822 Delery St · New Orleans, LA 70117

$299,900

8 bd · 4.0 ba · 3,348 sqft · MultiFamily public records · 192 Days on market

Built 1960 6,865 sqft lot $90/sqft · 19% below area Est $318k · 6% under

---

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
• ARV discount +10.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 4 units. confirmed

Listing remarks MLS

Investor Alert! All 4 Units are Occupied!! This building is located directly across from Jackson Barracks and just steps from the Mississippi River in the sought-after Holy Cross neighborhood. This FOURPLEX presents a rare opportunity for both owner-occupants and investors. Three units offer 2 generously sized bedrooms and 1 full bath and the 4th unit offers 3 bedrooms and 1 full bath. Additional highlights include convenient off-street parking, gated central courtyard and a flexible layout ideal for living in one unit while generating rental income from the 3 others--or adding a solid asset to your investment portfolio. Price reflects condition, offering the perfect chance to add value. Measurements are approximate and should be verified by the buyer and/or buyer's agent. Property is being sold As Is.

Key facts

• 6,865 sq ft lot
• Built 1960
• Listed 191 days

What this means for you Summary

Snapshot

• This is a 3×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $610/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $300k).
• Recommended offer: $264k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.3% vs local median 4.3% 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); 587 active listings in the ZIP; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $5,621/mo this rent would consume 147% 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 $9k 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 $84k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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 $46k; list at $300k implies a 552% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $263,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 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. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.87% ✓
• Cap rate: 16.32%
• Cash-on-cash: 35.79%
• DSCR: 2.59
• GRM: 4.4

CMA / ARV

• ARV (median comp): $317,974
• List price: $299,900
• Delta: -5.68%
• 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
1005 Gordon St	0.25mi	8/4.0	3,089 (-8%)	18mo	$352,500	$114	60
5428-30 Dauphine St	0.57mi	8/4.0	3,552 (+6%)	10mo	$185,000	$52	55
5721-23 Royal St	0.34mi	8/3.0	3,016 (-10%)	20mo	$150,000	$50	47
5624 26 Saint Claude St	0.44mi	7/5.0 (-1)	2,971 (-11%)	22mo	$324,000	$109	33

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: 29.8%
• Equity multiple: 2.24×
• Total profit: $103,873
• Equity at exit: $44,716

10-year hold

• IRR: 36.8%
• Equity multiple: 4.32×
• Total profit: $278,934
• Equity at exit: $25,930

Cash invested: $83,972 (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: 587
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $5,621 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$238 /mo · $2,858/yr
• Insurance: −$125
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,180
• Net cashflow: $2,438

Break-even live

Break-even rent $2,535

Max offer price $299,900

Occupancy floor 52%

Sensitivity live

Price	-10% $2,608	-5% $2,523	+0% $2,438	+5% $2,353	+10% $2,269
Rent	-10% $1,994	-5% $2,216	+0% $2,438	+5% $2,660	+10% $2,882
Rate	-1.0pp $2,589	-0.5pp $2,515	base $2,438	+0.5pp $2,361	+1.0pp $2,282

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,149
1× unit	3	1	$1,471
Total (4 units)			$5,621

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $299,900 Active 192 DOM
2. 2026-06-18
   days on market $299,900 Active 189 DOM
3. 2026-06-17
   days on market $299,900 Active 188 DOM
4. 2026-06-16
   days on market $299,900 Active 187 DOM
5. 2026-06-15
   days on market $299,900 Active 186 DOM
6. 2026-06-13
   days on market $299,900 Active 184 DOM
7. 2026-06-10
   days on market $299,900 Active 181 DOM
8. 2026-06-09
   days on market $299,900 Active 180 DOM
9. 2026-06-08
   days on market $299,900 Active 179 DOM
10. 2026-06-07
    days on market $299,900 Active 178 DOM
11. 2026-06-05
    days on market $299,900 Active 175 DOM
12. 2026-06-03
    days on market $299,900 Active 174 DOM
13. 2026-06-02
    days on market $299,900 Active 173 DOM
14. 2026-06-01
    days on market $299,900 Active 172 DOM
15. 2026-05-31
    days on market $299,900 Active 171 DOM
16. 2026-05-03
    price $299,900 813-char remark

    Show marketing remark (824 chars)

