1623 - 1625 Urquhart St · New Orleans, LA 70116

$199,000

4 bd · 2.0 ba · 1,867 sqft · MultiFamily public records · 451 Days on market

Built 1920 4,064 sqft lot $107/sqft · 19% below area Est $247k · 19% 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 +2.5/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Shotgun double next to another shotgun double (1627-1629 Urquhart) that is also for sale.

Key facts

• 4,064 sq ft lot
• Built 1920
• Listed 450 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $507/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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 flat; 351 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,154/mo this rent would consume 72% of the median local household income ($52k/yr) (locally 1001% 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 $1k of loan paydown is wiped out by about $6k 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 + 0.2% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 451 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1920 — 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 $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 451 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 1920 — 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: 1.58% ✓
• Cap rate: 12.81%
• Cash-on-cash: 23.27%
• DSCR: 2.04
• GRM: 5.3

CMA / ARV

• ARV (median comp): $247,110
• List price: $199,000
• Delta: -19.47%
• 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
1923-25 Pauger St	0.19mi	4/2.0	1,879 (+1%)	4mo	$70,000	$37	87
1614 16 Annette St	0.22mi	4/2.0	1,998 (+7%)	4mo	$120,000	$60	74
1552 54 N Derbigny St	0.27mi	4/3.0	1,681 (-10%)	5mo	$330,000	$196	63
1124-1126 Henriette Delille St	0.42mi	4/2.0	2,071 (+11%)	2mo	$157,000	$76	61
2117 19 Marais St	0.35mi	4/2.0	2,084 (+12%)	5mo	$295,000	$142	60
1727 29 Marigny St	0.57mi	4/2.0	1,716 (-8%)	1mo	$285,000	$166	59
832 36 Mandeville St	0.61mi	3/3.0 (-1)	1,851 (-1%)	4mo	$294,000	$159	58
2134 Annette St	0.60mi	4/4.0	1,816 (-3%)	3mo	$210,000	$116	57
1428-1430 Chartres St	0.58mi	4/3.0	2,011 (+8%)	2mo	$556,000	$276	55
2008 10 Frenchmen St	0.58mi	4/4.0	1,942 (+4%)	6mo	$380,000	$196	54
917 N Prieur St	0.69mi	4/2.0	1,700 (-9%)	4mo	$315,000	$185	50
1734 Spain St	0.67mi	5/3.0 (+1)	1,985 (+6%)	1mo	$100,000	$50	48

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 · 0.18% rent growth · sell at horizon

5-year hold

• IRR: 11.2%
• Equity multiple: 1.43×
• Total profit: $23,746
• Equity at exit: $29,672

10-year hold

• IRR: 17.7%
• Equity multiple: 2.27×
• Total profit: $70,534
• Equity at exit: $17,206

Cash invested: $55,720 (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 70116

• Home prices YoY: -34.5%
• Rents YoY: 0.2%
• Active inventory: 351
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $3,154 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$285 /mo · $3,416/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$662
• Net cashflow: $1,014

Break-even live

Break-even rent $1,870

Max offer price $199,000

Occupancy floor 63%

Sensitivity live

Price	-10% $1,127	-5% $1,070	+0% $1,014	+5% $958	+10% $901
Rent	-10% $765	-5% $889	+0% $1,014	+5% $1,139	+10% $1,263
Rate	-1.0pp $1,114	-0.5pp $1,065	base $1,014	+0.5pp $962	+1.0pp $910

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,154
Total (2 units)			$3,154

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1245 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	45d	1	0.16mi
1247 Kerlerec St New Orleans, LA	3.0	2.0	1500	$2,500	$1.67	45d	1	0.16mi
1217 Kerlerec St Unit B New Orleans, LA	3.0	1.0	1300	$2,100	$1.62	5d	1	0.17mi
1472 N Claiborne Ave New Orleans, LA	3.0	1.0	1312	$1,900	$1.45	17d	1	0.24mi
1433 Esplanade Ave New Orleans, LA	3.0	2.0	2411	$5,000	$2.07	3d	1	0.28mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	5d	1	0.31mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	4d	1	0.31mi
1021 Henriette Delille St New Orleans, LA	3.0	2.0	2012	$2,250	$1.12	19d	1	0.47mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	25d	1	0.48mi
1418 Royal St Unit 1418 New Orleans, LA	4.0	2.0	1300	$2,450	$1.88	25d	1	0.49mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	25d	1	0.49mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	25d	1	0.49mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	5d	2	0.51mi
2320 N Rampart St New Orleans, LA	3.0	3.0	2317	$3,700	$1.60	45d	1	0.52mi
2322 Burgundy St Unit C New Orleans, LA	3.0	2.0	1250	$2,200	$1.76	25d	1	0.55mi
734 Ursulines Ave New Orleans, LA	3.0	2.0	1340	$2,800	$2.09	45d	1	0.57mi
2220 N Prieur St New Orleans, LA	3.0	2.0	1334	$2,000	$1.50	25d	1	0.59mi
632 Mandeville St Unit 2B New Orleans, LA	4.0	4.5	1337	$4,500	$3.37	19d	1	0.65mi
811 Burgundy St New Orleans, LA	4.0	2.5	2059	$5,000	$2.43	45d	1	0.66mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	45d	1	0.68mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	25d	1	0.69mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	5d	1	0.70mi
1929 Dumaine St New Orleans, LA	3.0	1.0	1293	$1,500	$1.16	5d	1	0.70mi
2329 Laharpe St New Orleans, LA	3.0	1.0	1250	$1,000	$0.80	21d	1	0.75mi
2331 Columbus St New Orleans, LA	3.0	1.0	1976	$1,850	$0.94	25d	1	0.77mi
618 N Rampart St #204 New Orleans, LA	3.0	2.5	1904	$4,500	$2.36	45d	1	0.77mi
2129 Dumaine St New Orleans, LA	3.0	2.0	1226	$1,850	$1.51	5d	1	0.79mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	25d	1	0.80mi
751 Chartres St New Orleans, LA	2.0–3.0	2.0	1461	$3,450	$2.36	45d	1	0.81mi
527 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1687	$3,500	$2.07	45d	1	0.83mi
515 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1644	$3,600	$2.19	46d	1	0.84mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	25d	1	0.91mi
1908 Saint Louis St New Orleans, LA	3.0	3.0	1234	$2,300	$1.86	25d	1	0.96mi
535 Decatur St Unit 3 New Orleans, LA	3.0	2.0	1600	$2,800	$1.75	13d	1	0.98mi
324 N Roman St New Orleans, LA	3.0	3.0	2100	$2,500	$1.19	45d	1	1.01mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	25d	1	1.02mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	45d	1	1.02mi
2228 Arts St New Orleans, LA	3.0	2.0	2270	$1,675	$0.74	5d	1	1.02mi
2033 Conti St New Orleans, LA	3.0	3.0	1249	$2,250	$1.80	16d	1	1.03mi
810 Bienville St New Orleans, LA	1.0–3.0	1.0–2.0	995	$2,688	$2.70	5d	9	1.06mi

