2225 27 Baronne St · New Orleans, LA 70113

$375,000

4 bd · 2.0 ba · 3,024 sqft · MultiFamily public records · 357 Days on market

Built 1900 $124/sqft · 21% below area Est $447k · 16% under ↓ 6% 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 +26.5/30.0
• ARV discount +14.7/15.0
• Appreciation +10.0/10.0
• DSCR +9.0/10.0
• 1% rule +6.8/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

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

Uptown Investor Alert - Motivated Seller open to discounted package pricing for buyers acquiring all three properties. Classic Camelback Double in Historic Central City. Packed with historic charm and strong income potential, this classic New Orleans camelback-style double is a rare opportunity. Timeless architecture, it's the perfect canvas for savvy investors to restore and maximize value. The first floor features a traditional shotgun layout with the kitchen located at the rear, while the second floor offers two independent bedrooms and a full bath. Soaring ceilings and wood floors add timeless appeal to both units. Each residence includes a private, fenced yard and is separately metered--tenants are responsible for their own water, electric, and gas. Conveniently located just blocks from St. Charles Avenue, with easy access to the streetcar line, parade routes, Downtown, the French Quarter, and vibrant Uptown. Currently occupied by long-term tenants. Zoned HU-RM1--Historic Urban Multi-Family Residential District. Needs some work. Two Adjacent properties for sale as well. Lots of potential here. Start your investment portfolio today and buy all three properties! See 2229-31 Baronne St., 2233-35 Baronne St. Desirable Flood Zone X. All three properties may be approved for Federal and State Historic Tax Credits, to be verified by Buyer. See attached MLS Documents for more information.

Key facts

• Income potential
• Historic charm
• Private fenced yard

Tags

• HISTORIC CHARM
• INCOME POTENTIAL
• CAMELBACK STYLE DOUBLE
• TRADITIONAL SHOTGUN LAYOUT
• PRIVATE FENCED YARD
• SEPARATELY METERED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $922 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• Recommended offer: $330k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 rising fast (+6.0%/yr); 137 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $4,415/mo this rent would consume 135% of the median local household income ($39k/yr) (locally 714% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $40k of equity ($3k loan paydown + $38k appreciation (10.0% local appreciation)).
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 6.0% rent growth), your $105k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 357 days — a 12% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $330,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 357 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.18% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.30%
• DSCR: 1.50
• GRM: 7.1

CMA / ARV

• ARV (median comp): $446,767
• List price: $375,000
• Delta: -16.06%
• 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
1921 23 Josephine St	0.15mi	4/3.0	2,900 (-4%)	7mo	$199,900	$69	76
1113 15 Thalia St	0.72mi	4/4.0	3,023 (-0%)	3mo	$1,360,000	$450	56
2349 51 Laurel St	0.72mi	4/2.0	2,923 (-3%)	15mo	$579,000	$198	48
1226 28 Carondelet St	0.60mi	4/4.0	2,730 (-10%)	1mo	$200,000	$73	47
1370-72 Magazine St	0.70mi	5/5.5 (+1)	2,944 (-3%)	3mo	$843,000	$286	42
2909 1st St	0.68mi	5/3.0 (+1)	2,654 (-12%)	3mo	$75,000	$28	36
1536-B-C Saint Mary St	0.67mi	4/4.5	3,455 (+14%)	13mo	$818,000	$237	25
1005 07 First St	0.66mi	5/4.0 (+1)	3,470 (+15%)	13mo	$680,000	$196	21
1201 03 Josephine St	0.53mi	5/4.0 (+1)	2,607 (-14%)	23mo	$599,000	$230	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 5.98% rent growth · sell at horizon

5-year hold

• IRR: 33.3%
• Equity multiple: 3.63×
• Total profit: $276,667
• Equity at exit: $337,830

10-year hold

• IRR: 29.8%
• Equity multiple: 8.62×
• Total profit: $799,836
• Equity at exit: $728,543

Cash invested: $105,000 (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 70113

• Rents YoY: 6.0%
• Active inventory: 137
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $4,415 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$376 /mo · $4,514/yr
• Insurance: −$156
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$927
• Net cashflow: $922

Break-even live

Break-even rent $3,247

Max offer price $375,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,414
Total (2 units)			$4,415

