1714-16 Independence St · New Orleans, LA 70117

$240,000

None bd · None ba · 872 sqft · MultiFamily · 29 Days on market

Excellent condition 3,822 sqft lot Est $240k · at est.

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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 +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +5.5/10.0
• Condition / age +4.8/5.0
• Livability +4.0/5.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Real nice Investors Special... Unit 1714 is occupied and 1716 is vacant for showing purposes...Contact listing agent, easy to show.

Key facts

• 3,822 sq ft lot
• Listed 29 days

What this means for you Summary

Snapshot

• This is a multifamily listed at $240k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $273 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% 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.
• 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 rising (+2.5%/yr); 587 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,529/mo this rent would consume 66% 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 $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 29 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y 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.
• 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 $236,400 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.05% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $239,800
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1714-16 Independence St	0.00mi	—/—	872 (0%)	1mo	$240,000	$275	99
1714 16 Independence St	0.00mi	4/2.0	872 (0%)	1mo	$240,000	$275	99
1824-26 Feliciana St	0.44mi	4/2.0	1,000 (+15%)	10mo	$235,000	$235	47

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: -9.3%
• Equity multiple: 0.66×
• Total profit: $-22,724
• Equity at exit: $35,785

10-year hold

• IRR: -0.5%
• Equity multiple: 0.97×
• Total profit: $-2,332
• Equity at exit: $20,751

Cash invested: $67,200 (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: 587
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $2,529 medium
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$531
• Net cashflow: $273

Break-even live

Break-even rent $2,184

Max offer price $240,000

Occupancy floor 84%

Sensitivity live

Price	-10% $439	-5% $356	+0% $273	+5% $190	+10% $107
Rent	-10% $73	-5% $173	+0% $273	+5% $373	+10% $473
Rate	-1.0pp $394	-0.5pp $334	base $273	+0.5pp $211	+1.0pp $147

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,530
Total (2 units)			$2,529

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1715 Gallier St Unit B New Orleans, LA	2.0	1.0	1000	$1,099	$1.10	25d	1	0.09mi
1713 Gallier St Unit B New Orleans, LA	2.0	1.0	1000	$1,099	$1.10	25d	1	0.09mi
1634 Bartholomew St New Orleans, LA	2.0	1.0	900	$1,300	$1.44	25d	1	0.16mi
1628 Bartholomew St New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	25d	1	0.17mi
1942 Piety St New Orleans, LA	3.0	1.0	1100	$1,500	$1.36	25d	1	0.29mi
1614 Louisa St New Orleans, LA	2.0	1.0	733	$1,100	$1.50	25d	1	0.31mi
2019 Louisa St New Orleans, LA	3.0	1.0	750	$1,500	$2.00	18d	1	0.33mi
2017 Louisa St New Orleans, LA	3.0	1.0	750	$1,300	$1.73	18d	1	0.33mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	4d	1	0.34mi
2129 Desire St Unit 1B New Orleans, LA	3.0	1.0	1105	$1,200	$1.09	4d	1	0.34mi
3125 Industrial Ct New Orleans, LA	2.0	2.5	1100	$1,450	$1.32	25d	1	0.34mi
4222 N Johnson St New Orleans, LA	3.0	2.0	1100	$1,895	$1.72	25d	1	0.35mi
1310 Bartholomew St Unit 1310 New Orleans, LA	1.0	1.0	637	$1,150	$1.81	25d	1	0.36mi
4217 N Johnson St New Orleans, LA	3.0	2.0	904	$1,650	$1.83	25d	1	0.36mi
3201 N Galvez St Unit 2B New Orleans, LA	2.0	1.0	700	$1,250	$1.79	25d	1	0.37mi
1703 Clouet St New Orleans, LA	2.0	1.0	650	$1,200	$1.85	17d	1	0.37mi
1211 Gallier St New Orleans, LA	2.0	1.0	900	$1,000	$1.11	25d	1	0.41mi
1319 France St New Orleans, LA	2.0	1.0	923	$975	$1.06	22d	1	0.42mi
3133 N Villere St New Orleans, LA	2.0	1.0	715	$1,250	$1.75	25d	1	0.42mi
2612 14 Urquhart St New Orleans, LA	1.0	1.0	900	$1,200	$1.33	21d	1	0.47mi
2027 Feliciana St New Orleans, LA	2.0	1.0	1104	$1,100	$1.00	17d	1	0.48mi
1121 Bartholomew St Unit 1121 New Orleans, LA	2.0	1.0	893	$2,000	$2.24	25d	1	0.48mi
1905 Montegut St New Orleans, LA	2.0	1.5	870	$1,275	$1.47	25d	1	0.49mi
3915 N Rocheblave St New Orleans, LA	2.0	2.0	1005	$1,700	$1.69	25d	1	0.50mi
3915 N Rocheblave St New Orleans, LA	2.0	2.0	1005	$1,700	$1.69	17d	1	0.50mi
1225 Clouet St Unit 1225 New Orleans, LA	2.0	2.0	900	$1,600	$1.78	25d	1	0.53mi
4120 N Rocheblave St New Orleans, LA	2.0	1.0	750	$1,275	$1.70	4d	1	0.53mi
1244 Clouet St New Orleans, LA	2.0	1.0	950	$1,500	$1.58	25d	1	0.53mi
1217 Clouet St New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	25d	1	0.53mi
2423 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	13d	1	0.57mi
2421 Louisa St New Orleans, LA	2.0	1.0	1050	$1,300	$1.24	13d	1	0.57mi
3121 Saint Claude Ave Unit A New Orleans, LA	1.0	1.0	600	$900	$1.50	25d	1	0.57mi
3912 N Rampart St Unit 3912 New Orleans, LA	2.0	1.0	800	$1,500	$1.88	25d	1	0.59mi
2509 Piety St New Orleans, LA	2.0	2.0	1056	$1,450	$1.37	25d	1	0.60mi
4543 Urquhart St Unit B New Orleans, LA	2.0	1.0	700	$1,150	$1.64	13d	1	0.61mi
4545 Urquhart St Unit B New Orleans, LA	2.0	1.0	700	$1,150	$1.64	25d	1	0.61mi
3421 Burgundy St New Orleans, LA	2.0	2.0	1120	$3,000	$2.68	25d	1	0.64mi
935 Louisa St New Orleans, LA	1.0	1.0	810	$1,500	$1.85	25d	1	0.64mi
3027 Saint Claude Ave Unit B New Orleans, LA	1.0	1.0	784	$1,795	$2.29	25d	1	0.64mi
933 Louisa St New Orleans, LA	2.0	1.0	800	$1,700	$2.12	25d	1	0.64mi

