2031 33 Arts St · New Orleans, LA 70117

$175,000

6 bd · 2.0 ba · 2,650 sqft · MultiFamily · 2 Days on market

Built 1950 Est $344k · 49% under ↓ 33% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Investment opportunity in the St. Roch neighborhood. This duplex features 6 bedrooms, 2 bathrooms, high ceilings, and a backyard. With renovations, this is the perfect opportunity for investors or homeowners looking for rental income assistance ! X-Flood Zone. Owners are motivated to sell.

Key facts

• 3 parking spots
• Built 1950
• Listed 2 days

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking: Driveway; Off-street parking; Three or more parking spaces
• Security:
• Utilities: Public water; Public sewer
• Home design: Single-story building; Raised foundation; Wood siding construction
• Construction: Shingle roof; Built with wood siding; Raised foundation; Average condition
• Exterior features: Porch; City lot; Rectangular lot; Lot dimensions approximately 42 x 120

Interior

• Kitchen:
• Bedrooms: Two-unit property (2 total units)
• Flooring:
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Window unit heating; Central air conditioning; Window unit air conditioning
• Interior features: Porch
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $660/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Cap rate 15.8% 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; 1 comparable units currently listed for rent nearby; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,286/mo this rent would consume 86% 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 $5k 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 $49k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,000

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 1950 — 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: 1.88% ✓
• Cap rate: 15.80%
• Cash-on-cash: 33.96%
• DSCR: 2.51
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $344,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1612 14 Saint Roch Ave	0.35mi	6/4.0	2,660 (+0%)	6mo	$500,000	$188	70
2530 32 N Galvez St	0.04mi	5/3.0 (-1)	2,402 (-9%)	8mo	$214,900	$89	67
2522 24 N Prieur St	0.13mi	6/2.0	2,288 (-14%)	16mo	$143,000	$63	58
2535-37 N Rampart St	0.74mi	5/2.0 (-1)	2,700 (+2%)	7mo	$350,000	$130	52
1741 43 Marigny St	0.59mi	5/2.5 (-1)	2,950 (+11%)	1mo	$205,000	$69	46
2825-27 Spain St	0.66mi	6/4.0	2,496 (-6%)	7mo	$385,000	$154	46
2009 11 Montegut St	0.52mi	6/2.0	2,256 (-15%)	7mo	$37,500	$17	45
2024 26 St Anthony St	0.72mi	6/4.0	2,482 (-6%)	6mo	$350,000	$141	42
1740 Louisa St	0.67mi	5/5.0 (-1)	2,500 (-6%)	2mo	$340,000	$136	41
1825 N Claiborne Ave	0.74mi	6/2.0	2,354 (-11%)	10mo	$64,000	$27	38
3049-51 Laussat Pl	0.74mi	6/5.0	2,532 (-4%)	11mo	$310,000	$122	37
1917-19 N Derbigny St	0.66mi	6/4.0	2,417 (-9%)	16mo	$390,000	$161	33

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: 26.8%
• Equity multiple: 2.10×
• Total profit: $54,133
• Equity at exit: $26,093

10-year hold

• IRR: 34.1%
• Equity multiple: 4.04×
• Total profit: $148,955
• Equity at exit: $15,131

Cash invested: $49,000 (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 70117

• Rents YoY: 2.5%
• Active inventory: 581
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $3,286 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$690
• Net cashflow: $1,320

Break-even live

Break-even rent $1,615

Max offer price $175,000

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,286
Total (2 units)			$3,286

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$8,133	$5.14	3d	2	0.83mi

Listing history 3 events

1. 2026-06-18
   days on market $175,000 Active 2 DOM
2. 2026-06-16
   remarks 290-char remark
3. 2026-06-16
   listed $175,000 Active 1 DOM

ⓘ 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 · 22 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: $39,432
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$1,672
• − Repairs & maintenance: −$3,155
• − Management: −$3,155
• − Depreciation: −$5,091
• Taxable income: $13,932
• Est. tax owed @ 24.0%: −$3,344
• After-tax cash flow: $12,498/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

-32.7% since first listed

4 events — show timeline

• 2026-06-16 Listed $175,000 GSREIN
• 2025-05-12 Price Changed $199,000 GSREIN
• 2025-02-13 Price Changed $210,000 GSREIN
• 2021-08-05 Price Changed $259,900 GSREIN