1603 05 Gentilly Blvd · New Orleans, LA 70119

$289,000

4 bd · 2.0 ba · 1,680 sqft · MultiFamily public records · 122 Days on market

Built 2010 $172/sqft · 15% below area Est $342k · 15% under

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Why this score? — see what drove the C 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 +22.7/30.0
• ARV discount +14.5/15.0
• DSCR +7.3/10.0
• 1% rule +4.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• 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

Fantastic duplex on a corner lot, just TWO blocks to the Fair Grounds! This duplex features 1 bedroom/1 bathroom in each unit and is the perfect location for Jazz Fest! Bring your ideas, this property won't last long!

Key facts

• Corner lot
• Built 2010
• Listed 122 days

Tags

• CORNER LOT
• TWO BLOCKS TO THE FAIR GROUNDS

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $289k.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive. Per door: $214/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $285k (1.4% below list).
• Recommended offer: $254k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 soft (-0.2%/yr); 381 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,850/mo this rent would consume 64% of the median local household income ($53k/yr) (locally 3381% 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

• It's been on market 122 days — a 12% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $36k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $289k implies a 789% 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 $254,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 0.99% ✗
• Cap rate: 8.35%
• Cash-on-cash: 7.34%
• DSCR: 1.33
• GRM: 8.5

CMA / ARV

• ARV (median comp): $341,794
• List price: $289,000
• Delta: -15.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2520 22 D'abadie St	0.24mi	4/2.0	1,632 (-3%)	3mo	$278,600	$171	82
2835-37 Maurepas St	0.06mi	4/2.0	1,464 (-13%)	1mo	$311,000	$212	75
1737 39 Duels St	0.62mi	4/2.0	1,692 (+1%)	2mo	$200,000	$118	68
1024 26 N Rocheblave St	0.10mi	4/5.0	1,826 (+9%)	6mo	$380,000	$208	64
2816 18 Republic St	0.61mi	4/2.0	1,700 (+1%)	9mo	$200,000	$118	62
2118 20 Onzaga St	0.54mi	4/2.0	1,526 (-9%)	1mo	$182,000	$119	59
1917-19 N Dorgenois St	0.59mi	4/2.0	1,775 (+6%)	7mo	$150,000	$85	57
2612-2614 St. Philip St	0.58mi	4/2.0	1,517 (-10%)	3mo	$299,000	$197	54
2649 51 Bruxelles St	0.50mi	4/2.0	1,881 (+12%)	6mo	$142,000	$75	52
2643 45 Dumaine St	0.61mi	4/2.0	1,479 (-12%)	3mo	$298,000	$201	49
2828 30 St Ann St	0.67mi	4/3.5	1,534 (-9%)	5mo	$265,000	$173	44
2615 26 Saint Ann St	0.69mi	4/2.0	1,900 (+13%)	5mo	$125,000	$66	41

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.65×
• Total profit: $-27,948
• Equity at exit: $43,091

10-year hold

• IRR: -4.7%
• Equity multiple: 0.73×
• Total profit: $-21,724
• Equity at exit: $24,987

Cash invested: $80,920 (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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $2,850 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$120 /mo · $1,446/yr
• Insurance: −$120
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$598
• Net cashflow: $429

Break-even live

Break-even rent $2,307

Max offer price $289,000

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,850
Total (2 units)			$2,850

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1466 N White St New Orleans, LA	3.0	1.5	1500	$2,250	$1.50	3d	1	0.12mi
1525 N Broad St New Orleans, LA	3.0	1.0	1100	$1,600	$1.45	23d	1	0.14mi
2664 Lepage St New Orleans, LA	3.0	2.0	1750	$2,725	$1.56	43d	1	0.16mi
2331 Columbus St New Orleans, LA	3.0	1.0	1976	$1,850	$0.94	23d	1	0.38mi
2329 Laharpe St New Orleans, LA	3.0	1.0	1250	$1,000	$0.80	19d	1	0.38mi
1818 Paul Morphy St Unit B New Orleans, LA	3.0	2.0	1065	$1,800	$1.69	23d	1	0.38mi
1735 N Tonti St New Orleans, LA	3.0	1.0	1197	$1,650	$1.38	23d	1	0.48mi
2731 Saint Philip St Unit 2733 New Orleans, LA	4.0	2.0	2000	$2,600	$1.30	23d	1	0.48mi
2517 Ursulines Ave New Orleans, LA	3.0	2.0	1136	$1,950	$1.72	23d	1	0.51mi
1901 Gentilly Blvd New Orleans, LA	3.0	2.5	2205	$4,000	$1.81	43d	1	0.55mi
3702 Trafalgar St New Orleans, LA	3.0	2.0	1428	$2,350	$1.65	15d	1	0.57mi
824 N Dupre St New Orleans, LA	3.0	2.0	1315	$2,250	$1.71	16d	1	0.59mi
2310 George Nick Connor Dr New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	23d	1	0.61mi
2910 Bruxelles St New Orleans, LA	3.0	2.0	1074	$1,600	$1.49	3d	1	0.63mi
3443 Esplanade Ave New Orleans, LA	3.0	1.0–2.0	997	$2,500	$2.51	2d	30	0.64mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	43d	1	0.71mi
3021 Republic St New Orleans, LA	4.0	2.0	1125	$2,200	$1.96	23d	1	0.76mi
2129 Dumaine St New Orleans, LA	3.0	2.0	1226	$1,850	$1.51	3d	1	0.80mi
2338 Annette St Unit 1 New Orleans, LA	3.0	1.0	1150	$1,400	$1.22	19d	1	0.85mi
1929 Dumaine St New Orleans, LA	3.0	1.0	1293	$1,500	$1.16	3d	1	0.89mi
1035 N Derbigny St New Orleans, LA	3.0	1.0	1075	$1,399	$1.30	23d	1	0.92mi
1472 N Claiborne Ave New Orleans, LA	3.0	1.0	1312	$1,900	$1.45	15d	1	0.92mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	15d	1	0.93mi
2817 Annette St New Orleans, LA	3.0	1.0	1100	$1,350	$1.23	23d	1	0.94mi
3700 Orleans Ave New Orleans, LA	1.0–3.0	1.0–2.0	1081	$2,945	$2.72	2d	48	0.95mi
3232 Conti St New Orleans, LA	3.0	2.0	1140	$3,500	$3.07	43d	1	0.95mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	0.96mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	0.96mi
439 N Norman C Francis Pkwy Unit 1A New Orleans, LA	3.0	1.0	1200	$1,700	$1.42	21d	1	0.96mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	23d	1	0.98mi
2338 40 Annette St New Orleans, LA	3.0	1.0	1150	$1,385	$1.20	20d	1	0.99mi
2738 Bienville St New Orleans, LA	4.0	3.0	1671	$2,200	$1.32	23d	1	1.00mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	23d	1	1.00mi
2320 Conti St New Orleans, LA	3.0	2.0	1125	$2,500	$2.22	23d	1	1.03mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,300	$1.80	20d	1	1.07mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,500	$1.96	23d	1	1.07mi
2033 Conti St New Orleans, LA	3.0	3.0	1249	$2,250	$1.80	14d	1	1.11mi
3607 Havana St New Orleans, LA	3.0	2.0	1693	$1,488	$0.88	16d	1	1.12mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	23d	1	1.13mi
3624 Havana St New Orleans, LA	3.0	1.0	1388	$1,875	$1.35	15d	1	1.13mi

