2717 21 2nd St · New Orleans, LA 70113

$189,000

4 bd · 2.0 ba · 1,176 sqft · MultiFamily public records · 55 Days on market

Built 2007 1,890 sqft lot $161/sqft · at area comps Est $239k · 21% under

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Why this score? — see what drove the A 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 +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.3/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Income-Producing Double with rents of total of $1800.00 or $900.00 on each side. in the Heart of Central City! Looking for a smart investment or a home that helps pay for itself? This well-maintained double in Central City is your answer! Live on one side and let the other unit generate rental income to help cover your monthly payment. Each unit is in great condition, offering comfortable living spaces, separate entrances, and strong income potential. Whether you're a first-time buyer or seasoned investor, this property is a win-win opportunity. Located just minutes from Downtown, public transportation, and local amenities—this is an ideal location for convenience and value. Don't mis

Key facts

• Local amenities
• Separate entrances
• 1,890 sq ft lot

Tags

• SEPARATE ENTRANCES
• STRONG INCOME POTENTIAL
• MINUTES FROM DOWNTOWN
• PUBLIC TRANSPORTATION
• LOCAL AMENITIES

Property features AI

Finance

• Other: Raised foundation noted; Total of 2 units
• Financial info: Unit 17 currently rents for $900; Unit 19 currently rents for $900
• HOA & community: No HOA information provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Single-story building; Raised foundation; Multifamily property with 2 total units
• Construction: No year-built or construction material provided
• Exterior features: City lot; Rectangular lot; Lot dimensions approximately 30 x 90

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Two 1-bedroom units (Units 17 and 19)
• Flooring: No flooring details provided
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Window-unit cooling; Window-unit heating
• Interior features: Average condition
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $189k.

Deal economics

• At list price, monthly cash flow is $725 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $189k).
• Recommended offer: $183k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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 fast (+6.0%/yr); 137 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); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Orleans County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 6.0% rent growth), your $53k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 25y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $100k; list at $189k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe 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 $183,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.33% ✓
• Cap rate: 11.32%
• Cash-on-cash: 17.96%
• DSCR: 1.80
• GRM: 6.3

CMA / ARV

• ARV (median comp): $239,162
• List price: $189,000
• Delta: -20.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 5.98% rent growth · sell at horizon

5-year hold

• IRR: 37.9%
• Equity multiple: 3.96×
• Total profit: $156,886
• Equity at exit: $170,266

10-year hold

• IRR: 33.8%
• Equity multiple: 9.38×
• Total profit: $443,409
• Equity at exit: $367,185

Cash invested: $52,920 (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 70113

• Rents YoY: 6.0%
• Active inventory: 137
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,508 high
• Mortgage (P&I): −$991
• Tax from tax record: −$120 /mo · $1,435/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $725

Break-even live

Break-even rent $1,590

Max offer price $189,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,508
Total (2 units)			$2,508

