530-32 Tupelo St · New Orleans, LA 70117

$149,900

None bd · None ba · 1,900 sqft · MultiFamily · 151 Days on market

Good condition 2,178 sqft lot $79/sqft · 11% below area Est $168k · 11% under ↓ 3% 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
• ARV discount +12.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +3.1/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

CALLING ALL INVESTORS or OWNER OCCUPANTS TO BRING OFFERS. Located just a short walk from the Mississippi River in the desirable Holy Cross neighborhood, this solid brick double offers a rare opportunity for owner-occupants or investors alike. Each side features 2 spacious bedrooms and 1 full bath, combining historic charm with functional living space. Enjoy the perks of off-street parking. Whether you're looking to live in one unit and rent the other, or expand your investment portfolio, this property offers flexibility and great potential. Don't miss this unique opportunity to own a well-maintained multi-family property in one of the city's most charming riverfront communities. Measurements are approximate and should be verified by buyer and/or buyer's agent. Seller is motivated, bring offers

Key facts

• Mississippi river
• Off-street parking
• 2,178 sq ft lot

Tags

• MISSISSIPPI RIVER
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a multifamily listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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; 26 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,746/mo this rent would consume 72% 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 $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 + 2.5% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 10y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.83% ✓
• Cap rate: 15.37%
• Cash-on-cash: 32.40%
• DSCR: 2.44
• GRM: 4.5

CMA / ARV

• ARV (median comp): $167,612
• List price: $149,900
• Delta: -10.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6004-06 Dauphine Sq	0.14mi	—/—	1,976 (+4%)	4mo	$224,000	$113	84
1028-30 Tricou St	0.34mi	7/3.0	1,790 (-6%)	2mo	$260,000	$145	73
5717 19 Royal St	0.17mi	4/2.0	1,716 (-10%)	14mo	$175,000	$102	65
5443 45 Douglas St	0.35mi	3/2.0	1,770 (-7%)	14mo	$210,000	$119	61
1008 10 Charbonnet St	0.34mi	6/2.0	2,016 (+6%)	16mo	$46,000	$23	61
1008-10 Charbonnet St	0.34mi	—/—	2,016 (+6%)	16mo	$46,000	$23	61
539 41 Angela St	0.46mi	3/3.0	2,030 (+7%)	11mo	$215,000	$106	58
410-12 Community St	0.71mi	4/3.0	1,958 (+3%)	18mo	$270,000	$138	47
6438 Urville St	0.60mi	4/2.0	2,135 (+12%)	23mo	$53,000	$25	32

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: 26.9%
• Equity multiple: 2.11×
• Total profit: $46,537
• Equity at exit: $22,351

10-year hold

• IRR: 34.2%
• Equity multiple: 4.05×
• Total profit: $127,951
• Equity at exit: $12,961

Cash invested: $41,972 (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: 9.1×

Monthly cashflow live

• Estimated rent: $2,746 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $1,133

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,746
Total (2 units)			$2,746

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5450 Burgundy St New Orleans, LA	2.0	1.0	1474	$1,250	$0.85	23d	1	0.38mi
1201 Gordon St New Orleans, LA	3.0	2.5	1367	$1,900	$1.39	17d	1	0.45mi
617 Forstall St New Orleans, LA	3.0	2.0	1262	$2,200	$1.74	3d	1	0.56mi
6900 Royal St Arabi, LA	3.0	2.0	1579	$5,888	$3.73	2d	1	0.56mi
619 Reynes St New Orleans, LA	3.0	2.0	1318	$2,100	$1.59	16d	1	0.62mi
438 Friscoville Ave Arabi, LA	3.0	2.0	1500	$3,200	$2.13	2d	1	0.62mi
1714 Tricou St New Orleans, LA	3.0	2.0	1271	$1,900	$1.49	23d	1	0.84mi
1901 Tupelo St New Orleans, LA	3.0	2.5	1568	$2,300	$1.47	3d	1	0.96mi
2012 Esteban St Arabi, LA	3.0	2.0	1466	$2,500	$1.71	10d	1	1.17mi
1529 Schnell Dr Arabi, LA	3.0	2.5	1736	$2,600	$1.50	1d	1	1.26mi
4317 Urquhart St New Orleans, LA	3.0	2.0	1300	$1,650	$1.27	23d	1	1.34mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	11d	1	1.38mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	2d	1	1.38mi
4318 1/2 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	3d	1	1.38mi
740 Mazant St New Orleans, LA	2.0	2.0	1750	$2,200	$1.26	23d	1	1.38mi
4318 N Robertson St New Orleans, LA	3.0	1.0	1250	$1,150	$0.92	3d	1	1.38mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	23d	1	1.44mi
309 Fawn Dr Arabi, LA	3.0	2.5	1745	$2,500	$1.43	1d	1	1.46mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	3d	1	1.46mi
4230 N Claiborne Ave New Orleans, LA	3.0	2.5	1296	$1,750	$1.35	23d	1	1.46mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	2d	1	1.48mi
7532 Patricia St Arabi, LA	3.0	2.0	1850	$1,900	$1.03	2d	1	1.48mi
1825 Murl St New Orleans, LA	3.0	2.0	2484	$1,750	$0.70	23d	1	1.48mi
1119 Bartholomew St Unit 1119 New Orleans, LA	2.0	2.0	1410	$2,500	$1.77	43d	1	1.48mi
3900 Royal St Unit 2A New Orleans, LA	2.0	2.0	1300	$3,000	$2.31	3d	1	1.48mi
3000 Americus St New Orleans, LA	3.0	2.0	1280	$1,400	$1.09	23d	1	1.49mi

