3619 21 Burgundy St · New Orleans, LA 70117

$699,999

9 bd · 4.5 ba · 3,788 sqft · MultiFamily · 37 Days on market

Built 1920 Good condition $185/sqft · 9% below area Est $771k · 9% under

---

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 +23.5/30.0
• ARV discount +11.6/15.0
• DSCR +7.6/10.0
• 1% rule +6.1/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• 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 (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Fabulous home in the heart of the Bywater with a touch of decadence. Perfect home for entertaining! Features large open rooms with built-in bar, wood floors, high ceilings & fireplace mantels. The extra deep lot of 164’ is the perfect oasis for gardening and features some mature fruit trees as well as a lily pond. This is a must see! Closing to take place after July 14, 2018.

Key facts

• Heart of pine floors
• Two bay garage
• Walkout access

Tags

• TWO BAY GARAGE
• NEARLY 1000 SQUARE FOOT DECK
• HEART OF PINE FLOORS
• INTRICATELY DETAILED MOULDING
• STATELY FIREPLACE MANTLES
• WALKOUT ACCESS

Property features AI

Finance

• Financial info: 3 total units; Tenants pay electricity, gas, and water

Exterior

• Parking: Garage; Off-street parking; Two parking spaces
• Utilities: Public water; Public sewer
• Home design: 2-story building; Raised foundation
• Construction: Wood siding; Shingle roof
• Exterior features: Fence; Front porch; Patio; Corner lot; City lot; Rectangular lot; Lot dimensions approximately 98 x 40

Interior

• Bedrooms: Unit 2: 2 bedrooms
• Bathrooms: 3 full bathrooms; 1 half bathroom; Unit 2: 1 full bathroom
• Heating & cooling: Central heating; Multiple heating units; Central air; Window AC units
• Interior features: Total of 14 rooms; Average condition
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3 × 3.0-bed/1.5-bath units multifamily listed at $700k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $436/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $700k).
• Recommended offer: $679k (3.0% 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 $7,780/mo this rent would consume 204% 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 $5k of loan paydown is wiped out by about $21k 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 37 days — a 3% lower offer ($679k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $503k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $678,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.11% ✓
• Cap rate: 8.54%
• Cash-on-cash: 8.01%
• DSCR: 1.36
• GRM: 7.5

CMA / ARV

• ARV (median comp): $770,913
• List price: $699,999
• Delta: -9.20%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
904-906 Dumaine St	0.57mi	10/5.5 (+1)	3,648 (-4%)	15mo	$800,000	$219	46
922-924 Chartres St	0.68mi	8/4.0 (-1)	3,673 (-3%)	23mo	$1,165,000	$317	37

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: -4.7%
• Equity multiple: 0.83×
• Total profit: $-33,935
• Equity at exit: $104,372

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $62,120
• Equity at exit: $60,523

Cash invested: $196,000 (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 70117

• Rents YoY: 2.5%
• Active inventory: 581
• Price-to-rent: 22.5×

Monthly cashflow live

• Estimated rent: $7,780 high
• Mortgage (P&I): −$3,671
• Tax est. 1.5%: −$875 /mo · $10,500/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,634
• Net cashflow: $1,309

Break-even live

Break-even rent $6,123

Max offer price $699,999

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3.0	1.5	$7,779
Total (3 units)			$7,780

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: $175,000
• Closing costs: $21,000
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $699,999 Active 37 DOM
2. 2026-06-17
   days on market $699,999 Active 36 DOM
3. 2026-06-16
   days on market $699,999 Active 35 DOM
4. 2026-06-15
   days on market $699,999 Active 34 DOM
5. 2026-06-13
   days on market $699,999 Active 32 DOM
6. 2026-06-10
   days on market $699,999 Active 29 DOM
7. 2026-06-09
   days on market $699,999 Active 28 DOM
8. 2026-06-08
   days on market $699,999 Active 27 DOM
9. 2026-06-07
   days on market $699,999 Active 26 DOM
10. 2026-06-05
    days on market $699,999 Active 23 DOM
11. 2026-06-03
    days on market $699,999 Active 22 DOM
12. 2026-06-02
    days on market $699,999 Active 21 DOM
13. 2026-06-01
    days on market $699,999 Active 20 DOM
14. 2026-05-31
    days on market $699,999 Active 19 DOM
15. 2026-05-12
    listed $699,999 Active 1010-char remark
16. 2022-07-07
    price $637,000
17. 2018-07-17
    soldstatus $503,000 Sold

    Show marketing remark (392 chars)

    Fabulous home in the heart of the Bywater with a touch of decadence. Perfect home for entertaining! Features large open rooms with built-in bar, wood floors, high ceilings & fireplace mantels. The extra deep lot of 164’ is the perfect oasis for gardening and features some mature fruit trees as well as a lily pond. This is a must see! Closing to take place after July 14, 2018.

