3525 27 S Liberty St · New Orleans, LA 70115

$575,000

8 bd · 8.0 ba · 3,927 sqft · MultiFamily · 179 Days on market

Built 2024 Excellent condition $146/sqft · 25% below area Est $768k · 25% 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 +20.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.5/10.0
• Condition / age +4.8/5.0
• Livability +4.0/5.0
• Schools +2.2/10.0
• Rent growth +2.1/5.0
• 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.
• This rent per unit runs 40% of the median local income ($90k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Deal economics

• At list price, monthly cash flow is $803 ($10k/yr) — positive. Per door: $402/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 8.0% 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.
• 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 soft (-1.4%/yr); 478 active listings in the ZIP; solid renter incomes; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).

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 179 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 179 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: 1.05% ✓
• Cap rate: 7.97%
• Cash-on-cash: 5.99%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

• ARV (median comp): $768,305
• List price: $575,000
• Delta: -25.16%
• 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
523 Burgundy St	0.39mi	7/5.5 (-1)	4,188 (+7%)	12mo	$1,025,000	$245	46
1311 13 Governor Nicholls St	0.81mi	8/4.0	3,956 (+1%)	3mo	$250,000	$63	45
1810 12 Governor Nicholls St	0.84mi	7/7.0 (-1)	3,689 (-6%)	5mo	$699,000	$189	42
2300 02 Ursulines Ave	0.96mi	8/4.0	3,780 (-4%)	3mo	$455,000	$120	40
1712-14 Ursulines Ave	0.76mi	8/4.0	3,936 (+0%)	15mo	$225,000	$57	36
1018 Bienville St	0.23mi	7/2.0 (-1)	4,405 (+12%)	19mo	$949,000	$215	33
930-32 Kerlerec St	0.99mi	7/7.0 (-1)	4,172 (+6%)	17mo	$502,000	$120	32
2534-36 Dumaine St	1.01mi	8/4.0	3,920 (-0%)	22mo	$229,000	$58	31
900 N Dorgenois St	1.04mi	8/5.0	3,457 (-12%)	11mo	$555,000	$161	24
600 04 Kerlerec St	1.06mi	8/4.0	4,509 (+15%)	5mo	$860,000	$191	20
1227 29 Carondelet St	1.05mi	8/4.0	3,252 (-17%)	14mo	$255,000	$78	13
2332 Ursulines Ave	1.00mi	8/5.0	3,200 (-18%)	21mo	$415,000	$130	11

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: -10.5%
• Equity multiple: 0.63×
• Total profit: $-59,634
• Equity at exit: $85,734

10-year hold

• IRR: -6.0%
• Equity multiple: 0.66×
• Total profit: $-54,152
• 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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 11 active · 3 under contract
• Months of supply: 22.0 mo (5%/mo absorbed)
• Median asking: $1,100,000 ($235/sqft)
• Median days on market: 16 d
• This list price: 9% of active listings are priced below it
• ARV vs active asking: -16.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 70115

• Rents YoY: -1.4%
• Active inventory: 478
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $6,047 high
• Mortgage (P&I): −$3,015
• Tax est. 1.5%: −$719 /mo · $8,625/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,270
• Net cashflow: $803

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

Units	Beds	Baths	Est. rent
▸ 2× units	4	4	$6,046
Total (2 units)			$6,047

Break-even live

Break-even rent $5,030

Max offer price $575,000

Occupancy floor 82%

Sensitivity live

Price	-10% $1,201	-5% $1,002	+0% $803	+5% $605	+10% $406
Rent	-10% $326	-5% $565	+0% $803	+5% $1,042	+10% $1,281
Rate	-1.0pp $1,093	-0.5pp $950	base $803	+0.5pp $654	+1.0pp $503

