2508 12 S Prieur St · New Orleans, LA 70125

$300,000

4 bd · 2.0 ba · 3,100 sqft · MultiFamily public records · 2 Days on market

Built 1959 $97/sqft · 25% below area Est $349k · 14% under

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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
• ARV discount +13.8/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Great time to purchase for owner occupy and have tenant pay a majority of the note. Would be a lucrative asset to your investment portfolio. Property at 2512 is available as well. One bedroom and bath downstairs.

Key facts

• Built 1959
• Listed 2 days

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/?-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $741 ($9k/yr) — positive. Per door: $247/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Cap rate 11.0% 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 flat; 217 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $4,171/mo this rent would consume 82% of the median local household income ($61k/yr) (locally 1270% 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 8y ago; this cycle's ask is 13% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $12k; list at $300k implies a 2400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $300,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.39% ✓
• Cap rate: 10.96%
• Cash-on-cash: 16.67%
• DSCR: 1.74
• GRM: 6.0

CMA / ARV

• ARV (median comp): $348,589
• List price: $300,000
• Delta: -42.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4009 11 Elba St	0.58mi	4/3.0	3,009 (-3%)	6mo	$339,000	$113	59
2909 1st St	0.26mi	5/3.0 (+1)	2,654 (-14%)	3mo	$75,000	$28	52
2510-12 Peniston St	0.73mi	4/3.5	3,190 (+3%)	15mo	$169,000	$53	42
4518-20 S Tonti St	0.71mi	4/—	2,904 (-6%)	21mo	$489,000	$168	39
4518 20 S Tonti St	0.71mi	4/4.0	2,904 (-6%)	21mo	$489,000	$168	31

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: -3.4%
• Equity multiple: 0.88×
• Total profit: $-10,400
• Equity at exit: $44,731

10-year hold

• IRR: 3.1%
• Equity multiple: 1.20×
• Total profit: $16,615
• Equity at exit: $25,939

Cash invested: $84,000 (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 70125

• Home prices YoY: -16.3%
• Rents YoY: 0.7%
• Active inventory: 217
• Price-to-rent: 18.0×

Monthly cashflow live

• Estimated rent: $4,171 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$430 /mo · $5,156/yr
• Insurance: −$125
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$876
• Net cashflow: $741

Break-even live

Break-even rent $3,234

Max offer price $300,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	—	$4,170
Total (3 units)			$4,171

