1533 Arts St · New Orleans, LA 70117

$133,900

4 bd · 2.0 ba · 1,872 sqft · MultiFamily public records · 8 Days on market

Built 1920 3,841 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Opportunity knocks in this New Orleans-style home! Offering 3 bedrooms, 2 bathrooms, and 1806 square feet, this property features an open-concept living, dining, and kitchen area. It was previously a double, now converted into a single-family home. With classic architecture, this property is a prime candidate to restore and personalize a true New Orleans gem. This is a Fannie Mae HomePath property.

Key facts

• Classic architecture
• 3,841 sq ft lot
• Built 1920

Tags

• NEW ORLEANS-STYLE HOME
• CLASSIC ARCHITECTURE

Property features AI

Finance

• Other: No additional financial or community amenities provided
• Financial info: Financial details not provided
• HOA & community: HOA and community details not provided

Exterior

• Parking: Parking details not provided
• Security: Security features not provided
• Utilities: Public water; Public sewer
• Home design: Single-story property; Entry level details not provided; Facing direction not provided
• Construction: Raised foundation; Shingle roof; Built year not provided; Construction materials not provided
• Exterior features: City lot; Rectangular lot; Lot dimensions approximately 32 x 120 feet

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Information on bedroom count not provided
• Flooring: Flooring details not provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating and cooling details not provided
• Interior features: Total of 6 rooms; Property listed in poor condition
• Laundry & utility: Laundry information not provided

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $134k.

Deal economics

• At list price, monthly cash flow is $778 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Cap rate 13.9% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,439/mo this rent would consume 64% 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 $926 of loan paydown is wiped out by about $4k 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 $37k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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: property tax is 2.9% of price; flood insurance adds $66/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• 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 $133,900

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.82% ✓
• Cap rate: 13.86%
• Cash-on-cash: 27.02%
• DSCR: 2.20
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $297,648
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1805 07 St Roch Ave	0.20mi	4/2.0	1,914 (+2%)	1mo	$290,000	$152	86
3129 31 N Claiborne Ave	0.49mi	4/2.0	1,806 (-4%)	3mo	$267,150	$148	69
1727 29 Marigny St	0.36mi	4/2.0	1,716 (-8%)	1mo	$285,000	$166	69
1734 Spain St	0.27mi	5/3.0 (+1)	1,985 (+6%)	1mo	$100,000	$50	67
1923-25 Pauger St	0.67mi	4/2.0	1,879 (+0%)	4mo	$70,000	$37	65
3313 15 St Claude Ave	0.70mi	4/3.0	1,850 (-1%)	1mo	$320,000	$173	61
827-829 St Ferdinand St	0.54mi	4/2.0	2,019 (+8%)	2mo	$450,000	$223	60
832 36 Mandeville St	0.56mi	3/3.0 (-1)	1,851 (-1%)	4mo	$294,000	$159	60
2211 13 Mandeville St	0.53mi	4/2.0	1,644 (-12%)	2mo	$195,000	$119	53
523-25 Spain St	0.73mi	3/3.5 (-1)	1,891 (+1%)	2mo	$280,000	$148	52
2105 07 Arts St	0.38mi	4/3.0	1,598 (-15%)	3mo	$265,000	$166	51
939 Piety St	0.74mi	4/2.5	2,022 (+8%)	1mo	$409,000	$202	49

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: 17.8%
• Equity multiple: 1.71×
• Total profit: $26,762
• Equity at exit: $19,965

10-year hold

• IRR: 25.9%
• Equity multiple: 3.21×
• Total profit: $82,734
• Equity at exit: $11,577

Cash invested: $37,492 (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: 4.6×

Monthly cashflow live

• Estimated rent: $2,439 high
• Mortgage (P&I): −$702
• Tax from tax record: −$324 /mo · $3,892/yr
• Insurance: −$56
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $778

