2545 Agriculture St · New Orleans, LA
Flood risk 8/10 · Major
- FEMA flood zone
- AE
- Chance of flooding over 30 yrs
- 0.75%
- Est. flood insurance / yr
- $1,737 – $8,500
Fire risk 1/10 · Minimal
- Est. fire insurance / yr
- $1,269 – $2,357
Heat risk 10/10 · Severe
- Hot days now (above 107°F)
- 7 days/yr
- Hot days in 30 yrs
- 21 days/yr
Wind risk 10/10 · Severe
- Chance of severe wind over 30 yrs
- 99.0%
Air-quality risk 3/10 · Minor
- Unhealthy air days now
- 3 days/yr
- Unhealthy air days in 30 yrs
- 3 days/yr
Risk factors via First Street. Map © Google.
Why this score? — see what drove the F 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).
- ARV discount +15.0/15.0
- Livability +4.0/5.0
- Cash flow +2.5/30.0
- Rent growth +2.3/5.0
- Schools +2.2/10.0
- Condition / age +2.2/5.0
- 1% rule +0.0/10.0
- DSCR +0.0/10.0
- Appreciation +0.0/10.0
$489,000
2545 Agriculture St · New Orleans, LA 70122
7 bd · 7.0 ba · 4,400 sqft · Townhouse
· 97 Days on market
Built 1958
$111/sqft
· 47% below area
Est $928k · 47% under
↓ 11% since listing
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
Listing remarks MLS
Investment Opportunity in Gentilly!! 2545-2553 Agriculture St. Two buildings with combined 7 units. 6 out 7 are occupied with long term tenants - all month to month leases. Flexible MU-1 Zoning: Designated as Medium Intensity Mixed Use, this property opens the door to abundant income streams. The ground floor of the 2551/2553 building is a blank canvas, ready to be developed into additional housing units or tailored for commercial use. Both buildings have approximately 5 year old roofs installed post-Ida. One water meter for each building in which tenants split proportionately. 6 total electric meters - 2553 A & B share one elec meter. Seller open to selling buildings separately, although subdivision will take additional months for completion. Measurements are estimated and not guaranteed.
Key facts
- One water meter
- 5 year old roofs
- Flexible mu-1 zoning
Tags
Neighborhood map
Sold within
Property
Rental comp
Retail
Costco
Walmart
Transit
Schools
Stadiums
Fortune 500
· Circle radius: 6.0 mi
Loading POIs…
What this means for you Summary
Snapshot
- This is a 7-bed/7.0-bath townhouse listed at $489k. Condition is rated fair.
Deal economics
- At list price, monthly cash flow is $-2k ($-26k/yr) — negative.
- To cash-flow at today's rent, offer at most $181k (63.0% below list).
- To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (56.6% below list).
- Recommended offer: $181k (63.0% below list) — sets the bar for cash-flow.
- Cap rate 2.1% vs local median 4.4% in New Orleans — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
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.
- Zoned schools: Benjamin Franklin Elem. Math And Science (math 12% / reading 23%, grade F, #479 of 646 statewide, top 75%, 747 students, 98% FRL, charter) — zoned schools average 98% FRL vs 68% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
- Market conditions: Rents soft (-0.6%/yr); 436 active listings in the ZIP; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
- At $2,122/mo this rent would consume 51% of the median local household income ($49k/yr) — 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 $3k of loan paydown is wiped out by about $15k 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 97 days — a 9% lower offer ($445k) is reasonable based on typical stale-listing flexibility.
- 5 sale attempts since 3y 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 $427/mo; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
- Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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
$180,889
(63.0% below list)
Questions for the listing agent
- What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
- It's been on market 97 days. Have you received any prior offers? Is the seller open to a 63% concession, seller financing, or rate buy-down credit?
- Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
- Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
- What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
- Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
- 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.
- 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.
- How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.
