1818 20 Saint Philip St · New Orleans, LA 70116

$299,900

4 bd · 2.0 ba · 1,924 sqft · MultiFamily public records · 96 Days on market

Built 1919 $156/sqft · 13% below area Est $398k · 25% under

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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 +26.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +6.4/10.0
• 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: 2 units. confirmed

Listing remarks MLS

Step into the charm and potential of this traditional New Orleans shotgun-style duplex, offering a rare opportunity to finish a renovation and create something truly special. This historic property retains the classic architectural character that makes New Orleans homes so desirable, while much of the heavy lifting has already been started. Each unit features the hallmark shotgun layout with tall ceilings, original architectural details, and abundant natural light. Renovations are already in progress, giving the next owner a head start while still leaving room to add personal design choices and finishing touches. With major updates already initiated, this property is well-suited for investors, renovators, or homeowners looking to customize a property to their taste. Complete the vision and unlock the full potential—whether as an income-producing rental, a live-in duplex, or a long-term investment. Located in a vibrant New Orleans neighborhood, Treme, this duplex offers strong rental potential and the timeless appeal of historic city living.

Key facts

• Historic property
• Shotgun layout
• Tall ceilings

Tags

• HISTORIC PROPERTY
• SHOTGUN LAYOUT
• TALL CEILINGS
• ORIGINAL ARCHITECTURAL DETAILS
• ABUNDANT NATURAL LIGHT
• MAJOR UPDATES

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $708 ($9k/yr) — positive. Per door: $354/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $273k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 flat; 350 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); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,419/mo this rent would consume 78% of the median local household income ($52k/yr) (locally 1001% 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 $9k 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 96 days — a 9% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $52k; list at $300k implies a 477% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1919 — 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 $272,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% 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 1919 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.14% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.07%
• DSCR: 1.49
• GRM: 7.3

CMA / ARV

• ARV (median comp): $398,062
• List price: $299,900
• Delta: -24.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1432-1434 Ursulines Ave	0.25mi	4/1.0	1,888 (-2%)	6mo	$228,000	$121	76
917 N Prieur St	0.11mi	4/2.0	1,700 (-12%)	4mo	$315,000	$185	72
2601 03 St Ann St	0.54mi	4/2.0	1,946 (+1%)	5mo	$220,000	$113	68
2615 26 Saint Ann St	0.56mi	4/2.0	1,900 (-1%)	5mo	$125,000	$66	67
1124-1126 Henriette Delille St	0.44mi	4/2.0	2,071 (+8%)	2mo	$157,000	$76	65
2216-18 Saint Louis St	0.45mi	4/2.0	1,689 (-12%)	1mo	$335,000	$198	58
1614 16 Annette St	0.72mi	4/2.0	1,998 (+4%)	4mo	$120,000	$60	56
2025 Conti St	0.42mi	4/2.0	1,680 (-13%)	7mo	$285,000	$170	53
2617 Toulouse St	0.61mi	4/4.0	1,750 (-9%)	1mo	$215,000	$123	48
1552 54 N Derbigny St	0.51mi	4/3.0	1,681 (-13%)	5mo	$330,000	$196	47
2328 30 Bienville St	0.61mi	5/3.5 (+1)	2,115 (+10%)	2mo	$400,000	$189	42
1345 Saint Anthony St	0.71mi	5/2.5 (+1)	1,776 (-8%)	7mo	$60,000	$34	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 · 0.18% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.85×
• Total profit: $-12,910
• Equity at exit: $44,716

10-year hold

• IRR: 2.0%
• Equity multiple: 1.12×
• Total profit: $10,273
• Equity at exit: $25,930

Cash invested: $83,972 (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 70116

• Home prices YoY: -34.5%
• Rents YoY: 0.2%
• Active inventory: 350
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $3,419 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$228 /mo · $2,742/yr
• Insurance: −$125
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$718
• Net cashflow: $708

Break-even live

Break-even rent $2,522

Max offer price $299,900

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,420
Total (2 units)			$3,419

