3221 33 Upperline St · New Orleans, LA 70125

$389,000

6 bd · 6.9 ba · 4,016 sqft · MultiFamily · 46 Days on market

Built 1940 Fair condition 4,325 sqft lot $97/sqft · 17% below area Est $468k · 17% under ↓ 3% since listing

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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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Livability +4.0/5.0
• Condition / age +2.8/5.0
• Rent growth +2.7/5.0
• 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

INCOME-PRODUCING triplex at an AMAZING price in Broadmoor awaits you!...Two upstairs 2 bedroom, 1 bathroom units with ORIGINAL wood floors and STUNNING crown molding throughout feature LARGE living rooms, separate dining and BRAND NEW AC units...One side offers a SPACIOUS kitchen with a PRIVATE entrance, while the other has a BONUS breakfast area in the kitchen...The downstairs 3 bedroom, 2 bathroom residence showcases a LARGE living room, separate dining room, plus a spacious kitchen with more room for dining...All bedrooms are generously sized, including the en suite primary and the BONUS sunroom. GREAT location in the middle of the city, near downtown, with easy access to I-10. SCHEDULE your PRIVATE viewing today!!!

Key facts

• Bonus breakfast area
• Spacious kitchen
• Original wood floors

Tags

• ORIGINAL WOOD FLOORS
• CROWN MOLDING
• LARGE LIVING ROOMS
• PRIVATE ENTRANCE
• BONUS BREAKFAST AREA
• SPACIOUS KITCHEN

Property features AI

Finance

• Other: Lot is an irregular city lot (approx. 50 x 90/83, ~0.0993 acres)
• Financial info: 3 total units; Unit 3223 — Rent $1,500 (actual $1,500); Unit 23A — Rent $1,980 (actual $1,980); Unit 3221 — Rent $1,480 (actual $1,480); Tenants pay electricity and gas; owner pays water

Exterior

• Parking: Driveway and off-street parking
• Utilities: Public water; Public sewer
• Home design: 2-story property
• Construction: Wood siding exterior; Shingle roof; Slab foundation; Built condition: Average
• Exterior features: Front porch

Interior

• Bedrooms: Unit 3223 — 2 bedrooms; Unit 23A — 3 bedrooms; Unit 3221 — 2 bedrooms
• Bathrooms: Total of 4 full bathrooms across units; Unit 3223 — 1 full bathroom; Unit 23A — 2 full bathrooms; Unit 3221 — 1 full bathroom
• Heating & cooling: Central heating; Window-unit heating; Central air conditioning; Window-unit air conditioning
• Interior features: Screens on windows
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 1×3bd/2ba units multifamily listed at $389k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $424/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $389k).
• Recommended offer: $377k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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; 219 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $5,553/mo this rent would consume 109% 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 $3k of loan paydown is wiped out by about $12k 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 46 days — a 3% lower offer ($377k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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 $427/mo; built in 1940 — 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 $377,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.43% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.71%
• DSCR: 1.83
• GRM: 5.8

CMA / ARV

• ARV (median comp): $468,246
• List price: $389,000
• Delta: -16.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4521 23 S Tonti St	0.29mi	6/5.0	3,800 (-5%)	11mo	$371,000	$98	61
4536 38 S Miro St	0.19mi	5/4.0 (-1)	3,746 (-7%)	4mo	$450,000	$120	60
4236 Jena St	0.43mi	7/5.5 (+1)	3,893 (-3%)	5mo	$385,000	$99	60
5524 S Galvez St	0.26mi	6/4.0	3,522 (-12%)	8mo	$435,000	$124	49
3024 26 Napoleon Ave	0.19mi	6/4.0	3,624 (-10%)	23mo	$580,000	$160	44
3305-07 Louisiana Avenue Pkwy	0.50mi	6/—	3,612 (-10%)	23mo	$325,000	$90	41
3305 07 Louisiana Avenue Pkwy	0.50mi	6/5.0	3,612 (-10%)	23mo	$325,000	$90	33
2426-28 Joseph St	0.49mi	7/4.0 (+1)	3,655 (-9%)	20mo	$530,000	$145	29
3000 Calhoun St	0.51mi	5/3.0 (-1)	3,497 (-13%)	12mo	$650,000	$186	24

