1914 Elysian Fields Ave · New Orleans, LA 70117

$350,000

6 bd · 2.0 ba · 3,276 sqft · MultiFamily public records · 12 Days on market

Built 1914 3,937 sqft lot Est $301k · 16% over

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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 +21.7/30.0
• DSCR +6.9/10.0
• 1% rule +5.6/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.2/15.0
• 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

Historic Two-Story Camelback Double on Elysian Fields Avenue Your tenant's rent can cover approximately half your mortgage, making this an exceptional opportunity for both owner-occupants and investors. Beautifully restored, this property underwent a full renovation in 2014, including all new wiring, plumbing, HVAC systems, and appliances. The quality of the restoration earned recognition from the Louisiana Landmarks Society. Each unit features separate electric and water meters, plus its own private patio and storage shed, offering added convenience and rental appeal. A rare blend of historic charm, modern systems, and strong income potential -- long-term stability and value.

Key facts

• New plumbing
• New wiring
• New hvac systems

Tags

• FULL RENOVATION
• NEW WIRING
• NEW PLUMBING
• NEW HVAC SYSTEMS
• NEW APPLIANCES
• PRIVATE PATIO

Property features AI

Finance

• HOA & community: No association

Exterior

• Utilities: Public water; Public sewer
• Home design: Two-story building; Raised foundation; Shingle roof; HardiPlank exterior
• Construction: Remodeled/resale with structural changes; HardiPlank type siding; Shingle roof; Raised foundation
• Exterior features: Courtyard; Fenced yard; Front porch

Interior

• Bathrooms: Four full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Excellent condition; Remodeled with structural changes and updated major mechanical systems; Two-unit property

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Cap rate 8.1% 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.
• Market conditions: Rents rising (+2.5%/yr); 581 active listings in the ZIP; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,725/mo this rent would consume 98% 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 $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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 18 sale attempts since 30y 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 1914 — 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 $350,000

Questions for the listing agent

1. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.06% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.61%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $301,392
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1741 43 Marigny St	0.39mi	5/2.5 (-1)	2,950 (-10%)	1mo	$205,000	$69	57
2255 57 N Miro St	0.23mi	7/4.0 (+1)	3,220 (-2%)	20mo	$287,500	$89	57
2662 64 New Orleans St	0.75mi	6/2.0	3,408 (+4%)	6mo	$75,000	$22	54
2232 Annette St	0.41mi	6/2.0	2,886 (-12%)	9mo	$280,000	$97	53
2530 32 Franklin Ave	0.71mi	6/2.0	3,278 (+0%)	16mo	$175,000	$53	53
2259-2261 N Derbigny St	0.21mi	5/4.0 (-1)	3,696 (+13%)	15mo	$340,000	$92	43
1519-21 N Villere St	0.64mi	6/4.0	3,010 (-8%)	11mo	$496,000	$165	40
1241 Kerlerec St	0.73mi	6/6.0	3,507 (+7%)	12mo	$555,000	$158	28
1417 19 Kerlerec St	0.72mi	6/3.0	2,796 (-15%)	23mo	$479,000	$171	18

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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-28,362
• Equity at exit: $52,186

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $6,779
• 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 70117

• Rents YoY: 2.5%
• Active inventory: 581
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $3,725 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$421 /mo · $5,056/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$782
• Net cashflow: $474

Break-even live

Break-even rent $3,125

Max offer price $350,000

Occupancy floor 82%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$3,724
Total (2 units)			$3,725

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: —

Listing history 10 events

1. 2026-06-18
   days on market $350,000 Active 12 DOM
2. 2026-06-17
   days on market $350,000 Active 11 DOM
3. 2026-06-16
   days on market $350,000 Active 10 DOM
4. 2026-06-15
   days on market $350,000 Active 9 DOM
5. 2026-06-13
   days on market $350,000 Active 7 DOM
6. 2026-06-10
   days on market $350,000 Active 4 DOM
7. 2026-06-09
   days on market $350,000 Active 3 DOM
8. 2026-06-08
   days on market $350,000 Active 2 DOM
9. 2026-06-07
   remarks 686-char remark
10. 2026-06-07
    listed $350,000 Active 1 DOM

ⓘ 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: $5,056 · $421/mo
• Projected year-2 tax: $5,056 · $421/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: $44,700
• − Mortgage interest: −$19,605
• − Property taxes: −$5,056
• − Insurance: −$2,548
• − Repairs & maintenance: −$3,576
• − Management: −$3,576
• − Depreciation: −$10,182
• Taxable income: $157
• Est. tax owed @ 24.0%: −$38
• After-tax cash flow: $5,646/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

+775.0% since first listed

26 events — show timeline

• 2026-06-06 Listed $350,000 AcadianaMLS
• 2026-06-06 Listed $350,000 GSREIN
• 2022-12-05 Sold (Public Records) $365,000 Public Records
• 2022-07-15 Listed $395,000 AcadianaMLS
• 2013-07-15 Listed $295,000 GSREIN
• 2013-07-15 Listed $295,000 AcadianaMLS
• 2012-04-23 Listed $49,900 AcadianaMLS
• 2011-09-22 Listed $71,300 GSREIN
• 2011-09-22 Listed $71,300 AcadianaMLS
• 2011-04-14 Listed $64,900 GSREIN
• 2011-04-14 Listed $64,900 AcadianaMLS
• 2010-08-02 Listed $59,900 GSREIN
• 2010-08-02 Listed $59,900 AcadianaMLS
• 2007-08-01 Sold (Public Records) $192,000 Public Records
• 2006-08-24 Sold (Public Records) $90,000 Public Records
• 2006-08-23 Sold (MLS) $90,000 GSREIN
• 2006-06-21 Listed $90,000 AcadianaMLS
• 2006-06-21 Listed $90,000 GSREIN
• 1999-09-27 Sold (MLS) $30,333 GSREIN
• 1999-09-02 Sold (Public Records) $30,333 Public Records
• 1999-05-01 Listed $30,333 AcadianaMLS
• 1999-05-01 Listed $30,333 GSREIN
• 1996-10-15 Sold (Public Records) $40,000 Public Records
• 1996-10-15 Sold (MLS) $40,000 GSREIN
• 1996-07-10 Listed $40,000 GSREIN
• 1996-07-10 Listed $40,000 AcadianaMLS

Property tax history

+6.3%/yr

Latest (2026): $5,056 · +1.1% YoY. Source: county tax records.