2163 21 Sumpter St · New Orleans, LA 70122

$205,000

5 bd · 3.0 ba · 1,993 sqft · MultiFamily · 179 Days on market

Built 1939 Est $219k · 6% under

---

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 +10.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

A home flippers dream. 3 bedroom, 2 bath house on main floor with updated kitchen and bathrooms. 2nd floor is a 2 bedroom 1 bath apartment. Huge backyard. Steps from Brother Martin. Priced to sell. Property is not in a flood zone. New roof in 2022. The property was recently vandalized and will need new electrical and plumbing. Property is to be sold "As-Is, Where-Is". Call or text Burden Edmonds to set up your appointment 225-931-9222

Key facts

• Huge backyard
• Updated bathrooms
• Updated kitchen

Tags

• UPDATED KITCHEN
• UPDATED BATHROOMS
• HUGE BACKYARD

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath multifamily listed at $205k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $205k).
• Recommended offer: $180k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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 soft (-0.6%/yr); 332 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,764/mo this rent would consume 91% 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 $1k of loan paydown is wiped out by about $6k 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 $57k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y ago; this cycle's ask has dropped $94k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $138k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1939 — 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 $180,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 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 1939 — 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: 1.84% ✓
• Cap rate: 15.41%
• Cash-on-cash: 32.55%
• DSCR: 2.45
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $219,230
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4949 -51 Arts St	0.53mi	4/2.0 (-1)	2,000 (+0%)	13mo	$270,000	$135	55
5305 Wingate Dr	0.66mi	5/3.0	1,800 (-10%)	3mo	$100,000	$56	50
5523 25 Elysian Fields Ave	0.70mi	4/2.0 (-1)	1,908 (-4%)	10mo	$210,000	$110	43
2332 Jasmine St	0.48mi	4/2.0 (-1)	2,132 (+7%)	22mo	$140,500	$66	38
2500-2502 Verbena St	0.62mi	4/2.0 (-1)	1,794 (-10%)	19mo	$191,000	$106	30
4768 Lafaye St	0.73mi	4/2.0 (-1)	1,850 (-7%)	22mo	$315,000	$170	27
2824 22 Gentilly Blvd	0.70mi	4/2.0 (-1)	2,190 (+10%)	24mo	$292,000	$133	22
2507-09 Dreux Ave	0.68mi	4/2.0 (-1)	1,768 (-11%)	24mo	$170,000	$96	20

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: 22.5%
• Equity multiple: 1.88×
• Total profit: $50,772
• Equity at exit: $30,566

10-year hold

• IRR: 28.4%
• Equity multiple: 3.16×
• Total profit: $124,208
• Equity at exit: $17,725

Cash invested: $57,400 (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: 332
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $3,764 medium
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,075/yr
• Insurance: −$85
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$790
• Net cashflow: $1,490

Break-even live

Break-even rent $1,877

Max offer price $205,000

Occupancy floor 55%

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

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,505
▸ 2× units	2	1	$2,258
Total (3 units)			$3,764

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5024 Paris Ave New Orleans, LA	4.0	3.0	2116	$3,000	$1.42	16d	1	0.93mi
2647 Myrtle St Unit 2647 New Orleans, LA	4.0	2.0	1445	$2,550	$1.76	44d	1	0.95mi
2458 Athis St New Orleans, LA	4.0	2.0	1530	$2,200	$1.44	24d	1	0.96mi
5716 Warrington Dr New Orleans, LA	4.0	3.0	1560	$2,000	$1.28	17d	1	1.00mi
6010 Pasteur Blvd New Orleans, LA	4.0	3.0	2010	$2,600	$1.29	17d	1	1.03mi
2739 Bay St Unit B New Orleans, LA	4.0	2.0	1400	$1,800	$1.29	20d	1	1.15mi

Listing history 11 events

1. 2026-03-16
   status Pending 448-char remark

   Show marketing remark (448 chars)

   A home flippers dream. 3 bedroom, 2 bath house on main floor with updated kitchen and bathrooms. 2nd floor is a 2 bedroom 1 bath apartment. Huge backyard. Steps from Brother Martin. Priced to sell. Property is not in a flood zone. New roof in 2022. The property was recently vandalized and will need new electrical and plumbing. Property is to be sold "As-Is, Where-Is". Call or text Burden Edmonds to set up your appointment 225-931-9222

