3433-35 Paris Ave · New Orleans, LA 70122

$245,000

7 bd · 2.5 ba · 2,640 sqft · MultiFamily public records · 139 Days on market

Built 1959 $93/sqft · 24% below area Est $324k · 24% 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
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Discover this bright and welcoming double on Paris Avenue! Each spacious 4 bedroom unit features low maintenance tile and laminate floors. Each side has large eat-in kitchens and its own in-unit laundry. The property also offers a shaded, fenced yard and one off-street parking space. Excellent location only a five minute drive from City Park, the Fairgrounds, and Dillard University. Easy interstate access will make your commute a breeze! One side has tenants in place at $1600 per month. Ideal for investors or any homebuyer who wants to live in one side and have the other help pay your note!

Key facts

• In-unit laundry
• Shaded fenced yard
• Parking

Tags

• LARGE EAT-IN KITCHENS
• IN-UNIT LAUNDRY
• SHADED FENCED YARD
• OFF-STREET PARKING SPACE
• EASY INTERSTATE ACCESS

🏷️ Possibly a rental listed for sale. The $245,000 price doesn't fit this home's estimated sale value (~$323,681) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 7-bed/2.5-bath multifamily listed at $245k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $245k).
• Recommended offer: $216k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.7% 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; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,883/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 $7k 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 + 0.0% rent growth), your $69k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 29y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1959 — 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 $215,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.58% ✓
• Cap rate: 13.67%
• Cash-on-cash: 26.33%
• DSCR: 2.17
• GRM: 5.3

CMA / ARV

• ARV (median comp): $323,681
• List price: $245,000
• Delta: -24.31%
• 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
3521 Gibson St	0.16mi	6/4.0 (-1)	2,619 (-1%)	11mo	$410,000	$157	71
3923 25 Roneagle Way	0.62mi	6/4.0 (-1)	2,684 (+2%)	1mo	$265,000	$99	56
3738-40 Bruxelles St	0.22mi	6/5.0 (-1)	2,910 (+10%)	2mo	$532,000	$183	56
2878 Annette St	0.66mi	8/4.0 (+1)	2,653 (+0%)	4mo	$290,000	$109	54
1902 04 Agriculture St	0.60mi	6/3.0 (-1)	2,524 (-4%)	5mo	$102,000	$40	54
1222-1224 St Denis St	0.58mi	6/4.0 (-1)	2,576 (-2%)	7mo	$424,000	$165	52
2303 05 Abundance St	0.42mi	6/4.0 (-1)	2,596 (-2%)	21mo	$399,000	$154	50
1525 27 Lafreniere St	0.40mi	6/4.0 (-1)	2,474 (-6%)	15mo	$423,000	$171	47
3014-16 Allen St	0.50mi	8/4.0 (+1)	2,448 (-7%)	17mo	$85,000	$35	39
4210 Alfred St	0.66mi	7/4.0	2,275 (-14%)	5mo	$355,000	$156	36
3012 Castiglione St	0.50mi	6/3.0 (-1)	3,000 (+14%)	14mo	$165,000	$55	35
2883-85 Annette St	0.67mi	6/4.0 (-1)	3,035 (+15%)	17mo	$215,000	$71	19

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: 15.3%
• Equity multiple: 1.59×
• Total profit: $40,577
• Equity at exit: $36,530

10-year hold

• IRR: 21.7%
• Equity multiple: 2.60×
• Total profit: $109,433
• Equity at exit: $21,183

Cash invested: $68,600 (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: 10.5×

Monthly cashflow live

• Estimated rent: $3,883 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$175 /mo · $2,105/yr
• Insurance: −$102
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$815
• Net cashflow: $1,439

Break-even live

Break-even rent $2,062

Max offer price $245,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	1	$3,882
Total (2 units)			$3,883

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-13
   statusdays on market $245,000 Pending 139 DOM
2. 2026-06-10
   days on market $245,000 Active 138 DOM
3. 2026-06-09
   days on market $245,000 Active 137 DOM
4. 2026-06-08
   days on market $245,000 Active 136 DOM
5. 2026-06-07
   days on market $245,000 Active 135 DOM
6. 2026-06-05
   pricedays on market $245,000 Active 132 DOM
7. 2026-06-03
   days on market $255,000 Active 131 DOM
8. 2026-06-02
   days on market $255,000 Active 130 DOM
9. 2026-06-01
   days on market $255,000 Active 129 DOM
10. 2026-05-31
    days on market $255,000 Active 128 DOM
11. 2026-03-27
    price $255,000 597-char remark

    Show marketing remark (597 chars)

    Discover this bright and welcoming double on Paris Avenue! Each spacious 4 bedroom unit features low maintenance tile and laminate floors. Each side has large eat-in kitchens and its own in-unit laundry. The property also offers a shaded, fenced yard and one off-street parking space. Excellent location only a five minute drive from City Park, the Fairgrounds, and Dillard University. Easy interstate access will make your commute a breeze! One side has tenants in place at $1600 per month. Ideal for investors or any homebuyer who wants to live in one side and have the other help pay your note!

