4001 Elba St · New Orleans, LA 70125

$239,000

4 bd · 3.0 ba · 4,074 sqft · MultiFamily public records · 159 Days on market

Built 1950 $59/sqft · 45% below area Est $411k · 42% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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: 3 units. confirmed

Listing remarks MLS

Rare opportunity to own a large TRIPLEX located in Broadmoor on a CORNER lot with PARKING! Charming FRONT PORCH has arches, wrought iron & original basket weave pattern tiles. 1st floor with 9-1/2 ft CEILINGS & 7 ft down. INCLUDES driveway, storage & garage with side & rear yards. SPACIOUS apartments with stoves, refrigerators and indoor washers & dryers for EACH apartment (Seller does not warranty any of the appliances/sold as is & will not repair nor replace.). UNIT C is rented thru March 1st with some repairs needed, the other 2 units are vacant & partially gutted. See attached HISTORIC TAX CREDIT Pre-approval letter for renovation option. Assumable flood insurance @ $1,843. UTILITIES: 3 independent electric meters, 1 water meter, 1 gas meter (gas billed to Apt B). Apt B & C share 1 HWH. Apt A: all electric with CENTRAL AC/heat. Apt B & C window units with gas: wall heaters, stoves & HWHs. All info to be verified. Ai VIRTUAL renovated & staged images are attached in photo gallery - photos are for examples only. Property sold AS IS.

Key facts

• Central ac
• Large triplex
• Front porch

Tags

• LARGE TRIPLEX
• CORNER LOT
• FRONT PORCH
• SPACIOUS APARTMENTS
• INDEPENDENT ELECTRIC METERS
• CENTRAL AC

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.3-bath units multifamily listed at $239k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $657/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $239k).
• Recommended offer: $210k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.3% 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 flat; 219 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).

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.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $67k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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 $50k; list at $239k implies a 378% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $210,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 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 1950 — 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: 2.14% ✓
• Cap rate: 18.33%
• Cash-on-cash: 43.01%
• DSCR: 2.91
• GRM: 3.9

CMA / ARV

• ARV (median comp): $411,092
• List price: $239,000
• Delta: -41.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3214 16 Washington St	0.56mi	4/3.0	4,488 (+10%)	3mo	$106,000	$24	55
4536 38 S Miro St	0.48mi	5/4.0 (+1)	3,746 (-8%)	4mo	$450,000	$120	52
3109 11 Jefferson Ave	0.72mi	4/2.0	3,561 (-13%)	5mo	$427,000	$120	37

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: 28.1%
• Equity multiple: 2.13×
• Total profit: $75,778
• Equity at exit: $35,636

10-year hold

• IRR: 34.1%
• Equity multiple: 3.75×
• Total profit: $184,321
• Equity at exit: $20,664

Cash invested: $66,920 (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: 219
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $5,105 high
• Mortgage (P&I): −$1,253
• Tax from tax record: −$282 /mo · $3,381/yr
• Insurance: −$100
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,072
• Net cashflow: $1,972

Break-even live

Break-even rent $2,609

Max offer price $239,000

Occupancy floor 56%

Sensitivity live

Price	-10% $2,107	-5% $2,039	+0% $1,972	+5% $1,904	+10% $1,836
Rent	-10% $1,568	-5% $1,770	+0% $1,972	+5% $2,173	+10% $2,375
Rate	-1.0pp $2,092	-0.5pp $2,033	base $1,972	+0.5pp $1,910	+1.0pp $1,847

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.3	$5,106
Total (3 units)			$5,105

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4442 S Johnson St Unit 4442 New Orleans, LA	4.0	4.5	3000	$4,500	$1.50	13d	1	0.54mi
5533 S Tonti St New Orleans, LA	4.0	4.0	3000	$3,000	$1.00	16d	1	0.58mi
4027 S Derbigny St New Orleans, LA	3.0	2.0	2950	$1,950	$0.66	25d	1	0.64mi
3112 Upperline St New Orleans, LA	5.0	3.5	2800	$3,650	$1.30	25d	1	0.69mi
2616 Calhoun St New Orleans, LA	4.0	2.5	2850	$2,500	$0.88	45d	1	1.04mi
2432 Calhoun St New Orleans, LA	4.0	2.0	3300	$4,400	$1.33	18d	1	1.14mi
5516 S Robertson St Unit A New Orleans, LA	3.0	2.5	3614	$2,800	$0.77	45d	1	1.20mi
1519 Pine St New Orleans, LA	5.0	3.0	3000	$4,000	$1.33	25d	1	1.22mi
2107 Calhoun St New Orleans, LA	3.0	2.0	3300	$2,790	$0.85	45d	1	1.34mi
1927 Napoleon Ave New Orleans, LA	5.0	2.0	3350	$3,600	$1.07	45d	1	1.44mi