Listing history 24 events

1. 2026-06-18
   days on market $149,900 Active 151 DOM
2. 2026-06-17
   days on market $149,900 Active 150 DOM
3. 2026-06-16
   days on market $149,900 Active 149 DOM
4. 2026-06-15
   days on market $149,900 Active 148 DOM
5. 2026-06-13
   days on market $149,900 Active 146 DOM
6. 2026-06-10
   days on market $149,900 Active 143 DOM
7. 2026-06-09
   days on market $149,900 Active 142 DOM
8. 2026-06-08
   days on market $149,900 Active 141 DOM
9. 2026-06-07
   days on market $149,900 Active 140 DOM
10. 2026-06-05
    days on market $149,900 Active 137 DOM
11. 2026-06-03
    days on market $149,900 Active 136 DOM
12. 2026-06-02
    days on market $149,900 Active 135 DOM
13. 2026-06-01
    days on market $149,900 Active 134 DOM
14. 2026-05-31
    days on market $149,900 Active 133 DOM
15. 2026-04-29
    status Active 804-char remark

    Show marketing remark (804 chars)

    CALLING ALL INVESTORS or OWNER OCCUPANTS TO BRING OFFERS. Located just a short walk from the Mississippi River in the desirable Holy Cross neighborhood, this solid brick double offers a rare opportunity for owner-occupants or investors alike. Each side features 2 spacious bedrooms and 1 full bath, combining historic charm with functional living space. Enjoy the perks of off-street parking. Whether you're looking to live in one unit and rent the other, or expand your investment portfolio, this property offers flexibility and great potential. Don't miss this unique opportunity to own a well-maintained multi-family property in one of the city's most charming riverfront communities. Measurements are approximate and should be verified by buyer and/or buyer's agent. Seller is motivated, bring offers

16. 2026-04-16
    status Pending 804-char remark

    Show marketing remark (804 chars)

    CALLING ALL INVESTORS or OWNER OCCUPANTS TO BRING OFFERS. Located just a short walk from the Mississippi River in the desirable Holy Cross neighborhood, this solid brick double offers a rare opportunity for owner-occupants or investors alike. Each side features 2 spacious bedrooms and 1 full bath, combining historic charm with functional living space. Enjoy the perks of off-street parking. Whether you're looking to live in one unit and rent the other, or expand your investment portfolio, this property offers flexibility and great potential. Don't miss this unique opportunity to own a well-maintained multi-family property in one of the city's most charming riverfront communities. Measurements are approximate and should be verified by buyer and/or buyer's agent. Seller is motivated, bring offers

17. 2026-02-24
    price $149,900 804-char remark

    Show marketing remark (804 chars)

    CALLING ALL INVESTORS or OWNER OCCUPANTS TO BRING OFFERS. Located just a short walk from the Mississippi River in the desirable Holy Cross neighborhood, this solid brick double offers a rare opportunity for owner-occupants or investors alike. Each side features 2 spacious bedrooms and 1 full bath, combining historic charm with functional living space. Enjoy the perks of off-street parking. Whether you're looking to live in one unit and rent the other, or expand your investment portfolio, this property offers flexibility and great potential. Don't miss this unique opportunity to own a well-maintained multi-family property in one of the city's most charming riverfront communities. Measurements are approximate and should be verified by buyer and/or buyer's agent. Seller is motivated, bring offers

18. 2026-01-05
    listed $175,000 Active 804-char remark

    Show marketing remark (804 chars)

    CALLING ALL INVESTORS or OWNER OCCUPANTS TO BRING OFFERS. Located just a short walk from the Mississippi River in the desirable Holy Cross neighborhood, this solid brick double offers a rare opportunity for owner-occupants or investors alike. Each side features 2 spacious bedrooms and 1 full bath, combining historic charm with functional living space. Enjoy the perks of off-street parking. Whether you're looking to live in one unit and rent the other, or expand your investment portfolio, this property offers flexibility and great potential. Don't miss this unique opportunity to own a well-maintained multi-family property in one of the city's most charming riverfront communities. Measurements are approximate and should be verified by buyer and/or buyer's agent. Seller is motivated, bring offers

19. 2025-12-07
    listed $1,250
20. 2025-06-25
    listed $199,000 Active
21. 2024-06-07
    listed $249,000 Active
22. 2023-03-13
    listed $249,000
23. 2017-01-31
    listed $155,000
24. 2016-09-12
    listed $155,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $32,952
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$2,636
• − Management: −$2,636
• − Depreciation: −$4,361
• Taxable income: $11,924
• Est. tax owed @ 24.0%: −$2,862
• After-tax cash flow: $10,739/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained multi-family property in the Holy Cross neighborhood offers a rare opportunity for investors or owner-occupants. The property is in good condition with minimal repairs needed.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and property value
• Both Replace windows — Improves energy efficiency and property value
• Both Replace HVAC unit — Improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and property value ↑
• Both Replace windows — Improves energy efficiency and property value ↑
• Both Replace HVAC unit — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-3.3% since first listed

10 events — show timeline

• 2026-04-29 Relisted — AcadianaMLS
• 2026-04-16 Pending — AcadianaMLS
• 2026-02-24 Price Changed $149,900 AcadianaMLS
• 2026-01-05 Listed $175,000 AcadianaMLS
• 2025-12-07 Listed for Rent $1,250 GSREIN
• 2025-06-25 Listed $199,000 AcadianaMLS
• 2024-06-07 Listed $249,000 AcadianaMLS
• 2023-03-13 Listed $249,000 AcadianaMLS
• 2017-01-31 Listed $155,000 AcadianaMLS
• 2016-09-12 Listed $155,000 AcadianaMLS