427-29 Seguin St · New Orleans, LA 70114

$349,900

None bd · None ba · 2,024 sqft · MultiFamily · 26 Days on market

Fair condition 4,096 sqft lot Est $322k · 9% 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 +14.9/30.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• ARV discount +3.6/15.0
• Rent growth +2.3/5.0
• Condition / age +2.0/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

LOCATION! LOCATION! LOCATION! LET THE RENTAL INCOME HELP PAY THE MORTGAGE! AMONG THE LAST REMAINING TRUE DOUBLES in THE HEART OF ALGIERS POINT! This Edwardian duplex features many original architectural details, including stained glass, fireplace mantels, and gorgous hardwood floors! NEW ROOF IN 2023! Brand new oven/stoves! Vintage and boho eclectic finishes throughout! STEPS FROM CONGREGATION COFFEE, THE LITTLE HOUSE WINEYARD, BARRACUDA TACO, NIGHTHAWK NAPOLETANO, the DRY DOCK CAFE, and the CANAL STREET FERRY to the FRENCH QUARTER! Mere blocks from over 11 miles of paved levee bike / jogging path! ONE UNIT IS VACANT AND READY FOR THE NEW OWNER TO MOVE IN! OTHER LONG-TERM TENANT WISHES TO REMAIN! OPPORTUNITY KNOCKS!

Key facts

• Fireplace mantels
• Stained glass
• Renovated bath

Tags

• ORIGINAL ARCHITECTURAL DETAILS
• STAINED GLASS
• FIREPLACE MANTELS
• HARDWOOD FLOORS
• NEW ROOF
• RENOVATED BATH

Property features AI

Exterior

• Parking: No parking on site
• Home design: Duplex; 2 total units
• Construction: Brick and wood siding construction; Composition roofing
• Exterior features: Composition roof; Brick and wood siding exterior

Interior

• Heating & cooling: Window Unit(s) for cooling; Heating system present (type: Other)
• Interior features: Window air conditioning units; Heating present (unspecified type)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $350k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $37 ($446/yr) — positive. Per door: $19/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $319k (8.8% below list).
• Recommended offer: $319k (8.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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 (-0.7%/yr); 265 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 710 units permitted in Orleans Parish in 2024 (244 in 5+ unit buildings).
• At $3,192/mo this rent would consume 88% of the median local household income ($43k/yr) (locally 2240% 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 26 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 27y 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.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $319,200 (8.8% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.91% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.27%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $321,816
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
511 13 Pelican Ave	0.11mi	3/2.0	1,776 (-12%)	1mo	$345,000	$194	74
511-13 Pelican Ave	0.19mi	—/—	1,776 (-12%)	1mo	$345,000	$194	70
335 37 Pacific Ave	0.43mi	4/4.0	2,080 (+3%)	7mo	$364,285	$175	70
434/436 Vallette St	0.26mi	6/4.0	2,160 (+7%)	13mo	$400,000	$185	66
219-21 Vallette St	0.31mi	—/—	2,210 (+9%)	5mo	$320,000	$145	66
219 21 Vallette St	0.36mi	6/2.0	2,210 (+9%)	5mo	$320,000	$145	64
838-840 Elmira Ave	0.48mi	4/4.0	1,858 (-8%)	1mo	$219,000	$118	63
400-402 Thayer St	0.60mi	6/3.0	2,106 (+4%)	4mo	$121,500	$58	62
904 06 Vallette St	0.41mi	4/2.0	1,788 (-12%)	4mo	$165,000	$92	58
509 Leboeuf St	0.67mi	7/3.0	2,051 (+1%)	16mo	$190,000	$93	53
333-35 Whitney Ave	0.74mi	6/4.0	2,204 (+9%)	14mo	$350,000	$159	39
333 35 Whitney Ave	0.74mi	4/3.0	2,204 (+9%)	14mo	$350,000	$159	39

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: -19.1%
• Equity multiple: 0.35×
• Total profit: $-63,599
• Equity at exit: $52,171

10-year hold

• IRR: -19.7%
• Equity multiple: 0.10×
• Total profit: $-88,125
• Equity at exit: $30,253

Cash invested: $97,972 (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 70114

• Rents YoY: -0.7%
• Active inventory: 265
• Price-to-rent: 18.3×

Monthly cashflow live

• Estimated rent: $3,192 high
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$437 /mo · $5,248/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$670
• Net cashflow: $37

Break-even live

Break-even rent $3,145

Max offer price $349,900

Occupancy floor 94%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,192
Total (2 units)			$3,192

