4001 Panama Ct · New Orleans, LA 70125

$319,000

4 bd · 2.0 ba · 2,566 sqft · MultiFamily public records · 15 Days on market

Built 1934 $124/sqft · 15% below area Est $397k · 20% 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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.5/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• 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

This classic New Orleans-style duplex sits proudly on a desirable corner lot, offering timeless charm, versatile living, and strong income potential. 4 Bedrooms/ 3 Baths. Upstair unit freshly painted. Easily converted to a single property if wanted. Located in the same neighborhood as Notre Dame Seminary and Dominican High School- tucked amongst timeless homes and a true neighborhood. Property Highlights: Two spacious 2-bedroom units . Both units move in ready. Beautiful flooring & oversized upstairs kitchen recently updated Fully renovated primary bathroom Private in-unit laundry for each unit Off-street parking with two separate driveways Located in an X flood zone Whether you're an investor seeking steady returns or an owner-occupant looking to offset your mortgage, this property offers the flexibility to live in one unit and rent the other--or lease both for maximum income potential. Off street parking- 2 driveways- enough parking for 4 vehicles; inside laundry in each unit. Large Shed for storage. X flood zone; Seller is a licensed agent in LA

Key facts

• Two spacious units
• Off street parking
• Move in ready

Tags

• CORNER LOT
• TWO SPACIOUS UNITS
• MOVE IN READY
• OVERSIZED UPSTAIRS KITCHEN
• PRIVATE IN UNIT LAUNDRY
• OFF STREET PARKING

Property features AI

Finance

• Other: Tenant pays electricity, gas, and water

Exterior

• Parking: Driveway; Three or more parking spaces
• Utilities: Public water; Public sewer
• Home design: 2 stories; Multifamily property
• Construction: Stucco exterior; Asphalt shingle roof; Slab foundation; Unit #2 with new appliances and fresh paint
• Exterior features: Corner lot; City lot; Rectangular lot; Lot dimensions approximately 52.5 x 72.44

Interior

• Kitchen: Unit #2 has new kitchen
• Bedrooms: See individual unit details
• Bathrooms: 3 full bathrooms (total)
• Heating & cooling: Central heating; Dual heating system; Central air conditioning
• Interior features: Very good condition; Two total units (multifamily)
• Laundry & utility: In-unit laundry

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 1×2bd/2ba units multifamily listed at $319k.

Deal economics

• At list price, monthly cash flow is $705 ($8k/yr) — positive. Per door: $352/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $319k).
• Recommended offer: $314k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% 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 flat; 217 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,680/mo this rent would consume 72% of the median local household income ($61k/yr) (locally 1270% 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 $10k 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 15 days — a 2% lower offer ($314k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 17y 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 $260k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• 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 $314,215 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.15% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.36%
• DSCR: 1.46
• GRM: 7.2

CMA / ARV

• ARV (median comp): $397,244
• List price: $319,000
• Delta: -15.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4419 21 Fontainebleau Dr	0.31mi	4/2.0	2,399 (-6%)	8mo	$440,000	$183	68
3803 05 State Street Dr	0.29mi	5/3.0 (+1)	2,707 (+6%)	2mo	$295,000	$109	66
4311 13 Fontainebleau Dr	0.37mi	4/2.0	2,397 (-7%)	14mo	$335,000	$140	60
2304 06 Audubon St	0.41mi	4/4.0	2,612 (+2%)	19mo	$475,000	$182	54
7217 19 Pritchard Pl	0.20mi	5/3.5 (+1)	2,788 (+9%)	14mo	$390,000	$140	54
8009 13 Nelson St	0.56mi	4/2.0	2,274 (-11%)	3mo	$410,000	$180	52
4513-15 Thalia St	0.36mi	4/4.0	2,412 (-6%)	17mo	$230,000	$95	51
3901 03 General Taylor St	0.63mi	4/4.0	2,634 (+3%)	10mo	$360,000	$137	50
1505 07 S White St	0.58mi	5/2.0 (+1)	2,268 (-12%)	3mo	$144,900	$64	46
8015 17 Nelson St	0.56mi	4/3.0	2,816 (+10%)	11mo	$376,000	$134	44
3206 08 Cadiz St	0.73mi	4/2.0	2,418 (-6%)	16mo	$233,500	$97	43
4518-20 S Tonti St	0.62mi	4/—	2,904 (+13%)	21mo	$489,000	$168	32

