14051-53 Wales St · New Orleans, LA 70128

$185,000

6 bd · 4.0 ba · 2,140 sqft · MultiFamily public records · 148 Days on market

Built 1980 5,083 sqft lot $86/sqft · at area comps Est $183k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.1/15.0
• 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

Investor Alert - Income-Producing Opportunity! Duplex featuring 3-bedroom, 2-bath on each side. Located one block off Haynes Blvd. Convenient access to major roads, shopping, schools, and local amenities. A solid addition to an investment portfolio with the opportunity for steady income.

Key facts

• Convenient access
• Local amenities
• Duplex

Tags

• INCOME PRODUCING OPPORTUNITY
• DUPLEX
• CONVENIENT ACCESS
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $942 ($11k/yr) — positive. Per door: $471/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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: 105 active listings in the ZIP; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).

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 + 3.0% rent growth), your $52k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 33y 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 $53k; list at $185k implies a 252% 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 $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.53% ✓
• Cap rate: 12.83%
• Cash-on-cash: 23.36%
• DSCR: 2.04
• GRM: 5.4

CMA / ARV

• ARV (median comp): $183,412
• List price: $185,000
• Delta: 0.87%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13901 03 Linden St	0.17mi	6/4.0	2,080 (-3%)	2mo	$178,000	$86	86

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.58×
• Total profit: $30,064
• Equity at exit: $27,584

10-year hold

• IRR: 23.3%
• Equity multiple: 3.00×
• Total profit: $103,635
• Equity at exit: $15,995

Cash invested: $51,800 (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 70128

• Home prices YoY: -5.9%
• Active inventory: 105
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,829 high
• Mortgage (P&I): −$970
• Tax from tax record: −$179 /mo · $2,152/yr
• Insurance: −$77
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $942

Break-even live

Break-even rent $1,637

Max offer price $185,000

Occupancy floor 62%

Sensitivity live

Price	-10% $1,047	-5% $994	+0% $942	+5% $890	+10% $837
Rent	-10% $718	-5% $830	+0% $942	+5% $1,054	+10% $1,165
Rate	-1.0pp $1,035	-0.5pp $989	base $942	+0.5pp $894	+1.0pp $845

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,830
Total (2 units)			$2,829

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $185,000 Active 148 DOM
2. 2026-06-17
   days on market $185,000 Active 147 DOM
3. 2026-06-16
   days on market $185,000 Active 146 DOM
4. 2026-06-15
   days on market $185,000 Active 145 DOM
5. 2026-06-13
   statusdays on market $185,000 Active 143 DOM
6. 2026-06-10
   status $185,000 Pending 142 DOM
7. 2026-06-09
   days on market $185,000 Active 142 DOM
8. 2026-06-08
   days on market $185,000 Active 141 DOM
9. 2026-06-07
   days on market $185,000 Active 140 DOM
10. 2026-06-05
    days on market $185,000 Active 137 DOM
11. 2026-06-03
    days on market $185,000 Active 136 DOM
12. 2026-06-02
    days on market $185,000 Active 135 DOM
13. 2026-06-01
    days on market $185,000 Active 134 DOM
14. 2026-05-31
    days on market $185,000 Active 133 DOM
15. 2025-12-12
    listed $185,000 Active 291-char remark

    Show marketing remark (288 chars)

    Investor Alert - Income-Producing Opportunity! Duplex featuring 3-bedroom, 2-bath on each side. Located one block off Haynes Blvd. Convenient access to major roads, shopping, schools, and local amenities. A solid addition to an investment portfolio with the opportunity for steady income.

16. 2025-12-12
    listed $185,000 Active 288-char remark

    Show marketing remark (288 chars)

    Investor Alert - Income-Producing Opportunity! Duplex featuring 3-bedroom, 2-bath on each side. Located one block off Haynes Blvd. Convenient access to major roads, shopping, schools, and local amenities. A solid addition to an investment portfolio with the opportunity for steady income.

17. 1993-10-29
    soldstatus $52,581
18. 1993-04-08
    listed $44,900
19. 1993-04-08
    listed $44,900
20. 1980-03-13
    soldstatus $79,070

ⓘ 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: $2,152 · $179/mo
• Projected year-2 tax: $2,152 · $179/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 3/10 Moderate
• 🌡 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,948
• − Mortgage interest: −$10,363
• − Property taxes: −$2,152
• − Insurance: −$1,722
• − Repairs & maintenance: −$2,716
• − Management: −$2,716
• − Depreciation: −$5,382
• Taxable income: $8,897
• Est. tax owed @ 24.0%: −$2,135
• After-tax cash flow: $9,167/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
• City population: 338,817
• Population (ZIP): 22,973

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 (86%)
• Race & ethnicity: Black 86% Asian 5% White 4% Two or more races 3%
• Foreign-born: 4% · Vietnam, Canada
• Languages at home: 95% English-only · Vietnamese 4% Spanish 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: ▼ -15.51%
• Current HPI: 247.7131
• Rent YoY: —
• Metro: —
• 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

+134.0% since first listed

6 events — show timeline

• 2025-12-12 Listed $185,000 AcadianaMLS
• 2025-12-12 Listed $185,000 GSREIN
• 1993-10-29 Sold (MLS) $52,581 GSREIN
• 1993-04-08 Listed $44,900 AcadianaMLS
• 1993-04-08 Listed $44,900 GSREIN
• 1980-03-13 Sold (Public Records) $79,070 Public Records

Property tax history

+2.4%/yr

Latest (2026): $2,152 · +1.1% YoY. Source: county tax records.