2130 Robert St · New Orleans, LA 70115

$425,000

6 bd · 2.0 ba · 3,062 sqft · MultiFamily public records · 65 Days on market

Built 1940 4,552 sqft lot $139/sqft · 16% below area Est $570k · 25% under

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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 +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Incredible opportunity for a very large double just off Freret Street. Each unit is on its own floor, featuring a spacious sunroom, living room, separate dining room, and generous kitchen. On the first floor, the kitchen has custom wood cabinetry to the ceiling, and the slate floors were thoughtfully repurposed from a French Quarter roof. The bathroom was remodeled in 2026 to provide a fresh look while preserving the original storage cabinets. Room for a stackable washer/dryer was also built into the bathroom. All other rooms have hardwood floors, including underneath the bedroom carpets, and charming details can be found throughout. Complete with a screened in porch, the downstairs alone has 1735 total square feet. Upstairs, accessed through a separate entrance, enters into the living room. With a similar layout, the upper unit is distinguished by its butlers pantry and separate laundry room. It also includes 3 bedrooms, 1 bathroom, and 1735 total sqft with the screened in porch (1531 without). Each unit is separately metered. The property has a driveway and a very large back patio area, making this a low maintenance property after doing touch ups. Recent updates include a 2026 upgrade to pex for downstairs plumbing and the sewer line, repaired gas line in 2026, and new water heaters in 2025 and 2021. Foundation repairs were completed in 2025 per Gurtler Bros recommendations. Come see this delightful property and become a part of the vibrant Freret neighborhood!

Key facts

• Slate floors
• Remodeled bathroom
• Spacious sunroom

Tags

• SPACIOUS SUNROOM
• CUSTOM WOOD CABINETRY
• SLATE FLOORS
• REMODELED BATHROOM
• STACKABLE WASHER DRYER
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $587 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $425k).
• Recommended offer: $400k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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 (-1.4%/yr); 280 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $4,536/mo this rent would consume 60% of the median local household income ($90k/yr) (locally 1756% 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 $3k of loan paydown is wiped out by about $13k 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 65 days — a 6% lower offer ($400k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $425k implies a 554% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — 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 $399,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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: 1.07% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.59%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (median comp): $570,000
• List price: $425,000
• Delta: -25.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2500 Nashville Ave	0.46mi	6/4.0	3,104 (+1%)	3mo	$385,000	$124	66
4709-11 Baronne St	0.40mi	6/4.0	2,990 (-2%)	9mo	$650,000	$217	62
4321 23 S Derbigny St	0.64mi	6/4.0	3,020 (-1%)	0mo	$499,000	$165	60
5518 20 Willow St	0.40mi	6/2.5	2,920 (-5%)	15mo	$525,000	$180	59
2623 25 Joseph St	0.45mi	6/3.0	2,875 (-6%)	11mo	$400,000	$139	56
2330 32 Jefferson Ave	0.22mi	7/6.0 (+1)	3,193 (+4%)	9mo	$715,000	$224	55
4429 31 Danneel St	0.38mi	7/5.0 (+1)	2,980 (-3%)	8mo	$700,000	$235	54
2416 18 Soniat St	0.19mi	5/5.5 (-1)	3,384 (+10%)	2mo	$905,000	$267	53
3025 Jefferson Ave	0.58mi	6/3.0	3,276 (+7%)	8mo	$402,424	$123	51
4512 14 S Derbigny St	0.54mi	7/3.0 (+1)	2,923 (-4%)	13mo	$436,100	$149	47
3015 Nashville Ave	0.68mi	5/3.0 (-1)	3,308 (+8%)	2mo	$595,000	$180	44
2622-24 General Pershing St	0.45mi	6/3.0	2,629 (-14%)	19mo	$482,500	$184	35

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: -10.6%
• Equity multiple: 0.62×
• Total profit: $-44,648
• Equity at exit: $63,369

10-year hold

• IRR: -6.3%
• Equity multiple: 0.65×
• Total profit: $-41,656
• Equity at exit: $36,746

Cash invested: $119,000 (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 70115

• Rents YoY: -1.4%
• Active inventory: 280
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $4,536 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$524 /mo · $6,286/yr
• Insurance: −$177
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$953
• Net cashflow: $587

Break-even live

Break-even rent $3,793

Max offer price $425,000

Occupancy floor 82%

Sensitivity live

Price	-10% $828	-5% $708	+0% $587	+5% $467	+10% $347
Rent	-10% $229	-5% $408	+0% $587	+5% $767	+10% $946
Rate	-1.0pp $801	-0.5pp $695	base $587	+0.5pp $477	+1.0pp $365

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,536
Total (2 units)			$4,536

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1927 Napoleon Ave New Orleans, LA	5.0	2.0	3350	$3,600	$1.07	44d	1	0.49mi
4 Cromwell Pl New Orleans, LA	5.0	2.0	2600	$7,000	$2.69	44d	1	0.52mi
3112 Upperline St New Orleans, LA	5.0	3.5	2800	$3,650	$1.30	24d	1	0.56mi
2703 Palmer Ave New Orleans, LA	5.0	2.0	2349	$5,500	$2.34	44d	1	0.66mi
2715 Palmer Ave New Orleans, LA	5.0	2.0	2184	$4,900	$2.24	44d	1	0.67mi
2808 Calhoun St New Orleans, LA	6.0	4.0	3037	$7,500	$2.47	22d	1	0.77mi
7011 Jeannette St Unit A New Orleans, LA	5.0	3.0	2200	$5,000	$2.27	44d	1	0.95mi
1519 Pine St New Orleans, LA	5.0	3.0	3000	$4,000	$1.33	24d	1	1.08mi
7211 Saint Charles Ave New Orleans, LA	5.0	3.0	2800	$2,999	$1.07	44d	1	1.11mi
536 Nashville Ave New Orleans, LA	5.0	4.5	3860	$10,000	$2.59	18d	1	1.18mi

