107-09 W Brooks St · New Orleans, LA 70124

$850,000

None bd · None ba · 4,577 sqft · MultiFamily · 86 Days on market

Good condition 0.32 ac lot $186/sqft · 70% above area

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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
• Condition / age +4.0/5.0
• Rent growth +2.4/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Discover the perfect blend of space, style, and flexibility in this beautifully elevated two-story residence. The main home offers 7 generously sized rooms throughout. Attached, yet completely private, is a separate 2-bedroom, 1-bath apartment with its own entrance -- a fantastic option for guests, rental income, or an in-law suite.Hardwood floors, granitie countertops, ss appliances. A standout feature is the full-size dumbwaiter connecting all three levels -- a rare convenience that adds both charm and practicality. Enjoy gatherings in the expansive breezeway for celebrations or relaxing evenings, with a large backyard just beyond. With three separate driveways, there's no shortage of parking or space to accommodate everyone. All of this, tucked in a prime location with quick access to I-10, Veterans Blvd, Lakeview, Mid-City, and Uptown -- you're truly minutes from everything. This one-of-a-kind property offers space to grow, room to create, and endless potential.

Key facts

• Two story residence
• Large backyard
• Separate apartment

Tags

• TWO STORY RESIDENCE
• SEPARATE APARTMENT
• FULL SIZE DUMBWAITER
• EXPANSIVE BREEZEWAY
• LARGE BACKYARD
• THREE SEPARATE DRIVEWAYS

What this means for you Summary

Snapshot

• This is a multifamily listed at $850k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $8k ($90k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $850k).
• Recommended offer: $799k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.0% 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 (-0.4%/yr); 220 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $17,056/mo this rent would consume 169% of the median local household income ($121k/yr) (locally 332% 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 $6k of loan paydown is wiped out by about $26k 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 + 0.0% rent growth), your $238k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($799k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $799,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.01% ✓
• Cap rate: 17.02%
• Cash-on-cash: 38.32%
• DSCR: 2.71
• GRM: 4.2

CMA / ARV

• ARV (median comp): $501,166
• List price: $850,000
• Delta: 69.60%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5573-75 Milne Blvd	0.45mi	8/—	4,000 (-13%)	22mo	$350,000	$88	40

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: 30.6%
• Equity multiple: 2.23×
• Total profit: $292,398
• Equity at exit: $126,738

10-year hold

• IRR: 36.1%
• Equity multiple: 3.86×
• Total profit: $680,501
• Equity at exit: $73,492

Cash invested: $238,000 (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 70124

• Rents YoY: -0.4%
• Active inventory: 220
• Price-to-rent: 37.4×

Monthly cashflow live

• Estimated rent: $17,056 high
• Mortgage (P&I): −$4,457
• Tax est. 1.5%: −$1,062 /mo · $12,750/yr
• Insurance: −$354
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,582
• Net cashflow: $7,534

Break-even live

Break-even rent $7,520

Max offer price $850,000

Occupancy floor 51%

Sensitivity live

Price	-10% $8,121	-5% $7,827	+0% $7,534	+5% $7,240	+10% $6,946
Rent	-10% $6,186	-5% $6,860	+0% $7,534	+5% $8,207	+10% $8,881
Rate	-1.0pp $7,962	-0.5pp $7,750	base $7,534	+0.5pp $7,313	+1.0pp $7,089

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

Units	Beds	Baths	Est. rent
▸ 9× units	3	1	$17,055
Total (9 units)			$17,056

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35 Oaklawn Dr Metairie, LA	3.0	3.0	3175	$12,000	$3.78	44d	1	1.06mi

Listing history 11 events

1. 2026-06-03
   days on market $850,000 Active 86 DOM
2. 2026-06-02
   days on market $850,000 Active 85 DOM
3. 2026-06-01
   days on market $850,000 Active 84 DOM
4. 2026-05-31
   days on market $850,000 Active 83 DOM
5. 2026-04-29
   status Active 980-char remark

   Show marketing remark (980 chars)

   Discover the perfect blend of space, style, and flexibility in this beautifully elevated two-story residence. The main home offers 7 generously sized rooms throughout. Attached, yet completely private, is a separate 2-bedroom, 1-bath apartment with its own entrance -- a fantastic option for guests, rental income, or an in-law suite.Hardwood floors, granitie countertops, ss appliances. A standout feature is the full-size dumbwaiter connecting all three levels -- a rare convenience that adds both charm and practicality. Enjoy gatherings in the expansive breezeway for celebrations or relaxing evenings, with a large backyard just beyond. With three separate driveways, there's no shortage of parking or space to accommodate everyone. All of this, tucked in a prime location with quick access to I-10, Veterans Blvd, Lakeview, Mid-City, and Uptown -- you're truly minutes from everything. This one-of-a-kind property offers space to grow, room to create, and endless potential.

