1426 Carondelet St · New Orleans, LA 70130

$788,000

8 bd · 4.0 ba · 2,997 sqft · MultiFamily public records · 60 Days on market

Built 1880 4,042 sqft lot $263/sqft · 57% above area

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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 +27.6/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• 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: 4 units. confirmed

Listing remarks MLS

Experience the timeless elegance of New Orleans living with this historic fourplex located at 1426 Carondelet Street. Built in 1880, this property combines classic architectural character with an unbeatable location just one block from the St. Charles Avenue streetcar line. Situated in the heart of the city, this is a prime opportunity for investors to acquire a unique asset in Carondelet St. This four-unit investment property offers a strong blend of historical charm and operational stability. The building is currently 50% occupied, providing immediate income potential upon acquisition. To respect the privacy of our current residents, all showings require a minimum of 24-hour advance notice. Please contact us to schedule your private tour of this exceptional investment opportunity.

Key facts

• Historic fourplex
• 4,042 sq ft lot
• Built 1880

Tags

• HISTORIC FOURPLEX
• HIGH-DEMAND NEIGHBORHOOD
• FOUR-UNIT INVESTMENT PROPERTY
• IMMEDIATE INCOME POTENTIAL

What this means for you Summary

Snapshot

• This is a 4 × 7-bed/4.0-bath units multifamily listed at $788k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $569/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $788k).
• Recommended offer: $764k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 flat; 308 active listings in the ZIP; solid renter incomes; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $9,477/mo this rent would consume 142% of the median local household income ($80k/yr) (locally 841% 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 $5k of loan paydown is wiped out by about $24k 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 60 days — a 3% lower offer ($764k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $76k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $788k implies a 3052% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $764,360 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% 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. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.20% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.73%
• DSCR: 1.57
• GRM: 6.9

CMA / ARV

• ARV (median comp): $503,208
• List price: $788,000
• Delta: 56.60%
• 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
1537 Euterpe St	0.16mi	8/4.0	3,054 (+2%)	8mo	$425,000	$139	82
1227 29 Carondelet St	0.13mi	8/4.0	3,252 (+8%)	9mo	$255,000	$78	72
1212 14 Simon Bolivar Ave	0.36mi	8/3.0	2,900 (-3%)	16mo	$205,000	$71	60
2100 S Liberty St	0.50mi	8/4.0	3,100 (+3%)	20mo	$220,000	$71	54
2255 Brainard St	0.52mi	7/5.0 (-1)	2,910 (-3%)	13mo	$330,000	$113	51
2112 Felicity St	0.41mi	8/4.0	2,748 (-8%)	23mo	$435,000	$158	48

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 · 0.95% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-1,963
• Equity at exit: $117,493

10-year hold

• IRR: 7.2%
• Equity multiple: 1.50×
• Total profit: $109,410
• Equity at exit: $68,132

Cash invested: $220,640 (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 70130

• Rents YoY: 0.9%
• Active inventory: 308
• Price-to-rent: 27.7×

Monthly cashflow live

• Estimated rent: $9,477 medium
• Mortgage (P&I): −$4,132
• Tax from tax record: −$685 /mo · $8,218/yr
• Insurance: −$328
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,990
• Net cashflow: $2,275

Break-even live

Break-even rent $6,597

Max offer price $788,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 4× units	7	4	$9,476
Total (4 units)			$9,477

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: $197,000
• Closing costs: $23,640
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $788,000 Active 60 DOM
2. 2026-06-17
   days on market $788,000 Active 59 DOM
3. 2026-06-16
   pricedays on market $788,000 Active 58 DOM
4. 2026-06-15
   days on market $795,000 Active 57 DOM
5. 2026-06-13
   days on market $795,000 Active 55 DOM
6. 2026-06-10
   days on market $795,000 Active 52 DOM
7. 2026-06-09
   days on market $795,000 Active 51 DOM
8. 2026-06-08
   days on market $795,000 Active 50 DOM
9. 2026-06-07
   days on market $795,000 Active 49 DOM
10. 2026-06-05
    days on market $795,000 Active 46 DOM
11. 2026-06-03
    days on market $795,000 Active 45 DOM
12. 2026-06-02
    days on market $795,000 Active 44 DOM
13. 2026-06-01
    days on market $795,000 Active 43 DOM
14. 2026-05-31
    days on market $795,000 Active 42 DOM
15. 2026-05-18
    price $795,000 793-char remark

    Show marketing remark (793 chars)

    Experience the timeless elegance of New Orleans living with this historic fourplex located at 1426 Carondelet Street. Built in 1880, this property combines classic architectural character with an unbeatable location just one block from the St. Charles Avenue streetcar line. Situated in the heart of the city, this is a prime opportunity for investors to acquire a unique asset in Carondelet St. This four-unit investment property offers a strong blend of historical charm and operational stability. The building is currently 50% occupied, providing immediate income potential upon acquisition. To respect the privacy of our current residents, all showings require a minimum of 24-hour advance notice. Please contact us to schedule your private tour of this exceptional investment opportunity.

16. 2026-05-18
    price $795,000 793-char remark

    Show marketing remark (793 chars)

    Experience the timeless elegance of New Orleans living with this historic fourplex located at 1426 Carondelet Street. Built in 1880, this property combines classic architectural character with an unbeatable location just one block from the St. Charles Avenue streetcar line. Situated in the heart of the city, this is a prime opportunity for investors to acquire a unique asset in Carondelet St. This four-unit investment property offers a strong blend of historical charm and operational stability. The building is currently 50% occupied, providing immediate income potential upon acquisition. To respect the privacy of our current residents, all showings require a minimum of 24-hour advance notice. Please contact us to schedule your private tour of this exceptional investment opportunity.

