4909 11 Carondelet St · New Orleans, LA 70115

$795,000

8 bd · 4.0 ba · 5,824 sqft · MultiFamily public records · 320 Days on market

Built 1925 4,948 sqft lot $137/sqft · 21% below area Est $869k · 9% under

---

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 +27.5/30.0
• ARV discount +11.4/15.0
• DSCR +9.6/10.0
• 1% rule +7.4/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 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: 4 units. confirmed

Listing remarks MLS

Charming Historic Fourplex Near St. Charles Avenue Located just five short blocks from a major Mardi Gras parade route, this classic New Orleans fourplex offers an exceptional opportunity for investors or owner-occupants. Each of the four units features two bedrooms and one bathroom, showcasing original wood floors and a touch of timeless character that’s hard to find. Enjoy a spacious shared yard and ample storage underneath the building, plus peace of mind with recent upgrades including a brand-new roof (2025) and dry wood termite contract. Situated in an X flood zone for low-cost flood insurance, the property is walking distance to iconic St. Charles Avenue and the street car to the world-famous French Quarter! This property is a true gem for those seeking a mix of historic charm and smart investment potential in the heart of Uptown New Orleans.

Key facts

• Recent upgrades
• Historic fourplex
• Spacious shared yard

Tags

• HISTORIC FOURPLEX
• SPACIOUS SHARED YARD
• AMPLE STORAGE
• RECENT UPGRADES
• WALKING DISTANCE TO STREET CAR

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $795k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $572/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $795k).
• Recommended offer: $700k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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.
• Zoned schools: Benjamin Franklin Elem. Math And Science (math 12% / reading 23%, grade F, #479 of 646 statewide, top 75%, 747 students, 98% FRL, charter) — zoned schools average 98% FRL vs 68% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.4%/yr); 280 active listings in the ZIP; solid renter incomes; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $9,828/mo this rent would consume 131% of the median local household income ($90k/yr) (locally 1756% 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 $5k of loan paydown is wiped out by about $24k 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 320 days — a 12% lower offer ($700k) is reasonable based on typical stale-listing flexibility.
• 4 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 $216k; list at $795k implies a 268% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $699,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 320 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 1925 — 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: 1.24% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.69%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

• ARV (median comp): $869,489
• List price: $795,000
• Delta: -8.57%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4532-34 Chestnut St	0.42mi	9/4.0 (+1)	5,474 (-6%)	9mo	$967,500	$177	58
5342 Coliseum St	0.43mi	8/6.0	5,270 (-10%)	16mo	$1,150,000	$218	43
2315-17 Wirth Pl	0.75mi	8/4.0	5,320 (-9%)	18mo	$459,000	$86	35
915-17 Eleonore St	0.74mi	7/6.5 (-1)	5,682 (-2%)	14mo	$1,125,000	$198	35
5020-22 Laurel St	0.64mi	8/8.0	6,332 (+9%)	6mo	$633,600	$100	34
1931 35 Napoleon Ave	0.41mi	7/7.0 (-1)	5,090 (-13%)	13mo	$830,000	$163	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -1.5%
• Equity multiple: 0.95×
• Total profit: $-11,822
• Equity at exit: $118,537

10-year hold

• IRR: 4.7%
• Equity multiple: 1.30×
• Total profit: $66,525
• Equity at exit: $68,737

Cash invested: $222,600 (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 70115

• Rents YoY: -1.4%
• Active inventory: 280
• Price-to-rent: 27.0×

Monthly cashflow live

• Estimated rent: $9,828 high
• Mortgage (P&I): −$4,169
• Tax from tax record: −$910 /mo · $10,923/yr
• Insurance: −$331
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,064
• Net cashflow: $2,287

Break-even live

Break-even rent $6,933

Max offer price $795,000

Occupancy floor 72%

Sensitivity live

Price	-10% $2,737	-5% $2,512	+0% $2,287	+5% $2,062	+10% $1,837
Rent	-10% $1,511	-5% $1,899	+0% $2,287	+5% $2,675	+10% $3,064
Rate	-1.0pp $2,687	-0.5pp $2,489	base $2,287	+0.5pp $2,081	+1.0pp $1,872

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$9,828
Total (4 units)			$9,828

