2920 Gravier St · New Orleans, LA 70119

$280,000

4 bd · 2.0 ba · 1,563 sqft · MultiFamily public records · 143 Days on market

Built 1920 $179/sqft · 16% below area Est $349k · 20% under ↓ 5% since listing

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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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

REDUCED ! THIS SHOTGUN DOUBLE IS GREAT FOR INVESTORS AS WELL AS OWNER OCCUPANT. 2 BEDROOMS, 1 BATH ON EACH SIDE, CENTRAL AIR/HEAT. NEW WOOD LAMINATE FLOORING (2922 SIDE), FORMICA COUNTERTOPS, CEILING FANS, BRAND NEW VIKIO RANGE HOOD, INTERIOR WASHER/DRYER CONNECTIONS. SOLID HARDY PLANK EXTERIOR WALLS INSTALLED 2021. FRONT PORCH FOR RELAXING. CENTRALLY LOCATED WITHIN SHORT RIDES TO SUPERMARKETS, RESTAURANTS, THE CBD AND PARKS.

Key facts

• Central air heat
• Centrally located
• Formica countertops

Tags

• CENTRAL AIR HEAT
• NEW WOOD LAMINATE FLOORING
• FORMICA COUNTERTOPS
• BRAND NEW VIKIO RANGE HOOD
• CENTRALLY LOCATED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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.
• Market conditions: Rents soft (-0.2%/yr); 381 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 $3,152/mo this rent would consume 71% of the median local household income ($53k/yr) (locally 3381% 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 $8k 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 ($246k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1920 — 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 $246,400 (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. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.13% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.09%
• DSCR: 1.40
• GRM: 7.4

CMA / ARV

• ARV (median comp): $349,268
• List price: $280,000
• Delta: -19.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
500 02 S Gayoso St	0.16mi	4/2.0	1,551 (-1%)	18mo	$102,500	$66	76
745-47 S Genois St	0.46mi	4/2.0	1,610 (+3%)	3mo	$250,000	$155	72
3935 37 Banks St	0.74mi	4/2.0	1,620 (+4%)	2mo	$295,000	$182	57
3615 17 Baudin St	0.51mi	4/2.0	1,680 (+8%)	9mo	$140,000	$83	56
124 N Rendon St	0.56mi	3/3.0 (-1)	1,656 (+6%)	6mo	$308,000	$186	50
4112 14 Thalia St	0.65mi	4/2.0	1,700 (+9%)	8mo	$235,000	$138	48
422 24 S Clark St	0.42mi	3/3.0 (-1)	1,745 (+12%)	5mo	$340,000	$195	48
2511-13 13 Banks St	0.60mi	4/2.0	1,632 (+4%)	23mo	$215,000	$132	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: -16.2%
• Equity multiple: 0.44×
• Total profit: $-43,683
• Equity at exit: $41,749

10-year hold

• IRR: -16.0%
• Equity multiple: 0.25×
• Total profit: $-58,873
• Equity at exit: $24,209

Cash invested: $78,400 (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 70119

• Home prices YoY: -34.8%
• Rents YoY: -0.2%
• Active inventory: 381
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $3,152 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$311 /mo · $3,737/yr
• Insurance: −$117
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$662
• Net cashflow: $167

Break-even live

Break-even rent $2,941

Max offer price $280,000

Occupancy floor 90%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,152
Total (2 units)			$3,152

