13634/36 N Lemans St · New Orleans, LA 70129

$110,000

5 bd · 3.0 ba · 2,111 sqft · MultiFamily public records · 16 Days on market

Built 1970 6,534 sqft lot Est $91k · 21% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• 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

Income producing property. Owner over many years has kept the property in excellent condition. Easy to rent. Stable neighborhood for rentals.

Key facts

• Area schools
• Major roadways
• Functional layout

Tags

• RENTAL INCOME
• ESTABLISHED NEIGHBORHOOD
• FUNCTIONAL LAYOUT
• MAJOR ROADWAYS
• AREA SCHOOLS
• INCOME PRODUCING PROPERTY

Property features AI

Exterior

• Parking: 4 parking spaces
• Utilities: Public sewer
• Home design: Duplex; 2 total units
• Construction: Brick, brick veneer, and vinyl siding construction
• Exterior features: Brick, brick veneer, and vinyl siding exterior

Interior

• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Heat unit(s); Central air conditioning; AC unit(s)
• Interior features: Unit mix: Duplex (2 units); Property listed as fixer
• Laundry & utility: Washer/dryer hookup in Unit 1; Washer/dryer hookup in Unit 2

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $110k.

Deal economics

• At list price, monthly cash flow is $743 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.1% 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: 139 active listings in the ZIP; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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: 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 $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 15.12%
• Cash-on-cash: 31.52%
• DSCR: 2.40
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $90,773
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13450 52 N Lemans St	0.13mi	6/3.0 (+1)	2,200 (+4%)	15mo	$95,000	$43	70

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 1.96×
• Total profit: $29,554
• Equity at exit: $16,401

10-year hold

• IRR: 31.3%
• Equity multiple: 3.82×
• Total profit: $86,966
• Equity at exit: $9,511

Cash invested: $30,800 (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 70129

• Active inventory: 139
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,005 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$152 /mo · $1,826/yr
• Insurance: −$46
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $743

Break-even live

Break-even rent $1,065

Max offer price $110,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,019
1× unit	2	1	$986
Total (2 units)			$2,005

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $110,000 Active 16 DOM
2. 2026-06-17
   days on market $110,000 Active 15 DOM
3. 2026-06-16
   days on market $110,000 Active 14 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   days on market $110,000 Active 13 DOM
6. 2026-06-13
   days on market $110,000 Active 11 DOM
7. 2026-06-10
   days on market $110,000 Active 8 DOM
8. 2026-06-09
   days on market $110,000 Active 7 DOM
9. 2026-06-08
   days on market $110,000 Active 6 DOM
10. 2026-06-07
    days on market $110,000 Active 5 DOM
11. 2026-06-05
    days on market $110,000 Active 2 DOM
12. 2026-06-03
    remarks 680-char remark
13. 2026-06-03
    listed $110,000 Active 1 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: $1,826 · $152/mo
• Projected year-2 tax: $1,826 · $152/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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $24,060
• − Mortgage interest: −$6,162
• − Property taxes: −$1,826
• − Insurance: −$1,348
• − Repairs & maintenance: −$1,925
• − Management: −$1,925
• − Depreciation: −$3,200
• Taxable income: $7,675
• Est. tax owed @ 24.0%: −$1,842
• After-tax cash flow: $7,070/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
• City population: 338,817
• Population (ZIP): 10,219

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 0.65)
• Race & ethnicity: Black 49% Asian 29% Hispanic / Latino 12% White 8% Two or more races 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 32% · Vietnam, Canada, Jamaica
• Languages at home: 63% English-only · Vietnamese 29% Spanish 8%

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: ▼ -80.58%
• Current HPI: 116.8578
• Rent YoY: —
• Metro: —
• 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

+323.1% since first listed

5 events — show timeline

• 2026-06-01 Listed $110,000 AcadianaMLS
• 2005-04-21 Sold (MLS) $120,000 GSREIN
• 2004-09-07 Listed $115,000 AcadianaMLS
• 2004-09-07 Listed $115,000 GSREIN
• 1993-09-15 Sold (Public Records) $26,000 Public Records

Property tax history

+1.0%/yr

Latest (2026): $1,826 · +1.1% YoY. Source: county tax records.