1732 Alabo St · New Orleans, LA 70117

$190,000

4 bd · 2.0 ba · 1,536 sqft · MultiFamily public records · 110 Days on market

Built 1965 3,781 sqft lot $124/sqft · 7% above area Est $177k · 7% over

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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 +4.2/15.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• 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: 2 units. confirmed

Listing remarks MLS

This well kept duplex is nestled neatly on a spacious lot located in an area with lots of renovation and This beautiful renovated nestled on a spacious lot is not a drive by. The building is surrounded by renovations and new construction, The building consists of 5 bedrooms. 3 bedrooms in the front unit and 2 bedrooms for the back unit. Both units have central air and heat. There are just too many things to list. Rent one unit and live in the other. It is also great rental property. Schedule an appointment and come experience the true beauty. .

Key facts

• 3,781 sq ft lot
• 2 parking spots
• Built 1965

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $190k.

Deal economics

• At list price, monthly cash flow is $986 ($12k/yr) — positive. Per door: $493/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $173k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.9% 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 rising (+2.5%/yr); 581 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,915/mo this rent would consume 76% of the median local household income ($46k/yr) (locally 1988% 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 $1k of loan paydown is wiped out by about $6k 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 + 2.5% rent growth), your $53k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 25y ago; this cycle's ask has dropped $30k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $190k implies a 850% gain — meaningful room to come down on a strong offer.

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 $172,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.53% ✓
• Cap rate: 12.94%
• Cash-on-cash: 23.75%
• DSCR: 2.06
• GRM: 5.4

CMA / ARV

• ARV (median comp): $176,846
• List price: $190,000
• Delta: 7.44%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5406 Urquhart St	0.47mi	4/2.0	1,368 (-11%)	12mo	$90,000	$66	50
1001 3 Gordon St	0.57mi	4/2.0	1,580 (+3%)	22mo	$170,000	$108	50
5450-52 Burgundy St	0.70mi	4/2.0	1,471 (-4%)	23mo	$185,000	$126	41
5445-47 Burgundy St	0.68mi	4/—	1,392 (-9%)	22mo	$133,000	$96	34
5445 47 Burgundy St	0.68mi	4/2.0	1,392 (-9%)	22mo	$133,000	$96	34

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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.58×
• Total profit: $30,596
• Equity at exit: $28,330

10-year hold

• IRR: 22.8%
• Equity multiple: 2.91×
• Total profit: $101,684
• Equity at exit: $16,428

Cash invested: $53,200 (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 70117

• Rents YoY: 2.5%
• Active inventory: 581
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,915 high
• Mortgage (P&I): −$996
• Tax from tax record: −$174 /mo · $2,093/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$612
• Net cashflow: $986

Break-even live

Break-even rent $1,666

Max offer price $190,000

Occupancy floor 61%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,916
Total (2 units)			$2,915

