3512 Gibson St · New Orleans, LA 70122

$149,000

2 bd · 2.0 ba · 1,296 sqft · MultiFamily public records · 277 Days on market

Built 1970 3,781 sqft lot $115/sqft · 9% below area Est $164k · 9% 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 +30.0/30.0
• ARV discount +11.6/15.0
• 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: 2 units. confirmed

Listing remarks MLS

Calling all investors! This is a tremendous opportunity to own a Gentilly Duplex in a prime location. This diamond in the rough is waiting for you to make it shine bright!

Key facts

• Gentilly duplex
• 3,781 sq ft lot
• Built 1970

Tags

• GENTILLY DUPLEX

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $149k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $600/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $149k).
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.5% 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); 336 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 $2,776/mo this rent would consume 67% 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 $4k 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 $42k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 277 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; list at $149k implies a 684% gain — meaningful room to come down on a strong offer.

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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 277 days. Have you received any prior offers? Is the seller open to a 12% 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 1970 — 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: 1.86% ✓
• Cap rate: 16.49%
• Cash-on-cash: 36.43%
• DSCR: 2.62
• GRM: 4.5

CMA / ARV

• ARV (median comp): $163,832
• List price: $149,000
• Delta: -9.05%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 26.6%
• Equity multiple: 2.06×
• Total profit: $44,163
• Equity at exit: $22,216

10-year hold

• IRR: 32.3%
• Equity multiple: 3.53×
• Total profit: $105,503
• Equity at exit: $12,883

Cash invested: $41,720 (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: 8.9×

Monthly cashflow live

• Estimated rent: $2,776 high
• Mortgage (P&I): −$781
• Tax from tax record: −$83 /mo · $998/yr
• Insurance: −$62
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $1,200

Break-even live

Break-even rent $1,257

Max offer price $149,000

Occupancy floor 52%

Sensitivity live

Price	-10% $1,284	-5% $1,242	+0% $1,200	+5% $1,158	+10% $1,116
Rent	-10% $981	-5% $1,090	+0% $1,200	+5% $1,310	+10% $1,419
Rate	-1.0pp $1,275	-0.5pp $1,238	base $1,200	+0.5pp $1,161	+1.0pp $1,122

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,776
Total (2 units)			$2,776

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3622 Buchanan St Unit 3622 New Orleans, LA	3.0	1.0	950	$1,525	$1.61	25d	1	0.29mi
1656 Pleasure St New Orleans, LA	2.0	1.0	1190	$1,350	$1.13	25d	1	0.29mi
1664 Saint Denis St New Orleans, LA	2.0	1.0	1000	$2,000	$2.00	25d	1	0.31mi
1506 Treasure St Unit 1506 New Orleans, LA	2.0	1.0	1000	$1,500	$1.50	25d	1	0.33mi
3400 Havana St New Orleans, LA	2.0	2.0	1000	$1,500	$1.50	25d	1	0.38mi
3624 Havana St New Orleans, LA	3.0	1.0	1388	$1,875	$1.35	17d	1	0.38mi
1621 Caton St New Orleans, LA	2.0	1.0	900	$1,300	$1.44	25d	1	0.40mi
3607 Havana St New Orleans, LA	3.0	2.0	1693	$1,488	$0.88	18d	1	0.40mi
3023 Bruxelles St New Orleans, LA	3.0	1.0	960	$2,200	$2.29	16d	1	0.41mi
2913 St Bernard Ave Unit A New Orleans, LA	2.0	1.0	1000	$1,700	$1.70	25d	1	0.42mi
4114 Duplessis St New Orleans, LA	2.0	2.0	1200	$1,800	$1.50	25d	1	0.44mi
4111 Jumonville St New Orleans, LA	3.0	2.5	1543	$2,300	$1.49	11d	1	0.44mi
2910 Bruxelles St New Orleans, LA	3.0	2.0	1074	$1,600	$1.49	4d	1	0.47mi
3015 Castiglione St New Orleans, LA	2.0	1.0	1075	$1,500	$1.40	25d	1	0.47mi
2817 Paris Ave New Orleans, LA	3.0	1.0	1018	$1,700	$1.67	21d	1	0.50mi
4110 Saint Bernard Ave Unit 1 New Orleans, LA	2.0	1.0	1000	$1,215	$1.22	25d	1	0.51mi
4110 St Bernard Ave New Orleans, LA	2.0	1.0	1000	$1,215	$1.22	22d	1	0.51mi
3702 Trafalgar St New Orleans, LA	3.0	2.0	1428	$2,350	$1.65	17d	1	0.52mi
1821 Rosiere St New Orleans, LA	2.0	1.0	1400	$1,300	$0.93	25d	1	0.52mi
1823 Rosiere St New Orleans, LA	2.0	1.0	1400	$1,450	$1.04	25d	1	0.52mi
1486 Mandolin St New Orleans, LA	3.0	2.0	1497	$1,900	$1.27	4d	1	0.53mi
1816 Benefit St New Orleans, LA	2.0	1.0	1148	$1,300	$1.13	17d	1	0.55mi
4117 Roneagle Way Apt D New Orleans, LA	2.0	1.0	1000	$1,400	$1.40	21d	1	0.55mi
4229 Buchanan St New Orleans, LA	3.0	2.0	1235	$2,250	$1.82	25d	1	0.58mi
2175 N Broad St New Orleans, LA	2.0	1.0	1500	$1,500	$1.00	17d	1	0.59mi
2130 N Broad St New Orleans, LA	2.0	1.0	1579	$1,350	$0.85	25d	1	0.64mi
2130 N Broad St Unit 1A New Orleans, LA	2.0	1.0	925	$1,500	$1.62	25d	1	0.64mi
2902 Aubry St New Orleans, LA	2.0	1.0	890	$1,350	$1.52	25d	1	0.65mi
3420 Annette St New Orleans, LA	2.0	1.0	900	$1,200	$1.33	4d	1	0.66mi
2826 Aubry St New Orleans, LA	2.0	1.0	1000	$1,600	$1.60	11d	1	0.67mi
1818 Paul Morphy St Unit B New Orleans, LA	3.0	2.0	1065	$1,800	$1.69	25d	1	0.68mi
2632 Oreilly St New Orleans, LA	3.0	1.5	950	$1,450	$1.53	25d	1	0.72mi
2310 George Nick Connor Dr New Orleans, LA	3.0	2.0	1050	$1,600	$1.52	25d	1	0.75mi
1826 Moss St Unit A New Orleans, LA	1.0	1.0	1200	$1,675	$1.40	21d	1	0.76mi
3515 Saint Anthony Ave New Orleans, LA	3.0	2.0	1366	$2,500	$1.83	25d	1	0.77mi
2338 40 Annette St New Orleans, LA	3.0	1.0	1150	$1,385	$1.20	21d	1	0.79mi
3956 Pauger St New Orleans, LA	2.0	2.0	1200	$1,550	$1.29	25d	1	0.80mi
213 Warrington Dr New Orleans, LA	2.0	1.0	975	$1,500	$1.54	22d	1	0.80mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	17d	1	0.82mi
1922 Industry St Unit B New Orleans, LA	2.0	2.0	963	$1,325	$1.38	3d	1	0.82mi