Listing history 32 events

1. 2026-06-21
   days on market $239,000 Active 159 DOM
2. 2026-06-18
   days on market $239,000 Active 156 DOM
3. 2026-06-17
   days on market $239,000 Active 155 DOM
4. 2026-06-16
   days on market $239,000 Active 154 DOM
5. 2026-06-15
   days on market $239,000 Active 153 DOM
6. 2026-06-13
   days on market $239,000 Active 151 DOM
7. 2026-06-10
   days on market $239,000 Active 148 DOM
8. 2026-06-09
   days on market $239,000 Active 147 DOM
9. 2026-06-08
   days on market $239,000 Active 146 DOM
10. 2026-06-07
    days on market $239,000 Active 145 DOM
11. 2026-06-05
    days on market $239,000 Active 142 DOM
12. 2026-06-03
    days on market $239,000 Active 141 DOM
13. 2026-06-02
    days on market $239,000 Active 140 DOM
14. 2026-06-01
    days on market $239,000 Active 139 DOM
15. 2026-05-31
    days on market $239,000 Active 138 DOM
16. 2026-01-13
    listed $239,000 Active 1094-char remark

    Show marketing remark (1117 chars)

    Rare opportunity to own a large TRIPLEX located in Broadmoor on a CORNER lot with PARKING! Charming FRONT PORCH has arches, wrought iron & original basket weave pattern tiles. 1st floor with 9-1/2 ft CEILINGS & 7 ft down. INCLUDES driveway, storage & garage with side & rear yards. SPACIOUS apartments with stoves, refrigerators and indoor washers & dryers for EACH apartment (Seller does not warranty any of the appliances/sold as is & will not repair nor replace. ). UNIT C is rented thru March 1st with some repairs needed, the other 2 units are vacant & partially gutted. See attached HISTORIC TAX CREDIT Pre-approval letter for renovation option. Assumable flood insurance @ $1,843. UTILITIES: 3 independent electric meters, 1 water meter, 1 gas meter (gas billed to Apt B). Apt B & C share 1 HWH. Apt A: all electric with CENTRAL AC/heat. Apt B & C window units with gas: wall heaters, stoves & HWHs. All info to be verified. Ai VIRTUAL renovated & staged images are attached in photo gallery - photos are for examples only. Property sold AS IS.

17. 2026-01-13
    listed $239,000 Active 1117-char remark

    Show marketing remark (1117 chars)

    Rare opportunity to own a large TRIPLEX located in Broadmoor on a CORNER lot with PARKING! Charming FRONT PORCH has arches, wrought iron & original basket weave pattern tiles. 1st floor with 9-1/2 ft CEILINGS & 7 ft down. INCLUDES driveway, storage & garage with side & rear yards. SPACIOUS apartments with stoves, refrigerators and indoor washers & dryers for EACH apartment (Seller does not warranty any of the appliances/sold as is & will not repair nor replace. ). UNIT C is rented thru March 1st with some repairs needed, the other 2 units are vacant & partially gutted. See attached HISTORIC TAX CREDIT Pre-approval letter for renovation option. Assumable flood insurance @ $1,843. UTILITIES: 3 independent electric meters, 1 water meter, 1 gas meter (gas billed to Apt B). Apt B & C share 1 HWH. Apt A: all electric with CENTRAL AC/heat. Apt B & C window units with gas: wall heaters, stoves & HWHs. All info to be verified. Ai VIRTUAL renovated & staged images are attached in photo gallery - photos are for examples only. Property sold AS IS.

18. 2025-10-25
    price $249,000
19. 2025-10-25
    price $249,000
20. 2025-04-08
    price $269,000
21. 2025-04-08
    price $269,000
22. 2025-03-12
    price $289,000
23. 2025-03-12
    price $289,000
24. 2024-08-15
    price $299,000
25. 2024-05-22
    listed $299,000 Active
26. 2023-10-04
    price $344,900
27. 2023-05-17
    price $369,000
28. 2023-01-16
    listed $344,900
29. 2022-06-10
    price $449,000
30. 2022-05-05
    price $499,000
31. 2022-04-15
    listed $449,000
32. 1977-11-18
    soldstatus $50,000

ⓘ 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: $3,381 · $282/mo
• Projected year-2 tax: $3,381 · $282/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 AE · 78% 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: $61,260
• − Mortgage interest: −$13,388
• − Property taxes: −$3,381
• − Insurance: −$6,314
• − Repairs & maintenance: −$4,901
• − Management: −$4,901
• − Depreciation: −$6,953
• Taxable income: $21,423
• Est. tax owed @ 24.0%: −$5,142
• After-tax cash flow: $18,519/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

+378.0% since first listed

17 events — show timeline

• 2026-01-13 Listed $239,000 GSREIN
• 2026-01-13 Listed $239,000 AcadianaMLS
• 2025-10-25 Price Changed $249,000 AcadianaMLS
• 2025-10-25 Price Changed $249,000 GSREIN
• 2025-04-08 Price Changed $269,000 AcadianaMLS
• 2025-04-08 Price Changed $269,000 GSREIN
• 2025-03-12 Price Changed $289,000 AcadianaMLS
• 2025-03-12 Price Changed $289,000 GSREIN
• 2024-08-15 Price Changed $299,000 GSREIN
• 2024-05-22 Listed $299,000 AcadianaMLS
• 2023-10-04 Price Changed $344,900 GSREIN
• 2023-05-17 Price Changed $369,000 GSREIN
• 2023-01-16 Listed $344,900 AcadianaMLS
• 2022-06-10 Price Changed $449,000 GSREIN
• 2022-05-05 Price Changed $499,000 GSREIN
• 2022-04-15 Listed $449,000 AcadianaMLS
• 1977-11-18 Sold (Public Records) $50,000 Public Records

Property tax history

+7.1%/yr

Latest (2026): $3,381 · +3.4% YoY. Source: county tax records.