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1929 Dumaine St New Orleans, LA	3.0	1.0	1293	$1,500	$1.16	3d	1	0.09mi
2129 Dumaine St New Orleans, LA	3.0	2.0	1226	$1,850	$1.51	3d	1	0.21mi
1908 Saint Louis St New Orleans, LA	3.0	3.0	1234	$2,300	$1.86	24d	1	0.34mi
1433 Esplanade Ave New Orleans, LA	3.0	2.0	2411	$5,000	$2.07	2d	1	0.35mi
2033 Conti St New Orleans, LA	3.0	3.0	1249	$2,250	$1.80	15d	1	0.41mi
1021 Henriette Delille St New Orleans, LA	3.0	2.0	2012	$2,250	$1.12	17d	1	0.41mi
324 N Roman St New Orleans, LA	3.0	3.0	2100	$2,500	$1.19	44d	1	0.41mi
1472 N Claiborne Ave New Orleans, LA	3.0	1.0	1312	$1,900	$1.45	16d	1	0.44mi
2105 Bienville St New Orleans, LA	3.0	3.0	1231	$2,350	$1.91	17d	1	0.47mi
2024 Bienville St New Orleans, LA	3.0	2.0	1314	$2,100	$1.60	24d	1	0.49mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	0.51mi
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	44d	1	0.51mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,300	$1.80	20d	1	0.53mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,500	$1.96	24d	1	0.53mi
1217 Kerlerec St Unit B New Orleans, LA	3.0	1.0	1300	$2,100	$1.62	3d	1	0.54mi
618 N Rampart St #204 New Orleans, LA	3.0	2.5	1904	$4,500	$2.36	44d	1	0.55mi
811 Burgundy St New Orleans, LA	4.0	2.5	2059	$5,000	$2.43	44d	1	0.56mi
2331 Columbus St New Orleans, LA	3.0	1.0	1976	$1,850	$0.94	24d	1	0.61mi
2329 Laharpe St New Orleans, LA	3.0	1.0	1250	$1,000	$0.80	20d	1	0.66mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	3d	1	0.68mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	3d	1	0.68mi
2731 Saint Philip St Unit 2733 New Orleans, LA	4.0	2.0	2000	$2,600	$1.30	24d	1	0.69mi
734 Ursulines Ave New Orleans, LA	3.0	2.0	1340	$2,800	$2.09	44d	1	0.72mi
939 Iberville St New Orleans, LA	1.0–3.0	1.0	1502	$3,800	$2.53	12d	7	0.79mi
824 N Dupre St New Orleans, LA	3.0	2.0	1315	$2,250	$1.71	17d	1	0.79mi
1011 Canal St Unit 1513926P New Orleans, LA	1.0–4.0	1.0–4.0	1016	$12,077	$11.88	2d	2	0.80mi
1011 Canal St Unit 1513939P New Orleans, LA	4.0	4.0	1765	$11,253	$6.38	24d	1	0.80mi
2664 Lepage St New Orleans, LA	3.0	2.0	1750	$2,725	$1.56	44d	1	0.82mi
810 Bienville St New Orleans, LA	1.0–3.0	1.0–2.0	995	$2,688	$2.70	3d	9	0.82mi
2738 Bienville St New Orleans, LA	4.0	3.0	1671	$2,200	$1.32	24d	1	0.84mi
751 Chartres St New Orleans, LA	2.0–3.0	2.0	1461	$3,450	$2.36	44d	1	0.84mi
1418 Royal St Unit 1418 New Orleans, LA	4.0	2.0	1300	$2,450	$1.88	24d	1	0.85mi
2517 Palmyra St New Orleans, LA	3.0	2.0	1306	$2,100	$1.61	17d	1	0.88mi
527 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1687	$3,500	$2.07	44d	1	0.88mi
515 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1644	$3,600	$2.19	44d	1	0.90mi
1466 N White St New Orleans, LA	3.0	1.5	1500	$2,250	$1.50	3d	1	0.93mi
326 S Dorgenois St Unit 326 New Orleans, LA	4.0	3.0	1510	$2,300	$1.52	2d	1	0.94mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.94mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	44d	1	0.95mi
535 Decatur St Unit 3 New Orleans, LA	3.0	2.0	1600	$2,800	$1.75	12d	1	0.95mi

