2109 11 Mandeville St · New Orleans, LA 70117

$195,000

4 bd · 2.0 ba · 1,638 sqft · MultiFamily public records · 256 Days on market

Built 1930 3,841 sqft lot $119/sqft · at area comps Est $197k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +8.0/15.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Discover the authentic charm of New Orleans living in this classic shotgun double located at 2109-2111 Mandeville St. This income-producing property (or ideal owner-occupant unit with rental income) features two 2-bed, 1-bath units on each side, each boasting that unmistakable New Orleans character. The traditional, flowing shotgun layout is complemented by high ceilings and an abundance of natural light. Each kitchen provides plenty of cabinet space for all your cooking needs. A major highlight is the expansive backyard, a rare and coveted feature in the city, great for gardening, entertaining, or simply enjoying the beautiful New Orleans weather. Whether you're looking for a solid investment or a place to call home with a built-in mortgage helper, this historic double is brimming with potential. Don't miss this opportunity to own a piece of The Big Easy's architectural heritage!

Key facts

• Expansive backyard
• High ceilings
• 3,841 sq ft lot

Tags

• EXPANSIVE BACKYARD
• TRADITIONAL SHOTGUN LAYOUT
• HIGH CEILINGS
• ABUNDANCE OF NATURAL LIGHT
• PLENTY OF CABINET SPACE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $931 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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 rising (+2.5%/yr); 581 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,863/mo this rent would consume 75% of the median local household income ($46k/yr) (locally 1988% 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 $1k of loan paydown is wiped out by about $6k 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 + 2.5% rent growth), your $55k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 256 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 4 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 $66/mo; built in 1930 — 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 256 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 1930 — 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: 1.47% ✓
• Cap rate: 12.43%
• Cash-on-cash: 21.93%
• DSCR: 1.98
• GRM: 5.7

CMA / ARV

• ARV (median comp): $197,097
• List price: $195,000
• Delta: -1.06%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2211 13 Mandeville St	0.07mi	4/2.0	1,644 (+0%)	2mo	$195,000	$119	94
1727 29 Marigny St	0.26mi	4/2.0	1,716 (+5%)	1mo	$285,000	$166	79
2105 07 Arts St	0.27mi	4/3.0	1,598 (-2%)	3mo	$265,000	$166	77
1834 36 Marigny St	0.20mi	4/2.0	1,508 (-8%)	2mo	$215,000	$143	76
2038 Elysian Fields Ave	0.19mi	4/3.0	1,704 (+4%)	7mo	$240,000	$141	74
2467/2469 N Tonti St	0.22mi	4/2.0	1,475 (-10%)	2mo	$175,000	$119	71
2132 Touro St	0.32mi	4/2.0	1,550 (-5%)	6mo	$169,000	$109	71
2517 N Miro St	0.30mi	4/2.0	1,857 (+13%)	7mo	$50,000	$27	58
2134 Annette St	0.53mi	4/4.0	1,816 (+11%)	3mo	$210,000	$116	47
1332 Port St	0.65mi	3/2.0 (-1)	1,475 (-10%)	6mo	$181,000	$123	43
1345 Saint Anthony St	0.72mi	5/2.5 (+1)	1,776 (+8%)	7mo	$60,000	$34	40
1923-25 Pauger St	0.71mi	4/2.0	1,879 (+15%)	4mo	$70,000	$37	39

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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.48×
• Total profit: $26,286
• Equity at exit: $29,075

10-year hold

• IRR: 20.7%
• Equity multiple: 2.71×
• Total profit: $93,462
• Equity at exit: $16,860

Cash invested: $54,600 (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 70117

• Rents YoY: 2.5%
• Active inventory: 581
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,863 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$160 /mo · $1,922/yr
• Insurance: −$81
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$601
• Net cashflow: $931

Break-even live

Break-even rent $1,684

Max offer price $195,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,864
Total (2 units)			$2,863

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	24d	1	0.02mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	3d	1	0.14mi
2115 Elysian Fields Ave Unit 2115 New Orleans, LA	3.0	1.0	1100	$1,450	$1.32	24d	1	0.14mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	24d	1	0.20mi
1710 Marigny St New Orleans, LA	3.0	2.0	1120	$1,750	$1.56	24d	1	0.29mi
2515 N Galvez St New Orleans, LA	4.0	2.0	1200	$1,200	$1.00	10d	1	0.29mi
2515 N Galvez St Unit 2515 New Orleans, LA	4.0	2.0	1200	$1,900	$1.58	24d	1	0.29mi
2522 N Galvez St New Orleans, LA	3.0	2.0	1105	$1,675	$1.52	24d	1	0.30mi
2524 N Galvez St New Orleans, LA	3.0	2.5	1102	$1,800	$1.63	17d	1	0.30mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	16d	1	0.31mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	24d	1	0.33mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	24d	1	0.40mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.46mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.46mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	24d	1	0.50mi
1923 N Robertson St New Orleans, LA	3.0	2.0	1051	$1,950	$1.86	3d	1	0.54mi
2338 Annette St Unit 1 New Orleans, LA	3.0	1.0	1150	$1,400	$1.22	20d	1	0.56mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	44d	1	0.68mi
2152 Abundance St Unit 2152 New Orleans, LA	3.0	2.0	1100	$1,599	$1.45	3d	1	0.71mi
2817 Annette St New Orleans, LA	3.0	1.0	1100	$1,350	$1.23	24d	1	0.72mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	16d	1	0.77mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	3d	2	0.78mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	16d	1	0.78mi
2114 Feliciana St Unit A New Orleans, LA	3.0	2.0	1134	$1,500	$1.32	24d	1	0.78mi
2338 40 Annette St New Orleans, LA	3.0	1.0	1150	$1,385	$1.20	20d	1	0.83mi
2331 Feliciana St New Orleans, LA	3.0	2.0	1250	$1,850	$1.48	24d	1	0.85mi
2322 Burgundy St Unit C New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	24d	1	0.87mi
1735 N Tonti St New Orleans, LA	3.0	1.0	1197	$1,650	$1.38	24d	1	0.90mi
2310 George Nick Connor Dr New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	24d	1	0.90mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	44d	1	0.92mi
1472 N Claiborne Ave New Orleans, LA	3.0	1.0	1312	$1,900	$1.45	16d	1	0.92mi
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	0.94mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	44d	1	0.94mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	24d	1	0.94mi
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	16d	1	0.94mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	0.94mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	3d	1	0.95mi
1217 Kerlerec St Unit B New Orleans, LA	3.0	1.0	1300	$2,100	$1.62	3d	1	0.95mi
3327 Elysian Fields Ave New Orleans, LA	3.0	1.0	1200	$1,300	$1.08	24d	1	0.95mi
1822 Piety St New Orleans, LA	3.0	1.5	1200	$1,500	$1.25	16d	1	0.97mi