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3108 Second St New Orleans, LA	3.0	3.0	1216	$2,100	$1.73	3d	1	0.28mi
2628 S Derbigny St New Orleans, LA	3.0	1.0	900	$1,500	$1.67	3d	1	0.28mi
2722 Martin L King Bl New Orleans, LA	3.0	2.5	1350	$1,800	$1.33	23d	1	0.29mi
3120 Second St New Orleans, LA	3.0	3.0	1256	$2,050	$1.63	23d	1	0.29mi
3122 2nd St New Orleans, LA	3.0	3.0	1206	$2,075	$1.72	23d	1	0.30mi
2123 S Liberty St Unit 2125 New Orleans, LA	3.0	2.0	1500	$2,100	$1.40	3d	1	0.30mi
2225 2nd St New Orleans, LA	3.0	2.0	1100	$1,800	$1.64	23d	1	0.32mi
2526 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1200	$2,200	$1.83	3d	1	0.33mi
2341 S Roman St Unit U New Orleans, LA	3.0	2.0	1000	$1,850	$1.85	23d	1	0.33mi
3204 2nd St New Orleans, LA	3.0	2.0	850	$1,295	$1.52	23d	1	0.33mi
1614 Rev John Raphael Jr Way New Orleans, LA	3.0	2.0	1000	$1,500	$1.50	23d	1	0.35mi
2833 S Derbigny St New Orleans, LA	3.0	2.0	1500	$1,795	$1.20	23d	1	0.38mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1250	$2,300	$1.84	2d	1	0.40mi
2717 Loyola Ave New Orleans, LA	3.0	2.0	1232	$2,300	$1.87	23d	1	0.40mi
2318 Martin Luther King Junior Blvd New Orleans, LA	3.0	2.0	1400	$1,700	$1.21	23d	1	0.42mi
3218 Jackson Ave New Orleans, LA	3.0	2.0	1267	$1,750	$1.38	23d	1	0.42mi
3322 Third St New Orleans, LA	3.0	2.0	950	$1,450	$1.53	23d	1	0.43mi
2119 Josephine St New Orleans, LA	3.0	1.0	1017	$950	$0.93	21d	1	0.43mi
2107 Fourth St New Orleans, LA	3.0	1.0	1292	$1,775	$1.37	17d	1	0.44mi
2102 Josephine St New Orleans, LA	4.0	2.0	1286	$2,100	$1.63	23d	1	0.45mi
2032 Saint Andrew St New Orleans, LA	3.0	2.0	1035	$1,830	$1.77	17d	1	0.49mi
2620 S Galvez St Apt 2B New Orleans, LA	3.0	1.0	1000	$1,100	$1.10	17d	1	0.50mi
1915 Philip St New Orleans, LA	3.0	1.5	1300	$2,450	$1.88	23d	1	0.51mi
3435 Magnolia St New Orleans, LA	3.0	1.0	1050	$1,500	$1.43	23d	1	0.52mi
2733 Danneel St New Orleans, LA	4.0	2.0	1350	$1,775	$1.31	23d	1	0.53mi
3230 Toledano St New Orleans, LA	3.0	2.0	950	$1,750	$1.84	23d	1	0.53mi
3208 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1391	$1,900	$1.37	17d	1	0.53mi
2606 S Miro St New Orleans, LA	3.0	2.0	1450	$2,016	$1.39	23d	1	0.56mi
2539 Amelia St New Orleans, LA	3.0	2.0	1296	$2,200	$1.70	23d	1	0.57mi
3632 First St Unit B New Orleans, LA	3.0	2.0	950	$1,750	$1.84	11d	1	0.61mi
3632 First St Unit A New Orleans, LA	3.0	2.0	950	$1,850	$1.95	11d	1	0.61mi
3617 Fourth St Unit A New Orleans, LA	3.0	2.0	1225	$1,995	$1.63	17d	1	0.61mi
2535 Marengo St New Orleans, LA	3.0	1.0	1300	$1,200	$0.92	14d	1	0.68mi
4206 S Derbigny St New Orleans, LA	3.0	1.0	1300	$1,600	$1.23	23d	1	0.69mi
2232 Amelia St New Orleans, LA	3.0	2.0	900	$1,800	$2.00	17d	1	0.70mi
3514 S Miro St New Orleans, LA	3.0	2.0	1230	$1,950	$1.59	17d	1	0.70mi
3511 S Miro St New Orleans, LA	3.0	1.0	802	$1,000	$1.25	23d	1	0.71mi
2931 Baronne St New Orleans, LA	3.0	1.0	1145	$1,510	$1.32	23d	1	0.72mi
4305 S Johnson St Unit 4305 New Orleans, LA	3.0	1.0	1175	$1,595	$1.36	11d	1	0.79mi
3829 General Taylor St New Orleans, LA	3.0	1.0	1000	$1,300	$1.30	23d	1	0.84mi

