1425 27 Royal St · New Orleans, LA 70116

$699,000

6 bd · 3.0 ba · 3,640 sqft · MultiFamily public records · 98 Days on market

Built 1900 $192/sqft · 12% below area Est $659k · 6% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +4.8/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Exceptional opportunity in the heart of the highly desirable Marigny Triangle. This classic New Orleans triplex offers approximately 3,020 sq ft of historic charm with strong income potential Located in one of New Orleans’ most vibrant and walkable neighborhoods, this property provides quick access to the French Quarter, Crescent Park riverfront, Bywater, and the live music scene of Frenchmen Street, and some of the city’s best dining, music, and culture. The property features three spacious units, each showcasing the architectural character buyers love—original hardwood floors, soaring ceilings, decorative fireplaces, and stunning historic millwork. Elegant arched openings, built-in shelving, and stained-glass accents highlight the home’s timeless design. The upper unit includes a large balcony overlooking Royal Street, a nice place for enjoying morning coffee or evening breezes. The welcoming front porch with classic New Orleans columns adds curb appeal and a relaxing outdoor space. Several updates blend modern convenience with historic style, including a renovated kitchen upstairs with granite countertops and stainless appliances and an updated bath with double vanity. The layout offers flexible living options that can appeal to owner-occupants, long-term rental income, or investment potential. Whether you’re looking for a historic home with income, a multi-unit investment, or a classic Marigny Triangle property, This is a rare opportunity to own a piece of New Orleans charm in a premier location.

Key facts

• Historic charm
• Soaring ceilings
• Built 1900

Tags

• HISTORIC CHARM
• STRONG INCOME POTENTIAL
• QUICK ACCESS TO FRENCH QUARTER
• CRESCENT PARK RIVERFRONT
• ORIGINAL HARDWOOD FLOORS
• SOARING CEILINGS

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.5-bath units multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $699k).
• Recommended offer: $636k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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; 350 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $10,124/mo this rent would consume 232% of the median local household income ($52k/yr) (locally 1001% 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 $21k 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.
• At projected returns (-3.0% appreciation + 0.2% rent growth), your $196k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($636k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — 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 $636,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% 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 1900 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.45% ✓
• Cap rate: 12.17%
• Cash-on-cash: 20.98%
• DSCR: 1.93
• GRM: 5.8

CMA / ARV

• ARV (median comp): $659,259
• List price: $699,000
• Delta: 6.03%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
730 32 Frenchmen St	0.11mi	6/5.0	4,128 (+13%)	9mo	$625,000	$151	57
1328 Esplanade Ave	0.50mi	5/5.0 (-1)	3,579 (-2%)	6mo	$960,000	$268	56
719 21 Mandeville St	0.36mi	7/4.0 (+1)	3,649 (+0%)	22mo	$750,000	$206	55
1241 Kerlerec St	0.40mi	6/6.0	3,507 (-4%)	12mo	$555,000	$158	53
2231 Royal St	0.25mi	6/6.0	3,400 (-7%)	16mo	$725,000	$213	52
2237 Royal St	0.25mi	5/5.0 (-1)	3,400 (-7%)	16mo	$700,000	$206	51
2412 N Rampart St	0.42mi	7/5.0 (+1)	3,891 (+7%)	7mo	$1,200,000	$308	51
2320 22 Chartres St	0.31mi	6/5.0	3,258 (-10%)	18mo	$578,000	$177	45
930-32 Kerlerec St	0.18mi	7/7.0 (+1)	4,172 (+15%)	12mo	$502,000	$120	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 · 0.18% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.37×
• Total profit: $72,511
• Equity at exit: $104,223

10-year hold

• IRR: 16.4%
• Equity multiple: 2.18×
• Total profit: $230,084
• Equity at exit: $60,437

Cash invested: $195,720 (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 70116

• Home prices YoY: -34.5%
• Rents YoY: 0.2%
• Active inventory: 350
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $10,124 high
• Mortgage (P&I): −$3,666
• Tax from tax record: −$620 /mo · $7,436/yr
• Insurance: −$291
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,126
• Net cashflow: $3,355

Break-even live

Break-even rent $5,877

Max offer price $699,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3.5	$10,125
Total (3 units)			$10,124

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1608 Governor Nicholls St Unit D New Orleans, LA	5.0	3.5	5245	$4,000	$0.76	43d	1	0.61mi
1608 Governor Nicholls St Unit D New Orleans, LA	5.0	3.5	5245	$4,000	$0.76	23d	1	0.61mi

