3525 27 S Liberty St · New Orleans, LA 70115

$575,000

8 bd · 8.0 ba · 3,927 sqft · MultiFamily · 130 Days on market

Built 2024 Excellent condition $146/sqft · 22% below area Est $740k · 22% under ↓ 36% since listing

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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 +23.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +6.1/10.0
• Condition / age +4.8/5.0
• Livability +4.0/5.0
• Rent growth +2.1/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Large duplex walking distance to the Freret Street corridor! The unique floorplan offers eight individual bedrooms, each with a private bathroom and access to the shared common living and kitchen spaces, backyard and dog washing station. Shared common areas include a gourmet chef's kitchen with two cooktops and two refrigerators, an expansive living room, and a laundry room with multiple washers and dryers. Don't miss this unique opportunity, just one block from Louisiana Avenue with easy access to all parts of New Orleans!

Key facts

• Laundry room
• Private bathroom
• Dog washing station

Tags

• PRIVATE BATHROOM
• GOURMET CHEF'S KITCHEN
• DOG WASHING STATION
• EXPANSIVE LIVING ROOM
• LAUNDRY ROOM
• MULTIPLE WASHERS AND DRYERS

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/4.0-bath units multifamily listed at $575k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $529/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $575k).
• Recommended offer: $506k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 soft (-1.4%/yr); 280 active listings in the ZIP; solid renter incomes; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $6,368/mo this rent would consume 85% of the median local household income ($90k/yr) (locally 1756% 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 $17k 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 130 days — a 12% lower offer ($506k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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 $95k; list at $575k implies a 505% gain — meaningful room to come down on a strong offer.

Recommended offer $506,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 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. 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: 1.11% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.88%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (median comp): $740,231
• List price: $575,000
• Delta: -22.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
523 Burgundy St	0.39mi	7/5.5 (-1)	4,188 (+7%)	8mo	$1,025,000	$245	49
1018 Bienville St	0.23mi	7/2.0 (-1)	4,405 (+12%)	15mo	$949,000	$215	37

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: -7.7%
• Equity multiple: 0.72×
• Total profit: $-44,418
• Equity at exit: $85,734

10-year hold

• IRR: -2.5%
• Equity multiple: 0.85×
• Total profit: $-23,722
• Equity at exit: $49,715

Cash invested: $161,000 (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 70115

• Rents YoY: -1.4%
• Active inventory: 280
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $6,368 high
• Mortgage (P&I): −$3,015
• Tax est. 1.5%: −$719 /mo · $8,625/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,337
• Net cashflow: $1,057

Break-even live

Break-even rent $5,030

Max offer price $575,000

Occupancy floor 78%

Sensitivity live

Price	-10% $1,454	-5% $1,256	+0% $1,057	+5% $858	+10% $660
Rent	-10% $554	-5% $805	+0% $1,057	+5% $1,309	+10% $1,560
Rate	-1.0pp $1,347	-0.5pp $1,203	base $1,057	+0.5pp $908	+1.0pp $756

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	4	$6,368
Total (2 units)			$6,368

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $575,000 Active 130 DOM
2. 2026-06-18
   days on market $575,000 Active 127 DOM
3. 2026-06-17
   days on market $575,000 Active 126 DOM
4. 2026-06-16
   days on market $575,000 Active 125 DOM
5. 2026-06-15
   days on market $575,000 Active 124 DOM
6. 2026-06-13
   days on market $575,000 Active 122 DOM
7. 2026-06-10
   days on market $575,000 Active 119 DOM
8. 2026-06-09
   days on market $575,000 Active 118 DOM
9. 2026-06-08
   days on market $575,000 Active 117 DOM
10. 2026-06-07
    days on market $575,000 Active 116 DOM
11. 2026-06-05
    days on market $575,000 Active 113 DOM
12. 2026-06-03
    days on market $575,000 Active 112 DOM
13. 2026-06-02
    days on market $575,000 Active 111 DOM
14. 2026-06-01
    days on market $575,000 Active 110 DOM
15. 2026-05-31
    days on market $575,000 Active 109 DOM
16. 2026-02-11
    listed $575,000 Active 529-char remark

    Show marketing remark (529 chars)

    Large duplex walking distance to the Freret Street corridor! The unique floorplan offers eight individual bedrooms, each with a private bathroom and access to the shared common living and kitchen spaces, backyard and dog washing station. Shared common areas include a gourmet chef's kitchen with two cooktops and two refrigerators, an expansive living room, and a laundry room with multiple washers and dryers. Don't miss this unique opportunity, just one block from Louisiana Avenue with easy access to all parts of New Orleans!

17. 2017-04-20
    soldstatus $95,000 Sold
18. 2017-02-16
    historical Pending Continue to Show
19. 2016-12-01
    listed $149,900 Active
20. 2016-08-05
    soldstatus $95,000 Sold
21. 2016-07-19
    historical Pending Continue to Show
22. 2016-07-11
    price $109,000
23. 2016-06-02
    listed $125,000 Active
24. 2014-12-05
    soldstatus $800,000
25. 2014-08-20
    listed $895,000

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

Taxation est. · year 1

• Rental income: $76,416
• − Mortgage interest: −$32,209
• − Property taxes: −$8,625
• − Insurance: −$2,875
• − Repairs & maintenance: −$6,113
• − Management: −$6,113
• − Depreciation: −$16,727
• Taxable income: $3,753
• Est. tax owed @ 24.0%: −$901
• After-tax cash flow: $11,784/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

Excellent 95/100 None rehab

This modern, well-maintained multi-family property is in excellent condition with no visible repairs needed. It offers a unique floorplan and is located in a prime location, making it an attractive investment opportunity.

Value-add opportunities

• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers or renters.
• Both Addition of smart home features — Smart home features can increase the property's appeal and value, especially for tech-savvy buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers or renters. ↑
• Both Addition of smart home features — Smart home features can increase the property's appeal and value, especially for tech-savvy buyers or renters. ↑

ⓘ 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): 31,183
• Household income: $90,182
• Rent vs Own: 45.7% rent · 54.3% own
• Severe rent burden: 1756.0

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 0.58)
• Race & ethnicity: White 59% Black 26% Two or more races 8% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 8% Italian 3% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 2% 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: ▼ -272.08%
• Current HPI: 287.2138
• Rent YoY: ▼ -1.42%
• 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

-35.8% since first listed

10 events — show timeline

• 2026-02-11 Listed $575,000 GSREIN
• 2017-04-20 Sold (MLS) $95,000 GSREIN
• 2017-02-16 Contingent — GSREIN
• 2016-12-01 Listed $149,900 GSREIN
• 2016-08-05 Sold (MLS) $95,000 GSREIN
• 2016-07-19 Contingent — GSREIN
• 2016-07-11 Price Changed $109,000 GSREIN
• 2016-06-02 Listed $125,000 GSREIN
• 2014-12-05 Sold (MLS) $800,000 GSREIN
• 2014-08-20 Listed $895,000 GSREIN