Listing history 18 events

1. 2026-06-21
   days on market $425,000 Active 65 DOM
2. 2026-06-18
   days on market $425,000 Active 62 DOM
3. 2026-06-17
   days on market $425,000 Active 61 DOM
4. 2026-06-16
   pricedays on market $425,000 Active 60 DOM
5. 2026-06-15
   days on market $440,000 Active 59 DOM
6. 2026-06-13
   days on market $440,000 Active 57 DOM
7. 2026-06-10
   days on market $440,000 Active 54 DOM
8. 2026-06-09
   days on market $440,000 Active 53 DOM
9. 2026-06-08
   days on market $440,000 Active 52 DOM
10. 2026-06-07
    days on market $440,000 Active 51 DOM
11. 2026-06-05
    days on market $440,000 Active 48 DOM
12. 2026-06-03
    days on market $440,000 Active 47 DOM
13. 2026-06-02
    days on market $440,000 Active 46 DOM
14. 2026-06-01
    days on market $440,000 Active 45 DOM
15. 2026-05-31
    days on market $440,000 Active 44 DOM
16. 2026-04-17
    listed $450,000 Active 1487-char remark

    Show marketing remark (1487 chars)

    Incredible opportunity for a very large double just off Freret Street. Each unit is on its own floor, featuring a spacious sunroom, living room, separate dining room, and generous kitchen. On the first floor, the kitchen has custom wood cabinetry to the ceiling, and the slate floors were thoughtfully repurposed from a French Quarter roof. The bathroom was remodeled in 2026 to provide a fresh look while preserving the original storage cabinets. Room for a stackable washer/dryer was also built into the bathroom. All other rooms have hardwood floors, including underneath the bedroom carpets, and charming details can be found throughout. Complete with a screened in porch, the downstairs alone has 1735 total square feet. Upstairs, accessed through a separate entrance, enters into the living room. With a similar layout, the upper unit is distinguished by its butlers pantry and separate laundry room. It also includes 3 bedrooms, 1 bathroom, and 1735 total sqft with the screened in porch (1531 without). Each unit is separately metered. The property has a driveway and a very large back patio area, making this a low maintenance property after doing touch ups. Recent updates include a 2026 upgrade to pex for downstairs plumbing and the sewer line, repaired gas line in 2026, and new water heaters in 2025 and 2021. Foundation repairs were completed in 2025 per Gurtler Bros recommendations. Come see this delightful property and become a part of the vibrant Freret neighborhood!

17. 2026-04-17
    listed $450,000 Active 1487-char remark

    Show marketing remark (1487 chars)

    Incredible opportunity for a very large double just off Freret Street. Each unit is on its own floor, featuring a spacious sunroom, living room, separate dining room, and generous kitchen. On the first floor, the kitchen has custom wood cabinetry to the ceiling, and the slate floors were thoughtfully repurposed from a French Quarter roof. The bathroom was remodeled in 2026 to provide a fresh look while preserving the original storage cabinets. Room for a stackable washer/dryer was also built into the bathroom. All other rooms have hardwood floors, including underneath the bedroom carpets, and charming details can be found throughout. Complete with a screened in porch, the downstairs alone has 1735 total square feet. Upstairs, accessed through a separate entrance, enters into the living room. With a similar layout, the upper unit is distinguished by its butlers pantry and separate laundry room. It also includes 3 bedrooms, 1 bathroom, and 1735 total sqft with the screened in porch (1531 without). Each unit is separately metered. The property has a driveway and a very large back patio area, making this a low maintenance property after doing touch ups. Recent updates include a 2026 upgrade to pex for downstairs plumbing and the sewer line, repaired gas line in 2026, and new water heaters in 2025 and 2021. Foundation repairs were completed in 2025 per Gurtler Bros recommendations. Come see this delightful property and become a part of the vibrant Freret neighborhood!

18. 1983-03-11
    soldstatus $65,000

ⓘ 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: $6,286 · $524/mo
• Projected year-2 tax: $6,286 · $524/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) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 21 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,432
• − Mortgage interest: −$23,807
• − Property taxes: −$6,286
• − Insurance: −$2,922
• − Repairs & maintenance: −$4,355
• − Management: −$4,355
• − Depreciation: −$12,364
• Taxable income: $345
• Est. tax owed @ 24.0%: −$83
• After-tax cash flow: $6,966/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): 31,183
• Household income: $90,182
• Rent vs Own: 45.7% rent · 54.3% own
• Severe rent burden: 1756.0

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 0.58)
• Race & ethnicity: White 59% Black 26% Two or more races 8% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 8% Italian 3% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -272.08%
• Current HPI: 287.2138
• Rent YoY: ▼ -1.42%
• 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

+592.3% since first listed

3 events — show timeline

• 2026-04-17 Listed $450,000 AcadianaMLS
• 2026-04-17 Listed $450,000 GSREIN
• 1983-03-11 Sold (Public Records) $65,000 Public Records

Property tax history

+4.7%/yr

Latest (2026): $6,286 · +1.1% YoY. Source: county tax records.