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
426 S Lopez St New Orleans, LA	4.0	3.0	1400	$2,300	$1.64	23d	1	0.23mi
2645 Gravier St Unit 2645-A New Orleans, LA	3.0	1.0	1290	$1,595	$1.24	23d	1	0.26mi
2651 Poydras St New Orleans, LA	1.0–4.0	1.0–2.0	1095	$2,545	$2.32	1d	16	0.28mi
2912 Palmyra St Unit D New Orleans, LA	3.0	2.0	1257	$1,650	$1.31	23d	1	0.31mi
2652 Banks St New Orleans, LA	3.0	3.5	1204	$2,100	$1.74	23d	1	0.33mi
227 S Gayoso St Unit 2h New Orleans, LA	3.0	2.0	1800	$2,500	$1.39	43d	1	0.35mi
2539 Gravier St Unit 2541 New Orleans, LA	3.0	1.0	1115	$1,495	$1.34	16d	1	0.35mi
325 S Rendon St New Orleans, LA	3.0	2.0	1130	$2,000	$1.77	23d	1	0.36mi
439 S Norman C. Francis Pkwy Unit 1A New Orleans, LA	3.0	1.0	1200	$1,700	$1.42	21d	1	0.37mi
2615 Banks St New Orleans, LA	3.0	2.0	1200	$1,900	$1.58	3d	1	0.39mi
326 S Dorgenois St Unit 326 New Orleans, LA	4.0	3.0	1510	$2,300	$1.52	2d	1	0.44mi
334 S Clark St New Orleans, LA	3.0	1.0	1065	$1,750	$1.64	21d	1	0.45mi
305 S Norman C Francis Pkwy New Orleans, LA	3.0	1.5	1730	$2,600	$1.50	17d	1	0.46mi
305 S Norman C Francis Pkwy New Orleans, LA	3.0	1.5	1730	$2,500	$1.45	14d	1	0.46mi
2517 Palmyra St New Orleans, LA	3.0	2.0	1306	$2,100	$1.61	17d	1	0.50mi
2304 Gravier St Unit 2304 New Orleans, LA	3.0	2.0	1112	$1,800	$1.62	16d	1	0.53mi
4702 Euphrosine St New Orleans, LA	3.0	1.0	1100	$1,850	$1.68	3d	1	0.55mi
4120 Erato St New Orleans, LA	3.0	2.0	2250	$1,750	$0.78	23d	1	0.59mi
1318 S Salcedo St Unit 202 New Orleans, LA	4.0	2.0	1152	$1,975	$1.71	23d	1	0.61mi
1318 S Salcedo St Unit 101 New Orleans, LA	4.0	2.0	1152	$1,775	$1.54	17d	1	0.61mi
3804 Banks St New Orleans, LA	3.0	2.0	1353	$2,250	$1.66	17d	1	0.62mi
2738 Bienville St New Orleans, LA	4.0	3.0	1671	$2,200	$1.32	23d	1	0.63mi
3825 Baudin St New Orleans, LA	3.0	3.5	1680	$2,000	$1.19	23d	1	0.64mi
3232 Conti St New Orleans, LA	3.0	2.0	1140	$3,500	$3.07	43d	1	0.71mi
615 S Pierce St New Orleans, LA	3.0	1.0	1200	$1,500	$1.25	17d	1	0.72mi
647 S Pierce St New Orleans, LA	3.0	2.0	1550	$3,175	$2.05	14d	1	0.72mi
613 S Pierce St New Orleans, LA	3.0	1.0	1200	$1,500	$1.25	17d	1	0.73mi
4020 Baudin St New Orleans, LA	3.0	2.0	1100	$1,550	$1.41	3d	1	0.76mi
439 N Norman C Francis Pkwy Unit 1A New Orleans, LA	3.0	1.0	1200	$1,700	$1.42	21d	1	0.78mi
4814 Thalia St Unit B New Orleans, LA	3.0	2.0	1218	$1,850	$1.52	23d	1	0.79mi
4816 Thalia St New Orleans, LA	3.0	2.0	1218	$1,850	$1.52	23d	1	0.79mi
1603 S Rendon St New Orleans, LA	3.0	2.0	1329	$1,900	$1.43	20d	1	0.80mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,500	$1.96	23d	1	0.83mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,300	$1.80	20d	1	0.83mi
2320 Conti St New Orleans, LA	3.0	2.0	1125	$2,500	$2.22	23d	1	0.85mi
4600 S Carrollton Ave Unit 2B New Orleans, LA	4.0	2.0	2097	$2,850	$1.36	23d	1	0.85mi
4401 Elba St New Orleans, LA	3.0	2.0	1400	$1,850	$1.32	23d	1	0.86mi
4403 Elba St New Orleans, LA	3.0	2.0	1400	$1,800	$1.29	3d	1	0.87mi
4400 Elba St New Orleans, LA	3.0	2.0	1600	$1,875	$1.17	23d	1	0.89mi
4520 Elba St New Orleans, LA	3.0	2.0	1100	$1,700	$1.55	23d	1	0.91mi

Listing history 18 events

1. 2026-06-18
   days on market $280,000 Active 143 DOM
2. 2026-06-17
   days on market $280,000 Active 142 DOM
3. 2026-06-16
   days on market $280,000 Active 141 DOM
4. 2026-06-15
   days on market $280,000 Active 140 DOM
5. 2026-06-13
   days on market $280,000 Active 138 DOM
6. 2026-06-10
   days on market $280,000 Active 135 DOM
7. 2026-06-09
   days on market $280,000 Active 134 DOM
8. 2026-06-08
   days on market $280,000 Active 133 DOM
9. 2026-06-07
   days on market $280,000 Active 132 DOM
10. 2026-06-05
    days on market $280,000 Active 129 DOM
11. 2026-06-03
    days on market $280,000 Active 128 DOM
12. 2026-06-02
    days on market $280,000 Active 127 DOM
13. 2026-06-01
    days on market $280,000 Active 126 DOM
14. 2026-05-31
    days on market $280,000 Active 125 DOM
15. 2026-03-13
    price $280,000 429-char remark