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1925 Alabo St Unit A New Orleans, LA	3.0	2.0	1199	$1,500	$1.25	21d	1	0.13mi
1901 Tupelo St New Orleans, LA	3.0	2.5	1568	$2,300	$1.47	3d	1	0.23mi
1824 Saint Maurice Ave New Orleans, LA	4.0	2.0	1500	$1,500	$1.00	24d	1	0.26mi
1714 Tricou St New Orleans, LA	3.0	2.0	1271	$1,900	$1.49	24d	1	0.29mi
1327 Fats Domino Ave Unit A New Orleans, LA	3.0	2.0	1200	$1,900	$1.58	3d	1	0.31mi
1327 Fats Domino Ave Unit B New Orleans, LA	4.0	2.0	1200	$2,200	$1.83	16d	1	0.31mi
1314 Lamanche St New Orleans, LA	4.0	1.0	1300	$2,100	$1.62	16d	1	0.31mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	3d	1	0.33mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1090	$1,600	$1.47	3d	1	0.33mi
1301 Lamanche St New Orleans, LA	3.0	2.0	1178	$1,600	$1.36	24d	1	0.33mi
1201 Gordon St New Orleans, LA	3.0	2.5	1367	$1,900	$1.39	17d	1	0.40mi
1422 Andry St New Orleans, LA	3.0	2.0	1100	$1,400	$1.27	3d	1	0.41mi
5618 N Tonti St New Orleans, LA	3.0	2.0	1128	$1,550	$1.37	24d	1	0.42mi
5461 Saint Claude Ave New Orleans, LA	4.0	2.0	1250	$2,350	$1.88	24d	1	0.51mi
5459 Saint Claude Ave Unit 5461 New Orleans, LA	4.0	2.0	1454	$2,350	$1.62	24d	1	0.52mi
6038 N Rampart St New Orleans, LA	3.0	2.0	1080	$1,795	$1.66	24d	1	0.58mi
1333 Angela Ave Arabi, LA	3.0	2.0	1090	$1,850	$1.70	3d	1	0.61mi
2539 Fats Domino Ave New Orleans, LA	3.0	2.0	1184	$1,850	$1.56	20d	1	0.64mi
906 Flood St New Orleans, LA	3.0	3.0	1174	$1,700	$1.45	2d	1	0.66mi
2012 Esteban St Arabi, LA	3.0	2.0	1466	$2,500	$1.71	10d	1	0.67mi
2301 Esteban St Arabi, LA	3.0	1.0	1102	$1,800	$1.63	14d	1	0.78mi
617 Forstall St New Orleans, LA	3.0	2.0	1262	$2,200	$1.74	3d	1	0.95mi
619 Reynes St New Orleans, LA	3.0	2.0	1318	$2,100	$1.59	16d	1	0.99mi
1239 Center St Arabi, LA	4.0	2.0	1922	$3,500	$1.82	3d	1	1.00mi
1511 Schnell Dr Arabi, LA	4.0	3.0	1700	$1,850	$1.09	3d	1	1.04mi
6900 Royal St Arabi, LA	3.0	2.0	1579	$5,888	$3.73	3d	1	1.04mi
1529 Schnell Dr Arabi, LA	3.0	2.5	1736	$2,600	$1.50	2d	1	1.04mi
1019 Center St Arabi, LA	5.0	3.0	1973	$5,888	$2.98	2d	1	1.10mi
7532 Patricia St Arabi, LA	4.0	3.0	2099	$2,200	$1.05	44d	1	1.19mi
438 Friscoville Ave Arabi, LA	3.0	2.0	1500	$3,200	$2.13	3d	1	1.19mi
4318 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	3d	1	1.20mi
4318 1/2 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	3d	1	1.20mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	3d	1	1.20mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	2d	1	1.20mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	12d	1	1.22mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	24d	1	1.23mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	24d	1	1.23mi
4222 N Johnson St New Orleans, LA	3.0	2.0	1100	$1,895	$1.72	24d	1	1.26mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	24d	1	1.28mi
310 Lynx Dr Arabi, LA	3.0	2.0	1050	$1,775	$1.69	24d	1	1.29mi

Listing history 30 events

1. 2026-06-18
   days on market $190,000 Active 110 DOM
2. 2026-06-17
   days on market $190,000 Active 109 DOM
3. 2026-06-16
   days on market $190,000 Active 108 DOM
4. 2026-06-15
   days on market $190,000 Active 107 DOM
5. 2026-06-13
   days on market $190,000 Active 105 DOM
6. 2026-06-10
   days on market $190,000 Active 102 DOM
7. 2026-06-09
   days on market $190,000 Active 101 DOM
8. 2026-06-08
   days on market $190,000 Active 100 DOM
9. 2026-06-07
   days on market $190,000 Active 99 DOM
10. 2026-06-05
    pricedays on market $190,000 Active 96 DOM
11. 2026-06-03
    days on market $200,000 Active 95 DOM
12. 2026-06-02
    days on market $200,000 Active 94 DOM
13. 2026-06-01
    days on market $200,000 Active 93 DOM
14. 2026-05-31
    days on market $200,000 Active 92 DOM
15. 2026-05-13
    price $200,000 550-char remark

    Show marketing remark (553 chars)

    This well kept duplex is nestled neatly on a spacious lot located in an area with lots of renovation and This beautiful renovated nestled on a spacious lot is not a drive by. The building is surrounded by renovations and new construction, The building consists of 5 bedrooms. 3 bedrooms in the front unit and 2 bedrooms for the back unit. Both units have central air and heat. There are just too many things to list. Rent one unit and live in the other. It is also great rental property. Schedule an appointment and come experience the true beauty. .

16. 2026-05-13
    price $200,000 553-char remark

    Show marketing remark (553 chars)

    This well kept duplex is nestled neatly on a spacious lot located in an area with lots of renovation and This beautiful renovated nestled on a spacious lot is not a drive by. The building is surrounded by renovations and new construction, The building consists of 5 bedrooms. 3 bedrooms in the front unit and 2 bedrooms for the back unit. Both units have central air and heat. There are just too many things to list. Rent one unit and live in the other. It is also great rental property. Schedule an appointment and come experience the true beauty. .