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2625 Baronne St Unit 1 New Orleans, LA	3.0	1.5	2100	$2,600	$1.24	44d	1	0.27mi
1435 Euterpe St New Orleans, LA	4.0	3.5	2825	$16,000	$5.66	16d	1	0.51mi
2028 Magazine St New Orleans, LA	3.0	2.5	2600	$7,000	$2.69	17d	1	0.61mi
1021 1st St New Orleans, LA	4.0	4.0	2621	$4,500	$1.72	3d	1	0.62mi
3314 Carondelet St Unit A New Orleans, LA	3.0	2.0	3500	$3,000	$0.86	23d	1	0.66mi
822 Howard Ave Unit 1272354P New Orleans, LA	1.0–5.0	1.0–4.0	1749	$9,250	$5.29	1d	3	0.76mi
1229 Annunciation St New Orleans, LA	3.0	3.0	3517	$5,500	$1.56	3d	1	0.85mi
2600 Peniston St New Orleans, LA	4.0	2.0	2342	$3,500	$1.49	44d	1	0.93mi
3200 Washington Ave Unit NA New Orleans, LA	4.0	3.0	2490	$3,400	$1.37	3d	1	0.97mi
1050 Annunciation St Unit 1272355P New Orleans, LA	2.0–5.0	2.0–4.0	1544	$3,489	$2.26	3d	3	0.97mi
4027 S Derbigny St New Orleans, LA	3.0	2.0	2950	$1,950	$0.66	23d	1	1.09mi
419 Carondelet St Unit PHB New Orleans, LA	3.0	2.5	2546	$5,700	$2.24	3d	1	1.19mi
1927 Napoleon Ave New Orleans, LA	5.0	2.0	3350	$3,600	$1.07	44d	1	1.22mi
1907 Napoleon Ave New Orleans, LA	4.0	2.0	2500	$2,800	$1.12	17d	1	1.22mi
2308 Jena St New Orleans, LA	3.0	2.5	2550	$3,300	$1.29	44d	1	1.29mi
800 Gravier St Unit 1272312P New Orleans, LA	2.0–4.0	2.0–4.0	1673	$6,169	$3.69	14d	2	1.31mi
431 Gravier St Ste 4 New Orleans, LA	3.0	2.0	2100	$3,700	$1.76	44d	1	1.37mi
4442 S Johnson St Unit 4442 New Orleans, LA	4.0	4.5	3000	$4,500	$1.50	12d	1	1.42mi
3350 Jena St New Orleans, LA	3.0	2.5	2200	$2,500	$1.14	44d	1	1.44mi

Listing history 18 events

1. 2026-06-18
   days on market $375,000 Active 357 DOM
2. 2026-06-17
   days on market $375,000 Active 356 DOM
3. 2026-06-16
   days on market $375,000 Active 355 DOM
4. 2026-06-15
   days on market $375,000 Active 354 DOM
5. 2026-06-13
   days on market $375,000 Active 352 DOM
6. 2026-06-10
   days on market $375,000 Active 349 DOM
7. 2026-06-09
   days on market $375,000 Active 348 DOM
8. 2026-06-08
   days on market $375,000 Active 347 DOM
9. 2026-06-07
   days on market $375,000 Active 346 DOM
10. 2026-06-05
    days on market $375,000 Active 343 DOM
11. 2026-06-03
    days on market $375,000 Active 342 DOM
12. 2026-06-02
    days on market $375,000 Active 341 DOM
13. 2026-06-01
    days on market $375,000 Active 340 DOM
14. 2026-05-31
    days on market $375,000 Active 339 DOM
15. 2025-10-07
    price $375,000 1407-char remark

    Show marketing remark (1432 chars)

    Uptown Investor Alert – Motivated Seller open to discounted package pricing for buyers acquiring all three properties. Classic Camelback Double in Historic Central City. Packed with historic charm and strong income potential, this classic New Orleans camelback-style double is a rare opportunity. Timeless architecture, it’s the perfect canvas for savvy investors to restore and maximize value. The first floor features a traditional shotgun layout with the kitchen located at the rear, while the second floor offers two independent bedrooms and a full bath. Soaring ceilings and wood floors add timeless appeal to both units. Each residence includes a private, fenced yard and is separately metered—tenants are responsible for their own water, electric, and gas. Conveniently located just blocks from St. Charles Avenue, with easy access to the streetcar line, parade routes, Downtown, the French Quarter, and vibrant Uptown. Currently occupied by long-term tenants. Zoned HU-RM1—Historic Urban Multi-Family Residential District. Needs some work. Two Adjacent properties for sale as well. Lots of potential here. Start your investment portfolio today and buy all three properties! See 2229-31 Baronne St. , 2233-35 Baronne St. Desirable Flood Zone X. All three properties may be approved for Federal and State Historic Tax Credits, to be verified by Buyer. See attached MLS Documents for more information.

