1910-12 Saint Philip St · New Orleans, LA 70116

$265,000

4 bd · 2.0 ba · 2,442 sqft · MultiFamily public records · 320 Days on market

Built 1950 Good condition 3,924 sqft lot $109/sqft · 38% below area Est $393k · 33% under ↓ 7% since listing

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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 +27.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +7.4/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0
• 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

Excellent income-producing opportunity in the heart of Treme! This classic shotgun double offers two spacious 3-bedroom units with hardwood floors throughout, washer/dryer hookups, and separate utility meters. One side is vacant and move-in ready, while the other provides rental income from day one. With a nice-sized backyard and easy access to the French Quarter, Lafitte Greenway, and Armstrong Park, this property is great for an owner-occupant or investor looking to maximize returns.

Key facts

• Nice sized backyard
• Washer dryer hookups
• Hardwood floors

Tags

• INCOME-PRODUCING OPPORTUNITY
• CLASSIC SHOTGUN DOUBLE
• HARDWOOD FLOORS
• WASHER DRYER HOOKUPS
• SEPARATE UTILITY METERS
• NICE SIZED BACKYARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $265k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $737 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $233k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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; 394 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 52d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% of comp listings sitting > 30 days — soft ceiling on asking rent; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,280/mo this rent would consume 75% of the median local household income ($52k/yr) — 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 320 days — a 12% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — 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 $233,200 (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. Built in 1950 — 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: 1.24% ✓
• Cap rate: 9.93%
• Cash-on-cash: 12.99%
• DSCR: 1.58
• GRM: 6.7

CMA / ARV

• ARV (median comp): $393,361
• List price: $265,000
• Delta: -32.63%
• 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
1722 24 St Ann St	0.18mi	4/3.5	2,240 (-8%)	2mo	$410,000	$183	70
1500 N Dorgenois St	0.62mi	4/3.5	2,460 (+1%)	12mo	$355,000	$144	54
1315 17 Saint Philip St	0.38mi	4/4.0	2,290 (-6%)	16mo	$405,000	$177	51
1815 17 Laharpe St	0.50mi	4/2.0	2,226 (-9%)	14mo	$335,000	$150	50
1810 Allen St	0.75mi	4/4.0	2,390 (-2%)	5mo	$265,000	$111	49
1933 Bayou Rd	0.23mi	5/4.0 (+1)	2,800 (+15%)	5mo	$480,000	$171	48
1501-03 Governor Nicholls St	0.33mi	3/4.0 (-1)	2,680 (+10%)	11mo	$700,000	$261	46
1331 Columbus St	0.54mi	5/4.0 (+1)	2,323 (-5%)	16mo	$365,000	$157	40
1113 15 Dauphine St	0.68mi	5/4.0 (+1)	2,383 (-2%)	14mo	$610,000	$256	40
2328 30 Bienville St	0.58mi	5/3.5 (+1)	2,115 (-13%)	4mo	$400,000	$189	37
926 28 Orleans Ave	0.67mi	4/4.0	2,777 (+14%)	2mo	$990,000	$356	37
2734 36 Orchid St	0.66mi	5/2.0 (+1)	2,730 (+12%)	14mo	$655,000	$240	33

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: -1.8%
• Equity multiple: 0.93×
• Total profit: $-5,012
• Equity at exit: $39,512

10-year hold

• IRR: 4.5%
• Equity multiple: 1.29×
• Total profit: $21,204
• Equity at exit: $22,912

Cash invested: $74,200 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 35 active · 14 under contract
• Months of supply: 12.4 mo (8%/mo absorbed)
• Median asking: $300,000 ($146/sqft)
• Median days on market: 115 d
• This list price: 34% of active listings are priced below it
• ARV vs active asking: +10.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70116

• Home prices YoY: -34.5%
• Rents YoY: 0.2%
• Active inventory: 394
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $3,280 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$288 /mo · $3,456/yr
• Insurance: −$110
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$689
• Net cashflow: $737

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,280
Total (2 units)			$3,280

Break-even live

Break-even rent $2,348

Max offer price $265,000

Occupancy floor 73%

Sensitivity live

Price	-10% $887	-5% $812	+0% $737	+5% $662	+10% $587
Rent	-10% $478	-5% $607	+0% $737	+5% $866	+10% $996
Rate	-1.0pp $870	-0.5pp $804	base $737	+0.5pp $668	+1.0pp $598