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3200 Washington Ave Unit NA New Orleans, LA	4.0	3.0	2490	$3,400	$1.37	3d	1	0.18mi
4027 S Derbigny St New Orleans, LA	3.0	2.0	2950	$1,950	$0.66	24d	1	0.44mi
4442 S Johnson St Unit 4442 New Orleans, LA	4.0	4.5	3000	$4,500	$1.50	12d	1	0.68mi
2600 Peniston St New Orleans, LA	4.0	2.0	2342	$3,500	$1.49	44d	1	0.69mi
3350 Jena St New Orleans, LA	3.0	2.5	2200	$2,500	$1.14	44d	1	0.69mi
4120 Erato St New Orleans, LA	3.0	2.0	2250	$1,750	$0.78	24d	1	0.73mi
3112 Upperline St New Orleans, LA	5.0	3.5	2800	$3,650	$1.30	24d	1	0.84mi
5533 S Tonti St New Orleans, LA	4.0	4.0	3000	$3,000	$1.00	15d	1	0.97mi
2625 Baronne St Unit 1 New Orleans, LA	3.0	1.5	2100	$2,600	$1.24	44d	1	0.98mi
2308 Jena St New Orleans, LA	3.0	2.5	2550	$3,300	$1.29	44d	1	1.06mi
3314 Carondelet St Unit A New Orleans, LA	3.0	2.0	3500	$3,000	$0.86	24d	1	1.16mi
822 Howard Ave Unit 1272354P New Orleans, LA	1.0–5.0	1.0–4.0	1749	$9,250	$5.29	2d	3	1.18mi
1927 Napoleon Ave New Orleans, LA	5.0	2.0	3350	$3,600	$1.07	44d	1	1.19mi
1907 Napoleon Ave New Orleans, LA	4.0	2.0	2500	$2,800	$1.12	17d	1	1.22mi
2703 Palmer Ave New Orleans, LA	5.0	2.0	2349	$5,500	$2.34	44d	1	1.26mi
2715 Palmer Ave New Orleans, LA	5.0	2.0	2184	$4,900	$2.24	44d	1	1.26mi
2217 Jefferson Ave Unit none New Orleans, LA	3.0	2.0	2500	$2,500	$1.00	44d	1	1.29mi
5516 S Robertson St Unit A New Orleans, LA	3.0	2.5	3614	$2,800	$0.77	44d	1	1.30mi
2306 Octavia St New Orleans, LA	3.0	2.0	2254	$2,650	$1.18	3d	1	1.32mi
1435 Euterpe St New Orleans, LA	4.0	3.5	2825	$16,000	$5.66	16d	1	1.32mi
5830 Clara St Unit 1 New Orleans, LA	4.0	2.0	2100	$4,500	$2.14	44d	1	1.33mi
2616 Calhoun St New Orleans, LA	4.0	2.5	2850	$2,500	$0.88	44d	1	1.35mi
419 Carondelet St Unit PHB New Orleans, LA	3.0	2.5	2546	$5,700	$2.24	3d	1	1.36mi
2322 Nashville Ave New Orleans, LA	4.0	2.0	2249	$2,750	$1.22	44d	1	1.36mi
2432 Calhoun St New Orleans, LA	4.0	2.0	3300	$4,400	$1.33	17d	1	1.43mi
800 Gravier St Unit 1272312P New Orleans, LA	2.0–4.0	2.0–4.0	1673	$6,169	$3.69	15d	2	1.47mi
7325 Sycamore St New Orleans, LA	4.0	3.0	2500	$2,350	$0.94	24d	1	1.47mi

Listing history 32 events

1. 2026-06-18
   days on market $300,000 Active 2 DOM
2. 2026-06-17
   remarks 283-char remark
3. 2026-06-17
   pricedays on marketlisting id $300,000 Active 1 DOM
4. 2026-06-16
   days on market $200,000 Active 135 DOM
5. 2026-06-16
   price $200,000 Active 134 DOM
6. 2026-06-15
   days on market $228,000 Active 134 DOM
7. 2026-06-13
   days on market $228,000 Active 132 DOM
8. 2026-06-10
   days on market $228,000 Active 129 DOM
9. 2026-06-09
   days on market $228,000 Active 128 DOM
10. 2026-06-08
    days on market $228,000 Active 127 DOM
11. 2026-06-07
    days on market $228,000 Active 126 DOM
12. 2026-06-05
    days on market $228,000 Active 123 DOM
13. 2026-06-03
    days on market $228,000 Active 122 DOM
14. 2026-06-02
    days on market $228,000 Active 121 DOM
15. 2026-06-01
    days on market $228,000 Active 120 DOM
16. 2026-05-31
    days on market $228,000 Active 119 DOM
17. 2026-05-02
    price $228,000 212-char remark

    Show marketing remark (212 chars)

    Great time to purchase for owner occupy and have tenant pay a majority of the note. Would be a lucrative asset to your investment portfolio. Property at 2512 is available as well. One bedroom and bath downstairs.

18. 2026-05-02
    price $228,000 212-char remark

    Show marketing remark (212 chars)

    Great time to purchase for owner occupy and have tenant pay a majority of the note. Would be a lucrative asset to your investment portfolio. Property at 2512 is available as well. One bedroom and bath downstairs.

