920 22 Vallette St · New Orleans, LA 70124

$179,000

8 bd · 4.0 ba · 2,304 sqft · MultiFamily public records · 13 Days on market

Built 1950 Est $214k · 16% 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 +14.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 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: 4 units. confirmed

Listing remarks MLS

INVESTORS SPECIAL! Exceptional cash-flowing fourplex located in the highly desirable Algiers Point area. This property generates a robust total monthly rent of $4,417, offering an immediate and reliable stream of income for your portfolio.Situated in a preferred X flood zone, this property features a massive yard and historically high occupancy with long-term tenant stability. Each of the four units consists of a comfortable 1-bedroom, 1-bathroom layout, maximizing tenant appeal in a premier rental market. DO NOT DISTURB TENANTS

Key facts

• Total monthly rent
• Massive yard
• Built 1950

Tags

• CASH-FLOWING FOURPLEX
• TOTAL MONTHLY RENT
• MASSIVE YARD
• PREFERRED X FLOOD ZONE
• LONG-TERM TENANT STABILITY

Property features AI

Finance

• Financial info: Four-unit building

Exterior

• Utilities: Public water; Public sewer; Owner pays electricity and water
• Home design: Single-story property; Asphalt shingle roof
• Construction: Raised foundation; Built with average condition
• Exterior features: Front porch; Fence; Rectangular city lot (33x141)

Interior

• Bathrooms: Four full bathrooms
• Heating & cooling: Window unit cooling
• Interior features: Average condition; Raised foundation

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1.0-bath units multifamily listed at $179k.

Deal economics

• At list price, monthly cash flow is $3k ($37k/yr) — positive. Per door: $769/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $179k).
• Cap rate 27.4% 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 (-0.4%/yr); 220 active listings in the ZIP; high-income renter base; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $5,494/mo this rent would consume 54% of the median local household income ($121k/yr) (locally 332% 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 $5k 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 + 0.0% rent growth), your $50k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 14y 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 $150k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $179,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 3.07% ✓
• Cap rate: 27.35%
• Cash-on-cash: 75.21%
• DSCR: 4.35
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $214,272
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 Leboeuf St	0.53mi	7/3.0 (-1)	2,051 (-11%)	16mo	$190,000	$93	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 69.9%
• Equity multiple: 4.01×
• Total profit: $150,824
• Equity at exit: $26,689

10-year hold

• IRR: 73.1%
• Equity multiple: 7.42×
• Total profit: $321,683
• Equity at exit: $15,477

Cash invested: $50,120 (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 70124

• Rents YoY: -0.4%
• Active inventory: 220
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $5,494 high
• Mortgage (P&I): −$939
• Tax from tax record: −$186 /mo · $2,230/yr
• Insurance: −$75
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,154
• Net cashflow: $3,075

Break-even live

Break-even rent $1,602

Max offer price $179,000

Occupancy floor 39%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$5,496
Total (4 units)			$5,494

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $179,000 Active 13 DOM
2. 2026-06-17
   days on market $179,000 Active 12 DOM
3. 2026-06-16
   days on market $179,000 Active 11 DOM
4. 2026-06-15
   days on market $179,000 Active 10 DOM
5. 2026-06-13
   days on market $179,000 Active 8 DOM
6. 2026-06-10
   days on market $179,000 Active 5 DOM
7. 2026-06-09
   days on market $179,000 Active 4 DOM
8. 2026-06-08
   days on market $179,000 Active 3 DOM
9. 2026-06-07
   remarks 535-char remark
10. 2026-06-07
    listed $179,000 Active 2 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: $2,230 · $186/mo
• Projected year-2 tax: $2,230 · $186/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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,928
• − Mortgage interest: −$10,027
• − Property taxes: −$2,230
• − Insurance: −$1,692
• − Repairs & maintenance: −$5,274
• − Management: −$5,274
• − Depreciation: −$5,207
• Taxable income: $36,223
• Est. tax owed @ 24.0%: −$8,694
• After-tax cash flow: $28,203/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): 21,778
• Household income: $121,228
• Rent vs Own: 22.4% rent · 77.6% own
• Severe rent burden: 332.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 14% Two or more races 13% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 2% Cuban 4%
• Common ancestry: Lithuanian 18% Slovak 2% Italian 2%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -227.84%
• Current HPI: 181.5835
• Rent YoY: ▼ -0.37%
• 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

+348.6% since first listed

5 events — show timeline

• 2026-06-05 Listed $179,000 AcadianaMLS
• 2026-06-05 Listed $179,000 GSREIN
• 2018-07-17 Sold (Public Records) $150,000 Public Records
• 2018-06-05 Listed $144,300 AcadianaMLS
• 2012-05-02 Listed $39,900 AcadianaMLS

Property tax history

+0.4%/yr

Latest (2026): $2,230 · +0.0% YoY. Source: county tax records.