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: $198,750
• Closing costs: $23,850
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $795,000 Active 320 DOM
2. 2026-06-18
   days on market $795,000 Active 317 DOM
3. 2026-06-17
   days on market $795,000 Active 316 DOM
4. 2026-06-16
   days on market $795,000 Active 315 DOM
5. 2026-06-15
   days on market $795,000 Active 314 DOM
6. 2026-06-13
   days on market $795,000 Active 312 DOM
7. 2026-06-10
   days on market $795,000 Active 309 DOM
8. 2026-06-09
   days on market $795,000 Active 308 DOM
9. 2026-06-08
   days on market $795,000 Active 307 DOM
10. 2026-06-07
    days on market $795,000 Active 306 DOM
11. 2026-06-05
    days on market $795,000 Active 303 DOM
12. 2026-06-03
    days on market $795,000 Active 302 DOM
13. 2026-06-02
    days on market $795,000 Active 301 DOM
14. 2026-06-01
    days on market $795,000 Active 300 DOM
15. 2026-05-31
    days on market $795,000 Active 299 DOM
16. 2025-08-05
    listed $795,000 Active 866-char remark

    Show marketing remark (860 chars)

    Charming Historic Fourplex Near St. Charles Avenue Located just five short blocks from a major Mardi Gras parade route, this classic New Orleans fourplex offers an exceptional opportunity for investors or owner-occupants. Each of the four units features two bedrooms and one bathroom, showcasing original wood floors and a touch of timeless character that's hard to find. Enjoy a spacious shared yard and ample storage underneath the building, plus peace of mind with recent upgrades including a brand-new roof (2025) and dry wood termite contract. Situated in an X flood zone for low-cost flood insurance, the property is walking distance to iconic St. Charles Avenue and the street car to the world-famous French Quarter! This property is a true gem for those seeking a mix of historic charm and smart investment potential in the heart of Uptown New Orleans.

17. 2025-08-05
    listed $795,000 Active 860-char remark

    Show marketing remark (860 chars)

    Charming Historic Fourplex Near St. Charles Avenue Located just five short blocks from a major Mardi Gras parade route, this classic New Orleans fourplex offers an exceptional opportunity for investors or owner-occupants. Each of the four units features two bedrooms and one bathroom, showcasing original wood floors and a touch of timeless character that's hard to find. Enjoy a spacious shared yard and ample storage underneath the building, plus peace of mind with recent upgrades including a brand-new roof (2025) and dry wood termite contract. Situated in an X flood zone for low-cost flood insurance, the property is walking distance to iconic St. Charles Avenue and the street car to the world-famous French Quarter! This property is a true gem for those seeking a mix of historic charm and smart investment potential in the heart of Uptown New Orleans.

18. 1998-01-07
    soldstatus $216,000
19. 1998-01-07
    soldstatus $216,000
20. 1997-09-09
    listed $237,000
21. 1997-09-09
    listed $237,000
22. 1983-08-16
    soldstatus $122,500

ⓘ 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: $10,923 · $910/mo
• Projected year-2 tax: $10,923 · $910/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 7/10 Severe FEMA zone X · 59% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $117,936
• − Mortgage interest: −$44,532
• − Property taxes: −$10,923
• − Insurance: −$4,772
• − Repairs & maintenance: −$9,435
• − Management: −$9,435
• − Depreciation: −$23,127
• Taxable income: $15,711
• Est. tax owed @ 24.0%: −$3,771
• After-tax cash flow: $23,674/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): 31,183
• Household income: $90,182
• Rent vs Own: 45.7% rent · 54.3% own
• Severe rent burden: 1756.0

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 0.58)
• Race & ethnicity: White 59% Black 26% Two or more races 8% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 8% Italian 3% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 91% English-only · Spanish 4% 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: ▼ -272.08%
• Current HPI: 287.2138
• Rent YoY: ▼ -1.42%
• 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

+549.0% since first listed

7 events — show timeline

• 2025-08-05 Listed $795,000 AcadianaMLS
• 2025-08-05 Listed $795,000 GSREIN
• 1998-01-07 Sold (Public Records) $216,000 Public Records
• 1998-01-07 Sold (MLS) $216,000 GSREIN
• 1997-09-09 Listed $237,000 AcadianaMLS
• 1997-09-09 Listed $237,000 GSREIN
• 1983-08-16 Sold (Public Records) $122,500 Public Records

Property tax history

+2.5%/yr

Latest (2026): $10,923 · +1.3% YoY. Source: county tax records.