1311 13 Governor Nicholls St · New Orleans, LA 70116

$530,000

4 bd · 4.0 ba · 3,956 sqft · MultiFamily public records · 24 Days on market

Built 1900 Est $1048k · 49% 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 +29.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• 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: 4 units. confirmed

Listing remarks MLS

Great opportunity! 4-plex approximately 3 blocks from French Quarter in the Treme area. Each unit has 2 bedrooms, 1 bathroom. Great for homeowner or investor!

Key facts

• Built 1900
• Listed 24 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: 2-story residence; Raised foundation
• Construction: Wood siding construction; Shingle roof
• Exterior features: City lot; Rectangular lot; Lot dimensions approximately 40 x 90

Interior

• Bathrooms: 4 full bathrooms
• Heating & cooling: Window unit heating; Window unit cooling
• Interior features: Average condition

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $530k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $464/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $530k).
• Recommended offer: $522k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.6% 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $7,021/mo this rent would consume 161% 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 $4k of loan paydown is wiped out by about $16k 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 24 days — a 2% lower offer ($522k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $69k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $530k implies a 1162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — 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 $522,050 (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 1900 — 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: 1.32% ✓
• Cap rate: 10.65%
• Cash-on-cash: 15.54%
• DSCR: 1.69
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $1,048,340
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
823 Royal St	0.50mi	4/4.0	3,929 (-1%)	3mo	$1,640,000	$417	73
1328 Esplanade Ave	0.10mi	5/5.0 (+1)	3,579 (-10%)	6mo	$960,000	$268	65
825 Bourbon St	0.44mi	4/4.5	4,346 (+10%)	1mo	$1,150,000	$265	60
716 Marigny St	0.68mi	4/3.5	3,624 (-8%)	13mo	$720,000	$199	42
1221 N Tonti St	0.72mi	4/4.5	4,505 (+14%)	2mo	$950,000	$211	40
2237 Royal St	0.68mi	5/5.0 (+1)	3,400 (-14%)	16mo	$700,000	$206	23

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: 2.4%
• Equity multiple: 1.09×
• Total profit: $13,068
• Equity at exit: $79,025

10-year hold

• IRR: 9.0%
• Equity multiple: 1.60×
• Total profit: $88,940
• Equity at exit: $45,825

Cash invested: $148,400 (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: 25.2×

Monthly cashflow live

• Estimated rent: $7,021 high
• Mortgage (P&I): −$2,779
• Tax from tax record: −$624 /mo · $7,488/yr
• Insurance: −$221
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,474
• Net cashflow: $1,856

Break-even live

Break-even rent $4,672

Max offer price $530,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$7,020
Total (4 units)			$7,021

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: $132,500
• Closing costs: $15,900
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1608 Governor Nicholls St Unit D New Orleans, LA	5.0	3.5	5245	$4,000	$0.76	43d	1	0.17mi
1608 Governor Nicholls St Unit D New Orleans, LA	5.0	3.5	5245	$4,000	$0.76	23d	1	0.17mi
1000 Saint Philip St New Orleans, LA	3.0	2.5	2650	$4,800	$1.81	43d	1	0.27mi
839 Dumaine St New Orleans, LA	3.0	4.0	2740	$6,500	$2.37	43d	1	0.37mi
1860 Burgundy St New Orleans, LA	4.0	4.0	3000	$3,500	$1.17	23d	1	0.39mi
3232 Grand Rte Saint John St New Orleans, LA	3.0	3.0	2800	$5,000	$1.79	23d	1	1.45mi

Listing history 20 events

1. 2026-06-18
   days on market $530,000 Active 24 DOM
2. 2026-06-17
   days on market $530,000 Active 23 DOM
3. 2026-06-16
   days on market $530,000 Active 22 DOM
4. 2026-06-15
   days on market $530,000 Active 21 DOM
5. 2026-06-13
   days on market $530,000 Active 19 DOM
6. 2026-06-10
   days on market $530,000 Active 16 DOM
7. 2026-06-09
   days on market $530,000 Active 15 DOM
8. 2026-06-08
   days on market $530,000 Active 14 DOM
9. 2026-06-07
   days on market $530,000 Active 13 DOM
10. 2026-06-05
    days on market $530,000 Active 10 DOM
11. 2026-06-03
    days on market $530,000 Active 9 DOM
12. 2026-06-02
    days on market $530,000 Active 8 DOM
13. 2026-06-01
    days on market $530,000 Active 7 DOM
14. 2026-05-31
    days on market $530,000 Active 6 DOM
15. 2026-05-18
    listed $599,000 Active

    Show marketing remark (158 chars)

    Great opportunity! 4-plex approximately 3 blocks from French Quarter in the Treme area. Each unit has 2 bedrooms, 1 bathroom. Great for homeowner or investor!

16. 2026-05-18
    listed $599,000 Active 158-char remark

    Show marketing remark (158 chars)

    Great opportunity! 4-plex approximately 3 blocks from French Quarter in the Treme area. Each unit has 2 bedrooms, 1 bathroom. Great for homeowner or investor!

17. 2015-05-22
    historical
18. 2015-05-13
    listed $849,000 Active
19. 2014-05-21
    listed $849,000
20. 1996-07-26
    soldstatus $42,000

ⓘ 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: $7,488 · $624/mo
• Projected year-2 tax: $7,488 · $624/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: $84,252
• − Mortgage interest: −$29,688
• − Property taxes: −$7,488
• − Insurance: −$3,448
• − Repairs & maintenance: −$6,740
• − Management: −$6,740
• − Depreciation: −$15,418
• Taxable income: $14,730
• Est. tax owed @ 24.0%: −$3,535
• After-tax cash flow: $18,736/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

+1326.2% since first listed

6 events — show timeline

• 2026-05-18 Listed $599,000 AcadianaMLS
• 2026-05-18 Listed $599,000 GSREIN
• 2015-05-22 Listing Removed — GSREIN
• 2015-05-13 Listed $849,000 GSREIN
• 2014-05-21 Listed $849,000 AcadianaMLS
• 1996-07-26 Sold (Public Records) $42,000 Public Records

Property tax history

+8.9%/yr

Latest (2026): $7,488 · -0.4% YoY. Source: county tax records.