4488 Lafaye St · New Orleans, LA 70122

$349,500

4 bd · 3.0 ba · 3,367 sqft · MultiFamily public records · 186 Days on market

Built 1945 5,998 sqft lot $104/sqft · at area comps Est $347k · at est.

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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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.2/15.0
• 1% rule +6.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• 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

Discover an excellent investment opportunity in the highly desirable Gentilly Terrace neighborhood. This well-maintained duplex offers reliable, stable rental income and the potential to grow your portfolio with a property that's already performing or suited for owner-occupier. Each unit features three bedrooms, comfortable living spaces, and classic Gentilly charm. Located in one of New Orleans' favorite residential communities, this property provides easy access to UNO, Dillard University, City Park, and major transit routes.

Key facts

• Easy access to uno
• 5,998 sq ft lot
• Parking

Tags

• GENTILLY TERRACE NEIGHBORHOOD
• RELIABLE RENTAL INCOME
• EASY ACCESS TO UNO
• EASY ACCESS TO CITY PARK

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $673 ($8k/yr) — positive. Per door: $337/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 soft (-0.6%/yr); 332 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 $3,856/mo this rent would consume 94% of the median local household income ($49k/yr) (locally 2150% 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 $10k 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 186 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $50k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $350k implies a 1257% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1945 — 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $307,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 186 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. Built in 1945 — 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: 1.10% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.07%
• DSCR: 1.40
• GRM: 7.6

CMA / ARV

• ARV (median comp): $347,074
• List price: $349,500
• Delta: 0.70%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.74×
• Total profit: $-25,019
• Equity at exit: $52,112

10-year hold

• IRR: -1.7%
• Equity multiple: 0.90×
• Total profit: $-10,107
• Equity at exit: $30,218

Cash invested: $97,860 (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 70122

• Rents YoY: -0.6%
• Active inventory: 332
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $3,856 high
• Mortgage (P&I): −$1,833
• Tax from tax record: −$328 /mo · $3,936/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$810
• Net cashflow: $673

Break-even live

Break-even rent $3,004

Max offer price $349,500

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,856
Total (2 units)			$3,856

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: $87,375
• Closing costs: $10,485
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3570 Gentilly Blvd New Orleans, LA	3.0	2.0	2390	$2,900	$1.21	43d	1	0.30mi

Listing history 26 events

1. 2026-06-18
   days on market $349,500 Active 186 DOM
2. 2026-06-17
   days on market $349,500 Active 185 DOM
3. 2026-06-16
   days on market $349,500 Active 184 DOM
4. 2026-06-15
   days on market $349,500 Active 183 DOM
5. 2026-06-13
   days on market $349,500 Active 181 DOM
6. 2026-06-10
   days on market $349,500 Active 178 DOM
7. 2026-06-09
   days on market $349,500 Active 177 DOM
8. 2026-06-08
   days on market $349,500 Active 176 DOM
9. 2026-06-07
   days on market $349,500 Active 175 DOM
10. 2026-06-05
    days on market $349,500 Active 172 DOM
11. 2026-06-03
    days on market $349,500 Active 171 DOM
12. 2026-06-02
    days on market $349,500 Active 170 DOM
13. 2026-06-01
    days on market $349,500 Active 169 DOM
14. 2026-05-31
    days on market $349,500 Active 168 DOM
15. 2026-05-15
    price $349,500 533-char remark

    Show marketing remark (545 chars)

    Discover an excellent investment opportunity in the highly desirable Gentilly Terrace neighborhood. This well-maintained duplex offers reliable, stable rental income and the potential to grow your portfolio with a property that’s already performing or suited for owner-occupier. Each unit features three bedrooms, comfortable living spaces, and classic Gentilly charm. Located in one of New Orleans’ favorite residential communities, this property provides easy access to UNO, Dillard University, City Park, and major transit routes.

16. 2026-05-15
    price $349,500 545-char remark

    Show marketing remark (545 chars)

    Discover an excellent investment opportunity in the highly desirable Gentilly Terrace neighborhood. This well-maintained duplex offers reliable, stable rental income and the potential to grow your portfolio with a property that’s already performing or suited for owner-occupier. Each unit features three bedrooms, comfortable living spaces, and classic Gentilly charm. Located in one of New Orleans’ favorite residential communities, this property provides easy access to UNO, Dillard University, City Park, and major transit routes.