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: $66,250
• Closing costs: $7,950
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1922 Ursulines Ave Unit 1924 New Orleans, LA	2.0	1.5	1206	$1,625	$1.35	20d	1	0.04mi
922 N Roman St New Orleans, LA	2.0	1.0	825	$1,500	$1.82	16d	1	0.06mi
924 N Roman St New Orleans, LA	2.0	1.0	1000	$1,500	$1.50	27d	1	0.06mi
1035 N Derbigny St New Orleans, LA	3.0	1.0	1075	$1,399	$1.30	72d	1	0.08mi
1929 Dumaine St New Orleans, LA	3.0	1.0	1293	$1,650	$1.28	27d	1	0.09mi
909 N Derbigny St New Orleans, LA	2.0	2.0	950	$1,850	$1.95	72d	1	0.10mi
1128 N Roman St New Orleans, LA	2.0	2.0	600	$1,400	$2.33	72d	1	0.10mi
1128 N Roman St New Orleans, LA	1.0	1.0	600	$1,300	$2.17	16d	1	0.10mi
1131 N Roman St New Orleans, LA	3.0	2.0	1530	$3,000	$1.96	41d	1	0.11mi
2032 Saint Philip St New Orleans, LA	2.0	2.0	800	$1,600	$2.00	72d	1	0.11mi
1725 Dumaine St Unit 104 New Orleans, LA	2.0	1.0	500	$1,150	$2.30	72d	1	0.12mi
1725 Dumaine St Unit 101 New Orleans, LA	1.0	1.0	400	$950	$2.38	72d	1	0.12mi
2009 Governor Nicholls St New Orleans, LA	2.0	2.0	1113	$1,650	$1.48	20d	1	0.14mi
1831 Saint Ann St Unit A New Orleans, LA	3.0	2.0	900	$1,650	$1.83	46d	1	0.16mi
1831 Saint Ann St Unit A New Orleans, LA	3.0	2.0	900	$2,000	$2.22	52d	1	0.16mi
1831 Saint Ann St Unit A New Orleans, LA	3.0	2.0	900	$1,650	$1.83	72d	1	0.16mi
1717 Gov Nicholls St New Orleans, LA	2.0	2.0	935	$1,695	$1.81	59d	1	0.16mi
2017 Saint Ann St New Orleans, LA	2.0	1.0	960	$1,095	$1.14	66d	1	0.17mi
2129 Dumaine St New Orleans, LA	3.0	2.0	1226	$1,850	$1.51	52d	1	0.19mi
1818 Esplanade Ave Unit 1B New Orleans, LA	2.0	1.0	700	$2,200	$3.14	72d	1	0.22mi
1121 N Galvez St New Orleans, LA	2.0	1.0	1040	$1,400	$1.35	72d	1	0.22mi
1523 Saint Philip St Unit A New Orleans, LA	2.0	1.0	648	$1,250	$1.93	72d	1	0.24mi
2110 Bayou Rd Unit 5 New Orleans, LA	1.0	1.0	600	$1,250	$2.08	72d	1	0.24mi
2214 Dumaine St New Orleans, LA	2.0	1.0	1176	$1,600	$1.36	72d	1	0.24mi
1615 Governor Nicholls St Apt 103 New Orleans, LA	1.0	1.0	600	$1,050	$1.75	70d	1	0.25mi
1512 Saint Philip St Unit 1512-F New Orleans, LA	1.0	1.0	400	$1,099	$2.75	72d	1	0.25mi
1607 Saint Ann St Unit 2 New Orleans, LA	1.0	1.0	700	$1,275	$1.82	72d	1	0.25mi
2230 Dumaine St New Orleans, LA	2.0	2.0	983	$2,000	$2.03	72d	1	0.26mi
1108 N Miro St Unit 1110 New Orleans, LA	1.0	1.0	370	$950	$2.57	32d	1	0.26mi
1110 N Miro St New Orleans, LA	1.0	1.0	370	$950	$2.57	32d	1	0.26mi
1507 Dumaine St Unit A New Orleans, LA	1.0	1.0	625	$1,250	$2.00	20d	1	0.28mi
921 N Miro St New Orleans, LA	2.0	1.0	813	$1,350	$1.66	27d	1	0.28mi
921 N Miro St New Orleans, LA	2.0	1.0	813	$1,350	$1.66	16d	1	0.28mi
808 N Robertson St Unit B New Orleans, LA	1.0	1.0	650	$1,100	$1.69	41d	1	0.28mi
1424 N Johnson St New Orleans, LA	2.0	1.0	1100	$1,400	$1.27	72d	1	0.31mi
2328 Ursulines Ave Unit 2330 New Orleans, LA	2.0	1.5	1000	$1,300	$1.30	32d	1	0.31mi
1820 Kerlerec St New Orleans, LA	2.0	1.0	950	$1,600	$1.68	66d	1	0.31mi
1435 N Derbigny St New Orleans, LA	2.0	2.0	1040	$1,600	$1.54	72d	1	0.31mi
2332 Ursulines Ave Apt A New Orleans, LA	2.0	1.0	700	$1,200	$1.71	46d	1	0.32mi
2332 Ursulines Ave Unit B New Orleans, LA	2.0	1.0	700	$1,400	$2.00	72d	1	0.32mi

