating
• Minor exterior siding — moderate wear

Value-add opportunities

• Both update kitchen cabinets — modernizing the kitchen would appeal to both buyers and renters
• Both update bathroom cabinets — modernizing the bathrooms would appeal to both buyers and renters
• Both replace checkered tile flooring — modernizing the flooring would appeal to both buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
bathroom cabinets · dated and in need of updating	Moderate	$3,000–15,000
exterior siding · moderate wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both update kitchen cabinets — modernizing the kitchen would appeal to both buyers and renters ↑
• Both update bathroom cabinets — modernizing the bathrooms would appeal to both buyers and renters ↑
• Both replace checkered tile flooring — modernizing the flooring would appeal to both buyers and renters ↑

ⓘ 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): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

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: Predominantly Black (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

+7.7% since first listed

3 events — show timeline

• 2026-04-15 Listed $350,000 AcadianaMLS
• 2022-04-04 Listed $325,000 AcadianaMLS
• 2022-03-04 Listed $325,000 AcadianaMLS