5728-30 Marigny St · New Orleans, LA 70122

$350,000

3 bd · 2.0 ba · 2,240 sqft · MultiFamily public records · 47 Days on market

Built 2008 $156/sqft · 30% above area Est $269k · 30% over

---

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 +19.4/30.0
• DSCR +6.1/10.0
• 1% rule +4.7/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Solid investment opportunity or starter home for a first time owner/occupant in a raised double with real upside for the buyer willing to add a little sweat equity. This property just keeps getting better as Seller is actively making improvements. Both units mirror each other with 3 beds, 2 baths, central air/heat, energy-efficient windows, and ceiling fans. Kitchens include range/oven, refrigerator, recessed lighting, and a pantry, plus a dedicated inside laundry room. The primary bedroom offers a walk-in closet with a linen closet in the bath. One unit (5730) is tenant-occupied through June 2026 -- instant income from day one. The raised ground level offers bonus space ideal for storage, a patio, or future improvements. Located in Flood Zone X500, off-street parking for multiple vehicles, and a welcoming front porch to round it out. Convenient to neighborhood groceries, top-rated schools, and just minutes from New Orleans City Park.Convenient to neighborhood groceries, top-rated schools, and just minutes from New Orleans City Park. This property rewards the investor. With upgrades already underway, now is the perfect time to get in at the right price!

Key facts

• Parking
• Listed 46 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/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 $340k (2.7% below list).
• Recommended offer: $340k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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 (-0.6%/yr); 336 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,404/mo this rent would consume 83% of the median local household income ($49k/yr) (locally 2150% 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 $2k of loan paydown is wiped out by about $10k 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 47 days — a 3% lower offer ($340k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.
• 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 $339,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.77%
• DSCR: 1.21
• GRM: 8.6

CMA / ARV

• ARV (median comp): $269,155
• List price: $350,000
• Delta: 30.04%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6025-27 Mandeville St	0.23mi	4/2.0 (+1)	2,052 (-8%)	3mo	$260,000	$127	68
5627 25 Spain St	0.19mi	4/4.0 (+1)	2,122 (-5%)	10mo	$275,000	$130	61
5523 25 Elysian Fields Ave	0.16mi	4/2.0 (+1)	1,908 (-15%)	10mo	$210,000	$110	54
6235-6237 Curie St	0.46mi	4/2.0 (+1)	2,000 (-11%)	2mo	$214,000	$107	54
4949 -51 Arts St	0.66mi	4/2.0 (+1)	2,000 (-11%)	13mo	$270,000	$135	36
5506 Warrington Dr	0.63mi	4/3.0 (+1)	2,569 (+15%)	21mo	$235,000	$91	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.53×
• Total profit: $-46,088
• Equity at exit: $52,186

10-year hold

• IRR: -10.0%
• Equity multiple: 0.47×
• Total profit: $-52,103
• Equity at exit: $30,262

Cash invested: $98,000 (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 70122

• Rents YoY: -0.6%
• Active inventory: 336
• Price-to-rent: 17.1×

Monthly cashflow live

• Estimated rent: $3,404 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$318 /mo · $3,819/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$715
• Net cashflow: $323

Break-even live

Break-even rent $2,995

Max offer price $350,000

Occupancy floor 86%

Sensitivity live

Price	-10% $521	-5% $422	+0% $323	+5% $224	+10% $125
Rent	-10% $54	-5% $189	+0% $323	+5% $458	+10% $592
Rate	-1.0pp $499	-0.5pp $412	base $323	+0.5pp $232	+1.0pp $140

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,404
Total (2 units)			$3,404

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6010 Pasteur Blvd New Orleans, LA	4.0	3.0	2010	$2,600	$1.29	18d	1	0.25mi
2458 Athis St New Orleans, LA	4.0	2.0	1530	$2,200	$1.44	24d	1	0.34mi
6079 Saint Anthony Ave New Orleans, LA	3.0	2.0	1400	$2,400	$1.71	17d	1	0.38mi
6217 Curie St New Orleans, LA	3.0	2.0	1700	$1,500	$0.88	24d	1	0.39mi
1940 Allen Toussaint Blvd New Orleans, LA	3.0	2.0	1500	$1,550	$1.03	12d	1	0.44mi
1940 Allen Toussaint Blvd Unit 1940 New Orleans, LA	3.0	2.0	1500	$1,600	$1.07	24d	1	0.44mi
6329 Spain St New Orleans, LA	3.0	2.0	1545	$2,100	$1.36	17d	1	0.45mi
1903 Rosary Dr New Orleans, LA	3.0	2.0	1500	$1,800	$1.20	24d	1	0.47mi
5716 Warrington Dr New Orleans, LA	4.0	3.0	1560	$2,000	$1.28	18d	1	0.59mi
5172 Venus St Unit 5172 New Orleans, LA	3.0	2.5	1864	$2,450	$1.31	24d	1	0.63mi
5900 Chatham Dr New Orleans, LA	3.0	2.0	1864	$2,500	$1.34	4d	1	0.81mi
6416 Baccich St New Orleans, LA	3.0	2.0	1908	$2,500	$1.31	44d	1	0.83mi
4815 Warrington Dr New Orleans, LA	3.0	2.0	1652	$2,150	$1.30	17d	1	0.91mi
4767 Lafaye St New Orleans, LA	3.0	2.0	1469	$2,000	$1.36	24d	1	0.95mi
5550 Press Dr New Orleans, LA	3.0	2.0	1640	$2,000	$1.22	17d	1	1.04mi
5024 Paris Ave New Orleans, LA	4.0	3.0	2116	$3,000	$1.42	17d	1	1.09mi
3570 Gentilly Blvd New Orleans, LA	3.0	2.0	2390	$2,900	$1.21	44d	1	1.14mi
5532 Saint Bernard Ave New Orleans, LA	4.0	4.0	2907	$5,000	$1.72	44d	1	1.36mi
3907 Elysian Fields Ave New Orleans, LA	3.0	2.0	1652	$3,000	$1.82	24d	1	1.37mi