Listing history 50 events

1. 2026-08-08
   days on market $265,000 Active 320 DOM
2. 2026-08-07
   days on market $265,000 Active 319 DOM
3. 2026-08-06
   days on market $265,000 Active 318 DOM
4. 2026-08-05
   days on market $265,000 Active 317 DOM
5. 2026-08-04
   days on market $265,000 Active 316 DOM
6. 2026-08-03
   days on market $265,000 Active 315 DOM
7. 2026-07-31
   days on market $265,000 Active 312 DOM
8. 2026-07-30
   days on market $265,000 Active 310 DOM
9. 2026-07-28
   days on market $265,000 Active 309 DOM
10. 2026-07-24
    days on market $265,000 Active 305 DOM
11. 2026-07-23
    days on market $265,000 Active 304 DOM
12. 2026-07-22
    days on market $265,000 Active 303 DOM
13. 2026-07-21
    days on market $265,000 Active 302 DOM
14. 2026-07-20
    days on market $265,000 Active 301 DOM
15. 2026-07-18
    days on market $265,000 Active 299 DOM
16. 2026-07-18
    days on market $265,000 Active 298 DOM
17. 2026-07-16
    days on market $265,000 Active 297 DOM
18. 2026-07-15
    days on market $265,000 Active 296 DOM
19. 2026-07-14
    days on market $265,000 Active 295 DOM
20. 2026-07-13
    days on market $265,000 Active 294 DOM
21. 2026-07-13
    days on market $265,000 Active 293 DOM
22. 2026-07-11
    days on market $265,000 Active 292 DOM
23. 2026-07-10
    days on market $265,000 Active 291 DOM
24. 2026-07-09
    days on market $265,000 Active 290 DOM
25. 2026-07-07
    days on market $265,000 Active 288 DOM
26. 2026-07-06
    days on market $265,000 Active 287 DOM
27. 2026-07-06
    days on market $265,000 Active 286 DOM
28. 2026-07-03
    days on market $265,000 Active 284 DOM
29. 2026-07-02
    days on market $265,000 Active 283 DOM
30. 2026-07-01
    days on market $265,000 Active 282 DOM
31. 2026-06-30
    days on market $265,000 Active 281 DOM
32. 2026-06-29
    days on market $265,000 Active 280 DOM
33. 2026-06-28
    days on market $265,000 Active 279 DOM
34. 2026-06-27
    days on market $265,000 Active 278 DOM
35. 2026-06-27
    days on market $265,000 Active 277 DOM
36. 2026-06-25
    days on market $265,000 Active 275 DOM
37. 2026-06-21
    days on market $265,000 Active 272 DOM
38. 2026-06-18
    days on market $265,000 Active 269 DOM
39. 2026-06-17
    days on market $265,000 Active 268 DOM
40. 2026-06-16
    days on market $265,000 Active 267 DOM
41. 2026-06-15
    days on market $265,000 Active 266 DOM
42. 2026-06-13
    days on market $265,000 Active 264 DOM
43. 2026-06-10
    days on market $265,000 Active 261 DOM
44. 2026-06-09
    days on market $265,000 Active 260 DOM
45. 2026-06-08
    days on market $265,000 Active 259 DOM
46. 2026-06-07
    days on market $265,000 Active 258 DOM
47. 2026-06-05
    days on market $265,000 Active 255 DOM
48. 2026-06-03
    days on market $265,000 Active 254 DOM
49. 2026-06-02
    days on market $265,000 Active 253 DOM
50. 2026-06-01
    days on market $265,000 Active 252 DOM

ⓘ 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: $3,456 · $288/mo
• Projected year-2 tax: $3,456 · $288/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: $39,360
• − Mortgage interest: −$14,844
• − Property taxes: −$3,456
• − Insurance: −$2,122
• − Repairs & maintenance: −$3,149
• − Management: −$3,149
• − Depreciation: −$7,709
• Taxable income: $4,931
• Est. tax owed @ 24.0%: −$1,183
• After-tax cash flow: $7,656/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.

Condition & rehab AI · 10 photos

Good 75/100 Cosmetic rehab Est. rehab $12,210–$36,630 screening

The property is in good condition with minor repairs needed in the kitchen and bathrooms. Painting the exterior and interior walls can significantly increase its value for both resale and rental.

Repairs flagged

• Minor Kitchen backsplash — The backsplash appears to be in good condition with no major issues.
• Minor Bathroom fixtures — The fixtures appear to be in good condition with no major issues.

Value-add opportunities

• Both Paint the exterior and interior walls — Painting the exterior and interior walls can improve the curb appeal and interior aesthetics, which can increase the property's value for both resale and rental. ↑
• Both Replace the kitchen backsplash — Replacing the backsplash can improve the kitchen's appearance and functionality, which can increase the property's value for both resale and rental. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 22/100

Zoned Schools

Elementary Mary Bethune Elementary Literature/technology F LA #415/646 Nat'l #32,000/41,679 High Mcdonogh #35 College Preparatory School

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

A Composite livability gradescore 81/100

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 · 513,025 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: 9% of renters

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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%

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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%

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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

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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

-7.0% since first listed

4 events — show timeline

• 2026-03-13 Price Changed $265,000 AcadianaMLS
• 2026-03-13 Price Changed $265,000 GSREIN
• 2025-09-18 Listed $285,000 GSREIN
• 2025-09-18 Listed $285,000 AcadianaMLS

Property tax history

+12.8%/yr

Latest (2026): $3,456 · +1.1% YoY. Source: county tax records.