Listing history 25 events

1. 2026-06-21
   days on market $149,000 Active 277 DOM
2. 2026-06-18
   days on market $149,000 Active 274 DOM
3. 2026-06-17
   days on market $149,000 Active 273 DOM
4. 2026-06-16
   days on market $149,000 Active 272 DOM
5. 2026-06-15
   days on market $149,000 Active 271 DOM
6. 2026-06-13
   days on market $149,000 Active 269 DOM
7. 2026-06-10
   days on market $149,000 Active 266 DOM
8. 2026-06-09
   days on market $149,000 Active 265 DOM
9. 2026-06-08
   days on market $149,000 Active 264 DOM
10. 2026-06-07
    days on market $149,000 Active 263 DOM
11. 2026-06-05
    days on market $149,000 Active 260 DOM
12. 2026-06-03
    days on market $149,000 Active 259 DOM
13. 2026-06-02
    days on market $149,000 Active 258 DOM
14. 2026-06-01
    days on market $149,000 Active 257 DOM
15. 2026-05-31
    days on market $149,000 Active 256 DOM
16. 2026-03-08
    price $149,000 171-char remark

    Show marketing remark (172 chars)

    Calling all investors! This is a tremendous opportunity to own a Gentilly Duplex in a prime location. This diamond in the rough is waiting for you to make it shine bright!

17. 2026-03-08
    price $149,000 172-char remark

    Show marketing remark (172 chars)

    Calling all investors! This is a tremendous opportunity to own a Gentilly Duplex in a prime location. This diamond in the rough is waiting for you to make it shine bright!

18. 2025-09-09
    listed $159,000 Active 171-char remark

    Show marketing remark (172 chars)

    Calling all investors! This is a tremendous opportunity to own a Gentilly Duplex in a prime location. This diamond in the rough is waiting for you to make it shine bright!

19. 2025-09-09
    listed $159,000 Active 172-char remark

    Show marketing remark (172 chars)

    Calling all investors! This is a tremendous opportunity to own a Gentilly Duplex in a prime location. This diamond in the rough is waiting for you to make it shine bright!

20. 2020-07-10
    listed $139,900
21. 2019-12-19
    price $139,900
22. 2019-09-27
    price $144,900
23. 2019-08-12
    listed $139,900
24. 1997-10-31
    soldstatus $19,000
25. 1996-09-12
    soldstatus $10,666

ⓘ 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: $998 · $83/mo
• Projected year-2 tax: $998 · $83/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: $33,312
• − Mortgage interest: −$8,346
• − Property taxes: −$998
• − Insurance: −$1,542
• − Repairs & maintenance: −$2,665
• − Management: −$2,665
• − Depreciation: −$4,335
• Taxable income: $12,760
• Est. tax owed @ 24.0%: −$3,062
• After-tax cash flow: $11,337/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

+1297.0% since first listed

10 events — show timeline

• 2026-03-08 Price Changed $149,000 AcadianaMLS
• 2026-03-08 Price Changed $149,000 GSREIN
• 2025-09-09 Listed $159,000 GSREIN
• 2025-09-09 Listed $159,000 AcadianaMLS
• 2020-07-10 Listed $139,900 AcadianaMLS
• 2019-12-19 Price Changed $139,900 GSREIN
• 2019-09-27 Price Changed $144,900 GSREIN
• 2019-08-12 Listed $139,900 AcadianaMLS
• 1997-10-31 Sold (Public Records) $19,000 Public Records
• 1996-09-12 Sold (Public Records) $10,666 Public Records

Property tax history

+15.3%/yr

Latest (2026): $998 · +1.1% YoY. Source: county tax records.