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: -4.6%
• Equity multiple: 0.83×
• Total profit: $-14,974
• Equity at exit: $47,564

10-year hold

• IRR: 2.2%
• Equity multiple: 1.14×
• Total profit: $12,749
• Equity at exit: $27,581

Cash invested: $89,320 (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 70125

• Home prices YoY: -16.3%
• Rents YoY: 0.7%
• Active inventory: 217
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $3,680 high
• Mortgage (P&I): −$1,673
• Tax from tax record: −$330 /mo · $3,963/yr
• Insurance: −$133
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$773
• Net cashflow: $705

Break-even live

Break-even rent $2,788

Max offer price $319,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,840
1× unit	2	2	$1,840
Total (2 units)			$3,680

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3737 Nashville Ave New Orleans, LA	4.0	2.0	2000	$3,400	$1.70	21d	1	0.35mi
2338 Audubon St New Orleans, LA	3.0	2.0	1935	$2,000	$1.03	3d	1	0.37mi
2117 S Lopez St New Orleans, LA	5.0	2.0	1920	$2,000	$1.04	24d	1	0.38mi
7922 Colapissa St New Orleans, LA	4.0	2.0	1848	$2,400	$1.30	10d	1	0.42mi
2201 Broadway St Unit 2 New Orleans, LA	4.0	2.0	2000	$3,000	$1.50	44d	1	0.51mi
7325 Sycamore St New Orleans, LA	4.0	3.0	2500	$2,350	$0.94	24d	1	0.53mi
4120 Erato St New Orleans, LA	3.0	2.0	2250	$1,750	$0.78	24d	1	0.56mi
5533 S Tonti St New Orleans, LA	4.0	4.0	3000	$3,000	$1.00	15d	1	0.58mi
2201 Burdette St New Orleans, LA	3.0	1.5	1800	$2,695	$1.50	17d	1	0.59mi
7909 Sycamore St New Orleans, LA	3.0	2.0	2000	$2,400	$1.20	3d	1	0.64mi
7902 Sycamore St New Orleans, LA	4.0	2.0	1991	$3,200	$1.61	44d	1	0.66mi
6326 S Johnson St Unit 1 New Orleans, LA	5.0	2.0	2013	$3,950	$1.96	44d	1	0.75mi
2101 S Carrollton Ave New Orleans, LA	4.0	2.0	1800	$2,400	$1.33	24d	1	0.76mi
2102 S Carrollton Ave New Orleans, LA	3.0	2.0	1800	$2,250	$1.25	12d	1	0.79mi
2102 S Carrollton Ave Unit NA New Orleans, LA	3.0	2.0	1800	$2,250	$1.25	10d	1	0.79mi
2824 Calhoun St Unit A New Orleans, LA	3.0	2.0	1828	$3,900	$2.13	44d	1	0.82mi
3350 Jena St New Orleans, LA	3.0	2.5	2200	$2,500	$1.14	44d	1	0.83mi
2251 Cambronne St Unit A New Orleans, LA	3.0	1.5	1945	$2,495	$1.28	24d	1	0.83mi
2818 Palmer Ave New Orleans, LA	5.0	2.0	1832	$4,900	$2.67	44d	1	0.83mi
4442 S Johnson St Unit 4442 New Orleans, LA	4.0	4.5	3000	$4,500	$1.50	12d	1	0.84mi
2738 Calhoun St New Orleans, LA	4.0	2.0	1900	$4,800	$2.53	3d	1	0.87mi
1609 Broadway St New Orleans, LA	5.0	2.0	1776	$5,000	$2.82	44d	1	0.89mi
2715 Palmer Ave New Orleans, LA	5.0	2.0	2184	$4,900	$2.24	44d	1	0.91mi
3112 Upperline St New Orleans, LA	5.0	3.5	2800	$3,650	$1.30	24d	1	0.91mi
2703 Palmer Ave New Orleans, LA	5.0	2.0	2349	$5,500	$2.34	44d	1	0.92mi
1519 Pine St New Orleans, LA	5.0	3.0	3000	$4,000	$1.33	24d	1	0.94mi
7011 Jeannette St Unit A New Orleans, LA	5.0	3.0	2200	$5,000	$2.27	44d	1	0.95mi
2616 Calhoun St New Orleans, LA	4.0	2.5	2850	$2,500	$0.88	44d	1	0.95mi
7000 Jeannette St New Orleans, LA	3.0	3.0	2390	$3,250	$1.36	3d	1	0.98mi
7015 Willow St New Orleans, LA	5.0	3.0	2000	$4,200	$2.10	44d	1	1.02mi
5718 Cucullu St New Orleans, LA	4.0	3.0	1873	$2,500	$1.33	17d	1	1.04mi
2503 Calhoun St New Orleans, LA	3.0	2.0	1800	$3,000	$1.67	17d	1	1.04mi
2432 Calhoun St Unit A New Orleans, LA	3.0	2.0	1983	$4,400	$2.22	21d	1	1.07mi
2432 Calhoun St New Orleans, LA	4.0	2.0	3300	$4,400	$1.33	17d	1	1.07mi
4027 S Derbigny St New Orleans, LA	3.0	2.0	2950	$1,950	$0.66	24d	1	1.09mi
3200 Washington Ave Unit NA New Orleans, LA	4.0	3.0	2490	$3,400	$1.37	3d	1	1.12mi
3035 Delachaise St New Orleans, LA	3.0	1.0	1968	$1,750	$0.89	2d	1	1.13mi
3044 Louisiana Avenue Pkwy New Orleans, LA	3.0	2.0	1800	$1,900	$1.06	24d	1	1.13mi
1539 Dante St New Orleans, LA	3.0	2.0	2672	$3,500	$1.31	44d	1	1.13mi
2625 Jefferson Ave New Orleans, LA	4.0	2.0	2000	$2,600	$1.30	44d	1	1.15mi