    Show marketing remark (429 chars)

    REDUCED ! THIS SHOTGUN DOUBLE IS GREAT FOR INVESTORS AS WELL AS OWNER OCCUPANT. 2 BEDROOMS, 1 BATH ON EACH SIDE, CENTRAL AIR/HEAT. NEW WOOD LAMINATE FLOORING (2922 SIDE), FORMICA COUNTERTOPS, CEILING FANS, BRAND NEW VIKIO RANGE HOOD, INTERIOR WASHER/DRYER CONNECTIONS. SOLID HARDY PLANK EXTERIOR WALLS INSTALLED 2021. FRONT PORCH FOR RELAXING. CENTRALLY LOCATED WITHIN SHORT RIDES TO SUPERMARKETS, RESTAURANTS, THE CBD AND PARKS.

16. 2026-03-12
    price $280,000 429-char remark

    Show marketing remark (429 chars)

    REDUCED ! THIS SHOTGUN DOUBLE IS GREAT FOR INVESTORS AS WELL AS OWNER OCCUPANT. 2 BEDROOMS, 1 BATH ON EACH SIDE, CENTRAL AIR/HEAT. NEW WOOD LAMINATE FLOORING (2922 SIDE), FORMICA COUNTERTOPS, CEILING FANS, BRAND NEW VIKIO RANGE HOOD, INTERIOR WASHER/DRYER CONNECTIONS. SOLID HARDY PLANK EXTERIOR WALLS INSTALLED 2021. FRONT PORCH FOR RELAXING. CENTRALLY LOCATED WITHIN SHORT RIDES TO SUPERMARKETS, RESTAURANTS, THE CBD AND PARKS.

17. 2026-01-26
    listed $295,000 Active 429-char remark

    Show marketing remark (429 chars)

    REDUCED ! THIS SHOTGUN DOUBLE IS GREAT FOR INVESTORS AS WELL AS OWNER OCCUPANT. 2 BEDROOMS, 1 BATH ON EACH SIDE, CENTRAL AIR/HEAT. NEW WOOD LAMINATE FLOORING (2922 SIDE), FORMICA COUNTERTOPS, CEILING FANS, BRAND NEW VIKIO RANGE HOOD, INTERIOR WASHER/DRYER CONNECTIONS. SOLID HARDY PLANK EXTERIOR WALLS INSTALLED 2021. FRONT PORCH FOR RELAXING. CENTRALLY LOCATED WITHIN SHORT RIDES TO SUPERMARKETS, RESTAURANTS, THE CBD AND PARKS.

18. 2026-01-26
    listed $295,000 Active 429-char remark

    Show marketing remark (429 chars)

    REDUCED ! THIS SHOTGUN DOUBLE IS GREAT FOR INVESTORS AS WELL AS OWNER OCCUPANT. 2 BEDROOMS, 1 BATH ON EACH SIDE, CENTRAL AIR/HEAT. NEW WOOD LAMINATE FLOORING (2922 SIDE), FORMICA COUNTERTOPS, CEILING FANS, BRAND NEW VIKIO RANGE HOOD, INTERIOR WASHER/DRYER CONNECTIONS. SOLID HARDY PLANK EXTERIOR WALLS INSTALLED 2021. FRONT PORCH FOR RELAXING. CENTRALLY LOCATED WITHIN SHORT RIDES TO SUPERMARKETS, RESTAURANTS, THE CBD AND PARKS.

ⓘ 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: $3,737 · $311/mo
• Projected year-2 tax: $3,737 · $311/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 · 77% 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: $37,824
• − Mortgage interest: −$15,684
• − Property taxes: −$3,737
• − Insurance: −$6,518
• − Repairs & maintenance: −$3,026
• − Management: −$3,026
• − Depreciation: −$8,145
• Taxable loss: −$2,314
• Est. tax savings @ 24.0%: +$555
• After-tax cash flow: $2,560/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): 37,253
• Household income: $53,143
• Rent vs Own: 62.8% rent · 37.2% own
• Severe rent burden: 3381.0

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 0.64)
• Race & ethnicity: Black 44% White 40% Two or more races 10% Hispanic / Latino 9% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% French/Haitian/Cajun 1% Other Indo-European 0%

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: ▼ -135.38%
• Current HPI: 253.1929
• Rent YoY: ▼ -0.20%
• 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

-5.1% since first listed

4 events — show timeline

• 2026-03-13 Price Changed $280,000 AcadianaMLS
• 2026-03-12 Price Changed $280,000 GSREIN
• 2026-01-26 Listed $295,000 GSREIN
• 2026-01-26 Listed $295,000 AcadianaMLS

Property tax history

+6.5%/yr

Latest (2026): $3,737 · +1.1% YoY. Source: county tax records.