2. 2026-03-16
   status Pending

   Show marketing remark (448 chars)

   A home flippers dream. 3 bedroom, 2 bath house on main floor with updated kitchen and bathrooms. 2nd floor is a 2 bedroom 1 bath apartment. Huge backyard. Steps from Brother Martin. Priced to sell. Property is not in a flood zone. New roof in 2022. The property was recently vandalized and will need new electrical and plumbing. Property is to be sold "As-Is, Where-Is". Call or text Burden Edmonds to set up your appointment 225-931-9222

3. 2025-12-29
   status Active
4. 2025-12-05
   status Pending
5. 2025-11-07
   price $205,000 448-char remark

   Show marketing remark (448 chars)

   A home flippers dream. 3 bedroom, 2 bath house on main floor with updated kitchen and bathrooms. 2nd floor is a 2 bedroom 1 bath apartment. Huge backyard. Steps from Brother Martin. Priced to sell. Property is not in a flood zone. New roof in 2022. The property was recently vandalized and will need new electrical and plumbing. Property is to be sold "As-Is, Where-Is". Call or text Burden Edmonds to set up your appointment 225-931-9222

6. 2025-11-06
   price $205,000
7. 2025-08-19
   listed $299,000 Active 448-char remark

   Show marketing remark (448 chars)

   A home flippers dream. 3 bedroom, 2 bath house on main floor with updated kitchen and bathrooms. 2nd floor is a 2 bedroom 1 bath apartment. Huge backyard. Steps from Brother Martin. Priced to sell. Property is not in a flood zone. New roof in 2022. The property was recently vandalized and will need new electrical and plumbing. Property is to be sold "As-Is, Where-Is". Call or text Burden Edmonds to set up your appointment 225-931-9222

8. 2025-08-19
   listed $299,000 Active

   Show marketing remark (448 chars)

   A home flippers dream. 3 bedroom, 2 bath house on main floor with updated kitchen and bathrooms. 2nd floor is a 2 bedroom 1 bath apartment. Huge backyard. Steps from Brother Martin. Priced to sell. Property is not in a flood zone. New roof in 2022. The property was recently vandalized and will need new electrical and plumbing. Property is to be sold "As-Is, Where-Is". Call or text Burden Edmonds to set up your appointment 225-931-9222

9. 2014-07-21
   soldstatus $138,500 316-char remark

   Show marketing remark (316 chars)

   Great Investment potential. Wonderful location just a half block from Brother Martin, shopping, public transportation & easy access to all major interstate connections. House sits on a key lot with generous parking and gardening potential. Upstairs unit needs updating. Measurements are approx and sold w/ WOR.

10. 2013-10-22
    listed $155,000 316-char remark

    Show marketing remark (316 chars)

    Great Investment potential. Wonderful location just a half block from Brother Martin, shopping, public transportation & easy access to all major interstate connections. House sits on a key lot with generous parking and gardening potential. Upstairs unit needs updating. Measurements are approx and sold w/ WOR.

11. 2013-10-22
    listed $155,000

    Show marketing remark (316 chars)

    Great Investment potential. Wonderful location just a half block from Brother Martin, shopping, public transportation & easy access to all major interstate connections. House sits on a key lot with generous parking and gardening potential. Upstairs unit needs updating. Measurements are approx and sold w/ WOR.

ⓘ 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 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: $45,168
• − Mortgage interest: −$11,483
• − Property taxes: −$3,075
• − Insurance: −$1,822
• − Repairs & maintenance: −$3,613
• − Management: −$3,613
• − Depreciation: −$5,964
• Taxable income: $15,597
• Est. tax owed @ 24.0%: −$3,743
• After-tax cash flow: $14,141/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

+32.3% since first listed

11 events — show timeline

• 2026-03-16 Pending — AcadianaMLS
• 2026-03-16 Pending — GSREIN
• 2025-12-29 Relisted — GSREIN
• 2025-12-05 Pending — GSREIN
• 2025-11-07 Price Changed $205,000 AcadianaMLS
• 2025-11-06 Price Changed $205,000 GSREIN
• 2025-08-19 Listed $299,000 GSREIN
• 2025-08-19 Listed $299,000 AcadianaMLS
• 2014-07-21 Sold (MLS) $138,500 GSREIN
• 2013-10-22 Listed $155,000 AcadianaMLS
• 2013-10-22 Listed $155,000 GSREIN