Listing history 26 events

1. 2026-06-18
   days on market $319,000 Active 15 DOM
2. 2026-06-17
   days on market $319,000 Active 14 DOM
3. 2026-06-16
   days on market $319,000 Active 13 DOM
4. 2026-06-15
   days on market $319,000 Active 12 DOM
5. 2026-06-13
   days on market $319,000 Active 10 DOM
6. 2026-06-10
   days on market $319,000 Active 7 DOM
7. 2026-06-09
   days on market $319,000 Active 6 DOM
8. 2026-06-08
   days on market $319,000 Active 5 DOM
9. 2026-06-07
   days on market $319,000 Active 4 DOM
10. 2026-06-03
    remarks 695-char remark

    Show marketing remark (1068 chars)

    This classic New Orleans-style duplex sits proudly on a desirable corner lot, offering timeless charm, versatile living, and strong income potential. 4 Bedrooms/ 3 Baths. Upstair unit freshly painted. Easily converted to a single property if wanted. Located in the same neighborhood as Notre Dame Seminary and Dominican High School- tucked amongst timeless homes and a true neighborhood. Property Highlights: Two spacious 2-bedroom units . Both units move in ready. Beautiful flooring & oversized upstairs kitchen recently updated Fully renovated primary bathroom Private in-unit laundry for each unit Off-street parking with two separate driveways Located in an X flood zone Whether you're an investor seeking steady returns or an owner-occupant looking to offset your mortgage, this property offers the flexibility to live in one unit and rent the other--or lease both for maximum income potential. Off street parking- 2 driveways- enough parking for 4 vehicles; inside laundry in each unit. Large Shed for storage. X flood zone; Seller is a licensed agent in LA