    Investor Alert! All 4 Units are Occupied!! This building is located directly across from Jackson Barracks and just steps from the Mississippi River in the sought-after Holy Cross neighborhood. This FOURPLEX presents a rare opportunity for both owner-occupants and investors. Three units offer 2 generously sized bedrooms and 1 full bath and the 4th unit offers 3 bedrooms and 1 full bath. Additional highlights include convenient off-street parking, gated central courtyard and a flexible layout ideal for living in one unit while generating rental income from the 3 others—or adding a solid asset to your investment portfolio. Price reflects condition, offering the perfect chance to add value. Measurements are approximate and should be verified by the buyer and/or buyer’s agent. Property is being sold As Is.

17. 2026-05-03
    price $299,900 824-char remark

    Show marketing remark (824 chars)

    Investor Alert! All 4 Units are Occupied!! This building is located directly across from Jackson Barracks and just steps from the Mississippi River in the sought-after Holy Cross neighborhood. This FOURPLEX presents a rare opportunity for both owner-occupants and investors. Three units offer 2 generously sized bedrooms and 1 full bath and the 4th unit offers 3 bedrooms and 1 full bath. Additional highlights include convenient off-street parking, gated central courtyard and a flexible layout ideal for living in one unit while generating rental income from the 3 others—or adding a solid asset to your investment portfolio. Price reflects condition, offering the perfect chance to add value. Measurements are approximate and should be verified by the buyer and/or buyer’s agent. Property is being sold As Is.

18. 2025-12-11
    listed $309,000 Active 813-char remark

    Show marketing remark (824 chars)

    Investor Alert! All 4 Units are Occupied!! This building is located directly across from Jackson Barracks and just steps from the Mississippi River in the sought-after Holy Cross neighborhood. This FOURPLEX presents a rare opportunity for both owner-occupants and investors. Three units offer 2 generously sized bedrooms and 1 full bath and the 4th unit offers 3 bedrooms and 1 full bath. Additional highlights include convenient off-street parking, gated central courtyard and a flexible layout ideal for living in one unit while generating rental income from the 3 others—or adding a solid asset to your investment portfolio. Price reflects condition, offering the perfect chance to add value. Measurements are approximate and should be verified by the buyer and/or buyer’s agent. Property is being sold As Is.

19. 2025-12-11
    listed $309,000 Active 824-char remark

    Show marketing remark (824 chars)

    Investor Alert! All 4 Units are Occupied!! This building is located directly across from Jackson Barracks and just steps from the Mississippi River in the sought-after Holy Cross neighborhood. This FOURPLEX presents a rare opportunity for both owner-occupants and investors. Three units offer 2 generously sized bedrooms and 1 full bath and the 4th unit offers 3 bedrooms and 1 full bath. Additional highlights include convenient off-street parking, gated central courtyard and a flexible layout ideal for living in one unit while generating rental income from the 3 others—or adding a solid asset to your investment portfolio. Price reflects condition, offering the perfect chance to add value. Measurements are approximate and should be verified by the buyer and/or buyer’s agent. Property is being sold As Is.

20. 2011-05-18
    listed $150,000
21. 2011-05-18
    listed $150,000
22. 1995-08-17
    soldstatus $46,000

ⓘ 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: $2,858 · $238/mo
• Projected year-2 tax: $2,858 · $238/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 · 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: $67,452
• − Mortgage interest: −$16,799
• − Property taxes: −$2,858
• − Insurance: −$2,297
• − Repairs & maintenance: −$5,396
• − Management: −$5,396
• − Depreciation: −$8,724
• Taxable income: $25,981
• Est. tax owed @ 24.0%: −$6,236
• After-tax cash flow: $23,024/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

+552.0% since first listed

7 events — show timeline

• 2026-05-03 Price Changed $299,900 AcadianaMLS
• 2026-05-03 Price Changed $299,900 GSREIN
• 2025-12-11 Listed $309,000 GSREIN
• 2025-12-11 Listed $309,000 AcadianaMLS
• 2011-05-18 Listed $150,000 GSREIN
• 2011-05-18 Listed $150,000 AcadianaMLS
• 1995-08-17 Sold (Public Records) $46,000 Public Records

Property tax history

+3.3%/yr

Latest (2026): $2,858 · +1.1% YoY. Source: county tax records.