3215 Louisiana Avenue Pkwy · New Orleans, LA 70125

$135,000

4 bd · 4.0 ba · 2,502 sqft · MultiFamily public records · 48 Days on market

Built 1940 ↓ 28% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• 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

This property has great potential as a owner occupied with income property. The property has a basement that could also be converted to living are. The space is gutted and has a bath available. Very motivated seller.

Key facts

• Basement
• Bath available
• Living area

Tags

• BASEMENT
• INCOME PROPERTY
• LIVING AREA
• BATH AVAILABLE

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 27.8% 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; 217 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); 40% 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 $4,359/mo this rent would consume 86% of the median local household income ($61k/yr) (locally 1270% 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 $933 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 + 0.7% rent growth), your $38k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1940 — 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 $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 3.23% ✓
• Cap rate: 27.82%
• Cash-on-cash: 76.88%
• DSCR: 4.42
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $342,774
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2900 General Taylor St	0.30mi	4/4.0	2,322 (-7%)	8mo	$387,000	$167	67
3901 03 General Taylor St	0.42mi	4/4.0	2,634 (+5%)	10mo	$360,000	$137	64
3619-25 Delachaise St	0.26mi	4/4.0	2,162 (-14%)	7mo	$315,000	$146	60
2909 1st St	0.46mi	5/3.0 (+1)	2,654 (+6%)	3mo	$75,000	$28	57
3526 Louisiana Ave Pkwy	0.20mi	4/2.0	2,200 (-12%)	11mo	$153,000	$70	53
4324 26 Freret St	0.64mi	5/3.0 (+1)	2,522 (+1%)	8mo	$240,000	$95	53
2521 Robert St	0.73mi	4/2.5	2,489 (-0%)	10mo	$260,000	$104	51
3206 08 Cadiz St	0.49mi	4/2.0	2,418 (-3%)	16mo	$233,500	$97	50
4419 21 Fontainebleau Dr	0.74mi	4/2.0	2,399 (-4%)	8mo	$440,000	$183	44
4311 13 Fontainebleau Dr	0.67mi	4/2.0	2,397 (-4%)	14mo	$335,000	$140	42
1505 07 S White St	0.65mi	5/2.0 (+1)	2,268 (-9%)	3mo	$144,900	$64	38
4325 27 Jena St	0.68mi	4/2.0	2,149 (-14%)	3mo	$307,500	$143	35

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: 59.4%
• Equity multiple: 3.54×
• Total profit: $95,841
• Equity at exit: $20,129

10-year hold

• IRR: 63.2%
• Equity multiple: 6.57×
• Total profit: $210,463
• Equity at exit: $11,672

Cash invested: $37,800 (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 70125

• Home prices YoY: -16.3%
• Rents YoY: 0.7%
• Active inventory: 217
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $4,359 high
• Mortgage (P&I): −$708
• Tax from tax record: −$258 /mo · $3,093/yr
• Insurance: −$56
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$915
• Net cashflow: $1,995

Break-even live

Break-even rent $1,834

Max offer price $135,000

Occupancy floor 49%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$4,359
Total (3 units)			$4,359

