1026 Dumaine St · New Orleans, LA 70116

$750,000

28 bd · 18.0 ba · 3,228 sqft · MultiFamily · 118 Days on market

Built 1890 $232/sqft · 12% below area Est $855k · 12% under

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Why this score? — see what drove the C- 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 +19.5/30.0
• ARV discount +13.0/15.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• 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

Price Reduction! Prime French Quarter 4-plex located at the edge of the Quarter near Armstrong Park and surrounded by top restaurants, shopping, and entertainment. This well-maintained property features three 2-bedroom/1-bath units and one 1-bedroom/1.5-bath unit with functional floor plans, exposed brick, high ceilings, select wood floors, balconies, a shared courtyard, and central air for modern comfort. One unit (3A) is currently vacant with projected rent of $1,250/month, creating immediate upside for an investor or the perfect opportunity for an owner-occupant to live in one unit while generating income from the others. Own a true piece of New Orleans history in a premier location for a great price.

Key facts

• Exposed brick
• Balconies
• Shared courtyard

Tags

• FRENCH QUARTER 4-PLEX
• SHARED COURTYARD
• EXPOSED BRICK
• HIGH CEILINGS
• SELECT WOOD FLOORS
• BALCONIES

What this means for you Summary

Snapshot

• This is a 3×2bd/1ba + 1×1bd/1.5ba units multifamily listed at $750k.

Deal economics

• At list price, monthly cash flow is $790 ($9k/yr) — positive. Per door: $198/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $750k).
• Recommended offer: $682k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.7% 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.
• 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 flat; 351 active listings in the ZIP; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $7,645/mo this rent would consume 175% 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 $5k of loan paydown is wiped out by about $22k 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 118 days — a 9% lower offer ($682k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 33y ago; this cycle's ask has dropped $50k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $240k; list at $750k implies a 212% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1890 — 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 $682,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.02% ✓
• Cap rate: 7.66%
• Cash-on-cash: 4.89%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

• ARV (median comp): $854,949
• List price: $750,000
• Delta: -12.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.18% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.56×
• Total profit: $-92,157
• Equity at exit: $111,827

10-year hold

• IRR: -8.5%
• Equity multiple: 0.54×
• Total profit: $-96,648
• Equity at exit: $64,846

Cash invested: $210,000 (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: 351
• Price-to-rent: 32.3×

Monthly cashflow live

• Estimated rent: $7,645 high
• Mortgage (P&I): −$3,933
• Tax est. 1.5%: −$938 /mo · $11,250/yr
• Insurance: −$312
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,605
• Net cashflow: $790

Break-even live

Break-even rent $6,645

Max offer price $750,000

Occupancy floor 85%

Sensitivity live

Price	-10% $1,308	-5% $1,049	+0% $790	+5% $531	+10% $272
Rent	-10% $186	-5% $488	+0% $790	+5% $1,092	+10% $1,394
Rate	-1.0pp $1,168	-0.5pp $981	base $790	+0.5pp $596	+1.0pp $398

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,796
1× unit	1	1.5	$1,849
Total (4 units)			$7,645

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $750,000 Active 118 DOM
2. 2026-06-18
   days on market $750,000 Active 115 DOM
3. 2026-06-17
   days on market $750,000 Active 114 DOM
4. 2026-06-16
   days on market $750,000 Active 113 DOM
5. 2026-06-15
   days on market $750,000 Active 112 DOM
6. 2026-06-13
   days on market $750,000 Active 110 DOM
7. 2026-06-10
   days on market $750,000 Active 107 DOM
8. 2026-06-09
   days on market $750,000 Active 106 DOM
9. 2026-06-08
   days on market $750,000 Active 105 DOM
10. 2026-06-07
    days on market $750,000 Active 104 DOM
11. 2026-06-05
    days on market $750,000 Active 101 DOM
12. 2026-06-03
    days on market $750,000 Active 100 DOM
13. 2026-06-02
    days on market $750,000 Active 99 DOM
14. 2026-06-01
    days on market $750,000 Active 98 DOM
15. 2026-05-31
    days on market $750,000 Active 97 DOM
16. 2026-05-08
    price $750,000 713-char remark

    Show marketing remark (713 chars)

    Price Reduction! Prime French Quarter 4-plex located at the edge of the Quarter near Armstrong Park and surrounded by top restaurants, shopping, and entertainment. This well-maintained property features three 2-bedroom/1-bath units and one 1-bedroom/1.5-bath unit with functional floor plans, exposed brick, high ceilings, select wood floors, balconies, a shared courtyard, and central air for modern comfort. One unit (3A) is currently vacant with projected rent of $1,250/month, creating immediate upside for an investor or the perfect opportunity for an owner-occupant to live in one unit while generating income from the others. Own a true piece of New Orleans history in a premier location for a great price.

