2401 Verbena St · New Orleans, LA 70122

$218,000

4 bd · 2.0 ba · 1,472 sqft · MultiFamily public records · 192 Days on market

Built 1940 5,401 sqft lot $148/sqft · 15% above area Est $238k · 8% 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 +24.0/30.0
• ARV discount +11.3/15.0
• DSCR +7.7/10.0
• 1% rule +5.7/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• 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

Opportunity awaits!!! This Craftsman double offers off-street parking for both units. The double-parlor shotgun layout features hardwood floors and natural light and classic craftsman historic elements. On the interior, many original architectural elements remain intact such as historical molding doors, windows, butler pantries, and antique laundry hamper. Additional features include interior laundry hookups, separate outdoor storage, and private backyards for each unit. Additional features include interior laundry hookups, separate outdoor storage, and private backyards for each unit.

Key facts

• Historic elements
• Natural light
• Off-street parking

Tags

• OFF-STREET PARKING
• DOUBLE-PARLOR SHOTGUN LAYOUT
• HARDWOOD FLOORS
• NATURAL LIGHT
• HISTORIC ELEMENTS
• HISTORICAL MOLDING DOORS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $218k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $218k).
• Recommended offer: $192k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 soft (-0.6%/yr); 336 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,334/mo this rent would consume 57% of the median local household income ($49k/yr) (locally 2150% 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 $2k of loan paydown is wiped out by about $7k 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 192 days — a 12% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 17y 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.
• Current owner paid $124k; list at $218k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $191,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.07% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.38%
• DSCR: 1.37
• GRM: 7.8

CMA / ARV

• ARV (median comp): $238,103
• List price: $218,000
• Delta: -8.44%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2127-29 Mandolin St	0.44mi	4/2.0	1,474 (+0%)	3mo	$230,000	$156	76
2483 85 Verbena St	0.12mi	4/2.5	1,680 (+14%)	4mo	$237,000	$141	66
2633 35 Gladiolus St	0.33mi	4/2.0	1,632 (+11%)	7mo	$226,000	$138	60
3533 Piedmont Dr	0.39mi	4/2.0	1,605 (+9%)	20mo	$250,000	$156	50
2258 60 Pleasure St	0.48mi	5/2.0 (+1)	1,600 (+9%)	17mo	$174,000	$109	44
3638 40 Elysian Fields Ave	0.42mi	4/2.0	1,671 (+14%)	18mo	$289,000	$173	43
3025 Saint Roch Ave	0.72mi	3/2.0 (-1)	1,317 (-10%)	6mo	$126,000	$96	39
2625 27 Sage St	0.54mi	4/2.0	1,668 (+13%)	19mo	$302,500	$181	37
2032 34 Elysian Fields Ave	0.62mi	4/2.0	1,668 (+13%)	15mo	$310,000	$186	36
4424 Annette St	0.71mi	4/3.5	1,664 (+13%)	17mo	$230,000	$138	25

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: -8.8%
• Equity multiple: 0.69×
• Total profit: $-19,220
• Equity at exit: $32,505

10-year hold

• IRR: -3.9%
• Equity multiple: 0.78×
• Total profit: $-13,566
• Equity at exit: $18,849

Cash invested: $61,040 (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 70122

• Rents YoY: -0.6%
• Active inventory: 336
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $2,334 high
• Mortgage (P&I): −$1,143
• Tax from tax record: −$183 /mo · $2,201/yr
• Insurance: −$91
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $360

Break-even live

Break-even rent $1,878

Max offer price $218,000

Occupancy floor 80%

Sensitivity live

Price	-10% $483	-5% $422	+0% $360	+5% $298	+10% $237
Rent	-10% $176	-5% $268	+0% $360	+5% $452	+10% $544
Rate	-1.0pp $470	-0.5pp $415	base $360	+0.5pp $303	+1.0pp $246

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,334
Total (2 units)			$2,334

