1352 54 Saint Anthony St · New Orleans, LA 70116

$199,000

4 bd · 2.0 ba · 2,142 sqft · MultiFamily public records · 101 Days on market

Built 1940 3,937 sqft lot $93/sqft · 19% below area Est $251k · 21% under

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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 +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

JUST REDUCED! Unlock the full potential of this gutted duplex in the heart of New Orleans that has strong ARV potential. Whether you're looking to flip, hold as a rental, or convert into a high-cash-flow multi-unit, this property is a blank canvas ready for your vision. Property Highlights: Fully gutted, giving you complete control over layout and finishes. Electrical and framing work already started, saving time and upfront costs. Two-unit structure with strong rental potential. Located in an area with steady demand and ongoing revitalization! Investors, contractors, or anyone looking to build equity fast! Easy access to downtown, the French Quarter, and public transit.

Key facts

• Two-unit structure
• Gutted duplex
• Blank canvas

Tags

• GUTTED DUPLEX
• STRONG ARV POTENTIAL
• BLANK CANVAS
• ELECTRICAL AND FRAMING WORK
• TWO-UNIT STRUCTURE
• STRONG RENTAL POTENTIAL

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $639/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $181k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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; 350 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,401/mo this rent would consume 78% of the median local household income ($52k/yr) (locally 1001% 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 $6k 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 + 0.2% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y ago; this cycle's ask has dropped $50k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $17k; list at $199k implies a 1071% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — 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 $181,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% 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 1940 — 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: 1.71% ✓
• Cap rate: 14.40%
• Cash-on-cash: 28.97%
• DSCR: 2.29
• GRM: 4.9

CMA / ARV

• ARV (median comp): $251,415
• List price: $199,000
• Delta: -20.85%
• 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
2117 19 Marais St	0.25mi	4/2.0	2,084 (-3%)	5mo	$295,000	$142	80
1614 16 Annette St	0.23mi	4/2.0	1,998 (-7%)	4mo	$120,000	$60	75
1923-25 Pauger St	0.10mi	4/2.0	1,879 (-12%)	4mo	$70,000	$37	72
1124-1126 Henriette Delille St	0.47mi	4/2.0	2,071 (-3%)	2mo	$157,000	$76	71
1428-1430 Chartres St	0.54mi	4/3.0	2,011 (-6%)	2mo	$556,000	$276	59
1810 Allen St	0.38mi	4/4.0	2,390 (+12%)	4mo	$265,000	$111	52
1734 Spain St	0.59mi	5/3.0 (+1)	1,985 (-7%)	1mo	$100,000	$50	50
1805 07 St Roch Ave	0.70mi	4/2.0	1,914 (-11%)	1mo	$290,000	$152	48
2008 10 Frenchmen St	0.53mi	4/4.0	1,942 (-9%)	6mo	$380,000	$196	47
1432-1434 Ursulines Ave	0.54mi	4/1.0	1,888 (-12%)	6mo	$228,000	$121	46
832 36 Mandeville St	0.53mi	3/3.0 (-1)	1,851 (-14%)	4mo	$294,000	$159	41
523-25 Spain St	0.74mi	3/3.5 (-1)	1,891 (-12%)	2mo	$280,000	$148	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 · 0.18% rent growth · sell at horizon

5-year hold

• IRR: 18.3%
• Equity multiple: 1.72×
• Total profit: $39,867
• Equity at exit: $29,672

10-year hold

• IRR: 24.6%
• Equity multiple: 2.86×
• Total profit: $103,457
• Equity at exit: $17,206

Cash invested: $55,720 (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 70116

• Home prices YoY: -34.5%
• Rents YoY: 0.2%
• Active inventory: 350
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,401 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$215 /mo · $2,584/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$714
• Net cashflow: $1,278

Break-even live

Break-even rent $1,783

Max offer price $199,000

Occupancy floor 57%

Sensitivity live

Price	-10% $1,391	-5% $1,335	+0% $1,278	+5% $1,222	+10% $1,166
Rent	-10% $1,010	-5% $1,144	+0% $1,278	+5% $1,413	+10% $1,547
Rate	-1.0pp $1,379	-0.5pp $1,329	base $1,278	+0.5pp $1,227	+1.0pp $1,174

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,402
Total (2 units)			$3,401