Listing history 18 events

1. 2026-06-18
   days on market $699,000 Active 98 DOM
2. 2026-06-17
   days on market $699,000 Active 97 DOM
3. 2026-06-16
   days on market $699,000 Active 96 DOM
4. 2026-06-15
   days on market $699,000 Active 95 DOM
5. 2026-06-13
   days on market $699,000 Active 93 DOM
6. 2026-06-10
   days on market $699,000 Active 90 DOM
7. 2026-06-09
   days on market $699,000 Active 89 DOM
8. 2026-06-08
   days on market $699,000 Active 88 DOM
9. 2026-06-07
   days on market $699,000 Active 87 DOM
10. 2026-06-05
    days on market $699,000 Active 84 DOM
11. 2026-06-03
    days on market $699,000 Active 83 DOM
12. 2026-06-02
    days on market $699,000 Active 82 DOM
13. 2026-06-01
    days on market $699,000 Active 81 DOM
14. 2026-05-31
    days on market $699,000 Active 80 DOM
15. 2026-04-08
    price $779,000 1555-char remark

    Show marketing remark (1555 chars)

    Exceptional opportunity in the heart of the highly desirable Marigny Triangle. This classic New Orleans triplex offers approximately 3,020 sq ft of historic charm with strong income potential Located in one of New Orleans’ most vibrant and walkable neighborhoods, this property provides quick access to the French Quarter, Crescent Park riverfront, Bywater, and the live music scene of Frenchmen Street, and some of the city’s best dining, music, and culture. The property features three spacious units, each showcasing the architectural character buyers love—original hardwood floors, soaring ceilings, decorative fireplaces, and stunning historic millwork. Elegant arched openings, built-in shelving, and stained-glass accents highlight the home’s timeless design. The upper unit includes a large balcony overlooking Royal Street, a nice place for enjoying morning coffee or evening breezes. The welcoming front porch with classic New Orleans columns adds curb appeal and a relaxing outdoor space. Several updates blend modern convenience with historic style, including a renovated kitchen upstairs with granite countertops and stainless appliances and an updated bath with double vanity. The layout offers flexible living options that can appeal to owner-occupants, long-term rental income, or investment potential. Whether you’re looking for a historic home with income, a multi-unit investment, or a classic Marigny Triangle property, This is a rare opportunity to own a piece of New Orleans charm in a premier location.

16. 2026-03-12
    listed $815,000 Active 1555-char remark

    Show marketing remark (1555 chars)

    Exceptional opportunity in the heart of the highly desirable Marigny Triangle. This classic New Orleans triplex offers approximately 3,020 sq ft of historic charm with strong income potential Located in one of New Orleans’ most vibrant and walkable neighborhoods, this property provides quick access to the French Quarter, Crescent Park riverfront, Bywater, and the live music scene of Frenchmen Street, and some of the city’s best dining, music, and culture. The property features three spacious units, each showcasing the architectural character buyers love—original hardwood floors, soaring ceilings, decorative fireplaces, and stunning historic millwork. Elegant arched openings, built-in shelving, and stained-glass accents highlight the home’s timeless design. The upper unit includes a large balcony overlooking Royal Street, a nice place for enjoying morning coffee or evening breezes. The welcoming front porch with classic New Orleans columns adds curb appeal and a relaxing outdoor space. Several updates blend modern convenience with historic style, including a renovated kitchen upstairs with granite countertops and stainless appliances and an updated bath with double vanity. The layout offers flexible living options that can appeal to owner-occupants, long-term rental income, or investment potential. Whether you’re looking for a historic home with income, a multi-unit investment, or a classic Marigny Triangle property, This is a rare opportunity to own a piece of New Orleans charm in a premier location.

17. 2022-08-01
    soldstatus $703,680
18. 1985-12-27
    soldstatus $148,000

ⓘ 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: $7,436 · $620/mo
• Projected year-2 tax: $7,436 · $620/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 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $121,488
• − Mortgage interest: −$39,155
• − Property taxes: −$7,436
• − Insurance: −$4,292
• − Repairs & maintenance: −$9,719
• − Management: −$9,719
• − Depreciation: −$20,335
• Taxable income: $30,832
• Est. tax owed @ 24.0%: −$7,400
• After-tax cash flow: $32,860/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): 10,404
• Household income: $52,306
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 1001.0

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 0.63)
• Race & ethnicity: White 45% Black 40% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Mexican 1% Cuban 3%
• Common ancestry: Lithuanian 6% Slovak 3% Romanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 2%

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: ▼ -144.83%
• Current HPI: 275.5453
• Rent YoY: ▲ 0.18%
• 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

+426.4% since first listed

4 events — show timeline

• 2026-04-08 Price Changed $779,000 GSREIN
• 2026-03-12 Listed $815,000 GSREIN
• 2022-08-01 Sold (Public Records) $703,680 Public Records
• 1985-12-27 Sold (Public Records) $148,000 Public Records

Property tax history

+1.1%/yr

Latest (2026): $7,436 · +1.1% YoY. Source: county tax records.