1940 42 Allen Toussaint Blvd · New Orleans, LA 70122

$325,000

4 bd · 2.0 ba · 2,904 sqft · MultiFamily public records · 109 Days on market

Built 1983 $112/sqft · 11% above area Est $293k · 11% 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 +23.6/30.0
• DSCR +7.6/10.0
• 1% rule +5.7/10.0
• Livability +4.0/5.0
• ARV discount +2.5/15.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• 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: 2 units. confirmed

Listing remarks MLS

Turnkey Income-Producing Duplex in a Prime New Orleans Location Income-generating duplex offering both stability and upside in a desirable Gentilly neighborhood. Market rent for each unit is $1700-$1900. Whether you're expanding your portfolio or seeking a smart house-hack opportunity, this property delivers immediate value and long-term potential. Each 3-bedroom/2 bathroom spacious unit features generous living areas filled with natural light and functional floor plans designed for comfortable everyday living. Downstairs showcases durable ceramic tile flooring for easy maintenance, while the upstairs bedrooms highlight beautiful original hardwood floors that bring warmth, charm, and timeless New Orleans character. Neutral paint throughout creates a clean, modern aesthetic ready for any tenant’s personal touch. Exterior amenities add even more appeal, including covered parking, a dedicated driveway for both units, and ample off-street parking — a true convenience in the city. A private fenced yard provides inviting outdoor space perfect for relaxing or entertaining. Move-in ready, this duplex offers versatility, strong rental appeal, and solid income potential. Live in one unit and offset your mortgage, or lease both units and enjoy consistent cash flow. An exceptional opportunity to own a performing asset in a sought-after location just steps to University of New Orleans, Lakefront, Ben Franklin High School, Lakefront Arena, and Hynes-UNO Charter School.

Key facts

• Ample natural light
• Functional layouts
• Parking

Tags

• INCOME PRODUCING OPPORTUNITY
• STRONG RENTAL POTENTIAL
• GENEROUS LIVING AREAS
• AMPLE NATURAL LIGHT
• FUNCTIONAL LAYOUTS
• CERAMIC TILE FLOORING

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive. Per door: $93/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $325k).
• Recommended offer: $296k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 soft (-0.6%/yr); 332 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,483/mo this rent would consume 85% 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 109 days — a 9% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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 $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $295,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.07% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.09%
• DSCR: 1.36
• GRM: 7.8

CMA / ARV

• ARV (median comp): $292,756
• List price: $325,000
• Delta: 11.01%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5506 Warrington Dr	0.52mi	4/3.0	2,569 (-12%)	20mo	$235,000	$91	35
2137 39 Filmore Ave	0.67mi	5/3.5 (+1)	2,480 (-15%)	7mo	$268,500	$108	27

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: -16.2%
• Equity multiple: 0.44×
• Total profit: $-50,716
• Equity at exit: $48,459

10-year hold

• IRR: -15.4%
• Equity multiple: 0.26×
• Total profit: $-67,269
• Equity at exit: $28,100

Cash invested: $91,000 (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: 332
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $3,483 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$298 /mo · $3,580/yr
• Insurance: −$135
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$731
• Net cashflow: $187

Break-even live

Break-even rent $3,246

Max offer price $325,000

Occupancy floor 90%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,484
Total (2 units)			$3,483

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 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	17d	1	0.17mi
1310 Allen Toussaint Blvd New Orleans, LA	5.0	3.0	2858	$3,150	$1.10	16d	1	0.93mi
5024 Paris Ave New Orleans, LA	4.0	3.0	2116	$3,000	$1.42	16d	1	0.99mi
5532 Saint Bernard Ave New Orleans, LA	4.0	4.0	2907	$5,000	$1.72	44d	1	1.09mi
4727 Saint Bernard Ave New Orleans, LA	3.0	2.0	2000	$2,000	$1.00	16d	1	1.44mi
3570 Gentilly Blvd New Orleans, LA	3.0	2.0	2390	$2,900	$1.21	44d	1	1.49mi

Listing history 19 events

1. 2026-06-08
   days on market $325,000 Active 109 DOM
2. 2026-06-07
   days on market $325,000 Active 108 DOM
3. 2026-06-05
   days on market $325,000 Active 105 DOM
4. 2026-06-03
   days on market $325,000 Active 104 DOM
5. 2026-06-02
   days on market $325,000 Active 103 DOM
6. 2026-06-01
   days on market $325,000 Active 102 DOM
7. 2026-05-31
   days on market $325,000 Active 101 DOM
8. 2026-04-26
   status Active 1496-char remark

   Show marketing remark (1496 chars)

   Turnkey Income-Producing Duplex in a Prime New Orleans Location Income-generating duplex offering both stability and upside in a desirable Gentilly neighborhood. Market rent for each unit is $1700-$1900. Whether you're expanding your portfolio or seeking a smart house-hack opportunity, this property delivers immediate value and long-term potential. Each 3-bedroom/2 bathroom spacious unit features generous living areas filled with natural light and functional floor plans designed for comfortable everyday living. Downstairs showcases durable ceramic tile flooring for easy maintenance, while the upstairs bedrooms highlight beautiful original hardwood floors that bring warmth, charm, and timeless New Orleans character. Neutral paint throughout creates a clean, modern aesthetic ready for any tenant’s personal touch. Exterior amenities add even more appeal, including covered parking, a dedicated driveway for both units, and ample off-street parking — a true convenience in the city. A private fenced yard provides inviting outdoor space perfect for relaxing or entertaining. Move-in ready, this duplex offers versatility, strong rental appeal, and solid income potential. Live in one unit and offset your mortgage, or lease both units and enjoy consistent cash flow. An exceptional opportunity to own a performing asset in a sought-after location just steps to University of New Orleans, Lakefront, Ben Franklin High School, Lakefront Arena, and Hynes-UNO Charter School.