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	0.25mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	0.25mi
1860 Burgundy St New Orleans, LA	4.0	4.0	3000	$3,500	$1.17	24d	1	0.34mi
1433 Esplanade Ave New Orleans, LA	3.0	2.0	2411	$5,000	$2.07	2d	1	0.36mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	3d	1	0.37mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	0.37mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	24d	1	0.40mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.42mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.42mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	4d	2	0.48mi
2320 N Rampart St New Orleans, LA	3.0	3.0	2317	$3,700	$1.60	44d	1	0.50mi
1021 Henriette Delille St New Orleans, LA	3.0	2.0	2012	$2,250	$1.12	17d	1	0.56mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	4d	1	0.61mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	24d	1	0.62mi
1000 Saint Philip St New Orleans, LA	3.0	2.5	2650	$4,800	$1.81	44d	1	0.63mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	44d	1	0.63mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	24d	1	0.71mi
839 Dumaine St New Orleans, LA	3.0	4.0	2740	$6,500	$2.37	44d	1	0.72mi
811 Burgundy St New Orleans, LA	4.0	2.5	2059	$5,000	$2.43	44d	1	0.74mi
2331 Columbus St New Orleans, LA	3.0	1.0	1976	$1,850	$0.94	24d	1	0.79mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	24d	1	0.84mi
618 N Rampart St #204 New Orleans, LA	3.0	2.5	1904	$4,500	$2.36	44d	1	0.86mi
751 Chartres St New Orleans, LA	2.0–3.0	2.0	1461	$3,450	$2.36	44d	1	0.89mi
527 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1687	$3,500	$2.07	44d	1	0.90mi
515 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1644	$3,600	$2.19	45d	1	0.90mi
2228 Arts St New Orleans, LA	3.0	2.0	2270	$1,675	$0.74	4d	1	0.93mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	24d	1	0.97mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	44d	1	0.97mi
535 Decatur St Unit 3 New Orleans, LA	3.0	2.0	1600	$2,800	$1.75	12d	1	1.05mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	44d	1	1.06mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	16d	1	1.08mi
324 N Roman St New Orleans, LA	3.0	3.0	2100	$2,500	$1.19	44d	1	1.10mi
2664 Lepage St New Orleans, LA	3.0	2.0	1750	$2,725	$1.56	44d	1	1.11mi
810 Bienville St New Orleans, LA	1.0–3.0	1.0–2.0	995	$2,688	$2.70	4d	9	1.15mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	24d	1	1.15mi
939 Iberville St New Orleans, LA	1.0–3.0	1.0	1502	$3,800	$2.53	12d	7	1.16mi
2731 Saint Philip St Unit 2733 New Orleans, LA	4.0	2.0	2000	$2,600	$1.30	24d	1	1.18mi
1466 N White St New Orleans, LA	3.0	1.5	1500	$2,250	$1.50	4d	1	1.20mi
1011 Canal St Unit 1513926P New Orleans, LA	1.0–4.0	1.0–4.0	1016	$12,077	$11.88	2d	2	1.22mi
1011 Canal St Unit 1513939P New Orleans, LA	4.0	4.0	1765	$11,253	$6.38	24d	1	1.22mi

Listing history 28 events

1. 2026-06-18
   days on market $199,000 Active 101 DOM
2. 2026-06-17
   days on market $199,000 Active 100 DOM
3. 2026-06-16
   days on market $199,000 Active 99 DOM
4. 2026-06-15
   days on market $199,000 Active 98 DOM
5. 2026-06-13
   days on market $199,000 Active 96 DOM
6. 2026-06-10
   days on market $199,000 Active 93 DOM
7. 2026-06-09
   days on market $199,000 Active 92 DOM
8. 2026-06-08
   days on market $199,000 Active 91 DOM
9. 2026-06-07
   days on market $199,000 Active 90 DOM
10. 2026-06-05
    days on market $199,000 Active 87 DOM
11. 2026-06-03
    days on market $199,000 Active 86 DOM
12. 2026-06-02
    days on market $199,000 Active 85 DOM
13. 2026-06-01
    days on market $199,000 Active 84 DOM
14. 2026-05-31
    days on market $199,000 Active 83 DOM
15. 2026-04-15
    price $199,000 679-char remark

    Show marketing remark (679 chars)

    JUST REDUCED! Unlock the full potential of this gutted duplex in the heart of New Orleans that has strong ARV potential. Whether you're looking to flip, hold as a rental, or convert into a high-cash-flow multi-unit, this property is a blank canvas ready for your vision. Property Highlights: Fully gutted, giving you complete control over layout and finishes. Electrical and framing work already started, saving time and upfront costs. Two-unit structure with strong rental potential. Located in an area with steady demand and ongoing revitalization! Investors, contractors, or anyone looking to build equity fast! Easy access to downtown, the French Quarter, and public transit.