Listing history 26 events

1. 2026-06-18
   days on market $195,000 Active 256 DOM
2. 2026-06-17
   days on market $195,000 Active 255 DOM
3. 2026-06-16
   days on market $195,000 Active 254 DOM
4. 2026-06-15
   days on market $195,000 Active 253 DOM
5. 2026-06-13
   days on market $195,000 Active 251 DOM
6. 2026-06-10
   days on market $195,000 Active 248 DOM
7. 2026-06-09
   days on market $195,000 Active 247 DOM
8. 2026-06-08
   days on market $195,000 Active 246 DOM
9. 2026-06-07
   days on market $195,000 Active 245 DOM
10. 2026-06-05
    days on market $195,000 Active 242 DOM
11. 2026-06-03
    days on market $195,000 Active 241 DOM
12. 2026-06-02
    days on market $195,000 Active 240 DOM
13. 2026-06-01
    days on market $195,000 Active 239 DOM
14. 2026-05-31
    days on market $195,000 Active 238 DOM
15. 2025-10-05
    listed $195,000 Active 893-char remark

    Show marketing remark (893 chars)

    Discover the authentic charm of New Orleans living in this classic shotgun double located at 2109-2111 Mandeville St. This income-producing property (or ideal owner-occupant unit with rental income) features two 2-bed, 1-bath units on each side, each boasting that unmistakable New Orleans character. The traditional, flowing shotgun layout is complemented by high ceilings and an abundance of natural light. Each kitchen provides plenty of cabinet space for all your cooking needs. A major highlight is the expansive backyard, a rare and coveted feature in the city, great for gardening, entertaining, or simply enjoying the beautiful New Orleans weather. Whether you're looking for a solid investment or a place to call home with a built-in mortgage helper, this historic double is brimming with potential. Don't miss this opportunity to own a piece of The Big Easy's architectural heritage!

16. 2024-09-10
    historical $950
17. 2024-09-06
    price $950
18. 2024-09-05
    listed $818
19. 2024-09-04
    historical $950
20. 2024-09-02
    listed $950
21. 2023-08-29
    historical $950
22. 2023-08-11
    price $950
23. 2023-07-31
    price $1,000
24. 2023-07-27
    listed $1,100
25. 2023-07-19
    historical $1,200
26. 2023-07-06
    historical

ⓘ 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: $1,922 · $160/mo
• Projected year-2 tax: $1,922 · $160/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 ≥108°F today · 22 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: $34,356
• − Mortgage interest: −$10,923
• − Property taxes: −$1,922
• − Insurance: −$1,772
• − Repairs & maintenance: −$2,748
• − Management: −$2,748
• − Depreciation: −$5,673
• Taxable income: $8,569
• Est. tax owed @ 24.0%: −$2,056
• After-tax cash flow: $9,119/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): 25,652
• Household income: $45,764
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1988.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 30% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 5% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 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: ▼ -177.22%
• Current HPI: 184.6061
• Rent YoY: ▲ 2.49%
• 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

+16150.0% since first listed

12 events — show timeline

• 2025-10-05 Listed $195,000 GSREIN
• 2024-09-10 Rental Removed $950 TURBOTENANT
• 2024-09-06 Price Changed $950 TURBOTENANT
• 2024-09-05 Listed for Rent $818 TURBOTENANT
• 2024-09-04 Rental Removed $950 TURBOTENANT
• 2024-09-02 Listed for Rent $950 TURBOTENANT
• 2023-08-29 Rental Removed $950 APPFOLIO
• 2023-08-11 Price Changed $950 APPFOLIO
• 2023-07-31 Price Changed $1,000 APPFOLIO
• 2023-07-27 Listed for Rent $1,100 APPFOLIO
• 2023-07-19 Rental Removed $1,200 APPFOLIO
• 2023-07-06 Rental Removed — TURBOTENANT

Property tax history

+23.9%/yr

Latest (2026): $1,922 · +1.1% YoY. Source: county tax records.