1870 72 N Roman St · New Orleans, LA 70116

$250,000

6 bd · 2.0 ba · 1,948 sqft · MultiFamily public records · 262 Days on market

Built 2008 $128/sqft · 46% above area Est $171k · 46% 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 +27.0/30.0
• DSCR +9.4/10.0
• 1% rule +6.7/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• 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

Looking for income producing properties then look no further! Please submit your showing request at lease 48 hours in advance. Tenant occupied and please do not disturb the tenants. Can only be shown by a licensed real-estate agent.

Key facts

• Built 2008
• Listed 261 days

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $637 ($8k/yr) — positive.
• 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 9.7% 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; 351 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,921/mo this rent would consume 67% 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 262 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 24y 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.
• Current owner paid $30k; list at $250k implies a 733% gain — meaningful room to come down on a strong offer.

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 $220,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 262 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.17% ✓
• Cap rate: 9.67%
• Cash-on-cash: 12.06%
• DSCR: 1.54
• GRM: 7.1

CMA / ARV

• ARV (median comp): $170,667
• List price: $250,000
• Delta: 46.48%
• 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
2125-27 27 St. Anthony St	0.12mi	6/2.0	1,884 (-3%)	15mo	$120,000	$64	77
2034 Annette St	0.24mi	6/4.0	1,961 (+1%)	15mo	$289,000	$147	67
1734 Spain St	0.45mi	5/3.0 (-1)	1,985 (+2%)	1mo	$100,000	$50	66
1966 N Prieur St	0.07mi	6/4.0	2,166 (+11%)	6mo	$308,000	$142	65
3033 35 Pauger St	0.41mi	6/4.0	2,057 (+6%)	1mo	$295,000	$143	63
1345 Saint Anthony St	0.33mi	5/2.5 (-1)	1,776 (-9%)	7mo	$60,000	$34	58
1827 29 Frenchmen St	0.18mi	5/3.0 (-1)	2,160 (+11%)	9mo	$360,000	$167	57
2329-2331 Saint Anthony St	0.42mi	6/2.0	2,156 (+11%)	8mo	$130,000	$60	56
2000 02 Painters St	0.73mi	6/2.5	1,794 (-8%)	5mo	$115,000	$64	46
1616 -1618 Painters St	0.72mi	6/4.0	1,976 (+1%)	16mo	$227,000	$115	43
2304 06 Laharpe St	0.69mi	6/3.5	2,132 (+9%)	6mo	$275,000	$129	41
1946 Hope St	0.70mi	6/4.0	2,132 (+9%)	4mo	$289,000	$136	41

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: -3.1%
• Equity multiple: 0.89×
• Total profit: $-8,002
• Equity at exit: $37,276

10-year hold

• IRR: 3.2%
• Equity multiple: 1.20×
• Total profit: $14,034
• 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: 351
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $2,921 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$189 /mo · $2,269/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $637

Break-even live

Break-even rent $2,115

Max offer price $250,000

Occupancy floor 73%

Sensitivity live

Price	-10% $778	-5% $708	+0% $637	+5% $566	+10% $495
Rent	-10% $406	-5% $521	+0% $637	+5% $752	+10% $868
Rate	-1.0pp $763	-0.5pp $700	base $637	+0.5pp $572	+1.0pp $506

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,922
Total (2 units)			$2,921

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	25d	1	0.57mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$8,133	$5.14	4d	2	0.62mi

Listing history 35 events

1. 2026-06-21
   days on market $250,000 Active 262 DOM
2. 2026-06-18
   days on market $250,000 Active 259 DOM
3. 2026-06-17
   days on market $250,000 Active 258 DOM
4. 2026-06-16
   days on market $250,000 Active 257 DOM
5. 2026-06-15
   days on market $250,000 Active 256 DOM
6. 2026-06-13
   days on market $250,000 Active 254 DOM
7. 2026-06-10
   days on market $250,000 Active 251 DOM
8. 2026-06-09
   days on market $250,000 Active 250 DOM
9. 2026-06-08
   days on market $250,000 Active 249 DOM
10. 2026-06-07
    days on market $250,000 Active 248 DOM
11. 2026-06-05
    days on market $250,000 Active 245 DOM
12. 2026-06-03
    days on market $250,000 Active 244 DOM
13. 2026-06-02
    days on market $250,000 Active 243 DOM
14. 2026-06-01
    days on market $250,000 Active 242 DOM
15. 2026-05-31
    days on market $250,000 Active 241 DOM
16. 2025-10-28
    price $250,000 232-char remark

    Show marketing remark (232 chars)

    Looking for income producing properties then look no further! Please submit your showing request at lease 48 hours in advance. Tenant occupied and please do not disturb the tenants. Can only be shown by a licensed real-estate agent.

