1216-18 Gordon St · New Orleans, LA 70117

$359,000

None bd · None ba · 3,466 sqft · MultiFamily · 330 Days on market

Excellent condition 3,049 sqft lot $104/sqft · at area comps Est $377k · at est. ↓ 10% since listing

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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 +23.4/30.0
• ARV discount +9.6/15.0
• DSCR +7.5/10.0
• 1% rule +6.1/10.0
• Condition / age +4.8/5.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Discover this pristine duplex, for both investors and owner-occupants seeking a fantastic opportunity. Each unit features 4 spacious bedrooms and 2.5 modern bathrooms, complete with stainless steel appliances and easy-to-maintain flooring throughout. With both units being less than 3 years old, you can expect minimal maintenance for years to come. The upper unit is currently rented, providing immediate income potential, while the lower unit is vacant and move-in ready, for new owners who want to live in a modern home while benefiting from rental income. Situated in a neighborhood with schools, shopping, and public transportation, this property offers contemporary finishes and an open floor plan that will appeal to all. Don't miss out on this unique opportunity to own a versatile property that offers both excellent investment potential and a comfortable living space.

Key facts

• Pristine duplex
• Move in ready
• 3,049 sq ft lot

Tags

• PRISTINE DUPLEX
• STAINLESS STEEL APPLIANCES
• EASY TO MAINTAIN FLOORING
• IMMEDIATE INCOME POTENTIAL
• MOVE IN READY
• CONTEMPORARY FINISHES

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.5-bath units multifamily listed at $359k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $599 ($7k/yr) — positive. Per door: $300/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $359k).
• Recommended offer: $316k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 rising (+2.5%/yr); 581 active listings in the ZIP; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,983/mo this rent would consume 104% 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 $11k 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 330 days — a 12% lower offer ($316k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $27k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $315,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 330 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.11% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.95%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (median comp): $376,703
• List price: $359,000
• Delta: -4.70%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1223 Tupelo St	0.09mi	6/4.0	3,300 (-5%)	20mo	$355,000	$108	71
5428-30 Dauphine St	0.49mi	8/4.0	3,552 (+2%)	10mo	$185,000	$52	65
5460-54 N Rampart St	0.36mi	—/—	3,058 (-12%)	4mo	$385,000	$126	60
1005 Gordon St	0.17mi	8/4.0	3,089 (-11%)	18mo	$352,500	$114	59
5443-45 Douglas St	0.60mi	6/4.0	3,540 (+2%)	14mo	$210,000	$59	57
5624 26 Saint Claude St	0.21mi	7/5.0	2,971 (-14%)	22mo	$324,000	$109	48
800-806 Andry St	0.52mi	—/—	3,198 (-8%)	20mo	$130,000	$41	46
5721-23 Royal St	0.40mi	8/3.0	3,016 (-13%)	20mo	$150,000	$50	44
6608-14 Dauphine St	0.56mi	8/4.0	3,957 (+14%)	15mo	$505,000	$128	38

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: -5.9%
• Equity multiple: 0.78×
• Total profit: $-21,946
• Equity at exit: $53,528

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $22,177
• Equity at exit: $31,040

Cash invested: $100,520 (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: 15.0×

Monthly cashflow live

• Estimated rent: $3,983 high
• Mortgage (P&I): −$1,883
• Tax est. 1.5%: −$449 /mo · $5,385/yr
• Insurance: −$150
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$836
• Net cashflow: $599

Break-even live

Break-even rent $3,225

Max offer price $359,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	2.5	$3,982
Total (2 units)			$3,983