Listing history 19 events

1. 2026-06-18
   days on market $289,000 Active 122 DOM
2. 2026-06-17
   days on market $289,000 Active 121 DOM
3. 2026-06-16
   days on market $289,000 Active 120 DOM
4. 2026-06-15
   days on market $289,000 Active 119 DOM
5. 2026-06-13
   days on market $289,000 Active 117 DOM
6. 2026-06-10
   days on market $289,000 Active 114 DOM
7. 2026-06-09
   days on market $289,000 Active 113 DOM
8. 2026-06-08
   days on market $289,000 Active 112 DOM
9. 2026-06-07
   days on market $289,000 Active 111 DOM
10. 2026-06-05
    days on market $289,000 Active 108 DOM
11. 2026-06-03
    days on market $289,000 Active 107 DOM
12. 2026-06-02
    days on market $289,000 Active 106 DOM
13. 2026-06-01
    days on market $289,000 Active 105 DOM
14. 2026-05-31
    days on market $289,000 Active 104 DOM
15. 2026-04-22
    price $289,000 217-char remark

    Show marketing remark (217 chars)

    Fantastic duplex on a corner lot, just TWO blocks to the Fair Grounds! This duplex features 1 bedroom/1 bathroom in each unit and is the perfect location for Jazz Fest! Bring your ideas, this property won't last long!

16. 2026-04-22
    price $289,000 217-char remark

    Show marketing remark (217 chars)

    Fantastic duplex on a corner lot, just TWO blocks to the Fair Grounds! This duplex features 1 bedroom/1 bathroom in each unit and is the perfect location for Jazz Fest! Bring your ideas, this property won't last long!

17. 2026-02-16
    listed $325,000 Active 217-char remark

    Show marketing remark (217 chars)

    Fantastic duplex on a corner lot, just TWO blocks to the Fair Grounds! This duplex features 1 bedroom/1 bathroom in each unit and is the perfect location for Jazz Fest! Bring your ideas, this property won't last long!

18. 2026-02-16
    listed $325,000 Active 217-char remark

    Show marketing remark (217 chars)

    Fantastic duplex on a corner lot, just TWO blocks to the Fair Grounds! This duplex features 1 bedroom/1 bathroom in each unit and is the perfect location for Jazz Fest! Bring your ideas, this property won't last long!

19. 2008-01-25
    soldstatus $32,500

ⓘ 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: $1,446 · $120/mo
• Projected year-2 tax: $1,590 · $132/mo
• Expected delta: +$144/yr (+$12/mo · 10.0%)

ⓘ 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 · 74% 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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,200
• − Mortgage interest: −$16,188
• − Property taxes: −$1,446
• − Insurance: −$2,242
• − Repairs & maintenance: −$2,736
• − Management: −$2,736
• − Depreciation: −$8,407
• Taxable income: $444
• Est. tax owed @ 24.0%: −$107
• After-tax cash flow: $5,037/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): 37,253
• Household income: $53,143
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3381.0

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 0.64)
• Race & ethnicity: Black 44% White 40% Two or more races 10% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 0%

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: ▼ -135.38%
• Current HPI: 253.1929
• Rent YoY: ▼ -0.20%
• 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

+789.2% since first listed

5 events — show timeline

• 2026-04-22 Price Changed $289,000 AcadianaMLS
• 2026-04-22 Price Changed $289,000 GSREIN
• 2026-02-16 Listed $325,000 GSREIN
• 2026-02-16 Listed $325,000 AcadianaMLS
• 2008-01-25 Sold (Public Records) $32,500 Public Records

Property tax history

-4.7%/yr

Latest (2026): $1,446 · +1.1% YoY. Source: county tax records.