3018 N Rocheblave St · New Orleans, LA 70117

$225,000

4 bd · 2.0 ba · 2,088 sqft · MultiFamily public records · 165 Days on market

Built 1893 5,632 sqft lot $108/sqft · at area comps Est $216k · at est.

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Why this score? — see what drove the B- 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 +8.5/10.0
• ARV discount +5.6/15.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Well maintained double in quiet location, recently renovated! Covered front porch & nice wrought iron, fully fenced yard with off street parking for 1-2 vehicles. Downstairs unit features 3beds/ 2 baths, granite counters, shaker cabinetry, plenty of shared space. Second unit features 2 levels with 1bedroom, bath & kitchen upstairs and 1bedroom & living room downstairs. Efficiency windows, new roof, waterproof vinyl flooring throughout. Great income producing investment opportunity!

Key facts

• Covered front porch
• Off street parking
• Shaker cabinetry

Tags

• COVERED FRONT PORCH
• WROUGHT IRON
• FULLY FENCED YARD
• OFF STREET PARKING
• GRANITE COUNTERS
• SHAKER CABINETRY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,042/mo this rent would consume 80% 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 $7k 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 165 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 29y 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; built in 1893 — expect roof / HVAC / electrical / plumbing capex.
• 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 $198,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1893 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.35% ✓
• Cap rate: 11.14%
• Cash-on-cash: 17.30%
• DSCR: 1.77
• GRM: 6.2

CMA / ARV

• ARV (median comp): $215,996
• List price: $225,000
• Delta: 4.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1805 07 St Roch Ave	0.71mi	4/2.0	1,914 (-8%)	1mo	$290,000	$152	52
2517 N Miro St	0.52mi	4/2.0	1,857 (-11%)	7mo	$50,000	$27	51
3129 31 N Claiborne Ave	0.58mi	4/2.0	1,806 (-14%)	3mo	$267,150	$148	48
1736 38 Louisa St	0.48mi	4/2.0	1,784 (-15%)	14mo	$340,000	$191	41
1537-1539 Louisa St	0.62mi	4/2.0	1,778 (-15%)	6mo	$329,000	$185	41
2502 Music St	0.67mi	4/2.0	1,917 (-8%)	19mo	$115,000	$60	40
3133 31 Clouet St	0.47mi	5/3.0 (+1)	1,814 (-13%)	11mo	$313,000	$173	38
3114-3116 Clouet St	0.64mi	5/3.0 (+1)	1,814 (-13%)	3mo	$320,000	$176	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 · 2.49% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-7,054
• Equity at exit: $33,548

10-year hold

• IRR: 6.1%
• Equity multiple: 1.45×
• Total profit: $28,167
• Equity at exit: $19,454

Cash invested: $63,000 (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: 12.0×

Monthly cashflow live

• Estimated rent: $3,042 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$221 /mo · $2,654/yr
• Insurance: −$94
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$639
• Net cashflow: $482

Break-even live

Break-even rent $2,432

Max offer price $225,000

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
1× unit	3	2	$1,566
1× unit	2	1	$1,475
Total (2 units)			$3,042

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1839 Louisa St New Orleans, LA	3.0	2.0	1500	$2,095	$1.40	16d	1	0.41mi
1835 Louisa St New Orleans, LA	3.0	2.5	1800	$2,350	$1.31	3d	1	0.42mi
2019 Gallier St New Orleans, LA	4.0	2.0	1400	$2,200	$1.57	23d	1	0.47mi
2228 Arts St New Orleans, LA	3.0	2.0	2270	$1,675	$0.74	3d	1	0.55mi
5624-5626 Saint Claude ST New Orleans, LA	4.0	3.0	1521	$2,300	$1.51	23d	1	0.69mi
1437 Gallier St New Orleans, LA	3.0	2.0	1451	$1,875	$1.29	21d	1	0.77mi
2115 Mandeville St New Orleans, LA	3.0	2.0	1400	$1,650	$1.18	23d	1	0.79mi
3302 Metropolitan St New Orleans, LA	4.0	2.5	1700	$2,200	$1.29	17d	1	0.79mi
1231 Feliciana St New Orleans, LA	3.0	2.5	1869	$2,750	$1.47	44d	1	0.81mi
2739 Bay St Unit B New Orleans, LA	4.0	2.0	1400	$1,800	$1.29	20d	1	0.89mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	0.92mi
1325 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	0.92mi
1323 Pauline St New Orleans, LA	3.0	2.0	1792	$2,250	$1.26	3d	1	0.93mi
2107 Elysian Fields Ave New Orleans, LA	4.0	2.0	1794	$1,650	$0.92	3d	1	0.93mi
3221 Saint Claude Ave New Orleans, LA	3.0	1.0	1900	$1,650	$0.87	23d	1	0.93mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	23d	1	0.95mi
1038 Montegut St New Orleans, LA	3.0	2.5	2250	$4,200	$1.87	44d	1	0.95mi
1411 France St New Orleans, LA	3.0	2.0	1525	$2,000	$1.31	23d	1	1.04mi
2647 Myrtle St Unit 2647 New Orleans, LA	4.0	2.0	1445	$2,550	$1.76	44d	1	1.08mi
1403 Lesseps St New Orleans, LA	3.0	3.0	1700	$1,800	$1.06	12d	1	1.10mi
1837 Touro St New Orleans, LA	3.0	1.0	1994	$2,000	$1.00	23d	1	1.11mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	23d	1	1.11mi
2920 Pauger St New Orleans, LA	4.0	2.0	1882	$1,995	$1.06	23d	1	1.18mi
3228 Pauger St New Orleans, LA	5.0	2.0	1600	$2,100	$1.31	23d	1	1.19mi
2317 N Rampart St Unit 1272378P New Orleans, LA	3.0–6.0	2.0–4.0	1581	$4,154	$2.63	3d	2	1.20mi
2320 N Rampart St New Orleans, LA	3.0	3.0	2317	$3,700	$1.60	44d	1	1.21mi
1938 N Johnson St Unit 38 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	1.25mi
1936 N Johnson St Unit 36 New Orleans, LA	3.0	2.0	1844	$2,400	$1.30	23d	1	1.25mi
639 Desire St New Orleans, LA	3.0	2.5	2687	$5,500	$2.05	20d	1	1.29mi
1933 Industry St New Orleans, LA	3.0	2.0	1400	$1,595	$1.14	16d	1	1.40mi
1831 N Miro St New Orleans, LA	3.0	2.0	1882	$2,500	$1.33	44d	1	1.46mi

