2119 21 Robin St · New Orleans, LA 70122

$220,000

4 bd · 2.0 ba · 1,686 sqft · MultiFamily · 143 Days on market

Built 1960 $130/sqft · 14% below area Est $255k · 14% 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 +28.5/30.0
• ARV discount +13.7/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• 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

Now Available--This well-appointed Gentilly double offers comfortable, practical living in a convenient location and presents a flexible opportunity for both owner-occupants and investors. Call it home while the other unit helps offset your mortgage—or add it to your real estate investment portfolio. The property features two separate units—upstairs and downstairs—each with 2 independent bedrooms and 1 full bath, allowing for versatile use. Both units include a refrigerator and range/oven, with washer and dryer included. The upstairs unit also includes a dishwasher. Durable wood-look ceramic tile flooring throughout allows for easy maintenance—no carpet. Additional features include: Central air and heat for year-round comfort, separate water meters for each unit, independent bedrooms for added privacy, spacious backyard suitable for outdoor use. It is conveniently located near Elysian Fields Avenue and Filmore Avenue, offering easy access to University of New Orleans, Dillard University, and major thoroughfares including I-610, I-10, Lakeshore Drive, and Gentilly Boulevard. Schedule your showing today to explore this versatile Gentilly opportunity. The property is currently fully tenant-occupied so please allow 48-hour notice for showings.

Key facts

• Spacious backyard
• Two separate units
• Central air and heat

Tags

• TWO SEPARATE UNITS
• INDEPENDENT BEDROOMS
• SPACIOUS BACKYARD
• CENTRAL AIR AND HEAT
• SEPARATE WATER METERS
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $649 ($8k/yr) — positive. Per door: $324/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $194k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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; 40 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 $2,830/mo this rent would consume 69% 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 $7k 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 143 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 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 $54k; list at $220k implies a 311% 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 $193,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 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 1960 — 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: 1.29% ✓
• Cap rate: 10.19%
• Cash-on-cash: 13.93%
• DSCR: 1.62
• GRM: 6.5

CMA / ARV

• ARV (median comp): $255,403
• List price: $220,000
• Delta: -13.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5313 Wickfield Dr	0.38mi	4/2.0	1,665 (-1%)	8mo	$165,000	$99	74
2032 34 Elysian Fields Ave	0.29mi	4/2.0	1,668 (-1%)	15mo	$310,000	$186	72
5305 Wingate Dr	0.32mi	5/3.0 (+1)	1,800 (+7%)	3mo	$100,000	$56	62
5549 51 Vermillion Blvd	0.39mi	3/2.0 (-1)	1,547 (-8%)	2mo	$245,000	$158	62
5219 Spain St	0.35mi	3/2.0 (-1)	1,827 (+8%)	9mo	$85,000	$47	57
5523 25 Elysian Fields Ave	0.29mi	4/2.0	1,908 (+13%)	10mo	$210,000	$110	56
4424 Annette St	0.60mi	4/3.5	1,664 (-1%)	17mo	$230,000	$138	50
2127-29 Mandolin St	0.65mi	4/2.0	1,474 (-13%)	3mo	$230,000	$156	46
2507-09 Dreux Ave	0.58mi	4/2.0	1,768 (+5%)	24mo	$170,000	$96	45

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: -1.1%
• Equity multiple: 0.96×
• Total profit: $-2,533
• Equity at exit: $32,803

10-year hold

• IRR: 4.9%
• Equity multiple: 1.31×
• Total profit: $19,298
• Equity at exit: $19,022

Cash invested: $61,600 (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: 13.0×

Monthly cashflow live

• Estimated rent: $2,830 high
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $649

Break-even live

Break-even rent $2,009

Max offer price $220,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,830
Total (2 units)			$2,830