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: $54,500
• Closing costs: $6,540
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4023 Franklin Ave New Orleans, LA	3.0	2.0	1000	$1,700	$1.70	5d	1	0.26mi
3907 Elysian Fields Ave New Orleans, LA	3.0	2.0	1652	$3,000	$1.82	25d	1	0.31mi
3540 Clermont Dr New Orleans, LA	3.0	2.0	1248	$1,975	$1.58	25d	1	0.40mi
4618 Marigny St New Orleans, LA	3.0	1.0	1320	$1,900	$1.44	25d	1	0.44mi
2647 Myrtle St Unit 2647 New Orleans, LA	4.0	2.0	1445	$2,550	$1.76	45d	1	0.45mi
2754 Jasmine St New Orleans, LA	3.0	1.0	1020	$1,750	$1.72	25d	1	0.46mi
2509 Sage St New Orleans, LA	3.0	1.0	1250	$1,650	$1.32	23d	1	0.46mi
2646 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	19d	1	0.52mi
2644 Elder St New Orleans, LA	3.0	3.0	1284	$2,200	$1.71	19d	1	0.52mi
3327 Elysian Fields Ave New Orleans, LA	3.0	1.0	1200	$1,300	$1.08	25d	1	0.57mi
2739 Bay St Unit B New Orleans, LA	4.0	2.0	1400	$1,800	$1.29	22d	1	0.66mi
4767 Lafaye St New Orleans, LA	3.0	2.0	1469	$2,000	$1.36	25d	1	0.67mi
3515 Saint Anthony Ave New Orleans, LA	3.0	2.0	1366	$2,500	$1.83	25d	1	0.69mi
4936 Baccich St New Orleans, LA	3.0	1.0	1053	$1,700	$1.61	25d	1	0.76mi
4736 Saint Anthony Ave New Orleans, LA	3.0	1.0	1100	$1,800	$1.64	18d	1	0.79mi
5172 Venus St Unit 5172 New Orleans, LA	3.0	2.5	1864	$2,450	$1.31	25d	1	0.82mi
2152 Abundance St Unit 2152 New Orleans, LA	3.0	2.0	1100	$1,599	$1.45	5d	1	0.85mi
4815 Warrington Dr New Orleans, LA	3.0	2.0	1652	$2,150	$1.30	18d	1	0.98mi
5151 Saint Anthony Ave New Orleans, LA	3.0	2.0	1200	$1,795	$1.50	18d	1	1.00mi
3607 Havana St New Orleans, LA	3.0	2.0	1693	$1,488	$0.88	19d	1	1.00mi
3624 Havana St New Orleans, LA	3.0	1.0	1388	$1,875	$1.35	18d	1	1.02mi
2338 40 Annette St New Orleans, LA	3.0	1.0	1150	$1,385	$1.20	22d	1	1.04mi
5519 Mandeville St New Orleans, LA	3.0	1.0	1125	$1,650	$1.47	5d	1	1.07mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	18d	1	1.12mi
2817 Annette St New Orleans, LA	3.0	1.0	1100	$1,350	$1.23	25d	1	1.13mi
5322 Saint Anthony Ave New Orleans, LA	3.0	2.0	1192	$2,000	$1.68	18d	1	1.18mi
3316 Metropolitan St New Orleans, LA	3.0	2.0	1184	$1,700	$1.44	25d	1	1.21mi
3302 Metropolitan St New Orleans, LA	4.0	2.5	1700	$2,200	$1.29	19d	1	1.22mi
5546 Pasteur Blvd Unit A New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	25d	1	1.24mi
3021 Republic St New Orleans, LA	4.0	2.0	1125	$2,200	$1.96	25d	1	1.24mi
2458 Athis St New Orleans, LA	4.0	2.0	1530	$2,200	$1.44	25d	1	1.24mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	25d	1	1.25mi
1996 Hope St New Orleans, LA	3.0	1.0	910	$1,550	$1.70	5d	1	1.28mi
5718 Vermillion Blvd Unit A New Orleans, LA	3.0	1.0	1300	$2,000	$1.54	25d	1	1.30mi
3023 Bruxelles St New Orleans, LA	3.0	1.0	960	$2,200	$2.29	16d	1	1.31mi
5723 Pasteur Blvd New Orleans, LA	3.0	2.0	1150	$1,700	$1.48	19d	1	1.33mi
2556 N Tonti St New Orleans, LA	3.0	2.0	1100	$1,850	$1.68	18d	1	1.33mi
5550 Press Dr New Orleans, LA	3.0	2.0	1640	$2,000	$1.22	18d	1	1.34mi
2222 Saint Roch Ave New Orleans, LA	3.0	1.0	900	$1,200	$1.33	25d	1	1.34mi
1486 Mandolin St New Orleans, LA	3.0	2.0	1497	$1,900	$1.27	5d	1	1.35mi

