1720-1722 Marais St · New Orleans, LA 70116

$269,000

2 bd · 2.0 ba · 2,008 sqft · MultiFamily public records · 1 Days on market

Built 1920 $134/sqft · 14% below area Est $378k · 29% 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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• 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

Updated double in New Marigny, Walk to the Marigny, Frenchmen St and the French Quarter. 2 large units and a very large back yard is a pet owners dream.

Key facts

• Large back yard
• Walk to the marigny
• Walk to frenchmen st

Tags

• LARGE BACK YARD
• WALK TO THE MARIGNY
• WALK TO FRENCHMEN ST
• WALK TO THE FRENCH QUARTER

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Two-story building; Shingle roof; HardiPlank and stucco exterior
• Construction: Built with HardiPlank and stucco; Shingle roof; Raised foundation
• Exterior features: City lot; Rectangular lot; Lot dimensions approximately 34 x 160; Raised foundation; Average condition

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Gas heating; Window air conditioning units
• Interior features: Two-unit property

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $269k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $545/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $269k).
• Cap rate 11.4% 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 $3,739/mo this rent would consume 86% 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 $2k of loan paydown is wiped out by about $8k 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 $75k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 17 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1920 — 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 $269,000

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 1920 — 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: 1.39% ✓
• Cap rate: 11.45%
• Cash-on-cash: 18.41%
• DSCR: 1.82
• GRM: 6.0

CMA / ARV

• ARV (median comp): $378,468
• List price: $269,000
• Delta: -27.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1932-34 Dauphine St	0.32mi	3/3.0 (+1)	1,990 (-1%)	6mo	$625,000	$314	70
1820 22 Dauphine St	0.29mi	2/3.0	1,908 (-5%)	6mo	$725,000	$380	70
2316 18 N Rampart St	0.45mi	2/2.0	2,035 (+1%)	23mo	$600,000	$295	58
1447 49 N Roman St	0.49mi	2/2.0	1,783 (-11%)	2mo	$217,800	$122	57
832 36 Mandeville St	0.50mi	3/3.0 (+1)	1,851 (-8%)	4mo	$294,000	$159	52
938 Spain St	0.54mi	3/2.0 (+1)	1,943 (-3%)	18mo	$305,000	$157	50
915 17 Spain St	0.57mi	3/2.0 (+1)	1,861 (-7%)	10mo	$450,000	$242	48
1919-1921 Bayou Rd	0.55mi	2/2.0	1,730 (-14%)	6mo	$127,000	$73	46
523-25 Spain St	0.70mi	3/3.5 (+1)	1,891 (-6%)	2mo	$280,000	$148	45
2259-2261 N Derbigny St	0.56mi	3/2.0 (+1)	1,848 (-8%)	15mo	$340,000	$184	43

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: 5.5%
• Equity multiple: 1.21×
• Total profit: $15,530
• Equity at exit: $40,109

10-year hold

• IRR: 12.2%
• Equity multiple: 1.84×
• Total profit: $63,083
• Equity at exit: $23,258

Cash invested: $75,320 (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: 12.0×

Monthly cashflow live

• Estimated rent: $3,739 high
• Mortgage (P&I): −$1,411
• Tax from tax record: −$275 /mo · $3,304/yr
• Insurance: −$112
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$785
• Net cashflow: $1,089

Break-even live

Break-even rent $2,360

Max offer price $269,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,242	-5% $1,165	+0% $1,089	+5% $1,013	+10% $937
Rent	-10% $794	-5% $942	+0% $1,089	+5% $1,237	+10% $1,385
Rate	-1.0pp $1,225	-0.5pp $1,158	base $1,089	+0.5pp $1,020	+1.0pp $949

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,740
Total (2 units)			$3,739