Listing history 21 events

1. 2026-06-21
   days on market $199,000 Active 451 DOM
2. 2026-06-18
   days on market $199,000 Active 448 DOM
3. 2026-06-17
   days on market $199,000 Active 447 DOM
4. 2026-06-16
   days on market $199,000 Active 446 DOM
5. 2026-06-15
   days on market $199,000 Active 445 DOM
6. 2026-06-13
   days on market $199,000 Active 443 DOM
7. 2026-06-10
   days on market $199,000 Active 440 DOM
8. 2026-06-09
   days on market $199,000 Active 439 DOM
9. 2026-06-08
   days on market $199,000 Active 438 DOM
10. 2026-06-07
    days on market $199,000 Active 437 DOM
11. 2026-06-05
    days on market $199,000 Active 434 DOM
12. 2026-06-03
    days on market $199,000 Active 433 DOM
13. 2026-06-02
    days on market $199,000 Active 432 DOM
14. 2026-06-01
    days on market $199,000 Active 431 DOM
15. 2026-05-31
    days on market $199,000 Active 430 DOM
16. 2025-09-12
    price $199,000 89-char remark

    Show marketing remark (89 chars)

    Shotgun double next to another shotgun double (1627-1629 Urquhart) that is also for sale.

17. 2025-09-12
    price $199,000 89-char remark

    Show marketing remark (89 chars)

    Shotgun double next to another shotgun double (1627-1629 Urquhart) that is also for sale.

18. 2025-04-04
    price $275,000 89-char remark

    Show marketing remark (89 chars)

    Shotgun double next to another shotgun double (1627-1629 Urquhart) that is also for sale.

19. 2025-04-03
    price $275,000 89-char remark

    Show marketing remark (89 chars)

    Shotgun double next to another shotgun double (1627-1629 Urquhart) that is also for sale.

20. 2025-03-24
    listed $199,000 Active 89-char remark

    Show marketing remark (89 chars)

    Shotgun double next to another shotgun double (1627-1629 Urquhart) that is also for sale.

21. 2025-03-24
    listed $199,000 Active 89-char remark

    Show marketing remark (89 chars)

    Shotgun double next to another shotgun double (1627-1629 Urquhart) that is also for sale.

ⓘ 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: $3,416 · $285/mo
• Projected year-2 tax: $3,416 · $285/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 · 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: $37,848
• − Mortgage interest: −$11,147
• − Property taxes: −$3,416
• − Insurance: −$1,792
• − Repairs & maintenance: −$3,028
• − Management: −$3,028
• − Depreciation: −$5,789
• Taxable income: $9,648
• Est. tax owed @ 24.0%: −$2,315
• After-tax cash flow: $9,853/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): 10,404
• Household income: $52,306
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 1001.0

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: White 45% Black 40% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Mexican 1% Cuban 3%
• Common ancestry: Lithuanian 6% Slovak 3% Romanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 2%

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: ▼ -144.83%
• Current HPI: 275.5453
• Rent YoY: ▲ 0.18%
• 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

+0.0% since first listed

6 events — show timeline

• 2025-09-12 Price Changed $199,000 AcadianaMLS
• 2025-09-12 Price Changed $199,000 GSREIN
• 2025-04-04 Price Changed $275,000 AcadianaMLS
• 2025-04-03 Price Changed $275,000 GSREIN
• 2025-03-24 Listed $199,000 GSREIN
• 2025-03-24 Listed $199,000 AcadianaMLS

Property tax history

+8.1%/yr

Latest (2026): $3,416 · +1.1% YoY. Source: county tax records.