2241-43 Kraft Pl · New Orleans, LA 70114

$205,000

None bd · None ba · 1,730 sqft · MultiFamily · 22 Days on market

Good condition 5,060 sqft lot Est $168k · 22% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.3/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Investors. Take advantage of the opportunity to own this property situated in a quiet established neighborhood with long term tenants. This property has been well maintained. It is conveniently located in an area that has easy access to businesses, major interstates and the vibrant entertainment scene of New Orleans. The consistent stream of income makes it an ideal addition to any investment portfolio. Furnished photos are of 2241 & vacant photos are of 2243 which is vacant until June 23rd 2026. Separate meters. Tenants pay their own utilities.

Key facts

• Major interstates
• Separate meters
• 5,060 sq ft lot

Tags

• QUIET ESTABLISHED NEIGHBORHOOD
• EASY ACCESS TO BUSINESSES
• MAJOR INTERSTATES
• VIBRANT ENTERTAINMENT SCENE
• SEPARATE METERS

Property features AI

Exterior

• Home design: Duplex; 2 total units
• Construction: Brick construction; Composition roof
• Exterior features: Brick exterior; Other fencing; Composition roof

Interior

• Heating & cooling: Central heating; Central air conditioning
• Interior features: Central heating; Central air conditioning

What this means for you Summary

Snapshot

• This is a multifamily listed at $205k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Recommended offer: $202k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% 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 (-0.7%/yr); 265 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $2,787/mo this rent would consume 77% of the median local household income ($43k/yr) (locally 2240% 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.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $201,925 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.36% ✓
• Cap rate: 10.89%
• Cash-on-cash: 16.41%
• DSCR: 1.73
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $167,810
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2238 40 Kraft Pl	0.03mi	4/2.0	1,726 (-0%)	5mo	$199,000	$115	94
2208 10 Kraft Pl	0.05mi	4/2.0	1,729 (-0%)	8mo	$160,000	$93	91
2317 19 Kraft Pl	0.04mi	4/2.0	1,716 (-1%)	20mo	$163,500	$95	80
1626 28 Numa St	0.42mi	4/3.0	1,650 (-5%)	8mo	$247,550	$150	66
1400 02 Behrman Ave	0.44mi	4/2.0	1,673 (-3%)	17mo	$160,000	$96	60
1217 19 Elizardi St	0.53mi	4/2.0	1,655 (-4%)	12mo	$160,000	$97	58

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: -9.0%
• Equity multiple: 0.68×
• Total profit: $-18,250
• Equity at exit: $30,566

10-year hold

• IRR: -5.4%
• Equity multiple: 0.71×
• Total profit: $-16,822
• 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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $2,787 high
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,075/yr
• Insurance: −$85
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$585
• Net cashflow: $358

Break-even live

Break-even rent $2,333

Max offer price $205,000

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,788
Total (2 units)			$2,787