Listing history 32 events

1. 2026-06-18
   days on market $225,000 Active 165 DOM
2. 2026-06-17
   days on market $225,000 Active 164 DOM
3. 2026-06-16
   days on market $225,000 Active 163 DOM
4. 2026-06-15
   days on market $225,000 Active 162 DOM
5. 2026-06-13
   days on market $225,000 Active 160 DOM
6. 2026-06-10
   days on market $225,000 Active 157 DOM
7. 2026-06-09
   days on market $225,000 Active 156 DOM
8. 2026-06-08
   days on market $225,000 Active 155 DOM
9. 2026-06-07
   days on market $225,000 Active 154 DOM
10. 2026-06-05
    days on market $225,000 Active 151 DOM
11. 2026-06-03
    days on market $225,000 Active 150 DOM
12. 2026-06-02
    days on market $225,000 Active 149 DOM
13. 2026-06-01
    days on market $225,000 Active 148 DOM
14. 2026-05-31
    days on market $225,000 Active 147 DOM
15. 2026-01-04
    listed $225,000 Active 498-char remark

    Show marketing remark (504 chars)

    Well maintained double in quiet location, recently renovated! Covered front porch & nice wrought iron, fully fenced yard with off street parking for 1-2 vehicles. Downstairs unit features 3beds/ 2 baths, granite counters, shaker cabinetry, plenty of shared space. Second unit features 2 levels with 1bedroom, bath & kitchen upstairs and 1bedroom & living room downstairs. Efficiency windows, new roof, waterproof vinyl flooring throughout. Great income producing investment opportunity!

16. 2026-01-04
    listed $225,000 Active 504-char remark

    Show marketing remark (504 chars)

    Well maintained double in quiet location, recently renovated! Covered front porch & nice wrought iron, fully fenced yard with off street parking for 1-2 vehicles. Downstairs unit features 3beds/ 2 baths, granite counters, shaker cabinetry, plenty of shared space. Second unit features 2 levels with 1bedroom, bath & kitchen upstairs and 1bedroom & living room downstairs. Efficiency windows, new roof, waterproof vinyl flooring throughout. Great income producing investment opportunity!

17. 2023-07-18
    soldstatus $209,000
18. 2023-04-20
    listed $199,000
19. 2021-08-24
    price $225,000
20. 2021-05-28
    listed $225,000
21. 2012-07-17
    listed $116,200
22. 2012-07-17
    listed $116,200
23. 2011-05-23
    listed $114,900
24. 2011-05-23
    listed $114,900
25. 2006-08-02
    soldstatus $17,000
26. 2006-03-02
    listed $25,000
27. 2005-03-29
    soldstatus $55,000
28. 2004-12-15
    listed $59,000
29. 1997-12-08
    soldstatus $66,000
30. 1997-03-03
    soldstatus $10,000
31. 1997-01-06
    listed $19,900
32. 1997-01-06
    listed $19,900

ⓘ 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: $2,654 · $221/mo
• Projected year-2 tax: $2,654 · $221/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 · 78% 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,504
• − Mortgage interest: −$12,603
• − Property taxes: −$2,654
• − Insurance: −$6,244
• − Repairs & maintenance: −$2,920
• − Management: −$2,920
• − Depreciation: −$6,545
• Taxable income: $2,617
• Est. tax owed @ 24.0%: −$628
• After-tax cash flow: $5,154/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

+1030.7% since first listed

18 events — show timeline

• 2026-01-04 Listed $225,000 GSREIN
• 2026-01-04 Listed $225,000 AcadianaMLS
• 2023-07-18 Sold (Public Records) $209,000 Public Records
• 2023-04-20 Listed $199,000 AcadianaMLS
• 2021-08-24 Price Changed $225,000 GSREIN
• 2021-05-28 Listed $225,000 AcadianaMLS
• 2012-07-17 Listed $116,200 GSREIN
• 2012-07-17 Listed $116,200 AcadianaMLS
• 2011-05-23 Listed $114,900 GSREIN
• 2011-05-23 Listed $114,900 AcadianaMLS
• 2006-08-02 Sold (MLS) $17,000 GSREIN
• 2006-03-02 Listed $25,000 GSREIN
• 2005-03-29 Sold (MLS) $55,000 GSREIN
• 2004-12-15 Listed $59,000 GSREIN
• 1997-12-08 Sold (Public Records) $66,000 Public Records
• 1997-03-03 Sold (MLS) $10,000 GSREIN
• 1997-01-06 Listed $19,900 AcadianaMLS
• 1997-01-06 Listed $19,900 GSREIN

Property tax history

+4.9%/yr

Latest (2026): $2,654 · +1.1% YoY. Source: county tax records.