16. 2025-10-07
    price $375,000 1432-char remark

    Show marketing remark (1432 chars)

    Uptown Investor Alert – Motivated Seller open to discounted package pricing for buyers acquiring all three properties. Classic Camelback Double in Historic Central City. Packed with historic charm and strong income potential, this classic New Orleans camelback-style double is a rare opportunity. Timeless architecture, it’s the perfect canvas for savvy investors to restore and maximize value. The first floor features a traditional shotgun layout with the kitchen located at the rear, while the second floor offers two independent bedrooms and a full bath. Soaring ceilings and wood floors add timeless appeal to both units. Each residence includes a private, fenced yard and is separately metered—tenants are responsible for their own water, electric, and gas. Conveniently located just blocks from St. Charles Avenue, with easy access to the streetcar line, parade routes, Downtown, the French Quarter, and vibrant Uptown. Currently occupied by long-term tenants. Zoned HU-RM1—Historic Urban Multi-Family Residential District. Needs some work. Two Adjacent properties for sale as well. Lots of potential here. Start your investment portfolio today and buy all three properties! See 2229-31 Baronne St. , 2233-35 Baronne St. Desirable Flood Zone X. All three properties may be approved for Federal and State Historic Tax Credits, to be verified by Buyer. See attached MLS Documents for more information.

17. 2025-06-26
    listed $400,000 Active 1407-char remark

    Show marketing remark (1432 chars)

    Uptown Investor Alert – Motivated Seller open to discounted package pricing for buyers acquiring all three properties. Classic Camelback Double in Historic Central City. Packed with historic charm and strong income potential, this classic New Orleans camelback-style double is a rare opportunity. Timeless architecture, it’s the perfect canvas for savvy investors to restore and maximize value. The first floor features a traditional shotgun layout with the kitchen located at the rear, while the second floor offers two independent bedrooms and a full bath. Soaring ceilings and wood floors add timeless appeal to both units. Each residence includes a private, fenced yard and is separately metered—tenants are responsible for their own water, electric, and gas. Conveniently located just blocks from St. Charles Avenue, with easy access to the streetcar line, parade routes, Downtown, the French Quarter, and vibrant Uptown. Currently occupied by long-term tenants. Zoned HU-RM1—Historic Urban Multi-Family Residential District. Needs some work. Two Adjacent properties for sale as well. Lots of potential here. Start your investment portfolio today and buy all three properties! See 2229-31 Baronne St. , 2233-35 Baronne St. Desirable Flood Zone X. All three properties may be approved for Federal and State Historic Tax Credits, to be verified by Buyer. See attached MLS Documents for more information.

18. 2025-06-26
    listed $400,000 Active 1432-char remark

    Show marketing remark (1432 chars)

    Uptown Investor Alert – Motivated Seller open to discounted package pricing for buyers acquiring all three properties. Classic Camelback Double in Historic Central City. Packed with historic charm and strong income potential, this classic New Orleans camelback-style double is a rare opportunity. Timeless architecture, it’s the perfect canvas for savvy investors to restore and maximize value. The first floor features a traditional shotgun layout with the kitchen located at the rear, while the second floor offers two independent bedrooms and a full bath. Soaring ceilings and wood floors add timeless appeal to both units. Each residence includes a private, fenced yard and is separately metered—tenants are responsible for their own water, electric, and gas. Conveniently located just blocks from St. Charles Avenue, with easy access to the streetcar line, parade routes, Downtown, the French Quarter, and vibrant Uptown. Currently occupied by long-term tenants. Zoned HU-RM1—Historic Urban Multi-Family Residential District. Needs some work. Two Adjacent properties for sale as well. Lots of potential here. Start your investment portfolio today and buy all three properties! See 2229-31 Baronne St. , 2233-35 Baronne St. Desirable Flood Zone X. All three properties may be approved for Federal and State Historic Tax Credits, to be verified by Buyer. See attached MLS Documents for more information.

ⓘ 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: $4,514 · $376/mo
• Projected year-2 tax: $4,514 · $376/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 7/10 Severe FEMA zone X · 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,980
• − Mortgage interest: −$21,006
• − Property taxes: −$4,514
• − Insurance: −$2,672
• − Repairs & maintenance: −$4,238
• − Management: −$4,238
• − Depreciation: −$10,909
• Taxable income: $5,402
• Est. tax owed @ 24.0%: −$1,296
• After-tax cash flow: $9,773/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): 9,387
• Household income: $39,333
• Rent vs Own: 75.4% rent · 24.6% own
• Severe rent burden: 714.0

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 0.57)
• Race & ethnicity: Black 61% White 20% Hispanic / Latino 13% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 2% Portuguese 1% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1% Vietnamese 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: ▲ 65.92%
• Current HPI: 229.3968
• Rent YoY: ▲ 5.98%
• 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

-6.2% since first listed

4 events — show timeline

• 2025-10-07 Price Changed $375,000 AcadianaMLS
• 2025-10-07 Price Changed $375,000 GSREIN
• 2025-06-26 Listed $400,000 GSREIN
• 2025-06-26 Listed $400,000 AcadianaMLS

Property tax history

+7.9%/yr

Latest (2026): $4,514 · +1.1% YoY. Source: county tax records.