2437-39 Jasmine St · New Orleans, LA 70122

$225,000

4 bd · 2.0 ba · 1,673 sqft · MultiFamily public records · 247 Days on market

Built 1969 $134/sqft · at area comps Est $227k · at est. ↓ 14% 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 +28.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.9/15.0
• 1% rule +7.5/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• 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

AVAILABLE IMMEDIATELY - This is a fantastic opportunity to own a double in a desirable Gentilly neighborhood! Both units are currently occupied, offering immediate rental income potential. Each unit features a functional layout with 2 bedrooms and 1 bathroom. New AC & heating unit on 2437 side and new water heater. Don't miss out on this opportunity to grow your portfolio. Call today for your private viewing.

Key facts

• Functional layout
• Parking
• Built 1969

Tags

• GENTILLY NEIGHBORHOOD
• RENTAL INCOME POTENTIAL
• FUNCTIONAL LAYOUT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $681 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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 soft (-0.6%/yr); 332 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,821/mo this rent would consume 68% of the median local household income ($49k/yr) (locally 2150% 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 $7k 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 247 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $38k (14%) 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: major 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 $198,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 247 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.25% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.25%
• DSCR: 1.63
• GRM: 6.6

CMA / ARV

• ARV (median comp): $227,271
• List price: $225,000
• Delta: -1.00%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2483 85 Verbena St	0.08mi	4/2.5	1,680 (+0%)	4mo	$237,000	$141	90
2633 35 Gladiolus St	0.29mi	4/2.0	1,632 (-2%)	7mo	$226,000	$138	76
3638 40 Elysian Fields Ave	0.49mi	4/2.0	1,671 (-0%)	18mo	$289,000	$173	62
2032 34 Elysian Fields Ave	0.60mi	4/2.0	1,668 (-0%)	15mo	$310,000	$186	59
2625 27 Sage St	0.55mi	4/2.0	1,668 (-0%)	19mo	$302,500	$181	58
2127-29 Mandolin St	0.47mi	4/2.0	1,474 (-12%)	3mo	$230,000	$156	55
3323 25 Clermont Dr	0.56mi	4/2.0	1,828 (+9%)	6mo	$250,000	$137	53
3962-64 Pauger St	0.71mi	4/2.0	1,740 (+4%)	9mo	$265,000	$152	52
2555 Elder St	0.47mi	4/2.0	1,785 (+7%)	18mo	$169,000	$95	52
2258 60 Pleasure St	0.54mi	5/2.0 (+1)	1,600 (-4%)	17mo	$174,000	$109	49
4424 Annette St	0.74mi	4/3.5	1,664 (-0%)	17mo	$230,000	$138	44
3401 03 Frenchmen St	0.66mi	4/2.0	1,856 (+11%)	10mo	$175,000	$94	43

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-1,287
• Equity at exit: $33,548

10-year hold

• IRR: 5.7%
• Equity multiple: 1.36×
• Total profit: $22,970
• Equity at exit: $19,454

Cash invested: $63,000 (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 70122

• Rents YoY: -0.6%
• Active inventory: 332
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $2,821 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$207 /mo · $2,484/yr
• Insurance: −$94
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$592
• Net cashflow: $681

Break-even live

Break-even rent $1,958

Max offer price $225,000

Occupancy floor 71%

Sensitivity live

Price	-10% $809	-5% $745	+0% $681	+5% $618	+10% $554
Rent	-10% $459	-5% $570	+0% $681	+5% $793	+10% $904
Rate	-1.0pp $795	-0.5pp $739	base $681	+0.5pp $623	+1.0pp $564

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,820
Total (2 units)			$2,821