17. 2026-05-04
    price $815,000 793-char remark

    Show marketing remark (793 chars)

    Experience the timeless elegance of New Orleans living with this historic fourplex located at 1426 Carondelet Street. Built in 1880, this property combines classic architectural character with an unbeatable location just one block from the St. Charles Avenue streetcar line. Situated in the heart of the city, this is a prime opportunity for investors to acquire a unique asset in Carondelet St. This four-unit investment property offers a strong blend of historical charm and operational stability. The building is currently 50% occupied, providing immediate income potential upon acquisition. To respect the privacy of our current residents, all showings require a minimum of 24-hour advance notice. Please contact us to schedule your private tour of this exceptional investment opportunity.

18. 2026-05-04
    price $815,000 793-char remark

    Show marketing remark (793 chars)

    Experience the timeless elegance of New Orleans living with this historic fourplex located at 1426 Carondelet Street. Built in 1880, this property combines classic architectural character with an unbeatable location just one block from the St. Charles Avenue streetcar line. Situated in the heart of the city, this is a prime opportunity for investors to acquire a unique asset in Carondelet St. This four-unit investment property offers a strong blend of historical charm and operational stability. The building is currently 50% occupied, providing immediate income potential upon acquisition. To respect the privacy of our current residents, all showings require a minimum of 24-hour advance notice. Please contact us to schedule your private tour of this exceptional investment opportunity.

19. 2026-04-18
    listed $864,000 Active 793-char remark

    Show marketing remark (793 chars)

    Experience the timeless elegance of New Orleans living with this historic fourplex located at 1426 Carondelet Street. Built in 1880, this property combines classic architectural character with an unbeatable location just one block from the St. Charles Avenue streetcar line. Situated in the heart of the city, this is a prime opportunity for investors to acquire a unique asset in Carondelet St. This four-unit investment property offers a strong blend of historical charm and operational stability. The building is currently 50% occupied, providing immediate income potential upon acquisition. To respect the privacy of our current residents, all showings require a minimum of 24-hour advance notice. Please contact us to schedule your private tour of this exceptional investment opportunity.

20. 2026-04-18
    listed $864,000 Active 793-char remark

    Show marketing remark (793 chars)

    Experience the timeless elegance of New Orleans living with this historic fourplex located at 1426 Carondelet Street. Built in 1880, this property combines classic architectural character with an unbeatable location just one block from the St. Charles Avenue streetcar line. Situated in the heart of the city, this is a prime opportunity for investors to acquire a unique asset in Carondelet St. This four-unit investment property offers a strong blend of historical charm and operational stability. The building is currently 50% occupied, providing immediate income potential upon acquisition. To respect the privacy of our current residents, all showings require a minimum of 24-hour advance notice. Please contact us to schedule your private tour of this exceptional investment opportunity.

21. 2025-05-15
    historical $1,625
22. 2025-03-25
    price $1,625
23. 2025-03-21
    listed $1,700
24. 2024-04-12
    historical $1,650
25. 2024-04-09
    listed $1,650
26. 2015-05-19
    soldstatus $25,000
27. 2015-05-19
    soldstatus $210,000

ⓘ 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: $8,218 · $685/mo
• Projected year-2 tax: $8,218 · $685/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 7/10 Severe FEMA zone X · 59% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $113,724
• − Mortgage interest: −$44,140
• − Property taxes: −$8,218
• − Insurance: −$4,738
• − Repairs & maintenance: −$9,098
• − Management: −$9,098
• − Depreciation: −$22,924
• Taxable income: $15,508
• Est. tax owed @ 24.0%: −$3,722
• After-tax cash flow: $23,576/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): 12,560
• Household income: $80,212
• Rent vs Own: 61.9% rent · 38.1% own
• Severe rent burden: 841.0

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 0.59)
• Race & ethnicity: White 57% Black 28% Hispanic / Latino 10% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 8% Italian 3% Slovak 2%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 89% English-only · Spanish 5% 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: ▼ -162.98%
• Current HPI: 206.2364
• Rent YoY: ▲ 0.95%
• 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

+3080.0% since first listed

13 events — show timeline

• 2026-05-18 Price Changed $795,000 AcadianaMLS
• 2026-05-18 Price Changed $795,000 GSREIN
• 2026-05-04 Price Changed $815,000 AcadianaMLS
• 2026-05-04 Price Changed $815,000 GSREIN
• 2026-04-18 Listed $864,000 GSREIN
• 2026-04-18 Listed $864,000 AcadianaMLS
• 2025-05-15 Rental Removed $1,625 GSREIN
• 2025-03-25 Price Changed $1,625 GSREIN
• 2025-03-21 Listed for Rent $1,700 GSREIN
• 2024-04-12 Rental Removed $1,650 GSREIN
• 2024-04-09 Listed for Rent $1,650 GSREIN
• 2015-05-19 Sold (Public Records) $210,000 Public Records
• 2015-05-19 Sold (Public Records) $25,000 Public Records

Property tax history

+8.2%/yr

Latest (2026): $8,218 · +1.1% YoY. Source: county tax records.