Break-even live

Break-even rent $1,454

Max offer price $133,900

Occupancy floor 63%

Sensitivity live

Price	-10% $853	-5% $816	+0% $778	+5% $740	+10% $702
Rent	-10% $585	-5% $681	+0% $778	+5% $874	+10% $970
Rate	-1.0pp $845	-0.5pp $812	base $778	+0.5pp $743	+1.0pp $708

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: $33,475
• Closing costs: $4,017
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	24d	1	0.44mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	44d	1	0.46mi
2228 Arts St New Orleans, LA	3.0	2.0	2270	$1,675	$0.74	4d	1	0.46mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	24d	1	0.47mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	24d	1	0.49mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	44d	1	0.49mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	4d	2	0.52mi
2320 N Rampart St New Orleans, LA	3.0	3.0	2317	$3,700	$1.60	44d	1	0.54mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	4d	1	0.55mi
2322 Burgundy St Unit C New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	24d	1	0.59mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	24d	1	0.60mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	4d	1	0.61mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	16d	1	0.61mi
5624-5626 Saint Claude ST New Orleans, LA	4.0	3.0	1521	$2,300	$1.51	24d	1	0.65mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	24d	1	0.67mi
632 Mandeville St Unit 2B New Orleans, LA	4.0	4.5	1337	$4,500	$3.37	17d	1	0.70mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	24d	1	0.71mi
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	24d	1	0.72mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	22d	1	0.75mi
2028 Desire St New Orleans, LA	3.0	1.0	1300	$1,300	$1.00	24d	1	0.76mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.77mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.77mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	24d	1	0.81mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	24d	1	0.82mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	0.90mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	0.90mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	4d	1	0.90mi
1418 Royal St Unit 1418 New Orleans, LA	4.0	2.0	1300	$2,450	$1.88	24d	1	0.91mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	3d	1	0.91mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	0.91mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	24d	1	0.95mi
1217 Kerlerec St Unit B New Orleans, LA	3.0	1.0	1300	$2,100	$1.62	4d	1	0.95mi
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	0.96mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	0.96mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	44d	1	1.04mi
1472 N Claiborne Ave New Orleans, LA	3.0	1.0	1312	$1,900	$1.45	16d	1	1.05mi
1433 Esplanade Ave New Orleans, LA	3.0	2.0	2411	$5,000	$2.07	2d	1	1.11mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	24d	1	1.13mi
734 Ursulines Ave New Orleans, LA	3.0	2.0	1340	$2,800	$2.09	44d	1	1.14mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	24d	1	1.16mi

Listing history 6 events

1. 2026-06-18
   days on market $133,900 Active 8 DOM
2. 2026-06-17
   days on market $133,900 Active 7 DOM
3. 2026-06-16
   days on market $133,900 Active 6 DOM
4. 2026-06-15
   days on market $133,900 Active 5 DOM
5. 2026-06-13
   remarks 401-char remark
6. 2026-06-13
   listed $133,900 Active 3 DOM

ⓘ 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: $3,892 · $324/mo
• Projected year-2 tax: $3,892 · $324/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: $29,263
• − Mortgage interest: −$7,500
• − Property taxes: −$3,892
• − Insurance: −$1,467
• − Repairs & maintenance: −$2,341
• − Management: −$2,341
• − Depreciation: −$3,895
• Taxable income: $7,826
• Est. tax owed @ 24.0%: −$1,878
• After-tax cash flow: $7,454/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

+38.0% since first listed

5 events — show timeline

• 2026-06-10 Listed $133,900 AcadianaMLS
• 2026-06-10 Listed $133,900 GSREIN
• 2021-04-01 Sold (Public Records) $324,000 Public Records
• 2019-04-25 Sold (Public Records) $77,000 Public Records
• 2018-12-13 Listed $97,000 AcadianaMLS

Property tax history

+23.8%/yr

Latest (2026): $3,892 · +1.1% YoY. Source: county tax records.