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1011 Canal St Unit 1513932P New Orleans, LA	1.0–4.0	1.0–4.0	1415	$19,844	$14.02	0d	4	0.22mi
1011 Canal St Unit 1513939P New Orleans, LA	4.0	4.0	1765	$11,253	$6.38	164d	1	0.22mi
810 Bienville St New Orleans, LA	1.0–3.0	1.0–2.0	998	$2,825	$2.83	2d	9	0.36mi
1937 Iberville St New Orleans, LA	3.0	2.0	—	$2,150	—	164d	1	0.40mi
324 N Roman St New Orleans, LA	3.0	3.0	2100	$2,500	$1.19	184d	1	0.40mi
1929 Iberville St New Orleans, LA	3.0	2.0	1450	$2,200	$1.52	133d	1	0.42mi
1933 Iberville St Unit 1935 New Orleans, LA	3.0	2.0	1450	$2,200	$1.52	133d	1	0.43mi
618 N Rampart St #201 New Orleans, LA	3.0	2.5	1904	$5,500	$2.89	123d	1	0.43mi
618 N Rampart St New Orleans, LA	3.0	2.5	1904	$4,750	$2.49	9d	1	0.43mi
618 N Rampart St #204 New Orleans, LA	3.0	2.5	1904	$4,750	$2.49	10d	1	0.43mi
618 N Rampart St #204 New Orleans, LA	3.0	2.5	1904	$4,500	$2.36	184d	1	0.43mi
1928 Conti St New Orleans, LA	3.0	2.0	1380	$2,400	$1.74	10d	1	0.46mi
822 Perdido St Unit 1272350P New Orleans, LA	4.0	1.0–4.0	1329	$10,236	$7.70	0d	5	0.47mi
800 Gravier St Unit 1272365P New Orleans, LA	1.0–4.0	1.0–4.0	1517	$14,920	$9.84	2d	4	0.47mi
1908 Saint Louis St New Orleans, LA	3.0	3.0	1234	$2,200	$1.78	107d	1	0.47mi
301 St Charles Ave New Orleans, LA	1.0–4.0	1.0–4.0	1544	$13,424	$8.69	0d	4	0.48mi
2022 Bienville St New Orleans, LA	3.0	2.0	1314	$2,250	$1.71	123d	1	0.49mi
518 S Rampart St New Orleans, LA	3.0	2.0	1853	$3,995	$2.16	144d	1	0.49mi
2024 Bienville St New Orleans, LA	3.0	2.0	1314	$1,950	$1.48	10d	1	0.49mi
419 Carondelet St Unit PHB New Orleans, LA	3.0	2.5	2546	$5,700	$2.24	144d	1	0.49mi
22 N Johnson St New Orleans, LA	3.0	2.0	1500	$1,575	$1.05	14d	1	0.49mi
22 N Johnson St New Orleans, LA	3.0	2.0	1500	$1,575	$1.05	23d	1	0.49mi
2033 Conti St New Orleans, LA	3.0	3.0	1249	$2,250	$1.80	155d	1	0.52mi
2118 Iberville St New Orleans, LA	4.0	2.0	2472	$2,600	$1.05	14d	1	0.53mi
2118 Iberville St New Orleans, LA	4.0	2.0	2472	$2,600	$1.05	10d	1	0.53mi
2105 Bienville St New Orleans, LA	3.0	3.0	1231	$2,200	$1.79	112d	1	0.54mi
811 Burgundy St New Orleans, LA	4.0	2.5	2059	$5,000	$2.43	184d	1	0.57mi
331 Decatur St Unit 3B New Orleans, LA	3.0	2.0	1300	$3,300	$2.54	10d	1	0.61mi
331 Decatur St Unit 3A New Orleans, LA	4.0	2.0	1300	$4,200	$3.23	10d	1	0.61mi
1831 Saint Ann St Unit A New Orleans, LA	3.0	2.0	900	$1,650	$1.83	10d	1	0.62mi
1831 Saint Ann St Unit A New Orleans, LA	3.0	2.0	900	$2,000	$2.22	143d	1	0.62mi
1831 Saint Ann St Unit A New Orleans, LA	3.0	2.0	900	$1,650	$1.83	164d	1	0.62mi
1000 Girod St Ph 2 New Orleans, LA	3.0	3.5	2008	$4,800	$2.39	184d	1	0.62mi
2232 Bienville St New Orleans, LA	3.0	2.0	1203	$1,895	$1.58	14d	1	0.63mi
2232 Bienville St New Orleans, LA	3.0	2.0	1203	$1,895	$1.58	10d	1	0.63mi
431 Gravier St Ste 4 New Orleans, LA	3.0	2.0	2100	$3,700	$1.76	112d	1	0.65mi
431 Gravier St Ste 4 New Orleans, LA	3.0	2.0	2100	$3,700	$1.76	184d	1	0.65mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,500	$1.96	164d	1	0.66mi
315 N Miro St New Orleans, LA	3.0	3.0	1276	$2,300	$1.80	161d	1	0.66mi
839 Dumaine St New Orleans, LA	3.0	4.0	2740	$6,500	$2.37	184d	1	0.66mi