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: $67,250
• Closing costs: $8,070
• 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	0.16mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	0.17mi
1910 N Rampart St New Orleans, LA	2.0	1.0	1450	$1,995	$1.38	4d	1	0.17mi
1136 Frenchmen St New Orleans, LA	2.0	1.0	1800	$1,650	$0.92	24d	1	0.22mi
1434 Annette St New Orleans, LA	2.0	1.0	1536	$1,700	$1.11	4d	1	0.22mi
1434 Annette St New Orleans, LA	2.0	1.0	1536	$1,700	$1.11	4d	1	0.22mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	0.23mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	0.23mi
1301 N Rampart St New Orleans, LA	2.0	2.0–2.5	2929	$7,750	$2.65	20d	2	0.28mi
1423 N Villere St Unit A New Orleans, LA	2.0	3.0	1964	$2,500	$1.27	44d	1	0.28mi
1022 Barracks St New Orleans, LA	1.0–2.0	1.0–2.0	1233	$4,400	$3.57	44d	1	0.31mi
817 Esplanade Ave Unit 1A New Orleans, LA	2.0	2.5	1586	$4,000	$2.52	4d	1	0.32mi
1433 Esplanade Ave New Orleans, LA	3.0	2.0	2411	$5,000	$2.07	3d	1	0.33mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$2,165	$1.37	4d	2	0.44mi
2320 N Rampart St New Orleans, LA	3.0	3.0	2317	$3,700	$1.60	44d	1	0.44mi
1021 Henriette Delille St New Orleans, LA	3.0	2.0	2012	$2,250	$1.12	18d	1	0.45mi
1000 Saint Philip St New Orleans, LA	3.0	2.5	2650	$4,800	$1.81	44d	1	0.50mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	24d	1	0.53mi
600 Marigny St New Orleans, LA	1.0	1.0	1440	$2,000	$1.39	12d	1	0.54mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.56mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.56mi
839 Dumaine St New Orleans, LA	3.0	4.0	2740	$6,500	$2.37	44d	1	0.58mi
1239 Saint Roch Ave New Orleans, LA	2.0	2.0	1500	$2,150	$1.43	4d	1	0.61mi
824 Royal St Unit G New Orleans, LA	2.0	2.0	2080	$3,300	$1.59	44d	1	0.68mi
915 Decatur St Unit F New Orleans, LA	2.0	2.0	1500	$2,175	$1.45	24d	1	0.71mi
618 N Rampart St #204 New Orleans, LA	3.0	2.5	1904	$4,500	$2.36	44d	1	0.74mi
751 Chartres St New Orleans, LA	2.0–3.0	2.0	1461	$2,610	$1.79	44d	1	0.75mi
527 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1687	$3,500	$2.07	44d	1	0.76mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	44d	1	0.76mi
515 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1644	$3,600	$2.19	45d	1	0.77mi
627 St Peter New Orleans, LA	2.0	2.5	2174	$5,500	$2.53	24d	1	0.78mi
609 Royal St Unit D New Orleans, LA	1.0	1.0	1431	$2,200	$1.54	12d	1	0.82mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	24d	1	0.82mi
2331 Columbus St New Orleans, LA	3.0	1.0	1976	$1,850	$0.94	24d	1	0.85mi
2422 Columbus St New Orleans, LA	2.0	2.0	1550	$2,500	$1.61	22d	1	0.91mi
535 Decatur St Unit 3 New Orleans, LA	3.0	2.0	1600	$2,800	$1.75	12d	1	0.91mi
1034 Montegut St Unit 1034 New Orleans, LA	2.0	2.0	1415	$3,400	$2.40	44d	1	0.95mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	24d	1	0.95mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	44d	1	0.95mi
522 Montegut St New Orleans, LA	1.0–2.0	1.0–2.0	1256	$3,500	$2.79	3d	12	0.96mi

Listing history 50 events

1. 2026-06-18
   pricestatusdays on marketlisting id $269,000 Active 1 DOM

   Show marketing remark (152 chars)

   Updated double in New Marigny, Walk to the Marigny, Frenchmen St and the French Quarter. 2 large units and a very large back yard is a pet owners dream.