17. 2026-05-04
    price $215,000 550-char remark

    Show marketing remark (553 chars)

    This well kept duplex is nestled neatly on a spacious lot located in an area with lots of renovation and This beautiful renovated nestled on a spacious lot is not a drive by. The building is surrounded by renovations and new construction, The building consists of 5 bedrooms. 3 bedrooms in the front unit and 2 bedrooms for the back unit. Both units have central air and heat. There are just too many things to list. Rent one unit and live in the other. It is also great rental property. Schedule an appointment and come experience the true beauty. .

18. 2026-05-04
    price $215,000 553-char remark

    Show marketing remark (553 chars)

    This well kept duplex is nestled neatly on a spacious lot located in an area with lots of renovation and This beautiful renovated nestled on a spacious lot is not a drive by. The building is surrounded by renovations and new construction, The building consists of 5 bedrooms. 3 bedrooms in the front unit and 2 bedrooms for the back unit. Both units have central air and heat. There are just too many things to list. Rent one unit and live in the other. It is also great rental property. Schedule an appointment and come experience the true beauty. .

19. 2026-02-25
    listed $220,000 Active 550-char remark

    Show marketing remark (553 chars)

    This well kept duplex is nestled neatly on a spacious lot located in an area with lots of renovation and This beautiful renovated nestled on a spacious lot is not a drive by. The building is surrounded by renovations and new construction, The building consists of 5 bedrooms. 3 bedrooms in the front unit and 2 bedrooms for the back unit. Both units have central air and heat. There are just too many things to list. Rent one unit and live in the other. It is also great rental property. Schedule an appointment and come experience the true beauty. .

20. 2026-02-25
    listed $220,000 Active 553-char remark

    Show marketing remark (553 chars)

    This well kept duplex is nestled neatly on a spacious lot located in an area with lots of renovation and This beautiful renovated nestled on a spacious lot is not a drive by. The building is surrounded by renovations and new construction, The building consists of 5 bedrooms. 3 bedrooms in the front unit and 2 bedrooms for the back unit. Both units have central air and heat. There are just too many things to list. Rent one unit and live in the other. It is also great rental property. Schedule an appointment and come experience the true beauty. .

21. 2023-01-25
    listed $210,000
22. 2022-08-19
    listed $230,000
23. 2022-04-26
    listed $210,000
24. 2008-06-20
    soldstatus $20,000
25. 2004-11-19
    soldstatus $70,000
26. 2004-10-16
    listed $75,000
27. 2004-10-16
    listed $75,000
28. 2001-12-13
    soldstatus $37,400
29. 2001-08-05
    listed $39,900
30. 2001-08-05
    listed $39,900

ⓘ 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: $2,093 · $174/mo
• Projected year-2 tax: $2,093 · $174/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 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,980
• − Mortgage interest: −$10,643
• − Property taxes: −$2,093
• − Insurance: −$1,748
• − Repairs & maintenance: −$2,798
• − Management: −$2,798
• − Depreciation: −$5,527
• Taxable income: $9,372
• Est. tax owed @ 24.0%: −$2,249
• After-tax cash flow: $9,588/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): 25,652
• Household income: $45,764
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1988.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 30% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 5% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 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: ▼ -177.22%
• Current HPI: 184.6061
• Rent YoY: ▲ 2.49%
• 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

+401.3% since first listed

16 events — show timeline

• 2026-05-13 Price Changed $200,000 AcadianaMLS
• 2026-05-13 Price Changed $200,000 GSREIN
• 2026-05-04 Price Changed $215,000 AcadianaMLS
• 2026-05-04 Price Changed $215,000 GSREIN
• 2026-02-25 Listed $220,000 GSREIN
• 2026-02-25 Listed $220,000 AcadianaMLS
• 2023-01-25 Listed $210,000 AcadianaMLS
• 2022-08-19 Listed $230,000 AcadianaMLS
• 2022-04-26 Listed $210,000 AcadianaMLS
• 2008-06-20 Sold (Public Records) $20,000 Public Records
• 2004-11-19 Sold (MLS) $70,000 GSREIN
• 2004-10-16 Listed $75,000 GSREIN
• 2004-10-16 Listed $75,000 AcadianaMLS
• 2001-12-13 Sold (MLS) $37,400 GSREIN
• 2001-08-05 Listed $39,900 AcadianaMLS
• 2001-08-05 Listed $39,900 GSREIN

Property tax history

+5.0%/yr

Latest (2026): $2,093 · +1.1% YoY. Source: county tax records.