8650-52 Gervais St · New Orleans, LA 70127

$140,000

5 bd · 3.0 ba · 2,249 sqft · MultiFamily public records · 29 Days on market

Built 1970 Est $196k · 28% 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: 3 units. confirmed

Listing remarks

Good for owner occupied or investment property. Each side has its own off street parking.

Key facts

• Off street parking
• Listed 29 days

Tags

• OFF STREET PARKING

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/2.7-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $710/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.1% 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.
• 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: 130 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.
• Current owner paid $80k; list at $140k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $137,900 (1.5% below list)

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 1970 — 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: 2.85% ✓
• Cap rate: 25.12%
• Cash-on-cash: 67.25%
• DSCR: 3.99
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $195,663
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8821-23 Dinkins St	0.12mi	5/3.0	2,166 (-4%)	7mo	$195,000	$90	82
8601 Dinkins St	0.10mi	5/3.0	2,303 (+2%)	12mo	$160,000	$69	81
8921 23 Gervais St	0.04mi	5/3.0	2,373 (+6%)	14mo	$194,000	$82	77
8631 33 Dinkins St	0.08mi	5/3.0	2,010 (-11%)	3mo	$160,000	$80	76
8712 Dinkins St	0.06mi	5/3.0	2,150 (-4%)	20mo	$152,000	$71	73
8520 22 Bill St	0.14mi	5/3.0	2,060 (-8%)	11mo	$180,000	$87	71
8901 03 Dinkins St	0.16mi	5/2.0	2,165 (-4%)	18mo	$225,000	$104	67
8018 20 Gus St	0.18mi	5/3.0	1,992 (-11%)	18mo	$179,000	$90	58
7120 22 Bunker Hill Rd	0.48mi	5/3.0	2,450 (+9%)	6mo	$212,500	$87	57
7100 02 Bunker Hill Rd	0.51mi	5/3.0	2,450 (+9%)	8mo	$225,000	$92	54
9110 Morrison Rd	0.42mi	6/4.0 (+1)	2,528 (+12%)	13mo	$230,000	$91	40
8830 32 Bunker Hill Rd	0.69mi	4/3.0 (-1)	2,400 (+7%)	23mo	$165,000	$69	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 64.4%
• Equity multiple: 3.89×
• Total profit: $113,095
• Equity at exit: $20,874

10-year hold

• IRR: 68.8%
• Equity multiple: 7.98×
• Total profit: $273,573
• Equity at exit: $12,105

Cash invested: $39,200 (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 70127

• Home prices YoY: -29.2%
• Active inventory: 130
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $3,985 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$159 /mo · $1,905/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$837
• Net cashflow: $2,130

Break-even live

Break-even rent $1,288

Max offer price $140,000

Occupancy floor 42%

Sensitivity live

Price	-10% $2,210	-5% $2,170	+0% $2,130	+5% $2,091	+10% $2,051
Rent	-10% $1,816	-5% $1,973	+0% $2,130	+5% $2,288	+10% $2,445
Rate	-1.0pp $2,201	-0.5pp $2,166	base $2,130	+0.5pp $2,094	+1.0pp $2,057

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	2.7	$3,984
Total (3 units)			$3,985

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7063 Boston Dr New Orleans, LA	4.0	2.5	1750	$1,900	$1.09	17d	1	0.55mi
7500 Symmes Ave New Orleans, LA	4.0	2.0	1400	$2,100	$1.50	25d	1	0.75mi

Listing history 5 events

1. 2026-04-01
   status Pending
2. 2026-03-02
   listed $140,000 Active
3. 2026-02-24
   status Active
4. 2025-09-09
   listed $175,000 Active
5. 1985-11-07
   soldstatus $80,000

ⓘ 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: $1,905 · $159/mo
• Projected year-2 tax: $1,905 · $159/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 (shaded) · 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: $47,820
• − Mortgage interest: −$7,842
• − Property taxes: −$1,905
• − Insurance: −$1,498
• − Repairs & maintenance: −$3,826
• − Management: −$3,826
• − Depreciation: −$4,073
• Taxable income: $24,852
• Est. tax owed @ 24.0%: −$5,964
• After-tax cash flow: $19,601/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): 23,107
• Household income: $40,765
• Rent vs Own: 53.0% rent · 47.0% own
• Severe rent burden: 2030.0

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 (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 4% Two or more races 4% White 2%
• Common ancestry: Lithuanian 1% Hispanic 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 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: ▼ -72.43%
• Current HPI: 175.4465
• Rent YoY: —
• 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

+75.0% since first listed

5 events — show timeline

• 2026-04-01 Pending — AcadianaMLS
• 2026-03-02 Listed $140,000 AcadianaMLS
• 2026-02-24 Relisted — AcadianaMLS
• 2025-09-09 Listed $175,000 AcadianaMLS
• 1985-11-07 Sold (Public Records) $80,000 Public Records

Property tax history

-0.4%/yr

Latest (2026): $1,905 · +1.1% YoY. Source: county tax records.