Listing history 21 events

1. 2026-06-18
   days on market $299,900 Active 96 DOM
2. 2026-06-17
   days on market $299,900 Active 95 DOM
3. 2026-06-16
   days on market $299,900 Active 94 DOM
4. 2026-06-15
   days on market $299,900 Active 93 DOM
5. 2026-06-13
   days on market $299,900 Active 91 DOM
6. 2026-06-10
   days on market $299,900 Active 88 DOM
7. 2026-06-09
   days on market $299,900 Active 87 DOM
8. 2026-06-08
   days on market $299,900 Active 86 DOM
9. 2026-06-07
   days on market $299,900 Active 85 DOM
10. 2026-06-05
    days on market $299,900 Active 82 DOM
11. 2026-06-03
    days on market $299,900 Active 81 DOM
12. 2026-06-02
    days on market $299,900 Active 80 DOM
13. 2026-06-01
    days on market $299,900 Active 79 DOM
14. 2026-05-31
    days on market $299,900 Active 78 DOM
15. 2026-03-13
    listed $299,900 Active 1062-char remark

    Show marketing remark (1057 chars)

    Step into the charm and potential of this traditional New Orleans shotgun-style duplex, offering a rare opportunity to finish a renovation and create something truly special. This historic property retains the classic architectural character that makes New Orleans homes so desirable, while much of the heavy lifting has already been started. Each unit features the hallmark shotgun layout with tall ceilings, original architectural details, and abundant natural light. Renovations are already in progress, giving the next owner a head start while still leaving room to add personal design choices and finishing touches. With major updates already initiated, this property is well-suited for investors, renovators, or homeowners looking to customize a property to their taste. Complete the vision and unlock the full potential--whether as an income-producing rental, a live-in duplex, or a long-term investment. Located in a vibrant New Orleans neighborhood, Treme, this duplex offers strong rental potential and the timeless appeal of historic city living.

16. 2026-03-13
    listed $299,900 Active 1057-char remark

    Show marketing remark (1057 chars)

    Step into the charm and potential of this traditional New Orleans shotgun-style duplex, offering a rare opportunity to finish a renovation and create something truly special. This historic property retains the classic architectural character that makes New Orleans homes so desirable, while much of the heavy lifting has already been started. Each unit features the hallmark shotgun layout with tall ceilings, original architectural details, and abundant natural light. Renovations are already in progress, giving the next owner a head start while still leaving room to add personal design choices and finishing touches. With major updates already initiated, this property is well-suited for investors, renovators, or homeowners looking to customize a property to their taste. Complete the vision and unlock the full potential--whether as an income-producing rental, a live-in duplex, or a long-term investment. Located in a vibrant New Orleans neighborhood, Treme, this duplex offers strong rental potential and the timeless appeal of historic city living.

17. 2022-03-11
    price $289,000
18. 2021-08-21
    price $279,000
19. 2021-03-10
    listed $289,000
20. 2019-08-23
    listed $229,000
21. 1999-12-30
    soldstatus $52,000

ⓘ 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: $2,742 · $228/mo
• Projected year-2 tax: $2,742 · $228/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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,028
• − Mortgage interest: −$16,799
• − Property taxes: −$2,742
• − Insurance: −$2,297
• − Repairs & maintenance: −$3,282
• − Management: −$3,282
• − Depreciation: −$8,724
• Taxable income: $3,901
• Est. tax owed @ 24.0%: −$936
• After-tax cash flow: $7,565/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): 10,404
• Household income: $52,306
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 1001.0

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 0.63)
• Race & ethnicity: White 45% Black 40% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Mexican 1% Cuban 3%
• Common ancestry: Lithuanian 6% Slovak 3% Romanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 2%

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: ▼ -144.83%
• Current HPI: 275.5453
• Rent YoY: ▲ 0.18%
• 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

+476.7% since first listed

7 events — show timeline

• 2026-03-13 Listed $299,900 AcadianaMLS
• 2026-03-13 Listed $299,900 GSREIN
• 2022-03-11 Price Changed $289,000 GSREIN
• 2021-08-21 Price Changed $279,000 GSREIN
• 2021-03-10 Listed $289,000 AcadianaMLS
• 2019-08-23 Listed $229,000 AcadianaMLS
• 1999-12-30 Sold (Public Records) $52,000 Public Records

Property tax history

+23.1%/yr

Latest (2026): $2,742 · +1.1% YoY. Source: county tax records.