Listing history 34 events

1. 2026-06-18
   days on market $189,000 Active 55 DOM
2. 2026-06-17
   days on market $189,000 Active 54 DOM
3. 2026-06-16
   days on market $189,000 Active 53 DOM
4. 2026-06-15
   days on market $189,000 Active 52 DOM
5. 2026-06-13
   days on market $189,000 Active 50 DOM
6. 2026-06-10
   days on market $189,000 Active 47 DOM
7. 2026-06-09
   days on market $189,000 Active 46 DOM
8. 2026-06-08
   days on market $189,000 Active 45 DOM
9. 2026-06-07
   days on market $189,000 Active 44 DOM
10. 2026-06-05
    days on market $189,000 Active 41 DOM
11. 2026-06-03
    days on market $189,000 Active 40 DOM
12. 2026-06-02
    days on market $189,000 Active 39 DOM
13. 2026-06-01
    days on market $189,000 Active 38 DOM
14. 2026-05-31
    days on market $189,000 Active 37 DOM
15. 2026-04-25
    price $189,000 1521-char remark
16. 2026-04-22
    listed $179,711 Active 1521-char remark
17. 2025-10-15
    price $169,997
18. 2025-10-15
    price $169,997
19. 2025-09-11
    price $189,997
20. 2025-09-11
    price $189,997
21. 2025-07-16
    listed $199,997 Active
22. 2024-05-07
    listed $349,000 Active
23. 2012-10-09
    listed $24,200
24. 2011-09-26
    listed $75,000
25. 2011-09-26
    listed $75,000
26. 2011-03-28
    listed $75,000
27. 2011-03-28
    listed $75,000
28. 2008-05-02
    soldstatus $100,000
29. 2007-01-26
    soldstatus $45,000
30. 2006-11-07
    listed $60,000
31. 2006-11-07
    listed $60,000
32. 2001-05-01
    soldstatus $31,500
33. 2001-01-12
    listed $42,500
34. 2001-01-12
    listed $42,500

ⓘ 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: $1,435 · $120/mo
• Projected year-2 tax: $1,435 · $120/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 · 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: $30,096
• − Mortgage interest: −$10,587
• − Property taxes: −$1,435
• − Insurance: −$1,742
• − Repairs & maintenance: −$2,408
• − Management: −$2,408
• − Depreciation: −$5,498
• Taxable income: $6,018
• Est. tax owed @ 24.0%: −$1,444
• After-tax cash flow: $7,260/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): 9,387
• Household income: $39,333
• Rent vs Own: 75.4% rent · 24.6% own
• Severe rent burden: 714.0

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 0.57)
• Race & ethnicity: Black 61% White 20% Hispanic / Latino 13% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 2% Portuguese 1% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1% Vietnamese 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: ▲ 65.92%
• Current HPI: 229.3968
• Rent YoY: ▲ 5.98%
• 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

+344.7% since first listed

20 events — show timeline

• 2026-04-25 Price Changed $189,000 GSREIN
• 2026-04-22 Listed $179,711 GSREIN
• 2025-10-15 Price Changed $169,997 AcadianaMLS
• 2025-10-15 Price Changed $169,997 GSREIN
• 2025-09-11 Price Changed $189,997 AcadianaMLS
• 2025-09-11 Price Changed $189,997 GSREIN
• 2025-07-16 Listed $199,997 AcadianaMLS
• 2024-05-07 Listed $349,000 AcadianaMLS
• 2012-10-09 Listed $24,200 AcadianaMLS
• 2011-09-26 Listed $75,000 GSREIN
• 2011-09-26 Listed $75,000 AcadianaMLS
• 2011-03-28 Listed $75,000 GSREIN
• 2011-03-28 Listed $75,000 AcadianaMLS
• 2008-05-02 Sold (Public Records) $100,000 Public Records
• 2007-01-26 Sold (MLS) $45,000 GSREIN
• 2006-11-07 Listed $60,000 AcadianaMLS
• 2006-11-07 Listed $60,000 GSREIN
• 2001-05-01 Sold (MLS) $31,500 GSREIN
• 2001-01-12 Listed $42,500 GSREIN
• 2001-01-12 Listed $42,500 AcadianaMLS

Property tax history

+1.9%/yr

Latest (2026): $1,435 · +1.1% YoY. Source: county tax records.