18. 2018-05-31
    historical Pending Continue to Show

    Show marketing remark (392 chars)

    Fabulous home in the heart of the Bywater with a touch of decadence. Perfect home for entertaining! Features large open rooms with built-in bar, wood floors, high ceilings & fireplace mantels. The extra deep lot of 164’ is the perfect oasis for gardening and features some mature fruit trees as well as a lily pond. This is a must see! Closing to take place after July 14, 2018.

19. 2018-05-23
    listed $499,000 Active

    Show marketing remark (392 chars)

    Fabulous home in the heart of the Bywater with a touch of decadence. Perfect home for entertaining! Features large open rooms with built-in bar, wood floors, high ceilings & fireplace mantels. The extra deep lot of 164’ is the perfect oasis for gardening and features some mature fruit trees as well as a lily pond. This is a must see! Closing to take place after July 14, 2018.

20. 2016-07-14
    soldstatus $425,000 Sold
21. 2016-06-30
    status Under Contract
22. 2016-06-27
    listed $399,000 Active
23. 2013-06-28
    soldstatus $80,000
24. 2013-05-01
    listed $99,000

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

Taxation est. · year 1

• Rental income: $93,360
• − Mortgage interest: −$39,211
• − Property taxes: −$10,500
• − Insurance: −$3,500
• − Repairs & maintenance: −$7,469
• − Management: −$7,469
• − Depreciation: −$20,364
• Taxable income: $4,848
• Est. tax owed @ 24.0%: −$1,164
• After-tax cash flow: $14,540/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 · 13 photos

Good 75/100 Cosmetic rehab

This triplex in the Bywater neighborhood is in good condition with cosmetic updates needed to enhance its curb appeal and rental value.

Repairs flagged

• Minor Kitchen flooring — The flooring appears worn and could benefit from a fresh coat of sealant or replacement.
• Minor Bathroom paint — The paint appears slightly faded and could be refreshed with a new coat.
• Minor Landscaping — The landscaping could be improved with some additional plants and decorative elements.

Value-add opportunities

• Resale Painting the exterior and interior — Fresh paint can significantly enhance the curb appeal and overall aesthetic of the property.
• Rental Landscaping improvements — A well-maintained and aesthetically pleasing landscape can attract more renters and increase rental value.
• Resale Flooring replacement — Replacing worn flooring can improve the overall condition and appearance of the home, making it more attractive to potential buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen flooring · The flooring appears worn and could benefit from a fresh coat of sealant or replacement.	Minor	$500–3,000
Bathroom paint · The paint appears slightly faded and could be refreshed with a new coat.	Minor	$500–3,000
Landscaping · The landscaping could be improved with some additional plants and decorative elements.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale Painting the exterior and interior — Fresh paint can significantly enhance the curb appeal and overall aesthetic of the property. ↑
• Rental Landscaping improvements — A well-maintained and aesthetically pleasing landscape can attract more renters and increase rental value. ↑
• Resale Flooring replacement — Replacing worn flooring can improve the overall condition and appearance of the home, making it more attractive to potential buyers. ↑

ⓘ 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

+607.1% since first listed

10 events — show timeline

• 2026-05-12 Listed $699,999 GSREIN
• 2022-07-07 Price Changed $637,000 GSREIN
• 2018-07-17 Sold (MLS) $503,000 GSREIN
• 2018-05-31 Contingent — GSREIN
• 2018-05-23 Listed $499,000 GSREIN
• 2016-07-14 Sold (MLS) $425,000 GSREIN
• 2016-06-30 Pending — GSREIN
• 2016-06-27 Listed $399,000 GSREIN
• 2013-06-28 Sold (MLS) $80,000 GSREIN
• 2013-05-01 Listed $99,000 GSREIN