11. 2026-06-03
    pricedays on marketlisting id $319,000 Active 1 DOM

    Show marketing remark (1068 chars)

    This classic New Orleans-style duplex sits proudly on a desirable corner lot, offering timeless charm, versatile living, and strong income potential. 4 Bedrooms/ 3 Baths. Upstair unit freshly painted. Easily converted to a single property if wanted. Located in the same neighborhood as Notre Dame Seminary and Dominican High School- tucked amongst timeless homes and a true neighborhood. Property Highlights: Two spacious 2-bedroom units . Both units move in ready. Beautiful flooring & oversized upstairs kitchen recently updated Fully renovated primary bathroom Private in-unit laundry for each unit Off-street parking with two separate driveways Located in an X flood zone Whether you're an investor seeking steady returns or an owner-occupant looking to offset your mortgage, this property offers the flexibility to live in one unit and rent the other--or lease both for maximum income potential. Off street parking- 2 driveways- enough parking for 4 vehicles; inside laundry in each unit. Large Shed for storage. X flood zone; Seller is a licensed agent in LA

12. 2026-06-02
    days on market $335,000 Active 56 DOM
13. 2026-06-01
    days on market $335,000 Active 55 DOM
14. 2026-05-31
    days on market $335,000 Active 54 DOM
15. 2026-05-12
    price $335,000 1009-char remark
16. 2026-05-12
    price $335,000 1015-char remark
17. 2026-04-07
    listed $355,000 Active 1009-char remark
18. 2026-04-07
    listed $355,000 Active 1015-char remark
19. 2026-03-14
    listed $380,000 Active
20. 2026-02-26
    listed $409,000 Active
21. 2026-01-23
    price $435,000
22. 2026-01-23
    price $435,000
23. 2026-01-09
    listed $455,000 Active
24. 2013-07-16
    soldstatus $260,000
25. 2009-12-22
    listed $299,900
26. 2009-12-22
    listed $299,900

ⓘ 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: $3,963 · $330/mo
• Projected year-2 tax: $3,963 · $330/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: $44,160
• − Mortgage interest: −$17,869
• − Property taxes: −$3,963
• − Insurance: −$2,392
• − Repairs & maintenance: −$3,533
• − Management: −$3,533
• − Depreciation: −$9,280
• Taxable income: $3,590
• Est. tax owed @ 24.0%: −$862
• After-tax cash flow: $7,595/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): 17,821
• Household income: $61,174
• Rent vs Own: 53.3% rent · 46.7% own
• Severe rent burden: 1270.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Black 51% White 32% Hispanic / Latino 9% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Romanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 1% Chinese 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: ▼ -49.68%
• Current HPI: 255.5998
• Rent YoY: ▲ 0.73%
• 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

+6.4% since first listed

13 events — show timeline

• 2026-06-03 Listed $319,000 GSREIN
• 2026-06-03 Listed $319,000 AcadianaMLS
• 2026-05-12 Price Changed $335,000 AcadianaMLS
• 2026-05-12 Price Changed $335,000 GSREIN
• 2026-04-07 Listed $355,000 AcadianaMLS
• 2026-03-14 Listed $380,000 AcadianaMLS
• 2026-02-26 Listed $409,000 AcadianaMLS
• 2026-01-23 Price Changed $435,000 AcadianaMLS
• 2026-01-23 Price Changed $435,000 GSREIN
• 2026-01-09 Listed $455,000 AcadianaMLS
• 2013-07-16 Sold (Public Records) $260,000 Public Records
• 2009-12-22 Listed $299,900 GSREIN
• 2009-12-22 Listed $299,900 AcadianaMLS

Property tax history

+3.1%/yr

Latest (2026): $3,963 · +1.1% YoY. Source: county tax records.