12. 2026-03-27
    price $255,000 597-char remark

    Show marketing remark (597 chars)

    Discover this bright and welcoming double on Paris Avenue! Each spacious 4 bedroom unit features low maintenance tile and laminate floors. Each side has large eat-in kitchens and its own in-unit laundry. The property also offers a shaded, fenced yard and one off-street parking space. Excellent location only a five minute drive from City Park, the Fairgrounds, and Dillard University. Easy interstate access will make your commute a breeze! One side has tenants in place at $1600 per month. Ideal for investors or any homebuyer who wants to live in one side and have the other help pay your note!

13. 2026-01-23
    listed $265,000 Active 597-char remark

    Show marketing remark (597 chars)

    Discover this bright and welcoming double on Paris Avenue! Each spacious 4 bedroom unit features low maintenance tile and laminate floors. Each side has large eat-in kitchens and its own in-unit laundry. The property also offers a shaded, fenced yard and one off-street parking space. Excellent location only a five minute drive from City Park, the Fairgrounds, and Dillard University. Easy interstate access will make your commute a breeze! One side has tenants in place at $1600 per month. Ideal for investors or any homebuyer who wants to live in one side and have the other help pay your note!

14. 2026-01-23
    listed $265,000 Active 597-char remark

    Show marketing remark (597 chars)

    Discover this bright and welcoming double on Paris Avenue! Each spacious 4 bedroom unit features low maintenance tile and laminate floors. Each side has large eat-in kitchens and its own in-unit laundry. The property also offers a shaded, fenced yard and one off-street parking space. Excellent location only a five minute drive from City Park, the Fairgrounds, and Dillard University. Easy interstate access will make your commute a breeze! One side has tenants in place at $1600 per month. Ideal for investors or any homebuyer who wants to live in one side and have the other help pay your note!

15. 2017-10-12
    soldstatus $222,800
16. 2017-08-29
    listed $254,900
17. 2017-01-09
    soldstatus $135,000
18. 2016-11-07
    listed $150,000
19. 2016-10-12
    historical
20. 2016-07-15
    price $155,000
21. 2016-05-16
    price $160,000
22. 2016-04-12
    listed $175,000 Active
23. 2016-04-12
    listed $155,000
24. 2012-07-19
    listed $155,000
25. 2012-07-19
    listed $155,000
26. 2003-08-22
    soldstatus $94,000
27. 2003-03-13
    listed $94,500
28. 2003-03-13
    listed $94,500
29. 1997-12-31
    soldstatus $61,000
30. 1997-12-31
    soldstatus $61,000
31. 1997-10-24
    listed $61,000
32. 1997-10-24
    listed $61,000
33. 1978-03-28
    soldstatus $35,000

ⓘ 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: $2,105 · $175/mo
• Projected year-2 tax: $2,105 · $175/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 ≥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: $46,596
• − Mortgage interest: −$13,724
• − Property taxes: −$2,105
• − Insurance: −$2,022
• − Repairs & maintenance: −$3,728
• − Management: −$3,728
• − Depreciation: −$7,127
• Taxable income: $14,162
• Est. tax owed @ 24.0%: −$3,399
• After-tax cash flow: $13,867/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

+628.6% since first listed

23 events — show timeline

• 2026-03-27 Price Changed $255,000 AcadianaMLS
• 2026-03-27 Price Changed $255,000 GSREIN
• 2026-01-23 Listed $265,000 GSREIN
• 2026-01-23 Listed $265,000 AcadianaMLS
• 2017-10-12 Sold (Public Records) $222,800 Public Records
• 2017-08-29 Listed $254,900 AcadianaMLS
• 2017-01-09 Sold (Public Records) $135,000 Public Records
• 2016-11-07 Listed $150,000 AcadianaMLS
• 2016-10-12 Listing Removed — GSREIN
• 2016-07-15 Price Changed $155,000 GSREIN
• 2016-05-16 Price Changed $160,000 GSREIN
• 2016-04-12 Listed $175,000 GSREIN
• 2016-04-12 Listed $155,000 AcadianaMLS
• 2012-07-19 Listed $155,000 GSREIN
• 2012-07-19 Listed $155,000 AcadianaMLS
• 2003-08-22 Sold (MLS) $94,000 GSREIN
• 2003-03-13 Listed $94,500 AcadianaMLS
• 2003-03-13 Listed $94,500 GSREIN
• 1997-12-31 Sold (Public Records) $61,000 Public Records
• 1997-12-31 Sold (MLS) $61,000 GSREIN
• 1997-10-24 Listed $61,000 GSREIN
• 1997-10-24 Listed $61,000 AcadianaMLS
• 1978-03-28 Sold (Public Records) $35,000 Public Records

Property tax history

+0.8%/yr

Latest (2026): $2,105 · +1.1% YoY. Source: county tax records.