211 S Olympia St · New Orleans, LA 70119

$375,000

8 bd · 4.0 ba · 3,120 sqft · MultiFamily public records · 38 Days on market

Built 1920 4,064 sqft lot $120/sqft · 21% below area Est $508k · 26% under ↓ 12% since listing

---

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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This classic New Orleans fourplex at 211 S. Olympia Street presents the ideal hybrid for a savvy investor: immediate in-place rental income from two units paired with massive renovation upside. Priced at $375,000, this property is a prime value-add opportunity in one of the city's most resilient rental submarkets. The property consists of four 2-bedroom, 1-bathroom shotgun-style units, with the upper units featuring private balconies that offer charming neighborhood views.The heavy lifting on the infrastructure has already been handled, providing a rare head start with a new roof and a new sewer line already in place. Currently, two of the four units are occupied and generating rental income. This allows a new owner to collect rent from day one while focusing renovation efforts on the remaining units, which are prime candidates for a transformation to capture top-of-market rents. The property is located in a high-demand pocket of Mid-City just steps from the Canal streetcar line, local eateries, and Bayou St. John. Furthermore, the property has been preapproved for State and Federal Historic Tax Credits, offering the potential of a significant financial advantage to offset renovation costs. Whether you are looking for your next BRRRR project or a strategic addition to your portfolio, this property offers the bones, the incentives, and the location to succeed. Bring your contractor and your vision to this Mid-City diamond in the rough.

Key facts

• Private balconies
• Brand new roof
• New sewer line

Tags

• PRIVATE BALCONIES
• BRAND NEW ROOF
• NEW SEWER LINE

Property features AI

Finance

• Other: Tenants are responsible for electricity and gas; owner pays water
• Financial info: Property contains 4 units total; Unit 213 currently listed at $975/month actual rent; Unit 209 currently listed at $1,000/month actual rent; Units 211A and 211B are 2-bedroom/1-bath units (rent not listed)

Exterior

• Utilities: Public water; Public sewer
• Home design: 2-story multifamily building; Wood siding exterior; Shingle roof
• Construction: Wood siding construction; Shingle roof; Raised foundation; Built with average condition
• Exterior features: Balcony; City lot with rectangular layout; Lot dimensions approximately 32 x 127

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Four 2-bedroom units (units 209, 211A, 211B, 213)
• Bathrooms: Four full bathrooms (one in each unit)
• Heating & cooling: Ductless heating; Wall furnace; Window air-conditioning units
• Interior features: Average condition; Raised foundation
• Laundry & utility: Tenant pays electricity and gas; owner pays water

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $588/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $375k).
• Recommended offer: $364k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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 soft (-0.2%/yr); 381 active listings in the ZIP; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $6,186/mo this rent would consume 140% of the median local household income ($53k/yr) (locally 3381% 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 $3k of loan paydown is wiped out by about $11k 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 + 0.0% rent growth), your $105k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 1920 — 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 $363,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% 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 1920 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.65% ✓
• Cap rate: 14.04%
• Cash-on-cash: 27.66%
• DSCR: 2.23
• GRM: 5.1

CMA / ARV

• ARV (median comp): $507,695
• List price: $375,000
• Delta: -26.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4237 39 Ulloa St	0.41mi	8/4.0	2,852 (-9%)	2mo	$250,000	$88	65
332-34 N Bernadotte St	0.33mi	8/4.0	2,932 (-6%)	14mo	$339,100	$116	63
305 City Park Ave	0.42mi	7/5.0 (-1)	2,918 (-6%)	1mo	$500,000	$171	60
4150-52 Toulouse St	0.55mi	8/4.0	3,320 (+6%)	18mo	$409,000	$123	48
606-08 N Alexander St	0.49mi	8/4.0	3,468 (+11%)	13mo	$449,000	$129	48
634-36 N St. Patrick St	0.49mi	7/4.0 (-1)	2,746 (-12%)	13mo	$237,500	$86	42

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 17.4%
• Equity multiple: 1.68×
• Total profit: $71,063
• Equity at exit: $55,914

10-year hold

• IRR: 23.7%
• Equity multiple: 2.76×
• Total profit: $185,075
• Equity at exit: $32,423

Cash invested: $105,000 (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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $6,186 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$344 /mo · $4,129/yr
• Insurance: −$156
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,299
• Net cashflow: $2,354

Break-even live

Break-even rent $3,207

Max offer price $375,000

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,188
Total (4 units)			$6,186