Investment metrics
- 1% rule
- 0.43% ✗
- Cap rate
- 2.11%
- Cash-on-cash
- -14.92%
- DSCR
- 0.34
- GRM
- 19.2
CMA / ARV
- ARV (median comp)
- $928,116
- List price
- $489,000
- Delta
- -47.31%
- Verdict
- UNDERPRICED
- Comps
- 3 within 2.0 mi
Show comp detail 12 sales within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 2911 13 Castiglione St | 1.50mi | 7/4.0 | 4,100 (-7%) | 10mo | $350,000 | $85 | 33 |
| 2923-25 Bruxelles St | 1.28mi | 8/4.0 (+1) | 4,436 (+1%) | 20mo | $230,000 | $52 | 30 |
| 2412 N Rampart St | 1.47mi | 7/5.0 | 3,891 (-12%) | 10mo | $1,200,000 | $308 | 30 |
| 2704 06 Jasmine St | 0.86mi | 6/6.0 (-1) | 3,600 (-18%) | 14mo | $275,000 | $76 | 20 |
| 2519-21 Burgundy St | 1.48mi | 8/7.0 (+1) | 5,424 (+23%) | 19mo | $413,000 | $76 | 19 |
| 1416 18 Franklin Ave | 1.10mi | 8/8.5 (+1) | 3,780 (-14%) | 18mo | $75,000 | $20 | 15 |
| 2662 64 New Orleans St | 1.04mi | 6/2.0 (-1) | 3,408 (-22%) | 9mo | $75,000 | $22 | 12 |
| 2130 N Broad Ave | 1.17mi | 8/4.0 (+1) | 3,841 (-13%) | 19mo | $485,000 | $126 | 11 |
| 2305-2307 Frenchmen St | 0.75mi | 8/4.0 (+1) | 3,500 (-20%) | 15mo | $144,000 | $41 | 10 |
| 1736-38 Louisa St | 1.14mi | 8/4.0 (+1) | 3,568 (-19%) | 18mo | $340,000 | $95 | 8 |
| 2032-34 Elysian Fields Ave | 0.85mi | 8/4.0 (+1) | 3,336 (-24%) | 18mo | $310,000 | $93 | 8 |
| 2219-21 Saint Denis St | 0.72mi | 8/2.0 (+1) | 5,022 (+14%) | 21mo | $180,000 | $36 | 5 |
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
- -57.7%
- Equity multiple
- -0.61×
- Total profit
- $-220,780
- Equity at exit
- $72,911
10-year hold
- IRR
- —
- Equity multiple
- -1.85×
- Total profit
- $-389,719
- Equity at exit
- $42,280
Cash invested: $136,920 (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.
ZIP-level market 70122
- Rents YoY
- -0.6%
- Active inventory
- 436
- Price-to-rent
- 19.2×
Monthly cashflow live
↻
- Estimated rent
- $2,122 medium interval (Pro) →
- Mortgage (P&I)
- −$2,564
- Tax est. 1.5%
- −$611 /mo · $7,335/yr
- Insurance
- −$204
- Flood insurance flood zone
- −$427 /mo · $5,118/yr
- HOA
- −$0
- Lot rent
- −$0
- Vacancy / Maint / Mgmt
- −$446
- Net cashflow
- $-2,129
Break-even live
Break-even rent
$4,818
Max offer price
$180,889
Occupancy floor
—
Sensitivity live
| Price | -10% $-1,791 | -5% $-1,960 | +0% $-2,129 | +5% $-2,298 | +10% $-2,467 |
|---|---|---|---|---|---|
| Rent | -10% $-2,297 | -5% $-2,213 | +0% $-2,129 | +5% $-2,045 | +10% $-1,962 |
| Rate | -1.0pp $-1,883 | -0.5pp $-2,005 | base $-2,129 | +0.5pp $-2,256 | +1.0pp $-2,385 |
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
- $122,250
- Closing costs
- $14,670
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Property features AI
Finance
- Financial info
- 7-unit property
Exterior
- Parking
- Off-street parking
- Utilities
- Public waterPublic sewer
- Home design
- 2-story multifamily buildingRaised foundationShingle roof
- Construction
- Raised foundationShingle roof
- Exterior features
- PorchCity lot with irregular shapeLot dimensions approximately 38 x 48 x 33 x 14 x 68 x 75
Interior
- Bedrooms
- 7 total units (multifamily)
- Bathrooms
- 7 full bathrooms (total)
- Heating & cooling
- Central heatingCentral air conditioning
- Interior features
- Average condition
- Laundry & utility
- Tenants pay electricity and water
Listing history 50 events
-
2026-08-31days on market $489,000 Active 97 DOM
-
2026-08-29days on market $489,000 Active 95 DOM
-
2026-08-28days on market $489,000 Active 94 DOM
-
2026-08-27days on market $489,000 Active 93 DOM
-
2026-08-25days on market $489,000 Active 91 DOM
-
2026-08-24days on market $489,000 Active 90 DOM
-
2026-08-23days on market $489,000 Active 89 DOM
-
2026-08-22days on market $489,000 Active 88 DOM
-
2026-08-21days on market $489,000 Active 87 DOM
-
2026-08-20days on market $489,000 Active 86 DOM
-
2026-08-19days on market $489,000 Active 85 DOM
-
2026-08-18days on market $489,000 Active 84 DOM
-
2026-08-17days on market $489,000 Active 83 DOM
-
2026-08-16days on market $489,000 Active 82 DOM
-
2026-08-15days on market $489,000 Active 81 DOM
-
2026-08-14days on market $489,000 Active 80 DOM
-
2026-08-13days on market $489,000 Active 79 DOM
-
2026-08-12days on market $489,000 Active 78 DOM
-
