5924 26 Saint Claude St · New Orleans, LA 70117

$539,000

8 bd · 4.8 ba · 4,186 sqft · MultiFamily · 133 Days on market

Built 1941 Good condition $129/sqft · 40% above area Est $384k · 40% over

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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
• DSCR +8.0/10.0
• 1% rule +6.4/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +3.1/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great investment property, four units in main building 2 bed 1 bath each. I unit above the garage 2 bed 1 bath. House is currently being operated as a legal Airbnb for 2 units. New Fortified Roof installed in 2025. Beautiful inside, A must see! Owner/Agent

Key facts

• Four units
• Investment property
• Fortified roof

Tags

• INVESTMENT PROPERTY
• FOUR UNITS
• LEGAL AIRBNB
• FORTIFIED ROOF

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $539k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $716 ($9k/yr) — positive. Per door: $179/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $539k).
• Recommended offer: $474k (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.
• 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 rising (+2.5%/yr); 587 active listings in the ZIP; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $6,161/mo this rent would consume 162% of the median local household income ($46k/yr) (locally 1988% 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 $4k of loan paydown is wiped out by about $16k 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 133 days — a 12% lower offer ($474k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1941 — 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $474,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 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 1941 — 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: 1.14% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.08%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (median comp): $384,253
• List price: $539,000
• Delta: 40.27%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6608-14 Dauphine St	0.50mi	8/4.0	3,957 (-6%)	15mo	$505,000	$128	52
539-41 Angela St	0.57mi	7/7.0 (-1)	4,808 (+15%)	11mo	$215,000	$45	25

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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.70×
• Total profit: $-44,546
• Equity at exit: $80,367

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $8,576
• Equity at exit: $46,603

Cash invested: $150,920 (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 70117

• Rents YoY: 2.5%
• Active inventory: 587
• Price-to-rent: 29.2×

Monthly cashflow live

• Estimated rent: $6,161 high
• Mortgage (P&I): −$2,827
• Tax est. 1.5%: −$674 /mo · $8,085/yr
• Insurance: −$225
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,294
• Net cashflow: $716

Break-even live

Break-even rent $5,255

Max offer price $539,000

Occupancy floor 83%

Sensitivity live

Price	-10% $1,088	-5% $902	+0% $716	+5% $529	+10% $343
Rent	-10% $229	-5% $472	+0% $716	+5% $959	+10% $1,202
Rate	-1.0pp $987	-0.5pp $853	base $716	+0.5pp $576	+1.0pp $434

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,160
Total (4 units)			$6,161

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: $134,750
• Closing costs: $16,170
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $539,000 Active 133 DOM
2. 2026-06-18
   days on market $539,000 Active 130 DOM
3. 2026-06-17
   days on market $539,000 Active 129 DOM
4. 2026-06-16
   days on market $539,000 Active 128 DOM
5. 2026-06-15
   days on market $539,000 Active 127 DOM
6. 2026-06-13
   days on market $539,000 Active 125 DOM
7. 2026-06-10
   days on market $539,000 Active 122 DOM
8. 2026-06-09
   days on market $539,000 Active 121 DOM
9. 2026-06-08
   days on market $539,000 Active 120 DOM
10. 2026-06-07
    days on market $539,000 Active 119 DOM
11. 2026-06-05
    days on market $539,000 Active 116 DOM
12. 2026-06-03
    days on market $539,000 Active 115 DOM
13. 2026-06-02
    days on market $539,000 Active 114 DOM
14. 2026-06-01
    days on market $539,000 Active 113 DOM
15. 2026-05-31
    days on market $539,000 Active 112 DOM
16. 2026-02-08
    listed $539,000 Active 256-char remark

    Show marketing remark (256 chars)

    Great investment property, four units in main building 2 bed 1 bath each. I unit above the garage 2 bed 1 bath. House is currently being operated as a legal Airbnb for 2 units. New Fortified Roof installed in 2025. Beautiful inside, A must see! Owner/Agent

17. 2023-04-02
    listed $600,000
18. 2017-10-22
    listed $129,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 60% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $73,932
• − Mortgage interest: −$30,192
• − Property taxes: −$8,085
• − Insurance: −$7,814
• − Repairs & maintenance: −$5,915
• − Management: −$5,915
• − Depreciation: −$15,680
• Taxable income: $332
• Est. tax owed @ 24.0%: −$80
• After-tax cash flow: $8,509/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 · 13 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with a new roof and modern interiors. Painting the exterior would significantly enhance its curb appeal and value.

Value-add opportunities

• Both Painting the exterior — Painting the exterior can enhance curb appeal and increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Painting the exterior can enhance curb appeal and increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 25,652
• Household income: $45,764
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 1988.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 30% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 5% Italian 1% Romanian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -177.22%
• Current HPI: 184.6061
• Rent YoY: ▲ 2.49%
• 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

+314.9% since first listed

3 events — show timeline

• 2026-02-08 Listed $539,000 GSREIN
• 2023-04-02 Listed $600,000 AcadianaMLS
• 2017-10-22 Listed $129,900 AcadianaMLS