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $375,000 Active 38 DOM
2. 2026-06-17
   days on market $375,000 Active 37 DOM
3. 2026-06-16
   days on market $375,000 Active 36 DOM
4. 2026-06-15
   days on market $375,000 Active 35 DOM
5. 2026-06-13
   days on market $375,000 Active 33 DOM
6. 2026-06-10
   days on market $375,000 Active 30 DOM
7. 2026-06-09
   days on market $375,000 Active 29 DOM
8. 2026-06-08
   days on market $375,000 Active 28 DOM
9. 2026-06-07
   days on market $375,000 Active 27 DOM
10. 2026-06-05
    days on market $375,000 Active 24 DOM
11. 2026-06-03
    days on market $375,000 Active 23 DOM
12. 2026-06-02
    days on market $375,000 Active 22 DOM
13. 2026-06-01
    days on market $375,000 Active 21 DOM
14. 2026-05-31
    days on market $375,000 Active 20 DOM
15. 2026-05-11
    listed $375,000 Active 1458-char remark

    Show marketing remark (1458 chars)

    This classic New Orleans fourplex at 211 S. Olympia Street presents the ideal hybrid for a savvy investor: immediate in-place rental income from two units paired with massive renovation upside. Priced at $375,000, this property is a prime value-add opportunity in one of the city's most resilient rental submarkets. The property consists of four 2-bedroom, 1-bathroom shotgun-style units, with the upper units featuring private balconies that offer charming neighborhood views.The heavy lifting on the infrastructure has already been handled, providing a rare head start with a new roof and a new sewer line already in place. Currently, two of the four units are occupied and generating rental income. This allows a new owner to collect rent from day one while focusing renovation efforts on the remaining units, which are prime candidates for a transformation to capture top-of-market rents. The property is located in a high-demand pocket of Mid-City just steps from the Canal streetcar line, local eateries, and Bayou St. John. Furthermore, the property has been preapproved for State and Federal Historic Tax Credits, offering the potential of a significant financial advantage to offset renovation costs. Whether you are looking for your next BRRRR project or a strategic addition to your portfolio, this property offers the bones, the incentives, and the location to succeed. Bring your contractor and your vision to this Mid-City diamond in the rough.

16. 2026-05-11
    listed $375,000 Active 1459-char remark

    Show marketing remark (1458 chars)

    This classic New Orleans fourplex at 211 S. Olympia Street presents the ideal hybrid for a savvy investor: immediate in-place rental income from two units paired with massive renovation upside. Priced at $375,000, this property is a prime value-add opportunity in one of the city's most resilient rental submarkets. The property consists of four 2-bedroom, 1-bathroom shotgun-style units, with the upper units featuring private balconies that offer charming neighborhood views.The heavy lifting on the infrastructure has already been handled, providing a rare head start with a new roof and a new sewer line already in place. Currently, two of the four units are occupied and generating rental income. This allows a new owner to collect rent from day one while focusing renovation efforts on the remaining units, which are prime candidates for a transformation to capture top-of-market rents. The property is located in a high-demand pocket of Mid-City just steps from the Canal streetcar line, local eateries, and Bayou St. John. Furthermore, the property has been preapproved for State and Federal Historic Tax Credits, offering the potential of a significant financial advantage to offset renovation costs. Whether you are looking for your next BRRRR project or a strategic addition to your portfolio, this property offers the bones, the incentives, and the location to succeed. Bring your contractor and your vision to this Mid-City diamond in the rough.

17. 2025-01-17
    price $400,000
18. 2025-01-17
    price $400,000
19. 2024-09-29
    listed $425,000 Active
20. 2024-08-07
    price $425,000
21. 2024-07-02
    listed $425,000

ⓘ 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: $4,129 · $344/mo
• Projected year-2 tax: $4,129 · $344/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: $74,232
• − Mortgage interest: −$21,006
• − Property taxes: −$4,129
• − Insurance: −$2,672
• − Repairs & maintenance: −$5,939
• − Management: −$5,939
• − Depreciation: −$10,909
• Taxable income: $23,638
• Est. tax owed @ 24.0%: −$5,673
• After-tax cash flow: $22,570/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): 37,253
• Household income: $53,143
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3381.0

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 0.64)
• Race & ethnicity: Black 44% White 40% Two or more races 10% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 0%

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: ▼ -135.38%
• Current HPI: 253.1929
• Rent YoY: ▼ -0.20%
• 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

-11.8% since first listed

7 events — show timeline

• 2026-05-11 Listed $375,000 GSREIN
• 2026-05-11 Listed $375,000 AcadianaMLS
• 2025-01-17 Price Changed $400,000 AcadianaMLS
• 2025-01-17 Price Changed $400,000 GSREIN
• 2024-09-29 Listed $425,000 AcadianaMLS
• 2024-08-07 Price Changed $425,000 GSREIN
• 2024-07-02 Listed $425,000 AcadianaMLS

Property tax history

+2.6%/yr

Latest (2026): $4,129 · +1.0% YoY. Source: county tax records.