Listing history 27 events

1. 2026-06-21
   days on market $218,000 Active 192 DOM
2. 2026-06-18
   days on market $218,000 Active 189 DOM
3. 2026-06-17
   days on market $218,000 Active 188 DOM
4. 2026-06-16
   days on market $218,000 Active 187 DOM
5. 2026-06-15
   days on market $218,000 Active 186 DOM
6. 2026-06-13
   days on market $218,000 Active 184 DOM
7. 2026-06-10
   days on market $218,000 Active 181 DOM
8. 2026-06-09
   days on market $218,000 Active 180 DOM
9. 2026-06-08
   days on market $218,000 Active 179 DOM
10. 2026-06-07
    days on market $218,000 Active 178 DOM
11. 2026-06-05
    days on market $218,000 Active 175 DOM
12. 2026-06-03
    days on market $218,000 Active 174 DOM
13. 2026-06-02
    days on market $218,000 Active 173 DOM
14. 2026-06-01
    days on market $218,000 Active 172 DOM
15. 2026-05-31
    days on market $218,000 Active 171 DOM
16. 2025-12-11
    listed $218,000 Active 592-char remark

    Show marketing remark (592 chars)

    Opportunity awaits!!! This Craftsman double offers off-street parking for both units. The double-parlor shotgun layout features hardwood floors and natural light and classic craftsman historic elements. On the interior, many original architectural elements remain intact such as historical molding doors, windows, butler pantries, and antique laundry hamper. Additional features include interior laundry hookups, separate outdoor storage, and private backyards for each unit. Additional features include interior laundry hookups, separate outdoor storage, and private backyards for each unit.

17. 2025-12-11
    listed $218,000 Active 592-char remark

    Show marketing remark (592 chars)

    Opportunity awaits!!! This Craftsman double offers off-street parking for both units. The double-parlor shotgun layout features hardwood floors and natural light and classic craftsman historic elements. On the interior, many original architectural elements remain intact such as historical molding doors, windows, butler pantries, and antique laundry hamper. Additional features include interior laundry hookups, separate outdoor storage, and private backyards for each unit. Additional features include interior laundry hookups, separate outdoor storage, and private backyards for each unit.

18. 2014-11-03
    soldstatus $124,000
19. 2013-01-03
    listed $128,888
20. 2012-06-18
    listed $128,900
21. 2012-06-18
    listed $128,900
22. 2010-06-14
    listed $128,900
23. 2010-06-14
    listed $128,900
24. 2010-02-19
    listed $139,900
25. 2010-02-19
    listed $139,900
26. 2009-03-27
    listed $159,000
27. 2009-03-27
    listed $159,000

ⓘ 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: $2,201 · $183/mo
• Projected year-2 tax: $2,201 · $183/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 · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $28,008
• − Mortgage interest: −$12,211
• − Property taxes: −$2,201
• − Insurance: −$1,888
• − Repairs & maintenance: −$2,241
• − Management: −$2,241
• − Depreciation: −$6,342
• Taxable income: $885
• Est. tax owed @ 24.0%: −$212
• After-tax cash flow: $4,107/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): 35,253
• Household income: $49,455
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 2150.0

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: Predominantly Black (69%)
• Race & ethnicity: Black 69% White 18% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 4% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 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: ▼ -222.37%
• Current HPI: 231.9921
• Rent YoY: ▼ -0.61%
• 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

+37.1% since first listed

12 events — show timeline

• 2025-12-11 Listed $218,000 GSREIN
• 2025-12-11 Listed $218,000 AcadianaMLS
• 2014-11-03 Sold (Public Records) $124,000 Public Records
• 2013-01-03 Listed $128,888 AcadianaMLS
• 2012-06-18 Listed $128,900 GSREIN
• 2012-06-18 Listed $128,900 AcadianaMLS
• 2010-06-14 Listed $128,900 GSREIN
• 2010-06-14 Listed $128,900 AcadianaMLS
• 2010-02-19 Listed $139,900 GSREIN
• 2010-02-19 Listed $139,900 AcadianaMLS
• 2009-03-27 Listed $159,000 GSREIN
• 2009-03-27 Listed $159,000 AcadianaMLS

Property tax history

-0.4%/yr

Latest (2026): $2,201 · +1.1% YoY. Source: county tax records.