Listing history 6 events

1. 2026-05-31
   days on market $350,000 Active 47 DOM
2. 2026-04-30
   price $350,000 1171-char remark

   Show marketing remark (1171 chars)

   Solid investment opportunity or starter home for a first time owner/occupant in a raised double with real upside for the buyer willing to add a little sweat equity. This property just keeps getting better as Seller is actively making improvements. Both units mirror each other with 3 beds, 2 baths, central air/heat, energy-efficient windows, and ceiling fans. Kitchens include range/oven, refrigerator, recessed lighting, and a pantry, plus a dedicated inside laundry room. The primary bedroom offers a walk-in closet with a linen closet in the bath. One unit (5730) is tenant-occupied through June 2026 -- instant income from day one. The raised ground level offers bonus space ideal for storage, a patio, or future improvements. Located in Flood Zone X500, off-street parking for multiple vehicles, and a welcoming front porch to round it out. Convenient to neighborhood groceries, top-rated schools, and just minutes from New Orleans City Park.Convenient to neighborhood groceries, top-rated schools, and just minutes from New Orleans City Park. This property rewards the investor. With upgrades already underway, now is the perfect time to get in at the right price!

3. 2026-04-14
   listed $360,000 Active 1171-char remark

   Show marketing remark (1171 chars)

   Solid investment opportunity or starter home for a first time owner/occupant in a raised double with real upside for the buyer willing to add a little sweat equity. This property just keeps getting better as Seller is actively making improvements. Both units mirror each other with 3 beds, 2 baths, central air/heat, energy-efficient windows, and ceiling fans. Kitchens include range/oven, refrigerator, recessed lighting, and a pantry, plus a dedicated inside laundry room. The primary bedroom offers a walk-in closet with a linen closet in the bath. One unit (5730) is tenant-occupied through June 2026 -- instant income from day one. The raised ground level offers bonus space ideal for storage, a patio, or future improvements. Located in Flood Zone X500, off-street parking for multiple vehicles, and a welcoming front porch to round it out. Convenient to neighborhood groceries, top-rated schools, and just minutes from New Orleans City Park.Convenient to neighborhood groceries, top-rated schools, and just minutes from New Orleans City Park. This property rewards the investor. With upgrades already underway, now is the perfect time to get in at the right price!

4. 2023-10-16
   soldstatus $310,000
5. 2023-08-11
   listed $325,000 783-char remark

   Show marketing remark (783 chars)

   Location, location, location! Great investment opportunity for rental income. Live on one side & rent the other; one unit already occupied until 5/2024. Both units feature 3 bedrooms & 2 baths, central Air/Heat, insulated windows & ceiling fans. 5730 unit A/C compressor just replaced 8/11/23. Both units have identical layouts. Kitchen has stove, refrigerator, can/recess lighting, pantry & inside laundry room. Walk-in closet in primary bedroom & linen closet in bath. This raised double/duplex has great potential on ground level, i.e. patio, storage, etc; house in Flood Zone X500. Off-street parking for multiple cars. Lovely balcony for relaxing, etc. Call me & schedule your appointment today. Please Do Not Disturb tenant in 5728. No Sign on Property.

6. 1986-08-07
   soldstatus $89,000

ⓘ 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: $3,819 · $318/mo
• Projected year-2 tax: $3,819 · $318/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) · 75% 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: $40,848
• − Mortgage interest: −$19,605
• − Property taxes: −$3,819
• − Insurance: −$2,548
• − Repairs & maintenance: −$3,268
• − Management: −$3,268
• − Depreciation: −$10,182
• Taxable loss: −$1,841
• Est. tax savings @ 24.0%: +$442
• After-tax cash flow: $4,320/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): 35,253
• Household income: $49,455
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 2150.0

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 Black (69%)
• Race & ethnicity: Black 69% White 18% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Lithuanian 4% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Chinese 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: ▼ -222.37%
• Current HPI: 231.9921
• Rent YoY: ▼ -0.61%
• 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

+293.3% since first listed

5 events — show timeline

• 2026-04-30 Price Changed $350,000 AcadianaMLS
• 2026-04-14 Listed $360,000 AcadianaMLS
• 2023-10-16 Sold (Public Records) $310,000 Public Records
• 2023-08-11 Listed $325,000 AcadianaMLS
• 1986-08-07 Sold (Public Records) $89,000 Public Records

Property tax history

+7.3%/yr

Latest (2026): $3,819 · +48.4% YoY. Source: county tax records.