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3907 Elysian Fields Ave New Orleans, LA	3.0	2.0	1652	$3,000	$1.82	24d	1	0.34mi
4618 Marigny St New Orleans, LA	3.0	1.0	1320	$1,900	$1.44	24d	1	0.38mi
3540 Clermont Dr New Orleans, LA	3.0	2.0	1248	$1,975	$1.58	24d	1	0.46mi
2647 Myrtle St Unit 2647 New Orleans, LA	4.0	2.0	1445	$2,550	$1.76	44d	1	0.50mi
2509 Sage St New Orleans, LA	3.0	1.0	1250	$1,650	$1.32	21d	1	0.53mi
2646 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	17d	1	0.57mi
2644 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	17d	1	0.57mi
4767 Lafaye St New Orleans, LA	3.0	2.0	1469	$2,000	$1.36	24d	1	0.61mi
3327 Elysian Fields Ave New Orleans, LA	3.0	1.0	1200	$1,300	$1.08	24d	1	0.64mi
4936 Baccich St New Orleans, LA	3.0	1.0	1053	$1,700	$1.61	24d	1	0.70mi
2739 Bay St Unit B New Orleans, LA	4.0	2.0	1400	$1,800	$1.29	20d	1	0.71mi
3515 Saint Anthony Ave New Orleans, LA	3.0	2.0	1366	$2,500	$1.83	24d	1	0.73mi
5172 Venus St Unit 5172 New Orleans, LA	3.0	2.5	1864	$2,450	$1.31	24d	1	0.75mi
4736 Saint Anthony Ave New Orleans, LA	3.0	1.0	1100	$1,800	$1.64	16d	1	0.76mi
2152 Abundance St Unit 2152 New Orleans, LA	3.0	2.0	1100	$1,599	$1.45	4d	1	0.92mi
5151 Saint Anthony Ave New Orleans, LA	3.0	2.0	1200	$1,795	$1.50	16d	1	0.94mi
4815 Warrington Dr New Orleans, LA	3.0	2.0	1652	$2,150	$1.30	16d	1	0.95mi
5519 Mandeville St New Orleans, LA	3.0	1.0	1125	$1,650	$1.47	4d	1	1.01mi
3607 Havana St New Orleans, LA	3.0	2.0	1693	$1,488	$0.88	17d	1	1.03mi
3624 Havana St New Orleans, LA	3.0	1.0	1388	$1,875	$1.35	16d	1	1.05mi
2338 40 Annette St New Orleans, LA	3.0	1.0	1150	$1,385	$1.20	20d	1	1.09mi
5322 Saint Anthony Ave New Orleans, LA	3.0	2.0	1192	$2,000	$1.68	16d	1	1.12mi
2458 Athis St New Orleans, LA	4.0	2.0	1530	$2,200	$1.44	24d	1	1.17mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	16d	1	1.18mi
5546 Pasteur Blvd Unit A New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	24d	1	1.18mi
2817 Annette St New Orleans, LA	3.0	1.0	1100	$1,350	$1.23	24d	1	1.19mi
5718 Vermillion Blvd Unit A New Orleans, LA	3.0	1.0	1300	$2,000	$1.54	24d	1	1.24mi
3316 Metropolitan St New Orleans, LA	3.0	2.0	1184	$1,700	$1.44	24d	1	1.24mi
3302 Metropolitan St New Orleans, LA	4.0	2.5	1700	$2,200	$1.29	17d	1	1.25mi
5723 Pasteur Blvd New Orleans, LA	3.0	2.0	1150	$1,700	$1.48	17d	1	1.26mi
5550 Press Dr New Orleans, LA	3.0	2.0	1640	$2,000	$1.22	16d	1	1.28mi
3021 Republic St New Orleans, LA	4.0	2.0	1125	$2,200	$1.96	24d	1	1.29mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	24d	1	1.31mi
1486 Mandolin St New Orleans, LA	3.0	2.0	1497	$1,900	$1.27	4d	1	1.35mi
5024 Paris Ave New Orleans, LA	4.0	3.0	2116	$3,000	$1.42	16d	1	1.36mi
6009 Pasteur Blvd New Orleans, LA	3.0	2.0	1250	$1,785	$1.43	24d	1	1.39mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	16d	1	1.40mi
6010 Pasteur Blvd New Orleans, LA	4.0	3.0	2010	$2,600	$1.29	17d	1	1.41mi
2910 Bruxelles St New Orleans, LA	3.0	2.0	1074	$1,600	$1.49	4d	1	1.42mi
5716 Warrington Dr New Orleans, LA	4.0	3.0	1560	$2,000	$1.28	17d	1	1.44mi

Listing history 22 events

1. 2026-06-18
   days on market $225,000 Active 247 DOM
2. 2026-06-17
   days on market $225,000 Active 246 DOM
3. 2026-06-16
   days on market $225,000 Active 245 DOM
4. 2026-06-15
   days on market $225,000 Active 244 DOM
5. 2026-06-13
   days on market $225,000 Active 242 DOM
6. 2026-06-10
   days on market $225,000 Active 239 DOM
7. 2026-06-09
   days on market $225,000 Active 238 DOM
8. 2026-06-08
   days on market $225,000 Active 237 DOM
9. 2026-06-07
   days on market $225,000 Active 236 DOM
10. 2026-06-05
    days on market $225,000 Active 233 DOM
11. 2026-06-03
    days on market $225,000 Active 232 DOM
12. 2026-06-02
    days on market $225,000 Active 231 DOM
13. 2026-06-01
    days on market $225,000 Active 230 DOM
14. 2026-05-31
    days on market $225,000 Active 229 DOM
15. 2026-03-10
    price $225,000 416-char remark

    Show marketing remark (418 chars)

    AVAILABLE IMMEDIATELY - This is a fantastic opportunity to own a double in a desirable Gentilly neighborhood! Both units are currently occupied, offering immediate rental income potential. Each unit features a functional layout with 2 bedrooms and 1 bathroom. New AC & heating unit on 2437 side and new water heater. Don't miss out on this opportunity to grow your portfolio. Call today for your private viewing.