17. 2025-10-28
    price $250,000 232-char remark

    Show marketing remark (232 chars)

    Looking for income producing properties then look no further! Please submit your showing request at lease 48 hours in advance. Tenant occupied and please do not disturb the tenants. Can only be shown by a licensed real-estate agent.

18. 2025-10-02
    listed $260,000 Active 232-char remark

    Show marketing remark (232 chars)

    Looking for income producing properties then look no further! Please submit your showing request at lease 48 hours in advance. Tenant occupied and please do not disturb the tenants. Can only be shown by a licensed real-estate agent.

19. 2025-10-02
    listed $260,000 Active 232-char remark

    Show marketing remark (232 chars)

    Looking for income producing properties then look no further! Please submit your showing request at lease 48 hours in advance. Tenant occupied and please do not disturb the tenants. Can only be shown by a licensed real-estate agent.

20. 2024-05-27
    listed $390,000 Active
21. 2010-12-30
    soldstatus $30,000
22. 2010-08-12
    listed $35,000
23. 2010-08-12
    listed $35,000
24. 2009-06-10
    listed $129,900
25. 2009-06-10
    listed $129,900
26. 2008-05-05
    soldstatus $185,000
27. 2008-04-29
    soldstatus $185,000
28. 2007-09-20
    listed $185,000
29. 2007-09-20
    listed $185,000
30. 2006-05-04
    soldstatus $29,000
31. 2006-04-17
    listed $26,000
32. 2006-04-17
    listed $26,000
33. 2002-08-01
    soldstatus $75,000
34. 2002-04-17
    listed $69,000
35. 2002-04-17
    listed $69,000

ⓘ 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: $2,269 · $189/mo
• Projected year-2 tax: $2,269 · $189/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: $35,052
• − Mortgage interest: −$14,004
• − Property taxes: −$2,269
• − Insurance: −$2,048
• − Repairs & maintenance: −$2,804
• − Management: −$2,804
• − Depreciation: −$7,273
• Taxable income: $3,850
• Est. tax owed @ 24.0%: −$924
• After-tax cash flow: $6,718/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

+262.3% since first listed

20 events — show timeline

• 2025-10-28 Price Changed $250,000 AcadianaMLS
• 2025-10-28 Price Changed $250,000 GSREIN
• 2025-10-02 Listed $260,000 GSREIN
• 2025-10-02 Listed $260,000 AcadianaMLS
• 2024-05-27 Listed $390,000 AcadianaMLS
• 2010-12-30 Sold (MLS) $30,000 GSREIN
• 2010-08-12 Listed $35,000 AcadianaMLS
• 2010-08-12 Listed $35,000 GSREIN
• 2009-06-10 Listed $129,900 GSREIN
• 2009-06-10 Listed $129,900 AcadianaMLS
• 2008-05-05 Sold (Public Records) $185,000 Public Records
• 2008-04-29 Sold (MLS) $185,000 GSREIN
• 2007-09-20 Listed $185,000 AcadianaMLS
• 2007-09-20 Listed $185,000 GSREIN
• 2006-05-04 Sold (MLS) $29,000 GSREIN
• 2006-04-17 Listed $26,000 AcadianaMLS
• 2006-04-17 Listed $26,000 GSREIN
• 2002-08-01 Sold (MLS) $75,000 GSREIN
• 2002-04-17 Listed $69,000 GSREIN
• 2002-04-17 Listed $69,000 AcadianaMLS

Property tax history

+7.3%/yr

Latest (2026): $2,269 · +1.1% YoY. Source: county tax records.