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
323 Morgan St Unit G New Orleans, LA	2.0	2.5	1700	$2,500	$1.47	43d	1	0.24mi
323 Morgan St Apt E New Orleans, LA	2.0	2.5	2000	$3,600	$1.80	43d	1	0.24mi
323 Morgan St New Orleans, LA	2.0	2.5	2000	$3,600	$1.80	17d	1	0.24mi
323 Morgan St Unit C New Orleans, LA	2.0	2.0	2000	$3,200	$1.60	43d	1	0.24mi
119 Vallette St New Orleans, LA	3.0	2.5	1500	$2,100	$1.40	23d	1	0.34mi
527 Atlantic Ave New Orleans, LA	3.0	2.0	1800	$2,050	$1.14	23d	1	0.46mi
543 Atlantic Ave New Orleans, LA	2.0	2.5	1430	$2,200	$1.54	23d	1	0.47mi
2 Canal St #2008 New Orleans, LA	2.0	2.5	1533	$9,000	$5.87	2d	1	0.65mi
2 Canal St #2008 New Orleans, LA	2.0	2.5	1533	$9,300	$6.07	16d	1	0.65mi
535 Decatur St Unit 3 New Orleans, LA	3.0	2.0	1600	$2,800	$1.75	11d	1	0.73mi
915 Decatur St Unit F New Orleans, LA	2.0	2.0	1500	$2,175	$1.45	23d	1	0.73mi
515 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1644	$3,600	$2.19	44d	1	0.73mi
527 Saint Ann St Unit 3 New Orleans, LA	3.0	2.0	1687	$3,500	$2.07	43d	1	0.75mi
751 Chartres St New Orleans, LA	2.0–3.0	2.0	1461	$2,610	$1.79	43d	1	0.80mi
513 Park Blvd New Orleans, LA	3.0	2.0	1600	$2,300	$1.44	3d	1	0.81mi
215 Decatur St Unit 405 New Orleans, LA	2.0	2.5	1650	$3,450	$2.09	43d	1	0.82mi
324 Chartres St Unit B New Orleans, LA	2.0	2.0	1750	$2,250	$1.29	17d	1	0.83mi
627 St Peter New Orleans, LA	2.0	2.5	2174	$5,500	$2.53	23d	1	0.84mi
824 Royal St Unit G New Orleans, LA	2.0	2.0	2080	$3,300	$1.59	43d	1	0.85mi
522 Montegut St New Orleans, LA	1.0–2.0	1.0–2.0	1256	$3,500	$2.79	2d	12	0.85mi
431 Gravier St Unit 2 New Orleans, LA	2.0	2.0	2100	$4,000	$1.90	43d	1	0.86mi
431 Gravier St Ste 4 New Orleans, LA	3.0	2.0	2100	$3,700	$1.76	43d	1	0.86mi
433 Gravier St Unit 1 New Orleans, LA	2.0	2.0	1400	$4,000	$2.86	43d	1	0.86mi
609 Royal St Unit D New Orleans, LA	1.0	1.0	1431	$2,200	$1.54	11d	1	0.86mi
600 Marigny St New Orleans, LA	1.0	1.0	1440	$2,000	$1.39	11d	1	0.89mi
839 Dumaine St New Orleans, LA	3.0	4.0	2740	$6,500	$2.37	43d	1	0.99mi
810 Bienville St New Orleans, LA	1.0–3.0	1.0–2.0	995	$2,058	$2.07	3d	9	1.02mi
639 Desire St New Orleans, LA	3.0	2.5	2687	$5,500	$2.05	19d	1	1.03mi
800 Gravier St Unit 1272312P New Orleans, LA	2.0–4.0	2.0–4.0	1673	$2,349	$1.40	14d	2	1.04mi
817 Esplanade Ave Unit 1A New Orleans, LA	2.0	2.5	1586	$4,000	$2.52	3d	1	1.04mi
1107 S Peters St #101 New Orleans, LA	2.0	2.5	1454	$3,700	$2.54	43d	1	1.07mi
713 Camp St #400 New Orleans, LA	2.0	2.0	1935	$4,750	$2.45	43d	1	1.08mi
1000 Saint Philip St New Orleans, LA	3.0	2.5	2650	$4,800	$1.81	43d	1	1.08mi
939 Iberville St New Orleans, LA	1.0–3.0	1.0	1502	$3,100	$2.06	11d	7	1.09mi
3134 Burgundy St New Orleans, LA	3.0	2.0	1887	$2,900	$1.54	23d	1	1.10mi
1107 S Peters St #101 New Orleans, LA	2.0	2.5	1454	$3,700	$2.54	16d	1	1.11mi
618 N Rampart St #204 New Orleans, LA	3.0	2.5	1904	$4,500	$2.36	43d	1	1.12mi
210 Baronne St New Orleans, LA	1.0–2.0	1.0–2.5	1530	$5,000	$3.27	2d	26	1.13mi
1132 Tchoupitoulas St New Orleans, LA	1.0	1.0	1599	$4,600	$2.88	43d	1	1.13mi
1050 Annunciation St Unit 1272355P New Orleans, LA	2.0–5.0	2.0–4.0	1544	$1,488	$0.96	3d	3	1.13mi