6. 2026-02-28
   status Pending 980-char remark

   Show marketing remark (980 chars)

   Discover the perfect blend of space, style, and flexibility in this beautifully elevated two-story residence. The main home offers 7 generously sized rooms throughout. Attached, yet completely private, is a separate 2-bedroom, 1-bath apartment with its own entrance -- a fantastic option for guests, rental income, or an in-law suite.Hardwood floors, granitie countertops, ss appliances. A standout feature is the full-size dumbwaiter connecting all three levels -- a rare convenience that adds both charm and practicality. Enjoy gatherings in the expansive breezeway for celebrations or relaxing evenings, with a large backyard just beyond. With three separate driveways, there's no shortage of parking or space to accommodate everyone. All of this, tucked in a prime location with quick access to I-10, Veterans Blvd, Lakeview, Mid-City, and Uptown -- you're truly minutes from everything. This one-of-a-kind property offers space to grow, room to create, and endless potential.

7. 2026-01-09
   listed $850,000 Active 980-char remark

   Show marketing remark (980 chars)

   Discover the perfect blend of space, style, and flexibility in this beautifully elevated two-story residence. The main home offers 7 generously sized rooms throughout. Attached, yet completely private, is a separate 2-bedroom, 1-bath apartment with its own entrance -- a fantastic option for guests, rental income, or an in-law suite.Hardwood floors, granitie countertops, ss appliances. A standout feature is the full-size dumbwaiter connecting all three levels -- a rare convenience that adds both charm and practicality. Enjoy gatherings in the expansive breezeway for celebrations or relaxing evenings, with a large backyard just beyond. With three separate driveways, there's no shortage of parking or space to accommodate everyone. All of this, tucked in a prime location with quick access to I-10, Veterans Blvd, Lakeview, Mid-City, and Uptown -- you're truly minutes from everything. This one-of-a-kind property offers space to grow, room to create, and endless potential.

8. 2025-05-21
   price $899,000
9. 2025-03-24
   listed $950,000 Active
10. 2024-12-13
    historical $1,450
11. 2024-10-03
    listed $1,450

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $204,672
• − Mortgage interest: −$47,613
• − Property taxes: −$12,750
• − Insurance: −$5,048
• − Repairs & maintenance: −$16,374
• − Management: −$16,374
• − Depreciation: −$24,727
• Taxable income: $81,786
• Est. tax owed @ 24.0%: −$19,629
• After-tax cash flow: $70,775/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This two-story home features a good condition with well-maintained exterior and interior. It has a good potential for both resale and rental value with minor cosmetic updates.

Value-add opportunities

• Resale Paint exterior — Fresh paint can enhance curb appeal and property value
• Rental Landscaping — Well-maintained landscaping can attract tenants and increase rental income

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Fresh paint can enhance curb appeal and property value ↑
• Rental Landscaping — Well-maintained landscaping can attract tenants and increase rental income ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 21,778
• Household income: $121,228
• Rent vs Own: 22.4% rent · 77.6% own
• Severe rent burden: 332.0

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 White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 14% Two or more races 13% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Cuban 4%
• Common ancestry: Lithuanian 18% Slovak 2% Italian 2%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 1% 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: ▼ -227.84%
• Current HPI: 181.5835
• Rent YoY: ▼ -0.37%
• 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

+58520.7% since first listed

7 events — show timeline

• 2026-04-29 Relisted — AcadianaMLS
• 2026-02-28 Pending — AcadianaMLS
• 2026-01-09 Listed $850,000 AcadianaMLS
• 2025-05-21 Price Changed $899,000 AcadianaMLS
• 2025-03-24 Listed $950,000 AcadianaMLS
• 2024-12-13 Rental Removed $1,450 GSREIN
• 2024-10-03 Listed for Rent $1,450 GSREIN