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3200 Washington Ave Unit NA New Orleans, LA	4.0	3.0	2490	$3,400	$1.37	3d	1	0.11mi
3044 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1800	$1,900	$1.06	24d	1	0.13mi
3035 Delachaise St New Orleans, LA	3.0	1.0	1968	$1,750	$0.89	2d	1	0.16mi
4027 S Derbigny St New Orleans, LA	3.0	2.0	2950	$1,950	$0.66	24d	1	0.17mi
4442 S Johnson St Unit 4442 New Orleans, LA	4.0	4.5	3000	$4,500	$1.50	12d	1	0.42mi
3350 Jena St New Orleans, LA	3.0	2.5	2200	$2,500	$1.14	44d	1	0.43mi
2717 Milan St New Orleans, LA	3.0	1.5	1850	$1,650	$0.89	14d	1	0.45mi
2608 Magnolia St New Orleans, LA	4.0	2.5	1950	$3,200	$1.64	44d	1	0.47mi
2600 Peniston St New Orleans, LA	4.0	2.0	2342	$3,500	$1.49	44d	1	0.50mi
3112 Upperline St New Orleans, LA	5.0	3.5	2800	$3,650	$1.30	24d	1	0.57mi
2117 S Lopez St New Orleans, LA	5.0	2.0	1920	$2,000	$1.04	24d	1	0.69mi
1407 Magnolia St New Orleans, LA	3.0	2.0	1824	$1,500	$0.82	24d	1	0.74mi
5533 S Tonti St New Orleans, LA	4.0	4.0	3000	$3,000	$1.00	14d	1	0.75mi
2231 S Liberty St New Orleans, LA	3.0	3.5	1752	$2,000	$1.14	17d	1	0.76mi
4120 Erato St New Orleans, LA	3.0	2.0	2250	$1,750	$0.78	24d	1	0.77mi
3737 Nashville Ave New Orleans, LA	4.0	2.0	2000	$3,400	$1.70	21d	1	0.78mi
2308 Jena St New Orleans, LA	3.0	2.5	2550	$3,300	$1.29	44d	1	0.82mi
2625 Jefferson Ave New Orleans, LA	4.0	2.0	2000	$2,600	$1.30	44d	1	0.83mi
4435 Loyola Ave New Orleans, LA	3.0	2.0	1973	$2,900	$1.47	16d	1	0.86mi
3212 Danneel St New Orleans, LA	3.0	2.0	1945	$2,000	$1.03	24d	1	0.89mi
5718 Cucullu St New Orleans, LA	4.0	3.0	1873	$2,500	$1.33	17d	1	0.91mi
1927 Napoleon Ave New Orleans, LA	5.0	2.0	3350	$3,600	$1.07	44d	1	0.98mi
4213 Dryades St New Orleans, LA	4.0	2.0	2000	$2,800	$1.40	24d	1	0.99mi
2818 Palmer Ave New Orleans, LA	5.0	2.0	1832	$4,900	$2.67	44d	1	0.99mi
2301 Dryades St New Orleans, LA	3.0	3.0	2070	$3,000	$1.45	3d	1	1.00mi
2703 Palmer Ave New Orleans, LA	5.0	2.0	2349	$5,500	$2.34	44d	1	1.00mi
2715 Palmer Ave New Orleans, LA	5.0	2.0	2184	$4,900	$2.24	44d	1	1.00mi
2625 Baronne St Unit 1 New Orleans, LA	3.0	1.5	2100	$2,600	$1.24	44d	1	1.01mi
1907 Napoleon Ave New Orleans, LA	4.0	2.0	2500	$2,800	$1.12	17d	1	1.01mi
6326 S Johnson St Unit 1 New Orleans, LA	5.0	2.0	2013	$3,950	$1.96	44d	1	1.02mi
2217 Jefferson Ave Unit none New Orleans, LA	3.0	2.0	2500	$2,500	$1.00	44d	1	1.02mi
5516 S Robertson St Unit A New Orleans, LA	3.0	2.5	3614	$2,800	$0.77	44d	1	1.02mi
2205 Jefferson Ave New Orleans, LA	3.0	2.0	1800	$2,100	$1.17	10d	1	1.03mi
2824 Calhoun St Unit A New Orleans, LA	3.0	2.0	1828	$3,900	$2.13	44d	1	1.04mi
2229 Joseph St New Orleans, LA	4.0	2.0	1830	$4,000	$2.19	17d	1	1.04mi
2306 Octavia St New Orleans, LA	3.0	2.0	2254	$2,650	$1.18	3d	1	1.04mi
2738 Calhoun St New Orleans, LA	4.0	2.0	1900	$4,800	$2.53	3d	1	1.06mi
5830 Clara St Unit 1 New Orleans, LA	4.0	2.0	2100	$4,500	$2.14	44d	1	1.06mi
2325 State St New Orleans, LA	5.0	3.0	1800	$4,000	$2.22	24d	1	1.07mi
2322 Nashville Ave New Orleans, LA	4.0	2.0	2249	$2,750	$1.22	44d	1	1.09mi