9. 2026-03-07
   historical Active Under Contract 1496-char remark

   Show marketing remark (1496 chars)

   Turnkey Income-Producing Duplex in a Prime New Orleans Location Income-generating duplex offering both stability and upside in a desirable Gentilly neighborhood. Market rent for each unit is $1700-$1900. Whether you're expanding your portfolio or seeking a smart house-hack opportunity, this property delivers immediate value and long-term potential. Each 3-bedroom/2 bathroom spacious unit features generous living areas filled with natural light and functional floor plans designed for comfortable everyday living. Downstairs showcases durable ceramic tile flooring for easy maintenance, while the upstairs bedrooms highlight beautiful original hardwood floors that bring warmth, charm, and timeless New Orleans character. Neutral paint throughout creates a clean, modern aesthetic ready for any tenant’s personal touch. Exterior amenities add even more appeal, including covered parking, a dedicated driveway for both units, and ample off-street parking — a true convenience in the city. A private fenced yard provides inviting outdoor space perfect for relaxing or entertaining. Move-in ready, this duplex offers versatility, strong rental appeal, and solid income potential. Live in one unit and offset your mortgage, or lease both units and enjoy consistent cash flow. An exceptional opportunity to own a performing asset in a sought-after location just steps to University of New Orleans, Lakefront, Ben Franklin High School, Lakefront Arena, and Hynes-UNO Charter School.

10. 2026-02-19
    listed $325,000 Active 1496-char remark

    Show marketing remark (1496 chars)

    Turnkey Income-Producing Duplex in a Prime New Orleans Location Income-generating duplex offering both stability and upside in a desirable Gentilly neighborhood. Market rent for each unit is $1700-$1900. Whether you're expanding your portfolio or seeking a smart house-hack opportunity, this property delivers immediate value and long-term potential. Each 3-bedroom/2 bathroom spacious unit features generous living areas filled with natural light and functional floor plans designed for comfortable everyday living. Downstairs showcases durable ceramic tile flooring for easy maintenance, while the upstairs bedrooms highlight beautiful original hardwood floors that bring warmth, charm, and timeless New Orleans character. Neutral paint throughout creates a clean, modern aesthetic ready for any tenant’s personal touch. Exterior amenities add even more appeal, including covered parking, a dedicated driveway for both units, and ample off-street parking — a true convenience in the city. A private fenced yard provides inviting outdoor space perfect for relaxing or entertaining. Move-in ready, this duplex offers versatility, strong rental appeal, and solid income potential. Live in one unit and offset your mortgage, or lease both units and enjoy consistent cash flow. An exceptional opportunity to own a performing asset in a sought-after location just steps to University of New Orleans, Lakefront, Ben Franklin High School, Lakefront Arena, and Hynes-UNO Charter School.

11. 2026-02-16
    historical $1,600
12. 2025-09-30
    price $1,600
13. 2025-08-21
    listed $1,700
14. 2025-03-11
    historical $1,650
15. 2025-01-20
    listed $1,650
16. 2019-05-01
    soldstatus $288,000
17. 2015-08-19
    soldstatus $254,000
18. 2004-07-20
    soldstatus $193,000 163-char remark

    Show marketing remark (163 chars)

    LOCATION, LOCATION, LOCATION! WELL MAINTAINED DOUBLE, WALKING DISTANCE TO UNIVERSITY OF NEW ORLEANS. EACH UNIT HAS 3 BEDROOMS & 2 FULL BATHS. 1450 SQFT EACH.

19. 2004-06-07
    listed $215,000 163-char remark

    Show marketing remark (163 chars)

    LOCATION, LOCATION, LOCATION! WELL MAINTAINED DOUBLE, WALKING DISTANCE TO UNIVERSITY OF NEW ORLEANS. EACH UNIT HAS 3 BEDROOMS & 2 FULL BATHS. 1450 SQFT EACH.

ⓘ 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: $3,580 · $298/mo
• Projected year-2 tax: $3,580 · $298/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 AE · 76% 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: $41,796
• − Mortgage interest: −$18,205
• − Property taxes: −$3,580
• − Insurance: −$6,744
• − Repairs & maintenance: −$3,344
• − Management: −$3,344
• − Depreciation: −$9,455
• Taxable loss: −$2,874
• Est. tax savings @ 24.0%: +$690
• After-tax cash flow: $2,933/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

+51.2% since first listed

12 events — show timeline

• 2026-04-26 Relisted — GSREIN
• 2026-03-07 Contingent — GSREIN
• 2026-02-19 Listed $325,000 GSREIN
• 2026-02-16 Rental Removed $1,600 GSREIN
• 2025-09-30 Price Changed $1,600 GSREIN
• 2025-08-21 Listed for Rent $1,700 GSREIN
• 2025-03-11 Rental Removed $1,650 GSREIN
• 2025-01-20 Listed for Rent $1,650 GSREIN
• 2019-05-01 Sold (Public Records) $288,000 Public Records
• 2015-08-19 Sold (Public Records) $254,000 Public Records
• 2004-07-20 Sold (MLS) $193,000 GSREIN
• 2004-06-07 Listed $215,000 GSREIN

Property tax history

+3.3%/yr

Latest (2026): $3,580 · +1.1% YoY. Source: county tax records.