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: 1.5%
• Equity multiple: 1.05×
• Total profit: $5,925
• Equity at exit: $58,001

10-year hold

• IRR: 8.4%
• Equity multiple: 1.57×
• Total profit: $62,259
• Equity at exit: $33,634

Cash invested: $108,920 (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: 219
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $5,553 high
• Mortgage (P&I): −$2,040
• Tax est. 1.5%: −$486 /mo · $5,835/yr
• Insurance: −$162
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,166
• Net cashflow: $1,272

Break-even live

Break-even rent $3,943

Max offer price $389,000

Occupancy floor 72%

Sensitivity live

Price	-10% $1,541	-5% $1,406	+0% $1,272	+5% $1,138	+10% $1,003
Rent	-10% $833	-5% $1,053	+0% $1,272	+5% $1,491	+10% $1,711
Rate	-1.0pp $1,468	-0.5pp $1,371	base $1,272	+0.5pp $1,171	+1.0pp $1,069

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,616
1× unit	3	2	$1,937
Total (3 units)			$5,553

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3112 Upperline St New Orleans, LA	5.0	3.5	2800	$3,650	$1.30	25d	1	0.07mi
2808 Calhoun St New Orleans, LA	6.0	4.0	3037	$7,500	$2.47	22d	1	0.51mi
1519 Pine St New Orleans, LA	5.0	3.0	3000	$4,000	$1.33	25d	1	0.87mi
1927 Napoleon Ave New Orleans, LA	5.0	2.0	3350	$3,600	$1.07	45d	1	0.93mi
7211 Saint Charles Ave New Orleans, LA	5.0	3.0	2800	$2,999	$1.07	45d	1	1.26mi

Listing history 28 events

1. 2026-06-21
   days on market $389,000 Active 46 DOM
2. 2026-06-18
   days on market $389,000 Active 43 DOM
3. 2026-06-17
   days on market $389,000 Active 42 DOM
4. 2026-06-16
   days on market $389,000 Active 41 DOM
5. 2026-06-15
   days on market $389,000 Active 40 DOM
6. 2026-06-13
   days on market $389,000 Active 38 DOM
7. 2026-06-10
   days on market $389,000 Active 35 DOM
8. 2026-06-09
   days on market $389,000 Active 34 DOM
9. 2026-06-08
   days on market $389,000 Active 33 DOM
10. 2026-06-07
    days on market $389,000 Active 32 DOM
11. 2026-06-05
    days on market $389,000 Active 29 DOM
12. 2026-06-03
    days on market $389,000 Active 28 DOM
13. 2026-06-02
    days on market $389,000 Active 27 DOM
14. 2026-06-01
    days on market $389,000 Active 26 DOM
15. 2026-05-31
    days on market $389,000 Active 25 DOM
16. 2026-05-06
    listed $389,000 Active 728-char remark

    Show marketing remark (728 chars)

    INCOME-PRODUCING triplex at an AMAZING price in Broadmoor awaits you!...Two upstairs 2 bedroom, 1 bathroom units with ORIGINAL wood floors and STUNNING crown molding throughout feature LARGE living rooms, separate dining and BRAND NEW AC units...One side offers a SPACIOUS kitchen with a PRIVATE entrance, while the other has a BONUS breakfast area in the kitchen...The downstairs 3 bedroom, 2 bathroom residence showcases a LARGE living room, separate dining room, plus a spacious kitchen with more room for dining...All bedrooms are generously sized, including the en suite primary and the BONUS sunroom. GREAT location in the middle of the city, near downtown, with easy access to I-10. SCHEDULE your PRIVATE viewing today!!!