Listing history 18 events

1. 2026-06-18
   days on market $135,000 Active 48 DOM
2. 2026-06-17
   days on market $135,000 Active 47 DOM
3. 2026-06-16
   days on market $135,000 Active 46 DOM
4. 2026-06-15
   days on market $135,000 Active 45 DOM
5. 2026-06-13
   days on market $135,000 Active 43 DOM
6. 2026-06-10
   pricestatusdays on market $135,000 Active 40 DOM
7. 2026-03-30
   status Pending 216-char remark

   Show marketing remark (216 chars)

   This property has great potential as a owner occupied with income property. The property has a basement that could also be converted to living are. The space is gutted and has a bath available. Very motivated seller.

8. 2026-03-30
   status Pending

   Show marketing remark (216 chars)

   This property has great potential as a owner occupied with income property. The property has a basement that could also be converted to living are. The space is gutted and has a bath available. Very motivated seller.

9. 2026-02-11
   listed $145,000 Active 216-char remark

   Show marketing remark (216 chars)

   This property has great potential as a owner occupied with income property. The property has a basement that could also be converted to living are. The space is gutted and has a bath available. Very motivated seller.

10. 2026-02-11
    listed $145,000 Active

    Show marketing remark (216 chars)

    This property has great potential as a owner occupied with income property. The property has a basement that could also be converted to living are. The space is gutted and has a bath available. Very motivated seller.

11. 2025-10-13
    price $145,000
12. 2025-10-13
    price $145,000
13. 2025-10-02
    price $160,000
14. 2025-10-02
    price $160,000
15. 2025-08-01
    listed $180,000 Active
16. 2022-01-21
    soldstatus $200,000
17. 2021-11-30
    listed $230,000
18. 2019-11-05
    soldstatus $200,000

ⓘ 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: $3,093 · $258/mo
• Projected year-2 tax: $3,093 · $258/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 AE · 78% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,308
• − Mortgage interest: −$7,562
• − Property taxes: −$3,093
• − Insurance: −$5,794
• − Repairs & maintenance: −$4,185
• − Management: −$4,185
• − Depreciation: −$3,927
• Taxable income: $23,563
• Est. tax owed @ 24.0%: −$5,655
• After-tax cash flow: $18,286/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): 17,821
• Household income: $61,174
• Rent vs Own: 53.3% rent · 46.7% own
• Severe rent burden: 1270.0

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: Black 51% White 32% Hispanic / Latino 9% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Romanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 1% Chinese 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: ▼ -49.68%
• Current HPI: 255.5998
• Rent YoY: ▲ 0.73%
• 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

-27.5% since first listed

12 events — show timeline

• 2026-03-30 Pending — AcadianaMLS
• 2026-03-30 Pending — GSREIN
• 2026-02-11 Listed $145,000 GSREIN
• 2026-02-11 Listed $145,000 AcadianaMLS
• 2025-10-13 Price Changed $145,000 AcadianaMLS
• 2025-10-13 Price Changed $145,000 GSREIN
• 2025-10-02 Price Changed $160,000 AcadianaMLS
• 2025-10-02 Price Changed $160,000 GSREIN
• 2025-08-01 Listed $180,000 AcadianaMLS
• 2022-01-21 Sold (Public Records) $200,000 Public Records
• 2021-11-30 Listed $230,000 AcadianaMLS
• 2019-11-05 Sold (Public Records) $200,000 Public Records

Property tax history

+3.4%/yr

Latest (2026): $3,093 · +3.6% YoY. Source: county tax records.