17. 2026-05-08
    price $750,000 713-char remark

    Show marketing remark (713 chars)

    Price Reduction! Prime French Quarter 4-plex located at the edge of the Quarter near Armstrong Park and surrounded by top restaurants, shopping, and entertainment. This well-maintained property features three 2-bedroom/1-bath units and one 1-bedroom/1.5-bath unit with functional floor plans, exposed brick, high ceilings, select wood floors, balconies, a shared courtyard, and central air for modern comfort. One unit (3A) is currently vacant with projected rent of $1,250/month, creating immediate upside for an investor or the perfect opportunity for an owner-occupant to live in one unit while generating income from the others. Own a true piece of New Orleans history in a premier location for a great price.

18. 2026-02-23
    listed $800,000 Active 713-char remark

    Show marketing remark (713 chars)

    Price Reduction! Prime French Quarter 4-plex located at the edge of the Quarter near Armstrong Park and surrounded by top restaurants, shopping, and entertainment. This well-maintained property features three 2-bedroom/1-bath units and one 1-bedroom/1.5-bath unit with functional floor plans, exposed brick, high ceilings, select wood floors, balconies, a shared courtyard, and central air for modern comfort. One unit (3A) is currently vacant with projected rent of $1,250/month, creating immediate upside for an investor or the perfect opportunity for an owner-occupant to live in one unit while generating income from the others. Own a true piece of New Orleans history in a premier location for a great price.

19. 2026-02-23
    listed $800,000 Active 713-char remark

    Show marketing remark (713 chars)

    Price Reduction! Prime French Quarter 4-plex located at the edge of the Quarter near Armstrong Park and surrounded by top restaurants, shopping, and entertainment. This well-maintained property features three 2-bedroom/1-bath units and one 1-bedroom/1.5-bath unit with functional floor plans, exposed brick, high ceilings, select wood floors, balconies, a shared courtyard, and central air for modern comfort. One unit (3A) is currently vacant with projected rent of $1,250/month, creating immediate upside for an investor or the perfect opportunity for an owner-occupant to live in one unit while generating income from the others. Own a true piece of New Orleans history in a premier location for a great price.

20. 2022-08-18
    price $899,000
21. 2022-06-13
    price $975,000
22. 2022-05-13
    listed $899,000
23. 2022-05-12
    price $1,150
24. 1998-08-06
    soldstatus $240,000
25. 1996-04-01
    listed $250,000
26. 1996-04-01
    listed $250,000
27. 1994-10-21
    soldstatus $195,000
28. 1993-12-01
    listed $199,500
29. 1993-12-01
    listed $199,500

ⓘ 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 7/10 Severe FEMA zone X (shaded) · 74% 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: $91,740
• − Mortgage interest: −$42,012
• − Property taxes: −$11,250
• − Insurance: −$4,548
• − Repairs & maintenance: −$7,339
• − Management: −$7,339
• − Depreciation: −$21,818
• Taxable loss: −$2,566
• Est. tax savings @ 24.0%: +$616
• After-tax cash flow: $10,096/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

+275.9% since first listed

14 events — show timeline

• 2026-05-08 Price Changed $750,000 AcadianaMLS
• 2026-05-08 Price Changed $750,000 GSREIN
• 2026-02-23 Listed $800,000 GSREIN
• 2026-02-23 Listed $800,000 AcadianaMLS
• 2022-08-18 Price Changed $899,000 GSREIN
• 2022-06-13 Price Changed $975,000 GSREIN
• 2022-05-13 Listed $899,000 AcadianaMLS
• 2022-05-12 Price Changed $1,150 RENT.
• 1998-08-06 Sold (MLS) $240,000 GSREIN
• 1996-04-01 Listed $250,000 AcadianaMLS
• 1996-04-01 Listed $250,000 GSREIN
• 1994-10-21 Sold (MLS) $195,000 GSREIN
• 1993-12-01 Listed $199,500 GSREIN
• 1993-12-01 Listed $199,500 AcadianaMLS