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

$265,000

4 bd · 2.0 ba · 2,442 sqft · MultiFamily public records · 269 Days on market

Built 1950 3,924 sqft lot $109/sqft · 38% below area Est $396k · 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 +27.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +7.4/10.0
• 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

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.

Deal economics

• At list price, monthly cash flow is $742 ($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 10.0% 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 flat; 350 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,287/mo this rent would consume 75% 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 $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 269 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 269 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: 9.95%
• Cash-on-cash: 13.08%
• DSCR: 1.58
• GRM: 6.7

CMA / ARV

• ARV (median comp): $395,590
• List price: $265,000
• Delta: -33.01%
• 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%)	1mo	$410,000	$183	71
1500 N Dorgenois St	0.62mi	4/3.5	2,460 (+1%)	10mo	$355,000	$144	55
1315 17 Saint Philip St	0.38mi	4/4.0	2,290 (-6%)	14mo	$405,000	$177	52
1815 17 Laharpe St	0.50mi	4/2.0	2,226 (-9%)	12mo	$335,000	$150	52
1810 Allen St	0.75mi	4/4.0	2,390 (-2%)	4mo	$265,000	$111	51
1933 Bayou Rd	0.23mi	5/4.0 (+1)	2,800 (+15%)	3mo	$480,000	$171	49
1501-03 Governor Nicholls St	0.33mi	3/4.0 (-1)	2,680 (+10%)	10mo	$700,000	$261	47
209-11 N Johnson St	0.54mi	5/4.0 (+1)	2,345 (-4%)	14mo	$215,000	$92	43
1331 Columbus St	0.54mi	5/4.0 (+1)	2,323 (-5%)	14mo	$365,000	$157	42
1113 15 Dauphine St	0.68mi	5/4.0 (+1)	2,383 (-2%)	12mo	$610,000	$256	41
2328 30 Bienville St	0.58mi	5/3.5 (+1)	2,115 (-13%)	2mo	$400,000	$189	38
2734 36 Orchid St	0.66mi	5/2.0 (+1)	2,730 (+12%)	12mo	$655,000	$240	34

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: -1.7%
• Equity multiple: 0.94×
• Total profit: $-4,679
• Equity at exit: $39,512

10-year hold

• IRR: 4.6%
• Equity multiple: 1.29×
• Total profit: $21,873
• 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 →

ZIP-level market 70116

• Home prices YoY: -34.5%
• Rents YoY: 0.2%
• Active inventory: 350
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $3,287 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: −$690
• Net cashflow: $742

Break-even live

Break-even rent $2,348

Max offer price $265,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,286
Total (2 units)			$3,287