2. 2026-06-15
   days on market $275,000 Active Under Contract 319 DOM
3. 2026-06-13
   days on market $275,000 Active Under Contract 317 DOM
4. 2026-06-10
   days on market $275,000 Active Under Contract 314 DOM
5. 2026-06-09
   days on market $275,000 Active Under Contract 313 DOM
6. 2026-06-08
   statusdays on market $275,000 Active Under Contract 312 DOM
7. 2026-06-07
   days on market $275,000 Active 311 DOM
8. 2026-06-05
   days on market $275,000 Active 308 DOM
9. 2026-06-03
   days on market $275,000 Active 307 DOM
10. 2026-06-02
    days on market $275,000 Active 306 DOM
11. 2026-06-01
    days on market $275,000 Active 305 DOM
12. 2026-05-31
    days on market $275,000 Active 304 DOM
13. 2026-03-03
    status Active 809-char remark
14. 2026-03-03
    status Active 786-char remark
15. 2026-03-01
    historical 786-char remark
16. 2026-01-27
    price $275,000 809-char remark
17. 2026-01-27
    price $275,000 786-char remark
18. 2025-10-20
    price $300,000 809-char remark
19. 2025-10-20
    price $300,000 786-char remark
20. 2025-07-29
    listed $315,000 Active 809-char remark
21. 2025-07-29
    listed $315,000 Active 786-char remark
22. 2023-02-14
    soldstatus $281,250
23. 2023-02-13
    soldstatus $281,250 Closed
24. 2023-01-27
    historical Active Under Contract
25. 2022-12-29
    price $289,900
26. 2022-11-16
    price $329,900
27. 2022-09-20
    price $339,900
28. 2022-08-30
    listed $359,900 Active
29. 2022-08-30
    listed $289,900
30. 2021-03-03
    soldstatus $275,000
31. 2020-06-04
    listed $299,000
32. 2016-12-08
    soldstatus $245,000
33. 2016-12-02
    soldstatus $245,000 Sold
34. 2016-08-09
    historical Pending Continue to Show
35. 2016-08-09
    status Active
36. 2016-08-02
    historical
37. 2016-08-02
    status Active
38. 2016-07-29
    historical
39. 2016-07-19
    price $245,000
40. 2016-07-18
    status Active
41. 2016-06-09
    historical Pending Continue to Show
42. 2016-06-01
    price $230,000
43. 2016-06-01
    price $215,000
44. 2016-04-28
    listed $230,000 Active
45. 2016-04-25
    listed $245,000
46. 2016-04-15
    soldstatus $120,000
47. 2008-07-11
    listed $165,000
48. 2008-07-11
    listed $165,000
49. 2005-04-29
    soldstatus $65,000
50. 2004-11-15
    listed $67,000

ⓘ 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: $3,304 · $275/mo
• Projected year-2 tax: $3,304 · $275/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 · 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: $44,868
• − Mortgage interest: −$15,068
• − Property taxes: −$3,304
• − Insurance: −$2,142
• − Repairs & maintenance: −$3,589
• − Management: −$3,589
• − Depreciation: −$7,825
• Taxable income: $9,349
• Est. tax owed @ 24.0%: −$2,244
• After-tax cash flow: $10,828/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

+1245.0% since first listed

41 events — show timeline

• 2026-06-18 Listed $269,000 GSREIN
• 2026-06-18 Listed $269,000 AcadianaMLS
• 2026-06-13 Relisted — AcadianaMLS
• 2026-06-08 Pending — AcadianaMLS
• 2026-03-03 Relisted — AcadianaMLS
• 2026-01-27 Price Changed $275,000 AcadianaMLS
• 2026-01-27 Price Changed $275,000 GSREIN
• 2025-10-20 Price Changed $300,000 AcadianaMLS
• 2025-10-20 Price Changed $300,000 GSREIN
• 2025-07-29 Listed $315,000 AcadianaMLS
• 2023-02-14 Sold (Public Records) $281,250 Public Records
• 2023-02-13 Sold (MLS) $281,250 GSREIN
• 2023-01-27 Contingent — GSREIN
• 2022-12-29 Price Changed $289,900 GSREIN
• 2022-11-16 Price Changed $329,900 GSREIN
• 2022-09-20 Price Changed $339,900 GSREIN
• 2022-08-30 Listed $289,900 AcadianaMLS
• 2022-08-30 Listed $359,900 GSREIN
• 2021-03-03 Sold (Public Records) $275,000 Public Records
• 2020-06-04 Listed $299,000 AcadianaMLS
• 2016-12-08 Sold (Public Records) $245,000 Public Records
• 2016-12-02 Sold (MLS) $245,000 GSREIN
• 2016-08-09 Contingent — GSREIN
• 2016-08-09 Relisted — GSREIN
• 2016-08-02 Listing Removed — GSREIN
• 2016-08-02 Relisted — GSREIN
• 2016-07-29 Listing Removed — GSREIN
• 2016-07-19 Price Changed $245,000 GSREIN
• 2016-07-18 Relisted — GSREIN
• 2016-06-09 Contingent — GSREIN
• 2016-06-01 Price Changed $230,000 GSREIN
• 2016-06-01 Price Changed $215,000 GSREIN
• 2016-04-28 Listed $230,000 GSREIN
• 2016-04-25 Listed $245,000 AcadianaMLS
• 2016-04-15 Sold (Public Records) $120,000 Public Records
• 2008-07-11 Listed $165,000 GSREIN
• 2008-07-11 Listed $165,000 AcadianaMLS
• 2005-04-29 Sold (MLS) $65,000 GSREIN
• 2004-11-15 Listed $67,000 AcadianaMLS
• 2004-11-15 Listed $67,000 GSREIN
• 1979-04-09 Sold (Public Records) $20,000 Public Records

Property tax history

+2.8%/yr

Latest (2026): $3,304 · +1.1% YoY. Source: county tax records.