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $359,000 Active 330 DOM
2. 2026-06-17
   days on market $359,000 Active 329 DOM
3. 2026-06-16
   days on market $359,000 Active 328 DOM
4. 2026-06-15
   days on market $359,000 Active 327 DOM
5. 2026-06-13
   days on market $359,000 Active 325 DOM
6. 2026-06-10
   days on market $359,000 Active 322 DOM
7. 2026-06-09
   days on market $359,000 Active 321 DOM
8. 2026-06-08
   days on market $359,000 Active 320 DOM
9. 2026-06-07
   days on market $359,000 Active 319 DOM
10. 2026-06-05
    days on market $359,000 Active 316 DOM
11. 2026-06-03
    days on market $359,000 Active 315 DOM
12. 2026-06-02
    days on market $359,000 Active 314 DOM
13. 2026-06-01
    days on market $359,000 Active 313 DOM
14. 2026-05-31
    days on market $359,000 Active 312 DOM
15. 2026-01-05
    price $359,000 878-char remark

    Show marketing remark (878 chars)

    Discover this pristine duplex, for both investors and owner-occupants seeking a fantastic opportunity. Each unit features 4 spacious bedrooms and 2.5 modern bathrooms, complete with stainless steel appliances and easy-to-maintain flooring throughout. With both units being less than 3 years old, you can expect minimal maintenance for years to come. The upper unit is currently rented, providing immediate income potential, while the lower unit is vacant and move-in ready, for new owners who want to live in a modern home while benefiting from rental income. Situated in a neighborhood with schools, shopping, and public transportation, this property offers contemporary finishes and an open floor plan that will appeal to all. Don't miss out on this unique opportunity to own a versatile property that offers both excellent investment potential and a comfortable living space.

16. 2025-07-23
    listed $385,900 Active 878-char remark

    Show marketing remark (878 chars)

    Discover this pristine duplex, for both investors and owner-occupants seeking a fantastic opportunity. Each unit features 4 spacious bedrooms and 2.5 modern bathrooms, complete with stainless steel appliances and easy-to-maintain flooring throughout. With both units being less than 3 years old, you can expect minimal maintenance for years to come. The upper unit is currently rented, providing immediate income potential, while the lower unit is vacant and move-in ready, for new owners who want to live in a modern home while benefiting from rental income. Situated in a neighborhood with schools, shopping, and public transportation, this property offers contemporary finishes and an open floor plan that will appeal to all. Don't miss out on this unique opportunity to own a versatile property that offers both excellent investment potential and a comfortable living space.

17. 2025-06-12
    price $388,900
18. 2024-12-23
    price $398,900
19. 2024-12-06
    historical $2,200
20. 2024-10-17
    listed $2,200
21. 2024-07-17
    listed $399,000 Active

ⓘ 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 (shaded) · 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: $47,796
• − Mortgage interest: −$20,110
• − Property taxes: −$5,385
• − Insurance: −$2,592
• − Repairs & maintenance: −$3,824
• − Management: −$3,824
• − Depreciation: −$10,444
• Taxable income: $1,618
• Est. tax owed @ 24.0%: −$388
• After-tax cash flow: $6,801/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 · 11 photos

Excellent 95/100 None rehab

This two-story, move-in-ready duplex is in excellent condition with modern finishes and minimal maintenance required. Immediate rental income potential and potential for increased resale value with minor improvements.

Value-add opportunities

• Both Landscaping improvements — Enhanced curb appeal can attract more buyers and renters.
• Both Painting exterior — Fresh paint can improve the home's appearance and value.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhanced curb appeal can attract more buyers and renters. ↑
• Both Painting exterior — Fresh paint can improve the home's appearance and value. ↑

ⓘ 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): 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

-10.0% since first listed

7 events — show timeline

• 2026-01-05 Price Changed $359,000 AcadianaMLS
• 2025-07-23 Listed $385,900 AcadianaMLS
• 2025-06-12 Price Changed $388,900 AcadianaMLS
• 2024-12-23 Price Changed $398,900 AcadianaMLS
• 2024-12-06 Rental Removed $2,200 GSREIN
• 2024-10-17 Listed for Rent $2,200 GSREIN
• 2024-07-17 Listed $399,000 AcadianaMLS