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
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1433 Esplanade Ave New Orleans, LA	3.0	2.0	2411	$5,000	$2.07	2d	1	0.34mi
1021 Henriette Delille St New Orleans, LA	3.0	2.0	2012	$2,250	$1.12	17d	1	0.45mi
324 N Roman St New Orleans, LA	3.0	3.0	2100	$2,500	$1.19	44d	1	0.47mi
2331 Columbus St New Orleans, LA	3.0	1.0	1976	$1,850	$0.94	24d	1	0.54mi
1000 Saint Philip St New Orleans, LA	3.0	2.5	2650	$4,800	$1.81	44d	1	0.60mi
811 Burgundy St New Orleans, LA	4.0	2.5	2059	$5,000	$2.43	44d	1	0.62mi
618 N Rampart St #204 New Orleans, LA	3.0	2.5	1904	$4,500	$2.36	44d	1	0.62mi
2731 Saint Philip St Unit 2733 New Orleans, LA	4.0	2.0	2000	$2,600	$1.30	24d	1	0.64mi
839 Dumaine St New Orleans, LA	3.0	4.0	2740	$6,500	$2.37	44d	1	0.69mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	3d	1	0.70mi
928 Kerlerec St New Orleans, LA	3.0	3.5	1684	$2,750	$1.63	3d	1	0.70mi
2664 Lepage St New Orleans, LA	3.0	2.0	1750	$2,725	$1.56	44d	1	0.76mi
1860 Burgundy St New Orleans, LA	4.0	4.0	3000	$3,500	$1.17	24d	1	0.76mi
2738 Bienville St New Orleans, LA	4.0	3.0	1671	$2,200	$1.32	24d	1	0.83mi
939 Iberville St New Orleans, LA	1.0–3.0	1.0	1502	$3,800	$2.53	12d	7	0.86mi
1011 Canal St Unit 1513926P New Orleans, LA	1.0–4.0	1.0–4.0	1016	$12,077	$11.88	2d	2	0.87mi
1011 Canal St Unit 1513939P New Orleans, LA	4.0	4.0	1765	$11,253	$6.38	24d	1	0.87mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	44d	1	0.88mi
751 Chartres St New Orleans, LA	2.0–3.0	2.0	1461	$3,450	$2.36	44d	1	0.89mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.89mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	24d	1	0.90mi
527 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1687	$3,500	$2.07	44d	1	0.93mi
515 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1644	$3,600	$2.19	44d	1	0.95mi
3024 Esplanade Ave New Orleans, LA	3.0	2.5	2300	$4,500	$1.96	44d	1	0.97mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	24d	1	0.99mi
535 Decatur St Unit 3 New Orleans, LA	3.0	2.0	1600	$2,800	$1.75	12d	1	1.00mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	24d	1	1.07mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	3d	2	1.09mi
2320 N Rampart St New Orleans, LA	3.0	3.0	2317	$3,700	$1.60	44d	1	1.09mi
3232 Grand Rte Saint John St New Orleans, LA	3.0	3.0	2800	$5,000	$1.79	24d	1	1.10mi
227 S Gayoso St Unit 2h New Orleans, LA	3.0	2.0	1800	$2,500	$1.39	44d	1	1.15mi
800 Gravier St Unit 1272312P New Orleans, LA	2.0–4.0	2.0–4.0	1673	$6,169	$3.69	14d	2	1.15mi
822 Perdido St Unit 1272370P New Orleans, LA	1.0–5.0	1.0–5.0	1447	$5,974	$4.13	3d	4	1.19mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	3d	1	1.21mi
419 Carondelet St Unit PHB New Orleans, LA	3.0	2.5	2546	$5,700	$2.24	3d	1	1.22mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	24d	1	1.25mi
518 S Rampart St New Orleans, LA	3.0	2.0	1853	$3,995	$2.16	3d	1	1.25mi
431 Gravier St Ste 4 New Orleans, LA	3.0	2.0	2100	$3,700	$1.76	44d	1	1.26mi
3700 Orleans Ave New Orleans, LA	1.0–3.0	1.0–2.0	1081	$2,945	$2.72	3d	48	1.37mi
1901 Gentilly Blvd New Orleans, LA	3.0	2.5	2205	$4,000	$1.81	44d	1	1.37mi

Listing history 18 events

1. 2026-06-18
   days on market $265,000 Active 269 DOM
2. 2026-06-17
   days on market $265,000 Active 268 DOM
3. 2026-06-16
   days on market $265,000 Active 267 DOM
4. 2026-06-15
   days on market $265,000 Active 266 DOM
5. 2026-06-13
   days on market $265,000 Active 264 DOM
6. 2026-06-10
   days on market $265,000 Active 261 DOM
7. 2026-06-09
   days on market $265,000 Active 260 DOM
8. 2026-06-08
   days on market $265,000 Active 259 DOM
9. 2026-06-07
   days on market $265,000 Active 258 DOM
10. 2026-06-05
    days on market $265,000 Active 255 DOM
11. 2026-06-03
    days on market $265,000 Active 254 DOM
12. 2026-06-02
    days on market $265,000 Active 253 DOM
13. 2026-06-01
    days on market $265,000 Active 252 DOM
14. 2026-05-31
    days on market $265,000 Active 251 DOM
15. 2026-03-13
    price $265,000 490-char remark

    Show marketing remark (497 chars)

    Excellent income-producing opportunity in the heart of Tremé! 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.

16. 2026-03-13
    price $265,000 497-char remark

    Show marketing remark (497 chars)

    Excellent income-producing opportunity in the heart of Tremé! 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.

17. 2025-09-18
    listed $285,000 Active 490-char remark

    Show marketing remark (497 chars)

    Excellent income-producing opportunity in the heart of Tremé! 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.

18. 2025-09-18
    listed $285,000 Active 497-char remark

    Show marketing remark (497 chars)

    Excellent income-producing opportunity in the heart of Tremé! 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.

ⓘ 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: $39,444
• − Mortgage interest: −$14,844
• − Property taxes: −$3,456
• − Insurance: −$2,122
• − Repairs & maintenance: −$3,156
• − Management: −$3,156
• − Depreciation: −$7,709
• Taxable income: $5,001
• Est. tax owed @ 24.0%: −$1,200
• After-tax cash flow: $7,706/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

-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.