Listing history 23 events

1. 2026-06-18
   days on market $349,900 Active 26 DOM
2. 2026-06-17
   days on market $349,900 Active 25 DOM
3. 2026-06-16
   days on market $349,900 Active 24 DOM
4. 2026-06-15
   days on market $349,900 Active 23 DOM
5. 2026-06-13
   days on market $349,900 Active 21 DOM
6. 2026-06-10
   days on market $349,900 Active 18 DOM
7. 2026-06-09
   days on market $349,900 Active 17 DOM
8. 2026-06-08
   days on market $349,900 Active 16 DOM
9. 2026-06-07
   days on market $349,900 Active 15 DOM
10. 2026-06-05
    days on market $349,900 Active 12 DOM
11. 2026-06-03
    days on market $349,900 Active 11 DOM
12. 2026-06-02
    days on market $349,900 Active 10 DOM
13. 2026-06-01
    days on market $349,900 Active 9 DOM
14. 2026-05-31
    days on market $349,900 Active 8 DOM
15. 2026-05-23
    listed $349,900 Active
16. 2026-04-11
    listed $1,800
17. 2026-04-10
    historical $1,800
18. 2026-03-26
    listed $1,800
19. 2025-05-11
    historical $1,800
20. 2025-04-14
    listed $1,800
21. 2024-04-01
    listed $349,900 725-char remark

    Show marketing remark (725 chars)

    LOCATION! LOCATION! LOCATION! LET THE RENTAL INCOME HELP PAY THE MORTGAGE! AMONG THE LAST REMAINING TRUE DOUBLES in THE HEART OF ALGIERS POINT! This Edwardian duplex features many original architectural details, including stained glass, fireplace mantels, and gorgous hardwood floors! NEW ROOF IN 2023! Brand new oven/stoves! Vintage and boho eclectic finishes throughout! STEPS FROM CONGREGATION COFFEE, THE LITTLE HOUSE WINEYARD, BARRACUDA TACO, NIGHTHAWK NAPOLETANO, the DRY DOCK CAFE, and the CANAL STREET FERRY to the FRENCH QUARTER! Mere blocks from over 11 miles of paved levee bike / jogging path! ONE UNIT IS VACANT AND READY FOR THE NEW OWNER TO MOVE IN! OTHER LONG-TERM TENANT WISHES TO REMAIN! OPPORTUNITY KNOCKS!

22. 2013-10-14
    listed $189,000 336-char remark

    Show marketing remark (336 chars)

    Historic Algiers Point double! Needs some TLC. Great property for conversion to single or update both sides for rental income for one side, live in the other. Original millwork and architectural details. Close to the levee and the ferry. Sold as is w/waiver of redhibition at the act of sale. Qualifying letter from lender w/all offers.

23. 1999-02-11
    listed $95,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 22 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: $38,304
• − Mortgage interest: −$19,600
• − Property taxes: −$5,248
• − Insurance: −$2,547
• − Repairs & maintenance: −$3,064
• − Management: −$3,064
• − Depreciation: −$10,179
• Taxable loss: −$5,399
• Est. tax savings @ 24.0%: +$1,296
• After-tax cash flow: $1,741/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.

Condition & rehab AI · 1 photo

Fair 40/100 Moderate rehab

This multi-family property requires moderate renovations, focusing on painting and flooring, to improve its condition and increase its resale and rental value.

Repairs flagged

• Major Kitchen — No photos of kitchen
• Major Bathrooms — No photos of bathrooms

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Paint interior walls — Improves interior appearance and rental appeal
• Both Replace flooring — Enhances living space and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen · No photos of kitchen	Major	$15,000–50,000
Bathrooms · No photos of bathrooms	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Paint interior walls — Improves interior appearance and rental appeal ↑
• Both Replace flooring — Enhances living space and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 22,659
• Household income: $43,493
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 2240.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 6% 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: ▼ -98.56%
• Current HPI: 149.0172
• Rent YoY: ▼ -0.72%
• 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

+268.3% since first listed

9 events — show timeline

• 2026-05-23 Listed $349,900 AcadianaMLS
• 2026-04-11 Listed for Rent $1,800 RAAMLS
• 2026-04-10 Rental Removed $1,800 GSREIN
• 2026-03-26 Listed for Rent $1,800 GSREIN
• 2025-05-11 Rental Removed $1,800 GSREIN
• 2025-04-14 Listed for Rent $1,800 GSREIN
• 2024-04-01 Listed $349,900 AcadianaMLS
• 2013-10-14 Listed $189,000 AcadianaMLS
• 1999-02-11 Listed $95,000 AcadianaMLS