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5151 Saint Anthony Ave New Orleans, LA	3.0	2.0	1200	$1,795	$1.50	15d	1	0.16mi
5322 Saint Anthony Ave New Orleans, LA	3.0	2.0	1192	$2,000	$1.68	15d	1	0.29mi
5546 Pasteur Blvd Unit A New Orleans, LA	3.0	1.0	1200	$1,400	$1.17	23d	1	0.36mi
4736 Saint Anthony Ave New Orleans, LA	3.0	1.0	1100	$1,800	$1.64	15d	1	0.36mi
5519 Mandeville St New Orleans, LA	3.0	1.0	1125	$1,650	$1.47	3d	1	0.38mi
5718 Vermillion Blvd Unit A New Orleans, LA	3.0	1.0	1300	$2,000	$1.54	23d	1	0.45mi
4618 Marigny St New Orleans, LA	3.0	1.0	1320	$1,900	$1.44	23d	1	0.46mi
5723 Pasteur Blvd New Orleans, LA	3.0	2.0	1150	$1,700	$1.48	16d	1	0.46mi
4815 Warrington Dr New Orleans, LA	3.0	2.0	1652	$2,150	$1.30	15d	1	0.47mi
5172 Venus St Unit 5172 New Orleans, LA	3.0	2.5	1864	$2,450	$1.31	23d	1	0.59mi
6009 Pasteur Blvd New Orleans, LA	3.0	2.0	1250	$1,785	$1.43	23d	1	0.60mi
6010 Pasteur Blvd New Orleans, LA	4.0	3.0	2010	$2,600	$1.29	16d	1	0.60mi
5716 Warrington Dr New Orleans, LA	4.0	3.0	1560	$2,000	$1.28	16d	1	0.61mi
2458 Athis St New Orleans, LA	4.0	2.0	1530	$2,200	$1.44	23d	1	0.67mi
6079 Saint Anthony Ave New Orleans, LA	3.0	2.0	1400	$2,400	$1.71	15d	1	0.71mi
1903 Rosary Dr New Orleans, LA	3.0	2.0	1500	$1,800	$1.20	23d	1	0.72mi
1940 Allen Toussaint Blvd Unit 1940 New Orleans, LA	3.0	2.0	1500	$1,600	$1.07	23d	1	0.76mi
1940 Allen Toussaint Blvd New Orleans, LA	3.0	2.0	1500	$1,550	$1.03	11d	1	0.76mi
6202 Vermillion Blvd New Orleans, LA	3.0	2.0	1200	$1,700	$1.42	15d	1	0.77mi
5024 Paris Ave New Orleans, LA	4.0	3.0	2116	$3,000	$1.42	15d	1	0.79mi
6217 Curie St New Orleans, LA	3.0	2.0	1700	$1,500	$0.88	23d	1	0.80mi
4767 Lafaye St New Orleans, LA	3.0	2.0	1469	$2,000	$1.36	23d	1	0.83mi
5900 Chatham Dr New Orleans, LA	3.0	2.0	1864	$2,500	$1.34	3d	1	0.83mi
4936 Baccich St New Orleans, LA	3.0	1.0	1053	$1,700	$1.61	23d	1	0.83mi
3907 Elysian Fields Ave New Orleans, LA	3.0	2.0	1652	$3,000	$1.82	23d	1	0.90mi
6329 Spain St New Orleans, LA	3.0	2.0	1545	$2,100	$1.36	15d	1	0.94mi
2701 03 Frankfort St New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	23d	1	1.10mi
1486 Mandolin St New Orleans, LA	3.0	2.0	1497	$1,900	$1.27	3d	1	1.12mi
3515 Saint Anthony Ave New Orleans, LA	3.0	2.0	1366	$2,500	$1.83	23d	1	1.17mi
3624 Havana St New Orleans, LA	3.0	1.0	1388	$1,875	$1.35	15d	1	1.21mi
3607 Havana St New Orleans, LA	3.0	2.0	1693	$1,488	$0.88	16d	1	1.22mi
5550 Press Dr New Orleans, LA	3.0	2.0	1640	$2,000	$1.22	15d	1	1.22mi
3540 Clermont Dr New Orleans, LA	3.0	2.0	1248	$1,975	$1.58	23d	1	1.25mi
6416 Baccich St New Orleans, LA	3.0	2.0	1908	$2,500	$1.31	43d	1	1.26mi
4727 Saint Bernard Ave New Orleans, LA	3.0	2.0	2000	$2,000	$1.00	15d	1	1.27mi
4111 Jumonville St New Orleans, LA	3.0	2.5	1543	$2,300	$1.49	10d	1	1.27mi
3327 Elysian Fields Ave New Orleans, LA	3.0	1.0	1200	$1,300	$1.08	23d	1	1.29mi
2647 Myrtle St Unit 2647 New Orleans, LA	4.0	2.0	1445	$2,550	$1.76	43d	1	1.33mi
4229 Buchanan St New Orleans, LA	3.0	2.0	1235	$2,250	$1.82	23d	1	1.34mi
2509 Sage St New Orleans, LA	3.0	1.0	1250	$1,650	$1.32	21d	1	1.36mi

