4321 23 Touro St · New Orleans, LA 70122

$315,000

6 bd · 2.0 ba · 2,160 sqft · MultiFamily public records · 149 Days on market

Built 1980 $146/sqft · 9% above area Est $334k · 6% under

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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 +23.9/30.0
• ARV discount +10.1/15.0
• DSCR +7.7/10.0
• 1% rule +5.6/10.0
• 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

Prime Gentilly duplex producing strong income. This well-maintained multi-family property in Gentilly sits on a beautiful lot and offers a fantastic opportunity for both investors and owner-occupants. With off-street parking, a spacious front porch, and separate outdoor areas for each unit, this property blends comfort with versatility. One side features a spacious 4-bedroom, 2-bath layout with abundant closet space and a flexible bonus room which can be used as a home office or additional living area. The second unit offers a 2-bedroom, 1-bath setup with a recently updated kitchen and bathroom, making it move-in or rent-ready. Original hardwood floors add charm, while tile accents kitchens, baths, and dining spaces. Both units are tenant occupied, include appliances, and offer washer/dryer hookups with individual storage sheds. Located just minutes from the CBD, Downtown New Orleans, and quick access to I-10, and close to Gentilly shopping, Dillard University, and neighborhood conveniences. Whether you’re looking to generate income or live in one unit while renting the other, this duplex is a solid addition to any portfolio. 24-hour notice required for showings.

Key facts

• Spacious front porch
• Off-street parking
• 2 parking spots

Tags

• OFF-STREET PARKING
• SPACIOUS FRONT PORCH
• SEPARATE OUTDOOR AREAS
• RECENTLY UPDATED KITCHEN
• RECENTLY UPDATED BATHROOM
• ORIGINAL HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $315k.

Deal economics

• At list price, monthly cash flow is $544 ($7k/yr) — positive. Per door: $272/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $315k).
• Recommended offer: $277k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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; 1 comparable units currently listed for rent nearby; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,344/mo this rent would consume 81% 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 $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 149 days — a 12% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 29y 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 $160k; list at $315k implies a 97% 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 $277,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 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: 1.06% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.30%
• DSCR: 1.37
• GRM: 7.8

CMA / ARV

• ARV (median comp): $333,932
• List price: $315,000
• Delta: -5.67%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3340 Saint Anthony Ave	0.69mi	5/3.0 (-1)	2,196 (+2%)	1mo	$120,000	$55	55
3662 Clematis St	0.67mi	5/4.0 (-1)	2,128 (-2%)	2mo	$275,000	$129	52
3407 09 Frenchmen St	0.65mi	5/4.0 (-1)	2,370 (+10%)	11mo	$195,000	$82	31
2137 39 Filmore Ave	0.71mi	5/3.5 (-1)	2,480 (+15%)	7mo	$268,500	$108	25
1525 27 Lafreniere St	0.67mi	6/4.0	2,474 (+14%)	15mo	$423,000	$171	24

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: -8.3%
• Equity multiple: 0.70×
• Total profit: $-26,201
• Equity at exit: $46,968

10-year hold

• IRR: -3.1%
• Equity multiple: 0.82×
• Total profit: $-16,076
• Equity at exit: $27,235

Cash invested: $88,200 (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 70122

• Rents YoY: -0.6%
• Active inventory: 336
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $3,344 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$248 /mo · $2,979/yr
• Insurance: −$131
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$702
• Net cashflow: $544

Break-even live

Break-even rent $2,656

Max offer price $315,000

Occupancy floor 79%

Sensitivity live

Price	-10% $722	-5% $633	+0% $544	+5% $455	+10% $366
Rent	-10% $280	-5% $412	+0% $544	+5% $676	+10% $808
Rate	-1.0pp $703	-0.5pp $624	base $544	+0.5pp $462	+1.0pp $379

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,344
Total (2 units)			$3,344