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 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1719 Pace Blvd New Orleans, LA	3.0	1.0	1178	$2,000	$1.70	12d	1	0.42mi
3000 Americus St New Orleans, LA	3.0	2.0	1280	$1,400	$1.09	24d	1	0.59mi
1402 Behrman Ave New Orleans, LA	2.0	1.0	1673	$1,500	$0.90	24d	1	0.61mi
1414 Sumner St New Orleans, LA	3.0	2.0	1800	$1,450	$0.81	16d	1	0.62mi
1622 Jo Ann Pl New Orleans, LA	3.0	1.5	1301	$1,500	$1.15	2d	1	0.64mi
1565 Murl St Unit B New Orleans, LA	2.0	2.0	1100	$1,100	$1.00	24d	1	0.72mi
1010 Isbell St Gretna, LA	3.0	1.0	1300	$1,350	$1.04	44d	1	0.76mi
1108 Sumner St New Orleans, LA	3.0	1.5	1197	$1,500	$1.25	12d	1	0.83mi
21 Carriage Ln New Orleans, LA	3.0	2.5	1900	$2,000	$1.05	21d	1	0.87mi
718 Majestic Pl New Orleans, LA	3.0	2.0	1164	$1,785	$1.53	21d	1	0.99mi
513 Park Blvd New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	3d	1	1.08mi
3725 Macarthur Blvd Unit 2A New Orleans, LA	2.0	2.0	1200	$2,750	$2.29	19d	1	1.10mi
913 Milton St Gretna, LA	3.0	1.0	1061	$2,800	$2.64	44d	1	1.10mi
1318 Monroe St Gretna, LA	2.0	1.0	1200	$1,595	$1.33	3d	1	1.10mi
701 Behrman Ave New Orleans, LA	3.0	2.0	1368	$2,300	$1.68	3d	1	1.12mi
807 Whitney Ave Unit 1 New Orleans, LA	3.0	2.0	1262	$1,500	$1.19	3d	1	1.12mi
300 Terry Pkwy Unit C Terrytown, LA	3.0	2.5	1532	$1,800	$1.17	24d	1	1.16mi
241 Helen St Unit 4D Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	44d	1	1.24mi
241 Helen St Unit 3c Terrytown, LA	2.0	1.5	1383	$1,400	$1.01	21d	1	1.24mi
606 Drum St New Orleans, LA	3.0	2.0	1131	$2,350	$2.08	24d	1	1.25mi
2123 Browning Ln Terrytown, LA	3.0	1.5	1073	$1,650	$1.54	3d	1	1.28mi
310 Coral Ave Gretna, LA	3.0	1.5	1216	$1,750	$1.44	24d	1	1.30mi
1140 Teche St Apt B New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	24d	1	1.34mi
721 Hinyub Ave Unit D Gretna, LA	2.0	1.5	1200	$1,250	$1.04	44d	1	1.34mi
507 Newton St New Orleans, LA	2.0	2.0	1150	$1,400	$1.22	24d	1	1.36mi
543 Atlantic Ave New Orleans, LA	2.0	2.5	1430	$2,200	$1.54	24d	1	1.40mi
349 Cherry Blossom Ln Terrytown, LA	3.0	1.5	1225	$1,600	$1.31	24d	1	1.40mi
14 Gelbke Dr Gretna, LA	3.0	2.0	1327	$1,800	$1.36	24d	1	1.41mi
14 Gelbke Dr Gretna, LA	3.0	2.0	1327	$1,950	$1.47	44d	1	1.41mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	24d	1	1.42mi
335 Whitney Ave New Orleans, LA	2.0	1.0	1100	$1,575	$1.43	24d	1	1.44mi
423 E Butterfly Cir Terrytown, LA	3.0	1.5	1189	$1,500	$1.26	24d	1	1.47mi

Listing history 14 events

1. 2026-06-18
   days on market $205,000 Active 22 DOM
2. 2026-06-17
   days on market $205,000 Active 21 DOM
3. 2026-06-16
   days on market $205,000 Active 20 DOM
4. 2026-06-15
   days on market $205,000 Active 19 DOM
5. 2026-06-13
   days on market $205,000 Active 17 DOM
6. 2026-06-10
   days on market $205,000 Active 14 DOM
7. 2026-06-09
   days on market $205,000 Active 13 DOM
8. 2026-06-08
   days on market $205,000 Active 12 DOM
9. 2026-06-07
   days on market $205,000 Active 11 DOM
10. 2026-06-05
    days on market $205,000 Active 8 DOM
11. 2026-06-03
    days on market $205,000 Active 7 DOM
12. 2026-06-02
    days on market $205,000 Active 6 DOM
13. 2026-06-02
    remarks 553-char remark
14. 2026-06-02
    listed $205,000 Active 5 DOM

ⓘ 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 9/10 Extreme FEMA zone AE · 76% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,444
• − Mortgage interest: −$11,483
• − Property taxes: −$3,075
• − Insurance: −$6,144
• − Repairs & maintenance: −$2,676
• − Management: −$2,676
• − Depreciation: −$5,964
• Taxable income: $1,428
• Est. tax owed @ 24.0%: −$343
• After-tax cash flow: $3,959/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This property is in good condition with cosmetic updates needed to enhance its curb appeal and interior aesthetics, making it an ideal investment opportunity.

Repairs flagged

• Minor Kitchen cabinets — Worn but still functional, could be refinished or replaced.
• Minor Kitchen appliances — Older models, could be replaced for a fresh look.

Value-add opportunities

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics.
• Both Replace kitchen cabinets and appliances — Modernizing the kitchen will attract more buyers and renters.
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value.
• Both Replace carpet with hardwood or tile — Hardwood or tile flooring is more durable and aesthetically pleasing, increasing both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn but still functional, could be refinished or replaced.	Minor	$500–3,000
Kitchen appliances · Older models, could be replaced for a fresh look.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Replace kitchen cabinets and appliances — Modernizing the kitchen will attract more buyers and renters. ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value. ↑
• Both Replace carpet with hardwood or tile — Hardwood or tile flooring is more durable and aesthetically pleasing, increasing both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-28 Rental Removed $1,200 GSREIN
• 2026-05-27 Listed $205,000 AcadianaMLS
• 2026-05-06 Listed for Rent $1,200 GSREIN