2026-08-11days on market $489,000 Active 77 DOM
-
2026-08-10days on market $489,000 Active 76 DOM
-
2026-08-09days on market $489,000 Active 75 DOM
-
2026-08-08days on market $489,000 Active 74 DOM
-
2026-08-07days on market $489,000 Active 73 DOM
-
2026-08-06days on market $489,000 Active 72 DOM
-
2026-08-05days on market $489,000 Active 71 DOM
-
2026-08-04days on market $489,000 Active 70 DOM
-
2026-08-03days on market $489,000 Active 69 DOM
-
2026-07-31days on market $489,000 Active 66 DOM
-
2026-07-30days on market $489,000 Active 65 DOM
-
2026-07-30days on market $489,000 Active 64 DOM
-
2026-07-28days on market $489,000 Active 63 DOM
-
2026-07-24days on market $489,000 Active 59 DOM
-
2026-07-23days on market $489,000 Active 58 DOM
-
2026-07-22days on market $489,000 Active 57 DOM
-
2026-07-21days on market $489,000 Active 56 DOM
-
2026-07-20days on market $489,000 Active 55 DOM
-
2026-07-18days on market $489,000 Active 53 DOM
-
2026-07-18days on market $489,000 Active 52 DOM
-
2026-07-16days on market $489,000 Active 51 DOM
-
2026-07-15days on market $489,000 Active 50 DOM
-
2026-07-14days on market $489,000 Active 49 DOM
-
2026-07-13days on market $489,000 Active 48 DOM
-
2026-07-13days on market $489,000 Active 47 DOM
-
2026-07-11days on market $489,000 Active 46 DOM
-
2026-07-10days on market $489,000 Active 45 DOM
-
2026-07-09days on market $489,000 Active 44 DOM
-
2026-07-07days on market $489,000 Active 42 DOM
-
2026-07-06days on market $489,000 Active 41 DOM
-
2026-07-05days on market $489,000 Active 40 DOM
-
2026-07-03days on market $489,000 Active 38 DOM
ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot
backfill from property_details.listing_events for pre-trigger history.
Climate risk First Street
- Flood 8/10 Severe FEMA zone AE · 75% 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
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
Loading nearby amenities…
Taxation est. · year 1
- Rental income
- $25,468
- − Mortgage interest
- −$27,392
- − Property taxes
- −$7,335
- − Insurance
- −$7,564
- − Repairs & maintenance
- −$2,037
- − Management
- −$2,037
- − Depreciation
- −$14,225
- Taxable loss
- −$35,123
combined federal + state — saved on this device
- Est. tax savings @ 24.0%
- +$8,429
- After-tax cash flow
- $-17,122/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.
Condition & rehab AI · 10 photos
45/100
Moderate rehab
Est. rehab $110,000–$198,000 screening
This multi-family property requires moderate renovations to its kitchens and bathrooms, as well as exterior painting, to increase its resale and rental value.
Repairs flagged
- Moderate kitchen cabinets — dated and in need of replacement
- Moderate bathroom vanity — dated and in need of replacement
- Moderate exterior siding — weathered and in need of repainting
- Moderate deck — weathered and in need of repair
Value-add opportunities
- Both kitchen renovation — modernizing the kitchen would increase both resale and rental value ↑
- Both bathroom renovation — modernizing the bathroom would increase both resale and rental value ↑
- Both exterior painting — painting the exterior would improve curb appeal and increase both resale and rental value ↑
ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.
F
Composite school gradezoned avg 22/100
Zoned Schools
Elementary
Mary Bethune Elementary Literature/technology
F
LA #415/646
Nat'l #32,000/41,679
High
Mcdonogh #35 College Preparatory School
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
A
Composite livability gradescore 81/100
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 · 513,025 people
- City population
- 338,817
- Metro
- New Orleans-Metairie, LA
- Population (ZIP)
- 35,253
- Household income
- $49,455
- Rent vs Own
- Severe rent burden
- 14% of renters
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
-10.9% since first listed7 events — show timeline
- 2026-05-26 Listed $489,000 AcadianaMLS
- 2026-05-26 Listed $489,000 GSREIN
- 2023-11-27 Listed $499,000 AcadianaMLS
- 2023-08-28 Rental Removed $950 GSREIN
- 2023-08-11 Listed for Rent $950 GSREIN
- 2023-05-26 Price Changed $549,000 GSREIN
- 2023-04-13 Listed $549,000 AcadianaMLS
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…