Listing history 17 events

1. 2026-06-18
   days on market $220,000 Active 143 DOM
2. 2026-06-17
   days on market $220,000 Active 142 DOM
3. 2026-06-16
   days on market $220,000 Active 141 DOM
4. 2026-06-15
   days on market $220,000 Active 140 DOM
5. 2026-06-13
   days on market $220,000 Active 138 DOM
6. 2026-06-10
   days on market $220,000 Active 135 DOM
7. 2026-06-09
   days on market $220,000 Active 134 DOM
8. 2026-06-08
   days on market $220,000 Active 133 DOM
9. 2026-06-07
   days on market $220,000 Active 132 DOM
10. 2026-06-05
    days on market $220,000 Active 129 DOM
11. 2026-06-03
    days on market $220,000 Active 128 DOM
12. 2026-06-02
    days on market $220,000 Active 127 DOM
13. 2026-06-01
    days on market $220,000 Active 126 DOM
14. 2026-05-31
    days on market $220,000 Active 125 DOM
15. 2026-01-26
    listed $220,000 Active 1284-char remark

    Show marketing remark (1284 chars)

    Now Available--This well-appointed Gentilly double offers comfortable, practical living in a convenient location and presents a flexible opportunity for both owner-occupants and investors. Call it home while the other unit helps offset your mortgage—or add it to your real estate investment portfolio. The property features two separate units—upstairs and downstairs—each with 2 independent bedrooms and 1 full bath, allowing for versatile use. Both units include a refrigerator and range/oven, with washer and dryer included. The upstairs unit also includes a dishwasher. Durable wood-look ceramic tile flooring throughout allows for easy maintenance—no carpet. Additional features include: Central air and heat for year-round comfort, separate water meters for each unit, independent bedrooms for added privacy, spacious backyard suitable for outdoor use. It is conveniently located near Elysian Fields Avenue and Filmore Avenue, offering easy access to University of New Orleans, Dillard University, and major thoroughfares including I-610, I-10, Lakeshore Drive, and Gentilly Boulevard. Schedule your showing today to explore this versatile Gentilly opportunity. The property is currently fully tenant-occupied so please allow 48-hour notice for showings.

16. 1998-04-06
    soldstatus $53,500
17. 1997-09-22
    listed $55,000

ⓘ 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: $33,960
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$1,898
• − Repairs & maintenance: −$2,717
• − Management: −$2,717
• − Depreciation: −$6,400
• Taxable income: $4,605
• Est. tax owed @ 24.0%: −$1,105
• After-tax cash flow: $6,681/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

+300.0% since first listed

3 events — show timeline

• 2026-01-26 Listed $220,000 GSREIN
• 1998-04-06 Sold (MLS) $53,500 GSREIN
• 1997-09-22 Listed $55,000 GSREIN