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	25d	1	1.29mi

Listing history 28 events

1. 2026-06-21
   days on market $315,000 Active 149 DOM
2. 2026-06-18
   days on market $315,000 Active 146 DOM
3. 2026-06-17
   days on market $315,000 Active 145 DOM
4. 2026-06-16
   days on market $315,000 Active 144 DOM
5. 2026-06-15
   days on market $315,000 Active 143 DOM
6. 2026-06-13
   days on market $315,000 Active 141 DOM
7. 2026-06-10
   days on market $315,000 Active 138 DOM
8. 2026-06-09
   days on market $315,000 Active 137 DOM
9. 2026-06-08
   days on market $315,000 Active 136 DOM
10. 2026-06-07
    days on market $315,000 Active 135 DOM
11. 2026-06-05
    days on market $315,000 Active 132 DOM
12. 2026-06-03
    days on market $315,000 Active 131 DOM
13. 2026-06-02
    days on market $315,000 Active 130 DOM
14. 2026-06-01
    days on market $315,000 Active 129 DOM
15. 2026-05-31
    days on market $315,000 Active 128 DOM
16. 2026-01-23
    listed $315,000 Active 1187-char remark

    Show marketing remark (1187 chars)

    Prime Gentilly duplex producing strong income. This well-maintained multi-family property in Gentilly sits on a beautiful lot and offers a fantastic opportunity for both investors and owner-occupants. With off-street parking, a spacious front porch, and separate outdoor areas for each unit, this property blends comfort with versatility. One side features a spacious 4-bedroom, 2-bath layout with abundant closet space and a flexible bonus room which can be used as a home office or additional living area. The second unit offers a 2-bedroom, 1-bath setup with a recently updated kitchen and bathroom, making it move-in or rent-ready. Original hardwood floors add charm, while tile accents kitchens, baths, and dining spaces. Both units are tenant occupied, include appliances, and offer washer/dryer hookups with individual storage sheds. Located just minutes from the CBD, Downtown New Orleans, and quick access to I-10, and close to Gentilly shopping, Dillard University, and neighborhood conveniences. Whether you’re looking to generate income or live in one unit while renting the other, this duplex is a solid addition to any portfolio. 24-hour notice required for showings.

17. 2024-06-30
    historical $1,775
18. 2024-06-26
    listed $1,775
19. 2023-08-08
    historical $1,775
20. 2023-08-01
    listed $1,775
21. 2018-06-20
    soldstatus $160,000 Sold 41-char remark

    Show marketing remark (41 chars)

    All brick double with off-street parking.

22. 2018-05-16
    status Under Contract 41-char remark

    Show marketing remark (41 chars)

    All brick double with off-street parking.

23. 2018-05-07
    listed $160,000 Active 41-char remark

    Show marketing remark (41 chars)

    All brick double with off-street parking.

24. 2018-05-07
    listed $160,000

    Show marketing remark (41 chars)

    All brick double with off-street parking.

25. 1997-03-26
    soldstatus $80,000
26. 1997-03-26
    soldstatus $80,000
27. 1997-01-27
    listed $90,000
28. 1989-11-15
    soldstatus $70,500

ⓘ 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: $2,979 · $248/mo
• Projected year-2 tax: $2,979 · $248/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 · 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: $40,128
• − Mortgage interest: −$17,645
• − Property taxes: −$2,979
• − Insurance: −$2,372
• − Repairs & maintenance: −$3,210
• − Management: −$3,210
• − Depreciation: −$9,164
• Taxable income: $1,547
• Est. tax owed @ 24.0%: −$371
• After-tax cash flow: $6,155/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

+346.8% since first listed

13 events — show timeline

• 2026-01-23 Listed $315,000 GSREIN
• 2024-06-30 Rental Removed $1,775 GSREIN
• 2024-06-26 Listed for Rent $1,775 GSREIN
• 2023-08-08 Rental Removed $1,775 GSREIN
• 2023-08-01 Listed for Rent $1,775 GSREIN
• 2018-06-20 Sold (MLS) $160,000 GSREIN
• 2018-05-16 Pending — GSREIN
• 2018-05-07 Listed $160,000 AcadianaMLS
• 2018-05-07 Listed $160,000 GSREIN
• 1997-03-26 Sold (Public Records) $80,000 Public Records
• 1997-03-26 Sold (MLS) $80,000 GSREIN
• 1997-01-27 Listed $90,000 GSREIN
• 1989-11-15 Sold (Public Records) $70,500 Public Records

Property tax history

+4.4%/yr

Latest (2026): $2,979 · +1.1% YoY. Source: county tax records.