19. 2026-03-15
    price $240,000 212-char remark

    Show marketing remark (212 chars)

    Great time to purchase for owner occupy and have tenant pay a majority of the note. Would be a lucrative asset to your investment portfolio. Property at 2512 is available as well. One bedroom and bath downstairs.

20. 2026-03-15
    price $240,000 212-char remark

    Show marketing remark (212 chars)

    Great time to purchase for owner occupy and have tenant pay a majority of the note. Would be a lucrative asset to your investment portfolio. Property at 2512 is available as well. One bedroom and bath downstairs.

21. 2026-02-02
    status Active 212-char remark

    Show marketing remark (212 chars)

    Great time to purchase for owner occupy and have tenant pay a majority of the note. Would be a lucrative asset to your investment portfolio. Property at 2512 is available as well. One bedroom and bath downstairs.

22. 2026-01-31
    historical 212-char remark

    Show marketing remark (212 chars)

    Great time to purchase for owner occupy and have tenant pay a majority of the note. Would be a lucrative asset to your investment portfolio. Property at 2512 is available as well. One bedroom and bath downstairs.

23. 2026-01-24
    listed $265,000 Active 212-char remark

    Show marketing remark (212 chars)

    Great time to purchase for owner occupy and have tenant pay a majority of the note. Would be a lucrative asset to your investment portfolio. Property at 2512 is available as well. One bedroom and bath downstairs.

24. 2026-01-24
    listed $265,000 Active 212-char remark

    Show marketing remark (212 chars)

    Great time to purchase for owner occupy and have tenant pay a majority of the note. Would be a lucrative asset to your investment portfolio. Property at 2512 is available as well. One bedroom and bath downstairs.

25. 2025-06-10
    soldstatus $12,000
26. 2018-10-11
    listed $59,000
27. 2018-10-01
    historical
28. 2018-09-20
    price $59,000
29. 2018-09-12
    price $60,000
30. 2018-08-03
    status Active
31. 2018-07-27
    status Under Contract
32. 2018-07-14
    listed $65,000 Active

ⓘ 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: $5,156 · $430/mo
• Projected year-2 tax: $5,156 · $430/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 AE · 77% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,052
• − Mortgage interest: −$16,805
• − Property taxes: −$5,156
• − Insurance: −$6,619
• − Repairs & maintenance: −$4,004
• − Management: −$4,004
• − Depreciation: −$8,727
• Taxable income: $4,737
• Est. tax owed @ 24.0%: −$1,137
• After-tax cash flow: $7,751/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): 17,821
• Household income: $61,174
• Rent vs Own: 53.3% rent · 46.7% own
• Severe rent burden: 1270.0

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 0.63)
• Race & ethnicity: Black 51% White 32% Hispanic / Latino 9% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Romanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 1% Chinese 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: ▼ -49.68%
• Current HPI: 255.5998
• Rent YoY: ▲ 0.73%
• 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

+250.8% since first listed

16 events — show timeline

• 2026-05-02 Price Changed $228,000 AcadianaMLS
• 2026-05-02 Price Changed $228,000 GSREIN
• 2026-03-15 Price Changed $240,000 AcadianaMLS
• 2026-03-15 Price Changed $240,000 GSREIN
• 2026-02-02 Relisted — GSREIN
• 2026-01-31 Listing Removed — GSREIN
• 2026-01-24 Listed $265,000 GSREIN
• 2026-01-24 Listed $265,000 AcadianaMLS
• 2025-06-10 Sold (Public Records) $12,000 Public Records
• 2018-10-11 Listed $59,000 AcadianaMLS
• 2018-10-01 Listing Removed — GSREIN
• 2018-09-20 Price Changed $59,000 GSREIN
• 2018-09-12 Price Changed $60,000 GSREIN
• 2018-08-03 Relisted — GSREIN
• 2018-07-27 Pending — GSREIN
• 2018-07-14 Listed $65,000 GSREIN

Property tax history

+18.0%/yr

Latest (2026): $5,156 · +1.1% YoY. Source: county tax records.