Listing history 50 events

1. 2026-08-09
   days on market $575,000 Active 179 DOM
2. 2026-08-08
   days on market $575,000 Active 178 DOM
3. 2026-08-07
   days on market $575,000 Active 177 DOM
4. 2026-08-06
   days on market $575,000 Active 176 DOM
5. 2026-08-05
   days on market $575,000 Active 175 DOM
6. 2026-08-04
   days on market $575,000 Active 174 DOM
7. 2026-08-03
   days on market $575,000 Active 173 DOM
8. 2026-07-31
   days on market $575,000 Active 170 DOM
9. 2026-07-30
   days on market $575,000 Active 168 DOM
10. 2026-07-28
    days on market $575,000 Active 167 DOM
11. 2026-07-24
    days on market $575,000 Active 163 DOM
12. 2026-07-23
    days on market $575,000 Active 162 DOM
13. 2026-07-22
    days on market $575,000 Active 161 DOM
14. 2026-07-21
    days on market $575,000 Active 160 DOM
15. 2026-07-20
    days on market $575,000 Active 159 DOM
16. 2026-07-18
    days on market $575,000 Active 157 DOM
17. 2026-07-18
    days on market $575,000 Active 156 DOM
18. 2026-07-16
    days on market $575,000 Active 155 DOM
19. 2026-07-15
    days on market $575,000 Active 154 DOM
20. 2026-07-14
    days on market $575,000 Active 153 DOM
21. 2026-07-13
    days on market $575,000 Active 152 DOM
22. 2026-07-13
    days on market $575,000 Active 151 DOM
23. 2026-07-11
    days on market $575,000 Active 150 DOM
24. 2026-07-10
    days on market $575,000 Active 149 DOM
25. 2026-07-09
    days on market $575,000 Active 148 DOM
26. 2026-07-07
    days on market $575,000 Active 146 DOM
27. 2026-07-06
    days on market $575,000 Active 145 DOM
28. 2026-07-06
    days on market $575,000 Active 144 DOM
29. 2026-07-03
    days on market $575,000 Active 142 DOM
30. 2026-07-02
    days on market $575,000 Active 141 DOM
31. 2026-07-01
    days on market $575,000 Active 140 DOM
32. 2026-06-30
    days on market $575,000 Active 139 DOM
33. 2026-06-29
    days on market $575,000 Active 138 DOM
34. 2026-06-28
    days on market $575,000 Active 137 DOM
35. 2026-06-27
    days on market $575,000 Active 136 DOM
36. 2026-06-27
    days on market $575,000 Active 135 DOM
37. 2026-06-25
    days on market $575,000 Active 133 DOM
38. 2026-06-22
    days on market $575,000 Active 131 DOM
39. 2026-06-21
    days on market $575,000 Active 130 DOM
40. 2026-06-18
    days on market $575,000 Active 127 DOM
41. 2026-06-17
    days on market $575,000 Active 126 DOM
42. 2026-06-16
    days on market $575,000 Active 125 DOM
43. 2026-06-15
    days on market $575,000 Active 124 DOM
44. 2026-06-13
    days on market $575,000 Active 122 DOM
45. 2026-06-10
    days on market $575,000 Active 119 DOM
46. 2026-06-09
    days on market $575,000 Active 118 DOM
47. 2026-06-08
    days on market $575,000 Active 117 DOM
48. 2026-06-07
    days on market $575,000 Active 116 DOM
49. 2026-06-05
    days on market $575,000 Active 113 DOM
50. 2026-06-03
    days on market $575,000 Active 112 DOM

ⓘ 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: $72,564
• − Mortgage interest: −$32,209
• − Property taxes: −$8,625
• − Insurance: −$2,875
• − Repairs & maintenance: −$5,805
• − Management: −$5,805
• − Depreciation: −$16,727
• Taxable income: $518
• Est. tax owed @ 24.0%: −$124
• After-tax cash flow: $9,517/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. ↑

F Composite school gradezoned avg 22/100

Zoned Schools

Elementary Mary Bethune Elementary Literature/technology F LA #415/646 Nat'l #32,000/41,679

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

A Composite livability gradescore 81/100

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 · 513,025 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: 9% of renters

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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%

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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%
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 2% Other Indo-European 1%

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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

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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