Listing history 10 events

1. 2026-04-25
   status Pending
2. 2026-03-26
   listed $240,000 Active
3. 2026-03-23
   historical $1,500
4. 2026-03-22
   listed $1,500
5. 2026-03-21
   historical $1,500
6. 2026-02-04
   listed $1,500
7. 2026-02-04
   historical $1,500
8. 2026-02-02
   listed $1,500
9. 2015-10-05
   listed $99,000 131-char remark

   Show marketing remark (131 chars)

   Real nice Investors Special... Unit 1714 is occupied and 1716 is vacant for showing purposes...Contact listing agent, easy to show.

10. 2010-03-23
    listed $23,200 131-char remark

    Show marketing remark (131 chars)

    Money Maker! Double needs some TLC. No utilities for inspections. Bank Owned. Proof of funds or preapproval letter with all offers.

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,348
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,997
• − Repairs & maintenance: −$2,428
• − Management: −$2,428
• − Depreciation: −$6,982
• Taxable loss: −$531
• Est. tax savings @ 24.0%: +$127
• After-tax cash flow: $3,402/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 · 9 photos

Excellent 95/100 None rehab

This newly renovated double unit is move-in ready with modern finishes and excellent curb appeal.

Value-add opportunities

• Both Painting exterior — Enhances curb appeal and value
• Both Landscaping — Improves curb appeal and rental value
• Both Add smart home features — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior — Enhances curb appeal and value ↑
• Both Landscaping — Improves curb appeal and rental value ↑
• Both Add smart home features — Enhances convenience and marketability ↑

ⓘ 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

+934.5% since first listed

10 events — show timeline

• 2026-04-25 Pending — AcadianaMLS
• 2026-03-26 Listed $240,000 AcadianaMLS
• 2026-03-23 Rental Removed $1,500 RENTSPREE
• 2026-03-22 Listed for Rent $1,500 RENTSPREE
• 2026-03-21 Rental Removed $1,500 RAAMLS
• 2026-02-04 Listed for Rent $1,500 RAAMLS
• 2026-02-04 Rental Removed $1,500 GSREIN
• 2026-02-02 Listed for Rent $1,500 GSREIN
• 2015-10-05 Listed $99,000 AcadianaMLS
• 2010-03-23 Listed $23,200 AcadianaMLS