16. 2026-03-10
    price $225,000 418-char remark

    Show marketing remark (418 chars)

    AVAILABLE IMMEDIATELY - This is a fantastic opportunity to own a double in a desirable Gentilly neighborhood! Both units are currently occupied, offering immediate rental income potential. Each unit features a functional layout with 2 bedrooms and 1 bathroom. New AC & heating unit on 2437 side and new water heater. Don't miss out on this opportunity to grow your portfolio. Call today for your private viewing.

17. 2026-01-12
    price $249,000 416-char remark

    Show marketing remark (418 chars)

    AVAILABLE IMMEDIATELY - This is a fantastic opportunity to own a double in a desirable Gentilly neighborhood! Both units are currently occupied, offering immediate rental income potential. Each unit features a functional layout with 2 bedrooms and 1 bathroom. New AC & heating unit on 2437 side and new water heater. Don't miss out on this opportunity to grow your portfolio. Call today for your private viewing.

18. 2026-01-12
    price $249,000 418-char remark

    Show marketing remark (418 chars)

    AVAILABLE IMMEDIATELY - This is a fantastic opportunity to own a double in a desirable Gentilly neighborhood! Both units are currently occupied, offering immediate rental income potential. Each unit features a functional layout with 2 bedrooms and 1 bathroom. New AC & heating unit on 2437 side and new water heater. Don't miss out on this opportunity to grow your portfolio. Call today for your private viewing.

19. 2025-11-19
    status Active 418-char remark

    Show marketing remark (418 chars)

    AVAILABLE IMMEDIATELY - This is a fantastic opportunity to own a double in a desirable Gentilly neighborhood! Both units are currently occupied, offering immediate rental income potential. Each unit features a functional layout with 2 bedrooms and 1 bathroom. New AC & heating unit on 2437 side and new water heater. Don't miss out on this opportunity to grow your portfolio. Call today for your private viewing.

20. 2025-10-22
    status Pending 418-char remark

    Show marketing remark (418 chars)

    AVAILABLE IMMEDIATELY - This is a fantastic opportunity to own a double in a desirable Gentilly neighborhood! Both units are currently occupied, offering immediate rental income potential. Each unit features a functional layout with 2 bedrooms and 1 bathroom. New AC & heating unit on 2437 side and new water heater. Don't miss out on this opportunity to grow your portfolio. Call today for your private viewing.

21. 2025-09-16
    listed $262,500 Active 416-char remark

    Show marketing remark (418 chars)

    AVAILABLE IMMEDIATELY - This is a fantastic opportunity to own a double in a desirable Gentilly neighborhood! Both units are currently occupied, offering immediate rental income potential. Each unit features a functional layout with 2 bedrooms and 1 bathroom. New AC & heating unit on 2437 side and new water heater. Don't miss out on this opportunity to grow your portfolio. Call today for your private viewing.

22. 2025-09-16
    listed $262,500 Active 418-char remark

    Show marketing remark (418 chars)

    AVAILABLE IMMEDIATELY - This is a fantastic opportunity to own a double in a desirable Gentilly neighborhood! Both units are currently occupied, offering immediate rental income potential. Each unit features a functional layout with 2 bedrooms and 1 bathroom. New AC & heating unit on 2437 side and new water heater. Don't miss out on this opportunity to grow your portfolio. Call today for your private viewing.

ⓘ 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: $2,484 · $207/mo
• Projected year-2 tax: $2,484 · $207/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 7/10 Severe FEMA zone X · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $33,852
• − Mortgage interest: −$12,603
• − Property taxes: −$2,484
• − Insurance: −$1,922
• − Repairs & maintenance: −$2,708
• − Management: −$2,708
• − Depreciation: −$6,545
• Taxable income: $4,880
• Est. tax owed @ 24.0%: −$1,171
• After-tax cash flow: $7,006/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): 35,253
• Household income: $49,455
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 2150.0

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: Predominantly Black (69%)
• Race & ethnicity: Black 69% White 18% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 4% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 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: ▼ -222.37%
• Current HPI: 231.9921
• Rent YoY: ▼ -0.61%
• 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

-14.3% since first listed

8 events — show timeline

• 2026-03-10 Price Changed $225,000 AcadianaMLS
• 2026-03-10 Price Changed $225,000 GSREIN
• 2026-01-12 Price Changed $249,000 AcadianaMLS
• 2026-01-12 Price Changed $249,000 GSREIN
• 2025-11-19 Relisted — GSREIN
• 2025-10-22 Pending — GSREIN
• 2025-09-16 Listed $262,500 GSREIN
• 2025-09-16 Listed $262,500 AcadianaMLS

Property tax history

+2.2%/yr

Latest (2026): $2,484 · +1.1% YoY. Source: county tax records.