17. 2026-01-18
    price $379,000 533-char remark

    Show marketing remark (545 chars)

    Discover an excellent investment opportunity in the highly desirable Gentilly Terrace neighborhood. This well-maintained duplex offers reliable, stable rental income and the potential to grow your portfolio with a property that’s already performing or suited for owner-occupier. Each unit features three bedrooms, comfortable living spaces, and classic Gentilly charm. Located in one of New Orleans’ favorite residential communities, this property provides easy access to UNO, Dillard University, City Park, and major transit routes.

18. 2026-01-18
    price $379,000 545-char remark

    Show marketing remark (545 chars)

    Discover an excellent investment opportunity in the highly desirable Gentilly Terrace neighborhood. This well-maintained duplex offers reliable, stable rental income and the potential to grow your portfolio with a property that’s already performing or suited for owner-occupier. Each unit features three bedrooms, comfortable living spaces, and classic Gentilly charm. Located in one of New Orleans’ favorite residential communities, this property provides easy access to UNO, Dillard University, City Park, and major transit routes.

19. 2025-12-06
    listed $399,000 Active 533-char remark

    Show marketing remark (545 chars)

    Discover an excellent investment opportunity in the highly desirable Gentilly Terrace neighborhood. This well-maintained duplex offers reliable, stable rental income and the potential to grow your portfolio with a property that’s already performing or suited for owner-occupier. Each unit features three bedrooms, comfortable living spaces, and classic Gentilly charm. Located in one of New Orleans’ favorite residential communities, this property provides easy access to UNO, Dillard University, City Park, and major transit routes.

20. 2025-12-06
    listed $399,000 Active 545-char remark

    Show marketing remark (545 chars)

    Discover an excellent investment opportunity in the highly desirable Gentilly Terrace neighborhood. This well-maintained duplex offers reliable, stable rental income and the potential to grow your portfolio with a property that’s already performing or suited for owner-occupier. Each unit features three bedrooms, comfortable living spaces, and classic Gentilly charm. Located in one of New Orleans’ favorite residential communities, this property provides easy access to UNO, Dillard University, City Park, and major transit routes.

21. 2025-11-01
    historical $1,695
22. 2025-10-26
    listed $1,695
23. 2023-09-22
    historical $1,750
24. 2023-09-17
    listed $1,750
25. 2000-11-27
    soldstatus $25,754
26. 1984-12-19
    soldstatus $120,000

ⓘ 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: $3,936 · $328/mo
• Projected year-2 tax: $3,936 · $328/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 · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $46,272
• − Mortgage interest: −$19,577
• − Property taxes: −$3,936
• − Insurance: −$2,545
• − Repairs & maintenance: −$3,702
• − Management: −$3,702
• − Depreciation: −$10,167
• Taxable income: $2,642
• Est. tax owed @ 24.0%: −$634
• After-tax cash flow: $7,446/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): 35,253
• Household income: $49,455
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 2150.0

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: Predominantly Black (69%)
• Race & ethnicity: Black 69% White 18% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 4% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 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: ▼ -222.37%
• Current HPI: 231.9921
• Rent YoY: ▼ -0.61%
• 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

+191.2% since first listed

12 events — show timeline

• 2026-05-15 Price Changed $349,500 AcadianaMLS
• 2026-05-15 Price Changed $349,500 GSREIN
• 2026-01-18 Price Changed $379,000 AcadianaMLS
• 2026-01-18 Price Changed $379,000 GSREIN
• 2025-12-06 Listed $399,000 GSREIN
• 2025-12-06 Listed $399,000 AcadianaMLS
• 2025-11-01 Rental Removed $1,695 GSREIN
• 2025-10-26 Listed for Rent $1,695 GSREIN
• 2023-09-22 Rental Removed $1,750 GSREIN
• 2023-09-17 Listed for Rent $1,750 GSREIN
• 2000-11-27 Sold (Public Records) $25,754 Public Records
• 1984-12-19 Sold (Public Records) $120,000 Public Records

Property tax history

+2.3%/yr

Latest (2026): $3,936 · +1.1% YoY. Source: county tax records.