16. 2026-04-15
    price $199,000 679-char remark

    Show marketing remark (679 chars)

    JUST REDUCED! Unlock the full potential of this gutted duplex in the heart of New Orleans that has strong ARV potential. Whether you're looking to flip, hold as a rental, or convert into a high-cash-flow multi-unit, this property is a blank canvas ready for your vision. Property Highlights: Fully gutted, giving you complete control over layout and finishes. Electrical and framing work already started, saving time and upfront costs. Two-unit structure with strong rental potential. Located in an area with steady demand and ongoing revitalization! Investors, contractors, or anyone looking to build equity fast! Easy access to downtown, the French Quarter, and public transit.

17. 2026-03-07
    listed $249,500 Active 679-char remark

    Show marketing remark (679 chars)

    JUST REDUCED! Unlock the full potential of this gutted duplex in the heart of New Orleans that has strong ARV potential. Whether you're looking to flip, hold as a rental, or convert into a high-cash-flow multi-unit, this property is a blank canvas ready for your vision. Property Highlights: Fully gutted, giving you complete control over layout and finishes. Electrical and framing work already started, saving time and upfront costs. Two-unit structure with strong rental potential. Located in an area with steady demand and ongoing revitalization! Investors, contractors, or anyone looking to build equity fast! Easy access to downtown, the French Quarter, and public transit.

18. 2026-03-07
    listed $249,500 Active 679-char remark

    Show marketing remark (679 chars)

    JUST REDUCED! Unlock the full potential of this gutted duplex in the heart of New Orleans that has strong ARV potential. Whether you're looking to flip, hold as a rental, or convert into a high-cash-flow multi-unit, this property is a blank canvas ready for your vision. Property Highlights: Fully gutted, giving you complete control over layout and finishes. Electrical and framing work already started, saving time and upfront costs. Two-unit structure with strong rental potential. Located in an area with steady demand and ongoing revitalization! Investors, contractors, or anyone looking to build equity fast! Easy access to downtown, the French Quarter, and public transit.

19. 2009-03-20
    soldstatus $17,000
20. 2009-02-12
    soldstatus $46,667
21. 2009-01-13
    listed $14,900
22. 2009-01-13
    listed $14,900
23. 2007-12-10
    listed $60,000
24. 2007-12-10
    listed $60,000
25. 2003-12-12
    soldstatus $86,000
26. 2003-10-28
    listed $84,900
27. 2003-10-28
    listed $84,900
28. 2000-05-24
    soldstatus $66,200

ⓘ 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: $2,584 · $215/mo
• Projected year-2 tax: $2,584 · $215/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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,812
• − Mortgage interest: −$11,147
• − Property taxes: −$2,584
• − Insurance: −$1,792
• − Repairs & maintenance: −$3,265
• − Management: −$3,265
• − Depreciation: −$5,789
• Taxable income: $12,969
• Est. tax owed @ 24.0%: −$3,113
• After-tax cash flow: $12,229/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): 10,404
• Household income: $52,306
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 1001.0

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: White 45% Black 40% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Mexican 1% Cuban 3%
• Common ancestry: Lithuanian 6% Slovak 3% Romanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 2%

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: ▼ -144.83%
• Current HPI: 275.5453
• Rent YoY: ▲ 0.18%
• 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

+200.6% since first listed

14 events — show timeline

• 2026-04-15 Price Changed $199,000 AcadianaMLS
• 2026-04-15 Price Changed $199,000 GSREIN
• 2026-03-07 Listed $249,500 GSREIN
• 2026-03-07 Listed $249,500 AcadianaMLS
• 2009-03-20 Sold (MLS) $17,000 GSREIN
• 2009-02-12 Sold (Public Records) $46,667 Public Records
• 2009-01-13 Listed $14,900 GSREIN
• 2009-01-13 Listed $14,900 AcadianaMLS
• 2007-12-10 Listed $60,000 GSREIN
• 2007-12-10 Listed $60,000 AcadianaMLS
• 2003-12-12 Sold (MLS) $86,000 GSREIN
• 2003-10-28 Listed $84,900 GSREIN
• 2003-10-28 Listed $84,900 AcadianaMLS
• 2000-05-24 Sold (Public Records) $66,200 Public Records

Property tax history

+7.3%/yr

Latest (2026): $2,584 · +1.1% YoY. Source: county tax records.