17. 2026-05-06
    listed $389,000 Active 741-char remark

    Show marketing remark (728 chars)

    INCOME-PRODUCING triplex at an AMAZING price in Broadmoor awaits you!...Two upstairs 2 bedroom, 1 bathroom units with ORIGINAL wood floors and STUNNING crown molding throughout feature LARGE living rooms, separate dining and BRAND NEW AC units...One side offers a SPACIOUS kitchen with a PRIVATE entrance, while the other has a BONUS breakfast area in the kitchen...The downstairs 3 bedroom, 2 bathroom residence showcases a LARGE living room, separate dining room, plus a spacious kitchen with more room for dining...All bedrooms are generously sized, including the en suite primary and the BONUS sunroom. GREAT location in the middle of the city, near downtown, with easy access to I-10. SCHEDULE your PRIVATE viewing today!!!

18. 2026-01-12
    listed $399,000 Active
19. 2025-08-27
    listed $399,000 Active
20. 2024-09-27
    price $415,000
21. 2024-06-05
    price $425,000
22. 2024-05-23
    price $429,000
23. 2024-04-30
    price $440,000
24. 2024-04-08
    price $448,000
25. 2021-05-28
    soldstatus $389,000 Closed
26. 2021-04-12
    status Pending
27. 2021-04-09
    price $389,000
28. 2021-02-19
    listed $399,000 Active

ⓘ 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 AE · 78% 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: $66,636
• − Mortgage interest: −$21,790
• − Property taxes: −$5,835
• − Insurance: −$7,064
• − Repairs & maintenance: −$5,331
• − Management: −$5,331
• − Depreciation: −$11,316
• Taxable income: $9,969
• Est. tax owed @ 24.0%: −$2,393
• After-tax cash flow: $12,872/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

Fair 55/100 Moderate rehab

This multi-family home requires moderate renovations to improve its condition and increase its resale and rental value.

Repairs flagged

• Moderate Kitchen cabinets — Worn appearance and need for cleaning.
• Major Bathroom fixtures — Outdated and in poor condition.
• Moderate Exterior siding — Discoloration and wear visible.

Value-add opportunities

• Resale Replace outdated kitchen appliances and counters — Modernizing the kitchen will attract more buyers.
• Resale Update bathroom fixtures and paint — Improving the bathrooms will enhance the home's appeal.
• Resale Paint exterior siding and trim — Fresh paint will improve curb appeal and home value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance and need for cleaning.	Moderate	$3,000–15,000
Bathroom fixtures · Outdated and in poor condition.	Major	$15,000–50,000
Exterior siding · Discoloration and wear visible.	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$21,000–80,000

Value-add ROI direction

• Resale Replace outdated kitchen appliances and counters — Modernizing the kitchen will attract more buyers. ↑
• Resale Update bathroom fixtures and paint — Improving the bathrooms will enhance the home's appeal. ↑
• Resale Paint exterior siding and trim — Fresh paint will improve curb appeal and home value. ↑

ⓘ 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): 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

-2.5% since first listed

13 events — show timeline

• 2026-05-06 Listed $389,000 GSREIN
• 2026-05-06 Listed $389,000 AcadianaMLS
• 2026-01-12 Listed $399,000 AcadianaMLS
• 2025-08-27 Listed $399,000 AcadianaMLS
• 2024-09-27 Price Changed $415,000 GSREIN
• 2024-06-05 Price Changed $425,000 GSREIN
• 2024-05-23 Price Changed $429,000 GSREIN
• 2024-04-30 Price Changed $440,000 GSREIN
• 2024-04-08 Price Changed $448,000 GSREIN
• 2021-05-28 Sold (MLS) $389,000 GSREIN
• 2021-04-12 Pending — GSREIN
• 2021-04-09 Price Changed $389,000 GSREIN
• 2021-02-19 Listed $399,000 GSREIN