2254-56 N Derbigny St · New Orleans, LA 70117

$479,000

6 bd · 2.0 ba · 3,096 sqft · MultiFamily public records · 122 Days on market

Built 1930 5,280 sqft lot $155/sqft · 79% above area

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Why this score? — see what drove the D+ 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 +20.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• 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

Newly Renovated 3 plex in New Orleans, Great Investment Property. Wood Flooring throughout house, ceramic tile flooring in bathrooms and tile tub enclosures. New fixtures throughout house. Ceiling fans. Very nice a must see! Owner/Agent

Key facts

• Wood flooring
• Tile tub enclosures
• Ceiling fans

Tags

• WOOD FLOORING
• CERAMIC TILE FLOORING
• TILE TUB ENCLOSURES
• NEW FIXTURES
• CEILING FANS

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $479k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $446k (6.9% below list).
• Recommended offer: $422k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 4.3% 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 rising (+2.5%/yr); 587 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $4,461/mo this rent would consume 117% 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 $3k of loan paydown is wiped out by about $14k 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 122 days — a 12% lower offer ($422k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y 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 $66/mo; built in 1930 — 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 $421,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 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 1930 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.93% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.30%
• DSCR: 1.24
• GRM: 8.9

CMA / ARV

• ARV (median comp): $267,911
• List price: $479,000
• Delta: 78.79%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1741 43 Marigny St	0.19mi	5/2.5 (-1)	2,950 (-5%)	1mo	$205,000	$69	75
1612 14 Saint Roch Ave	0.15mi	6/4.0	2,660 (-14%)	6mo	$500,000	$188	56
2232 Annette St	0.63mi	6/2.0	2,886 (-7%)	9mo	$280,000	$97	52
1519-21 N Villere St	0.65mi	6/4.0	3,010 (-3%)	11mo	$496,000	$165	48
2255 57 N Miro St	0.38mi	7/4.0 (+1)	3,220 (+4%)	20mo	$287,500	$89	46
2535-37 N Rampart St	0.51mi	5/2.0 (-1)	2,700 (-13%)	7mo	$350,000	$130	44
1501-03 Marais St	0.65mi	6/4.0	2,680 (-13%)	6mo	$690,000	$257	34
1417 19 Kerlerec St	0.74mi	6/3.0	2,796 (-10%)	23mo	$479,000	$171	26
2231 Royal St	0.66mi	6/6.0	3,400 (+10%)	16mo	$725,000	$213	23
2237 Royal St	0.66mi	5/5.0 (-1)	3,400 (+10%)	16mo	$700,000	$206	22
1241 Kerlerec St	0.69mi	6/6.0	3,507 (+13%)	12mo	$555,000	$158	20

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: -9.5%
• Equity multiple: 0.65×
• Total profit: $-46,521
• Equity at exit: $71,420

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-7,129
• Equity at exit: $41,415

Cash invested: $134,120 (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 70117

• Rents YoY: 2.5%
• Active inventory: 587
• Price-to-rent: 26.8×

Monthly cashflow live

• Estimated rent: $4,461 high
• Mortgage (P&I): −$2,512
• Tax from tax record: −$220 /mo · $2,643/yr
• Insurance: −$200
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$937
• Net cashflow: $526

Break-even live

Break-even rent $3,795

Max offer price $479,000

Occupancy floor 83%

Sensitivity live

Price	-10% $797	-5% $662	+0% $526	+5% $390	+10% $255
Rent	-10% $174	-5% $350	+0% $526	+5% $702	+10% $878
Rate	-1.0pp $767	-0.5pp $648	base $526	+0.5pp $402	+1.0pp $276

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,461
Total (3 units)			$4,461

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: $119,750
• Closing costs: $14,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$8,133	$5.14	4d	2	0.43mi

Listing history 20 events

1. 2026-06-21
   days on market $479,000 Active 122 DOM
2. 2026-06-18
   days on market $479,000 Active 119 DOM
3. 2026-06-17
   days on market $479,000 Active 118 DOM
4. 2026-06-16
   days on market $479,000 Active 117 DOM
5. 2026-06-15
   days on market $479,000 Active 116 DOM
6. 2026-06-13
   days on market $479,000 Active 114 DOM
7. 2026-06-10
   days on market $479,000 Active 111 DOM
8. 2026-06-09
   days on market $479,000 Active 110 DOM
9. 2026-06-08
   days on market $479,000 Active 109 DOM
10. 2026-06-07
    days on market $479,000 Active 108 DOM
11. 2026-06-05
    days on market $479,000 Active 105 DOM
12. 2026-06-03
    days on market $479,000 Active 104 DOM
13. 2026-06-02
    days on market $479,000 Active 103 DOM
14. 2026-06-01
    days on market $479,000 Active 102 DOM
15. 2026-05-31
    days on market $479,000 Active 101 DOM
16. 2026-02-19
    listed $479,000 Active 236-char remark

    Show marketing remark (236 chars)

    Newly Renovated 3 plex in New Orleans, Great Investment Property. Wood Flooring throughout house, ceramic tile flooring in bathrooms and tile tub enclosures. New fixtures throughout house. Ceiling fans. Very nice a must see! Owner/Agent

17. 2015-11-20
    soldstatus $419,000
18. 2005-01-12
    listed $125,000
19. 2001-01-29
    soldstatus $95,000
20. 1999-11-11
    listed $34,300

ⓘ 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: $2,643 · $220/mo
• Projected year-2 tax: $2,643 · $220/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 · 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: $53,532
• − Mortgage interest: −$26,831
• − Property taxes: −$2,643
• − Insurance: −$3,192
• − Repairs & maintenance: −$4,283
• − Management: −$4,283
• − Depreciation: −$13,935
• Taxable loss: −$1,635
• Est. tax savings @ 24.0%: +$392
• After-tax cash flow: $6,704/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): 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

+1296.5% since first listed

5 events — show timeline

• 2026-02-19 Listed $479,000 AcadianaMLS
• 2015-11-20 Sold (Public Records) $419,000 Public Records
• 2005-01-12 Listed $125,000 AcadianaMLS
• 2001-01-29 Sold (Public Records) $95,000 Public Records
• 1999-11-11 Listed $34,300 AcadianaMLS

Property tax history

+7.0%/yr

Latest (2026): $2,643 · +1.1% YoY. Source: county tax records.